To know Malaysia is to love Malaysia - a bubbling, bustling melting-pot of races and religions where Malays, Indians, Chinese and many other ethnic groups live together in peace and harmony. Our multiculturalism has made Malaysia a gastronomical paradise and home to hundreds of colourful festivals. It's no wonder that we love celebrating and socialising. As a people, Malaysians are very relaxed, warm and friendly. Geographically, Malaysia is almost as diverse as its culture. 11 states and 2 federal territories (Kuala Lumpur and Putrajaya) form Peninsular Malaysia which is separated by the South China Sea from East Malaysia which includes the 2 states (Sabah and Sarawak on the island of Borneo) and a third federal territory, the island of Labuan. One of Malaysia's key attractions is its extreme contrasts which further add to this theme of ‘diversity’. Towering skyscrapers look down upon wooden houses built on stilts while five-star hotels sit just metres away from ancient reefs. Rugged mountains reach dramatically for the sky while their rainforest-clad slopes sweep down to floodplains teeming with forest life. Cool highland hideaways roll down to warm, sandy beaches and rich, humid mangroves. The capital is Kuala Lumpur
Situated between 1° and 6°N, the whole of Malaysia has a classic equatorial climate with high temperatures and wet months throughout the year. Temperatures at sea level range from 21ºC to 32ºC, whilst at higher elevations it is much cooler with temperatures ranging from 15°C to 25°C. Annual rainfall varies from 2,000mm to 2,500mm.
Foreigners are able to buy property in Malaysia and are encouraged to do so. Most investors choose to form a company and purchase the property in the company's name which gives ease in transfer and sale by selling the company.
First negotiate a purchase price through the vendors (sellers) agent. When accepted, the buyer first needs to pay 2% of the purchase price to the seller. This money is termed as earnest deposit and is paid when the buyer signs the letter of acceptance for the purchase of that particular property. After the sales agreement is signed between buyer and seller the buyer needs to pay another 8% of the sale price The buyer must pay the remaining 90% of the purchase price within three months of the signing of the sale and purchase agreement. An additional 30 days is allowed during which an interest is charged of 6% on the balanced amount. After the buyer has made the full payment of the property they are now authorized to take the complete legal possession of the same.
New capital gains tax on property was introduced in January 2013 The legal fees charged for the same is based on the purchase price of the property. For the first RM150,000 amount the fee is 1.5% after this for another RM4,900,000 the same is charged as 0.75% and for the remaining amount the fee charged is 0.25%. Stamp duty is another fee that needs to be settled as any property transfer undertaken in Malaysia is subject to stamp duty levied by the government. The same is charged as: for RM100,000 at 1% for the next RM400,000 at 2% for next RM1,500,000 at 3% and 4% on any amount remaining. Agency fees range from 2-3%
Once a property is sourced you will be expected to pay one months rent to the Landlord upon the offer acceptance, this will be counted as your security deposit for the term of the lease (if the property is furnished deposits can be two months rent) Rents are paid monthly
The tenant has to pay a one off government stamping fee of their tenancy contract (stamp duty) You will need to pay for administration and agency fees which can go from equivalent of 1.25 months upwards dependant on the length of the lease