Introduction
In this article, we will explore the world of Malaysian property through an interview with Sean, an expert in the field. We will discuss various aspects of Malaysian property, including its attractiveness to expats, the differences between Malaysian and UK property, and the tips and suggestions for expats looking to invest in Malaysian property.
The Attractiveness of Malaysian Property to Expats
Malaysia has become increasingly popular among expats, especially with the recent launch of the MM2H visa, which requires expats to purchase property. Sean explains that Malaysia is lucky in terms of its geographical location and timing, as it is the cheaper version of Singapore. He also mentions that the government is working hard to make the MM2H visa more attractive, and that the previous version required expats to have a certain amount of savings and a monthly income.
The Differences Between Malaysian and UK Property
Sean compares Malaysian and UK property, highlighting the differences in payment schedules, rental yields, and tax incentives. He explains that in Malaysia, expats can only buy property from a developer, and that the government has introduced a law to protect buyers from abandoned projects. He also mentions that the down payment for Malaysian property is very low, and that expats can get a mortgage of up to 70% of the property value.
Tips and Suggestions for Expats Looking to Invest in Malaysian Property
Sean provides three tips for expats looking to invest in Malaysian property. The first tip is to buy what locals will buy, as this will ensure that there is a market for the property when it comes time to sell. The second tip is to refer to the local median price when considering a property, as this will give you an idea of the value of the property. The third tip is to be aware of the reality of the Malaysian property market, as there are some U-turns and surprises that can affect the value of the property.
Conclusion
In conclusion, Malaysian property offers many opportunities for expats looking to invest in real estate. However, it is important to do your research and understand the market before making a decision. Sean's tips and suggestions can help you make an informed decision and avoid common mistakes.
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