Malaysia property-buying process 'simpler than eastern Europe'
Malaysia property-buying process 'simpler than eastern Europe'
Purchasing a property in Malaysia can often be simpler than buying in eastern Europe, it has been suggested.The Far East is "one of the most exciting property investment markets" Judi Williams, marketing manager for Property Frontiers, believes, with Kuala Lumpur in Malaysia becoming a particularly attractive acquisition location.
A large expat community and a coastline rich in beauty are the main reasons for this popularity, but the fact that capital gains tax in Malaysia was abolished in April 2007 can also been seen as a driving factor.
What's more, the buying process is far from complicated, as Ms Williams explains: "It is a generalisation to say that buying property in Europe is straightforward as the taxes and laws change dramatically from one country to another, as they do in parts of the Far East.
"The buying process in parts of eastern Europe is far from straightforward, whilst it can be a lot simpler to buy in an English-speaking country, such as Malaysia, where their laws closely resemble ours."
By way of contrast, the countries of
India, Vietnam and
China, while being excellent areas to buy in, have restrictions on foreign ownership which make it difficult to make property market acquisitions unless you are a national of the country, Ms Williams concluded.
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14 October 2007
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