Although the country of Malaysia is rich in history and culture, that doesn’t mean it was always a prime destination for real estate ventures. However, whether you’re a lifelong resident or an expat looking for a new retreat, now is the time to purchase Malaysian real estate given the exciting developments in the national economy and burgeoning industries such as tourism and individuals seeking medical services. While real estate sectors in other countries have shown decline, the market in Malaysia has continued to look promising. However, one of the most important factors you need to consider is where to buy. Here are a few pointers about not only why it’s time to buy real estate, but also, how to conduct an effective, fruitful search.
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- Prices Are Rising
You don’t need a financial advisor to tell you when prices are rising, time is of the essence, and that’s the case when it comes to Malaysian real estate. For example, according to Property Guru, price trend of house for sale in Kuala Lumpur has been steadily increasing over the decade. This is a perfect example of a township that offers attractive packages for would-be homeowners. Most premier, new real estate in Malaysia, as is the case with other countries with burgeoning real estate markets such as India and Singapore, is being erected in townships. One reason that these locales are so popular is because the actual units themselves not only boast state of the art decor and design, but are also situated in carefully kept grounds with convenient services such as on-site hospitals, schools, and shopping.
Although many residents prefer to still be nearby to large metropolitan centers, living in a township provides the best of both worlds. This is one of the top reasons that the prices of new real estate are rising steadily. The best properties in preferred townships are being bought up at a fast pace.
- A Diversifying Economy
One of the most important ways to gauge how reliable and long-term an investment in real estate will be is to assess what’s happening with a country’s economy. Malaysia is looking at a healthier GDP growth and this accounts to a stable economy. This makes it a particularly attractive destination for prospective overseas investors as well as local investors. Taking out a mortgage to pay for your home over a period of years for a nice home is a more attractive prospect where there’s financial security. Therefore, if you’re considering purchasing property, the time is ideal. Unlike many world economies that have seen the housing market collapse or major inflations, real estate in Malaysia has continued to be a growing sector.
There are also a number of ways and reasons to purchase property in the first place. If you are looking for homeownership, there are lots of options out there, though there may not be for long. If you’re an expat or a foreigner, and looking to generate income with tenants, there are other things to consider, but purchase price is on the list of upsides. Having tenants can be a tricky business, but if you’re worried about whether a purchase will be a fruitful investment, that shouldn’t be as much of an issue.
- Amenities Galore
The expression “getting the most for your money” is more applicable today than ever. You should expect most of the townships you look at to have impeccable landscaping, a must have for any prospective homeowner in Malaysia today. Standards you can expect are open spaces to jog and enjoy nature, full-time security, fitness centers for township residents including pools and gyms, and even common social spaces. If there aren’t shopping centers on-site, then usually they’re very nearby. These townships are designed with convenience in mind. Not only that, but you should also consider carefully the access the location provides to transportation. If you commute to work via car and you require easy access to a highway, for example, you’ll need to ensure that the township you’re looking at is in proximity to major roadways. The same goes for public transportation.
If you’re an investor, the same standards apply. No tenants are going to want to pay for a rental unit that they can’t commute from. Although the real estate sector in Malaysia is prime right now, that doesn’t mean you can afford to forsake basic common sense.
If you’re still debating whether to go ahead with a real estate investment in Malaysia, now’s the time to strike. Whether you want to rent out a property or live there yourself, there are lots of reasons to move forward. As years progress, you’ll undoubtedly see prices continue to rise. There are many reasonably priced homes that are also in premier townships, but they won’t last long as the country’s real estate continues to become an increasingly popular investment for both expats and Malay citizens alike.