Malaysia is a beautiful country that one can easily fall in love with. Fortunately, it is also one of the countries in Asia that openly welcomes foreigners to buy property investments. Properties in the country are considered to be more affordable and have less capital gains tax than its neighbouring countries like Thailand and Singapore. So what do you need when you want to buy a Malaysia property investment? Let us help you out.
The beautiful skyline of George Town at night
What property investment can I buy?
Malaysia is currently welcoming foreign investors with open arms in order to boost their economy. This is why the government has been more lenient about foreign investment requirements. Foreigners can choose to buy a lot of properties from Malaysia real estate to commercial buildings, specifically:
Properties which cost less than RM1 million in total
The busy roads of Kuala Lumpur
What are the requirements?
Before, the Foreign Investment Committee usually had to approve foreign Malaysia property investments first. Now, you only have to get the committee’s approval if the property you buy exceeds RM10 million.
We’ve previously given you the requirements for a housing loan in Malaysia. Here, we delve into the wider scope of properties. Generally, foreigners are allowed to buy properties that at least cost RM1 million, be it a Malaysia luxury apartment or home, but it may differ depending which state they choose to buy in. For instance, in Selangor and Penang island the minimum purchase for foreign investors is at RM2 million.
The minimum purchase requirement can also become lower if you choose to apply for the Malaysia My Second Home programme. For instance, from the initial RM2 million requirement, you can buy a minimum of two Malaysia property investments for RM500, 000 each in Penang under the MM2H programme.
The Kuala Lumpur skyline sparkles on New Year’s eve
How do I buy a property investment?
First and foremost, do your own research about Malaysia property investments. Second, it’s vital that you find a really good real estate lawyer to walk you through the process of acquiring an investment especially if it’s your first time. Third, find a Malaysia real estate investment that will perfectly fit your needs. Remember not to rush into it.
Once you’re done, you’ll be given either of these two titles for your property:
The Individual title is usually given to landed properties, or when you own a specific piece of land.
The Strata title is usually given to non-landed properties, or those in buildings, terraced houses, etc.
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