Articles
Property buying costs in Malaysia
MOT STAMP DUTY
EXAMPLE -
For a RM1.5 million house, stamp duty =
RM1,000 (1%) + RM8,000 (2%) + RM15,000 (3%) + RM20,000 (4%) = RM44,000
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SPA LEGAL FEES + SST
6% SST (service tax) on legal fees
LOAN AGREEMENT + STAMP DUTY
Same tiered rates as above + 6% SST
Also includes stamp duty on loan agreement = 0.5% of loan amount
VALUATION FEES (FOR LOAN BUYERS) + 6% SST
STATE CONSENT (FOR FOREIGNERS)
OTHERS
Quit rent - paid once a year
A land tax payable to the State Land Office annually.
Assessment Tax - Paid twice a year (January and July)
A local council tax for services like waste collection, street lighting, etc.
