I still remember the day I decided to involve myself in property investment in Malaysia.
That was one of the turning point of my life.
I remember the early days when I was a new property investor and I have no clue what I was doing.
Throughout the years, I have gained considerable amount of knowledge in the area of buying and selling a house in Malaysia.
These are some of the important factors a person should know before buying a house in Malaysia.
From my years of investing in property in Malaysia, I came to understand that there are different types of property market.
The different types of property market would have it's individual rules and regulation.
For a property investor, it is good to know what can be done and what is forbidden so that we do not get ourselves in trouble.
There are basically three types of property markets in Malaysia.
One is the open market meaning that the property can be sold to anybody.
This property market covers all residential and commercial property in Malaysia.
The second is the restricted market meaning that the property can be sold only to certain person i.
Malay Reserved land to be sold to Malays only; customary land to those qualified such as in the case of "adat perpatih" in Negri Sembilan; land in Kelantan only to Kelantanese.
The third market is the controlled market where property is controlled by law, e.
rent controlled property.
In this type of market, the rent is fixed by law and a landlord cannot demand a higher rent from his tenant.
The three types of property market above is unique to Malaysia.
For a property investor, it is important to know what type of property it is when you are doing your evaluation.
Due diligent is an important step a person have to take when investing in property in Malaysia.