I have just been having a look around, and I cannot believe the current prices you can get a high quality property in Malaysia for.
The vibrant growth centric capital Kuala Lumpur was previously an expensive place to buy property, but I could buy a 2 bedroom apartment in Jalan Sultan Ismail right now for £42,000 and an ultimate high rise luxury 3 bedroom apartment in the sought after Mont Kiara suburb for £174,000.
Things are pretty bleak in Malaysia at the minute, and growth has turned to a struggle not to contract in Kuala Lumpur. But as we all know, this will not last forever. Before the international recession began Kuala Lumpur was showing among the most impressive growth of anywhere in the world.
Asia had already endured an economic crisis in 2001, and Malaysia was busy bouncing back into a bustling vibrant capital city capable of rivalling any of the world’s great cities; with all the big names on the high-street, growing employment and good times. This has been stunted, but not crippled, and as many of Malaysia’s regional trading partners are still growing this recession should only be a short tunnel for Kuala Lumpur and Malaysia.
There are many added benefits of buying property in Malaysia, for a start there is 0 capital gains and inheritance tax, and because it is an ex-British colony all the contracts are drawn up in English, and westerners can obtain mortgages fairly easily. British buyers have the additional benefit of the buying process being very similar to that of Britain.