Tag Archives: property agent

Land for Sale near KLIA, unlocking investment potential

Land For Sale Near KLIA

Discover strategy location land for sale near KLIA in Sepang Selangor, Malaysia . Triangle between KLIA, Port Klang and Kuala Lumpur City center .

Invest in Prime land for sale near KLIA in Sepang Selangor, unlock the potential for logistic warehouse, residential and resort ventures.

Investment potential Selangor, Malaysia

Features

  • Beautiful flat land
  • Freehold
  • Approx. 13 acres
  • Easy access
  • Ideally for Logistic Warehouse, Residential, Resorts

    Permanent Residence Malaysia @ My Second Home (MM2H)

    Permanent Residence Malaysia

    Being a permanent residence in Malaysia that grant you the right to reside in the country without any time constraints.

    Malaysia offers several benefits to individuals who obtain permanent residency includes*

    • Long-term residence
    • Work and business opportunities
    • Education and healthcare
    • Purchase property in Malaysia

    Eligibility Category

    Family ties with a Malaysian citizen (category 3)

    • Spouse of a Malaysian citizen
    • Biological child, step child or adopted child aged 18 and below
    • Biological mother or father of a Malaysian citizen
    • Divorcee, widow or widower of a Malaysian with a biological child who is a Malaysian citizen
    • Mother-in-law or father-in-law of a Malaysian who is holding a valid pass in Malaysia

    Family Ties with a Permanent Resident of Malaysia (category 4)

    • Biological  child aged 18 and below of a permanent resident
    • Husband or wife of a permanent resident

    Ex-Malaysian (category 5)

    • Malaysian who voluntarily renounced their citizenship
    • Malaysian who were deprived of citizenship

    Application Conditions

    • Valid travel document or passport with at lease (6) months’ validity
    • Resided in Malaysia on a valid long-term pass
    • A minimum of three (3) years’ residence in Malaysia – category 3
    • Minimum of five (5) years’ residence in Malaysia
    • Sponsored by a Malaysian aged 21 years or above
    • Divorcee / widow / widower to a Malaysian citizen who has been granted a full or joint custody of the biological child by the relevant court of law
    • Photocopies of supporting documents must be certified by corresponding foreign missions in Malaysia
    • Application in west Malaysia require a Malaysian citizen sponsor
    • Applications in Sabah and Sarawak must be sponsored by a Malaysian of Sabah and Sarawak origin
    • Both sponsor and applicant must be present during document submission at the immigration office

    ( * If you’re considering permanent residency in Malaysia please consult official advice for up-to-date information.) 

    1.  

    MM2H

    The Malaysia My Second Home Program (MM2H) is designed program to attract foreign nationals who wish to reside in Malaysia for an long-terms basic. 

    What are the benefits of MM2H*

    • Long-term residency
    • Visa flexibility
    • Financial incentives
    • Tax benefits
    • Quality of life
    • Healthcare and education

     

    Eligibility Criteria*

    • Applicants must be at least 30 years old
    • Demonstrate a minimum monthly offshore revenue of RM40,000
    • Fixed deposit must be make in any Malaysian Bank , the deposit amount varies based on the desired tier (silver, gold or platinum)
    • One-off bond payment (up to RM5,000) depending on nationality
    • An ongoing annual fees of RM500 applies
    • Recommended to purchase of health insurance 

    The exclusion of foreign spouses of Malaysian citizens was removed in February 2009 they are now allowed to apply .

    Application Process

    • Applicants must be present during the application process
    • Submit the original and copy of the participant’s passport, conditional approval letter, and form imm.12 IM.12.pdf with a photo of the participant.
    • Social visit Pass 

    Home Purchase

    • Participants are allow to purchase an unlimited number of residences above the minimum applicable price set for foreigners buying property in the state where they make the purchase
    • MM2H participants are allowed to withdraw partial amounts from the required fixed deposit to residential purchase starting from second year onwards (date of social visit pass endorsement in the passport)
    • MM2H participants are allowed to withdraw partial amounts from the required fixed deposit starting from the second year onwards (effective from the date of MM2H Social Visit Pass endorsement in the passport).

