How much does it cost to buy a property in Malaysia

Malaysian real estate market might be one of the most expensive options in the Asia Pacific region. But it is the returns that the property investors earn and the steady potential for yields in the form of rent and returns that makes this country one of the most attractive choices for investors. In fact the expats moving to this country are buying properties and settling down instead of only looking into the rental options. For all those looking to buy a property here whether it is as a part of the investment portfolio or to move to this country there are plenty of options to view from fazwaz.my website. Getting to understand the price of properties and the worth of the properties and the growth predicted would make it easier for the home buyers to take a decision.

Malaysia Property

Affordable options

Ipoh is one of the budget friendly locations in Malaysia for those looking to buy a home. The per sq.ft charge of RM196 which is an average trend in this place is one of the least property prices to choose from in Malaysia.

Expensive buys

A per sq.ft price of RM 940 or more should be expected while choosing to buy a property in and around the popular localities of Kuala Lumpur. This is one of the prime locations which is considered to be the fastest growing real estate markets. So for anyone looking for large long term returns this is one of the best choices to buy a house.

How much should the home owner spend?

A minimum down payment of 10% of the property value is expected for most of the properties in the country. There are plenty of flexible financing options for the locals and foreigners alike. Besides the down payment amount there is the registration fee and other taxes to be included at the time of purchase. Legal fees, stamp duty and other additional expenses should not be ignored while calculating the cost of buying a home. These increase based on the value of the house.

Malaysia Property

Get a valuation done

For those looking to get the best deal on the property there is also the option to get professional valuation done. This comes with additional valuation charges. But this can be useful to ensure that the property bought is worth the purchase price. The condition of the property as well as the projected growth in the region can all be understood with professional valuation.

Financing done right

Financing for the homes bought in Malaysia can be availed from both Singapore banks and Malaysian banks. There are slight variations in the interest rates and other charges.

Besides all of the above mentioned costs that might be incurred at the time of purchase there is also the GST levied on house purchase. This is 6% of the value of the property which is to be paid by the home buyer during purchase. Putting all of these costs together when the home buyer chooses a good location the property is sure to earn good returns in Malaysia.