I wouldn't touch mah siao... but still a great number of buyers would tot mah siao is a reputable company?
Since when?

I would not despise, but sympathize, those youngsters who sit with the agents during roadshow under the mah siao logo...
passing by... shaking head... sigh inside my heart...

Wow... You're the smart few who earned over a Mil from ms who bought at the right timing.
Now m city duplex (1042sf) is around RM1million. 670k entry, safe to assume you could exit at over 300k margin.

1572sf at 910k? 578psf? Is this an isolated case or general scenario?
My goodness, can't be that bad!

M-City has nearly twice the total number of units, compared to The Elements.
Things will only go worse when more units flooded the market all at once!

Some with DIBS once vp, may not have holding power and flood the subsale market crazily.
Not to mention those without DIBS.

Hopefully no mass lelong. If going below RM800psf, it'll be a massacre bloody cruel scene!!!

Pray hard... Certainly none of us wanna see such craziness happen!
It'll affect the whole klang valley market!

This post has been edited by kyun: Oct 19 2015, 01:44 PM

I like mah siao the least.
My personal thingy.
Honestly was so jealous seeing u guys making million from ms, if i managed to get that, I might lick their logo too.

Let me okay?

Not the best investment AT THIS TIME.

Also bear in mind there's 6% GST when selling out, this applies to all commercial titles (some SOHO, most SOVO and SOFO).
Those who bought after 1 april and didn't pay, income tax will come and chase them at later time.

(Not to mention bank loan's will charge another 6% on top of their interests too)
I learned this from lawyer. It's a huge pain to buy commercial titles now. Many still not realize this yet, including some lawyers.
Wait and see, income tax will come chase the buyers in a year or two.

OK, it's not income tax (Lembaga hasil) but customs who collected the tax, simply slipped out of mouth, lol! (they both look the same to me sometimes)

This applies to both new property and subsales.

So consider this, if you're selling any commercial props, where got buyers wanna pay for 6%?
Those who bought at subsales market and proceeded to SPA signing without knowing (lawyer didn't ask them to pay) this,just wait and see the interesting stuff going to happen.

So it's not a good investment for any residential prop comes with commercial title. Those old buyers are safe, though.

Read this under page 2, clause 7
http://www.customs.gov.my/en/pg/pg_ig/Prop...Mac%202014).pdf

And this
http://www.propertyguru.com.sg/property-ma...aysia-property-

Some proceeded SPA without paying, doesn't mean they're waived, but simply means lawyers 'forgot' to inform, and they still owe to government!

I know many don't know this yet. That's why they kept buying commercial titles and going to hit the wall real hard soon!

This post has been edited by kyun: Oct 22 2015, 11:32 AM

Yes I came across that too, SOHO is classified as residential and should be exempted.

If SOHO governed under HDA sometimes it's under residential, sometimes it's commercial.
SOFO and SOVO mostly commercial. We refer back to SPA.

Easier to put it this way, if bank could give 90% loan, it's residential.
If it's 85% top, it's commercial. M-City soho could finance upto 85% afaik.

http://www.customs.gov.my/en/pg/pg_ig/Prop...Mac%202014).pdf

GST TREATMENT FOR THE INDUSTRY
7. The supply of land used for agricultural, residential (including residential
house such as link house, semi-detached house, detached house, apartment
including serviced apartment and condominium) or general purpose such as burial,
playground and religious is exempt from GST. The supply of land and building used
for commercial, administrative and industrial purpose such as shop lots, office, retail
business, small office home office (SoHo), small office virtual office (SoVo), small
office flexible office (SoFo), factories, hotel, motel, inn, hostel and warehouses is
subject to GST.

Project case is crystal clear.
If there's 6%, developer will charge accordingly. (but then commercial props, usually got a big rebate, like current m-city got 25%, after they raise 50% to give back 25%.... sigh... gimmick), so they're just playing with number.

The thing is about sub-sale case. I've asked 3 lawyers regarding subsales, only 1 confirmed about GST by referring to SPA, the other not sure.

