The property market in Malaysia is generally considered cheap, so many people are choosing Malaysia as a place to buy property. Prices do vary from city to city, but overall, the Malaysian housing market is good value.
With its warm climate, hospitable people, and stunning beaches, it is easy to see why Malaysia is a booming market for both tourists and people wanted to settle. Within this article, we will guide you through the basics of buying property in Malaysia and discuss the many reasons why people are purchasing real estate within the country.
Why Buy Property In Malaysia?
There are many reasons why people are choosing to buy property within Malaysia. Some people are buying property for a home for themselves or their family and see Malaysia as a welcoming place to call home. They would be right in that aspect; Malaysia is an extremely hospitable country and is home to such a wide range of diverse cultures. This is one of the many reasons people are choosing to live in Malaysia because they can see how welcoming the country is to other people and their cultures.
Another reason people are purchasing property in Malaysia is an investment opportunity. Owning real estate in Malaysia opens a lot of doors and opportunities for profit as many people visiting Malaysia may want an alternative accommodation to a hotel.
Once you have bought your own property, you can refurbish the space and make it a cosy spot for tourists to stay while they explore the country. Look for Jual Beli Rumah advertisement in PropertyGuru to identify the best homes to buy/ rent while you’re in Malaysia. This could help boost your investment portfolio or even offer somewhere for yourself to stay during the holiday season.
What Is The Property Market Like In Malaysia?
As mentioned in the introduction, the average price for property in Malaysia is cheap, but you will find price variations depending on your property. The most expensive housing you will find in Malaysia is, unsurprisingly, located in their capital city of Kuala Lumpur. As with most capital cities, Kuala Lumpur is an extremely desirable place to live, and, in some cases, property prices are double the national average level.
Busy capital cities are not for everyone, so it is important that you do your research if you are planning to buy property in Malaysia to live in permanently. For those wanting to retire to Malaysia or settle in with a young family, it could be more beneficial to look at houses in smaller cities so you can have a bit more peace and quiet.
However, if your intentions are to rent out the property, then owning real estate within the capital city could be in your best interest as Kuala Lumpur is a highly popular tourist spot. Tourists travelling in big friendship groups may prefer to rent out a home in the city centre as opposed to paying for a hotel as it gives them a bit more freedom to explore.
How Do You Choose The Right Property?
Of course, what property you chose will be dependent on what you want the property for. If you are buying property because you intend to live in it permanently, then you should take extra time browsing the market until you find one that meets your needs. Some of the most popular housing options in Malaysia are condos, flats, and bungalows. If you are moving to Malaysia by yourself, then a stylish condo or flat could be a great option for you. Most condos in Malaysia have access to luxury amenities like gyms and swimming pools which can certainly help the move a bit easier.
If you are buying property as an investment and with the intention to eventually rent it out, then there are extra things you need to consider. Firstly, you need to work out how many people the property can comfortably sleep and ensure that there is enough space for beds or sofa beds.
If your property will be housing up to six people, then it could be a good idea to find a property that has an additional bathroom, or at least space in which you can install an extra. It also goes without saying, but before you buy any property, you must make sure you get it surveyed so, you know it is in proper condition. On moving day, the last thing you want is to discover any major damage.
Summary
Buying a property in Malaysia comes with many benefits, and truly one of the main ones is that you get to be a part of a country with such a rich and colourful culture. Whether you are choosing to settle in Malaysia as your home, or looking for an investment opportunity, hopefully this has been a helpful guide to get your journey started.