MALAYSIA
Select a property to purchase
Sign letter of acceptance/offer
Pay a 2% or 3% earnest deposit of the purchase price
Owner / Seller signs Letter
of offer/acceptance
Sign the sales and purchase agreement (SPA)
Hire a lawyer/soliciter
Pay the remaining 7% to make up the required 10% downpayment
Get SPA stamped and the stamp duty
Register transfer at the land office registry
Vacant possession of the property
Congratulations ! Your are now a property owner
step by step
Numbers
5%
Economic growth
10%
Downpayment
5.6%
Year-on-year housing price index 2017
The quarter-on-quarter trend follows the same movement as Kuala Lumpur, Selangor and Penang, with a decline of 1.4 percent, 0.3 percent and 0.6. The increase in property supply and decline in asking prices is an indication of the Malaysian property market levelling out. Johor showed an increase of 1.7 percent, between Q2 and Q3 2017. The trend has shown a steady decline of 2.3 percent since the beginning of 2017. The key states leading the decline are Kuala Lumpur at 2.3 percent, Selangor at 4.6 percent and Penang at 3.4 percent year-on-year. Only Johor showed an upward movement of 7 percent within the same period.
Malaysian property market is set for an upturn next year. This is despite the fact that many investors are still adopting a wait-and-see approach. There are two main reasons for this prediction; Malaysia’s economic growth and lower unemployment rates. The conclusion is that it is currently a good time to think about investing into the Malaysian property market. Here’s that full article again
Medium term outlook is a better indicator of whether to buy or not to buy) as well as some legal know-hows and guidelines on purchase of properties by foreigners in Malaysia. The growth potential for real estate hotspots lies in Penang, Kuala Lumpur, Malacca and Johor.