    Fixed Deposit withdraw

    Partial withdraw of the require fixed deposit  from 2nd year onwards for approval expenses to children’s education and medical expenses

    • RM50,000 for aged 50 years and above 
    • RM150,000 for aged below 50 years

    However, minimum required to maintain the balanced of fixed deposit until they termination to the programmed as follow

    • RM100,000 for aged 50 years and above
    • RM150,000 for aged below 50 years

    Dependents

    • Spouse
    • Children below 21 years of age including stepchildren and disabled children
    • Parents

    Education options

    MM2H participants have access to various educational options for their children

    • Private Universities
    • Private University-Colleges
    • Foreign University branch campuses
    • International school

    Taxes

    • 15% income tax on revenue generated within Malaysia
    • 30% real property gain tax (disposal within5 years of acquisition), tax rate reduces to 10% after 5 years

    Insurance

    All MM2H participants and their dependents must possess valid medical insurance coverage from any recognized insurance company in Malaysia

    Sale And Purchase Agreement

    Sales And Purchase Agreement

    The sales and purchase agreement (SPA) is a legally binding contract that outline the details of a property sale between buyer and seller. 

    The SPA ensures that both parties mutually agree on the terms and conditions of the property transaction, It protects by preventing either parties from altering the agreed-upon terms to their advantage.

    Upon signing the SPA the deal is essentially closed, No further negotiations can occur and both parties much adhere to the terms and specified in the agreement.

    Importance of SPA

    The SPA is a legally binding contract that outlines the terms and conditions of a property transaction, whether you’re buying a new property from a developer or a secondary market property.

    The SPA lays out all transaction details, terms and conditions in meticulous details in case anything goes wrong, there’s hard proof to fall back on, safeguarding the interest of both parties.

    SPA involves two parties which is the Seller (who sell the property) and the Buyer (who purchase the property),  The seller must legally own the property or have authority to deal with it .

    Pre-contract documents ( such as Letter of Offer or Booking Form) may precede the SPA with the buyer paying an earnest deposit to firm the deal.

    In a property transaction the Seller transfer ownership (property) to the buyer in exchange for cash payment. 

    Cancellation

    In the case of buyer need to cancel SPA there may be consequences, standard SPA’s often include a clause impose a penalty ( usually 10% of the purchase price) for cancellation. 

    But if the seller wants to exit the deal, it’s challenging to do so once the SPA is signed.

    Restrictive Covenants

    These may conditions or restrictions impose on the property include limitations on alterations, use or development  (especially in Land deal).

    Warranties and Indemnities

    Warranties are assurances given by the Seller regarding the property’s condition, title and legality.

    Conditions Precedent

    There are some conditions that must be fulfilled include obtaining financing, obtain regulatory approvals (consent to transfer) etc.

    Completion mark the transfer of ownership from Seller to Buyer, it involve the payment of the purchase price and the handover the keys.

    After completion the Buyer becomes the legal owner and any post-completion matter such as utilities transfer are addressed.

    Vacant Possession

    The Sale and purchase process for a property in Malaysia involve several parties including the vendor,  purchaser, land office, Inland Revenue Board, lawyer, developer and valuer thus times it takes can be vary.

    The entire process for sub-sale properties in the secondary market may take up to 4 months or more subject to Freehold or Leasehold property.

    Vacant possession is a legal term that means the property is in a state fit to be occupied. In simpler words, this means the delivery of access keys and cards to your newly purchased property.

    For Properties development by developers, vacant possession has to be delivered within 24 months for landed property and 36 months for high rise stratified building.

