Legend International Water Homes,
Kuala Lumpur, Malaysia
Reasons to Buy
- The popularity of water chalet living is being demonstrated by the high rental rates achieved by the current water chalets operating in Malaysia, such as The Avillion Resort in Port Dickson; Pangkor Laut in Pangkor and Langkawi Lagoon in Langkawi. All these water chalets achieve higher per night rates than the 5 star hotels in Kuala Lumpur. The Legend Group of Hotel and Resorts, one of Malaysia’s most experienced resort and hotel operators, has been appointed to manage the Legend International Water Homes thus ensuring that sound management will enhance the overall value of the project
| Water home resorts | Published daily room rates | Website source |
| Pangkor Laut | USD473: RM1,750 | www.pangkorlautresort.com |
| Langkawi Lagoon | USD292: RM1,080 | www.langkawilagoonresort.com |
| Berjaya Resort | USD270: RM1,000 | www.berjayaresort.com |
| Avillion | USD265: RM980 | www.avillion.com.my |
- The value of the water homes should increase significantly as demand far outweighs supply in the market currently. This demand is demonstrated in the room rates of water home hotel resorts.
- 1.64 million tourists visited Malaysia in August 2007, an increase of 9.3% compared to the same month in 2006. Tourist numbers are increasing year on year. Malaysia has a fast expanding tourism market which is built upon hugely diverse attractions and some stunning natural beauty coupled with its cost effectiveness as a resort destination (Source: www.tourism.gov.my)
- The Malaysian economy has some incredibly strong economic factors underpinning the predicted long term growth and as a direct result, foreign investment into Malaysia; including the real estate sector; is significant
- The World Tourism Organisation puts the country in the top three of the top fifty three commonwealth countries for tourism
- Introduction of low cost air fares from London to Kuala Lumpur by AirAsiaX in 2008
- Another significant initiative for overseas investors is the movement ‘Malaysia My Second Home’ (MM2H) programme, which is promoted by the Government of Malaysia to allow people from all over the world who fulfill certain criteria, to stay in Malaysia as long as possible on a social visit pass with a multiple entry visa. The Social Visit Pass is initially for a period of ten years (depending on the validity of the applicants’ passport) and is renewable
- Gross Foreign Direct Investment from 1996 – 2006 has remained at a steady level of US$ 4.7 – 5.3 billion demonstrating stable economic conditions. (Source: Department of Statistics Malaysia)
- 99 years leasehold ownership
- Global Financial Services company, UBS, named Malaysia their ‘best bargain’ for business travelers, with overall costs, including travel and entertainment running at less that a quarter of those in Tokyo and other major cities
- Property in Malaysia is very affordable with a low cost of living, low inflation and local financing is available at attractive rates
- Property maintenance and management fees are generally low as labour costs are inexpensive
- The Malaysian government is actively providing support for the country’s tourist industry, marketing the country as ‘Malaysia, Truly Asia’ with impressive results
- The large expatriate population employed in Kuala Lumpur has pushed up demand for rental of serviced apartments, well located property and real estate in general which means that rental rates chargeable in Kuala Lumpur are on a par with many major city worldwide
- Governmental policies support the attraction of foreign investment which include tax incentives and pro-business policies
- The simplified buying process together with the lack of any restrictions on foreign ownership has opened up a market fairly free of any local legislative risks
- No capitals gain tax
- GDP growth was 5.9% in 2006 and the growth has been consistently between 5.5% and 6.5% over the last five years. The forecast for 2008 is 6%. (Source : World Bank Economy Report 2007). Inflation in Malaysia is low, unemployment is low, exports and reserves are strong and strengthening
- Superb golf and sports facilities available
- A wonderful tropical climate with average temperatures of 30 degrees centrigrade
- Beautiful white sandy beaches
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Dr Richard A Stacey
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