Buying A Luxury Property In Kuala Lumpur – 5 Things To Consider

Malaysia is a paradise equally for residents and foreigners. The geographic, economic and social scenarios provide the perfect blend for the same. Investing money with the minimum of risk at Malaysia real estate, is a wisest decision. The intended property in Kuala Lumpur brings a stamp of luxury to your investment. Can you turn a blind eye and trust the most vivid advertisement from a luxury builder? Blind trust does not work when money, that too in corpus level is going to flow.

Five points, prompting you to think first and act second

Not many theories, go through these five practical considerations which should assist you to move ahead for the luxury buy in the ‘Garden City of Lights.’

 

  1. Be concise about the location and the type of property you want to invest. Kuala Lumpur is metropolitan city and the largest city in the country Malaysia. An online search for Luxury Property For Sale in Kuala Lumpur would give tens and thousands of hits. What is your timeline of investment? Do not stretch, but narrow down the attributes you seek in the property such as building type, social status, proximity to landmarks, vacation spots, international significance, and commercial access. Take, for example; the KLCC brings you close to the Petronas Towers while Bangsar encloses you between investors looking for a peaceful stay.
  2. Clarify your knowledge; about the legal formalities and financial implications for the jurisdiction of the property and your citizenship. Being the capital city, Kuala Lumpur has laid down a set of regulations and paperwork to be satisfied by foreign investors inching towards spending millions of currencies. The minimum reserve for property investment in 2018 was 1 million Malaysian Ringgit, and stamp duty was 4%. Hence, the property should value above that.
  3. Study the builder and their performance on-ground. Since the market was sluggish in the past years, builders have lately found more interest in the properties of the middle segment. However, the luxury property segment still rules in many prominent projects. Before fixing the deal, have a background check of the shortlisted builders. Even the leaders, because the building materials, insurance agreements, brand value, and after-sales maintenance differ each year.
  4. Identify your prospects with the invested property, short-term and long-term. What is your purpose of investment? Is it purchase and keep in hand policy, purchase for commercial benefit or a sooner or later residential destination? In the year 2017, the city registered a 5.1% increase in house prices with the real estate going the same roller coaster ride. Ten years from now, your estimates should be closest to reality as possible.
  5. Buying does not end your work. Check on your local support to maintain the luxurious quality of your investment. Once the purchase formalities are knocked down into pieces, the associated actions like taxes, maintenance, commercial extension or modification must not pose a meandering task for you. Clear out the options within the region for all of the above before transferring the agreed investment.