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The
Malaysian government is actively trying to improve the environment for
expatriate looking to invest in the country, the upshot is that its
capital city, Kuala Lumpur has become the regional headquarters of many
of the world’s major corporations and its landmark Petronas Twin Towers
at Kuala Lumpur City Center (KLCC) are the centre piece that kicked of
Malaysia’s construction boom.
With rapid urbanization underway throughout the city, districts such as
Mont Kiara and Petaling Jaya (PJ) which is close to KLCC are becoming
highly sought after property locations with the international affluent
expat community and Malaysian city executives seeking up market serviced
residences close to international schools and attractive shopping
plazas.
Driving through this global village, Mont Kiara appears to be
condominium central with upmarket residences popping up on every corner
and the success of project brands such as I-Zen, property prices in Mont
Kiara, Damansara and certain area in PJ have been reported to be stable
achieving good capital appreciation and prices are likely to continue to
rise given the increase in land price. In addition, average occupancy is
about 95% and rents remain stable ensuring investors enjoy attractive
rental yields averaging 8-10 per cent, with the better properties
fetching as high as 15 per cent.
The high-end and niche market is expected to continue flourishing with
the outlook for these property developers looking bullish, enjoying the
benefits of a recent Government ruling relaxing the rules on foreigners
owning residential properties. Klang alley and its surrounding area is
just the start of things to come.
Go down to
southern part of peninsular, growth of Iskandar Malaysia’s property
market in Johor Bahru (JB) continues to be in focus by foreigners,
especially from Singapore. Singaporean property investors are taking
serious interest in the development of the Iskandar Malaysia economic
corridor. The popular areas generally cover the Danga Bay precinct,
Medini at Nusajaya, Puteri Harbour vicinity, the Tebrau basin (from
Taman Molek up to coastal Permas Jaya and Kota Putri) and Mount Austin
towards Ulu Tiram, as more high profile developments are expected to
launch soon.
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