Malaysia is an open country that welcomes foreigners as tourists, workers or investors. According to the Malaysia Tourism Board, the country embraces 25.7 million tourist arrivals while the number of legal foreign workers in the country tallies to 2.07 million.
However, Malaysia is more than a hotspot for tourists or expatriates. The country is also luring in more foreigners to buy property in Malaysia. Although Asia properties can be easy to buy, there are some guidelines when buying real estate in Malaysia as a foreigner.
Plan your next property investment in Malaysia by knowing the rules and regulations.
There are two kinds of real estate entitlement in Malaysia. One is Freehold, which means full and permanent ownership; and Leasehold, which means ownership for a limited time.
Malaysia My 2nd Home or MM2H is created for foreigners who are bound to stay for long. It is a 10-year renewable visa that allows reduced deposit payment for property investment in Malaysia.
Acquiring Asia properties also has rules and restrictions in sharing their land. In Malaysia, the minimum amount of property that can be owned by a foreigner is RM2 Million—including MM2H visa holders.
In addition, a foreigner cannot own properties located on Malay reserved lands, properties allocated to Bumiputera, most agriculture lands, and low and medium-cost properties as decided by State Authority.
Know which property is available for purchase and which best suits you.
After understanding important facts about the Malaysian property investment strategies, it is valuable to know which kinds of Asian properties are allowed for foreigners to buy. Here is a list of all the possible properties to own:
Wondering which kind of property will suit your needs best? Yazhou Property may help you find the right property. Check out listings of Asia properties or contact us to know more about our services.