Kuala Lumpur is the capital of Malaysia, a country with religious diversity including of Malays, Chinese, Indians and other ethnic groups – bring greater peace and harmony (Malaysia ranked 20th in the world’s most peaceful country based on the 2020 Global Security Index (GPI) report. In recent times, Malaysia has been on the rise on the international map as an attractive destination and the best place to invest in due to its strategic location, rich culture, rapid economic development, lush green tropics, 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.
Bangsar
Bangsar is known to attract wealthy Malaysians and expatriates – this affluent location just 7km away from the KLCC and is one of the most sought-after addresses in Malaysia to live or invest in as it offers a peaceful environment and surrounding to the residents.
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.
Bangsar has all the amenities you would need include fine dines, schools, banks, restaurants, cafes, bars, medical centres, shopping malls and more. 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 10 minutes away. The Bangsar LRT station is an elevated station located above Jalan Bangsar and serve many bus routes, especially those between Kuala Lumpur & Petaling Jaya.
According to Savills, single-storey terraced houses in Bangsar which averaged RM 375,000 in 2001, increased to RM 635,000 in 2010 and RM 1.27 Million in 2017.
Moreover, in Bangsar, double-storey terraced houses were sold at around RM 620,000 in 2001, saw their average selling price increased to RM1 million in 2010 and reached RM1.65 million in 2017, total of 166% increased.
Kuala Lumpur City Centre (KLCC)
Kuala Lumpur’s City Centre (KLCC) is one of the most popular and desirable address in Malaysia due to its strategic location and tourists gathered place. Located in the heart of the capital city of Malaysia and home to the iconic Petronas Twin Towers, many rich Malaysians and expatriates are interested in investing in this premium neighbourhood.
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 residential property, as well as and popular shopping malls such as 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, in 2002, condominiums in the KLCC area have an average selling price of RM 500,000. Subsequently, in 2008, their transaction prices exceeded RM1 million and reached RM1.12 million in 2017.
Mont Kiara
Mont Kiara located North-West outskirts of the city, is a high-end township and 15-minute drive away from the city centre. Similar with Bangsar, this area is a popular choice among wealthy locals, foreigners and expats to invest in or settle down.
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 area has a wide range of restaurants, cafes, fitness centres, and also pubs in the clusters of complexes. Complexes within the vicinity include VERVE Shops, Shoplex Mont Kiara and Kiara 163.
According to Savills, for Mont Kiara, the average transaction price in 2017 was around RM 800,000 compared with RM 411,667 in 2001.
Now that we have listed the top three places you can consider to invest in, we hope that you will be able to pick the best place based on your preferences.
Are you interested to invest in a property in the capital city but can’t make up your mind on where to invest? Click the button below to chat with us.
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