A HR Manager told me many years ago that it’s not hard to convince expatriates to relocate to Malaysia. Especially if they get almost the same pay as their home country after conversion into Ringgit. It’s still true today even if some expatriates would say that they prefer our neighbour, Singapore. Beyond just the pay, there’s also the Malaysian people who’s friendly and it’s easy for these expatriates to assimilate themselves into the job quickly. Today, let’s talk about the rental which these expatriates pay here in Malaysia. Briefly, it’s low by any international standard and tells us why many of these expatriates could stay in neighbourhoods we are only dreaming about.
Article in propertyhunter.com.my here. According to an accommodation survey by ECA International, the average expatriate rents in Malaysia’s capital increased by 7.42% to US$1,621 (RM6,576) per month in 2018. Previously, rents in Kuala Lumpur saw a sustained drop in 2015 to 2017 due to the local economy lately and the fact that there was a large supply of rental properties despite weaker demand. Even so, rents rebounded in 2018. “Rents for apartments staged a recovery in 2018, but Kuala Lumpur is still very affordable for a major city in the region,” said ECA’s Regional Director for Asia Lee Quane. In fact, average rents in neighbouring Singapore dipped 1.3% to US$4,215 per month, but it remains its position as Asia’s eighth most expensive location for an expatriate to rent a home. Article in propertyhunter.com.my here.
Whether the company pays or the expatriates themselves pay for their rental, look at the difference between just Kuala Lumpur versus Singapore. It’s RM6,576 vs USD4,215 (RM17,100) We need to also be reminded that Singapore’s rental is still only 8th most expensive in Asia. 😛 This is one major reason why that connectivity between Iskandar, JB in Singapore would be vital and it will help the rental market for the upscale homes tremendously. Yes, I am still waiting for the news update on the Rail Transit System (RTS) which is too quiet for comfort currently. Happy understanding and well, buying a property fit for expatriates to rent.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
written on 20 March 2019