Buying property in Malaysia
Discussion
Always enjoy reading the Asia forum and reading the stories of Msia and Sing antics, reminds me of my times back there
Since there are a few here, thought I would ask for a bit of advice buying property in Msia, specifically KL. My wife is from Msia and still has her passport and we are looking to move back over there before our son starts school. I have found my job is directly transferable (Same laws/regime.. thanks British colonisation!)
The issue is regarding buying a property. She hasn't lived there for over 15 years now and doesn't know how the system works. I will be the main (If not sole) money earner when there, is it easy for a foreigner to get a mortgage?
My wife is Chinese rather than Malay, which I know affects a few of the "rules". We are back out there in Jan/Feb for CNY, so will be seeking advice when there but thought I would get an early start by asking the PHers
Cheers
Since there are a few here, thought I would ask for a bit of advice buying property in Msia, specifically KL. My wife is from Msia and still has her passport and we are looking to move back over there before our son starts school. I have found my job is directly transferable (Same laws/regime.. thanks British colonisation!)
The issue is regarding buying a property. She hasn't lived there for over 15 years now and doesn't know how the system works. I will be the main (If not sole) money earner when there, is it easy for a foreigner to get a mortgage?
My wife is Chinese rather than Malay, which I know affects a few of the "rules". We are back out there in Jan/Feb for CNY, so will be seeking advice when there but thought I would get an early start by asking the PHers
Cheers
Thanks Berw, very helpful.
I didn't realise the private schools went up as high as £20k/year. My wifes aunt lives at Mount Kiara and recommended the international schools there, any ideas how good they are?
Also, is the mortgage situation the same for commercial property? I was offered an office near the Tesco at Old Kent Road last time we were there and thought better of it so didn't explore the money situation.
Everyone says it, but I have yet to be caught in a KL traffic jam i the 4 times we have been over. I once got stuck outside Low Yat for about 10mins but that was because there was a huge downpour and half the bikes were skidding to the ground.
In terms of other stuff, I have been told the income tax is lower and I can bring two cars imported tax free. This was by the marriage certificate admin staff, so I am not wholly believing it (Especially as she said the penalty for not registering marriage in Malaysia was "big" and turned out to be 50RM)
I didn't realise the private schools went up as high as £20k/year. My wifes aunt lives at Mount Kiara and recommended the international schools there, any ideas how good they are?
Also, is the mortgage situation the same for commercial property? I was offered an office near the Tesco at Old Kent Road last time we were there and thought better of it so didn't explore the money situation.
Everyone says it, but I have yet to be caught in a KL traffic jam i the 4 times we have been over. I once got stuck outside Low Yat for about 10mins but that was because there was a huge downpour and half the bikes were skidding to the ground.
In terms of other stuff, I have been told the income tax is lower and I can bring two cars imported tax free. This was by the marriage certificate admin staff, so I am not wholly believing it (Especially as she said the penalty for not registering marriage in Malaysia was "big" and turned out to be 50RM)
Thanks Nick
Good to hear personal experience about the school. Our son hasn't started here yet, (and its been a while since I was last there), but how many terms are there? 4?
Not moving there particularly to be close to inlaws, although I get on with them great. We had a quick look round last time we were over and the condos in the area are a decent size and price for 5yr old build. A few of the landed properties weren't too bad either, but the inlaws advised against it due to thefts etc
The office would be based in Petaling Jaya, I did a run last time at "working time" and it took me 30mins, which considering my commute now in UK is currently 2hrs each way would be wonderful.
The public transport is shocking though. We got a bus once from KL Sentral back to the inlaws and it was ok once it actually turned up. I did enjoy the attention for the full 30min or so journey, 6ft 4 tall guai chai on a bus meant I earnt the stares of the whole bus for the whole journey! The Metro was quite good though I found, if limited in destinations.
Agree on your point regarding if its "right". I love being over there on holiday, but may not feel same when working. The company have said that I could do a 3/6 month term and see how I go, so not as committed if it doesn't work out.
Good to hear personal experience about the school. Our son hasn't started here yet, (and its been a while since I was last there), but how many terms are there? 4?
