Latest Project Highlights
 
Kensington Gardens, Jesselton, Penang
  Call our sales professionals : Max Wong +60 16 412 5582 Edwin Ong +6012 402 3155 Cheng Li Pin +6012 514 0836...
TROPICANA THE RESIDENCES @ KLCC
Henry Butcher Real Estate Penang is pleased to announce its appointment as the Sole & Exclusive Marketing Agent,...
Moulmein Rise Luxury Suites, Penang
  Moulmein Rise, luxury suites located in the heart of Pulau Tikus, Penang. Location : 5 mins walk to Gurney...
Setia V Residence, Gurney Drive
There are those who live, and those who live well. At Setia V Residences, you’ll take your place among an...
The Coastal, Batu Maung, Penang
LIfe is complete at The Coastal. An integrated development at the futuristic award-winning Southbay City. The...
The Rice Miller City Residences & Hotel
   The Rice Miller City Residences & Hotel, located in the heart of George Town Unesco Heritage Site...
Rice Miller City Residences
                               ...
The One, Penang Cyber City
CAPTURING IMAGINATION REALIZING DREAMS Unique, Unequaled and cutting edge, The One is gearing up to be one of the...
One One Eight @ Island Plaza
One One Eight @ Island Plaza A Seamless Style of Living 118 @ Island Plaza takes its cue from the energy, vivacity...
New high-end luxury condominium in Penang island

Selling / Buying Guide

1)       Buyer’s Guide

Make sure you are dealing with the owner of the property you are interested in or his authorized agent. If you are buying directly from a developer, make sure it has a valid licence. It is advisable to engage a solicitor to conduct a search on the property to
confirm ownership and perform a bankruptcy/winding-up search on the vendor....

2)       Seller’s Guide

You may wish to appoint the services of an estate agent. When your agent finds an interested buyer, a Letter of Offer will be prepared by your agent. The seller and buyer will sign separate Letter of Offers. The buyer would usually pay 3% of the purchase price as earnest deposit to his solicitor. His solicitor will then forward the earnest deposit to your solicitor. This is to ensure that the whole transaction is properly documented....

3)       Foreigners’ Guide 

You are allowed to acquire properties at minimum purchase price set by the respective state governments. The current minimum purchase price for most of the states are RM250,000.00.

Effective 1 July 2012, Penang State Government has raised the minimum property price for purchase by foreigners from RM500,000 to RM1 million for strata titled properties and RM2 million for landed properties. The existing limit of RM500,000 for permanent residents is retained. For applicants who have been successful under the Malaysia My 2nd Home program, the minimum purchase price remain at RM500,000 with the limit of up to 2 units only.

 

REAL PROPERTY GAIN TAX

With effect from the Budget 2014, foreigners are subject to the following flat rates on the gain from the disposal of properties.

Disposal within 3 years - 30%

Disposal in 4th year - 30% (20% for local purchasers)

Disposal in the 5th year - 30% (15% for local purchasers)

6th year and above - 5%  (0% for local purchasers)