When it comes to property buying, Malaysia has some of the most exciting options you can find around the region. Put aside the Coronavirus pandemic that happened in 2020, the real estate market in Malaysia has been growing quite steadily over the last 2 decades.
The market is still dynamic
While the pandemic has caused investors and property buyers to slow down on spending and purchases, this segment continues to attract and is still very much relevant. In fact, 2020 has seen a lot of property prices dropping. Market observers believe that this is somewhat a better reflection of the actual price of properties that have been inflated in the past. The prices from 2021 onwards are seen as more accurate than what the actual prices are.
Hotspots in the Klang Valley
Klang Valley which covers Kuala Lumpur and most parts of Selangor is perhaps one of the sought regions when it comes to properties. Below are the few most searched locations among property buyers in 2020 and early 2021.
- Cheras/Pudu – Close enough to the city centre, easily connected via main roads and highways, Cheras has been actively developing in the last few years. New townships have been built, shopping centres and even IKEA built a branch in the Cochrane-Pudu enclave. Even Sunway Group has started expanding its wings here with Sunway Velocity Shopping Centre and an upcoming Sunway Medical Centre.
- Damansara Heights – Here, you will find a lot of high-cost condominiums, bungalows and luxury homes. Damansara Heights is very conveniently located around the Bangsar-Damansara enclave and is home to royalties, politicians and distinguished corporate leaders. It has its own eco-system of posh cafes and fine dining restaurants which is often referred to as the Beverly Hills of Malaysia.
- Shah Alam and Petaling Jaya – Connected mainly via the Federal Highway, Shah Alam is about 30 minutes away from the city centre. Its location is not as convenient as the others but it enjoys being away from the busy towns. What makes Shah Alam such an attractive option for homebuyers is that it is self-sufficient and future developments. The LRT 3 line comes into Shah Alam which is set to be completed in 2023. Not far from Shah Alam, Petaling Jaya remains one of the most sought after addresses. PJ is expected to expand further in the near future as highways are being widened and the LRT 3 project will continue from here too.
- Ampang – Home to a large group of foreign communities, it is also the place where most foreign embassies and high commissions operate. It is often referred to as being one of the posher places in Kuala Lumpur. It is convenient and connected via various highways and main roads (like Jalan Tun Razak and MRR2).