KUALA LUMPUR: Homeowners looking to purchase expensive homes in China will now get added incentive. According to a new marketing deal, if buyers purchase a home worth more than $4 million, they will get a free luxury home valued at RM500,000 in Malaysia. The report, published by Nanyang Siang Pau, said the aim is to increase property purchases in both countries, especially among the wealthy. The local developers would maintain and rent out the property for the foreign owners and, at the same time, help them apply for the Malaysia My Second Home program. Many Chinese developers have purchased a large number of properties in Malaysia, which they give away as gifts to customers who buy houses worth between RM10mil and RM20mil. The new initiative has already been met with optimism from potential buyers, who told Bikyamasr.com that it could “make the idea of buying in China a lot more lucrative.” Ihsan Abdullaha, an investment banker in Kuala Lumpur, told Bikyamasr.com that since he heard about the deal, “I have been online checking out properties in China. I think it could really be a way to get us into the market.” For now, the new marketing scheme is creating a lot of buzz among Malaysia's elite, including Abdullaha, who said his friends are also getting online to check prices. “It could really be great for both countries,” he added.
