Real Estate - Property Guide

Due to the strong growth of economy, Malaysian property market has raised significantly in the last years.
The attraction of the property market comes from various reasons, some of them being:

Fast expanding tourism market and the high demand for commercial and residential property in the capital which is one of the fastest growing in the world.
The prices for real estate in the capital are lower than those in other countries and there is high potential for short term profit or long term investment.
Malaysia has a very stable property market based on the economical strength.
Many foreigners are working in the capital and this has pushed the demand for rented apartments and for properties in general which makes the capital a best place for buy to let investment.
The off plan properties are a very attractive offer to the sole investor or to corporations.
Before buying, it will be better to hire a local lawyer to help you go trough the buying process. Also before deciding to buy it will be wise to have a survey done. As a non resident, in order to buy a property you need to get first an authorization.
If the investor has chosen to buy a property, he has to send an offer letter to the vendor. Once agreed upon, a 10% non refundable fee has to be paid in advance. In case of withdrawal, the buyer loses the fee.
The buyer is given 3 months to complete the transaction. After completion the title deeds are transfered into the name of the property investor.

Real estate trade association

Name: Institution of Surveyors Malaysia

The Institution of Surveyors, Malaysia
3rd Floor, Bangunan Juruukur,64-66, Jalan 52/4, 46200 Petaling Jaya, Selangor, Malaysia

Tel :
603 - 79551773 / 79569728 /79548358
Fax :
603-79550253
Email :
secretariat@ism.org.my
Valuers, appraisers and estate agents in Malaysia (similar to US) are regulated by law to ensure that only those who are registered can engage in real estate brokerage business. The Valuers, Appraisers and Estate Agents Act 1981 (Amendment) and its rules of 1983 (Amendment) states that only registered valuers and appraisers who have been licensed can be involved in real estate private practice in Malaysia. License is granted after a taking a coursework and passing an examination.