# buy a property



## nz6666 (Jan 14, 2016)

I have about 400,000 Ringgit, and thinking to invest a property in Malaysia. What kind of property can I buy? I know the prices vary greatly between cities and areas, I don't have a clear plan yet, I visited Malaysia couple of times for tourism (diving etc), been to some islands and kuala lumpur and like this country, seems the best in south east asia?

I now work in UK (also as an expat) but my visa is only temporary for couple of years so not be able to get a mortgage to buy a property. So I have this money on hand but can't buy a property in UK, so I am thinking to buy a property in Malaysia. I will then rent it out whistle I am in UK but can live in it when I go to Malaysia someday.

As far as I know, foreigner can get mortgage in Malaysia? If this is possible, then my best option is to buy a property on mortgage in Kuala Lumpur. Can I then rent it out and use the rent to pay for mortgage? I mean can the monthly rent cover the monthly mortgage? I will still need to pay rent etc here in UK so will not have too much to spare each month. I am asking because here in UK this is called buy to let, and it's different to buy to live and hence incur much higher initial payment and higher mortgage rate, taxes etc. If i can't get a mortgage, what area/property can I buy one off with this money?


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## Nemo. (Feb 13, 2011)

Hi you cannot but anything,

In KL min purchase is 1 million RM, Selangor and most of country is 2 million min and has to be in a gated community. Anyway 400k is chicken feed in Malaysia for property anywhere decent!


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## Mayhem (Sep 10, 2010)

I once tried to get a mortgage in Malaysia (in 2011).
It was VERY difficult.
My wife is Malaysian and we have a Malaysian bank account but I had to show proof of income generated in Malaysia?!? I was living/working in the UK at the time.

We would have been purchasing the property as a local, but the bank was very nervous in lending me money as I was not living/employed in Malaysia

Nemo is correct, as a foreign investor there are minimum property values imposed depending on where you plan to buy. Additional information can be found here: Guidelines:Can Foreigners Buy Property in Malaysia? - Property in Malaysia

I don't, however, agree that you can't buy anything decent for RM400,000. You certainly won't be getting anything central to KL but there are many options available at that price.


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