Oversea Buying

Ohmyhome Makes First Overseas Move Starting in Malaysia



Published: 8 July 2019 in OnlineMarketplaces

Singaporean proptech startup, Ohmyhome, recently announced that it has chosen Malaysia to be its entry point into the overseas market.

In a press statement, it said it has officially launched in Greater Kuala Lumpur. There are also plans to introduce its service in Johor.

With its end-to-end service offerings in Malaysia, the proptech startup serves both only-Malaysian property transactions and cross-border transactions between Malaysia and Singapore.

Given that cross-border deals work differently from local ones due to variations in property ownership policies, processes and taxes, Ohmyhome said that it will provide step-by-step guidance in these negotiations.

Rhonda Wong, Chief Executive Officer and Co-Founder of Ohmyhome, said: “In the cross-border case, the payment will be made in the currency where the property is located. For example, if the property in located in Malaysia, the sale will be made in Malaysian Ringgit and if an Ohmyhome Malaysia agent is engaged, the agent fee will be paid in Malaysian Ringgit too.”

Users in Malaysia will be able to make use of Ohmyhome’s hybrid service model – a DIY (do-it-yourself) platform and agent service – to allow customers to manage housing transactions on their own.

The mobile application serves both Singapore and Malaysia markets and allows Singapore users to connect directly with potential buyers, sellers, tenants and landlords across the border. Cross-border negotiations and deals are also done through the application.

Read more here.

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