Buying Property In Malaysia As A Foreigner

Buying Property In Malaysia As A Foreigner

Just like how foreigners have been received with a warm welcome when visiting our beloved country, they are also encouraged by the Government of Malaysia to make Malaysia the place of their retirement and invest in property here. Before making your move, you need to understand certain policies and legal fees imposed by the government on property purchases. Therefore, this article serves to guide you through the properties available to foreigners, the minimum value of property imposed by state authorities, and the property financing in Malaysia. What kind of properties can foreigners own? Foreign ownership of property is liberal (foreigners can even own 100% of the property) in Malaysia as long as minimum requirements are met. In law, foreigners can own any type of properties with the exception of: Properties valued less than RM1 million Low and medium cost residential units as defined by state authority Properties standing on Malay Reserved land Properties distributed to Bumiputera interest in any property development project as determined by state authority Having said that, foreigners can easily own a bungalow, terrace house, condominium, flat, landed property, studio unit, commercial property, industrial property, agricultural land (except Malay Reserved Land) and industrial land (except Malay Reserved Land). Read our article “Property Investment Landed or High Rise” to understand more before buying a property. What is the minimum requirement for the property value? Generally speaking, a minimum value of RM1 million is applied to all kinds of property in every state. However, state authorities remain in power to amend the minimum value in the controlling states. How can foreigners buy at a lower price? Malaysia My Second...
China-Based Agile Willing To Venture Into Mid-Market Property Development

China-Based Agile Willing To Venture Into Mid-Market Property Development

KUALA LUMPUR, Sept 3 (Bernama) — China-based property developer Agile Property Holdings is willing to venture into Malaysia’s mid-market property segment if there is a strong demand. “We will follow the market demand, if there is demand for mid-segment, then we will go for it,” its Chief Executive Officer, Wilson Ren said after a groundbreaking ceremony of its Mont Kiara’s sales gallery here Thursday. Agile, through its local unit, Agile Real Estate Development (M) Sdn Bhd today launched its first high-end residential project, Agile Mont Kiara with a gross development value of RM1.4 billion. The 4.11-hectare residential project is developed through a joint venture with PJ Development Holdings Bhd. Comprising 11 blocks of condominiums, the RM1.3 billion project is expected to be completed in 2017. Apart from Agile Mont Kiara, the Chinese property developer is collaborating with Tropicana Corp Bhd to develop high-end serviced apartments with a gross development value of RM2.5 billion in Bukit Bintang, which is expected to be launched in the first half of 2016. On its future plan in the domestic market, Ren said the company planned to acquire more land in Malaysia, particularly in the Klang Valley for housing development projects. “We will focus on Klang Valley as other areas such as Iskandar Malaysia are facing an oversupply situation. And normally, we will be involved in a project with GDV of over RM1 billion,” he added. Ren said Malaysia was the first country Agile’s chose to expand abroad as it boasted a steady demand for residential properties and a stable and growing economy. “Malaysia’s gross domestic product growth of between 4.5 per cent and...
New condos in Mont Kiara

New condos in Mont Kiara

SKYSCRAPERS may not be new to Mont Kiara, but an upcoming residential project looks all set to bring a fresh vibe to the mature township. The result of a joint venture between China property developer Agile Property Holdings Ltd and PJ Development Holdings Bhd, Agile Mont Kiara features 813 units of condominium spread across 11 low- to high-rise towers on a 4.1ha plot of freehold land. Upon completion in 2018, the towers will be connected by a 2.4ha garden at the centre of the development. Agile Real Estate Development chief executive officer Wilson Ren said the concept behind the project was based on building a close-knit community. “We want to build a community by having a central garden,” he stressed. “An open space like this makes interaction easier, and you don’t have to go far to greet your neighbours,” he added. In addition to the garden, Ren pointed out that one of the key features of the development was its practical layout. “Besides the smallest units, all other units will have double balconies that allow more space and natural ventilation and light,” he explained. There are seven types of partially furnished units, including three-bedroom, three-plus-one-bedroom with dual key, as well as four-bedroom units. Towers A to E are buildings with seven floors, while Towers F and G have 17 floors. The tallest will be Towers H to K, which will have 43 floors. Ren said there would be a Sky Club located on floors 29 and 30 in Tower I and J, which would offer leisure facilities to residents. The development is located near landmark buildings such as Publika...
Agile to focus on high-end property development

Agile to focus on high-end property development

China-based property developer Agile Property Holdings Ltd has made its foray into the Malaysian property scene with a RM1.4 billion high-end property project in Mont Kiara, Kuala Lumpur. The Chinese developer, through its subsidiary Agile Real Estate Development (M) Sdn Bhd, is developing Agile Mont Kiara in a 70:30 joint venture with PJ Development Holdings Bhd. Agile is looking at focusing on high-end property development within the Klang Valley due to good demand. “Kuala Lumpur is already very attractive with its impressive infrastructure and steady growing demand for residential property. If you are looking from the outside, the property market here is now even more attractive with the weakening of the ringgit,” Agile Real Estate Development CEO Wilson Ren told reporters after the launch of Agile Mont Kiara yesterday. Ren said the property developer will also explore for more opportunities in the Malaysian market especially in the midend segments. “We want to build our brand (Agile) in the Malaysian market before venturing into other property segments. That is our first priority,” he said. He said Agile Mont Kiara with a RM1.4 billion gross development value (GDV) will consist of a total of 11 blocks of condominiums with a mixture of low rise, medium rise and high rise. The development will have a total of 813 units, built on a 10.16 acre (4.11ha) site. According to him, the project is slated for completion in September 2018. He said Agile currently owns a diversified portfolio of over 90 projects under various stages of development in cities and districts such as Guangzhou, Shanghai, Nanjing and Xi’an in China. Its expertise includes the...