Buy Property in Malaysia

Malaysia My Second Home Program MM2H Program

2009-09-13T23:00:00.000-07:00

Malaysia My Second Home, MM2H Program is promoted by the Government of Malaysia to offer citizen of countries recognized by Malaysia regardless of race, religion, gender or age to retire and reside in Malaysia. Malaysia My Second Home, MM2H Applicants are allowed to bring with them their spouses and children who are unmarried and below 18 years old.

Successful Malaysia My Second Home, 'MM2H Applicants' will be granted a Social Visit Pass for a period of 10 years, which is renewable (subject to the validity period of their passport).

Your Reliable MM2H Sponsor To Look After Your Needs

All 'MM2H Applicants' are required to have a local sponsor to assist in application of Malaysia My Second Home program. Malaysia MY 2ND HOME (MM2H) works closely with the Ministry of Tourism and Immigration Department of Malaysia to ensure that your 'Malaysia my second home program' application is processed expeditiously and to provide you with the most up-to-date information on Malaysia my second home program.

Our role as your reliable mm2h sponsor includes:-

Check your eligibility for 'Malaysia my second home' program
Advice on types of required mm2h documents
Assist to complete and submit your application for 'Malaysia my second home program'
Act as your MM2H sponsor in Malaysia my second home program (personal bond)
Update you on mm2h application process from time to time
To arrange for your arrival and immediate accommodation in Malaysia
Arrange bank account, health and medical insurance for residency in Malaysia
To assist in making travel arrangements within Malaysia
Arrangements of medical examination and insurance policy for residing in Malaysia
Bring you toward the Malaysian Immigration Department to secure MM2H visa & Citizenship
Acting as your personal 'Malaysia my second home program' consultant for any kind of assistance

Malaysia My Second Home Agent & Consultant

If you are planning to live and get residency in Malaysia or explore more about Malaysia my second home program, application and procedure so, we can provide you all kind of answer and inquiries. We are authorized and official MM2H Agents and Consultant within Malaysia where, you will be facilitate by whole mm2h services. Malaysia My Second Home Program’ is the only reliable source that acts like a bridge to connect you with residency and second citizenship in Malaysia.

To achieve this facility given by ‘Malaysia My Second Home Program’ from Malaysian Govt. before you gets too late. We are available to assist you around the clock. So Callus Now at 603-20924686 or Email: info@okmm2h.com and start your Malaysian Immigration process today and get permanent residency in Malaysia

Key Benefits

All approved applicants of Malaysia my second home or mm2h will enjoy special benefits approve by the Government for this unique program include following

Malaysia my second home or MM2H provides, a 10-year Social Visit Pass and Multiple-Entry Visa.
MM2H visa is extendable after 10 years.
MM2H visa provides opportunity for free to stay in Malaysia and travel multiple times, as per choice.
MM2H or Malaysia my second home, gives the opportunity to import your car or purchase a new car which is tax-free and save up to 33%.
Malaysia my second home or MM2H provides opportunity for parents to get student pass for their children to further their study at international colleges and universities in Malaysia.
Malaysia my second home or MM2H provides benefit to bring a maid from your country of origin to Malaysia after the approval.
Malaysia my second home or MM2H provides opportunity by which one can be an investor and own businesses in Malaysia.
For housing loan, you can obtain up to 80% as compare to normal 60% for foreign applicants (subject to credibility).
For Malaysia my second home or MM2H residents, overseas income is not taxable in Malaysia. Under this program, for those countries has a `double taxation agreement’ with Malaysia, your private pension fund remitted to Malaysia is exempted from tax if you stayed more than 182 days in Malaysia.
Malaysia my second home or MM2H provides an exemption to obtain Foreign Investment Committee (FIC) approval for purchasing properties in Malaysia.http://www.okmm2h.com

Promotion Package in Malaysia

2009-09-13T22:44:00.001-07:00

Step-by-Step Guide to Buying Property in Malaysia

2009-09-13T22:42:00.001-07:00

There are four options once the property has been purchased, occupy the property, leave the property empty, engage a caretaker or put it on the rental market

A Step-By-Step Guide to buying the Right Property

Investing and buying properties anywhere in the world can be a tough and time consuming challenge. The Step-By-Step Process allows prospective investors and property buyers to source out the required information to make an informed and knowledgeable decision on property purchases in Malaysia.

