Bosco Wong Sweeps Up Four Properties in Malaysia
A smart businessman, Bosco Wong (黃宗澤) has always believed in diversifying his investments. Known for his passion as a restaurateur, Bosco is also a big investor in real estate. Currently owning two homes in Hong Kong and four properties in Malaysia, the 38-year-old actor rents out several of the homes for passive income.
Hong Kong’s real estate prices are one of the highest in the world, which prompted many local celebrities to buy more cost-effective properties in Malaysia in recent years.
Falling in love with the low property prices in Kuala Lumpur, Bosco has spent over $10 million HKD for his four homes. He notes that most of his properties are on mortgage, so he still has to work hard for money. In the meantime, he rented out the homes and will wait for them to rise in value.
Other than Bosco, The Defected <鐵探> star Phillip Keung (姜皓文) also bought a 5000-square foot luxury home valuing $6 million HKD in Penang, Malaysia for his wife Anna Kam (殷寧), as a present for their 18th marriage anniversary.
To promote foreign real estate investment, the Malaysia Tourism Authority and the Immigration Department of Malaysia has introduced a program called Malaysia My Second Home (MM2H) that allows foreigners to apply for a 10-year long visa to stay in Malaysia. Under no restrictions for the number of entries, this opportunity enables homeowners like Bosco and Phillip to travel and reside in Malaysia freely.
Source: hket
This article is written by Minna for JayneStars.com.
What’s with all the sudden interest in Malaysia? I mean COL is low, which I understand, but is it rising in value as a country? Why not Vietnam or Laos which are both shorter distance to HK than Malaysia? Even Mainland China is a good investment strategy.
@coralie the Chinese in Kuala Lumpur speak Cantonese fluently.. Bosco has friends there as well, and many Hongkies have relatives there..
@coralie Shorter distance, better food, similar culture, similar language, better weather maybe, good security perhaps.. mostly language and value and food and people and maybe he wants to marry a malaysian girl.
Because for Hong Kong, Malaysia’s real estate is dirt cheap. Their 400 sq feet flat’s value is our bungalow or condo in middle of city over 1000 sg ft. For Malaysians…our real estate is expensive and overpriced. A lot can;t afford the real estate in city now, or out of city or far away from city. HK can, China can, retired westerners can, we can’t.