Why Foreigners Are Attracted to Purchase Malaysian Real Estate

There are a lot of great news for many who are interested in property in Malaysia. Especially for Penang apartment rentals, condominiums, and other forms of housing in that area and other areas in Malaysia, there are great benefits aboard.

Property in Malaysia is really in demand, and even though they have laws that are more landlord favorable, they still extend a lot more favor towards the tenants. So rather locals or foreigners looking to buy, sell, rent, or invest in property in this wonderful country, the benefits are abounding from tax breaks to getting more for your money.

There are great tax breaks available for the “Malaysia My Second Home”(MM2H) program. In this program, MM2H participants have visas, and can purchase property that is at least RM500,000 in Penang, but it’s limited to only two units. However, in other areas within Malaysia, foreigners don’t have limitations in purchasing limits, and the minimum amount for this program in those areas must be at least RM2 million for some, and RM1 million for others.

Another thing about some tax benefits include something that may not seem so beneficial at first, but it will be beneficial in the long run. Starting in the fall of 2012, there have been proposals to increase property gains taxes for the first few years. Starting in January 2013, the tax rate from the third to the fifth year has changed from 5 to 10%; however, no tax will be imposed after ownership of six years or more. Another thing that you should be aware of is that 15% will be charged to you if you sell the property within the first two years of purchasing it.

Besides these not so perfect occurrences, owning property in Malaysia is one of the most popular destinations in the world. Additionally, these changes are minor compared to the whole process and benefits of their properties.

Malaysia is thriving, and with that in mind, you can take full advantage of what they have to offer within the real estate market. This can be done by performing thorough research with well reputable companies who can assist you in getting the best. Also, keeping abreast of the new and updated regulations will help you go a long way within the market.

How to Calculate Property Purchase Financing for First Time Homeowners

If you are new to buying property, there are several things you need to take note of and several steps you will need to take before you begin your journey.

The first thing you want to do, is check and compare the market prices of homes and other pieces of real estate, that are similar to the property you are looking to invest in. Certain areas on the web can give you a general idea of the market value of the real estate you plan on investing in. This way you will not get burned by spending too much on your new property. Be sure to invest in property you can afford. Use a mortgage calculator, or something similar, that way you do not invest money in a property you will never be able to pay off.

Look into how much you will be paying in closing costs. These upfront costs are one thing that should not be overlooked, and include origination fees that are charged by your lender, taxes, settlement fees, title and other prepaid items such as insurance. Look into what the closing costs for your state are by checking the various cost surveys. How Did Property Developers Become the Best? Find Out.

Looking at your budget, you can help determine how a property can fit into it. You do not want to spend more than 25% to 30% of your income on property costs. A little over is okay, but too much over can be a problem.

This is related to the point above, but calculate what your monthly costs for your property is going to be. Add up everything, it is okay to exaggerate a little because it is better to have money left over than not enough for your property costs. You can use an affordability calculator to help determine what the cost of the property will be if you need help. This includes items such as insurance and property taxes. Keep an eye on the taxes, seeing in certain areas they will double your mortgage payment if you are buying a home, this is especially true if you live in Texas.

You can also call a local insurance agent in the area want to buy your property. They will give you an idea of how much you will be paying. Property tax information can be found in different publishings around the country if you are curious in regards to taxes.

Using the tips above, you should be set to buy the property you want without breaking the bank and avoiding any unnecessary frustrations.

Searching for Penang Property? Here Are Some Helpful Advice for Foreign Investors

Investors throughout the world are looking at investing in Malaysia properties for a multitude of reasons.

You will find that doing business in Malaysia is easier compared to other states with Malaysia coming in 6th place by the World Bank in Ease of Doing Business Report 2014.

You will also be avoiding any natural disasters which makes it a great target for investors and for people in the region looking to settle down in a coastal area.

Penang it’s self is located on the Northwest coast and you should know it’s broken up into two different areas the Penang Island and the Seberang Perai which is on the mainland. Penang is actually the second smallest state of Malaysia after Perlis. Penang is known for its tropical climate with temperatures ranging from 23 degree to 32 degrees Celsius.

Lacking in size has not slowed Penangs development. The beach fronts and islands have become a spot for tourism and housing growth. One must take a drive on the Penang Bridge which connects the main land and Penang Island which until recently was the only driving option to the island. With the boom in Penang at this time The Second Penang Bridge was just opened on March 1st, 2014 connecting the southern part of the island.

