Malaysia The Property Investors Darling
Malaysia property market has plenty to offer: a superb climate, stunning coastal and rural scenery, a multitude of recreational activities, buzzing city life in Kuala Lumpur and charming, polite, multi-cultural people.
On an investment level, excellent international airport links and modern transport within the country allow easy passage to its favourite resorts and cities. With banking and legal systems akin to those in the UK, more cautious property purchasers are undeniably reassured by a purchase in Malaysia.
Shrewd property investors are fast recognizing the potential Malaysia offers for investment both in the city as well as in Malaysia’s emerging coastal tourist resorts. With growth on residential city property over the past five years rocketing to between 15 and 30% and rental yields at a very respectable 7.4 to 8.7%, it is easy to see why Malaysia is now becoming the darling of many overseas property investors, all eager to make some of the most worthwhile investment returns available in Asia today.
Fully equipped to deal with the new wave of investors, Malaysia treats foreign buyers pretty much on an equal footing to the locals, while all are protected by the same real estate laws. However, certain restrictions do apply: foreign ownership is currently limited to a minimum value of MYR 250,000 (approximately GBP36,000, EUR54,000, or USD72,000) with various government stipulations regarding maximum ownership of properties, subject to what you wish to purchase.
Also once you have bought your property, under Malaysian law you must hold onto it for at least 3 years. This aside, the buying process couldn’t be more straightforward, while Malaysian banks are more than willing to finance up to 70% for property purchase. Do be aware that the application process could take up to three months rather longer than in other countries so make sure you get your paperwork in early to avoid unnecessary delays.
With the Malaysian Ringgit so cheap against other currencies such as the US dollar, the Euro or the British pound, the good news is that seekers of property for investment in Malaysia are not only grabbing at timely bargains at emerging market prices, but they are also getting so much more for their money than in many other worldwide