Kuala Lumpur Real Estate Market – A Quick Overview
Cash flow is hardly unidirectional, and in the fast-changing competitive world, the person who succeeds to diversify cash flow in the most practical way stays ahead in the race. Saving for the future in a manner that will return you more than what you invest, at least the optimism of not losing it, is not everyone’s cup of tea. More than gold and bonds, real estate investment provides you wider options to bank your money, earn on your money and extract from the investment. On a long-term basis, real estate investment considers the location and future scopes of development for deciding on the property.
There is always a slope in Kuala Lumpur
Business, education, skyscrapers, tourism, and settlement, this is a city that never fails to surprise. The investment potential of the city is such that when the world market is down, Kuala Lumpur would be up. If you invest here, you can be sure to get your returns one form or the other, it is just a matter of time and opportunity. That is why, despite almost 40% of the completed properties are still awaiting owners, the builders are not stopping their work.
When the luxury property market was hit, affordable housing got an uplift, with planned apartments and societies finding many takers from residents and foreigners. When the minimum reserves for foreigners increased from 750,000 Malaysian Ringitt to MYR 1 million within a year, condos came in the highlight as they were the nearest and most conveniently available near this price range. You can easily get medium-built houses with yarded lands in the townships around the city center within this value, which easily get promoted as a must sell property for sale in Kuala Lumpur.
Kuala Lumpur is the most expensive Malaysian city in terms of housing prices, with average rates going past MYR 7,85,000. The main reason behind this is that it is one of the fastest growing metropolitan city in the region, with a spur of development in all sectors, especially in tourism, transportation, and lifestyle.
With accessibility and parameters pertaining to the human development index including safety and comfort remain amongst the highest in standards, the real estate demand will always see the climbing side of the slope. Kuala Lumpur has recently been ranked as 70th best on the livability index in the world, and the property prices are well above the national average in specified locations within the city.
The city doesn’t have any limitations as far as accessibility to living resources, luxury shopping, travel options, and government-imposed tax regulations are concerned. Therefore, owning property gives you a better benefit than renting or leasing out a property for a specified time period. The restrictions of the number of properties you can hold are also relaxed by the government to encourage builders to build more world-class apartments. A condo or an entry-level apartment in one of the quiet suburbs will be an ideal choice as peace of mind is guaranteed in these type of properties.