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Malaysia is one of the top choices when foreigners decide to buy property in Southeast Asia.
It’s not strange as you’ll be able to obtain a 10 year visa, own land and buy property that’s comparably cheap with other countries in the region.
You’ve probably heard of places like Kuala Lumpur, Penang and Johor Bahru, still, one of the most overlooked cities is Ipoh.
In this article, I explain how you can buy property in one of the most affordable cities in the world.
Ipoh is the capital city of the state Perak and located beside Kinta River. The distance from Kuala Lumpur and Georgetown is also short and a mere 2-3 hour drive away (200 km and 160 km respectively).
In fact, Ipoh is located right in between these two cities, putting it in a great position, as it’s closely located to the most popular places in Malaysia.
A lot of transportation also runs through Ipoh, making it into a transportation hub. Both the North-South Expressway road link and the Malayan Railway’s West Coast Line passes through the city.
Interestingly, Ipoh is the 3rd biggest city in Malaysia in terms of population, still, many foreigners haven’t heard of it.
The reason is probably mainly due to that tourists don’t have Ipoh as their first choice, when going to Malaysia. I think you agree when I say that Ipoh is a bit overlooked when looking at the following info:
a. In 2016, International Living Australia rated Ipoh as the friendliest city in Malaysia
b. In 2015, Lonely Planet ranked it as one of the top 10 destinations in Asia
c. In 2014, US media ranked the city as one of the 9 best places to retire
d. In 2014, it was ranked as one of the 9 most affordable cities in the world
Not surprisingly: in recent years, the number of foreigners has increased in Ipoh due to the above mentioned reasons.
Ipoh property market
Malaysia has a slower economic growth and has faced a drop in GDP per capita the past years.
With a lower purchasing power, the domestic demand for Malaysian property has been affected as well. The state of Perak (where Ipoh is located) has not been an exception.
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