Malaysia property boom spurred by increasing expat numbers

Published:  18 Apr at 6 PM
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Tagged: Property Abroad
As a result of its successful economy, an increasing number of expats are heading for Malaysia, causing house prices and rentals to soar in popular areas in which to live and work.

New records are being set for property prices in Kuala Lumpur as well as for rentals of condominiums and houses, and George Town is fast becoming another expat hub for its picturesque colonial quarter combined with easy access to KL and neighbouring countries. Retirees as well as expat workers are attracted by the comparatively low living costs, warm year-round weather and modern facilities.

The country’s booming economy is being underscored by huge governmental investments in first-class infrastructure, roads and comprehensive transport and logistics links with neighbouring countries. Preparations for the inception of the ASEAN free trade and free movement community at the end of 2015 is attracting Western businesses comfortable with Malaysia’s modernity and economic status.

Other developments include impressive medical facilities, offered without long waiting times and at reasonable cost and spread around the capital and other major cities. The sports and leisure industry originally set up for Malaysia’s growing tourism sector is now being expanded to include the expected increase in foreign residents.

With property prices on the rise and investors from Singapore looking to expand their rental portfolios, the Malaysia government has advised developers to concentrate on a broader range of properties including single-household homes. Malaysia’s younger generation as well as expats with an eye to investment are expected find such developments especially interesting.
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