What about investing in heritage buildings?
THEN George Town in Penang and Melaka city were inscribed into Unesco’s World Heritage List in 2008, it was an international recognition that the nation was proud of. Since then, these two cities have seen a renewed interest in heritage preservation and investment.
Eager to play their roles in the conservation of the unique multicultural traits of these pre-war properties, many have invested money, time and effort in fashioning them into boutique hotels, cafes, restaurants and even museums or galleries.
However, just what constitutes a heritage property? If you are interested in buying one, what should you look out for? In terms of dollars and cents, are they worth putting your money in?
According to Savills Malaysia Sdn Bhd executive chairman Datuk Christopher Boyd, the term “heritage building” is loosely used and generally covers buildings that are at least pre-World War II and have a distinct design or visual appearance.
“Examples are old shophouses with eclectic features including Roman and Greek facades, as well as those built in Art Deco style. You can also find Mughal features and some older residences built in the classic Anglo-Indian style, which I find very attractive,” he shares with EdgeProp.my.