You will also find now is the time to do seriously consider a search for Penang properties. Just in 2014 the Malaysian government raised the requirements for purchasing a Malaysia property from MYR500,000 per unit to MYR1 million per unit. You will find that the MM2H migration program has had no changes but is something to look out for in the near future.

Penang has a few popular areas to live in but a couple to check out are Penang Hill, Minden Heights along with Jelutong. You will find in these area’s plenty of larger condos available with many new buildings been put up at this time. The high rise condominiums are become popular for their spectacular sea views. During a search you will also find many terraced homes and partial detached houses for those looking for more private quarters.

With European and Asian investors flocking to Malaysia don’t wait to find out if Penang and Malaysia is for you.

Investing in Ipoh Real Estate: A Beginner’s Guide

If you are a foreign investor and you are interested in properties for sale in Ipoh – Propwall.my, you should start by hiring a good lawyer and learning the lingo. Most words used in advertisements for real property has legal ramifications. The local culture and laws can be and probably are very different from the culture and laws surrounding real property in your native land. Thus, talking with a good lawyer can be critical to understanding the implications of words like “leasehold” that you may see in Malaysian real estate ads which may be unfamiliar to you. A leasehold property is not being sold to you in perpetuity. If you do not understand the difference between that and freehold land, you could be in for a nasty surprise down the road when the leasehold period ends.

 

Ipoh Property

 

 

Next, you need to learn to do a quick and dirty assessment of value. In real estate, value is determined by “comps”. In other words, valuation is based on comparing the property to other properties with very similar characteristics, properties which are comparable. The closer they are to being identical, the more confident you can be that their value is close to identical. It is important for them to be in the same neighborhood and have some of the same characteristics such as number of bedrooms, number of bathrooms and square footage. If you are seeing similar properties priced very different from the one you are interested in, then you need to find out why that is. There may be a perfectly valid reason. There may be differences in the property that you have not noticed. But it could also just be priced inappropriately. A good practice: Learn to routinely compare similar properties in the same neighborhood as potential investments.

Before you spend a dime on any real estate, make sure you do your homework. Real estate investment can pay off handsomely. But, if things go wrong, it can also cost you a great deal. Investing in a foreign country can be very attractive because there can be a huge upside. But huge upsides are usually one side of a coin where the other side is a huge risk. The way to mitigate risk is to do your research and go into it very well informed. This means hiring qualified professionals who are deeply familiar with the local market and doing your own research as well.

 

Here’s Why Everyone Should Move to Ipoh, Perak

If you are looking for a place to live that has a laid back lifestyle, great food, fresh air and sunshine, clean and fresh water, and modern healthcare facilities, then take a look at Ipoh, Perak.

 

Where is Ipoh?

Ipoh, which is pronounced “ee-poe,” is in Malaysia, and it sits on the Kinta River at the meeting of the Sungai Pinji and Sungai Pari rivers. This area is encircled on three sides by scenic limestone cliffs, granite mountains, and a thick, tropical jungle. Plus, the area also features caves, lakes, and rivers nearby, which makes it great for those who like to do things like rafting, hiking or spelunking. Plus, it is only two hours from Georgetown, which has been declared a UNESCO World Heritage city, as well as about the same distance from the capital city of Kuala Lumpur.

 

Ipoh Town
Ipoh Town

 

[gmap addr=”Ipoh, Perak, Malaysia”]Ipoh, Perak [/gmap]

 

Budgeting is Easy in Ipoh

This city is quite popular with Malaysian retirees, and a typical couple can live here with a budget of about $1,000 a month if they plan right. It’s quite possible to find a two bedroom apartment for between $200 and $250 a month US dollars.

 

San Bao Dong Temple Ipoh
San Bao Dong Temple Ipoh

 

 

 

What Does Ipoh Offer?

Ipoh has many things to offer western retirees who are looking for a nice, quiet place to get away from the stress and strain of everyday life. They will find English-speaking people here in Ipoh, and the Visa program is very flexible at letting foreigners live in the country. There is even shopping malls, a China Town section, and more to attract interested parties in renting or buying Ipoh property.

