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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Overview of The Troika, Kuala Lumpur

Posted by on Feb 6, 2014 in Kuala Lumpur Properties, Real Estate News

Overview of The Troika, Kuala Lumpur

Luxury and sophistication are the two words that most accurately describe The Troika in Kuala Lumpur. This 3 tower development by famed architects Foster + Partners is a stunning work of architectural beauty providing a wide range of living options for those interested in living in this influential district.¬†Take a closer look at The Troika here, and you’ll find out lots more information about this stunning development. This development offers three different types of floor plans, but a wealth of variations and options within each plan. Designed as a luxurious home with a vast array of amenities, residents will have swimming and wading pools available as well as a gym, playground, BBQ area, sauna and more available to them. In addition, the beauty of the towers is brought to life with The Sky Lobby. This sky bridge that spans all three towers provides some of the best and most spectacular views of the city.             The Necklace is part of The Troika that houses some retail shops and restaurants. Dine on fine Japanese cuisine, or stop by the Acme Bar & Coffee for a quick bite or cup of coffee, and some of the finest dining is right at your doorstep. Kuala Lumpur is one of the finest cultural cities in the world and The Troika development brings luxurious living like never before.       Indeed, Kuala Lumpur has grown rapidly and become a booming city in just a few decades. With a population of 1.8 million people, it has become a major business and economic center for the region. Developments like The Troika give people the conveniences they most desire, while surrounded by absolute beauty and architectural perfection. Residents of The Troika understand that they have the most amazing modern home advantage available to them each and every day. The first tower is 38 floors tall, while the second tower is 44 floors. Finally, the third tower stands at an impressive 50 floors. This remarkable three-tier complex fits within the Kuala Lumpur skyline as a remarkable addition. With residential, office, retail and restaurant space, The Troika is a twisting building, with each floor rotating with height. This amazing development by Bandar Raya Developments Berhad (BRDB) brings style and sophistication to residential development. There’s no doubt that The Troika is one of the best and most desirable developments in Kuala Lumpur.   [gmap addr=”The Troika, Jalan Binjai, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia”]The Troika Kuala Lumpur[/gmap]          ...

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