There are many reasons why Brits choose to buy abroad, but a new report out just in time for Valentine’s Day claims that looking for love is one of them!

According to new research published by Foreign Currency Direct, a foreign currency exchange provider, nearly one in five (17%) of people in the UK would move abroad to find love or romance. It may sound like a small percentage, but with over seven million singletons in the UK, this equates to over one million Brits prepared to leave the UK in search of love.

The Bail Out Britain research involved surveying different age groups of people in different parts of the UK. Not surprisingly, the youngest age group - 18 to 24 year olds - who typically have fewer commitments and ties, were the most willing to move abroad for the purpose of finding love. But 21% of 25 to 34-year-olds, 17% of 45 to 54-year-olds and 10% of those aged 55 and over also claimed they’d do the same.

It’s perhaps not the most widely claimed reason for moving abroad. Some of the more common reasons include for investment purposes, to start a new life, for retirement, to be with family or due to employment. The question is, would you move abroad purely to seek out love and romance?

Increasing commercial activity has led to a rapid increase in investments in real estate all over the world but Malaysia has surpassed all expectations. Malaysia’s capital, Kuala Lumpur, is developing rapidly as an international level commercial hub as multinational companies are seeing the growth potential that comes with its highly efficient manpower and multi ethnic, cosmopolitan environment for living and working. The increasing expatriate presence in the country has lead to a greater demand for commercial, residential and buy-to-rent properties.

It is the economic and political stability offered by the Malaysian government that is attracting foreign real estate investments. In fact, the government of Malaysia has modified existing laws to encourage foreign investments through tax benefits and relaxed real estate laws for foreign investors.

Malaysia’s buoyant real estate market is boosted by the tourism boom

According to the recent World Tourism Report, Malaysia is the one of the top 5 countries out of the 53 Commonwealth members with the greatest number of tourist arrivals. This tourism boom has given rise to a host of commercial real estate ventures, ranging from offices to hotels and restaurants.

Malaysia has seen an amazing number of overseas tourists in the last 10 years and numerous water front real estate prime spots have become much sought after properties. The year-round tropical climate is another great advantage that lures investment in the ‘My Second home’ schemes encouraged by the Malaysian government.

Law reforms and cheaper buying costs favour foreign investment

As a former British colony, Malaysia’s laws pertaining to real estate and land are at par with the current UK laws. And, with English as a medium of communication, people from all over the world come to Malaysia to work.

Statistics show that as per the Ninth Malaysia Plan, both the commercial and the residential sectors went far beyond the set targets and expectations. This plan for the period 2006 to 2010 focuses both on low cost residential units and high end luxury properties.

Comparing the volatile Kuala Lumpur real estate market with the Singapore and Hong Kong markets, Malaysia is still cheaper, with low buying costs of 3.4% to 6.5% of the total property value, which also includes the agent’s commission of 2.75%. With a change in laws, foreigners are now allowed freehold property ownership, which has led to a higher influx of affluent expatriate investment in residential luxury condos. In fact, the main force behind the steady drive of real estate investments comes from the residential properties that are being bought extensively by people in the age group of 30 to 40 years.

Malaysian real estate is expected to be very profitable in the next ten years

In 2006, high-end properties had a tag price of RM 1,000 (212€) per sq. ft but the current prevailing rate has already skyrocketed to RM 2,000 (525€) per sq. ft at the upcoming luxury condos. This is a clear signal of the foreign investor funding that the Malaysian real estate market is receiving. With the Ringgit getting stronger against the Euro and the US Dollar, real estate has got an impetus and the property market is estimated to appreciate further this year.

Malaysian retail industry is on a high too, with the Mega Sale Carnival held three times a year. This has resulted in malls like Mid Valley Mega mall, KLCC and others witnessing nearly 10% growth. Riding high on the retail industry boom, investors have funded the launch of three more mega malls including the Sunway Pyramid extension.

The Real Property Gains Tax waiver has led to a spike in the land prices in prime locations in Kuala Lumpur. Property investment experts believe that with the economic and political stability in Malaysia, foreign investors will consider Malaysian real estate market very profitable in the next 10 years.