Investment Property in Miri

Investment Real Estate in Miri

Miri property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Miri.

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Search Map of Miri Investment Real Estate

Miri (Jawi:

ميري‎; Chinese: 美里; pinyin: Méilǐ) is a coastal city in northeastern Sarawak, Malaysia, located near the border of Brunei, on the island of Borneo. The city covers an area of 997.43 square kilometres (385.11 sq mi), located 798 kilometres (496 mi) northeast of Kuching and 329 kilometres (204 mi) southwest of Kota Kinabalu. Miri is the second largest city in Sarawak, with a population of 234,541 as of 2010. The city is also the capital of Miri District of the Miri Division.

Before Miri was founded, Marudi was the administrative centre of the northern region of Sarawak. Miri was founded in 1910 when the first oil well was drilled by Royal Dutch Shell. The discovery of an oil field in Miri has led to rapid development of Miri town. Miri became the administrative centre of the northern region of Sarawak by 1929. During World War II, the Miri oil fields were destroyed by the Brooke government to sabotage Japanese operations in Southeast Asia but to no avail; Miri town was the first landing point of Japanese troops in Borneo. The subsequent Japanese occupation led Miri to become a target of Allied air raids which caused the destruction of oil refinery facilities in Miri. The petroleum industry continued to be a major player in the city’s economy after the war. Oil exploration has moved offshore since the 1950s, but subsequently new inland oil fields were found in 1989 and 2011. In 1974, the formation of Malaysian oil and gas company Petronas led to co-operation between Petronas and Shell on oil exploration in the Miri region. In 2005, Miri became the 10th city in Malaysia to be granted official city status, the first non-state capital city to be bestowed such status.

Miri is the main tourist gateway to the world-famous UNESCO World Heritage Site, Gunung Mulu National Park; Loagan Bunut National Park; Lambir Hills National Park; Niah National Park and Miri-Sibuti Coral Reef National Park. The Gunung Mulu National Park with its Sarawak Chamber, which is the largest known cave chamber in the world by area, remains one of the favourite ecotourism destinations in Miri. Miri is also the birthplace of the Malaysian petroleum industry. Other major industries in the city include timber, oil palm and tourism .

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The financial stability of Miri has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

Buy to Rent in Miri

Renting out your Miri buy-to-rent investment property can grow wealth and income.

Whatever your goals with investment property in Miriare – preparation is key.

Set goals based on how much rental yield will be required and the local rental yield rates in Miri and be prepared to change your initial outlook.
Thoroughly research the Miri location with a special emphasis on fringe areas outside the main Miri metropolis that may be valued lower than their better-known neighbours. Rental yields of around 5% are still attainable in certain areas of Miri.
Ensure that your target investment property in Miri appeals to professionals. This is a demographic that ensures maximum income and low voids.
Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent such as Physis Realty with local knowledge and experience of property legislation will give you the best chance of success.
You may think that managing your Miri properties yourself is an easy option, but are these savings justifiable when you run into Miri red tape? Physis Realty Miri office in downtown provides you with peace-of-mind and leaves you time to plan your next move in the growing Miri buy-to-rent sector.

With our expert guidance, investing in Miri provides the secure knowledge that your money is working harder than it would in a local Miri bank and that future generations of your family will be left with substantial capital growth assets.

We are always happy to advise on buying investment property in Miri, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Miri property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Miri

Flipping property in Miri

Flipping property is when we advise clients to buy a Miri property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Miri market has a time to react to the renovation.

The Flipping Strategy in Miri

Investment property flipping in Miri is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Miri real estate investments are sometimes referred to by professionals as ‘distressed’ Miri real estate.

What is distressed Miri property:

Miri property in need of renovation
Miri real estate with a change of puropose and use
Oversold Miri property
Bank repossessions in Miri

Put simply, long term investors in Miri purchase the property, renovate it and make it a lot more attractive to potential buyers.

Calculate profit that you make from Miri investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Miri property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

Experienced property developers in Miri use a minimum profit value of 22% when looking at potential Miri projects. The reason for this is because there are lots that can go wrong in Miri property flipping and working on a potential margin of 22% should still leave a good margin of error.

Luxury Property in Miri

For luxury property investors hoping to add a superb property in {AsainCity} to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

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A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Miri, Physis Realty caters particularly to high net-worth individuals and families in Asia. A luxury real estate investment in Miri should be entrusted to only the highest-quality agency.

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