House For Sale In Kuala Lumpur Buying Tips
There are chances that you may falling in love with Malaysian beautiful city, Kuala Lumpur and make it your permanent home, second home or purchase a house here as your vacation home. As for investors, properties in Kuala Lumpur are among the highest in value. In this article, we will give you some guides and tips for foreigners to buy a house in KL.
If you are looking to buy a house in Kuala Lumpur, look for the one that are located near to your workplace and make sure to check that they are near to other facilities for your convenient. Houses that are located within a distance from the cities provides you with commercial opportunities and also all kind of entertainment. However, the closest the property to the city areas means the cost will also be expensive.
Alternatively, if you like a more quieter and peaceful neighbourhood, go look for the areas that not so close to the city. There are also several advantages like you will get much bigger house and it cost lesser that those houses that nearer to the city. The again, you can also find an apartment or condominium. Buying this type of properties will give you more facilities like swimming pools, security guards, grocery stores and laundry service at your doorstep.
When buying a property in KL, look for neighbourhood which provides convenience and comfort. Visits the location, survey the areas and check if there are a clinics, shopping areas and eateries. This will make you life easier as you don’t have to far to get what you needed. You could also check the background of the areas and find any anomalies that you can find. If you know someone who is living in Kuala Lumpur, ask them about the area or ask the people who are familiar with that place. Don’t ever make a rush conclusion when purchasing a house for sale in Kuala Lumpur, plan and decide carefully. Narrow down your list and buy the best house you find.
Under the Malaysian Foreign Investments Committee guidelines, foreigner are permitted to purchase or buy certain categories of commercial, shop houses, residential units, office spaces either newly launched or old buildings. However, the foreigners can only purchase a properties that are below RM150,000 except for an industrial land.
The foreigners also do not permitted to buy single or double storey terraces houses, flats, low cost houses and medium cost houses. While for commercial properties, foreigners do not permitted to buy single storey or double storey shops lots, stalls, low cost shops, service workshops and malay reserve land. Finally, the foreigners cannot buy agricultural land to grow Malaysian traditional agricultural resources like oil palm trees and rubber.
All propery bought must first be approved by FIC regardless of the values, and if acquire, the property bought can’t be sold within the first 3 years from the date of acquisition. The foreigners however, are allowed to get a loan or finance from local banks if the property applied is approve for purchase.