Effect of yuan devaluation on Johor property market

JOHOR-BASED KGV International Property Consultants (M) Sdn Bhd director Samuel Tan Wee Cheng says it is “too early” to gauge the impact of yuan devaluation on the Johor property market.

“The top range of well-heeled Chinese buyers tend to buy in the United States, Hong Kong and countries with more stable currencies. Malaysia and other South-East Asian destinations will attract the less wealthy of the lot.”