The questions below are those most frequently asked by purchasers of property in Malaysia. Below you will find some basic answers to your initial queries.
Yes, as overseas investment in property is actively encouraged by the government, foreigners can easily purchase real estate in Malaysia. Foreign owners are treated in the same way as Malaysian property owners and are protected by the same system of real estate laws. Foreigners are allowed to buy property to a minimum value of MYR 250,000 and you can buy up to two residential properties. Should you wish to purchase a third property, you need to apply for permission from the Foreign Investment Committee in Malaysia.
Malaysia offers a superb climate along with an exotic culture and its strategic location makes it popular with many Asian as well as European visitors. The Malaysian tourist industry is undergoing a growth period and has seen a great increase in tourist arrivals of over 160% between 2000 and 2005. As a result many new holiday homes and buy-to-let properties are being created on beautiful beach front locations such as Port Dickson. The cost of living and property prices remain very low in Malaysia and these properties offer great investment potential with a healthy 15 to 30% annual growth.
Meanwhile, the property market in the capital city of Kuala Lumpur is kept buoyant and strong by increased foreign investment in the form of wealthy expatriates seeking top quality residential and commercial premises in the city.
Malaysia is the Asian leader in terms of attracting interest from foreign investors, most of whom are from the Middle East. They see it as a viable and attractive emerging market with high medium term growth potential, within an economy that recorded a GDP expansion in the third quarter of 2006 of 5.8%. The government’s recent “Ninth Malaysia Plan” includes some impressive provisions for infrastructure improvement and general economic development, and analysts believe this will positively and directly affect the real estate market in Malaysia.
Malaysia has an elected constitutional monarchy. Today, it is a prominent member of the Association of Southeast Asian Nations (ASEAN) and is a politically stable country.
Malaysia has five international airports. Today there are many flights to chose from, departing from airports all over the UK. Below you can find links from your nearest airport to Malaysia.
Gatwick| Heathrow| London City
SW and Wales
Bristol| Cardiff| Exeter
Durham Tees Valley Airport| Humberside| Newcastle
Isle of Man| Manchester
Aberdeen| Edinburgh| Glasgow| Inverness
Belfast City| Belfast International
Cork| Dublin| Shannon
Guernsey| Jersey Apt
Airlines operating services to Malaysia include KLM, Qatar Airways, Sri Lankan Airlines, Kuwait Airways, Emirates, Gulf Air, Cathay Pacific and Malaysia Airlines.
Flying time direct to Kuala Lumpur from London is about 12 hours and 30 minutes.
British visitors do not need a visa to enter Malaysia. You may stay up to three months as a visitor, buy you are not permitted to take up paid employment in Malaysia. For periods over three months or to undertake paid employment, a work permit is required and this will be issued by the Malaysian Immigration Department.
A "Social Visit Pass" which allows foreigners to live in Malaysia and come and go for five years as long as they have deposited in a bank in Malaysia either a minimum of RM 100,000 (£14,500) or they draw a monthly income of over £1,500 from an overseas source. Further details are available on www.imi.gov.my.
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