Actually, these days I do not try and convince anyone who thinks that there are better property markets outside Malaysia. In fact, I welcome them to proceed with whatever they believe is the best. I get no commission if they buy any property in Malaysia and it’s their money yeah. The usual debate is about price. It seems that many foreign markets offer better returns than the stagnating property market of Malaysia.
Some even say that most of the developments outside Malaysia, even within other ASEAN countries are of better quality than Malaysia. The developers there are more advanced, are more professional and more responsible. Well, I have no answers to this too as I have not studied much about other properties and do not own anything outside Malaysia. We will just leave it as it is. The below is one advantage which foreign buyers have when they buy a property in Malaysia. They enjoy the SAME protection as any local buyer.
Article in edgeprop.my here. A developer of a mega project in Johor had their appeal against a Singaporean house buyer dismissed in the Court of Appeal yesterday. The buyer was awarded RM15,000 in costs. Last year Ho was awarded RM50,000 in compensation on his claim that 25 of the 26 pages within the sale and purchase agreement that he signed on Aug 23, 2013 were later changed by CGDB without his knowledge.
He alleged that the stamped copy of the document contained significant differences from the original and he said that when he received the keys for a RM1.6 million condominium unit in November 2017, it was not the unit he agreed to buy. High Court judge Mohd Ivan Hussien on Dec 27 last year, said there should have been no amendments once the plans were approved and sales begun as there were no clauses allowing for changes. For more details please refer to Article in edgeprop.my here.
There are many markets where foreign purchasers have some limitations. Some could not own the units directly. Some has to ensure they are within the foreign ownership limit within the same development. Some are buying into markets where the prices versus median income is already extremely high in which the support for the market must come from the foreign buyers because the locals definitely could not afford them with their income. Happy buying into any market which is deemed to be better for our needs yeah. It does not have to be within Malaysia or even within the few major cities here. Cheers.
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