As Malaysia’s financial centre and commercial hub, Greater Kuala Lumpur (GKL) is somewhat of an undiscovered gem compared to other major cities in Asia. Property investment consultant Dato Sri Gavin Tee lists down 10 reasons why GKL should be on every investor’s radar.
1. GKL has the fastest population growth among all the states in Malaysia.
Malaysia’s population is currently at 30,768,200 million out of which 23% (7 million) of this total population currently resides in GKL. Due to the high migration rate and urbanisation (contributed by the abundance of job opportunities and well-integrated public transportation system), this figure is projected to grow to 10 million by 2020. Malaysia is also the only country among the developed and developing countries in Asia with a projected increase of working-age population in 2050—it is safe to say that there is a strong future demand for housing in the years to come.
2. It is the greatest investment opportunity as GKL is going to experience the greatest changes in real estate market in 2018.
The continuing market slowdown will see an upturn sometime in 2018 due to the natural cycle of the market. As demand for property slumps, it will result in less supply in the market. But population and job growth will start driving demand, not to mention, demand from foreigners.
3. GKL, as the capital of the country is the political and financial centre thus it will remain as the leading economic engine.