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Residential Land Malaysia
Introduction: Residential Land Malaysia is land that covers various sections of residential properties. Such properties may include, but not limited to residential houses & luxury homes, apartments & service apartments, as well as town houses.
Characteristics of some Residential Properties in Malaysia:
- Luxury Homes are known to include mansions, estates and villas. Although most people tend to associate luxury homes with large houses, this is not always the case. The leading indicators of such homes tend to be very high pricing, as well as features like a media room, an art gallery, and more often than not a gymnasium, among others.
- On the other hand, townhouses are made up of lower and upper units, and may include a few grounds for play. It is never surprising to see both the upper and the lower units (first floor and ground floor respectively) belong to different persons.
- Found in one to three storeys are the residential houses. These are usually very appropriate for families, either on rent or on purchase. A fence or a wall may act as the barrier between two residential houses- which could be single family detached houses, terrace houses, or semi-detached houses.
- Service Apartments on their part in Residential Land Malaysia can be rented or owned. These apartments are usually pocket-friendly because of their cheap nature, compared to rooms in a hotel. Basically, service apartments are geared towards brief stays, and are usually equipped with facilities for normal daily needs. Their mode of operation does not match that of other residential properties, no wonder they are not covered by the 1996 Act on Housing Development.
Securing loans for Residential Properties: Residential Land Malaysia attracts the attention of most banks, with regard to securing loans, whether interested parties are under self-employment or a regular monthly salary. To this end, the banks give people the opportunity to work towards acquiring a residential land or start constructing their dream homes. In some instances, the banks are known to prefer residential lands within the limits of the municipal, and further require that the construction process begin in less than a year.
Note: whereas Malaysia has quite liberal rules with regard to the purchase of residential properties by foreigners, it is important for purchasers to note that the various states have their own rules on properties, but it is the preserve of the Federal government to approve national regulations on Residential Land Malaysia. Find out more in Residential Land For Sale.