Buying property in Malaysia

Hi Christine,

I am May here. Foreigner are allow to purchase a property in Malaysia but the purchase price have to be RM500,000.00 above.

And a foreigner have to apply for State Authority Consent has well (this process will be done by your lawyer)

Hi May,

Welcome to Expat.com!

Thank you for your help.

are you planning to live in malaysia

Hello darulehsan, the questions of Christine are meant to help our members.

Harmonie.

Yes,foreigners can buy individually on their names providing value of property is not less then RM;500k (15 years ago was not less then 250k) If you form a company SDN BHD then you can able to buy lower price,your company secretary will inform you the detailes.

I am selling my property now RM 265k At the Kristal Court Robson hight near Chinese temple that Apartment I bought 15 years ago and I am having a tenant constantly because of the location.

Yes foreigners can buy property in Malaysia. The minimum amount you have to spend depends upon the state you live in. Here in Penang the minimum is RM250,000 and in Perak it is RM350,000. Elsewhere it goes up to RM500,000. The process is not that complicated.

I have been living here in KL for last 5 yeas now and April 2011 I started my process with a 2% payment. this property is in Kemuning Utama and costed me 560 K. My current status is Selangor State Consent was out 2 weeks back and communicated to the lawyer. They are now working with my BANKER Standard Chartered to do the financials. Hopefully, I will have the keys officially in mid FEB.
Thus, it was about 1 year to complete the process. However, the process was on hold for 3 months as the Builder couldn't release the TITLE since the same was with MAYBANK, from where the builder took the loan.
I'm quite happy as the same property is now going with transaction price @ 640 K.
With this purchase, I have a good experience on where to buy, what is the right VALUE of the property, which BANK to approach, the processes with a timeline, how to manage the lawyers. These processes would require multiple lawyers and managing them is a big task. Hope I did it well as I got my job done with NO conflicts and all are happy.
If you need further info, just drop me a line ay Dave.Banerjee@live.com or Call 017.331.4676

Hope this helps.
Dave.