Not moving there particularly to be close to inlaws, although I get on with them great. We had a quick look round last time we were over and the condos in the area are a decent size and price for 5yr old build. A few of the landed properties weren't too bad either, but the inlaws advised against it due to thefts etc
The office would be based in Petaling Jaya, I did a run last time at "working time" and it took me 30mins, which considering my commute now in UK is currently 2hrs each way would be wonderful.
The public transport is shocking though. We got a bus once from KL Sentral back to the inlaws and it was ok once it actually turned up. I did enjoy the attention for the full 30min or so journey, 6ft 4 tall guai chai on a bus meant I earnt the stares of the whole bus for the whole journey! The Metro was quite good though I found, if limited in destinations.
Agree on your point regarding if its "right". I love being over there on holiday, but may not feel same when working. The company have said that I could do a 3/6 month term and see how I go, so not as committed if it doesn't work out.
Edited by 3sixty on Wednesday 22 August 06:58
I guess I'm never going to know the traffic situation until we move. I will take a look at PJ properties when we are back over in Feb.
I have to admit, that day to day spending I find KL cheaper. For big ticket items like TVs, cars, sofas etc it does seem expensive. But for things like eating out, fuel, clothing etc I find it a lot cheaper.
Thanks for the advice re the cars bringing over and buying there. The downstairs parking at the inlaws condo makes for some interesting viewing. I actually found myself looking over the old Nissans rather than the Ferraris and Porsches parked at the back. Some awesome old jap cars around and seem to be fairly cheap. My eyes did water when I saw the price of a new Chevy Cruze Sporting.
I am a QS by background, but went into construction tax after I got my APC as work began to slow. $800US a day as a minimum? f
king hell, where can I sign up? I'd be happy with half that! I am obviously in the wrong game, no O&G experience, mine was all resi/hotel/office with a bit of public (Hosp, schools etc) and a few civil projects.
I have to admit, that day to day spending I find KL cheaper. For big ticket items like TVs, cars, sofas etc it does seem expensive. But for things like eating out, fuel, clothing etc I find it a lot cheaper.
Thanks for the advice re the cars bringing over and buying there. The downstairs parking at the inlaws condo makes for some interesting viewing. I actually found myself looking over the old Nissans rather than the Ferraris and Porsches parked at the back. Some awesome old jap cars around and seem to be fairly cheap. My eyes did water when I saw the price of a new Chevy Cruze Sporting.
I am a QS by background, but went into construction tax after I got my APC as work began to slow. $800US a day as a minimum? f
king hell, where can I sign up? I'd be happy with half that! I am obviously in the wrong game, no O&G experience, mine was all resi/hotel/office with a bit of public (Hosp, schools etc) and a few civil projects.XJSJohn said:
Plenty of work for you in JB too then, have a look at the Iskandar project, quite a few mates are involved in the building of the hospitals, schools universities and pharmaceutical labs there.
Also, don't undersell your rate, it is very hard to climb up if you start off too low.
Initially the thread was regarding me moving with my current job, but that project does look good and a way back into QSingAlso, don't undersell your rate, it is very hard to climb up if you start off too low.
Not really underselling, I am more than happy to speak up for myself, just the $800/day astounds me. Forgive me if my maths is incorrect as its early here, but $800/day equates to very crudely £12k/month (And this was after tax?)
The ceiling here for a QS with less than 5 years is £40k pre tax so circa £28k after tax, as shown by the RICS survey, compared to £144k a year for the O&G mentioned here... staggering!
Thanks Nick, agree with most of your points about prices and understand the car mechanic thing. The local mechanic we went to last time had a sideline of selling durian and spent more time trying to sell us some than he did diagnosing theproblem (His answer was literally "dunno lah"!)
Its hard to say whether working there will suit me, but I do know I would enjoy the lifestyle, the food is amazing and things being open past 7pm is great compared tohere in UK where your only option is cinema or pub after this time (Mid Valley bowling at 3am is recommended!)
Lots of things to consider, but if nothing else I can get 6 months of ikan bakar and roti tissue then it will be worth it.
