Real Estate in Kuala Lumpur, Malaysia
Last updated on Nov 10, 2024
Summary: The most desirable neighborhoods in Kuala Lumpur, Malaysia are Bangsar, Mont Kiara, Damansara Heights, and Ampang. The average cost to buy a nice 2 bedroom home in Kuala Lumpur is around $400,000 USD, while a nice 3 bedroom home can cost around $500,000 USD. These properties typically include modern amenities such as air conditioning, swimming pools, and security systems. Foreigners are allowed to purchase property in Kuala Lumpur, however, they are subject to certain restrictions. For example, foreigners are not allowed to purchase property in certain areas, such as Malay Reserve Land. When searching for a home to buy in Kuala Lumpur, expats should consider their budget, desired location, and amenities. They should also research the local real estate market and consult with a real estate agent to ensure they are making the best decision.
How do I find a place to live in Kuala Lumpur?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Kuala Lumpur is a vibrant and exciting city with plenty of housing options. One of the best ways to find a place to live in Kuala Lumpur is to use online resources such as property websites, classifieds, and real estate agents. These resources can help you find a variety of housing options, from apartments and condos to houses and villas. Additionally, you can also look for housing options in the local newspapers and magazines. Additionally, you can also ask friends and family who live in Kuala Lumpur for recommendations. Finally, you can also visit the city and explore the different neighborhoods to find a place that suits your needs," said one person in Kuala Lumpur.
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What is a typical expat home or apartment like in Kuala Lumpur?
"We live in a 4 bedroom standalone house [bungalow]. Most expats take either a house or apartment, depending on whether or not they have children, or major security concerns. Apartments have better security and amenities, but are typically smaller. Many houses have pools," remarked one foreigner who made the move to Kuala Lumpur.
"Expat homes and apartments in Kuala Lumpur are typically modern and luxurious, with high-end amenities such as swimming pools, gyms, and saunas. Many expat homes and apartments also feature spacious balconies with stunning views of the city skyline. Expats can also expect to find modern kitchens with stainless steel appliances, as well as air conditioning and other modern conveniences. Security is also a priority in Kuala Lumpur, with many expat homes and apartments featuring 24-hour security guards and CCTV surveillance," explained one person living in Kuala Lumpur, Malaysia.
What is the average cost of housing in Kuala Lumpur?
If you are thinking about moving to Kuala Lumpur, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Housing rental charges are a lot higher here than in my native New Zealand. Typical monthly rental for a house is between 8000 and 12000 ringgit - say 2500 to 4000 USD. Apartments are cheaper, maybe 1000 to 2500 USD per month," said one person in Kuala Lumpur.
"The cost of housing in Kuala Lumpur can vary greatly depending on the area and type of accommodation. Generally, the average cost of renting a one-bedroom apartment in the city centre is around RM2,000 per month, while a three-bedroom apartment can cost up to RM4,000 per month. Prices for buying property in Kuala Lumpur can range from RM500,000 to RM2 million, depending on the size and location," remarked one foreigner who made the move to Kuala Lumpur.
Should I buy or rent a home in Kuala Lumpur?
If you have not spent a lot of time in Kuala Lumpur, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Kuala Lumpur can be a great investment, as the city is a vibrant and growing metropolis. However, it is important to consider the cost of living in the city, as well as the availability of housing. Renting a home in Kuala Lumpur can be a great option for those who are not ready to commit to buying a home, as it allows for more flexibility and can be more affordable in the short-term. Ultimately, the decision to buy or rent a home in Kuala Lumpur should be based on individual needs and preferences," explained one person living in Kuala Lumpur, Malaysia.
What do I need to know when buying property in Kuala Lumpur?
