that's a very subtle way of putting it, LOL.
KL Property Market - where is good?
- Thread starter Craiginqatar
- Start date
that's a very subtle way of putting it, LOL.
Bottom line is there is money to make.
And given right investments - you can make capital gains
there are hundreds of foreigners buying in the KL and Mont kiara area - with the malaysian 2nd home scheme... making it virtually a place to invest. if you invest, you get the perks etc. ablity to open a business etc.
More upside than downside if you ask me.
And given right investments - you can make capital gains
there are hundreds of foreigners buying in the KL and Mont kiara area - with the malaysian 2nd home scheme... making it virtually a place to invest. if you invest, you get the perks etc. ablity to open a business etc.
More upside than downside if you ask me.
horses for courses - agree to disagree please?
this could be like a "buying in malaysia thread" like the boholt thread.
this could be like a "buying in malaysia thread" like the boholt thread.
The riot happen in May 13 1969 not in 1950s, Malaysia got independence from British in 1957.
I think that if the malay get what they want and the other races tolerate, i think it will be ok. In Indonesia, Chinese don't have Chinese name they adopt Indonesian name, and they restrited in alot of espect in life such as building temple and because they accept to integrate into Indonesia socialty, they got the same right as the Indonesian have, and hence Chinese do far more better (wealth) than the Indonesian, and spark some jeolousy from the Indonesian against Chinese, but not Malaysia. Other races got their identity to exchange to Malay got thier piority.
My mum live half of her life in Malaysia, and she had no problem with all the thing happen (including 1969 riot) in her life. And she doing so well in property
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End of the day it's about making money. Other issues are all irrelevant. i think malaysia has potential and i suppose everyone to their own.
Kl
Penang is cheaper and more laid back, but we prefer to live in KL. Penang has a LOT of condos and I would be very careful about purchasing there due to the quality of the buildings and a oversupply. There is a minimum purchase price of RM500k ($170K) for foreigners...
Bobby
Penang is cheaper and more laid back, but we prefer to live in KL. Penang has a LOT of condos and I would be very careful about purchasing there due to the quality of the buildings and a oversupply. There is a minimum purchase price of RM500k ($170K) for foreigners...
Bobby
i'm no big fan for penang either - prefer the KL city as opposed to the laid back penang. Like i said ... i know a few people who couldn't move their property.
Kl
Yeah, and they are building them all the time. Some of the Chinese owners sight on their properties for Capital Gain and stories from real estates agents say they have condos on their books that haven't had a tenant in 10 years !!!!
Here are some links on taxes in Malaysia...
1). http://www.mida.gov.my/en_v2/index.php?page=personal-income-tax
2). http://www.publicmutual.com.my/documents/MARKETING/Tax_Incomeexemptfromtax.pdf.
3). http://www.lawyerment.com/library/kb/Tax/Personal_Tax/
4). http://www.lawyerment.com.my/boards/
Bobby
Yeah, and they are building them all the time. Some of the Chinese owners sight on their properties for Capital Gain and stories from real estates agents say they have condos on their books that haven't had a tenant in 10 years !!!!
Here are some links on taxes in Malaysia...
1). http://www.mida.gov.my/en_v2/index.php?page=personal-income-tax
2). http://www.publicmutual.com.my/documents/MARKETING/Tax_Incomeexemptfromtax.pdf.
3). http://www.lawyerment.com/library/kb/Tax/Personal_Tax/
4). http://www.lawyerment.com.my/boards/
Bobby
whereabouts have you purchased bobby in malaysia?
Kl
I haven't purchased here. It is always cheaper to rent than own if there is no Capital Gain. We live near Jalan Ramlee (KLCC) and there are a number of places I like, including Langkawi, Malacca and Penang but they are bit "sleepy".
I agree with what you are saying about money being made in some areas but I don't want to take any risks. I will always be a tourist or a guest to the Malaysians or someone to rip off...
Bobby
I haven't purchased here. It is always cheaper to rent than own if there is no Capital Gain. We live near Jalan Ramlee (KLCC) and there are a number of places I like, including Langkawi, Malacca and Penang but they are bit "sleepy".
I agree with what you are saying about money being made in some areas but I don't want to take any risks. I will always be a tourist or a guest to the Malaysians or someone to rip off...
Bobby
From what I've read, Malaysia seems to be an opportunity in the near future because of a change in policies. I still don't know enough so a bit risky for me.
If you are more open to other ideas/opportunities you might want to look at the Philippines. Most properties there are cashflow positive because most people there would rather rent than buy.
Kl
My husband and I purchased a freehold apartment in a condo in a predominantly Chinese suburb located near KL’s Mid Valley Mega Mall. We bought just prior to the minimum purchase price for foreigners doubling to RM500,000.00 in the majority of states and federal territories.
Our purpose in buying the Unit is as part of a semi-retired lifestyle between Perth and KL. I have been visiting and staying for extended times in Malaysia since the late 1970s. We enjoy travelling and KL is a great base from which to visit other parts of the world. Living in KL itself is stimulating. The climate suits us. We do not engage much with expats. I subscribe to the ExpatKL magazine which contains some useful information on property issues and undertakes regular longitudinal research of expats on a range of factors. Some of the expat forums also give insight to property matters.
Apparently, our unit has increased in value over the relatively short time we have had it, possibly by RM100,000.00, consistent with media reports of property increases in KL.
However, despite this capital gain, I would not be comfortable investing more than what we already have for property in Malaysia.
