Types of apartments

a) Low-Cost Housing

It may be low-rise, five-story walk-up, or high-rise, with just the most basic amenities such as an open parking lot and garbage collection.

The state government controls and regulates the selling price, and only those with a personal or combined income of less than a specific amount are permitted to purchase.

State governments generally create them, but most private developers are also required to set aside a portion of their development budgets to build these types of properties by the standards of the local town planning department.

This property may provide a high rental return but has a poor capital appreciation.

c) Low-Cost Apartments

This property is in great demand, particularly in the city centre and industrial regions.

Their prices vary from RM65,000 to RM150,000, with sizes ranging from 700 to 1,000 square feet.

They will only have minimum amenities, such as a gated and supervised security system.

c) Condominium (Middle/High-End)

Medium-class condominiums with 1,000 square feet or fewer typically cost less than RM300,000 per unit. They usually feature security guards, CCTV, a gymnasium, a swimming pool, and one designated parking space.

The average price of a high-end condo is more than RM400,000. Restaurants, cafés, salons, convenience shops, tennis and squash courts, well-decorated entrances and complexes, nurseries, kindergartens, two reserved covered car parks, swimming pools, saunas, Jacuzzis, and a modern security system will be available. They provide more privacy and have a lower density than middle-class condominiums.

Because land availability is limited and costly, high-end condominiums are often developed in near-prime locations such as KLCC, Country Heights, Sabak Bernam, and others. Moreover, because of contemporary lifestyle, prestige, security, privacy, and convenience, they are favourably appreciated by the upper-income group.

Tips:

Buying high-end condominiums for investment requires extreme caution because:

Several new options are available, and most tenants choose to rent a unique apartment with more contemporary amenities.

The tenant pool is restricted since only expatriates can pay such exorbitant rents. They usually don’t remain long, and their demand might quickly decline or evaporate.

The government’s current economic strategy, which focuses on the IT and services industries, has significantly decreased the number of expatriates moving to Malaysia since these sectors need fewer ex-pats than the manufacturing sector.

d) Serviced Suites/Apartments

This is another contemporary construction trend where housekeeping is accessible for apartments or suites and is often managed by an established service apartments/hotel chain. The size ranges from 400 to 1,500 square feet, ranging from RM500 to RM850 per square foot.

It is usually wholly equipped and includes all built-ins such as air conditioners, fans, light fixtures, water heaters, kitchen cabinetry, etc. As a result, buyers may nearly move in with little more than their baggage.

They are classified as commercial properties since the land on which they sit has a commercial title. As a result, they are not managed by the Ministry of Housing and Local Government and are not subject to the Housing Development Act.