There are numerous reasons to make the most of Malaysia’s attractive property market.
Malaysia offers some great opportunities for real estate. But why invest here over other countries in the region? And why now?
1. Open to foreigners.
Some countries make it tricky for overseas investors to buy property. However this is not the case with Malaysia. In 2003 the Malaysian My Second Home scheme was launched by the government in a bid to generate more interest from foreigner purchasers. Ten year visas were granted for those participating who can purchase any type of property. Plus the country have made it even more attractive with excluding foreigners from capital gains tax until the end of 2025. Retirees now flock to the country to take advantage of the affordable living conditions that the country has to offer.
2. Weak ringgit.
The Malaysian ringgit is currently at a low level meaning that those investors wishing to part with their American dollars, Japanese yen and Australian dollar can do so with an attractive discount on offer. All these currencies haven’t enjoyed exchange rates quite like this before creating the ideal time to take advantage. Even the British pound and euro are getting a look in too.
3. Strategic location.
Malaysian is a bit of a hub for the region. Flights operate across the region from Kuala Lumpur making the country extremely accessible. In fact, some travel routes to holiday destinations such as Bali and Lombok are better from Malaysia than other leading Southeast Asian cities. On top of this Malaysia is a stone’s throw from the financial powerhouse of Singapore and 60 percent of the world’s population can be reached within its five hour radius.
4. Low prices.
The residential market has taken a bit of a battering recently. Partly a result of the slowing down of the gas and oil industry and a surplus of supply. Whilst the luxury market is making moves in an upbeat direction there still remains the opportunity to snap a bargain at a price that is more affordable than the rest of the region. Also as many astute investors have taken heed of, the marketing price is not always the actual selling price.
5. Straightforward purchase.
Malaysia operates under the Torrens title system. A process that is considered to be transparent and safe. Common in Singapore and Australia, this system means that those listed on the ownership title are filed at the local land title office rather than through deeds. However foreign investors do follow a slightly different process than local purchasers. Namely they require state approval ahead of the process from one of the country’s 13 states. Each state has its own regulations that time restrictions and fees so it is advisable to seek professional advice to make sure you are aware what is required from you. Plus loans are available for foreigner who aren’t cash purchasers.
6. Wide range of property.
A high rise condominium overlooking Kuala Lumpur’s skyline. A unit within the conveniences of a township. A holiday home on the island of Penang or Langkawi. Or a standalone family home. Malaysia has a wealth of different types of property to suit all budgets and tastes.
To take advantage of Malaysia’s attractive property market take a look at Dot Property’s comprehensive listings online here.
