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Learn more about the Malaysia apartment market through trends and average prices.
Malaysia is a federal constitutional monarchy located near the Equator in Southeast Asia and is divided into two distinct regions: Peninsular Malaysia (West Malaysia) in the Malay Peninsula and East Malaysia on the Island of Borneo. The two states are separated by more than 600 km by the South China Sea.
In recent years, Malaysia has been gaining lots of attention among international tourists, and it is not hard to see why. From the dense urban jungles of Kuala Lumpur to the pristine beaches in the Perhentian Islands, the country has a lot to offer for international visitors.
Besides tourists, Malaysia also attracts students, young professionals, families, and retirees from all around the globe. It is now a highly attractive country for expatriates, partly due to the initiatives established by the country’s authorities to attract foreign workforces. The influx of visitors in the country has resulted in high demand for rental properties, making the country one of the most appealing destinations for foreign investors.
Kuala Lumpur, often colloquially referred to as KL, is the capital of Malaysia. Covering an area of 243 square kilometers with an estimated population of over 1.7 million people, it is the largest city in the country. It is filled with luxury shopping malls, trendy bars, and upscale restaurants. However, it is firmly rooted in tradition, as well. You can find numerous delicious food stalls and interesting markets selling all kinds of things, especially in areas such as Little India and Chinatown. The city is home to the famous Petronas Twin Towers, and visitors can travel up to the 41st and 42nd floors to enjoy a mesmerizing view of the city.
Just a couple of hours drive south Kuala Lumpur is Malacca (Melaka), which is known as the birthplace of Malay Civilization. Melaka is known for its historical architecture and cultural attractions, such as the Sultanate Palace, Stadthuys, Cheng Ho Cultural Museum, and Cheng Hoon Teng Chinese Temple.
Much further up the west coast, visitors can find Penang. Its capital, Georgetown, is recognized as a UNESCO World Heritage Site thanks to its cultural and architectural diversity. Here, visitors can admire numerous beautifully restored colonial buildings or explore its vibrant Chinatown.
Those who want to relax in Malaysia’s finest beaches normally go to Pulau Perhentian and Pulau Tioman. Both are located at the Peninsula’s east coast and offer unmatched natural beauties.
Globally, an apartment refers to a residential building owned by a single entity. So, rather than individual landlords, it is owned by a consortium or a developer. However, apartments in Malaysia is usually used in reference to facilities. It can be defined as a moderate quality multi-storied property with basic communal amenities, such as swimming pools, gyms, playgrounds, landscaping, and multi-level parking. They usually come with a security gate and security as well.
There are a number of unit types in apartment buildings, ranging from studio room to one- to three-bedroom. The average apartment unit in the country comes with two to three bedrooms, with 2 bathrooms, and a designated parking space. This type of unit is frequented by couples or families who need more rooms.
Studio apartments are popular among single expats. The whole apartment is one large room that serves as multiple rooms. The only place that is separated by walls is the toilet and bathrooms.
Malaysia offers a high standard of living, with modern infrastructure and amenities, but the cost of living is relatively affordable. Since the cost of living in the country is about 40% lower than in the United States, many foreigners can live comfortably on very little in the country. For around 10,000 MYR a month (approximately 2,500 USD), foreigners can live exceptionally well.
The official currency of Malaysia is Malaysian Ringgit, and 1 USD will get you around 4.22 MYR. It is easy to find ATMs accepting international cards in the country, and credit and debit cards are accepted in most established restaurants and hotels.
Islam is the official religion of Malaysia, with around 61% of the population identify as Muslim. Buddhism, Christianity, Hinduism, and Chinese Religions are freely practiced in the country as well. The Malaysian Constitution protects freedom of religion for its citizens.
There are 137 living languages spoken in Malaysia, but the official language is Malaysian Malay. English is widely spoken and understood in the country, particularly in service industries. Besides Malaysian Malay and English, Tamil and Mandarin are also spoken by a considerable number of people in the country.
Since Malaysia is located within the tropics near the Equator, it enjoys hot and humid weather all year round. The average temperature rarely drops below 20°C or soar above 30°C, and the country experiences two seasons, wet and dry season. November to February is the wet season on the east coast, but it is the dry season on the west coast. On the other hand, the east coast enjoys sunny and dry weather from March to October, while the west coast experiences the wet season.
Permits are needed for foreigners to live in Malaysia for an extended period of time. The options are Residence Pass-Talent, MM2H (Malaysia My 2nd Home), Multiple Entry Visa, or Permanent Residency Permit.