Are you looking to invest in Malaysia’s property? Being a non-Malaysian willing to purchase residential property in Malaysia, you need to learn about the conditions, qualifications and restrictions associated with doing so. Any foreign interest, according to Economic Planning Unit of the PM department of Malaysia, the property cost should be above RM1,000,000. The cost must not be below the mentioned figure and should not be categorized as low-medium cost or low-cost determined by State Authority.
There are several benefits of buying a property in Malaysia like you attain ownership status, and even the loan mortgages are flexible. Property cost in Malaysia is the cheapest in entire Asia. Besides, there are various reasons for buying real estate property in Penang. Malaysia’s property investment is showing great potential for growth and is much in demand. Both local Malaysians and foreign investors look forward to buying a property in Penang. The economy of Malaysia is growing and shows signs of political stability. The best part is that the region is free of natural disasters. So, you must consider the purchase of property in Malaysia.
Key Reasons for Buying Real Estate Property in Malaysia
- Direct ownership of the property is allowed
- you can gain the ownership of landed property
- The buyer gains access to title document and other property documents. There is an immediate transfer of property ownership
- you can own a freeholding property
- no need to incur any property inheritance tax
- you can buy any number of properties in Malaysia
- no repatriation restriction is imposed for property investments
- no capital control
- when it comes to stamp duty, legal fees payable, the rules are the same for foreigners just as local Malaysians.
- the property gain tax is just 5% after 5 years
- you can sell the purchased property anytime in the market
- a buyer can also invest on the auction property
- RM1 million only required to make property purchases.
In Malaysia, a buyer can find too many places to make property purchases. More and more foreigners now look forward to buying properties in Malaysia and this is all due to the growth potential. The cost-of-living in Malaysia is lower when you compare it to other Asian territories. The best part is that properties sold after the tenure of five years are not eligible for RPGT or Real Property Gain Tax. The relatively soft stance on the RPGT is another reason why buying property in Malaysia is an attractive proposition.
Basic reasons for buying property In Malaysia
Are you looking to buy a property in Penang? You may be thinking about the real estate in Penang. Real estate Penang is showing the signs of growth. Some of the best reasons for making property purchases in Penang:
- Property prices in Malaysia are affordable and within the reach of budget buyers. You may get great value for money by making purchases in Malaysia
- When compared to UK, Singapore and Thailand or Australia, the cost of buying property in Malaysia is lower. The cost is incredibly lower at the circa of just 4-5%.
- A lot many banks can lend money to foreign buyers or investors
the capital gain tax is fairly lower
So, it is advantageous to buy a property in Malaysia.