What is happening with the real estate market today?
Because of the downtrend of our Ringgit performance (as vs against the USD) and also the economic inflation that is happening, allot of young people have come to a stage where owning through buying/ purchasing a property is not really much of an option anymore.
Because of that, many who are not from the main cities opt to work and relocate to bigger cities where prospect opportunities are high and jobs are plentiful.
But then, that brings about the issue of cost of living, and many are forced to rent properties. Now, lets take a look at this very informative article on this issue:
Most expensive states to rent in M’sia
March 27, 2014
By Michelle Brohier
For many Malaysians who can’t afford the downpayment on a new home; renting is the only option (unless they have option and are keen to live with their parents til death do them part). We previously covered some of the cheapest places in Malaysia to rent but where is the most expensive?
Selangor
With many thriving cities within Selangor such as Petaling Jaya and Damansara, it’s no wonder the prices of rental here are pretty expensive and they vary in different areas as well. In Ara Damansara, renting a townhouse costs RM11,000 a month which is fully furnished and has 5 bedrooms and 7 bathrooms. A 3-storey terraced house in Selayang is being rented out at RM9,200 a month where it has 7 bedrooms and 5 bathrooms. Another expensive rental area to look out for would be Sungai Buloh where a 2-storey terraced house with 6 bedrooms and 6 bathrooms is being rented out for RM9000 a month.
That’s not to say you can’t find cheaper rentals (in the region of RM2,000) – it’s just that they wouldn’t be in areas such as Petaling Jaya, Damansara or the heart of Kuala Lumpur. Some time back, particular local newspapers ran headlines about how the Klang Valley is still affordable. These figures beg to differ. Or perhaps the definition of ‘affordable’ has changed.
Penang
Batu Ferringhi and even Georgetown can definitely be an expensive place when it comes to rental. On average, you can get a terraced house around these areas for around RM12,000-RM15,000 a month, with various stages of furnishing and with mostly 4-5 bedrooms and bathrooms. There are even other rather expensive areas such as Tanjung Tokong where a partially furnished house cost up to RM9,500 a month, and it comes with 5 bedrooms and 6 bathrooms.
Again, cheaper rentals are possible but not that much more so. Of course, be ready to stay in tiny flats either in ill-repair or overlooking cemeteries.
Johor
It’s possibly a little surprising to see Johor in this list, but there are properties there that are being rented out at RM18,000 a month which is even more than the current listing in Kuala Lumpur! This one is in Jalan Pelita and it’s a 3-storey house with 4 bedrooms and 4 bathrooms. A 2-storey terraced house costs up to RM15,000 a month in Skudai and it actually has 5 bedrooms and 5 bathrooms, with even more land than the other so in the end, the location plays a part when it comes to Johor. There are other areas such as Taman East Ledang where the rental price for a 2-storey terraced house costs between RM11,000-RM13,500.
This could be because of many Singaporeans or Malaysians working in Singapore choosing to live in JB and commute to the island. Singapore property prices are known to be ludicrous so the amounts above are likely a ‘steal’ in comparison.
Kuala Lumpur
While Johor is still pretty expensive, Kuala Lumpur still has the most number of expensive rentals which shouldn’t be sneezed at as well, especially with units such as a 3-storey terraced houses. One 3-storey terraced house in Casaman, Desa ParkCity in Kepong can cost up to RM15,000 a month for a 5 bedroom, 4 bathroom house in a unit that is gated and guarded as well. Another is located in Ampang with a rental price of RM13,000 a month, also with 5 bedrooms and 4 bathrooms.
If you’ve guessed the most expensive states in the right order, then you must be just as aware of how expensive rentals can be. While it’s still possible to find rent in these states that are affordable for flats, landed property will definitely cost a lot more. Again, it’s not impossible to rent but you may find yourself in less ‘attractive’ parts of the city.
source
Because of the downtrend of our Ringgit performance (as vs against the USD) and also the economic inflation that is happening, allot of young people have come to a stage where owning through buying/ purchasing a property is not really much of an option anymore.
Because of that, many who are not from the main cities opt to work and relocate to bigger cities where prospect opportunities are high and jobs are plentiful.
But then, that brings about the issue of cost of living, and many are forced to rent properties. Now, lets take a look at this very informative article on this issue:
Most expensive states to rent in M’sia
March 27, 2014
By Michelle Brohier
For many Malaysians who can’t afford the downpayment on a new home; renting is the only option (unless they have option and are keen to live with their parents til death do them part). We previously covered some of the cheapest places in Malaysia to rent but where is the most expensive?
Selangor
With many thriving cities within Selangor such as Petaling Jaya and Damansara, it’s no wonder the prices of rental here are pretty expensive and they vary in different areas as well. In Ara Damansara, renting a townhouse costs RM11,000 a month which is fully furnished and has 5 bedrooms and 7 bathrooms. A 3-storey terraced house in Selayang is being rented out at RM9,200 a month where it has 7 bedrooms and 5 bathrooms. Another expensive rental area to look out for would be Sungai Buloh where a 2-storey terraced house with 6 bedrooms and 6 bathrooms is being rented out for RM9000 a month.
That’s not to say you can’t find cheaper rentals (in the region of RM2,000) – it’s just that they wouldn’t be in areas such as Petaling Jaya, Damansara or the heart of Kuala Lumpur. Some time back, particular local newspapers ran headlines about how the Klang Valley is still affordable. These figures beg to differ. Or perhaps the definition of ‘affordable’ has changed.
Penang
Batu Ferringhi and even Georgetown can definitely be an expensive place when it comes to rental. On average, you can get a terraced house around these areas for around RM12,000-RM15,000 a month, with various stages of furnishing and with mostly 4-5 bedrooms and bathrooms. There are even other rather expensive areas such as Tanjung Tokong where a partially furnished house cost up to RM9,500 a month, and it comes with 5 bedrooms and 6 bathrooms.
Again, cheaper rentals are possible but not that much more so. Of course, be ready to stay in tiny flats either in ill-repair or overlooking cemeteries.
Johor
It’s possibly a little surprising to see Johor in this list, but there are properties there that are being rented out at RM18,000 a month which is even more than the current listing in Kuala Lumpur! This one is in Jalan Pelita and it’s a 3-storey house with 4 bedrooms and 4 bathrooms. A 2-storey terraced house costs up to RM15,000 a month in Skudai and it actually has 5 bedrooms and 5 bathrooms, with even more land than the other so in the end, the location plays a part when it comes to Johor. There are other areas such as Taman East Ledang where the rental price for a 2-storey terraced house costs between RM11,000-RM13,500.
This could be because of many Singaporeans or Malaysians working in Singapore choosing to live in JB and commute to the island. Singapore property prices are known to be ludicrous so the amounts above are likely a ‘steal’ in comparison.
Kuala Lumpur
While Johor is still pretty expensive, Kuala Lumpur still has the most number of expensive rentals which shouldn’t be sneezed at as well, especially with units such as a 3-storey terraced houses. One 3-storey terraced house in Casaman, Desa ParkCity in Kepong can cost up to RM15,000 a month for a 5 bedroom, 4 bathroom house in a unit that is gated and guarded as well. Another is located in Ampang with a rental price of RM13,000 a month, also with 5 bedrooms and 4 bathrooms.
If you’ve guessed the most expensive states in the right order, then you must be just as aware of how expensive rentals can be. While it’s still possible to find rent in these states that are affordable for flats, landed property will definitely cost a lot more. Again, it’s not impossible to rent but you may find yourself in less ‘attractive’ parts of the city.
source
