Ok so take Penang and KL these condos can only be afforded by very few locals so mainly expats and there ain't that many to satisfy the demand. I'm not talking high high end (10000RM plus) just between 3000 and 8000 ish and the listings are negotiable on rent. If you offered them 12 months up front you would probably get 20% discount at least. I'm not even talking link houses, villas etc. These condos must be a terrible investment with poor yields, especially areas like mont kiara say
Unlike many countries where people prefer to rent than buy, Malaysia is unique. There are only 2 type of buyers, owner occupied or flippers. There's no many of those who invest and hope for high yield.
People buy and keep for capital appreciation. If they can rent it out, that is the bonus to help in mortgage repayments. If not, they just keep it whether it is kinda savings, holiday home or leave it for their children. They know if they sell now, they won't buy back at same terms and price. Somehow, mortgage repayments are made on time. That's why you do not find many auctions around on default units.
If you are looking to buy and rent for immediate high yield, properties in Malaysia is not suitable. If you had invested some 10 years ago, then it is viable. If you want to invest now, the boat had sailed.