Properties in Malaysia
Property investment in Malaysia tends to be centred in the capital of Kuala Lumpur, and its suburbs. Well known developers such as Tropicana, UEM Sunrise and 101 Properties have a strong and reliable track record, for safety and quality build. However, significant investments from China into the development the ports for Malacca and Johor has boost new territories into this evergreen asset class.
Based on the Worldbank rankings, Malaysia ranks 24 among its neighbours for the ease of doing business. When it comes to property law, English Tort law continues to be the main foundation, and the process is quite similar to Australia and UK property transactions.
Off-plan transactions continue to be more popular, partly from the centralised distribution channels that developers use, and partly from the simple fact that we all like 'NEW'! If you are not able to attend the roadshows in person, a simplest way is to use a central website, manned by agents, to discuss the options available.
When you decide to go ahead, the expectation is pay a 10% down payment, legal fees, stamp duty, valuation fees, just to name a few (approximately 15% of the property price) by bank transfer. At that point you have to check you can make interbank transfers in Ringgit terms from your local bank accounts and keep tabs on progress.
The Malaysia property market is also supported by a strong domestic investor base, with long-term holding power, so off-plan developments can still be the fastest way to access prime opportunities.
If you are looking to secure a piece of ASEAN with relatively stable demographics, economic growth and English-speaking culture, Malaysia should make your top 3 list of destinations.