Deciding where to invest in Airbnb properties in Malaysia, specifically in Penang, Kuala Lumpur, or Ipoh, depends on various factors, including your investment goals, budget, and risk tolerance. Here are some considerations for each location:

Penang:

Pros: Penang is a popular tourist destination known for its rich culture, historical sites, and beautiful beaches. It attracts both local and international tourists, making it a potentially lucrative Airbnb market. The demand for short-term rentals can be high, especially during peak tourist seasons.
Cons: Property prices in Penang, especially in tourist-centric areas like Georgetown, can be relatively high. Competition from other Airbnb hosts may also be intense.
Kuala Lumpur:

Pros: Kuala Lumpur, as the capital city of Malaysia, has a constant flow of tourists and business travelers. The city offers diverse attractions, including shopping, dining, and cultural experiences. You may find a steady stream of guests throughout the year.
Cons: Property prices in central areas of Kuala Lumpur can be quite high. Additionally, you may face competition from a larger number of Airbnb listings in the city.
Ipoh:

Pros: Ipoh is known for its heritage and charm, with a slower pace compared to Kuala Lumpur and Penang. It has been gaining popularity as a tourist destination in recent years. Property prices in Ipoh are generally lower than in the other two cities, which could lead to a more affordable investment.
Cons: While the demand for Airbnb properties in Ipoh is increasing, it may not be as consistent or high as in Penang or Kuala Lumpur. You might experience seasonal fluctuations in occupancy rates.