 

Ipoh HorFun Noodle
Ipoh HorFun Noodle

 

 

If you are searching for a place to live in Ipoh, then it’s best to use a property agent to help you to find it. They can quickly show you all of the possible condos, homes or apartments up for rent or sale. In fact, this way you save money as the property owner is the one who pays the rental agent’s fees. Some rentals are furnished, and even supply the dishes and linens. Others may be partly furnished and some are unfurnished but still may supply a stove and refrigerator.

 

Tune Hotels Ipoh
Tune Hotels Ipoh

 

The bottom line is that Ipoh is a friendly and beautiful place to retire and many people are joining in the interest in this Malaysian paradise. If you too are looking for a place to retire, then get in contact with a rental or property agent today to check out Ipoh.

 

Buying Foreclosed Homes: Top Tips for Making Your Investment Go a Long Way

Foreclosed properties have been far-reaching into the home marketplace, dislocating families, and bringing the property values down. Don’t get caught up in the headlines that read – foreclosed properties are being bought at ultra-low costs. Property agents are receiving buyers from as far away as overseas and some of these curious buyers from around the world are purchasing in volume.

Local Real Estate Professionals, Home Inspectors, and National Housing Officials will offer you advice on purchasing your new property (see new launch property here) and help you budget attentively. A caring real-estate agent will say not to let the price tag that is priced low entice you into a fast bargain.

 

How to Hire a Home Inspector:

Search for a contractor to do a private examination. A home inspection is usually required by banks when loaning money for a mortgage. All the experts say it is critical to get an evaluation that is up to date. Preceding evaluations are just a snapshot in time, and a home’s state can change drastically when there is no caretaker on these properties. When looking at several properties it’s possible to come across vandalism including previous owners who rip off copper piping, cupboards, and fixtures. Sometimes a review will prevent additional damage and a small investment of $300 to $500 for an inspector should be well worth it in the long run particularly if the inspectors discover the pipes are broken, repairs can be done ahead of time.

 

Making Repairs to Your Home:

Make sure you ask yourself these questions: Have you got the cash to make the necessary repairs these houses the home will require? Have you got a team? If your plan is to rehabilitation and then lease, can you manage the house if you do not find a renter? There is little danger, if you do your homework and see the house for yourself in person. It is not best you buy the house sight unseen. If you are looking for a purchase in San Antonio and you are in New York City, you will need someone to appraise the house for you in person.

 

Inspecting Your Property & Neighborhood:

Examine the areas surrounding the house assess it and do your homework. You might be unable to recoup the expense of the repairs if widespread foreclosures or high crime depress the value of the house in the region. It’s also best to analyze the appearance of the neighborhood at all hours of the area, including at nighttime.

The longer the vacancy the more damage there is, generally. If a house has not been “mothballed” carefully, a long list of problems could set in. Also the pipes and seals could dry out and let the bugs get an opportunity to get into the house and the sewer gases could come up from the pipes being backed up. This also holds true for washer drains, the sinks, and the toilets.

Do not turn on the utilities until you find out if the house was winterized. During the colder seasons it is possible for pipes to crack, this could cause water to leak behind the walls and underneath the home. To prevent further mold growing do not turn the water back on. If the house was ignored for a long period of time other problems could have occurred for example untrimmed trees, landscaping, bushes and vines can bring to the deterioration of the house. Nearby trees could send roots down into the base of the home and vines could crawl into the windows that could cause damage unseen by an average walk-through.

 

Foreclosure infographic

 

Investing Into the Current Housing Market!

Soon-to-be homeowners aren’t excluded from the foreclosure market. Despite the struggling housing market and economical anxieties, realtors believe this may be a great time to consider finding the dream for your first-time home ownership. Those who find themselves investing into the foreclosure marketplace could come out on top. It is possible to buy a house that’s two-car garage, a fireplace, and two bathrooms for 350 dollars per month, with insurance and taxes. Take these tips with you and you are sure to get a good idea to if the property is a suitable investment for years to come.

Top 3 Best Office Locations in Singapore

Singapore is an excellent location for many businesses. Whether you are looking to start a local business or your business is branching out to foreign markets, the economy, location and business district in Singapore can help you grow your business and take it to the next level. If you want to locate your business to where all the action is, here are some of the locations where you may want to consider locating your business within Singapore.

