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Hi, My partner (foreigner) and I (Malaysian) are working with reputable companies in Japan. We are looking at purchasing a property in Malaysia primarily for investment. We prefer landed properties in KL, Selangor or JB. The property ownership could be under my name because we are looking at properties under 1M with room for appreciation. We have the following queries and thanks in advance for your assistance.
1. What are the odds of getting a bank loan? I do not have much commitment in Malaysia, only a couple of credit cards which I seldom use and always promptly paid off if there was any dues, and ptptn which was restructured more than one year ago and currently paid on time using autodebit. My partner does not have any credit record in Malaysia. We also do not have any commitments in Japan and our combined annual income after conversion is around 500K MYR. We have some cash at hand but we are looking at maximizing the loan amount because we like the flexible loan type to accommodate our other investments.
2. Please advise also on the type of documents needed for loan application.
3. What are the interest rates normally offered in this case?
4. What are the recommended locations?
5. If we were to let out the property, what kind of return can we expect?
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2 Answers

<en>Jimmy</en> <en>Leong</en>
Replied
Hi Joseph, you are mainly looking for High Return On Investment or otherwise? I have very good ROI property with below market price which u can get full loan and do some cash out if you want. Kindly contact me @ 016-6635196  . TQ Best Regards, Jimmy Leong Read More
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<en>David</en> <en>Wong Lai Kwong</en>
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Dear Joseph,
If you are looking for landed houses below RM1 million most likely it will be single, 1 .5 or double-storey link houses in Kuala Lumpur or Selangor (I am not familiar with houses in JB). It is good that you are planning to use a Malaysian name to buy the landed property as you will have more options. Foreigners are not allowed to buy landed properties in Selangor unless it is a strata titled gated and guarded development.
1. For a Malaysian working in Japan to get a loan is relatively easier. A foreigner will not be able to join in the loan application if the join buyers are not related like husband and wife or fiance. The margin of loan for a Malaysian could be 90% depending on the stability of his employment and which reputable company are you working with.
2. Loan documents required:
a) Clear copy of your IC
b) Work permit
c) Employment letter
d) Latest 6 months payslip
e) Bank account statement
f) CCRIS report in Japan
g) Income Tax Statement in Japan
h) Employee's Provident Fund in Japan, if any
3. The bank interest rates are around 4.55% to 4.65% per annum, if the loan amount is more than RM500k. Some banks may give a slightly lower interest rate for the first two years of the loan.
4. The areas that have better price appreciation will be those in locations that attract middle and upper income people. Some examples are in Bangsar, Hartamas, Damansara Heights and Taman Tun Dr Ismail , Desa Park City in Kuala Lumpur which are usually priced above RM1.5 million and those in Selangor are Bandar Utama, Damansara Utama/Jayaa/Kim in Petaling Jaya, Sunway, Subang Jaya and some parts of Kota Kemuning. The newer townships although with a lifestyle concept are mostly developed further away from the cities of Kuala Lumpur and Petaling Jaya therefore may not be popular when it comes to renting them out.
5. The yield derived from renting out link houses are averaging about 2.5% to 3%.
Should you n Read More
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