While the Malaysian property market remains stuck in neutral, international investors are still exploring luxury real estate opportunities in the country. The upscale condominium market remains attractive as a safe investment option. In prime locations, such as KLCC, investors can enjoy yield returns between three and four percent during the next few years thanks to steady rental demand.
Government regulations allow foreigners to buy and own property with few restrictions beyond the MYR 1 million (USD 256,500) minimum purchase price. The freehold nature of the properties and their prime locations mean investors are willing to buy even as the country’s real estate underperforms.
“I would say that foreigners may still be attracted to prime units around the KLCC area in the optimum region of about MYR 1-RM1.5 million,” former Malaysia Property Incorporated vice president David Shieh explained to the Malay Mail. “Not many countries in the region or around the world allow foreigners to own freehold properties. Secondly, price per square feet for Malaysian properties is still one of the lowest in the region.”
What luxury real estate does MYR 1 million buy in Kuala Lumpur?
Two-bedroom condo at Setia Sky Residences
Setia Sky Residences are a short-drive away from KLCC and condominium units here boast some impressive views. The development is equipped with several amenities including a swimming pool and a fitness centre.
The unit itself comes fully furnished and is on the tenth floor with a balcony facing Titiwangsa Lake. With two bedrooms, three bathrooms and a welcoming kitchen, the space is very attractive to young families.
For investors, the smartly designed condominium combined with a great location makes it ideal for rentals.
High-rise living near KLCC Park
Stonor 3 set a new benchmark for luxury real estate in the always popular KLCC Park area. The property features a unique swimming pool and fitness centre layout that adds a distinct flair to the three-storey common area facilities.
Every condominium contains European kitchen appliances, Japanese sanitary ware and Burmese hardwood flooring adding elegance to the space. The two-bedroom, two-bathroom unit is priced at MYR 1.36 million (USD 348,700). While the property does cost a little more than the MYR 1 million minimum overseas buyer purchase price, Stonor 3’s close proximity to international schools and hospitals will likely result in solid demand from renters.