Malaysians overtake Chinese interest in Melbourne market

Malaysians have overtaken Chinese investors as key players in Melbourne’s property market. Demand has become so great one agency has set up an office just to deal with Malaysian buyers. Local schools and business opportunities are among drawcards. Jalin Realty founder Ian Chen, whose international agency has opened a Melbourne office to meet the growing demand, said he manages 400 properties for Malaysian investors citywide. “Victoria has some of the best universities and naturally parents want their children to study in Melbourne, where they often have relatives and friends as well. “Southbank is popular because it has lots of apartments and it’s not too far from the city lifestyle and universities.”