Malaysian property market hots up

Country:  Malaysia

22 February 2008

Malaysia's property market is fast emerging into one of Southeast Asia's strongest "semi-mature" property markets, according to one market expert.

Liam Bailey of David Stanley Redfern said that local infrastructural improvements, strong tourism levels, favourable tax laws and no restrictions on foreign ownership, are all driving demand for homes in Malaysia.

Bailey claims that Malaysia's property market is set to appreciate annually by up to 25% over the next few years. He believes that the strongest price growth will occur in Sabah and Kuala Lumpur.

Speaking to Homes Overseas Online, Bailey said: "Foreigners can obtain up to 70% loan-to-value finance from Malaysian and Western banks like HSBC. Malaysia's laws are mainly based on the British legal system, which simplifies the property purchasing process. Malaysia charges no CGT, inheritance or Gift tax, while there are no restrictions on foreign ownership or permanent residency.

David Stanley Redfern is currently selling properties in Nexus Residents in Sabah. Property prices start from £115,00 and are subject to 7% rental guarantee for the first five years.