 

 

 

Central Region

One of the easiest places to find a Singapore office location that meets your needs is the central region of the city. This is where you will find the Central Business District. It is where all of the corporate action takes place. The Central Business District is home to many financial institutions, corporate headquarters and retail spaces. While the district contains everything that a business would want to be around, it can also be expensive, especially for startup business. Many office space rentals in premium buildings will be high, but there are pockets of the district where you can still find a bargain.

 

 

The economic and financial heart of Singapore, the Central Business District or Central Area, is easily accessed via Raffles Place MRT Station.

 

Orchard Road

If your business is in the entertainment or retail industries, the Orchard Road area is a perfect place for your business to locate in Singapore. The area has great infrastructure for business offices as well as being located conveniently near hotels and other amenities for foreign travelers. Some of the most popular office buildings with spaces for rent include Paragon Tower, Shaw House and The Hereen.

[gmap addr=”Orchard Road Singapore”]Orchard Road Singapore[/gmap]

 

Orchard Road Singapore

 

 

Beach Road

If you are looking to save a little more money on your office space, you can check out what is available on Beach Road and the North Bridge Road area. This area does not look like a typical high-finance commercial district. Instead, most of the district consists or residential areas, shopping centers, smaller hotels and markets. However, if you want to rent office space in places such as Parkview Square, KeyPoint, Odeon Towers or High Street Centre, you will be able to get a much more affordable deal.

 

Beach Road Singapore

 

 

The key to finding the best district in Singapore to locate you business is to understand what each area offers and what it lacks. If your business plans to attract customers to your location, you will want to look for more residential areas with easy access to public transportation. If your office needs to be by banks and corporate headquarters, finding a prime spot in the business district is the way to go.

 

Overview of Pavilion Residences, Kuala Lumpur

With Kuala Lumpur becoming a major economic center in its own right, it is no surprise that many people are looking to move to the city. People everywhere will be glad to see that they can get refined and luxury accommodations when they choose to live at Pavilion Residences. This is an expansive complex that will help many people get used to the city life that they will find in Kuala Lumpur. But there are a few key steps that people should keep in mind about the Pavilion Residences. It may help to get a basic overview of what the complex really has to offer.

First, most every prospective resident will appreciate the types of features that they will find when they stop in here soon. Most users will want to check out how they can secure air conditioning and a balcony in their unit. This will help them get an impressive view of the surrounding cityscape in the area. Most users will appreciate that they can even access wireless internet from their apartments. This will help them stay connected to the net at all times. Since the building plays host to many young people and working professionals, this is a must-have feature to secure.

 

Pavillion Residence Photo

 

 

Pavillion Residence

 

Pavillion Shopping Mall

 

 

pavillion-residences_photo02

 

 

 

 

Pavillion Residence Tower 1

 

 

KLCC Pavilion Residences

 

 

There are a few specific features of the complex that will help set it apart from all other residences in Kuala Lumpur. The building itself is centrally located, which will prove to be convenient for most people. But the building also offers residents their own barbeque area and swimming pool for people to enjoy. Most people will want to check out how they can secure support through a few different types of features. This building will even be important when people want to learn more about hosting major events in the area.

New residents at this location will undoubtedly be impressed by the sheer amount of different venues in the area. They will be able to find out more information about the shopping features that they can find through here. There is the Pavilion Shopping Mall located nearby, which will undoubtedly appeal to everyone out there. There are actually over 450 different retail outlets within the mall itself. There are also a number of different restaurant venues, adding to the overall appeal of the location. Most people will be glad to be able to explore some of the surrounding areas to experience all that the community itself has to offer.

It will be vitally important for people to think about how they can book these rooms soon. There is an application process that people need to secure when they want to find a Pavilion Residence for sale or rent. They should work with the staff on site, who will be able to showcase some basic models. Most people will appreciate that they can secure the best all around features when they want to enroll in the program. It will also give new residents the opportunity that they need to head to the center soon.

