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Malaysia Brings a little of West into the East
June 1, 2010Article by Ray Withers
Malaysia property will always be the popular choice for British buyers in Asia, because it is pretty much the only Asian country that British people feel safe about buying in.
Asia is the Far East, foreign languages, massive populations, big congested and crowded cities, and a culture about as different from our own as you can imagine. Most people are scared to go to many places in Asia on holiday, let alone buy property there. But they want to buy property there because of the massive job opportunities or investment potential. This is a quandary and Malaysia is the answer.
Malaysia is a former British colony and British rule has really left its mark. Here are some of the reasons that make Malaysia property the ideal choice for Brits wanting to buy and/or move to Asia.
English Widely Used and Understood
It is a surprising fact that English is fairly widely used and understood throughout Asia, as it is in most of the world. However, in Malaysia this is especially true because of formerly being under British rule.
Buying Process Similar to Britain and Contracts in English
The title is pretty self-explanatory here, but all contracts in the purchase of property are completely in English, and the process is very similar to that of buying property in the UK.
Foreigners can get Mortgages
Mortgages are easily obtainable for foreigners buying in Malaysia, with Maybank serving foreigners as well as the likes of HSBC who operate in Malaysia.
First rate healthcare
One of the biggest remnants of British rule is the first-rate healthcare system on offer in Malaysia. It is a massive weight off people’s minds to know that their health will be as well looked after in Malaysia as it is at home. This also adds to the growth potential of Malaysia property in many cases, because of growth in medical tourism in Asia and around the world.
On top of all this, Malaysia is seeing strong economic growth. In fact, Malaysia is not growing as quickly as the likes of China and India and others in Asia. This was previously seen as a downside, but since the crash stability has reigned supreme, and the fact that the Malaysian economy and Malaysian property has always retained steady growth is now a major plus in its favour.
The tax regime is also a draw, according to international property investment consultancy Property Frontiers, who note the prevalence of those buying to inhabit rather than speculators who dominated the market before the crunch.
Director David Cox said:
“We have seen Malaysian property purchases dominated by those buying to move to Malaysia over investors. The main reasons we are hearing is better job opportunities and a better way of life.”
Property Frontiers are currently marketing Malaysian property from as little as £90,000 for a 3 bedroom city center apartment.