In the coming years, Malaysia is expected to see an increase in the luxury condominium and serviced residence markets. With an increasing number of people looking for more affordable housing options and, ironically, a growing demand for luxurious lifestyles, high-end high rise residential properties are becoming increasingly popular in the country.
Real estate developers are taking advantage of this trend by offering more luxurious and modern strata housing options that cater to different lifestyles and budgets, such as high-density condos and luxurious-but-small units meant for single occupants, making it easier for people to enjoy a high-end lifestyle without breaking the bank (sort of).
The Malaysian property market is in a state of flux, with luxury condominiums and serviced residences becoming increasingly unaffordable and overhang units piling up. This has left many property investors wondering what the future holds for luxury condominiums in Malaysia. While speculation abounds, it’s clear that the future of this sector will be heavily influenced by how Malaysia’s economy fares in the coming years.
Luxury condominiums, or serviced residences as they are often referred to in the local market, are increasingly unaffordable for the majority of Malaysians. However, despite this sentiment being pervasive among local property buyers, luxury condominiums will still continue to be attractive investments for those looking for top-tier amenities at affordable prices as long as Malaysia’s economy is healthy and the country’s stock market remains stable.
One factor that has been fueling the growth of the luxury market in Malaysia is the rise in global demand from overseas investors for luxury property in Malaysia. With Covid restrictions mostly lifted, this has also been boosting an increase in tourist arrivals to Malaysia, contributing to a boost in sales for luxury hotels and resorts, as well as for commercial spaces such as shopping malls and entertainment facilities. These investors are generally wealthy foreigners looking to purchase a property for retirement, child’s education, medical tourism, or simply to diversify their investments. In addition, Malaysia’s affordability, political stability, weather, culture, cuisine, and multilingual locals make it an attractive destination for them.
So, yes, if you’re interested in investing in luxury condominiums in Malaysia, now is certainly an interesting time to do so!
