According to PropertyGuru’s latest Malaysia Property Market Index (MPMI) report, there has been a continual downward trend of property asking prices in 4 key areas: Kuala Lumpur, Selangor, Penang and Johor, with 1.34% drop in the third quarter of 2020 (Q3 2020).
Although there are various factors that determine property prices within the Malaysian property market, it’s not all doom and gloom! There is data to suggest that property prices are still holding strong in some areas.
We took a deeper look into these 4 main states in Malaysia (KL, Selangor, Penang and Johor), and here’s what we discovered:
Kuala Lumpur
1. KLCC (Median asking price per square feet [psf] is RM836)
Whether you’re a foodie, into shopping, or a cultural and entertainment buff, this city has something to satisfy every whim and demand.
A major perk of living in the city centre is the excellent connectivity it provides – the transportation and local infrastructures is intended to provide easy accessibility and convenience in, out and around the city.
2. Bangsar (Median asking price psf is RM805)
Bangsar has now matured into a neighbourhood with quaint cafes, unique bars and an array of restaurants. This affluent suburb is one of the most sought-after areas to live by locals and expats.
Its proximity to the city centre is a major plus, and is further enhanced by its excellent connectivity. The multiple highways and roads in and out of Bangsar provides ideal accessibility to other towns and cities.
3. Ampang Hilir (Median asking price psf is RM756)
This city district is situated in the eastern part of KL. This once larger district was split between KL and Selangor.
Its location along Jalan Ampang gives Ampang Hilir unmatched accessibility to all major roads and highways, while its proximity to KLCC provides easy access to transportations and other local infrastructures.
4. Bukit Jalil (Median asking price psf is RM500)
According to a recent article, Bukit Jalil has become the fastest growing property value in Kuala Lumpur.
Bukit Jalil has seen the development of 3 light rail transit (LRT) stops and 4 key highways that service the township that provides easy access to key other cities and upcoming development projects.
Aside from the excellent infrastructure, Bukit Jalil is also home to several educational institutions.
5. Cheras (Median asking price psf is RM420)
Like Bukit Jalil, Cheras ranks high on the liveability metre and is popular for home purchasers.
The major gentrification of Cheras has seen improvements in accessibility as well as sprawling and affordable properties.
There are 11 MRT stops within Cheras alone! This not only provides easy access to all major towns and cities; the rail line also connects to major malls and attractions around the Klang Valley.
Selangor
1. Damansara (Median asking price psf is RM504)
This thriving and expansive suburb of PJ has over 24 townships.
Dubbed the ‘golden triangle’, the commercial facet of Damansara houses several multinational companies. Due to this strategic positioning, it also boasts various shopping centres and outlets.
In terms of connectivity, it remains unmatched as Damansara is accessible via multiple highways that links it to major towns and the city centre.
2. Petaling Jaya (Median asking price psf is RM492)
Due to its proximity to KL, PJ remains a favourable choice among city dwellers. Originally developed as a satellite township for KL, today, PJ is a large sprawling city.
Home to numerous notable shopping malls, the city continually witnesses active property development.
As a result, PJ has seen rapid residential development, and has multiple access points that connect it to neighbouring cities, towns, and states.
3. Subang Jaya (Median asking price psf is RM461)
Having recently achieved city status, Subang Jaya had worked its way from a quiet town to a bustling and thriving nook in Selangor.
Known mostly as an educational hub, Subang Jaya has recently also been recognised for its healthcare facilities.
With the development of multiple highways as well as the completion of the MRT station, Subang Jaya has become much more accessible.
4. Ampang Jaya (Median asking price psf is RM395)
This Selangor side of Ampang is straddled between Hulu Langat and Gombak. Like most places in the city, Ampang is home to multiple malls and smaller shopping complexes.
As for animal and nature lovers, the National Zoo of Malaysia remains one of the best attractions in Ampang. And getting here is easy because of its multiple highways and roads.
5. Shah Alam (Median asking price psf is RM371)
Did you know Shah Alam is renowned for its roundabouts? It consists of 18 roundabouts that connect the major roads within each section of the city.
Shah Alam is also famous for its manufacturing sector with the presence of some major plants located within its industrial area.
