Tips To Buy KLCC Property As A Foreigner

Posted by on May 1, 2014 in Buying Property

Tips To Buy KLCC Property As A Foreigner

Kuala Lumpur represents an attractive option for both expatriates and foreign citizens who are looking to buy real estate. From a legal perspective, it’s a similar location to both Hong Kong or Singapore, but it is considerably more affordable than either. Malaysia is home to a diverse cultural base that will entice and lure anyone who has even a passing interest in Asian culture or Islamic history. This guide assumes that the reader already understands the process of purchasing real estate, and that they have the resources to operate in Malaysia. It will focus in particular on what separates Kuala Lumpur from other foreign real estate markets. The following is what you need to know as a foreigner looking to buy property in Kuala Lumpur. Be Aware of Restrictions Real estate restrictions are the first thing you’ll need to be aware of. The Malaysian government, seeking to “cool” the real estate market for foreigners, has instituted a number of different measures that are intended to discourage real estate speculation that might harm the welfare of their citizens. Consequently, it is impossible to purchase any real estate holding worth less than one million ringgits, or about $310,000. This means no small-scale speculation is possible. However, that price range will give an individual access to a well-located two-bedroom condo, if they are willing to walk or take a monorail into a metropolitan area. Other restrictions may apply to the way in which property may be bought. Malaysia has taken and is continuing to take more extreme cooling measures than most nations in Asia, so this is something that is subject to rapid change. New developments may be locked out of foreign involvement, or “historic” neighborhoods may be sectioned off that prevent foreign intrusion. You may need to make some compromises to find property that suits your needs if you are not a Malaysian citizen. Look for Freeholds It’s very important to look for property on a freehold basis, rather than a leasehold basis. In the West, it is assumed that any property you purchase will be held for life. This is not the case in Asia. Many properties are offered on a leasehold basis, in which you simply pay for a very long-term lease. You’ll want to look for freehold properties for investment purposes. It can be harder to offload leasehold properties later on. In some cases, it is possible to negotiate for a property offered on a leasehold basis to be available on a freehold basis, instead. However, you should never assume that the freehold title you would expect in the West will be the default you will encounter in Kuala Lumpur. Have a Business Partner If at all possible, have a business partner to purchase property through. Unless you are married to a Malaysian native, you will find that you face much higher taxes on all your various earnings...

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The 5 Qualities Of A Really Good Property Agent

Posted by on Sep 1, 2013 in Buying Property, Property Guides, Selling Property

The 5 Qualities Of A Really Good Property Agent

Buying or selling a property is a challenging experience. A really good property agent can make the process go more smoothly. How can one choose the best agent to assist with a visit to this Malaysian property site? Look for these five qualities of a really good property agent.   1. Organized Real estate requires lots of paperwork and travel. To be efficient, a property agent needs to be organized. A good agent will have the information on the property their clients are interested in viewing with them. That way they can answer their questions about the property. They will know all of the needed forms for buying or selling a property and how to fill them out properly.   2. Good Communicator The best property agents are quick to answer the phone or return a missed call. One sign of a good communicator is that they listen. After they listen to their clients, a good property agent addresses any questions or problems that the client is concerned about. They also clearly explain the whole process of purchasing or selling a property to their clients so that there is no confusion. If a problem comes up unexpectedly, they get on it quickly.   3. Knowledgeable A good property agent know the area of the property agent listing. They know where the schools are, where the nicest neighborhoods are, and which area are up and coming. They should also know what properties are on the market. Knowing the market helps an agent to advise a seller in setting the right price for their property. They can also help buyers find the best property in their price range.   4. Honest A good property agent will not bend the truth to make a sale. They will not make up answers to questions about the property’s specific features. When listing a property, they will not agree to list a property for an inflated price without telling the owner what the market price range is. Being honest about any potential problems with a property helps the client to make an informed decision. Dishonesty is damaging to the agent-client relationship in the long term.   5. Experienced In general, the more experience an agent has, the better they will be at their job. An experienced agent knows potential pitfalls that an arise in a real estate closing, and they know how to avoid them. They also have contacts in the area for any repairs that might be needed for the property to close. Finding a really good property agent will make the search for the right property easy and enjoyable. Use this guideline to help choose a property agent. Visit this Malaysian property site >>. Bonus Tips: Get amazing office space solutions @ Malaysiantoday.com.my  ...

