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KLCC Malaysia Property

Investing in Kuala Lumpur City Center (KLCC) Malaysia properties has become popular with overseas investors looking for returns and stability not available in their own country.

When it comes to investments, there are a lot of options – businesses, the stock market and properties. However if you want a low risk profitable investment, choices are limited.

Stability

Malaysia’s property market has a proven record of stable prices. Overseas property markets such as Hong Kong or the USA have suffered significant crashes that are completely unheard of in Malaysia. Housing prices in volatile economies can drop up to 70% within a few weeks, leaving investors with huge losses.

Since 1990 when records began the Malaysia market has not suffered a fall in median house prices over 20% in one year. This is true even the Global Financial Crisis of 2009 / 2010 which saw property prices in the UK and USA fall significantly. Malaysia houses actually increased in value during this period.

Strong growth performance

KLCC Malaysia properties have enjoyed consistent capital growth over the last 50 years, with property prices doubling roughly every 7 to 10 years.

One of the reasons behind the growth is Malaysia’s chronic housing shortage in many of the major cities. Population is growing in a rate much faster than dwellings are being constructed.

Malaysia is a great place to live

Kuala Lumpur City Center (KLCC), Malaysia is well known for its diverse international cities and breathtaking natural beauty.

Being one of the cheapest property prices in Asia with good growth amidst a resilient economy. Property prices still growing despite worldwide slow economy, KLCC properties area price appreciation is between 5% to 10% for the last 2 years. Besides living cost is relatively low, Malaysia property offers stable rental income rental for last 2 years between 4 to 5% per annum.

Another recent boost for Malaysia with recent ranking being the top 6th country in the world as the most easiest and friendliness in doing business by World Bank! It has jumped from previous year’s ranking of 16, this proof Malaysia truly on track on its economy transformation and able to poise a place of investment welcoming foreigners![Complete info on Business Investment by Foreigners at www.MalaysiaBizAdvisory.com]

Stability and growth are not just features of residential houses, townhouses and units. Most commercial properties such as offices, factories and retail outlets have proven themselves to have excellent returns. Larger foreign investors tend to prefer commercial property, resorts, hotels or developments.

Thinking of investing in Malaysia? Call us on +6 016 203 4402 from outside of Malaysia) to speak to our specialist real estate agency who can guide you through the application process. Call us today!

Malaysia My Second Home Programme (MM2H Programme)

MM2H Programme is promoted by the Government of Malaysia to allow people from all over the world (except Israel, Yugoslavia, Serbia and Montenegro) who fulfill certain criteria, to stay in Malaysia as long as possible on a social visit pass with a multiple entry visa. The Social Visit Pass is initially for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable.

4.1 Benefits (House purchase)

  • A foreigner may get loan up to 80% (normally for foreigner is 60%);
  • 100% registered as owner of property;
  • Upon selling, there is no Capital Gain Tax.

4.2 Procedure for Acquisition of Properties under MM2H

  • Identify the property in which the participant intends to acquire.
  • Buy properties that have been issued the Certificate of Fitness (CF).
  • Seek information on the property from relevant authorities (land office, local authorities)
  • Assign a lawyer and get the Sale and Purchase Agreement signed.

4.3 Documents Required

  • Details of the property that is desired.
  • Attach copy of Sale and Purchase Agreement, master title/strata title, passport or I/C or/and relevant documents deemed necessary.
  • Covering letter.

4.4 Conditions

  • Value of property > RM 500,000 (other states)
  • Value of property > RM1,000,000 (Selangor & Kuala Lumpur)
  • Value of property > RM 350,000 (Sarawak)

4.5 F.A.Q (Extracted from http://www.mm2h.gov.my/faq.php)

  • Do the participants have any special entitlements?
    All participants are allowed to purchase residential properties at the minimum purchase price for foreigners established by the respective state governments. The current minimum price (January 2010) is RM500, 000.00 for most states.
  • Can I purchase a house for residential purpose and a shop lot to be rented out?
    No, you are only allowed to purchase residential properties.
  • Do I have to pay the yearly assessment and quit rent for my houses like the locals?
    Yes.
  • In the event of unforeseen death is the participant able to hand over his Malaysian assets to any of his beneficiaries smoothly. Does the Government have any restriction on this matter?
    No. Participants may transfer their property to their next-of-kin provided they have made a will to this effect. In the event of lack of documentation, the next-of-kin may claim the inheritance upon proof of identity and kinship.
  • Must foreigners buy new Malaysia property only, such as from developers, or can they purchase any property, such as from individual owners (second hand or third hand property)?
    Participants can purchase any type of housing properties provided that they have been issued with CF (Certificate of Fitness).
  • Do I need to obtain prior approval from Foreign Investment Committee (FIC) for the purchase and sale of my house?
    Participants under this programme are not required to obtain prior approval for the purchase and sale of houses from FIC. However, they must write to the Ministry of Tourism giving details of the house (location as well as price) so that a letter can be issued to them certifying that they are eligible to purchase the said property under this programme. In addition, they are required to send a copy of the approval letter obtained from the respective State Authority which has authorized the purchase or sale of the property concerned to FIC for information.
  • Can I keep pets in my condominium?
    The By-laws of the Strata Title Act state that a parcel proprietor is NOT ALLOWED to keep any animal in his parcel or on the common property which may cause annoyance to any other proprietor.

For more information, please log on to http://www.mm2h.gov.my

Note: Person or parties responding to our property ads are not required to pay any real estate agency fee whatsoever for properties referred to in this as this firm is already retained by particular principal.

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KLCC Real Estate Agency
Residential, Land and Commercial
HATTA AND ASSOCIATE
No.23-2, Jalan 9/23E,
Taman Danau Kota,
53200, Setapak,
Kuala Lumpur.

Phone: +6 016.203.4402 (Mr. Cmi)

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