When we asked expats what advice they would give a foreigner before buying a property in Kuala Lumpur, they said:
"1. It is important to research the area you are looking to buy in, as different areas may have different regulations and taxes. 2. It is important to understand the legal process of buying property in Malaysia, including the requirements for foreign buyers. 3. It is important to understand the different types of property available in Kuala Lumpur, such as landed property, condominiums, and apartments. 4. It is important to understand the different types of financing available, such as bank loans, mortgages, and other financing options. 5. It is important to understand the different taxes and fees associated with buying property in Kuala Lumpur, such as stamp duty, real property gains tax, and other taxes. 6. It is important to understand the different types of insurance available, such as fire insurance, public liability insurance, and other types of insurance. 7. It is important to understand the different types of maintenance and repair services available, such as plumbing, electrical, and other services. 8. It is important to understand the different types of rental agreements available, such as long-term leases, short-term leases, and other rental agreements. 9. It is important to understand the different types of property management services available, such as property management companies, property agents, and other services. 10. It is important to understand the different types of legal services available, such as conveyancing, tenancy agreements, and other legal services," said one expat in Kuala Lumpur.
Are foreigners allowed to own property in Kuala Lumpur?
When we asked expats what advice they would give a foreigner before buying a property in Kuala Lumpur, they said...
"Yes, foreigners are allowed to own property in Kuala Lumpur. However, there are certain restrictions and requirements that must be met. Foreigners can purchase residential properties, such as condominiums, apartments, and landed properties, as long as the minimum purchase price is above a certain threshold set by the state government. This threshold varies depending on the location of the property. Additionally, foreigners are required to obtain approval from the relevant state authorities before purchasing a property. It is also important to note that foreigners are not allowed to purchase properties designated as Malay Reserved Land or properties allocated to Bumiputera, which are reserved for Malaysian citizens of indigenous descent," said one in Kuala Lumpur.
What appliances are typically included in a rental?
We asked foreigners in Kuala Lumpur what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Kuala Lumpur, rental properties typically include a refrigerator, stove, oven, washing machine, and air conditioning unit. Additionally, some properties may also include a microwave, dishwasher, and water heater," explained one person living in Kuala Lumpur, Malaysia.
Additional Information about Searching for a Home in Kuala Lumpur:
We asked foreigners in Kuala Lumpur what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Kuala Lumpur often begin by browsing online property portals and websites that cater specifically to expatriate housing needs. They may also join expat forums and social media groups to seek advice and recommendations from fellow expatriates who have experience living in the city. Another common approach is to engage the services of a local real estate agent who is familiar with the needs of expats and can help them navigate the local property market. These agents can provide valuable insights into the best neighborhoods, rental prices, and available amenities. Expats may also consider visiting popular expat neighborhoods in Kuala Lumpur, such as Mont Kiara, Bangsar, and Ampang, to get a feel for the area and explore available housing options in person. This can help them better understand the local lifestyle and make an informed decision about where to live. Additionally, networking with other expats and locals can be a valuable resource for finding potential rental properties that may not be listed on public websites or advertised through real estate agents. Word-of-mouth recommendations can often lead to great housing options that may not be widely known. Lastly, expats should familiarize themselves with local rental laws and regulations, as well as the standard lease terms and conditions in Malaysia. This will help ensure a smooth and hassle-free rental process when they find their ideal home in Kuala Lumpur," said one expat in Kuala Lumpur.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Additional Information:
- Expat Guide to Kuala Lumpur
- Public Transportation in Kuala Lumpur
- Best Markets in Kuala Lumpur
- Retire in Kuala Lumpur Guide
- 7 Tips for Living in Kuala Lumpur
- Pros & Cons of Living in Kuala Lumpur
- Tips for Expats Driving in Kuala Lumpur
- Cost of Living in Kuala Lumpur
- Health Care in Kuala Lumpur
- The Essential Guide to Kuala Lumpur
- Healthcare & Health Insurance in Malaysia
- Best Places to Live in Malaysia
- Pros & Cons of Living in Malaysia
- Pros and Cons of Living in Malaysia
- Pros and Cons of Living in Malaysia 2024
- 2024 Guide to Moving to Malaysia