WHAT does an RM800,000 home look like around the world? We searched the markets that are most popular with Malaysian buyers to find out.
Right here in Kuala Lumpur, you can buy a 1,210 sq ft, four-bedroom, two-bathroom residence for RM808,300. The 46-storey, single-tower project is D’Clover Residences by renowned developer Exsim Group. Among the luxurious amenities that the 593 serviced apartments will enjoy are a half basketball court, badminton court, karaoke room, jacuzzi, swimming pool, a gymnasium and more.
In the Western Australian city of Perth, about the same amount of money buys you a 614 sq ft apartment with one bedroom and one bath. It is a generously sized apartment with engineered timber flooring, granite kitchen benchtops, a covered car bay and a personal storeroom. The building is secure and has a remote security gate and intercom system.
You might not think you can get anything in London for about RM800,000, but you can — just barely. For the equivalent of RM810,000, you can purchase a secondhand 179 sq ft studio apartment. The downsides? It’s small. The finishings are anything but luxurious, and you won’t own the apartment freehold but will instead own a 125-year lease, which you can resell if you like. The positives are that it is close to shops and the major transport hubs of Kings Cross & St Pancras International. And prospects for capital gains are good in an area seeing massive investment in new infrastructure and housing. This studio is about the cheapest way to own a full-time home in London.
In Bangkok, you can obtain a brand new luxury apartment that, at 377 sq ft, has more than twice the floor area as the London studio. This one-bedroom, one-bath apartment is located in an attractive 44-storey building with a garden, rooftop swimming pool, fitness room, sauna/steam room, playground and more. It is convenient, being close to two train stations, shopping and more.
In Vietnam’s southern metropolis Ho Chi Minh City, RM791,000 will buy you an exciting two-bedroom, two-bathroom apartment in the Masteri Centre Point project. This spacious 754 sq ft residence is being built by one of Vietnam’s most trusted developers. Through floor-to-ceiling windows, it offers sweeping views of Dong Nai River. It is outfitted with wooden floors and with fixtures from such leading brands as Kohler (USA), Hafele (Germany) and Daikin (Japan). The apartment is located in a new, landscaped township with parkland, sports areas and playgrounds and close to Ho Chi Minh City’s largest shopping mall, international schools and a 36ha riverside park.
In the US, just 10 minutes from downtown Dallas, Texas, you can buy an entire new house on its own land for just RM736,000. The house is 1,400 sq ft and sits on 4,489 sq ft of land. It has three bedrooms and two bathrooms. As for finishes, there are laminated wood floors, granite countertops, and stainless steel appliances. The master bedroom includes its own walk-in closet and master bath suite. Outside, there is an attached garage and a private fence around the yard.
Kuala Lumpur offers relatively affordable homes by global standards. Here, you can obtain a home in an excellent location with luxury fixtures and amenities for RM800,000.
Whether you are moving overseas or just investing, for about the same price, you can obtain desirable homes in other global cities. You might be surprised at how much you can get in other countries for about RM800,000.
In London, however, you can only afford a small studio apartment. It’s not by any means new or luxurious, but it is close to major transport hubs. You can have a toehold in London for the price of a family home in Kuala Lumpur.
We looked at Singapore but couldn’t find a single viable home for sale to Malaysian buyers in that city for about RM800,000.
In the US city of Dallas, you can obtain a three-bedroom landed house. In Perth, Australia, you can purchase a generously sized apartment with engineered timber flooring and granite kitchen benchtops in a secure complex with a remote gate and intercom system.
In both cases, there are tradeoffs. The Dallas home is in a zone with flood risks. Given the worsening weather patterns, the chance of being flooded might increase in the years to come. The Perth home is everything a person would need, but it’s across the river from downtown Perth and is at the lower end of the market there.
The best buys are in Kuala Lumpur, Bangkok and Ho Chi Minh City. At the Master Centre Point project in Ho Chi Minh City, IQI Vietnam can help you buy a brand new luxury two-bedroom, two-bath apartment with sweeping views of Dong Nai River through floor-to-ceiling windows. You will live in a new neighbourhood packed with outdoor play areas, sports fields and parks.
This article was contributed by Juwai IQI co-founder and group CEO Kashif Ansari.