# House in Malaysia



## marenostrum (Feb 19, 2011)

Hi,

Square Metre Prices in Malaysia | Global Property Guide

I was having an interesting read on property in Malaysia.

I have been a few times to the country and I really like it. My favourite place is Langkawy followed by KKinabalu.

My question is how safe would it be to own a home in Malaysia which is empty for eight months of the year? Would there be problems with burglaries or squatting. 

For those who don't know squatting is a practice used in some European countries especially the UK where people gain entry into an empty home and cannot be evicted straight away. The whole thing has to go through a court process before the owner can action eviction. This is apparently to protect the civil rights  of the people who are taking over your house, madness but this is true.

So back to my question, if one owns a house in Langkway and only uses foru months of the year what are the dangers.

thanks


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## chong (Feb 16, 2012)

no squatting issue in Malaysia, but please check with local authority before buying property in Langkawi because most of the land belongs to the native (malays reserve). always read the property title / grant to see if any restriction.


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## tolga (Jan 30, 2013)

which part of malaysia is the best for find job and living? 
i m thinking to move malaysia(especially KL side) but i have not much idea about malaysia. 
seeking a flat or room by many websites here. please help me about living cost, find a life in there..
Thanks.
(by the way i m male and photographer from istanbul/Turkey)


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## MMI (May 9, 2012)

We have an apartment in KL so I can't tell you about Langkawi or KK.

What I can tell you is the following:
- Look at the Malaysia My Second Home Scheme. This will give you a proper visa to reside in your house and most of what you put in can be used to buy the property
- The maximum that you will get for a mortgage (if you need one) is 70% and this will not be easy as Malaysian banks usually want you to reside there and have an income there
- Closing on a property will take longer than you think or than anyone tells you (ours took 6 months to get all of the paperwork done, this means that it is a long time to buy and a long time to sell)
- There is no capital gains on property in Malaysia (which is good) but think about what this means if you are paying tax elsewhere
- There is quite a high overhead managing a property there. It is not easy, for example I can't pay my mortgage from my HSBC account and have to courier checks to ING to pay it
- I would also look at the Perintian Islands, I think that they are one of the most beautiful spots in Malaysia


Hope that these observations help.


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