Useful Tips: Public Access and Amenities in Kuala Lumpur City Center

 

Map for Pavilion Residence Kuala Lumpur

[gmap addr=”Pavilion Residences Apartments Kuala Lumpur, Jalan Bukit Bintang, Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia”]Pavilion Residence Kuala Lumpur[/gmap]

 

 

 

 

 

 

3 Most Cost-Effective Types of Office Spaces

When looking at offices, many new entrepreneurs realize they will have to spend a significant part of the budget to find a new place. This is heartbreaking to many who do not have the funds to build their business. Fortunately, a small business owner has solutions when he or she wants to find an office for their new company. Here are the three most cost-effective office spaces options that one must consider.

 

 

 

 

Virtual office:

With a shared office, one can save money and increase productivity as it offers a range of solutions for a company. In a virtual office space, one will find all the amenities like Internet, phone and a nice work area. At the same time, when using this office type, one will have peace and quiet and plenty of room to move around. Furthermore, one can choose the rental length, so they only have to rent the office space when they need it. This is a serious advantage as most small business owners cannot afford to dole out rent money month after month. When looking for the best solution, one should consider a virtual office as it offers the most cost-effective solution for a person on a budget who still wants a quality place to finish their job.

 

 

 

 

Home:

A lot of new entrepreneurs start their company out of a spare room or garage. This offers a great benefit as the business owner will not have to pay any rent and can ramp up the operations slowly. However, this will present serious problems when the owner starts to hire employees or contractors to complete daily tasks. Furthermore, with a home-based business, one may run into zoning and other government regulations that will cost money and time. However, when starting out, one can consider this option as it is a viable alternative to expensive office space.

 

 

 

Industrial park:

Some people who do not want to impress clients too much rent from an industrial park area. This is a decent option when a business owner does not have customers visiting the site. With this option, a business owner will have easy access to shipping companies, post offices and other B2B services. Sadly, when looking to build a solid and long-term presence that impresses customers, this is not a formidable choice. On the other hand, when looking for an inexpensive and cost-effective solution that works, one should consider renting in an industrial park.

 

 

 

 

Many, when they want to rent an office space, do not research their options. This is a mistake as a company can save a lot of money and still find a solution that meets the needs of customers and employees. Luckily, the most cost-effective and efficient solution is to rent a virtual office as this option allows the company to use office space as market conditions merit. At the same time, employees and clients will feel comfortable when they see a beautiful office space with all the amenities that one would want in a professional office setting. Search for more office options here.

 

What Do You Do At Real Estate Open Houses?

Open houses are commonly associated with real estate as a way to open up a home to the public and showcase the property that is for sale. Although it’s a great time for a walk-through, many people are unaware of what to expect at real estate open houses or what goes on during the event.

 

Explore the Property

Open houses give other people in the community a chance to look at the features and details of the house to get a closer look than when passing by. Only so much can be experienced on the street, but once walking into the home, it easily sparks buyers’ interest who can easily be sold just on the interior of the property.

 

Ask Questions

Houses are rarely sold without a series of questions asked by the buyer, making an open house the right time for the agent to provide answers without anyone feeling rushed. It makes it easier for the agent to showcase the best features of the property first-hand and form a relationship with potential buyers.

When owners are not present at the open house, it makes it easier for the difficult questions to be asked without visitors feeling hesitant or intimidated.

 

Advertise

Open houses are often hard to miss in communities where it’s a time to advertise both locally and on the Internet. Agents often display large signs in different neighborhoods that direct drivers to the property, along with advertisements on several real estate sites.

The open house can also be featured alongside the latest real estate news in the community online or in newspapers, making it easy to attract those in the market for a new home.

 

Crunch Numbers

For buyers, the offer they are willing to make when they want to invest in real estate is dependent on the condition of the home and any underlying issues that may be present. If appliances are outdated or a roof needs to be replaced, it will factor into the offer made, making it easier to calculate an appropriate offer during an open house.

It can also be a time for the agent to explain the price of the home and what features have been remodeled or upgraded, between light fixtures to granite countertops in bathrooms, to highlight the home’s best features in a positive way.

 

Create a Cozy Atmosphere

A house is never truly a home through photos of general real estate listings when people search for property online. By welcoming them in to a friendly environment with fresh cookies or treats available, it allows them to view it as a cozy property that has attractive decor and a warm setting instead of just a stranger’s house.

It can be difficult to imagine the potential of any home, but with an open house the agent works to furnish the property in a way that complements its features and makes it feel like home between fresh flowers displayed in the kitchen to decorative towels hanging in the bathrooms.

 

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