Thursday, 12 December 2013

Info About Malaysia Property and Real Estate-Find Malaysia Real Estate to Buy



Would you like to buy Malaysia property? On this site, you will see listings for many Malaysia property and real estate offerings. You can find the perfect plot of Malaysia real estate for you

The best Malaysia real estate is featured here. If you want to invest in Malaysia property and real estate, look through our listings. We make it easy for you to buy Malaysia property.

At any given time, there are a huge number of Malaysia property and real estate listings available to interested buyers. Our goal is to showcase the very best Malaysia real estate offerings in one place. If you have been thinking about purchasing a plot of land in this nation, there is no time like the present. On this page, you can learn more about a wide range of properties. Get in-touch with us if you are serious about trying to buy Malaysia property in the near future. We will work with you to find Malaysia real estate that is perfect for the project you have in mind.

Sunday, 8 December 2013

Malaysian Properties appears to be more attractive to Foreigners buyer

Malaysian Properties appears to be more attractive to Foreigners buyer

For foreigners intending to buy a home, Malaysia remains one of the most friendly and hassle-free nations in the region when it comes to acquiring properties.



As a nation, we have introduced policies that are friendly towards foreign property investors in Malaysia, especially so with the Malaysia My Second Home (MM2H) scheme, which comes with plenty of benefits for non-Malaysians buying homes here. At the same time, Malaysia is also perhaps one of the most flexible countries when it comes to legal issues relating to the buying of properties by foreigners in the region. 

Foreigners can buy any type of properties here, be it condominium, bungalow or even land, as long as it is priced above RM1million, effective from 1 Jan 2014. The buyer can buy both residential and commercial property in Malaysia, in his or her name, or under a company.

A non-Malaysian buyer must also obtain the state authority’s consent before a property can be transferred; this usually takes anywhere from six weeks to six months (in Kuala Lumpur, this typically takes one to two months).
 

Apart from that, the entire buying process is the same as a local buyer. Interestingly, if the foreign buyer is not residing in Malaysia, he or she can sign the sale and purchase agreement at the Malaysian High Commission in their country of residence.
 

As for financing, Malaysian banks and foreign banks in Malaysia do provide loans to foreigners. They will typically finance up to 70% or 80% of the property price, and this is quite a bargain compared to other countries.

The restrictions are quite minor for non-Malaysians intending to buy a property here. Naturally, they are prohibited from buying properties that are valued less than RM1million as at 1 Jan 2014. Non-Malaysians are also prohibited from buying properties built on Malay reserve land, and those allocated to Bumiputra interest.
 

Let us look at the other countries in the region:


Singapore

In Singapore, non-Singaporean property buyers are only allowed to buy limited types of flats and condominiums without the need for approval. However, there are two important criteria for assessment:

•    Must be a PR of Singapore
•    Contribute financially to Singapore
 

Unfortunately, most of the properties are categorised under restricted residential property, thus foreign buyers must obtain approval for purchasing these properties. What are the restricted residential properties? They include:

•    Vacant land
 
•    Landed residential property, such as bungalows, terrace houses, semi-detached houses
•    Residential property in a building of less than six levels
•    A Housing Development Board (HDB) shop-house
•    A HDB flat purchased directly from HDB
•    A resale HDB flat where HDB has consented to the sale
•    Executive Condominium bought under the Executive Condominium Housing Scheme Act, 1996

Indonesia

A foreigner cannot own land in Indonesia. However, a foreigner can only acquire the leasehold title to a building – however, the title only lasts for 25 years with an extension of 30 years for a maximum of 55 years and then it reverts back to the original owner.

Alternatively, a potential non-Indonesian buyer can set up a 100% foreign own company, but is only allowed to acquire property for only 25 years and is subject to renewal.
 

China

China is set to tighten restrictions on foreign real estate investment, according to a statement from the Chinese Ministry of Commerce (MOC) early last year. The MOC, has asked local authorities to increase supervision on property investment involving foreigners and strengthen risk controls on the real estate sector.
 

He noted that the statement stipulates that foreign funded developers will not be allowed to make profits through the buying and reselling of real estate projects. It is noted that laws and procedures in China and for each state are neither simple nor transparent.

India

The Indian law states that non-Indians who reside outside of India cannot purchase property. A foreigner who is a resident in India may purchase property, but must obtain the approvals and fulfil the requirements, if any, as prescribed by the local authorities.

South Korea

Language is an issue in South Korea. For foreigners who do not have a comprehensive understanding of the Korean language, activities involving the purchase and sale of significant assets will be a challenge. Another issue concerns the remittance of revenue or profit from a property in Korea, which is not allowed unless the property is acquired through a stock company.
 

Thailand

The country prohibits foreigners from owning freehold property. The procedures are complicated and added that apartments can be purchased by foreigners as long as at least 51% of the building is owned by Thais.

Summary

In summary, we conclude that Malaysia is a great place for non-Malaysians to set up their second home or find a property to invest:

•    Direct ownership
•    Able 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


Check out www.youproperty.com.my for Malaysia's latest property listings.

Saturday, 7 December 2013

Malaysian Condominium living with pets

Malaysian Condominium living with pets
With pet owners representing a significant portion of the population, furry, four-legged friends are factoring heavily into the decision to buy a condo in Malaysia. With increasing in number of households enjoy the companionship of a pet, there’s a high level of demand for pet-friendly housing, including strata properties.

Unfortunately, many condos, apartments, flatin Malaysia have house rules which stipulated No Pets allowed within the unit and anywhere in the compound.