    Tenancy Binding

    The SPA is subjected to the tenancy when the purchaser is purchasing a tenanted unit. The purchaser will be getting the legal possession as the owner of the property but not the keys to the unit. Effectively, the rental and deposits shall be delivered to the purchaser by way of assignment of tenancy.

    Defect Liability

    If you have purchased a house in secondary market, you will not notice the ‘Defect Liability Period’ clause in the SPA. A defects liability period is the warranty period which the Developer is contractually obliged to repair the defects which have appeared within the period of time due to defective in construction works and material.

    Contrary to the privilege of having developer’s warranty, the purchase of sub-sale properties requires sufficient due diligence of the purchaser when viewing and inspecting the property before entering into the SPA.

    Due diligence includes checking every part of the house especially sewage, piping, leakage, electrical appliances, rooting and any other fixtures and fittings to prevent any undesirable situation arise. Should the purchaser require the repair of anything prior to vacant possession.

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    Real Estate and Property Agent Selangor Malaysia

    Real Estate and Property Agent

    Real estate agents play a crucial role in facilitating property transactions whether it involves buying, selling, renting or leasing properties.

    Our work involves a variety of features and responsibilities to provide value and ensure successful real estate transactions .

    Residential Property Selangor , Malaysia

    Real Estate and Property Agent Selangor Malaysia

    Industrial

    Real Estate and Property Agent Selangor Malaysia

    Commercial

    Land

    Real Estate and Property Agent Selangor Malaysia

    (Registered real estate agent’s in Selangor Malaysia)

    Industrial Master Plan (NIMP 2030) by Malaysia Government

    New Industrial Master Plan

    The government’s implementation of the New Industrial Master Plan 2030 to propel the country’s economic growth.

    Four missions have been formulate to drive industry transformation at a large scale

    • Encourage industries to innovate and produce more sophisticated products
    • To embrace technology and digital transformation to dive into innovative and enhance productivity
    • Pushing to net zero through sustainable practices and green initiatives
    • Safeguard the economic security and inclusivity via enabling supply chain security

    Interventions for high-impact sectors like E&E, Chemical, EV, Pharmaceuticals, Minerals and metal and due to industry’s growing trajectory to the creation high-skilled jobs

    Value-added and improvement in automation and technological advancements expected to grow the median salary in the manufacturing sector to reach from Rm1,976 to Rm4,510.

    To provide the immediate roll-out of NIMP implementation several mission-base projects have been identify. These fundamental projects are expect to accelerate the developments of an inclusive ecosystem that integrates SME’s into the value chain and rally the entire industry.

    The New Industrial Master Plan 2030 expect costing some RM95 billion in total investment over the seven year long plan period of its implementation towards higher value-added activities is expect to provide employment for 3.3 million people through the creation of high-skilled jobs.

    Amazon Web Services (AWS) invest in Malaysia by 2037

    Amazon Web Services

    Amazon Web Services announced to invest at lease MYR 25.5 billion in Malaysia by 2037.

    AWS is a subsidiary of Amazon.com, inc. by 2006.

    It is a comprehensive and widely used cloud computing platform that offers a variety of cloud services including computing power, storage, databases, analytics and more.

    Infrastructure and services

    AWS provides a vast of cloud-based infrastructure and services to individuals and businesses or organisations.

    The popular offerings include

    • Amazon EC2 ( elastic compute cloud )for scalable victual servers
    • Amazon S3 ( simple storage service ) for object storage
    • Amazon RDS ( relational database service ) for manage relational databases
    • Amazon Lambda for server less computing.

    AWS has a global network of data centres and availability zones allowing customers to deploy their applications and services worldwide while ensure redundancy and high availability.

    Played a significant role in transforming the IT industry by enable to scale their resources on-demand, reduce infrastructure costs and innovate more rapidly.

