Langkawi is an archipelago of 99 islands in the Andaman Sea, 30 km off the northwestern Malaysian peninsula. Known officially as the Jewel of Kedah, Langkawi is a truly tropical paradise surrounded by stunning turquoise seas, long sandy beaches, secluded coves, swaying palm trees, and natural rainforests offering an abundance of captivating flora and fauna. Having enjoyed duty free status since 19
87, the island of Langkawi was granted further recognition for its commitment to nature conservation by being awarded Geopark status by UNESCO in 2007. With its unique heritage, cultural richness, distinct variety of gourmet and culinary delights and plethora of boutique spas, Langkawi provides the perfect haven for relaxation. However for those looking for activity, the island is home to three beautiful golf courses, three state of the art marinas, a host of alternative watersports, a cinema complex, bowling alley, the steepest cable car in the world and much, much more. The island serves as an impressive backdrop to a much heralded residential freehold development, Laguna Apartments. Laguna Apartments offers prospective purchasers a prestigious, innovative and luxurious apartment development in which to buy, located beside and offering picturesque and unparalled views of the Andaman Sea. With no bumiputra of Malaysian quota to meet, the primary target market since launching in July 2011 has been that of expats and those on the MM2H scheme, whether looking for a good investmentboth capital growth and high yields - a holiday home or retirement plan. The 70 unit, five storey development offers tropical landscaping, sweeping views, natural finishes and aesthetic qualities that complement its immediate surroundings. Laguna Apartments are pioneering in design and built with an attention to detail incomparable to any other residential building on the island. Laguna Apartments range in size from 1000 to 4000sq. ft. and feature two, three and four bedroom layouts ranging in price from RM539,000 to RM2,500,000. While the entire development is light and airy, the inviting entrance is further enhanced by a striking water feature leading into a generous reception area with lifts servicing the upper floors. Each of the apartment types has been carefully designed with consideration to its unique position within the building to maximize the use of space and optimize the views on offer. Apartments facing the ocean are cleverly designed with stretched picture windows and wraparound balconies to maximise the unparalled views of the Andaman Sea and the mountains, while others enjoy lush green views of the traditional paddy fields. Internally, the high specification finish and elegant lines exude opulence; the neutral tones used present a modern, fresh and spacious home, allowing plenty of scope for personalization. The beauty of light and space are harmonized to perfection throughout, creating an immaculate blend of supreme luxury and comfort. The impressive standard of finish is further enhanced by the inclusion of multiple air-conditioning units, centrally filtered water, satellite TV, telephone and internet connection points. The on-site facilities that further enhance the attraction of this fine development include a large swimming pool, a shaded sun deck, a Jacuzzi, a gymnasium, an aerobics studio, a spa, private storage, allocated underground parking, a carwash bay, 24-hour security and CCTV, a residents Recreation Area, and a poolside BBQ. A Government investment of RM5 billion over the next 5 years is set to cement Langkawi as one of the top 10 ecotourism islands and destinations in the world, rivalling the likes of Mauritius, the Maldives, Bali, Hawaii and the Seychelles. It is widely agreed that improving the island’s facilities and amenities, enhancing and maintaining the beauty of Langkawi and improving the island’s infrastructure will have a hugely positive impact, not only on the local tourist economy (expected to grow from RM1.8 billion in 2011 to RM3.8 billion by 2013), but also on the demand for developments like the Laguna, therefore impacting positively upon rental returns and capital appreciation over time. Quite simply, the plans will make Langkawi one of the most desirable and low risk world locations to invest with a relatively low capital outlay but potentially huge gains to be made. These well-appointed, comfortable and luxurious apartments coupled with the government outlay present a unique opportunity to purchase a deluxe home and high quality investment including land at an affordable price. Here are ten insider tips for figuring out the Langkawi property industry. Langkawi’s cost of living is particularly low thanks in part to its status as a tax-free island. Langkawi’s tourism industry received a major boost last year when it was granted World Geopark status by Unesco. This move is bound to provide a visitor surge which in turn will have a knock on effect on the island’s popularity as a location for investment by overseas buyers. Langkawi’s geographical position means it is sheltered by the mountainous backbone of Peninsular Malaysia, and therefore escapes the northeastern winter monsoon entirely. Langkawi enjoys sunny skies when the eastern provinces are largely flooded. Much of Langkawi’s overseas property market stems from the countries in its immediate vicinity with buyers from Singapore, which is only 32km away, being chief among them. Singaporeans, at present, make up 14 per cent of overall buyers Foreign buyers in Malaysia have also been encouraged by the recent abolishment of the real estate property gains tax and the fact that there is currently no more need to see FIC approval (for properties above RM250,000). The main island’s town of Kuah, situated on the south-east coast of Langkawi island, is the main focus of property investors. Further, the area around the recently-completed 205 berth marina is proving to be of particular interest where those who buy into the locale have easy access to duty-free shops and a range of business facilities. The recent trend towards private villa residences attached to major hotel chains has really taken hold in Langkawi, and not just in Kuah’s marina area. One such project is the Westin Langkawi Resort and Spa which opened last December on a peninsula to the south of Kuah. Malaysian banks sometimes hold auctions of distressed property and this should be the first port of call for those considering taking on a renovation project in Langkawi. Many units however, are left to fall in disrepair and wind up on auction due to the fact that buyers were hasty in their purchase and ended up with a unit in a bad location. Much of the land in Langkawi has been designated as Malay Reserve Land by the Malay Reservations Enactments. It appears however, that with the help of legal experts land designated as Malay Reserve Land can have its title changed and can then be bought by a foreigner and used for building a villa, or indeed bought with a villa in place. Most Malaysian banks will lend up to 80 per cent on bona fide property developments from reputable companies to suitably qualified foreign buyers. If a local Malaysian bank won’t lend on it then don’t buy; even if you don’t need to finance the purchase.