Some condos house-rules have used strong words, for example:

VISTA KOMANWEL CONDOMINIUM HOUSE RULES & REGULATIONS

1.2.4 Household Pets and Livestock
(a) No rearing of pets, livestock and other animals including poultry, birds etc are allowed both within the Condominium Units or kept in any part on the Building or perimeter of the Common Property.

(b) The Management reserves the right to remove any such pets found within the Building at the pet or livestock Owner's/Resident’s expenses.

There are also some condos house-rules with more vague wordings, which often suggested “calm and good pets are okay”.

11.6 No Owner/Resident may keep any animals which may cause annoyance to other residents. The Management, at its discretion, reserves the right to remove such animals within the Complex at the Owner's expense.

Pets are good for us
Petcare Information and Advisory Service Australia Pty Ltd (PIAS) found that pet owners enjoy better mental health, lower blood pressure, and higher satisfaction with home life. Communities where people walk their dogs have a lower incidence of violent crime and a higher perception of neighbourhood friendliness.

Pet-friendly strata properties attract more people and have lower turnover rates and higher profitability. And communities that work together, talk regularly and create more opportunities to socialise are much healthier communities.

We understand there are some properties that simply do not want pets in the building and this is, of course, fine.



Check that rulebook
Before you bring in your animal friends it’s very important to check the property by-laws or rules. And don’t think that just because Fido is cute and doesn’t bark (much, ever) that everyone will turn a blind eye and allow him to stay.

If the strata scheme by-laws or rules clearly says no pets, then that’s what it means. Breaching this could mean a fine for you and a new home for Fido.

The pet application forms are not meant to change people’s minds or their by-laws or rules. They’re meant as a way of helping those apartments, which may welcome pets or may be considering allowing pets, to assess the situation and of course to encourage owners to seek permission from their building’s governing body in the first instance.

The forms are a way of helping people living in strata to be responsible pet owners, while at the same time encouraging more pet-friendly apartments.

Be a smart owner
The key is for pet owners to be able to demonstrate they’re responsible, and for some strata schemes to re-consider whether their pets policy meets the changing needs of modern lifestyles.
It may be that residents’ wants have actually changed since the building was first built, and this should be considered.

Owners must also be conscious of the history of a building too. New owners should never expect for it to be a matter of submitting an application and having it accepted. Some people have specifically chosen buildings based on no pet policies, and these opinions might not change overnight, no matter how responsible the new pet owners are.

The key is for pet owners to be able to demonstrate they’re responsible.


More Japanese opt to live in Malaysia

PETALING JAYA: The Japanese have overtaken Iranians in making Malaysia their second home, snapping up properties in the Klang Valley and other urban areas.
According to the Malaysia My Second Home Centre, Japan has been the top participating country since last year, when the country was hit by a tsunami and a nuclear crisis in Fukushima.
Malaysia's political stability and economic growth are said to be a big draw.
MM2H statistics showed that the number of Japanese applying to participate in the programme doubled from 195 in 2010 to 423 last year. A total of 787 Japanese applications were approved from 2009 to last year.
The Chinese jumped to second place last year, with 405 applications approved.
The Iranians, who topped the list from 2008 to 2010, dropped to third place last year and fourth this year, below the Bangladeshis.
As of March, 18,090 foreigners have successfully applied to participate in MM2H.
The rise in Japanese applicants followed the announcement of Tourism Minister Datuk Seri Dr Ng Yen Yen in late 2010 that Japanese senior citizens were welcome to make Malaysia their second home.
She had said the number of Japanese aged 65 and above was increasing, and living in Malaysia was ideal due to its strategic location, advances in medicine and cheaper living costs.
Real Estate and Housing Developers Association president Datuk Seri Michael Yam said Malaysia, as part of its Look East policy in the past few decades, had focused on making living here convenient and comfortable for the Japanese.
This, he said, included the setting up of a Japanese School in Kuala Lumpur in 1966.
The school is the fifth oldest Japanese school overseas, with spacious premises that include a kindergarten and primary and secondary schools.
Such initiatives had helped to build a cordial relationship between the two countries, Yam said, adding that there were many Japanese investors in Malaysia today.
“These people used to work in Malaysia. When they went back, they probably thought that this is not a bad place to have a second home, especially since it is one of the cheapest places to live in,” Yam said.
He noted that Malaysian condominiums now incorporated a “sprawling lifestyle complex” approach, which includes amenities such as big swimming pools and tennis courts.
“You get good value for money, which you don't necessarily get in other countries, which are more densely packed,” he said, adding that Mont Kiara, which is popular among expatriates, was one of the biggest Japanese enclaves in the country.
According to the Japanese Embassy, the earthquake and tsunami which happened in March last year were another “push factor”.
Japanese Ambassador Shigeru Nakamura said there were about 1,000 couples who have made Malaysia their second home.

MALAYSIA PROPERTY REVIEW: Upcoming launch : Nadi bangsar by Hap Seng Land

Condominium in Mont Kiara and Condominium in Bangsar area are usually among hotspots for expats and foreigners.

Friday, 6 December 2013

Foreigners can buy Malaysian properties worth RM1 million or more, double from now

MALAYSIA'S government has doubled the minimum value of properties that foreigners could buy to RM1 million (S$391,310), from RM500,000 currently.
Announcing this when presenting the 2014 Budget, Prime Minister Najib Razak said this was among a slew of measures being implemented to temper the sharp rise of homes in the country.
He said foreign buyers of Malaysian properties would have to pay 30 per cent in real gains property tax (RPGT) if they were to sell their units before five years.
The tax is at 5 per cent if the unit is sold after that period.