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Buy Eco-Friendly Properties

Posted by on May 23, 2013 in Buying Property

There are definitely some things that people should keep in mind when buying or renting a condominium, bungalow, auction property, or other type of home. Whether it be a house for sale, or a house for rent, people need to really make sure that they invest in properties that are eco-friendly. There are so many advantages to owning such a home like this one. If one already knows what they need to look for, then they will definitely not run into any major problems, and it will be entirely easy for them to decide on the best home. When searching for an apartment for rent, or an apartment for sale, one needs to make sure that they check out the insulation that is within the home. Nothing is going to matter more than being able to make one’s home an energy saver. If the windows are not insulated, there are things that a person can do to make sure that they get insulated. Property for sale doesn’t mean that everything is going to be just the way a person wants it to be already. When searching for property for rent, people should consider going with homes that are made more out of a brick structure. This is because brick insulates heat during the winter. It also helps to keep out the heat during the summer months. Something else that people should look for within their new condominium, bungalow, or other auction property to make sure that it is eco-friendly, is the lighting. Even though it doesn’t relate much to insulation, it does make a different when saving money on the costs of energy. This is something to take into consideration especially if one is thinking about buying an older house for sale or house for rent. It is very important to pay attention to the way that the lighting is set up. This just allows a person to see if a purchase is necessary. When looking at an apartment for sale, or an apartment for rent, exposure is just another thing that families want to keep in mind when it comes to eco-friendly living. Windows are something else that should really be paid attention to because they can allow energy to get sucked out which can definitely make one’s energy bills go up. When looking for property for sale and property for rent, check the neighborhood. This all makes a big difference as well. The right location makes it possible for bike riding, walking, jogging, and much more. The wrong location definitely won’t allow these things. Even though these houses may be a little bit more expensive, they are definitely worth it because a person will be saving money one way or the other. Visit www.StarProperty.my to find out more decent property listings. View this video: 3d model of ecological low energy eco friendly...

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The Surroundings of Your Property Do Matter: Part 2

Posted by on Feb 28, 2013 in Buying Property

(Click here for The Surroundings of Your Property Do Matter: Part 1) 4. Market Close proximity to the market can sometimes be a blessing, but at other times, it can be quite a curse. It is a blessing because of all the time saved to do your shopping for fresh produce, but other than that, it can be quite another headache. The morning traffic may become a hassle, blocking your path as you want to rush out for work. Your car needs to get out of the crowd and into the main road, and it can be quite frustrating to have a crowd blocking your way as you try to move forward. If you are a late riser by habit, you will also not welcome the noise during the morning market, with people bargaining and sellers verbally promoting their produce in the market, perhaps at the store right in front of your house. There can also be the problem about rats at the market areas. Whenever there is a wet market, you should be ready to see one or two mice running across the roads, climbing out from one drain to another. If this is not enough of a problem, some older houses in front of the markets may actually have these mice making their homes within the walls.   5. Bus Stop Many people are not quite bothered about whether there is a bus stop near their home or not, and for most people with a car, the bus stop is just going to be there and none of their business. However, if you think about the convenience of transportation, the bus stop will be part of your consideration. Let’s say you are working in an office, with a fixed time for work. You do not really need to use your car, if there are buses or other public transportation that links between your home to your office. During rainy days, having the bus stop closest to your home as much as possible can certainly be a blessing if you decided to save the environment by taking public transport instead. These are the five things which will make a difference to your search for a property, be it a bungalow or a condominium, worthy of your attention and helpful for your selection.   Author Azmi Azizi is a businessman and property investor, enjoys networking with thought leaders in his field and sharing what he’s learned with his coworkers. He run a few business centers and offer serviced office solutions in Kuala Lumpur. Image...

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The Surroundings of Your Property Do Matter: Part 1

Posted by on Feb 27, 2013 in Buying Property

Sometimes it can be quite a hassle when we need to relocate, move house or choose a new home to buy due to pressing circumstances. Whenever there is a rush like that, there are many times when we can only concentrate on the important things about the house, and neglect those more important things around the neighbourhood. Here are some of the things which you might wish to consider getting a house for rent or an apartment for sale. 1. Traffic This is especially true when we talk about areas like the city centre. For example, you may be able to find a place which is just 15 minutes away from your office, but you may have forgotten that there is a roundabout nearby which will cause a massive jam, bringing your total one-way commute to almost half an hour each day, and potentially become worse when it rains. It can be pretty stressful, because your home will seem so near yet so far away, and you will wish that you have chosen another housing area which is probably twenty minutes away from your office, but has lesser traffic. 2. Flood Is it a flood area? Many places are flash flood areas, while many others are well irrigated with new designs on the drainage systems. While your home is not going to be flooded due to all the good designs there are, how about that road just outside your housing area? It is no fault to say that the neighbourhood is not a flood area, but you will need to consider the route that you use daily from home to work, or from home to your child’s school. Does it flood along the way, and do you have any alternative routes to these venues? You might be stuck at home for hours just to wait for the water to recede along the streets that bring you to your destination. Usually, all you have to do is to ask around to know the history of floods in the area. 3. Schools Schools can sometimes be a blessing, and at other times cause you a lot of stress. If you have children, finding a home near a good school is certainly worthwhile. However, sometimes schools can create the problem of traffic jam during peak hours. You will see a lot of traffic during the hours when the children are going to school or going home from school. If you do not have children, chances are you will be very irritated with the traffic during these hours, especially when you are rushing to get to work, or during the hours when you are trying to get home for a good dinner after a tiring day at the office. More in The Surroundings of Your Property Do Matter: Part...

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