Property Market Malaysia: Prices across all states. Which is highest and lowest?
There is little doubt really. The highest property price would have to be WP Kuala Lumpur as it is small and it has the world’s tallest twin towers building; Petronas Twin Towers. Every home which is nearby (within walking distance) and everyone with a spectacular view of the Petronas Twin Towers would have priced in the extra exclusivity into the property price.
Due to this, areas nearby these areas with exclusivity will tend to be higher too as it’s nearby these exclusive areas. We cannot run away yeah, city centre is usually where the highest prices are. That’s the major reason why people start moving further away. The further away from the city centre, the more affordable it becomes. So, it’s a choice of distance versus size too.
Property Market Malaysia: 75 Percentile Home Price in WP Kuala Lumpur?
The 75 Percentile price of properties in WP Kuala Lumpur is RM770,000. So, if you do own a property which is RM770,000 or higher, you are already owning a property which is top 25% priced in WP Kuala Lumpur. An extra pat on your shoulder if you achieved it by yourself either through corporate career life or entrepreneurship yeah.
By the way, as long as you own a property within WP Kuala Lumpur, the property price may just follow the inflation and you would still do just fine. Continue to enjoy the property ownership and all the nice places you could plus the accessibility provided by the Monorail, LRT and even the MRT too as your home is within the city centre.
The median price is RM480,000 and the mean price is RM654,253. The reason why mean price is higher is simple. There are properties which are prices much higher than RM480,000. Thus, when they are added up and divided by the total number of properties, then the mean price will be higher than the median price.
75 Percentile Home Price in Selangor?
Anyone who has a property which is RM615,000 or higher would already be owning a property which is priced within the top 25 percentile. Of course if we compare this property to the one in Kuala Lumpur, chances are one would be able to buy a bigger property too based on the price alone. In fact, go even further and suddenly RM615,000 could buy a much, much bigger landed property too. Probably a gated and guarded township double storey terraced home.
Working in KL and staying in Selangor? Sounds like a great plan to me. I mean for most working professional, this may just be the best arrangement.
Buy based on what you can afford
Higher prices do not mean better homes. Better homes do not mean bigger in size or nearer to office. Better homes mean this property you bought has brought you many great benefits. Perhaps it’s near to your children’s school. Perhaps it’s in the middle of you and your partner’s office.
Better homes also mean you do not worry every time of the month when the mortgage is due. Seriously, a better home cannot be one which causes you sleepless nights worrying about the mortgage payment. Just buy what you can afford. That’s the better home in every financial sense. As for dream home, acceptance is way more important than worrying about what others may think.
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