- Malaysia real estate purchase flow
- Handpicked developer guides
- Example of payment schedule when purchasing a property
- Expenses for purchasing, owning, and selling real estate
- Appraisal, property sale/rental management support
- Malaysia where you can buy a house with land
- Ownership of Malaysian real estate
With one phone call, TOMO-chan will be there for you!
Now Accepting Inquiries!!
We are always waiting for you.
Example of payment schedule when purchasing a property
In the case of a pre-sale (pre-sale) property
Pre-sale properties in Malaysia(*1)if you buy theDepending on the progress of the construction, "Method of paying the purchase price in stages"is adopted. If a lump sum payment is made in advance, the buyer bears the risk, and if a lump sum payment is made after the property is completed, the developer bears the risk. With this method, the developer will be exposed to risks in stages, but the closer the construction is to completion, the less likely it is that the project will not be completed as planned.In general, property prices tend to rise by 20-30% from the start of sales to the completion of construction.is in
In addition, if you are purchasing a property that has already started construction, you will need to pay a deposit (about 1-3% of the property price) at the time of purchase application, a down payment (10% of the property price minus the down payment) at the time of signing the sales contract (usually within 14 days after the application), and after obtaining the consent of the state government for the completed construction part.(*2)It will be the flow of payment to.
*1 According to the definition on our website, properties before completion are pre-sales (pre-sales).
*2 Acquisition of state government agreement is one of the conditions for foreigners to purchase real estate such as condominiums in Malaysia. It takes about 3 months to obtain.
■ Example of payment schedule for "KIARA163" (Overview of expenses for purchasing real estatehere)
*The amount and timing of each payment may change depending on the progress of the construction.
* Conditions for each payment amount, percentage, and payment period differ depending on the property.
One of the world's most pro-Japanese nations, with a calm and friendly national character
If you do not use a housing loan, after the construction completion notification corresponding to the progress of construction arrives at the customer's hand,You will pay the purchase price in stages by check or bank transfer.. Also, if you have a savings account with a local bank in Malaysia, you can also withdraw from your account. The timing and interval of payment may vary slightly depending on the developer and property, but please refer to the payment schedule example above.
One of the world's most pro-Japanese nations, with a calm and friendly national character
When using a housing loan, it usually depends on the progress of constructionPay your own funds first, then release the mortgagewill be For example, if 50% of the property price is covered by a mortgage, a 10% down payment will be paid at the time of signing the sales contract, and the remaining 40% will be paid by the owner's own funds at the time of the first notice of completion of construction.
<Housing loan overview, conditions, etc.>
In Malaysia, even foreigners can use local banks,Up to 50% of the property purchase price or the lower of the appraisal valueIt is possible to arrange a housing loan up to (the loan amount varies depending on the situation and value of the property, the customer's attributes, etc.).
Mortgage borrowing period is generally up to 30 years (until the loan applicant reaches the age of 60)(Housing loan period and borrowing standards differ depending on the bank).
As of January 2015, the interest rate on housing loans is based on the base interest rate set by each local bank (three-month Kuala Lumpur interbank interest rate, linked to the current 3.90%) plus the bank's funding costs (depending on the bank).The average market rate for variable interest rate mortgages is around 4.45% to 5.05%.It is It is not mandatory to open a bank account at the same bank when applying for a housing loan.
■ Documents generally required for mortgage screening
- a copy of passport
- Enrollment certificate (years of employment, salary, position, company location, phone number) *Company stamp required
- A copy of your bank passbook with payslips for the last 3 months and transfer history
- Copy of withholding slip or final tax return (for 2 years in principle)
- Certificate of tax payment issued by the tax office (written in English) No.1 and No.2 (Reference material), or residence tax certificate issued by the municipality
- Documents that prove your assets and other income (copy of each bank passbook, etc.)
*In some cases, your bank may require you to submit additional documents.
In the case of a completed (used) property
In the case of a completed (second-hand) property, a deposit (about 1-3% of the property price) is paid at the time of purchase application, a down payment (10% of the property price minus the deposit) is paid at the time of signing the sales contract (usually within 14 days after the application), and the remaining amount equivalent to 90% is paid after obtaining an agreement from the state government (usually about 3 months later). As with pre-sale properties, mortgage loans are also available.
Tomo-chan's real estate support in Malaysia ｜ Latest real estate information ｜ Latest rental property information ｜ Purchase procedure/flow｜ Costs related to real estate transactions ｜ Malaysian property ownership ｜ TOMO's property management service
Now Accepting Inquiries!!
We are always waiting for you.
