There’s the good – maximum 4 per cent purchase fees, mortgage availability and no CGT in Malaysia when you sell; the bad - tax on rental income is 28 per cent; and the ugly – political instability and high inflation.
An oversupply and a slowing market do not good bedfellows make. GlobalPropertyGuide.com calls ‘inflation-adjusted figures will show price falls’. Others claim Malaysia will return to a boom market in five years. Such divergent views shout: ‘proceed to buy with extreme caution’.
Income tax on rents is a high 28 per cent but average gross yields in Kuala Lumpur of 7.47 per cent (and as much as 9.22 per cent for 120 sq m apartments) are attractive, according to GlobalPropertyGuide.com. (No stats for holiday resorts.) Holiday lettings website holidaylettings.co.uk has 21 properties on its books in Malaysia – most in Penang. Prices start from as little as £200 per week for a condo that sleeps six.
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Amanda Lamb is on her travels finding you the ideal location for your new house
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