Malaysia
KUALA LUMPUR
The city’s comparatively open real estate laws and extremely low cost of living has seen foreign investors pour into KL over recent years. Investors have been seeing consistently good returns on their investments as the city’s burgeoning expatriate population pushes up demand for residential property. Property prices have risen by between 15 and 30 per cent in total over the last five years, although growth has become more modest in the past 12 months. KL’s fundamentals however, are still strong and one of the city’s key draws was highlighted recently by a recent report compiled by Swiss bank UBS. The study found that Kuala Lumpur is the number one city in the world when measured on a cost of living index. More on buying property in Kuala Lumpur.
PENANG
Malaysia’s Prime Minister, Datuk Seri Abdullah Ahmad Badawi, recently revealed government plans to develop the country’s northern region. Dubbed the Northern Corridor Economic Region (NCER), the plan will introduce a slew of projects to spur growth and boost income levels in the states of Perlis, Kedah and northern Perak. Penang is also included in the masterplan and is expected to play a major role as a logistics and transportation hub and a gateway to the region.
More on buying property in Penang.
PORT DICKSON
With ready sunshine, beautiful beaches and low cost of living all within easy reach of Kuala Lumur, Port Dickson is a good choice for buying property both for investment and holiday purposes. One of the more popular locations for foreign buyers is the Blue Lagoon; one of Port Dickson’s more quiet and peaceful beaches. Bagan Pinang is another popular locale near Port Dickson town area, close to most of the more well-known resorts and hotels. The most sought after location however, is Teluk Kemang; Port Dickson’s most popular beach with excellent tourist facilities. The frequently busy beach is covered with fine orange sand and is the best place in Port Dickson for watersports enthusiasts. More on buying property in Port Dickson.
KOTA KINABALU
Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi recently launched the much-awaited Sabah Development Corridor (SDC) with a promise of up to RM16 billion in development funds to be allocated over a five-year period. Under the SDC blueprint, various projects will be implemented to turn the state into a regional trading hub with modern infrastructure and world-class facilities. More than a dozen joint-venture agreements have been signed between local and foreign companies in sectors like tourism, agriculture, logistics and manufacturing. Companies from China, Singapore, Japan and the United States were among those who participated.
More on buying property in Kota Kinabalu.
LANGKAWI
Much of Langkawi’s overseas property market stems from the countries in its immediate vicinity with buyers from Singapore, which is only 32km away, being chief among them. Singapore proximity means that many buyers live in Langkawi and then commute into the Lion City. This option has become increasingly popular among Singaporeans over recent years who at present make up 14 per cent of overall buyers. Just 2 per cent come from other overseas markets with the remainder being made up of Malaysians. The price difference between Langkawi and Singapore is also startling; bungalow land in high-end Langkawi developments is about RM30psf compared to S$200psf in Singapore.More on buying property in Langkawi.
