WHY INVEST IN MALAYSIA PROPERTIES ?
LINKS TO:- Why Malaysia ? Malaysia Economy Outlook
Malaysia is catching the eye of many discerning property purchasers worldwide. Below is a comprehensive list explaining why Malaysia is such a popular investment arena today.
There are many economic and political reasons why Malaysia offers so much promise as a strong emerging market today. Successful investment in property in Malaysia relies chiefly on the ever increasing tourism figures, as well as commercial and residential options within the capital city of Kuala Lumpur & key cities of Penang - Georgetown, very popular with foreigners & Johor Bahru - just north of Singapore with many exciting development programs. Below you will find the main reasons why Malaysia affords a great investment climate for foreigner property purchasers today:
- One of the fastest growing economies in the region (+7% est.)
- British legal system, property laws and environment
- Freehold property ownership and security of title
- Active government incentives (Malaysia My Second Home Programme - MM2H) encouraging foreign homebuyers to the country through offering 10 year entry permits visa RENEWAL FOR LIFE.
- Attractive, well-priced properties with strong rental demand
- Low buying costs at between 3.4 to 6.75% of the property value, including 2.75% agent’s commission (for first MYR 500,000)
- Strong capital growth of between 10 and 30%
- Effective Land Registry and transparency in property transactions
- Tax advantages: remittances of income from overseas are TAX FREE
- Car import duties and other taxes are waived for foreign residents - MM2H Program
- No capital gains tax on unearned income inside the country
- No requirement, as in neighbouring countries, for a company or local “partners” to buy property
- No Capital gains on real property profits
- Strong demand for resale properties from locals moving to the cities & surrounding areas.
- Also a high demand for quality new real estate is high from an affluent expatriate market.
- Among the top three countries for the greatest number of tourist arrivals among the 53 Commonwealth countries, according to the World Tourism Organisation.
- Tourist arrivals in Malaysia rose by more than 200% between 2000 and 2007 - an astonishing achievement for tourism - ( In 2007 more then 20 Million tourist worldwide visit Malaysia - a record breaking year)
- Many oversea investors are already active in the market and this is expected to grow
- Good, modern communications and infrastructure country-wide
- Through its Ninth Plan, the government of Malaysia aims to further improve the infrastructure and general economic development of the country. Analysts believe this will have a positive impact on the Malaysian real estate market.
- The value of the local currency, the ringgit, is far below the euro, dollar and pound sterling, allowing foreign investors to buy a lot more for their money in Malaysia.
- Easy and cheap to reach with even budget flights from Asia, Australia & UK in early 2009
- Low cost of living: eg. petrol at US 60 cents per litre, cigarettes US$1.50 per packet
- Low cost of regional flights on Air Asia to major S.E.Asian cities, China & Australia currently
- High quality development properties in prime areas are now available
- Strategic location - close to Australia, Bali and Singapore
- English language widely spoken and all property sale agreements in English
- English language newspapers, radio and television available everywhere
- Wonderful climate and food. Superb golf and other sports facilities.
- Extensive white sandy beaches continue to draw holidaymakers.
- Warm, friendly people and peaceful pro-British environment