Malacca
Malacca is without doubt the most colourful Malaysian city.
The importance of its strategic position on the narrowest point of Malacca Straights and on the Spice Route attracted first the attention of the Chinese celestial court during the 15th century and subsequently the Portugese who occupied for 100 years from 1511 and the unique history has left its marks. The deceiving narrow facades of the houses which could extend back over 200 feet with high-ceilling rooms and courtyards are apparently the result of quaint Portuguese colonial tax law (which determined tax payable according to the width of the building).
The unique Baba-Nyonya microculture is a romatic legacy of the Chinese Princess Hang Li Po (sent by the Ming Emperor) who married Sultan Manshur Shah (her 500 attendants married the locals).
Places of interest include the Cheng Hoon Teng Temple (the oldest Chinese temple in Malaysia) and the Baba-Nyonya Heritage Museum.
Malacca Property Guide
With just over an hour drive from Kuala Lumpur and its colourful culture, Malacca has become a favourite place for a second home and its house price has benefited from that. Accommodation and property investment are available in landed property such as a detached house or a semi-detached house in addition to apartments and condominiums. Increasingly, serviced apartments are also available for the more luxury market.
For a new property, it is possible to buy directly from a real estate developer. And whether you are renting or buying, it is possible to engage real estate agents to search for a suitable property. Make sure that you use one which is licensed and understand the fee structures. One month's rent for a twelve-month rental agreement and 2.5% and 3% of the final sales price are common. As far as a property mortgage is concerned, it is possible to borrow up to 80% of the property price.
The sale and purchase (called the "conveyancing") of a property should be carried out through a qualified lawyer (an " advocate & solicitor") who will make sure that the formalities such as tax and stamp duties are paid and that the owner will get a "good title" of the property. Some landlords also use a lawyer or a rental agreement prepared by a lawyer.
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