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People looking to buy property in Malaysia will be happy to know that there are no restrictions on foreign ownership of Malaysian property, in fact residency is automatically guaranteed for property owners depending on visa status. And last but not least, Capital Gains Tax in Malaysia has just been abolished.
Malaysian banks are eager to issue mortgages to overseas citizens. Malaysian mortgages are generally issued up front and local terms are often very liberal when compared to other countries, while some people can even secure up to 85% finance.
Although recent conditions have pushed interest rates to 6.75% from about 6% at the start of 2006, Kuala Lumpur property has still seen a boom in the kind of high-end condominium development that expatriate buyers and renters demand.
As a foreigner, you are normally allowed to borrow up to 70% and in most cases, Malaysian banks are more than willing to finance your Malaysian real estate purchase. Loans are granted on the proviso that the property value is RM 250,000 or more. There is no upper limit to the cost of properties that may be purchased by overseas purchasers of property in Malaysia. The current base lending rate is 6.8% per annum (end 2006). Loans are for a maximum period of 45 years or up to age 75, whichever is earlier.
View a selection of typical Mortgage Deals.
Finding a loan in Malaysia can be complicated and confusing because of the banks’ increasingly competitive interest rates and aggressive marketing. We offer to help you to find your ideal loan. We make finding your loan easy. We compare the various loans and recommend you the loans most suited to your needs.
We offer you choice, convenience and a high quality service.
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