Malaysia’s economy, great-valued property prices, and its supportive government are the key reasons why owning and investing in Malaysia property are desirable now, more than ever.
According to the International Monetary Fund (IMF), the currently growing Malaysian economy is nearing the line in achieving a high-income status, with a projected growth of 5.3% in 2018. Malaysia IMF mission Chief Nada Choueiri said that the Malaysian economy is “performing strongly” for the first half of 2018.
In addition, developments are tripling in the Southern state of Johor, especially in Johor Bahru because of its prime economic location. One of the notable properties in the area is the luxurious R&F Princess Cove, the first HOPSCA (Hotels, Offices, Parks, Shopping Malls, Clubhouses, and Apartments) in Asia.
Located just at the edge of Malaysia, Johor Bahru serves as the gateway to Singapore. Furthermore, the construction of the Johor Bahru-Singapore Rapid Transportation System (RTS) to be completed in 2024 will provide a seamless travel in both Malaysia and Singapore. This will get at least 150,000 Singaporeans to live in Malaysia in the future — an instant population increase that would further Malaysia’s economy.
Malaysia Property: Great Value for Money with High Investment Security
Along with the increasing economic status is Malaysia property’s great value for money. Looking past Malaysia’s relatively low rental yields which range from around 2.3% to 5.4%, investing in this growing country has the potential of reaching high Malaysia property sales. Thus, investing now will give you an economically advantageous property that would most likely secure a high price increase in years to come.
On top of that, the cost of living in Malaysia is low to average. According to Expatistan Cost of Living Index, Malaysia ranked number 76th out of 108 countries.
Lenient foreign ownership policies
Foreigners can own a Malaysia property much easier than in other countries. You can have 100% ownership of any land or property with only RM 1,000,000 minimum purchase. In addition, you must take note that other states have the authority to alter the minimum purchase set.
However, it is strictly imposed that foreigners cannot buy:
- More than 10% of the Indigenous land
- Agricultural land
- Government-designated housing land
- Malay reserve land
Basically, one can own a variety of lands and property be it a KL luxury condo, a Penang property, or a Langkawi penthouse.
Government’s support: MM2H Programme
The Malaysia, My Second Home (MM2H) programme allows all foreign applicants who meet certain requirements to stay in Malaysia almost indefinitely. Qualified applicants will receive a renewable multi-entry social visit pass lasting for 10 years. Applicants can bring their dependents which include their spouse, parents over 60 years old, and unmarried children under 21. Older children would have to apply for a separate visa.
Other benefits of having an MM2H visa include a chance to study in private colleges and universities, to import your car or pets, and to buy Malaysia property under the minimum price set by each state.
Being an MM2H holder, you can purchase properties with advantageous pricing in other states. For instance, you could also purchase units from the prominent R&F Princess Cove in Johor Bahru for only RM 500,000 as compared to the RM 1,000,000 minimum purchase cost for non-MM2H holders.
For more information about their online application, click here.
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