Investors in Hong Kong often overlook the prospects that developing countries offer, particularly an up and coming market such as Malaysia. This Asian jewel has been growing faster than its neighbors in the past two decades, earning the title of Asia’s Five Little Tigers and proving highly competitive (the details can be found below). Selangor is the best-developed state in Malaysia, attracting the attention of Hong Kong people who’ve planning a move to the region.
According to the IMD Competitiveness Index, the Malaysian economy was the 14th most competitive market in the world and fifth among countries with a population of over 20 million, which placed it above places like Japan, Australia, and the United Kingdom. The World Bank also listed it as the sixth easiest country in the world to do business in and the sixth most active country for foreign investment by FPM.
These facts show that the world recognizes the business opportunities to be found in Malaysia. As a result, migrating business ventures to Malaysia may not be that far-fetched for companies and corporations to do. This type of surge in demand in Malaysia would serve to be desirable for investors in the future.
Data as of the fourth quarter of 2019 showed that the composite average property price in Malaysia was RM 428,940 (approximately HK$780,000), representing an annual growth of +2.2%. Since foreigners cannot buy properties below RM1 million, they may consider buying properties in major cities with higher property prices, or choose higher-value housing types such as semi-detached houses (Semi-D) and detached houses (Detached Houses) ). For more details, please see Immigrate to Malaysia | Lower housing costs are the best choice for Hong Kong residents.
Selangor is located on the west coast of the Malay Peninsula, with a combined area of nine regions covering 125,000 square kilometers. Most of the land in Selangor has been developed, but it still has many green areas, ranging from mangroves along the coast to lush tropical rainforests. The capital of Selangor is Shah Alam, which is also the imperial city of the state. In 1974, the city of Kuala Lumpur and its suburbs in Selangor were divided into the Federal Territory of Kuala Lumpur by the government.
With a GDP growth of 6.7% in 2019, Selangor is also the main entry point into Malaysia. The beautiful Kuala Lumpur International Airport (KLIA) is built in the Sepang district of Selangor. There is also an important port, Port Klang, which is located within the Klang area on the west coast. Selangor is the closest to the capital Kuala Lumpur, and it is very convenient in terms of commercial economic benefits and government administration. Many government offices are located in Selangor.
Selangor has grown rapidly in recent years, with a 98.7% literacy rate and a workforce of 3.6 million. The more critical and strategic developments include: Kuala Lumpur International Airport, Multimedia Super Corridor and Science Park. Selangor is also the state with the most colleges and universities in the country, and its infrastructure and electronic communication facilities are also the best in Malaysia.
Selangor’s rich culture and sentimental lifestyle attract many tourists. This is a shopper’s paradise, with modern and palatial shopping centers offering a wide variety of products for customers to choose from. In addition, it also has many traditional small shops and night markets, offering cheap and good products.
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