Anybody bought in KL

[KL props]

Looking for feedback/experiences on purchasing property in malaysia.

Looking for 2nd/Holiday home/retirement home.

Anybody bought an apartment in KL ?  How much did you pay and what did your money get you ?. How much cheaper than sg is it ?

is it better to get a landed prop since they are cheaper ?

Any agency recommendations etc.?

How do you see prices dropping up there - as sharply as they are here ?

Any info/tips are greatly welcomed.

[Malaysian Expat.]

I don't think I am an expert as KL is not my hometown but as a Malaysian, i am doing my bit to help foreign investment in my home country.

If it is for a holiday home, i think you should consider an apartment or condo which has better security features. If you are thinking landed property, buy one in a gated community.

Try to do some researches on the developers if you are buying incomplete units.

For apartment, there are plenty around KLCC. If you want good but cheaper properties, you can consider Mount Kiara /Damansara Heights areas (can get one good unit easily for an equivalent HDB flat here).

There are 'bubbles' as well (especially around KLCC with lot of units coming on to the market), but not to the extent as Singapore. But then, when the market turns around, the capital gain may not be as much either.

Personally, I will look around now, but won't commit until 6-12 months later.

[Blaze]

Private property is a safe bet in Malaysia. After all, they have Casino and F1 so prices have to increase just like Singapore 

[Kubes.SG]

And Malaysia does not have a giant ferris wheel that was turning the wrong way, and that has already broken down three times thus scaring off potential tourists who would have bought prime property once they discovered Singapore.

[KL props]

There is no restriction on foreign ownership either it seems.

Anyone else bought in KL ?   Are the prices expected to crash there do you think ?

[Ninja]

Have you looked in Penang perhaps? I invested there or the long term and frankly, couldn't be happier.

As for prices crashing, your guess is as good as anyone's. But if you're cashed up and doing this for the long-term and not churning the property for a quick kill, then you shouldn't go wrong.

KL is way too congested and smoggy for me. I like the gentler pace in Penang... besides the food is way better and cheaper up there. 

[i would love to...]

...buy an apartment in malaysia at some point in time but was told that maintenance of condominium common areas may be a problem because some owners don't pay maintenance fees and nothing can be done about it. is is true? thanks for your input.

[Ninja]

Buy at the highest end you can afford. Do your own research. Don't believe every negative thing you hear and read from people who haven't invested in Malaysia. It's not all bad... but do your due diligence.

[boo hoo]

You must love traffic jams to buy KLCC condos. Note that most locals prefer not to stay at KLCC even if they have the money.

[KL props]

What are the good areas to buy into, in KL with good transport links to KLCC and close to shops and amenities,- not too noisy..? 

Not in this for capital gain.  Buying to keep long term also dont want to pay through the nose just because I am an expat.

[Dr. Phil]

Have you looked in Penang perhaps? I invested there or the long term and frankly, couldn't be happier.

As for prices crashing, your guess is as good as anyone's. But if you're cashed up and doing this for the long-term and not churning the property for a quick kill, then you shouldn't go wrong.

KL is way too congested and smoggy for me. I like the gentler pace in Penang... besides the food is way better and cheaper up there. 

Ninja, I heard Penang is way over-priced.

I understand you have an apartment to off-load in Penang? 

[KL props]

Sorry , not interested in Penang.  Only KL props.

[Effort]

What are the good areas to buy into, in KL with good transport links to KLCC and close to shops and amenities,- not too noisy..? 

That's where everybody else lives.

Some areas of and around KL just get busier and busier. Subang Jaya is popular as is PJ, Mutiara Damansara, Tropicana and now even around Kota Damansara. I was around that area for nearly 5-yrs staying in the same rented apartment.

I moved in just after it was completed and was the same size as the place i have now in SG, but 1/4 the price. I liked it but traffic sucks. I was in the fortunate position to come and go from my work whatever time i wanted so generally tried to miss the most of it but one night, during a storm, it did take me 2.5hrs to get the 13kms home.

You have to be careful of the building quality but given the prices compared to SG, i think they are more fairly priced.

[dunbuy]

I wouldnt buy up there.

Crime is high and out of control there are illegals all over the place and if you are white you will stand a high chance of attack.

Its nothing like singapore.  Its cheap for a good reason.  Used to be a good place years ago, not any more.  Singapore is the only decent place to live in asia. Save your money, you will regret buying in malaysia, far too dangerous.

[bought in KL]

We looked around quite a bit before buying - KLCC area, Ampang,Bangsar, Mont Kiara and PJ. In the end, bought a unit in a condo in Bangsar  which is under construction. Price was RM$1.2M for a 199 sqm flat. 
If you do not intend to get a car, then KLCC area is convenient. But traffic is horrendous if you need to get in or out of KL. Asking price can be upto  RM$1000 psf  or more depending on the development  and this area is popular with foreigners for investment or rental. Landed properties on their own are not as popular for security reasons. However, there are gated developments which offer security and patrol services within the perimeters of the development.
Market here currently is also slack and prices are likely to drop, too. Get a copy of the Star newspaper as it has many ads in its property sales section. Buy from a quality developer. There are a few listed on the Bursa which have been around for a long time.