The ParkCity Township
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Overview
A 473-acre master-planned community in Kuala Lumpur, known for its high quality of life. It features mature residential areas and newer condos, with ongoing phases around its TownCenter.
Building/Community Amenities
- 24/7 Security
- BBQ / Grilling Area
- Clubhouse / Resident Lounge
- Fitness Center / Gym
- On-site Retail / Shops
- Parking
- Playground / Kids Play Area
- Pool
Investment Insights
Legal & Ownership
Legal & Ownership Information
Ownership Structure
Ownership Rights
Full ownership rights (Freehold)
Foreign Ownership
Foreigners can buy property in Malaysia but are generally restricted to purchasing properties above a certain price threshold, which varies by state.
Tax Considerations
Property Taxes
In Malaysia, property buyers are subject to several taxes, including a Stamp Duty on property transfers, which ranges from 1% to 3% depending on the property's value. There is also a Real Property Gains Tax (RPGT) on profits from property sales, varying from 5% to 30% based on the holding period. Rental income is taxable at resident rates, and annual property assessments are levied by local councils based on property valuation.
Transfer Tax
Stamp Duty on property transfers, which ranges from 1% to 3% depending on the property's value
Inheritance Tax
Inheritance taxes may apply.
Important Considerations
Restrictions
Required Documents
Financing Options
Financing Options
Financing in Malaysia
Malaysia offers a range of property financing options that are particularly appealing to foreign buyers due to its competitive interest rates and the country's stable economic environment. Foreign buyers typically enjoy loan-to-value (LTV) ratios of up to 70% when purchasing property in Malaysia, making it a viable option for international investors. The Malaysian property market is attractive due to its affordability compared to other Southeast Asian markets and the ease of obtaining a mortgage. Understanding Malaysia mortgages is crucial for investors looking to capitalize on the nation's real estate opportunities.
Requirements for Foreign Buyers
- 1Valid passport
- 2Proof of income (e.g., pay slips or employment letter)
- 3Recent bank statements
- 4Credit report from home country
- 5Details of existing debts
- 6Completed mortgage application form
- 7Proof of purchase agreement for the property
