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Housing in Malaysia

The accommodation value in Malaysia is quite reasonable and neat, it is one of the Asian countries which allow a foreigner to own a property this attracts a lot of expats looking for an investment in a foreign country. With a reasonable budget one can a find a decent, modern and comfortable property in Malaysia.

The different resources related to housing in Malaysia are as follows:

Buying a property in Malaysia

Malaysia is one of the Asian countries that allows a foreigner to own a property provided he has the financial means. You can seek the banks in Malaysia for the mortgage although they only provide 75%-90% of the requested amount.

The properties located in the main cities like Kuala Lumpur, Penong and Johor will cost more compared to the properties in the outskirts of the city. Houses in the main city may cost some where between RM300000-RM 2 million. When you move out of the city beautiful condos can be seen which costs around RM600000 and Bungalows at the cost of around RM 1million.

Not everyone is too keen on buying a property either because of the short duration of their stay or because of the cost of the property. When it comes to renting a property there are variety of options to choose from. Serviced apartments, condomoniums, bungalows, villas, townhouses and so on.

Most of the expats go for the condos, they are basically apartments with added facilities such as swimming pools, gyms, garden etc. The price of a standard condo ranges around RM2000 per month however a more luxurious one may easily cost you about RM5000 per month.

It’s normal for the expats to pay the owner an advance of two months of rent and also about half a month’s rent for utilities. Contract is usually made for a minimum of one year, you also have to check with the owner if parking, pets, air condition etc are available.

The best way to look for accommodation in Malaysia is to search online there are a lot of people who are open to sharing their apartments, this is the best way to cut the cost and meet new people. However sharing accommodation is only ideal for young people or individuals who live alone, if you are with your family then its best to consult with a real estate agent for a good accommodation.

There are insurance policies which allow coverage for your belongings. You can insure your belongings against fire, theft and other damages including a natural disaster. There are three kinds of insurance policies to

1.A basic fire policy:-
A basic fire policy covers the damages occurred to belongings in case of a fire.
2.A home owner policy:-
In addition to the basic fire policy the home owner policy provides coverage in case of a flood.
3.A house holder policy:-
A house holder policy provides insurance coverage to the house hold items ad fatal injuries.

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