Kuala Lumpur is the capital of Malaysia, a country with a melting pot of races and religions consisting of Malays, Chinese, Indians and other ethnic groups – all living peacefully together. In recent times, Malaysia has been on the rise on the international map as an attractive destination to invest in due to its multicultural setting, rapid economic development and improved infrastructure.
If you are planning on investing in real estate in Kuala Lumpur, below are some of the top areas you can look out for.
Another neighbourhood known to attract wealthy Malaysians and expatriates alike is Bangsar – this affluent neighbourhood is a short drive away from the KL city centre and is one of the most sought-after areas in Malaysia to live or invest in as it offers an alternative from the hustle and bustle of the capital.
Bangsar might be the perfect place to raise a family as it has been regarded as a relatively safe and quiet suburb plus with a few daycare centres, preschools and international schools located nearby.
Although it is on the quieter side of town, it still has all the amenities you would need. This neighbourhood has popular hangout spots located along the strip of Jalan Telawi which consists of famous cafes and bars. If that is not what you’re looking for then you can pay a visit to Bangsar Village I and Bangsar Village II shopping centres or drive a short distance to Mid Valley Megamall and The Gardens Mall which is just a stone’s throw away.
According to Savills, single-storey terraced houses in Bangsar which averaged RM375, 000 in 2001, jumped to RM635, 000 in 2010 and RM1.27 million in 2017, recording a capital appreciation of 239%.
Besides that, double-storey terraced houses in Bangsar, which were sold at around RM620, 000 in 2001, saw their average selling price climb past the RM1 million mark in 2010 and reached RM1.65 million in 2017, a price increase of 166%.
2. Kuala Lumpur City Centre (KLCC)
Kuala Lumpur’s City Centre (KLCC) is one of the most popular and desirable neighbourhoods in Malaysia due to its strategic location. Being right in the heart of the capital city of Malaysia and home to the iconic Petronas Twin Towers, many wealthy Malaysians and expatriates are interested in settling down or investing in this prevalent neighbourhood.
There is a long list of activities that you can partake in the city centre area which includes food hunting, sightseeing, recreational and entertaining activities, lastly be able to shop to your heart’s desire. Moreover, this area is seen as the commercial, retail and entertainment hub of the capital city as it offers the capital’s best high-end hotels and three of the most well-known shopping malls in the nation which is Suria KLCC, Pavilion Kuala Lumpur and Berjaya Times Square Shopping Mall.
Additionally, its connectivity factors such as easy access to public transport systems such as the Light Rail Transit (LRT) and Mass Rapid Transit (MRT) enhance its status as a property hotspot.
According to Savills, condominiums in the KLCC area have an average selling price of RM500, 000 in 2001. Subsequently, their transaction prices exceeded RM1 million in 2008 and reached RM1.12 million in 2017, equivalent to a capital appreciation of 123%.
3. Mont Kiara
Mont Kiara is a high-end township based in the North-West outskirts of the city, about a 15-minute drive away from the city centre. This suburb is another example of a popular choice to invest in or settle down among wealthy locals, foreigners and expats.
Mont Kiara is an attractive home option for many expats due to its community, amenities, diversity of eateries and international school options such as the Mont Kiara International School and Garden International School, and Lycee Francois de Kuala Lumpur.
This township has a wide range of bakeries, cafes and also pubs in the clusters of complexes. Complexes within the vicinity include VERVE Shops, Shoplex Mont Kiara and Kiara 163. In addition, there is an open-air bazaar at Plaza Mont Kiara but if that’s not your cup of tea, then you can easily head towards Publika and Hartamas Shopping Centre which is a short distance away.
Apart from shopping complexes, Mont Kiara is one of the few townships that have parks and outdoor recreational activities which makes it a fantastic place for families to enjoy their weekends. One of the parks includes the Bukit Kiara trail which is just 4.5km away from Mont Kiara.
According to Savills, for Mont Kiara, the average transaction price in 2017 was around RM800, 000 compared with RM411, 667 in 2001, thus fetching a capital appreciation of over 94%.
Now that we have listed the top three places you can consider to live and invest in, we hope that you will be able to come to a conclusion and pick the best place based on your preferences.
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