Real Estate Property In Kuala Lumpur
/Kuala Lumpur Real Estate
First Published Date: Aug 2, 2009
A city which has a thoroughly modern look but no sense of disconnection from its history is truly hard to find in the present day. It cannot be denied that although there are some marvellous holiday destinations in Asia as there are elsewhere in the world, there is a certain dearth of individuality and character in a lot of them. This is not an accusation that can be levelled at Kuala Lumpur, which is one of the most impressive cities on the continent and among the most worthwhile holiday destinations in the world. More and more people are visiting for a holiday and finding themselves drawn back – more than a few ending up living there.
There are numerous reasons why you might want to invest in Kuala Lumpur real estate property. One of these reasons is the rarely discussed, almost mythical idea of living in the property you have bought. Of course this may seem dreadfully conventional compared to buying and renting out, or buying and renovating to sell, but then it is important to take into account that it will allow you to live in one of the most captivating cities you’ll ever visit. If indeed you are simply interested in an investment property, the good news is that a well-turned out house in Kuala Lumpur beats anywhere else in Malaysia and most of Asia in general for resale value.
It may be that you just want to rent a place for long-stay holidays or business placements. In the city center and the immediate suburbs, you are likely to find that Kuala Lumpur is somewhat expensive for rental properties – but if the company is paying and you are not the one writing the checks at the end of it all, then you may as well enjoy yourself. By being close to the city center you will have a great deal of shopping and nightlife opportunities close by. If this doesn’t sound like fun then it is a better idea to find a spot further out. The nights are a good deal quieter and the rental properties an incredible saving.
Never just buy the first property you see for sale in Kuala Lumpur. The housing market there has a tendency to surprise you, and bargains can be had if you look hard enough.
It is worth being aware, however, of the Malaysian Government’s law on foreign ownership of real estate properties. These are somewhat long winded, but it will serve you well to know someone “on the ground” in Kuala Lumpur before you go. The government is currently extending visas for an initial period of five years to foreign citizens, renewable at the end of those five years as long as the visitor’s passport is still in order. These visas are multiple-entry, so you can treat Malaysia as a base from which to travel elsewhere. If trying to help get a business off the ground in a Malaysian base, it is a very worthwhile idea – check out “Malaysia My Second Home” on Google for fuller details.
To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Aug 2, 2009.
