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some states such as Johor,
Melaka and Penang, the purchase price of
the
property must be more than Ringgit 250,000.
- Types of
properties you are allowed to purchase
Apartments,
condominiums, service apartments and landed
properties such as terrace, semi-detached
and bungalows.
- Fees involved in purchasing a property
Legal fees
and handling for the preparation of the sale
and purchase agreement which is a percentage
of the value of the property.
On financing
from a bank, the usual legal fees and
disbursements for the preparation of the
papers are applied.
If you are seriously planning to invest in
properties in Malaysia, check out this
unique e-book by Malaysian property expert
Juanita Chin on "How to Own Properties in
Malaysia without Being Ripped Off" at
http://www.MalaysiaPropertyGuide.com
The Penang
residential property market means the bulls
are running upwards.
Everywhere the eye catches new high rise
condominiums, but many are not appropriate
for the location and simply looking ugly.
The current grow
is partly due to the
Malaysian government's efforts to promote
the development of low and medium cost
housing under the 9th Malaysia plan (Thrust
4, Chapter 21). That means the outlook is
good and many developer are having bright
eyes and counting money.
Buyers from outside Malaysia
are getting on the property buying bandwagon
under such programs as 'Malaysia: My Second
Home'; a scheme that allows foreigners to
purchase higher-end properties in Malaysia
without having to receive prior approval
from the Foreign Investment Committee.
Plus
there are some indication that expatriates
in Malaysia are moving from rental
properties to purchasing properties.
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