Malaysia Listed in Property World
Browsing the Internet, we found Malaysia’s listing on the website Property World, which is property magazine based in the Middle East.
The website concentrates on real estate for sale and onward rental including multi-country purchasing guidance, related service and special interest editorial. It is aimed at both expatriates and nationals who live and work in the Middle East Region as well as overseas residents interested in the Middle East Property Market. Anyway we found a few good articles and links there, but the thing that first caught our attention was the country property fact sheet.
They only mentioned 19 countries, with Singapore, Thailand and Malaysia the only SE Asian countries mentioned.
Anyway, the profile page showed a pretty blurry map of East and West Malaysia, and the info was quite interesting. An excerpt is shown below:
buying areas: High-end residential property in the affluent Klang Valley continues to dominate the residential market. Other favoured areas are Bandar Utama, Kota Damansara, Sunway Damansara, Mutiara Damansara and Langwaki (sic).
Price ranges: Vary as ever by quality and popularity of area but Malaysia offers a very wide spread of pricing bands. A 20% deposit of the house value is usually required.
Budgetary guide: Condominiums: US$ 66,000 to US$ 250,000, Bungalow: US$ 66,000 to US$ 225,000, Two Storey Bungalow (5 to 7 bedrooms): US$ 396,000 to $US 1.3 million, Luxury Villas: average US$ 925,000 upwards.
Overseas Investors: Foreign owners are permitted to buy up to two houses at a cost of not less than US$ 66,000 each, which also entitles them to a housing loan from a local bank. If selling a property they are subject to 30% Capital Gains tax.
And they cited 4 sites of source info – the Star (property section), Malaysian Ministry of Culture, Arts & Tourism, Malaysian Ministry of Home Affairs and Exchange.
