Expatriate's
Commonly Asked Questions about buying property in Penang Malaysia
Questions Expats and Foreigners
commonly asked.
I am looking to purchase a property in Penang. What is the best location for me?
It depends on what you want to do in Penang. If you want to
retire or use as a holiday home, the popular location for expatriates is in the coastal
areas of Batu Ferringhi or in the Tanjung Bungah near the sea, but if you prefer
to be near Georgetown then Pulau Tikus and Gurney Drive are
prime locations. Gelugor & Bayan Lepas is more preferred by those who work in the
Bayan Lepas FIZ area which is near the Penang Bridge,
airport and with easy access to Butterworth.
I don't speak the local languages, how can I get around?
If you speak English, you will be able to do everything you want without
trouble. When two local with different mother tongues meet, it's common
for them to speak in English. Most people in town speaks English.
Is it safe to walk on the streets?
Definitely yes. Malaysia is a very safe country with little violent crime and
what there is, is never directed at tourists. The most you can fear are
snatch-thieves. There are lots of tourist and many expats
who walks in confidence in the streets of Penang, so it should be OK for you.
Are there neighborhoods I should avoid?
No. There are absolutely no "dangerous" or "bad" neighborhoods in Penang.
We have fashionable neighborhoods and less fashionable ones like everywhere else
in the world, but none are dangerous.
Is there any risk of burglary?
Like everywhere in the world, burglaries do occur, but if the door to the
building is closed and your windows are not accessible from the ground, you are
pretty safe. If you want to leave valuable objects in your apartment, they are safer
in Penang than in most parts of the world, but nonetheless we advise you to have
an alarm installed because you never know. And, of course, don't stash your cash
or jewelry under your beds.
What is the difference between an apartment, a condo or
a flat ?
In Malaysia, Apartment and condo are the same meaning. Most condo or
apartment will have condominium facilities. Flats generally means medium
cost flat and does not have the facilities.
Can I rent out the apartment?
You can rent it out if you are not using as a vacation or holiday apartment. Our
agent would be
happy to find a tenant for your place. Long Term or short term which ever you
prefer.
Can I resell to a foreigner or must I sell to a local?
You can resell to anyone who has the money to buy. That means to any local
citizen or to another foreigner who fulfils the necessary requirements. Under
the State Consent guideline, you have to keep the property for 3 years after
which you can sell it off.
How do I open a bank account in Malaysia?
Opening an account in Malaysia is relatively easy. Once you purchase the
property our lawyer will introduced to you a bank of your choice so that you can open a local banking account. With
the internet banking you can access your account in English at all times from
anywhere, check balance, transfer funds and even pay utilities bills - all done
online through the internet. You can appoint a lawyer of your choice or if you
prefer we can recommend to you a local lawyer who can take care of all the
documentation, approval, state consent and even arrange the mortgage financing
(if required).
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What is the cost of living like in Penang?
Penang has high living standards, yet maintains cheap cost of living.
The cost of living in Penang is low as compared to UK or elsewhere.
A couple with no mortgage could easily live on £150 (or USD250) per week and still eat out
regularly. A meal in a restaurant for a couple is about RM60.00 (USD20.00) and for hawker
food is about RM20.00 (USD7.00). This certainly makes any pension or benefits you receive go further.
What is the medical cost like in Penang?
A visit to the doctor for flu or cold (consultation with medication) would be RM50 ( £10 or USD15.00 ) and a visit to the dentist for filling a tooth would be RM80 ( £15 or USD20.00) approximately.
What is the cost of utilities for water and electric in Penang?
In Malaysia, cost of water is so cheap it may not be worth mentioning, approximately RM30.00 (ringits) or USD10.00 per month for a household family of four and electric bills would be approximately RM150.00 or USD50.00 per month for a normal household.
Is modern amenities easily available?
Broadband Internet, Astro Cable TV are readily available. Food is fabulous and cheap. Penang, a contemporary metropolis with modern amenities and simple small town friendliness, offering the best of both worlds while retaining its old-world flavour. Discover the rich diversity of Penang - just a great place to enjoy life after retirement or for long term holiday vacation.
How is the climate and average temperature?
The Malaysian climate is sunny and warm throughout the year at 24o to 33o Celsius ( between 75°F and 85°F). Nights are slightly cooler and rainfall is quite evenly distributed throughout the year, with more rain from August to October.
More FAQ >> Procedures for Condominium and Apartment Buying in Malaysia
Please Note: In Penang, high-rise apartment "condo rules" do not allow pets dog, cat, etc. If you have a family pet, you need to check with the management agent before signing the agreement. If there are compliant, you will have to relocate your pet, so it is advisable to look consider a landed residential house.
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Disclaimer The information provided are for information only and does not constitute a basis for any offer or contract of sale. No part of this document may be construed as a statement or representation of fact based on which a contract is created. Interested parties are advised to carry out their own independent investigation.