Living on a larger piece of land

Wow, same boat (sort of), but San Franciscan native with Malaysian wife wanting to consider spending half the year in Malaysia in early retirement.  We are in our 50s, no kids.  Also considering MM2H program.  My preference would be some land near the beach to build something for us and friends to use.

Penang is way too expensive I've found.  I've seen 1/2 acre plots for $500k USD!!!

Ok, figured so much since there are so many ex pats living there.  I suppose I can scale it back to just a nice home in a gated community near the beach.  The days of house flipping and teardowns to stud are probably behind me.  I wonder if prefab house building is popular over there.

Honestly I don't think it's the expats that drove up prices... it's likely mainland Chinese and wealthy Malaysians who find Penang to be the most desirable place to be.

Right, I have to remember that many folks are renting at that point in their lives.  I would probably rent too, but with wife's family already there in Malaysia I was hoping to have a place that my inlaws' or my siblings' future generations can use as their vacation/retreat spot.

This is the best real estate site I have found for Malaysian properties.
https://propertyguru.com.my

Thanks!  That website is pretty decent....

Do you know how strict the government or housing planning dept is about what type of housing structure one can put up on a piece of land?  I am assuming typical zoning heights and setback requirements are followed there, or not?

If I were to follow your lead and buy and build, would they be ok with a prefab or modular style home?

I have to assume the rules/regs are not as strict as it is here in San Francisco, but you never know....

No idea about that.  I'd imagine it depends which state in Malaysia you live.  I kind of doubt prefab homes are popular there given the labor costs are quite cheap.  It certainly would be faster and less hassle to go prefab. 

That being said...
https://youtu.be/v1eDkxn_ek8

Hi. I know of some land for sale in Kudat Sabah..really beautiful beaches there.

I am not over 50... so I cannot live full time in Sabah.  ;-(

teaslinger wrote:

Penang is way too expensive I've found.  I've seen 1/2 acre plots for $500k USD!!!

Rents for condos are low in Penang because it's a renters market. Cheapest in the south of the island cos the North is favoured by Expats and is the main tourist area.

Around Queensbay Mall rentals around 1k are available. Older condos in Tanjung Bungah or Miami beach cost about 1.5k as entry point.

With housing gluts and market correction, purchase prices are Sinking up to 20% bringing rental costs down too.

Everything is highly negotiable. Foreigners risk being fleeced with land prices as deals are done between locals.

However land is in short supply on the island because of its topography. But building costs are going to be quite low.

Need Mm2h before it's possible to buy land in Penang as its a privilege only offered to that category visa.

Elsewhere buying land without a structure is usually impossible. Property is on  State basis so lots of differences. Kuantan might be an option as well as Ipoh kinta valley

Langkawi will have more land available. But is basically a holiday island in a Muslim majority State. Check out FB group Live Tribe Langkawi as I saw ads recently. But purchase with care as some land can't be bought as its Malaysian Reserve property. Need a very good lawyer to get involved with this type of purchase.

With all due respects to American members Penang Island is tiny and it only takes about 90 minutes to drive around.

As suggested elsewhere check out Google Earth to get a correct perspective.

Landbanks were established decades ago which also causes a scarcity of available plots for purchase in Penang.

Thanks again for all the helpful advice.  It's good (for me) that Penang prices are coming down a bit.  It seemed pretty high.  I like Langkawi but not sure I would want to live there. The Malaysian reserve property is called "Bumi Land" right?

There are Bumi lots which can be converted to non-bumi and brought by foreigners. But Malaysian Reserve is not even for sale.

Ah OK... so not the same thing.  Thanks for explaining.