So you want to buy a property in Malaysia?
Property types in Malaysia
Malaysia, offers 3 major types of properties: residential properties, commercial properties and vacant land.
Residential property
Residential property wraps up a whole area of property types including condominiums, residential houses, service apartments and apartments. It is solely used for residential purposes, not for business or office purposes.
Residential houses: In Malaysia, residential houses are landed properties that include single family detached houses, terrace houses and semi-detached houses. Single family detached houses are usually free-standing residential buildings that offer greater privacy with no common walls. Terrace houses and semi-detached houses are usually several families living in the same structure.
Condominiums and Apartments: Apartments are relatively self-contained housing unit in a building that is either high risers or low risers. A condominium comprises of recreational facilities and 24 hours security.
Service apartments: A service apartment is a type of furnished apartment available for short or long term stay leisure and business travelers which provide amenities for daily use.
Commercial property
A commercial building is a building that is solely for commercial use. Types can include office buildings, warehouses, or retail outlets (i.e. retail stores, shopping malls, etc.)
Retail stores: A retail store is basically a store that provides services such as a book store, a boutique and so on.
Shopping mall: A shopping mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area – a modern, indoor version of the traditional marketplace.
Office buildings: Primary purpose of an office building is to provide a workplace and working environment primarily for administrative and managerial workers.
Vacant Land
There are three main types of land in Malaysia: freehold land, leasehold land and Malay Reserve land.
Freehold land: You can enjoy ownership in perpetuity. Perpetuity means that there is no time limit for the owner and the freehold land lies with the title holder until he transfers it to someone else.
Leasehold Land: Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time.
Malay Reserve Land: Malay Reserve Land is land that cannot be sold to other races, even foreigners except for Malays or Bumiputras.
