The capital city is the first port of call for most people
passing through the country, and many buyerfind homes in the various
neighbourhoods that surround the capital and form part of Greater KL.
The capital balances the combination of being a modern
metropolis and cultural city fairly well and KL offers all the comforts you
could wish for, so living within close range of the area is a real plus point.
The city is also convenient for KLIA and the KLIA 2 – air links to the region
and the world – and has good transport and road connections to the rest of the
country and the region. Plus, city living does not necessarily mean living in
the manic heart of KL itself; the various surrounding neighbourhoods – the
hotspots being Bangsar, Sri Hartamas, and Mont Kiara – can offer a more
community-focused life.
It goes without saying that prices are higher in Greater KL
than in other areas, and as more and more apartment buildings go up, some may
worry that value will drop. Prices vary, but a 5-bedroom house in Mont Kiara
starts at RM1.65 million. Be aware that, as the “hotspot” areas continue to
change rapidly, there is a chance that an ugly building that disrupts your view
may be built.
2. Selangor
Just across the state boundary in Selangor,
life feels a little less crazed. There are parts of Petaling Jaya – the most
prosperous region in the state for property – where secluded houses with views
of lakes and parks exist, offering solitude and yet retaining good links to the
highway network.
An increasing number of companies are
making their headquarters in Selangor, and with a number of international
schools located here, many people are looking to areas such as Ampang and Seri
Kembangan to invest their money. Prices can be cheaper here than in places such
as Bangsar, but new rules imposed by Selangor regarding property purchases by
foreigners largely offsets this.
For those working in the city centre, living
in Selangor adds more time to the daily commute, although there is an LRT train
line running from Gombak to Kelana Jaya or the KTM which runs all the way to
Klang.
3. Penang
More and more expats are choosing to make
Penang their home, as the state offers island living in a city rich with
heritage and culture and some of the best food in the country. There is also a
choice of excellent and well-established international schools and a thriving
expat scene, while local Penangites are also becoming increasingly proud of
their island.
Penang will be heavily involved in the
Northern Corridor Economic Region development plan which is aimed at raising
the social and economic
standards of the northern states, and many
high-profile projects have already been planned for Penang.
Bearing all this in mind, it comes as little
surprise that Penang house and apartment prices are on the rise, and the cost
of a 5-bedroom bungalow in the Batu Ferringhi area is comparable to a house in
Bangsar in Greater KL, but with a sea view, of course!
4. Johor
The third-largest state in Peninsular
Malaysia, Johor has always benefited from its proximity to Singapore and offers
a mix of modern culture and rural, coastal life.
Johor is set to become a serious
residential and commercial hub thanks to the Iskandar Development, which is
already well underway, with superb residential areas being built. The Iskandar
region also offers many campuses of various educational institutions from all
over the world.
Prices start at around RM300,000 for a
3-bedroom condominium, but can rise to around RM2.3 million for a house in one
of the stunning new developments that offer facilities such as golf courses,
shops and restaurants, and 24-hour security.
5. Sabah
Sabah is known to tourists and expats alike
as a nature lovers’ paradise with its lush rainforests, fascinating wildlife,
and stunning beaches. While it may not be a great location for those working –
most jobs will be in Peninsular Malaysia – many expats are choosing to retire
in Sabah, and property developers have responded by producing exotic properties
to tempt those looking to invest.
The state is well-connected to KL and the
region via Kota Kinabalu International Airport, and as the area sees a steady
stream of tourists, many people are choosing to buy holiday homes. Prices for a
3-bedroom condominium start from around RM450,000 but can rise to RM1.7 million
for some of the new developments. Those with an eye for business could snap up
a new apartment or two and then see steady returns by renting them out to the
constant influx of tourists and expats.