There are certain points that investors have to be aware of before the buying process itself.

The Malaysian residential property sector is undervalued by regional standards, but recent government policies have been put into place to address the shortfalls faced by foreign buyers and investors. Currently as a foreigner, there are no limits to how many residential properties can be owned. Real Property Gains Tax (RPGT) have been waived and foreigners can repatriate funds back to their country of origin with ease.

On average it takes about four to six months for a foreigner to transact a property. Non-residents are subject to 28% tax on rental income or an effective rate of 20% to 25% after allowable business expense deductions. Gross rental yields are about 5 % to 7% and possibly higher in selected areas.

Step 1
Decide on your budget and match it to the type of property you desire. As a foreigner there are four types of properties to choose from. Foreigners can buy apartments, land, landed residential properties or commercial shop-offices.

Step 2
If the property is from the secondary market, allocate a period of four to six months for the deal to be concluded. Avoid leasehold properties if possible as the transaction will test your patience. Historically leasehold properties trade at discounts to freehold properties and it also takes longer, about seven to ten months for the transaction to be completed as state authority approvals are required.

For properties acquired from a developer, the duration will be spread over the physical property construction. The developer will progressively bill the owner or bank as the construction progresses. Normally delivery of the property is scheduled within two to three years from the launch of the development.

All developers have to allocate 30% of all units built to Bumiputras at a 5% discount to the listed price. If unsold, most developers are able to get a ‘Release from the authorities if they show proof that they were unable to sell the units. Foreigners are allowed to buy these units in the secondary market, however potential problems may arise if the property is leasehold and has yet to receive its strata title, the state government still has to approve the sale.

Foreigners can source financing from a local bank and there are now no restrictions on the number of loans that can be applied for. Typically banks will finance up to 70% to 90% of the property value, ensure that the loan process is under process the moment the Sale & Purchase Agreement is signed.

Step 3
There are four options once the property has been purchased, occupy the property, leave the property empty, engage a caretaker or put it on the rental market.

To achieve the best rental returns on the property, renovate the property so that it caters for the target market you require. Depending on the state of the property, the Rule of Thumb for renovation cost is estimated at RM150/sq.ft.

Rental income derived from the property is taxable, as a non-resident individual buyer, the taxable rental income is subject to a flat rate of 28%. In the case of a company owning the property, the allowable deduction rate is 25%*. If the company owns more than three properties, it is then entitled to full deduction on property-related expenses against the rental income.

Step 4
Once the type of property, location, price and other particulars have been identified, it is vital that a background check on the developer and its track record is carried out. This typically includes the developer’s financial standing, debts, necessary permits and approvals, particulars of past, present and other on-going projects being undertaken.

It is wise not to be taken in with glossy brochures and show units as these do not necessarily reflect what will be in the property that is being purchased. Typically show units are upgraded with fancy fittings and furniture that are not part of the original property.

Before making a decision on the location of the property take into account the positioning of the property whether it is east facing, whether it is at a dead end lane, what are the other facilities or amenities next to the property, whether is it is located next to a highway, factory, vacant land etc. These factors are crucial to the future capital appreciation of the property and cannot be determined in the show unit or brochure.

Investors should also be aware of the type of material and fittings used in the interior of the property. Shoddy workmanship can drastically reduce the yields on the property and it can be difficult to dispose of at a later date.

Step 5
Once the property has been identified and the other factors have been verified and cleared, before the Sale & Purchase Agreement is signed make sure that there are no hidden costs incurred. It is also vital to make an informed and knowledgeable decision based on the growth and capital appreciation potential of the selected property.
Happy Hunting.

Source:
* House Buyers Association

Sources:

House Buyers’ Guide to Buying a Property in Malaysia - Juanita Chin
Buying a property in Malaysia – Deustche Bank.

Property Types in Malaysia

2009-09-13T22:19:00.000-07:00

Property Types in Malaysia
There are 3 major types of properties in Malaysia: Vacant land, commercial properties and residential properties. A research on the subcategories of properties can enable the proprietor to maximize the returns of the property.

