Malaysia Property Market
Why Invest in property in Malaysia?
Overseas buyers are eligible to buy 2 houses at a cost of not less than RM150,000 each (about £22,000).
For this purpose, they are also entitled
to apply for a loan from a local bank for 60% of the purchase price. There
is no upper limit to the cost of properties that may be purchased by
overseas investors in Malaysian property. Some local banks are able to
provide loans of up to 70% of the purchase price for certain developments
and we can assist with this.
The standard procedure for purchasing a property is almost exactly the same as in the UK. Some of our new development properties are also available at substantial discounts off-plan and may attract higher loan-to-value ratios.
In the case of new developments, Architects’ Certificates are issued at each stage of the agreed development process and the stage payments then fall due. We provide independent, regular quarterly reports with photographs and full descriptions of the project status for each of our new developments and on completion, a Certificate of Fitness for Occupation is issued by the state authorities.
The property can then be handed over to the purchaser for occupation. Management and maintenance fees are generally very low in Malaysia as labour costs are inexpensive and an average monthly cost of 3 to 4 pence per square foot per month is to be expected.
Key Facts
- Major tourist destination with rapid growth in China and Korean arrivals
- Economic growth is forecast at 7% compound annual rate to 2010
- Young, growing population - moving to Klang valley
- English-based legal and education system
- Stable, strong oil-based currency (US dollar tracking)
- Longest-serving democratically-elected government in the world
- Former British colony, so familiar ‘feel’ for UK visitors
- Charming, polite, multi cultural people. Superb climate and food
- English almost universally spoken and understood
- Property laws and banking system based on UK model
- Low cost of living with low inflation and attractive finance rates