Singaporeans usually prefer buying properties from Malaysia due to their own limited properties - and Malaysia tops their list. Here's why!
The driving factor for Malaysian property is that different foreign property ownership limits govern different states in Malaysia. It is the only entry where foreigners can own land without having Malaysian citizenship to buy it on a freehold basis.
Apart from such common factors, specifically, Singaporeans are interested in buying Malaysian property because—
If you are a Singaporean citizen who owns an HDB flat, you can buy property in Malaysia by meeting your Minimum Occupation Period (MOP).
Housing and Development Board (HDB) manages public housing in Singapore. Initially, HDB flats were made as financially supported public housing for Singaporeans. With time and rising demand, the Design, Build, and HDB introduced the sell Scheme (DBSS). DBSS has interiors that match the quality of private housing.
So now, many flat types and layouts cater to various housing budgets. And, the purchase of HDB flats can be financially aided by the Central Provident Fund as previously.
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To buy an HDB flat from HDB, developer, or the open market, you will need to meet the Minimum Occupation Period or MOP. The HDB MOP is the period of time that is necessary to live in your flat physically before you sell or rent it out or buy another private property.
The HDB MOP will start from the day you collect your keys, and it will not include the time when you will not be living in the flat in person. The duration of the MOP is usually five years, although it depends on how you purchased your flat, the flat type, and the date you applied for the flat.
You will not be able to purchase the following as a foreigner –
You will be able to own the kinds of property in Malaysia as a foreigner –
Also, at present, there is no limit to the number of residential properties you can own.
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