Kuala Lumpur Property: Something for Everyone

June 30, 2008 - PRLog -- The government has gone to incredible lengths to encourage investment – automatically granting residency to any foreigner who buys property; abolishing capital gains tax and offering other tax incentives. And as Malaysia is an ex-British colony, finance is readily available and all paperwork is in English.
Property is expected to grow by no less than 15 percent per year over the coming years and rental yields of 8-10 percent can be expected.

The city itself has grown from the humble beginnings of an 1850’s tin-mining centre to a core of economic activity, with a market capitalisation of around $319 billion. Crammed with corporations and multinationals, Kuala Lumpur is the fastest growing metropolitan area in the country, both in terms of population and economy. The thousands of employees that move to Kuala Lumpur each year need quality rental accommodation.

The tourism sector also plays an important part in Kuala Lumpur’s burgeoning economy. Medical tourists flood in to take advantage of the city’s advanced health services, while conference tourism has also expanded in recent years and is fast becoming an important component of the industry.

Others come to shop as the city develops into an international shopping destination home to mega malls and global brands. Then there’s the architecture; the arts; the cultural sites and landmarks; the parks; the food; the nightlife. Thousands of tourists visit each year and these tourists also need quality rental accommodation.

David Stanley Redfern Ltd currently have two properties in Kuala Lumpur. Their Vivaldi property is a new off-plan condominium in Mont Kiara. It offers high end resort living with ultra modern facilities and all the conveniences of being in an urban location. Every apartment has its own private lift access, and each block its own private lobby. Every resident can enjoy the comprehensive clubhouse; the cantilevered gym and swimming pool; the cascading waterfall; the open-plan spaces. Vivaldi apartments are available from £362,000.

DSR's second property is The Crest. Situated in Jalan Sultan Ismail The Crest it is a five minute walk from Kula Lumpur city centre and the world’s tallest twin buildings, the Petronas Twin Towers. CIMB Bank can provide 70 percent of the finance secured over the Crest property itself, rather than the borrowers existing assets. And as the bank is shouldering the risk, due diligence is being exhausted on every aspect of this project – from its commercial viability to the construction and operational plans. Only 7 units are available at this time, ranging in price from £165k to £205k.

Find out more about Malaysian property

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About David Stanley Redfern

David Stanley Redfern Ltd is one of the U.K.'s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivalled customer care, which lasts long after the purchase has been completed.

Media enquiries should be directed to Liam Bailey: media@davidstanleyredfern.com