Find Property and Real Estate expertise in Malaysia
The property market in Malaysia is efficient with low transaction costs. The market was hit by the global economic crisis of 2008 but has since recovered. Foreigners wishing to buy property in the country are free to do so (with a minimum property price tag of US$145,383). Permission should also be sought from the Economic Planning Unit. Buying costs are considered to be fairly low, but this is offset by the high rental income tax – which is a flat rate of 26%, and after five years is subject to real property gains tax at a further flat rate of 5%. The estate agent sector is established and organised. Only registered valuers, appraisers and estate agents may provide these services in the country. Registration and regulation of the profession falls within the purview of the Board of Valuers, Appraisers and Estate Agents Malaysia. Those seeking to do business with a property agent or valuer can check on the Board’s website to see if that person is registered. The Malaysian Institute of Estate Agents (MIEA) is the recognised body representing all estate agents in the country.
|Property and Real Estate organisations in Malaysia|