Earlier this month, an article from the Huffington Post mentioned that renting in Malaysia is easy and affordable.
The article, courtesy of InternationalLiving.com, says that renting is easier than buying, because of the added complication when buying properties in Asia, such as legal restrictions. This is why most foreigners choose to rent. And the top three places recommended for renting by the writer are:
- The Philippines
According to the writer, Malaysia is Asia’s best retirement destination and Kuala Lumpur, Malaysia’s capital, and Penang are recommended. Those who wish to purchase property can buy almost any kind of freehold property under their name as prices aren’t too expensive.
The writer says that there are many places one can choose to rent depending on preference of view, such as the jungle, sea and city. He highlights Penang more for those who prefer the sea side, and says that places such as George Town, Pulau Tikus, Tanjong Tokong, Tanjung Bunga and Batu Ferringhi are highly sought after because of its sizable expat communities.
“A 2,000-square-foot apartment in Pulau Tikus, for instance, with three bedrooms, two bathrooms, a maid’s room with bathroom, a pool, a gym, and two covered car spaces in a secure lot, costs just $936 per month.”
“Keep in mind that real-estate agents will charge you a fee of one month’s rent once you have chosen your property, and that the landlord will also want a one-month’s deposit (100% refundable when your lease expires). One-year leases are common, but landlords will always try to push for three years. If going for a longer lease, bargain for a lower rental.”
“An expat friend of mine recently agreed to a three-year lease on a 5,000-square-foot for anywhere from $1,600 to $3,000 a month. Everything in Asia is negotiable.”
Read the full article here.
- US News Ranks Penang’s George Town and Kuala Lumpur among Best Cities in the World for Retirement
- 5 Tips for Renting a Home in Penang
- Choosing Penang as a Retirement Haven
Story and quote from: The Huffington Post