Islands For Sale in 85, 28
Islands for Sale in Malaysia
Located partly on the peninsular Asian mainland and partly on the island of Borneo, Malaysia is an extremely diverse and interesting country. Malaysia is well known for its sweeping coastlines, beautiful beaches and world class diving opportunities. For island buyers, the best time of year to visit is between April and October. Malaysia’s virginal landscape enjoys a tropical, humid climate with temperatures averaging 86°F (30°C). There is great potential for resort development in this region.
Malaysia Foreign Ownership
Foreign buyers in Malaysia are restricted on the type of real estate they can buy. If you’re looking at buying a private island in Malaysia, first determine if the island falls under a category that permits foreign ownership. In order to buy any sort of property, non residents must get permission from the Foreign Investment Committee of the Prime Minister’s Department. Foreigners are not allowed to own Malay reserved land. It is imperative that a competent local lawyer be involved in any property transactions in Malaysia. The process is well documented and regulated, but everybody has a different experience. In the emerging market of Malaysia, it’s often a case of who you know when it comes to simplifying the buyer process. Beyond the restrictions placed on foreigners, all owners of property are treated the same and both foreigners and locals are protected by the same real estate laws.