Residential Property
Residential property covers a whole area of property types including condominiums, residential houses, service apartments, apartments, townhouses and luxury homes. Let us examine the various types of residential properties available in Malaysia.

The residential property types are as follows:

Residential houses: Most people, especially families prefer residential houses than other types of homes. Residential houses include terrace houses, semi-detached houses and single family detached houses. They come in one- , two- or three-storeys. Usually residential houses are two-storeys and the upper third storey is the attic, or if it is the lower third storey, it is a basement. Residential houses in Malaysia are landed properties usually with land and linked to other houses but separated by walls or fences. These types of houses are always on the market for rent or sale.

Luxury Homes
What defines a luxury home is usually its hefty price tag. It usually offers the highest quality, location, floor plan, amenities and lifestyle to owners within the community. Size does matter sometimes but it does not define a luxury home. Estates, mansions, castles, villas, and seaside homes are the obvious luxury style homes, but some that feature: an interior lap pool, art gallery, gym, media room, relaxation room would be categorized as well, despite the size. Luxury homes are usually the upper-tier of the market and are priced from RM1 million onwards.

Apartments and Condominiums
An apartment is a high-rise or low-rise building with basic facilities while a condominium consists of more facilities such as swimming pool, convenience store, tennis courts, gym, and other amenities. Apartments are relatively self-contained housing unit in a building which is often rented out to a family or one or more people for their exclusive use. It is sometimes called a flat. Some locales have legal definitions of what constitutes an apartment. In some places 'apartment' denotes a building that was built of such units, while 'flat' denotes a unit in a building built originally as a single-family house and later subdivided. One of the types of apartments available is studio apartment. These kinds of apartment usually consist mainly of a large room which is the living, dining, and bedroom combined. There are usually kitchen facilities as part of this central room, but the bathroom is its own smaller separate room. Condominiums fetch higher prices and rentals usually due to the fact that they are of better quality and come with a full range of facilities.

Townhouses
Generally townhouses are not as popular as other types of houses in Malaysia. Townhouses are two properties built on the same piece of land, normally the lower unit occupies the ground and part of the first floor, while the top unit occupies the remainder of the first floor and the remainder second floor. Most of the time the owner of the lower unit is different from the owner of the top unit. Townhouses are different from condominiums or apartments. In other countries, townhouses are also known as row houses. Some townhouses have amenities in the community such as playgrounds and tennis courts. The characteristics of a townhouse include a small frontage onto a street or thoroughfare and a yard of some kind behind.

Service Apartments
A service apartment is very similar to hotels but the only thing is you can own or rent a service apartment. It is furnished and provides facilities for daily use. It is also designed for short term stays and is cheaper than hotel rooms. Since the beginning of the boom in cheap international travel, there has been a rise in the interest in service apartment instead of hotel for short stays. Service apartments are basically like condominiums with services included. They are usually located in commercial districts. It is said that they are not regarded as residential properties hence they are not covered by the Housing Development (Control and Licensing) Act 1996.

Commercial Property
Commercial property covers a whole area of property types including shop offices, shop houses, commercial buildings, retail stores, professional buildings and shopping centres. Commercial property is pricier than residential property and it has a possibility to face problems in rental during recession. Let us examine the various types of commercial properties available in Malaysia.

The commercial property types are as follows:

Shop offices
A shop office is basically self-explanatory. It is a row of buildings in which separate shop offices are linked together. It is different from office buildings or shop houses. However it is the same design as the shop house. The only difference is a shop house is not used fully while a shop office is used fully for commercial use. In the early twentieth century, this style of building was common in the cities closer to commercial districts and is often used for larger businesses where large companies needed a large amount of space.

Shop houses
They are generally low rise buildings with one or two storeys. On the ground floor there are shops which open up to a five foot way and upstairs it is residential accommodation.Shop houses generally have the same design as shop offices, a row of buildings which are linked together. Usually the shop is a coffeeshop, barber, auto workshop or school association. Residential accommodation is meant to accommodate one or more families or used as a dormitory for workers. Shop houses are usually used for family businesses where the shop is used for businesses and the upper floors for residential purposes. The position of the shop and residential space depends on the number of floors of the shop house: A single storey shop house tends to include residential space behind the shop, while residential spaces in shop houses of two or more storeys are typically located above the shop.

