The Malaysian government is known for being one of the most receptive to foreign property investors, responsible for a whole host of incentives and initiatives aimed at increasing foreign investment. But the latest proposal is perhaps the most ambitious. Launching a major new joint public and private sector initiative, the Malaysian government has said that it wants to make Malaysia an international property hub.
"The idea is to make Malaysia a destination for foreigners to buy properties," Minister Datuk Seri Effendi Norwawi in the Prime Ministers department told StarBiz. "Property prices here are so much cheaper than in places such as London and Singapore," he continued "we should show that we have real value for money."
Existing incentives for foreigners to buy Malaysian property include no capital gains tax, no inheritance or gift tax, and granting immediate residency to foreign property owners. Finance is also readily available for foreigners. Head of international research for DSR said:
"Details are few and far between as to what the new initiative will involve; Malaysia is already one of the most foreigner friendly property investment destinations in the world. Legal documents and contracts being in English, as well as the legal system being almost exactly the same as Britain's make it particularly easy for Britons, and only slightly less so for English speakers from other countries. So, perhaps the government intends to add incentives for discounted translation services, or translate documents into the buyer's nationality for a nominal fee, or perhaps no fee at all. Beyond that, my guess is as good as yours."
DSR currently have some excellent property in Malaysia; two off-plan properties in Kuala Lumpur, and one off-plan property in Sabah, Malaysian Borneo.
In Sabah, the Nexus Residencies are the perfect holiday home or investment. Holiday buyers will enjoy being in the lap of luxury, in a luxury villa with sea-views on a fully equipped and award winning five star resort, just a 2 min walk from the gorgeous Sabah beach. Holiday home and pure investors will enjoy all the above, as well as the 7% guaranteed rental yield for the first 5 years, and the expected 15%-20% growth forecast for tourism driven areas like this within Malaysia. Prices start at £115,000 for a 1 bedroom Nexus Villa, and 70% LTV finance is available through Maybank, Malaysia's largest bank.
The Crest is aimed at the flood of international investors flocking to the growth potential of the expanding Metropolis that is Kuala Lumpur, but KL is also without doubt growing into one of the most vibrantly beautiful and ultimately worth visiting capital cities in the world. So with 70% LTV finance available on 2 bedroom Crest apartments priced from just £165,000 and only 5 minutes from KL city centre, they can't be ruled out as holiday homes either.
Find out more about property Malaysia and buying property in Malaysia.
About DSR Asset Management Ltd
DSR is an overseas property investment specialist, working directly with developers in more than forty countries. All properties are exclusive to DSR , giving an unparalleled selection of resale and new builds.
Please direct all media queries, requests for press information and editorial details, to media@davidstanleyredfern.com
David Redfern is the director of DSR Asset Management Ltd an overseas property investment specialist. David works closely with developers in more than forty countries and oversees the DSR education programme which lectures individuals and organisations on property investment.
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