Selangor is one of the 13 states of the country of Malaysia. It is located at Peninsular Malaysia and surrounds the federal territory and national capital of Malaysia, Kuala Lumpur. Aside from its proximity to the country’s city centre, let’s take a look at more reasons why Selangor, also dubbed as ‘the Golden State of Malaysia’, should be the next place for your Malaysia real estate investment!
It’s Malaysia’s richest state
Aerial night view of Selangor’s capital city, Shah Alam
Previously hailed as the richest state, Selangor still has the largest economy in the country. In 2014, the state of Selangor’s GDP contributed 22.4% to the country’s overall 6% GDP increase. In 2015, it contributed 22.6% to the country’s 5% economic growth.
Buying your Malaysia property investment in Selangor means investing in a continuously developing and progressing area. Since 2005, the state has steadily maintained its economic health and enticing tourism wonders.
It has the largest workforce
The Malay Online reports that Selangor contributed half of Malaysia’s increase in employment (305, 300 out of 631, 600 jobs) between 2014 and 2016. Also, Selangor reportedly has 3.2 million workers who are skilled and bilingual.
The Kuala Lumpur city skyline at night
Selangor has the most number of colleges and universities in Malaysia. It is no wonder that their workforce is so large. Some universities in Selangor include the Binary University College of Management & Entrepreneurship, HELP International College of Technology, and Stamford College. There are also 40,000 graduates every year who, of course, start to look for jobs.
This means a higher demand for rental places. Thousands of students and employees live their day to day lives in Selangor and could be potentially looking for Malaysia homes or condos in the area. Now, more than ever, is a good time to buy Malaysia property in the state whether for your own use or for you to rent out.
It’s rapidly developing
The magnificent Seri Wawasan bridge at Putrajaya, Selangor
Selangor was named the first developed state in Malaysia in 2005 and had the highest Human Development Index (HDI). Generally, having a high HDI means that a country has longer lifespan, higher education, and higher GDP per capita.
In addition, the first phase of the much anticipated brand new Kuala Lumpur MRT line opened on December 2016. It initially has 12 stations traversing areas in between Sungai Buloh and Semantan. Once completed, the MRT line is expected to serve 1.2 million people in the area. With increasing accessibility, property prices along the route of the MRT are expected to rise with a demand for proximity to the line.
- Malaysia Property Investment: Can Foreigners Apply For A Housing Loan?
- Top 5 Best Places To Invest In Malaysia Properties
- When Is The Best Time To Buy Malaysia Property?
- What Kind Of Malaysia Property Can Foreigners Buy?
- A Foreigner’s Guide To Buying Property In Malaysia