Whether you are looking to settle in the suburbs or on the edge of the jungle, here is a rundown of some keys place to invest in Malaysia. You can find a list of recommended agencies and search our extensive property database at www.PropertyinMalaysia.com.
The financial and cultural heart of Malaysia, KL is centre of the action. A city of approximately 1.8 million people surrounded by a ring of satellite cities, KL offers an expat all the comforts of home. There are thriving commerical centres throughout the city with ample shops and restaurants. Homes in KL vary from semi-dettached bungalows along quiet residential streets to sky-high condominiums. With new properties going up every day, there are homes to suit any budget.
According to the Economist Intelligence Unit, Kuala Lumpur is still one of the world’s least expensive major cities to live in. Swiss banking giant UBS also rated KL as the cheapest of seventy-one world-class cities in 2008 and 2009.
Selangor is the richest state in Malaysia in terms of gross domestic product, and the second richest in terms of gross domestic product per capita, second to Penang. There is a population of around 5 million people.
The performance of the Selangor propety market places it as one of the strongest in the country, although it too has taken a hit since the recent downturn. Of the many urban centres in Selangor, Petaling Jaya is the most active in terms of property development. The Klang-Shah Alam corridor has also grown with the development of projects such as Bandar Bukit Tinggi, Setia Alam and Seita Eco Park. A good place to look at for those interested in buying property is Jade Hills, located in Kajang.
Penang has an expanding population, currently at 1.5 million. The government recently revealed plans to develop the Norther Corridor Economic Region (NCER) – an economic and social initiative aimed at increasing income levels of Malaysia’s four nothern states: Penang, Perak, Kedah, and Perlis. Penang will be a focus of the NCER initiative, with many high-profile projects ear marked for the state, including a new RM2.7 billion bridge to help ease traffic congestion to and from the island. The property market in Penang is also set to benefit from NCER initiative. Developers also hope to compete for foreign investment under the MM2H programmes, especially for the high-end seafront properties.
Despite the global recession, the Sabah property market remains active. In particular, developers are launching projects to meet the demands of foreigners looking to buy property under the MM2H initiative. Kota Kinabalu and Karumbanai are the two most popular areas for this type of investment. With a tourist population that almost matches the states own population of 3.3 million, holiday properties are particularly lucrative in Sabah.
The third largest state in penninsular Malaysia, with a population of 3.3 million. Johor neighbours Singapore and is a mix of modern culture, island life, urban settings and great biodiversity. Plans are afoot to develop a resort and waterfront city within a massive 2,217 square-kilometre area, and this includes a new township called Bandar Nusajaya. It will comprise of high-end residential and commerical properties, and experts say it will be the dirving factor of the Johor property market.
Taman Laguna is said to be another development to watch in Johor. Several of Taman Languna’s building stages have been completed already, and the project is scheduled for completion in 2013.