Real Estate & Legal News in Malaysia from Propertyshowrooms.com

Foreigners 'may see minimum Malaysia property price rise'

Thu, 12 Apr 2012 00:00:00 GMT

The Malaysian government is considering proposals to increase the minimum floor price charged for houses bought by foreigners.

Currently, overseas buyers have to spend at least RM500,000 (£102,814) but this could potentially climb to RM1 million, according to a government source.

The move is just one measure being contemplated by officials to help control the rising cost of buying real estate in Malaysia.

In its most recent Global House Price Index, Knight Frank revealed the value of properties in Malaysia increased by 6.6 per cent between the final quarter of 2011 and the same period a year earlier.

Meanwhile, deputy finance minister Donald Lim recently asserted price hikes of between ten and 15 per cent are "healthy".

Another anonymous source also told the press the government would reserve the right to review the base price for foreign buyers and potentially reduce it in certain regions. Any future alterations would largely be influenced by national inflation levels, the informant added.

Penang property prices rise

Thu, 4 Aug 2011 00:00:00 GMT

Real estate values on the Malaysian island of Penang have increased rapidly since the introduction of new legislation, it has been revealed.

Speaking to Star Property, deputy chairman of the state Barisan working committee Datuk Zainal Abidin Osman claimed that the state government's decision to raise land premium rates had caused property prices to go up.

"When the state government increases the premium as it wishes, the developers are forced to increase the value of the houses. It is a simple cause-and-effect factor," he commented.

Last month, a panel of experts at the Star Property Fair 2011 all agreed that the housing market in Penang is likely to grow over the course of the year.

Chairman of the Real Estate Housing Developers Association Datuk Jerry Chan noted that there is "a lot of confidence" in the sector on the island, adding that there are local and foreign buyers who want to invest in property in Penang.

Review housing laws to protect buyers, says lawyer

Thu, 11 Sep 2008 00:00:00 GMT

Review housing laws to protect buyers, says lawyer Kota Kinabalu: The Government has been urged to urgently review present housing laws because house buyers in Sabah are at the mercy of developers...

Malaysia "best place to invest" in south-east Asia

Tue, 21 Aug 2007 00:00:00 GMT

Malaysia offers overseas property buyers the best investment opportunities, according to one expert.

Marsha Lu, head of the legal, diligence and compliance department at Property Frontiers, claimed that while Malaysia has not been as popular as Thailand in the past, the latter has experienced political instability recently.

Arguing that Malaysia is presently "the best place to invest", Ms Lu said that the country has recovered well from the Far East financial crisis in the 1990s, compared with many other states in the region.

"From an investment environment point of view, the government's very welcoming for investors," Ms Lu stated.

The government has abolished capital gains tax, which is expected to make a "huge difference" for investors, she added.

Tan Sri Liew Kee Sin, managing director of SP Sertia, recently told the Malaysia Star that the country's government should do more to create a "favourable" business climate.