    What it can bring to country when invests in Malaysia

    When Amazon Wed Services invests in Malaysia it can bring several benefits and features to the country. follow are some of the potential advantages;

    • Job recreation – often lead to the creation of jobs in various sectors including IT, data centre operations and support services.
    • Economic growth – contribute to the country’s economic growth by attracting other businesses startups to use AWS services
    • infrastructure development – Invest in local infrastructure networking and data centre facilities to establish and operate data centres and cloud services
    • Skills development – typically provides training and certification programs to local IT professionals
    • Support for startups – offers support and resources for startups and small businesses, this can encourage entrepreneurship and innovation in Malaysia.
    • Reduced latency – having local data centres can reduce latency for businesses and users in Malaysia when accessing cloud services.
    • Redundancy recovery – builds multiple data centres in a region which can provide redundancy recovery capabilities to reduce crucial for businesses.
    • Attracting foreign investment – AWS’s presence can signal to other international tech companies that Malaysia is a favourable destination for investment to attract more foreign direct investment (FDI) and boost the country’s tech ecosystem.
    • Global reach – easily expand their operations globally leveraging AWS’s extensive global network of data centres and services.

    However it’s can also be challenges about data privacy and security, potential environmental impacts and competition with local providers.

    Government to address these issues ensure that the investment is mutually beneficial for both parties and the Malaysia economy as a whole.

    OPR Interest Rate By Bank Negara Malaysia

    Overnight Policy Rate

    Bank Negara Malaysia (BNM) cut its overnight policy rate (OPR) by 25 basis points (bps) to a record low of 1.75% .

    • Including latest Overnight Policy Rate cut, BNM has slashed the OPR four times so far this year for a cumulative 125bps reduction
    • Jan 22, 2020, BNM cut the OPR by 25 bps to 2.75% followed by another 25bps reducing on March 3 to 2.5%.
    • On May 5, BNM slashed the OPR by 50 bps to 2.00 and now with the latest low cut rate of 1.75%.

    The Impact of covid -19

    Due to the impact of COVID-19 on the global economy is severe. Global economy conditions remain weak with global growth to be negative for the year.

    Broad-based weakness in labor markets and precautionary behavior by households and businesses could affect the recovery going forward and the pace and strength of the recovery, however, remain subject to downside risks emanating from both domestic and global factors.

    Several major economies have begun relaxing measures to contain the COVID-19 pandemic, leading to the gradual resumption of economy activity. 

    OPR provides additional policy stimulus to accelerate the pace of economy recovery. The MPC  (Monetary Policy Committee) will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth.

    Home Loan & Finances

    Home Loan

    Respective Home Loan Package 

    Home loan playing an important portion on buying a house , there are many types of loans in the market that you can take to pay for the property you intend to buy. Take a look at the four most common home loan packages in Malaysia.

    Term Loan

    This is the most conventional of all the loans. You pay interest and principal throughout the tenure. In term loan has a maximum tenure of 35 years or age 70, whichever comes first. If you would like to pay more to finish the loan earlier, you will need to inform the bank before hand in order to reduce the principal otherwise the extra payment will go towards prepayment for the following months.

    Overdraft

    Overdraft, the borrowers only pay interest portion without having to pay the principal. How much interest you are charge will depend on how much you have utilise the overdraft facility. Overdraft is good for businesses because any surplus funds at anytime can be deposited into the overdraft account, therefore reducing the overdraft balances and consequently, the interest charge, which is calculate on daily rest.

    Flexi Loan

    Flexi loan is a hybrid between a term loan and overdraft, beside of monthly instalment the borrowers can do any additional repayment at any time. The additional repayment will go towards reducing the interest charge on the flexi-loan facility as the principal owing to the bank has been reduces. extra charge may incur when you pay more towards reducing the principal.

    Home Loan & Finances

     

    Islamic Loan

    Islamic loan uses the Murabahah concept under syariah principle banks will buy the property from the borrower and then rent it back to them. The bank will determine the profit rate in advance after considering the tenure duration , the fixed or floating interest rate are available but the interest on the floating rate is lower than the fixe rate.

    Next:  MRTA