Selangor is a state of Malaysia
that located in the central region of the country peninsula. Selangor is the richest state in Malaysia
in terms of GDP, as part of it falls under the Greater KL metropolitan area. The population of Selangor is around 6 millions, and it has a diverse population with races that consist of Malays, Chinese, Indians, Banglas, Indons, and Nepalis. The public transportation here is the same as that of Kuala Lumpur
, as the state is basically connected to KL City Centre
by the same public transportation systems.
As for the real estate market, Selangor has one of the least affordable housing markets in the country due to its massive population influx from other states. Besides, the high property prices here are also due to the many high-income workers from the GLCs, IT multinationals and local O&G giants based in Selangor. However, there are also many low-income foreign workers mainly from Bangladesh, Indonesia & Nepal here as well, where they usually live in one of the many low-cost flats in a crammed fashion.
The following shows the property transactions in Selangor over the last few years:
In order to curb property speculation, however Selangor has one of the least foreigner-friendly real estate investment policies by the state government. Foreigners are not not allowed to buy individual landed residential properties, while there is a minimum price of up to RM2 millions for high-rise residential property purchase.