Malaysian Ringgit RM: Approximately RM3.79 = US$ 1. The cost of living is among the lowest in Asia. Regardless, Malaysia provides an excellent modern infrastructure including extensive but relatively low cost transportation services.

Economic climate: Foreign residents must obtain a Social Visit Pass, (valid for 5 years) which requires proof of a minimum deposit of US$ 39,600 with a local financial institution and a monthly offshore income equivalent to a minimum of US$ 2,000 per month and US$ 2,650 if accompanied by a spouse.

Popular buying areas: High-end residential property in the affluent Klang Valley continues to dominate the residential market. Other favoured areas are Bandar Utama, Kota Damansara, Sunway Damansara, Mutiara Damansara and Langwaki.

Price ranges: Vary as ever by quality and popularity of area but Malaysia offers a very wide spread of pricing bands. A 20% deposit of the house value is usually required.

Budgetary guide: Condominiums: US$ 66,000 to US$ 250,000, Bungalow: US$ 66,000 to US$ 225,000, Two Storey Bungalow (5 to 7 bedrooms): US$ 396,000 to $US 1.3 million, Luxury Villas: average US$ 925,000 upwards.

Overseas Investors: Foreign owners are permitted to buy up to two houses at a cost of not less than US$ 66,000 each, which also entitles them to a housing loan from a local bank. If selling a property they are subject to 30% Capital Gains tax.

Service Fees: Stamp, Transfer, Agreement and Registration Duty 1.5% to 1.75%, Loan Agreement 1.5% to 1.75%, Estate Agents Fees 3% up to US$ 132,000 2% thereafter. Bank loan processing fee US$ 13 US$ 53.

Mortgages: Loans of 60% of the purchase price are available to foreigners on the proviso that the property value is RM 250,000 and above. Current Base Lending Rate 6.8% per annum; loans are available up to a period of 20 years.

Information: Web access www.star-space.com (Malaysian Property information) www.mocat.gov.my (Malaysian Ministry of Culture, Arts & Tourism), www.kdn.gov.my (Malaysian Ministry of Home Affairs) www.fxhistory.com (exchange),



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