According to Statistics released by the Malaysian Institute of Economic Research (MIER), Malaysia is set to hit 5% growth in 2011, based on GDP results for the first three quarters of the year.
At the recent National Economic Outlook Conference, executive director of the MIER, Dr Zakariah Abdul Rashid stated that if the government can keep a similar performance for the fourth quarter, Malaysia’s economy will achieve the earlier estimated 5 to 5.5%.
“It is possible. The average for the first three quarters was 5.1 Per cent,” Rashid commented. “Also, the government has yet to finish its plan to increase expenditure.”
In Q3 the Malaysian economy had grown by 5.8% According to numbers released by the Bank Negara Malaysia. Growth for Q1 and Q2 was revised to 5.2% And 4.3% Respectively.
Despite the uncertainty of the global economy, a couple of Eastern economies like China and Indonesia, though affected, have remained strong.
Rashid also stated that external sectors have a negative impact on the Malaysian economy but domestic demand through the government’s policy initiatives will help to soften its impact.
“Private consumption will also remain healthy while private investment will be boosted by the implementation of projects under the ETP,” Rashid continued.
Eariler predictions by the Malaysian Institute of Economic Research indicated that gross domestic product growth for 2011 and 2012 to be at 4.6% And 4.2%.
There are clear signals that Malaysia is a country to watch for investment, with a number of investors looking to see how the country performs for the rest of the year.
Experience International a market leading London based overseas property investment firm has stated that it will expand its current portfolio of investments to include projects in Malaysia in early 2012.
The Asian property markets have shown good growth and performance over the past few years while the western world has been trying to recover from the economic downturn.
The Philippines has been a market to take note of and has seen a lot of activity with international brands and celebrities endorsing with} the property market in Manila. Trump Tower Manila, Versace Home designing the Milano residences, and Paris Hilton working on the Azure Urban Resort Beach Clubhouse for Century Properties are a few of the high profile new property developments in the Philippines.
We predict that the Malaysia property market will also attract a growing number of international investors moving into 2012 and the future and that we will see new internationally branded property development in the country also.
