Malaysia exports reach Record High
Overseas Property News - Malaysia
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Malaysian exports have reached a record high, jumping 22 percent in May from a year earlier and far exceeding market expectations.
Exports totalled US$18.57 billion in May - the highest monthly exports ever recorded - thanks to shipments of electrical and electronic products, palm oil, crude oil, refined petroleum products, and chemicals.
May's growth in exports was the quickest since September 2004, when exports rose by 30.5 percent, and the Southeast Asian country expects exports to grow 6 percent in 2008, more than twice as fast as last year.
Malaysia, as a net oil exporter and the second-largest palm oil producer in the world, is largely benefiting from the rise in global prices of commoditites related to fuel, food and building materials. While other countries suffer from high oil prices, Malaysia is profiting and the country has also gradually reduced its dependence on electronics orders from the United States, seeing robust growth in the sector.
The tourism sector is also booming, with tourism arrivals growing 3.1 percent in May on the same period last year, and growing 20 percent from 2003 to 2007. The real estate sector is one of the strongest in the world and Malaysian property is expected to grow by no less than 20 percent per year, and possibly by as much as 25 percent over the next few years.
Kuala Lumpur attracts rental yields of 8-10 percent, and yields are expected to be even higher on resort property in Sabah where the very high occupancy figure of 72% is coupled with a severe holiday bed shortage.
DSR currently has two properties in Kuala Lumpur. Their Vivaldi property is a new off-plan condominium in Mont Kiara offering high end resort living with ultra modern facilities and all the conveniences of being in an urban location. Every apartment has its own private lift access. Every block has its own private lobby. Every resident can enjoy the comprehensive clubhouse; the cantilevered gym and swimming pool; the cascading waterfall; the open-plan spaces.
The overseas property specialists' second property is The Crest. Situated in Jalan Sultan Ismail The Crest it is a five minute walk from Kula Lumpur city centre and the world's tallest twin buildings, the Petronas Twin Towers.
In Sabah - where over two million tourists visited alone in 2006 - DSR's luxury villas and low rise condominiums are on a private beach managed by an award winning 5 star resort. Designed by world class architects WATG, this private piece of paradise is set in beautiful landscaped grounds and stunning natural surroundings yet is only 30 minutes from Kota Kinabalu international airport.
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