Commercial Buildings
Basically a commercial building is a type of building that is solely for commercial use. It can be used for offices, warehouses or retail outlets. In some places, commercial buildings combine functions such as an office on levels 2-10 with retail on level 1.

Retail stores
A retail store is basically a store that is selling goods or provides services such as a book store, a boutique, a barber and so on. They can be found in shopping malls or shop offices, shop houses, commercial buildings or standalone store. Standalone stores are quite rare unless it is a large company. Retail stores are found in central business districts and urban areas.

Shopping centres
Shopping malls or shopping centres are large buildings with a variety of shops in them. The shops are easily accessible and in the shopping centres there are escalators and elevators to ease shopping. Most malls sell almost anything from clothes, food, household accessories, hardware, computer goods, sports equipment and entertainment like cinemas, skating rinks, bowling alleys, pool tables, etc. Shopping malls also have a food court and an anchor departmental store.

Vacant Land
There are three main types of land in Malaysia: freehold land, leasehold land and Malay Reserve land. The status of lands that are to be purchased must be checked in order to make an informed investment decision. Land status can be checked at the Land Office or the State Land Registrar.

Here are the types of land in Malaysia:

Freehold land
The tenure of freehold land is for life. The owner of the land owns the land, the building and anything that is on the land. There is no time limit for the owner and the freehold land lies with the title holder until he transfers it to someone else.

Leasehold land
Leasehold land is held by a person by virtue of a lease agreement between him and the owner permitting him to hold the land for a period as said in the lease agreement. The difference between leasehold and freehold is that for leasehold, the land is to be returnable after the expiry of the period. This type of land also belongs to the government and the least is usually for 99 years. When the lease expires, the government can take back the land or lease it further. The lesser the number of years left on the lease, the less valuable the land becomes.
Malay Reserve Land
Basically Malay Reserve Land is land that cannot be sold to other races, even foreigners except for Malays or Bumiputras. It is land exclusively meant for Malays and Bumiputras.

New Homes/Properties in Malaysia for Sale

2009-09-13T22:12:00.000-07:00

Papillon Desahill Condominium
Taman Desa
Condominium
From 1320 - 3660 sq. ft.
From RM490,000 - RM1,800,000

Indah Residences 2
Kemuning Utama, Shah Alam
2-sty Terrace/Link
From 2104 - 2521 sq. ft.
From RM365,000 - RM559,659

Teratai Villas
Kayangan Heights, Shah Alam
Bungalow
From 3812 - 5100 sq. ft.
From RM1,100,000 - RM2,000,000

1 Petaling Residences & Commerz @ Sg. Besi
Sungai Besi
Condominium
From 884 - 1171 sq. ft.
From RM180,935

Symphony Heights
Selayang
Serviced Residence
From 863 - 1247 sq. ft.
From RM135,200 - RM324,500

Ampang Putra Residency Serviced Suites
Taman Dagang, Ampang
Serviced Residence
From 607 - 1290 sq. ft.
From RM192,185 - RM755,630

MM2H Introduction

2009-09-13T21:50:00.000-07:00

The Malaysia My Second Home Programme (commonly abbreviated “MM2H”) is an international residency scheme supported by the Malaysian government to allow foreigners to live in the country on a long-stay visa of up to 10 years. So far over 10,000 foreigners have been approved and it is generating a lot of interest with the program attracting people who wish to retire in Malaysia or spend extended periods here.

Those who have called Malaysia “home”, have appreciated this country for its low cost of living, developed infrastructure, friendly Malaysians, attractive tourist destinations and its quality of life. For those with children, high education standards are available with international schools found across Malaysia.

To qualify for the program, applicants must meet certain financial and medical criteria. Successful applicants are then entitled to enter and leave the country on a largely unrestricted basis, and also benefit from other incentives aimed at making their stay in Malaysia more convenient.
http://www.okmm2h.com