malaysia property set for a very bright decade in terms of foreign demand
News Posted On: 19 January 2010
Malaysia property looks set to have a very bright decade (if anyone knows what they are gonna call the decade after the noughties then send us a postcard) as professionals from Britain and around the world seek a move into the world's growth region and quickly find that Malaysia offers the lowest level of culture shock.
Malaysia is an ex-British colony, which gives the country a whole host of benefits for that buyer group, including:
- All contracts are in English and the buying process is very similar to that of Britain
- Foreigners are allowed to buy luxury property, above the equivalent of £50k at current exchange rates
- Foreigners are automatically granted residency when they buy a property
- Finance is readily available for foreigners, from Malaysian banks like Maybank, and from British and European banks who have also found Malaysia a welcoming place for foreign habitation and enterprise
- The health service is world class
- The tax regime is favourable for buying property
The kind of property that foreigners are able to buy, is far bigger and better than they could afford at home, especially for young professionals emigrating from Britain, and especially from London. For that reason the levels of demand for Malaysia property, which has continually risen for several years, and suffered only a knock last year, will continue to grow.
Unfortunately for buyers, Malaysia's government has always been careful not to allow the formatin of asset bubbles, and for that reason property prices never crashed in Malaysia. None the less there are still some good offers of incentives if one chooses carefully.
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