Serviced Apartments in Malaysia
Finding accommodation in Malaysia is relatively simple as there is not really a shortage of accommodation for foreigners. Many people who come to work alone in Malaysia enjoy sharing accommodation with other expatriates. However, if you are moving with your family, it is better to take the time to determine where you want to live and in what type of accommodation, since rental contracts are generally for two years and therefore represent a long-term commitment.
Lake City KL North is spread across an area of 80-acre is a joint venture of the company with Perdana Park City SDN Bhd. 1003 condominium units along with 23 shop plots are located in this area which comprises of 43-storey high blocks. Named Aradia, it will be spread on 4.38 acre site and the estimated value of development is around RM700 million gross. The project will likely to be ready by 2023. The sizes of condominium units will lie within the range of 567 sf. – 1,687 sf. RM700 psf is the average selling price. All the Aradia units would comprise of fully-fitted bathrooms and kitchens with air-conditioners installed in all the rooms. Smart home features would also form part of these units. Two car park bays will be offered with units of 1000 sq.ft above. The show gallery of the project has been opened to public.
If you are on a budget, you can find some of the most modern and comfortable accommodation in the world at an affordable price, if you compare to other big cities. As the country is developing rapidly, there is no shortage of infrastructure and the new buildings are designed with all the desired equipment. Many expatriates are pleasantly surprised at the standard of living in Malaysia and, whether you are alone or with your family, you can be sure to find accommodation that meets your needs.
Buying property in Malaysia
Along with Singapore and Hong Kong, Malaysia is one of three countries in Asia where foreigners can buy freehold real estate. In fact, some expatriates consider this opportunity because this option is more affordable than in their country of origin and is an opportunity to make a good investment. Anyone can become a homeowner in Malaysia as long as they have the financial means. On the other hand, if you are part of the MM2H program or you have a business in Labuan, you can obtain a mortgage. If so, the bank will assess the value of the property you wish to purchase. Banks are generally willing to offer a home loan to foreigners based on this assessment, but they will often offer a loan between 75% and 90% of the total value of the property. House prices in popular areas in Malaysia, such as Kuala Lumpur , Penang and Johor Bahru , range from 300,000 RM to over 2 million RM. For around 600,000 RM, you can probably buy a beautiful condo near downtown Kuala Lumpur, while a two-story suburban lodge will cost around 1 million RM. The prices are significantly lower if you live in less popular areas.
Renting a property in Malaysia
If you do not have the means or the desire to buy your own property in Malaysia , the best solution is to rent an apartment, a condominium or land property, whether it be a lodge, a villa, a community house, a detached house, a semi-detached or semi-detached house. Most expatriates choose to rent a condominium, which is a large apartment with various additional amenities, such as a swimming pool, a garden, a barbecue, a gym, a sports field, and a nice reception with security guards. Some of the newer condominiums even offer facilities such as an adventure trail, a rooftop, an aquatic maze, tree houses and a banquet hall.
It is quite common in Malaysia to have to pay a minimum of two months’ rent in advance, as well as half a rent to cover other charges (water, gas, electricity’¦). Contracts are usually one year minimum, but tenants often have to sign a two-year contract. However, do not be afraid to negotiate the terms of your agreement with the owners, as many owners adapt to different requirements, durations and budgets. Leases are generally fairly standard and follow a general pattern, but this is an important commitment and you may want to adjust some conditions. Beyond the rental fees, you can ask to add the following conditions: parking options, changes to the property,
It is difficult to find short term rentals in Malaysia, and many condominiums and buildings are becoming more stringent when it comes to Air BnB and other short term rentals. Some condominiums even refuse access to short-term visitors or the option of subletting, and access cards are often required at the entrance of buildings and common areas to prove that you are a real tenant. As a result, it will be easier to find short-term accommodation in an independent and private residence, or to extend your stay at the hotel.