Advertisements

Buying Ipoh Property for retirement?

My colleague asked me just a few days ago, ‘Should I buy Ipoh property’ today? I was thinking Ipoh might be a good place to retire since KL properties are becoming so expensive. Penang is even higher priced since it is just an island.’  I told her if she really like to retire in Ipoh, she may want to buy today because prices would continue to increase. Despite the fact that Ipoh is a secondary property market when compared to KL / Penang, if the prices in KL / Penang continue to increase, do you expect Ipoh property prices to be exactly the same without any changes? Be reminded that Ipoh is only 148km from Penang and 189km from KL. Think objectively, this is not a city in the middle of nowhere. This is a city which is easily accessible by both places. It means if you stay in Ipoh, it is possible to do a day trip to KL / Penang; best of both worlds!

Secondly, while Ipoh city itself is already 643km2, majority of everyone wants to stay in areas where majority of the people love to stay. Thus, the prices in areas such as Tiger Lane, Canning Garden, Ipoh Garden South are rising a lot. Of course, if you intend to buy in places where Ipohans shun, then prices would be cheap, today. You can still buy a terrace double storey house in Bercham for less than RM300,000. Log on to www.propertyguru.com.my, search under Ipoh and see for yourself. My parent’s semi-detached single storey house which they bought for RM85,000 many years ago is now worth no less than RM350,000. Conservatively, price increase of just 5% per year meant that the price would double in less than 15 years. If it is for retirement planning, I think buying now is certainly better in order to hedge against the continuous increase.

Thirdly, Ipoh would always be in the middle of Penang and KL. This means even if it continues to increase in prices for both cost of living and property, it will always be cheaper than the two cities. This makes it always a great choice. When you add in the huge diversity of good food, tertiary institutions, availability of private hospitals, much lesser jams, much wider roads, lower crime rates and of course, friendly Ipohans, the choice is clear. Ipoh is a clear winner.

Think about it. Drive around, eat good food and stroll through all the heritage areas and take great pictures. I think Ipoh has the necessary ingredients for a good retirement.

written on 30 Jan 2014

Next suggested article: Single storey semi-detached for RM500K in Ipoh?

Or read more on Ipoh Property Related

Advertisements

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

Related Posts

Retired and turbulence in the market arrives…?

If I follow the convention, I need to work another 15 years before retiring. 56 years old. Hopefully, I can keep working in something I like for far longer than 15 years though after retiring, I hope to be doing more travelling instead. Should we worry about retirement when we retire or now? Answer is […]

Read More

The elderly, that property and AirBnB for more money

It’s not an easy task to help the elderly. This is especially when they retire and no longer have a fixed income and has to rely on their savings or even their EPF. In fact one advice for retirement is NOT to retire so early! Earlier article here. Just look at the ageing population in […]

Read More

5 Comments

  • Hui Yi on February 2, 2014

    I hope I would retire in Ipoh….

    • chialih on February 2, 2014

      I hope so too. Really do.

  • PTM on April 21, 2014

    i just bought a new house in ipoh last year under 300k… new phase starts at 360k already… its like klang valley… not every area subject to the same appreciation in price… choose wisely… one day i’ll retire here.

    • chialih on April 21, 2014

      Agree with you Ptm. One day when both of us retired in Ipoh we enjoy white coffee together. Old people just sit talk n drink Kopi. Oops. That’s me in future.

  • […] Next suggested article: Buying Ipoh Property for retirement? […]

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Property investment news everyday? Subscribe for free!

An article a day, keeps you updated all the way.

Join 904 other subscribers

LIKE us for property news update, FREE.

%d bloggers like this: