PETALING JAYA: Anantara Desaru Coast Residences, a boutique branded residential community in Johor, has attracted interest from domestic and international investors since the start of the year as Malaysia’s residential real estate market shows signs of continued recovery.
In a statement, developer Minor International said 2022 saw all but two of its beachfront pool villas sold or reserved, and construction completed in its remaining three-bedroom terrace and four-bedroom duplex pool villas.
The Malaysian property market is well on its recovery journey following the Covid-19 pandemic-induced slowdown in 2020, with the volume and the value of property transactions showing improvement in 2021 and 2022.
While interest rate increases and the rising cost of living may be headwinds for other segments of the property market, the luxury segment remains resilient, bolstered by pent-up demand, positive macroeconomic sentiment following the election and the continued reopening of international borders.
“Going into 2023, we foresee growth in Malaysia’s residential real estate being primarily driven by niche high-end projects in premium locations: those that bring in both lifestyle as well as short- and long-term investment benefits,” said Micah Tamthai, COO, Lifestyle and Real Estate, Minor International.
He added that it also anticipates the current inflationary environment further boosting interest in luxury real estate among high net worth investors, as a way of hedging against inflation.
Significant public and private sector investment has raised Desaru Coast’s international profile: Time magazine included the destination in its 2021 “World’s Greatest Places” list. The only Malaysian destination to make the prestigious list, Desaru Coast was feted as “an ambitious new resort area (which offers) some of Malaysia’s most coveted luxury bolt-holes”.
Home to world-class hotels and resorts, championship golf courses, a family-friendly water park and a convention centre, Desaru Coast has additional leisure and wellness amenities in its master plan. It is linked to Singapore via the expressway and by daily ferry service, and connected to other international destinations through Johor’s Senai International Airport.
“Desaru Coast’s rising inter-national profile has fostered its reputation as an up-and-coming tourism and second home destination,” said Tamthai.
“With only a handful of beach-front residences remaining for private ownership, Anantara Desaru Coast Residences presents a fantastic opportunity for domestic and overseas buyers looking for a luxury hideaway or investment in a sought-after real estate market,” he added.
Ownership of Anantara Desaru Coast Residences units starts at RM8 million.