Perak, Malaysia

Perak is a state of Malaysia that is located in the northern region of the country peninsula. Perak is considered a connecting state between the northern and southern regions of the country peninsula. Visitors usually just stop over the state for meals and rest while traveling between Kuala Lumpur and Penang via the North-South Highway. The economy of this state depends mainly on agriculture and mining, whereby it is very rich in natural resources, especially limestones.

As for the real estate market, Perak has an affordable and dull property market, as property prices here hardly move up or down. The reason for this is because the population of Perak is actually shrinking, while the current population has been stagnant for many years at around 2.5 millions. Most of the locals usually move to the bigger neighbouring cities Kuala Lumpur and Penang to find better jobs once they finish studying.

The following shows the residential property transactions in Perak over the last few years:

The purchase restrictions of properties by foreigners in this state is similar to that of Kuala Lumpur, which is a minimum purchase price of RM1 million, as the state government hasn't imposed any additional curbs and taxes besides those of the Federal government. There are only a few property investment hotspots here, such as Ipoh, Marina Island, and Tambun, while the rest of Perak is mainly Malay kampungs (villages).

Perak state government fully supports Proton in its plan to make Tanjung Malim the regioinal hub for the car industry, namely the Proton City Automotive Hub. Perak Investment and Corridor Development Committee chairman Datuk Seri Mohamad Nizar Jamaluddin explained that the presence of the vendors will open up job opportunities that will develop immediately. Hence, this will also influence the society and property market in the area. Further on that note, the state government had also obtained approval from the federal government to create a new district, Daerah Mua'llim which includes Proton City, Slim River, and Tanjung Malim.

Besides all that, Malaysia will have its first motorsports-themed modern integrated township development project named T-City. The development stretches out on a 172.5-hectare area of land in the Kinta and Kampar districts. T-City comprises of a Formula 2 Circuit, an automotive factory outlet, street malls and hotels.

Latest Perak for sale listings:

DateTypeBuilt-upPrice
TodayTerrace-NA-RM196,000
TodayTownhouse1,099 sfRM288,684
TodayCondominium543 sfRM110,000
TodayTerrace-NA-RM240,000
TodayShop-Office4,912 sfRM570,807
TodayAgricultural Land-NA-RM100,000
04-Dec-19Townhouse-NA-RM430,000
04-Dec-19Low-Cost Flat706 sfRM265,000
04-Dec-19Condominium1,948 sfRM900,000
03-Dec-19Condominium1,346 sfRM280,000

Latest Perak for rent listings:

DateTypeBuilt-upRental
TodayRoom In Apartment-NA-RM250
TodayRoom In House-NA-RM220
TodayRoom In House-NA-RM330
YesterdayCondominium1,700 sfRM3,000
TodayRoom In House-NA-RM330
TodayRoom In House-NA-RM350
05-Dec-19Room In House-NA-RM300
03-Dec-19Room-NA-RM450
03-Dec-19Room-NA-RM175
02-Dec-19Room In House-NA-RM400

1 user comments on Perak:

Ng Lian Soon
27 Sep 2019 @ 10:25 PM

Nice place for retirement or vacation place, peaceful and safe environment. Enjoy stunning lake view and hill view. There are conviniemce shop, clinic and restaurants neaby