Kuala Lumpur - A Rising Metropolitan
Landmarked by the Twin Tower and Independence Square, Kuala Lumpur (KL) is Malaysia’s largest city and the center of the country’s political and economic activities. Its vibrancy has earned high reputation across the globe. Globalization and world cities research network GaWC ranked KL as an alpha city, alongside Los Angeles, Sydney and Milan. The Malay government further opened its doors for foreign investments in recent years and its 2020 Kuala Lumpur Development Masterplan will be able to place the city as one of the leading economies of Asia.
Well Rounded Educational System and Low Cost of Living
Kuala Lumpur’s educational system excels comparatively to others, being named the 2020 World Library Capital in 2018 by UNICEF, selected for its strong focus on inclusive education with a knowledge-based society and accessible reading for the city’s population. University of Malaysia, University of Technology Malaysia and University Kebangsaan Malaysia are ranked among the top 100 universities in Asia by QS World University Rankings. Furthermore, the University of Malaysia is ranked as the top 38th university in Asia by UK newspaper The Time in 2019.
Low cost of living is one of KL’s most attractive factors. According to a report by NUMBEO, KL is placed at 249th place among 384 cities according to its living cost which ranks even lower than that of Cambodia’s Phnom Phenh. Friendly locals and a dynamic food culture are the major reasons in attracting tourists. Mastercard’s Global Destination Cities Index 2018 placed KL at 7th place among the globe.
Infrastructures to Prove Rising Property Market
Infrastructure developments will help to further stimulate KL’s economy. The Tun Razak Exchange (TRX) at KL’s upcoming CBD will be one of the largest developments costing over USD 1 billion. Moreover, the KL MRT Expansion, Trans Asia Railway, East Coast Railway and Bandar Malaysia will provide a new outlook for Malaysia as part of the 2020 KL Development Masterplan.
KL’s property housing outperforms its neighboring Asian cities. Taiwan’s Abundance Property Ltd. reports that KL’s market exceled at 17.18% in 2014, ranking 1st place among Asia’s top markets. In previous years, the market has slowed down but as the city’s masterplan continues to shed light, foreign investors are establishing their regional headquarters in the city. Population and income level steadily increase which are foreseen as factors to propel the property market and create high capital gains for investors.