In addition, Shah Alam is also home to a few higher-education institutions.
Penang
1. Georgetown (Median asking price psf is RM630)
Whether you’re a history buff on a heritage trail, eager to photograph street art, a massive foodie or just want to enjoy the sun and sand, Georgetown has you covered.
In addition, the regular improvements to their roads have reduced traffic congestions and insured better connectivity within the town.
2. Bayan Lepas (Median asking price psf is RM475)
Bayan Lepas is steeped in history and feels like a more serious, grown-up town. It has a strong manufacturing sector (electronics and engineering).
And with the inception of Bayan Lepas Free Industrial Zone, it has attracted major multinational firms.
This town is conveniently connected to the Penang mainland via the Second Penang Bridge, which ensures easy access in and out the island.
3. Barat Daya (Median asking price psf is RM335)
Not so much a town but rather a district, Barat Daya, also known as the Southwest Penang Island District, consists of 22 townships.
Covering a large area of the island, this district also consists of major towns such as Balik Pulau and Bayan Lepas in its jurisdiction.
4.
Butterworth was once used as a transportation hub. And in more recent years, its economy is driven largely by maritime trade.
In addition, the town is also home to Mak Mandin Industrial Estate, the heart of Butterworth’s manufacturing sector.
With the Butterworth railway station located along the Malayan Railway west coast route, it opens up access to major cities in the country.
5. Bukit Mertajam (Median asking price psf is RM294)
Although this town is constantly overlooked over by the more popular spots on the island, Bukit Mertajam, is a laid-back town. It’s perfect for families, and to just relax and de-stress.
Set right across the Penang bridge, Bukit Mertajam provides easy connectivity between the island and the mainland.
Johor
1. Iskandar Puteri (Median asking price psf is RM386)
A former fishing village, this city has been earmarked as the centre for investment, finance, and business endeavours.
Iskandar Puteri is the second-largest city in Johor. This self-contained city includes various lucrative developments, namely an integrated waterfront development, a healthpark, education hub, tourism, and leisure attractions.
The city also offers comprehensive connections via several major highways, rail services and even ferries!
2. Johor Bahru (Median asking price psf is RM343)
Steeped in history, Johor Bahru is the fastest growing city in Malaysia, just behind Kuala Lumpur.
Its close proximity to Singapore benefits its economy immensely. And with its up-to-date infrastructures, Johor Bahru finds itself extremely well connected locally, nationally and across the border into Singapore.
3. Kulai (Median asking price psf is RM260)
Kulai is surrounded by numerous rubber and oil palm estates, and till this day remains one of the main producers of palm oil in the country.
As it falls within the purview of the Iskandar Development Region (IDR), Kulai will undergo the comprehensive development plan. This will ensure holistic and sustainable economic growth within the region.
4. Kota Tinggi (Median asking price psf is RM250)
Kota Tinggi is an important historical town as the Sultanate of Johor was first established here.
Aside from the many historical sites located around the town, the Kota Tinggi Waterfalls is also famous among locals and tourists. Located along the trunk road, it easily connects Kota Tinggi to the rest of Johor and other states.
5. Mersing (Median asking price psf is RM115)
This small but remarkable town is well serviced by a wide range of eateries, but more importantly its beaches!
Mersing is used as an interchange point to access the beautiful nearby island, namely Tioman and Rawa Island.
However, Mersing itself has a lot to offer in terms of entertainment and leisure. And more interestingly its galore of local food.
Location, Location, Location!
So, what is the one major take away we would like you to remember from this? Location, location, location!
Choosing the right area is one of the main factors of knowing how to grow your wealth through property investment.
When deciding to purchase a property for the purpose of investment, it’s important to be aware of the areas in demand.
And from the extensive research and list that we had presented above, it clearly indicates that despite COVID-19 and lockdown, there’s still a growing demand for property investment throughout the country.
This would not only explain why sellers aren’t willing to lower prices much (if at all). The strong holding power in these areas also means that investors would have the confidence that they are advancing their money into areas with high ROI.
Want to know more about the latest trends and insights on the Malaysian property market? Check out the detailed findings from our Malaysia Property Market Index Q4 2020 Online Report!
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