Property Buying and Selling Guides
First Time Home Buyers
- The Purchase Process For First-Time Home Buyers
- Government's Assistance For First-Time Home Buyers
- How to Buy a House in Malaysia?
- The Must-Know Basics of Home Loans
- A-Z of Property-Related Terms
- Malaysia Property Types
Property Buying & Selling Articles
- Are you a Property Flipper or Keeper?
- Reasons To Get Into Investment Property
- Why Invest In Property In Malaysia?
- Selling Your Property
- Should You Buy Property Near An MRT Station?
- Top 10 Tips on Investing in Iskandar Malaysia
Property Renting Articles
Expat Articles/ MM2H
Property Buying and Selling Guides
Property Purchase Guide for Expatriates / Foreigners
That means 'Welcome' in the Malay (and official) language of Malaysia, and purchasing property here could be as easy as that greeting rolling off your tongue. Malaysia remains as one of the friendliest and hassle-free nations in the Asian region for foreigners who intend to acquire properties. It is also perhaps one of the most flexible countries when it comes to legal issues relating to the buying of properties.
Currently there is no limit on the number of residential properties that a foreigner can purchase. The entire buying process is the same as a local buyer, aside from several rules and restrictions. Here is a general guideline of the terms and conditions, but do seek a lawyer's advice about specific issues relating to the purchase of any property in Malaysia.
Land or properties located on land that has been designated as "Malay Reserve Land".
To acquire ownership of such land or property, it would be necessary for that land to be re-titled. This would involve the acquisition of land elsewhere (which is not Malay reserve) and getting approval to exchange with the other land.
To acquire ownership of such land or property, it would be necessary for that land to be re-titled. This would involve the acquisition of land elsewhere (which is not Malay reserve) and getting approval to exchange with the other land.
Low- and medium-cost properties determined by the State Authority.
Properties allocated to Bumiputera (Malay quota) as determined by the State Authority.
Land which is deemed agricultural land, unless it is over 5 acres and is being used for commercial purposes.
It should be noted that Malaysian law allows homes to be built on agricultural land designated "orchard land", providing not more than one building is constructed on each acre of land. These one-acre lots can be rented by foreigners but not purchased.
It should be noted that Malaysian law allows homes to be built on agricultural land designated "orchard land", providing not more than one building is constructed on each acre of land. These one-acre lots can be rented by foreigners but not purchased.
If you are planning to move to Malaysia under the MM2H programme and are placing a fixed deposit to qualify for the MM2H visa, then the date you purchase a property is important.
You will only be permitted to
withdraw part of your fixed deposit
(after it has been on deposit for one year) towards the purchase of your property if the SPA is dated after the issuance of your visa.
In summary
Malaysia is a great place for foreigners to set up their second home or find a property to invest because of the following reasons:
- Direct ownership
- Allowed to own freehold property
- Established commonwealth legal system
- Constitutional property ownership right
- Established banking system to fund foreign acquisition
- Workable purchase procedures
- Statutory protection for homebuyer
Sources
• Global Property Guide
• Malaysia My Second Home
* All data and information is correct at time of upload. These articles are for information and basic educational purposes only.
Consumer experiences may differ depending on location or other factors.
Consumer experiences may differ depending on location or other factors.
<< Back to main page