Its hard to say whether working there will suit me, but I do know I would enjoy the lifestyle, the food is amazing and things being open past 7pm is great compared tohere in UK where your only option is cinema or pub after this time (Mid Valley bowling at 3am is recommended!)
Lots of things to consider, but if nothing else I can get 6 months of ikan bakar and roti tissue then it will be worth it.
Wow Berw, sound like you have crossed the many boundaries I have. I worked as a QS for 5 years and have now been working for over a year in a Big 4 doing Construction Tax and Capital Allowances.
Very interesting though, thanks. I may give you an email tonight when I am back home if that's ok for a bit more info as I'm not sure my background will fit a contract manager role (But the definition may be slightly different than over here)
Really appreciate the replies, although we have slightly gone off the original topic!
Very interesting though, thanks. I may give you an email tonight when I am back home if that's ok for a bit more info as I'm not sure my background will fit a contract manager role (But the definition may be slightly different than over here)
Really appreciate the replies, although we have slightly gone off the original topic!
Holy thread resurrection batman!
Just got back from 3 weeks for CNY and now more determined than ever to buy over there and possibly relocate if I can find a job
We spoke to a few agents and visited a few developments and we were told by all we need to pay 30k RM for a government permission as a foreign buyer and we can also buy nothing for less than 500k RM I'm Malaysia or 1mil in Penang. I guess this is to prevent foreign investors taking all the cheap houses, which seems fair
Is the above true? Has anyone done this? Could I kopi money my way out of the 30k permission or do I even need it as I could buy it in my wifes name who is Malaysian?
One final question, what is the equivalent Malaysia site of jobsearch etc? I am trying to look for Quantity Surveying jobs out there
OT: Berw sorry we missed each other when I was out there, I sent you a few mails but no reply? Not sure if they got through or you are just snowed under at work
Just got back from 3 weeks for CNY and now more determined than ever to buy over there and possibly relocate if I can find a job
We spoke to a few agents and visited a few developments and we were told by all we need to pay 30k RM for a government permission as a foreign buyer and we can also buy nothing for less than 500k RM I'm Malaysia or 1mil in Penang. I guess this is to prevent foreign investors taking all the cheap houses, which seems fair
Is the above true? Has anyone done this? Could I kopi money my way out of the 30k permission or do I even need it as I could buy it in my wifes name who is Malaysian?
One final question, what is the equivalent Malaysia site of jobsearch etc? I am trying to look for Quantity Surveying jobs out there
OT: Berw sorry we missed each other when I was out there, I sent you a few mails but no reply? Not sure if they got through or you are just snowed under at work
Thanks Deadlock, apologies for the kopi mention, was more in jest rather than a serious point.
I am not sure on the criteria for the "being foreign" when buying the homes. My wife is Malaysia, but hasnt lived or worked there for 10 years now, do they expect a Malaysian income to avoid the limits on property prices?
Will look on the job site, thanks. Berw is indeed very connected and has helped me immensely so far, but my experience in his field is hindering me, hence why I need to broaden my search to QS'ing in general
I am not sure on the criteria for the "being foreign" when buying the homes. My wife is Malaysia, but hasnt lived or worked there for 10 years now, do they expect a Malaysian income to avoid the limits on property prices?
Will look on the job site, thanks. Berw is indeed very connected and has helped me immensely so far, but my experience in his field is hindering me, hence why I need to broaden my search to QS'ing in general
-DeaDLocK- said:
3sixty said:
I am not sure on the criteria for the "being foreign" when buying the homes. My wife is Malaysia, but hasnt lived or worked there for 10 years now, do they expect a Malaysian income to avoid the limits on property prices?
I am not a lawyer, but would be very surprised if her absence from the country affects her right to purchase at all.The banks can be quite flexible with proof of income. If you can prove marriage (easy) and prove your income (hopefully easy), my educated guess is that they can make it happen. A relatively large down payment (30%??) would help make it easier as well.
Many people here pay no income tax at all and get mortgages with no issue, even though in theory (if you go by what is written on the bank websites) your calculated earning is based on how much income you declare in your tax return...
Gassing Station | Asia | Top of Page | What's New | My Stuff