We follow the political situation closely via English language mainstream newspapers, on-line media, academic analyses and conversations with locals. On the surface Malaysia presents as a modern multicultural nation based on a British legal system within a constitutional monarchy that enshrines religious and racial plurality. Internationally, the Prime Minister receives considerable attention promoting Malaysia as a successful nation, economically and socially, practising a moderate form of Islam in a harmonious and stable society. A key economic goal remains the attaining of ‘developed country’ status by 2020.
However, under the surface, there is undoubted disharmony. The Malaysian political economy, the institutional weaknesses and the increasing authoritarianism of Malaysia’s form of Islam are all complex and potentially divisive. Racial and religious intolerance is in my opinion becoming more prevalent, even quite overt at times. As noted in earlier posts, certain ethnic groups are leaving, depleting Malaysia of talent, skills and money. Australia benefits from these immigrants to Malaysia’s great cost. I consider that these briefly stated factors have raised doubts in my mind as to Malaysia’s present capacity to manage these issues in any mature manner. More probably the present government will continue to roll along in its inimitable way.
Nevertheless, it’s on the basis of these happenings that we are reluctant to increase our present investment there.
My husband and I purchased a freehold apartment in a condo in a predominantly Chinese suburb located near KL’s Mid Valley Mega Mall. We bought just prior to the minimum purchase price for foreigners doubling to RM500,000.00 in the majority of states and federal territories.
Our purpose in buying the Unit is as part of a semi-retired lifestyle between Perth and KL. I have been visiting and staying for extended times in Malaysia since the late 1970s. We enjoy travelling and KL is a great base from which to visit other parts of the world. Living in KL itself is stimulating. The climate suits us. We do not engage much with expats. I subscribe to the ExpatKL magazine which contains some useful information on property issues and undertakes regular longitudinal research of expats on a range of factors. Some of the expat forums also give insight to property matters.
Apparently, our unit has increased in value over the relatively short time we have had it, possibly by RM100,000.00, consistent with media reports of property increases in KL.
However, despite this capital gain, I would not be comfortable investing more than what we already have for property in Malaysia.
We follow the political situation closely via English language mainstream newspapers, on-line media, academic analyses and conversations with locals. On the surface Malaysia presents as a modern multicultural nation based on a British legal system within a constitutional monarchy that enshrines religious and racial plurality. Internationally, the Prime Minister receives considerable attention promoting Malaysia as a successful nation, economically and socially, practising a moderate form of Islam in a harmonious and stable society. A key economic goal remains the attaining of ‘developed country’ status by 2020.
However, under the surface, there is undoubted disharmony. The Malaysian political economy, the institutional weaknesses and the increasing authoritarianism of Malaysia’s form of Islam are all complex and potentially divisive. Racial and religious intolerance is in my opinion becoming more prevalent, even quite overt at times. As noted in earlier posts, certain ethnic groups are leaving, depleting Malaysia of talent, skills and money. Australia benefits from these immigrants to Malaysia’s great cost. I consider that these briefly stated factors have raised doubts in my mind as to Malaysia’s present capacity to manage these issues in any mature manner. More probably the present government will continue to roll along in its inimitable way.
Nevertheless, it’s on the basis of these happenings that we are reluctant to increase our present investment there.
Scobie, thanks very much for your assessment of the situation. Very interesting to hear what's going on from an expat point of view - and also slightly worrying. Does the intelligentsia or other sector propose a possible solution to arrest this trend? Or are they just leaving? I would love to spend more time in Malaysia in the future, but no 'golden passport' will entice foreigners to move into a volatile, or potentially repressive, political climate.
there is always talk about social and religious issues - but end of the day - i would rank it safer than living say in jakarta, bali, manila or vietnam.
either way - it's still booming - more infrastructure and more developments in terms of transportation etc.
either way - it's still booming - more infrastructure and more developments in terms of transportation etc.
KL Property Forum
Try this site for information about the property market.
http://www.realestate.net.my/forum/
Try this site for information about the property market.
http://www.realestate.net.my/forum/
Malaysia
Hi Scobie
I have been reading your post with interest; it is my intention to spend a part of the year in Singapore (where i have family) and Malaysia when i retire
I know there is a scheme "Malaysia your second home" to encourage foreigners to invest and stay legally in Malaysia.
Would you care to share typical living costs in Malaysia?
eg. rental costs (condo in KL surrounds/Penang/Johore); food ; medical etc PER MONTH?
I know it is difficult but any info would help!
thanks
Hi Scobie
I have been reading your post with interest; it is my intention to spend a part of the year in Singapore (where i have family) and Malaysia when i retire
I know there is a scheme "Malaysia your second home" to encourage foreigners to invest and stay legally in Malaysia.
Would you care to share typical living costs in Malaysia?
eg. rental costs (condo in KL surrounds/Penang/Johore); food ; medical etc PER MONTH?
I know it is difficult but any info would help!
thanks
Hi Scobie
I have been reading your post with interest; it is my intention to spend a part of the year in Singapore (where i have family) and Malaysia when i retire
I know there is a scheme "Malaysia your second home" to encourage foreigners to invest and stay legally in Malaysia.
Would you care to share typical living costs in Malaysia?
eg. rental costs (condo in KL surrounds/Penang/Johore); food ; medical etc PER MONTH?
I know it is difficult but any info would help!
thanks
rental condos can range from like AUD500-5000 depending on which areas in KL and what towers. Food is pretty cheap average meal is like AUD3 per person with drink. Medical pretty cheap what would cost like AUD1K medical checkup here would be around AUD200.
Cars - expensive due to the tax however you can bring in 2 cars tax free under the scheme. 10% capital gains tax on property sales. Cons - very buzy on the road and constant traffic jams.
