Locations such as Bangsar, Damasara Heights, and Kenny Hills are the most sought-after addresses within the Klang Valley
Malaysia was able to secure strategic investments and form trade relationships thanks to record-breaking approved investments in 2021. The New Straits Times reported that because of this, Malaysia is in a good place to bring the economy to greater heights.
Putra Business School associate professor Dr Ahmed Razman Abdul Latif shared that the opening of the international borders would accelerate foreign direct investment. An example of this would be the impending increase in investment in the real estate sector.
In Malaysia, locations such as Bangsar, Damasara Heights, and Kenny Hills are the most sought-after addresses within the Klang Valley, as these are considered prime real estate, according to The Star.
Over the years, however, many homes within the area have been put up for sale or rent due to various reasons. Rahim & Co International Sdn Bhd real estate agency chief executive officer Siva Shanker noted several of them, including expats returning to their home countries since the 2008 global financial crisis; younger buyers preferring smaller, cosier spaces over huge bungalows; and children from affluent families studying and living abroad, to which Siva adds, “In the end, only the parents are left staying there. As they get older, maintaining a large property can be quite burdensome, so they move out to a smaller unit and end up either selling or renting out their large bungalows.”
Reapfield Properties chief executive officer Jonathan Lee emphasised that prime real estate will always be in demand, saying, “That’s because it’s where everyone wants to be. But the trend of moving to gated and guarded developments has already been happening even before COVID.”
“That’s why you see in the surrounding areas, there are some luxury condominiums that are always coming up. These are [specially] meant for senior citizens that want to downsize into a unit that’s easier to maintain,” he added.
The Property Report editors wrote this article. For more information, email: [email protected].
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