But this is still an ongoing debate... I just tend to play safe.

Please share your other insights if residential under commercial is exempted.

From this website:
http://www.propertyguru.com.my/resources/b.../soho-sofo-sovo


So it goes back to SPA again.

Those who bought SOVO (other projects) mostly kena, SOHO still have chances, maybe government doesn't even know or they could change the rules anytime.

Just mention it's one of the risks now. Now buyer shall pay additioanl 6% for commercial prop purchase.
So some 'clever lawyers' playing with backdate spa thingy to go months back, after 1 apr, if you know what i mean... they rather pay for penalty than gst.

But now no lawyers dare to take chances, how could they 'forgot to submit after half year of signing'?

This post has been edited by kyun: Oct 22 2015, 02:53 PM

Initilly I sent ace77 a private PM... but then figured out it might benefit all - once and for all - We'll get back all discussions about m-city and not run off topic


http://propertyinsight.com.my/featured-art...eady-for-gst-2/

That means, Customs will assume SOHO is commercial, unless lawyer appeal as it's residential. If lawyer doesn't know how to do (don't be shocked that many don't) or if they don't prove, Customs will come to chase it later.

Some developers still charge 6% even if it's under schedule H in SPA (governed by HDA). So buyers 'can' use it for commercial purpose.
But then, when selling out, GST will be incurred.
Unless it's proved that it's just for residential purpose all the while, by appealing to authority - lawyer shall do it.

At first 2 lawyers also mentioned the same thing, once I brought this up and showed them what Chris Tan said and the info on Customs website, they changed their stand to 'we're not exactly sure either.'
Si Beh gao gao lat.

Another more experienced lawyer firmly said, SOHO is commercial as stated by Customs. Unless follow SPA and paperwork to show otherwise.

Previous few months lawyers could avoid by 'backdating' the SPA (to avoid GST in subsales selling). Now new cases can't anymore, getting suspicious.
So it's still relatively new to most people whether how to define soho. SOFO and SOVO confirmed kena.

That's basically what I meant in the forum. It's debatable.

p.s.: Icon City, d-Sara, Meridin (by mah siao)... afaik, these are projects consist of SOVO, sure kena 6% GST, no matter appeal or not. Buyer is paying.

Don't count on agents or sales reps to give a correct answer on this (espeically if some lawyers not even sure), they'll promise anything but it's never official. Ask ms's sales manager if you must (they have namecard to show their title), or lawyers.

I've promised princezz that I won't bash m-city no more, leave the personal thingy behind, LOL!

Just info sharing ok?

Now let's go back to m-city topic. No more this. Enuff.

This post has been edited by kyun: Oct 23 2015, 02:33 PM

It's useless to throw out Zen-Master-like answer, "Ppl got different preferences, you shall decide and you're responsible for your own choice."
If all ppl gave non-intuitive answer like this, what's the use of this forum? Ppl need advice that's why they asked. Duh.

I don't have 100, just one reason, why not to buy. It's a stupid silly dumb investment, at this timing. You need to protect your money.
There are signs and evidences emerged from the neighboring community. Should have looked at these and made some comparisons out of it.

Also you make filtration out of all answers, because some are buyers (protective mode), some are agents (selling mode), some are bashers being prejudice (losing or hatred mode), some are non-opinionated (not sure what mode they have lol)...

Eventually there'll be dumb ppl who go for it, these ppl buy houses like buying veggies or a casual dinner without surveying and then they're protecting their purchase more heroic than the Hercules.

May not be you, because you asked in the forum.
That's the spirit of the forum. Sharing and caring.

This answer is based on own VERY BIASED bashing opinion.

Aiyo bro, come on lar, cool off. Small matter onli. No need to play hide and seek.

I said so, my opinion was very BIASED, not you, mine. And I always tend to be prejudice, thought it's my personality, nothing against anybody. I'm straightforward guy.

But you should offer more help, because you could, and you're intelligent (your last advice on me really amused me and i liked you a lot), if u stop playing safe.

The size is huge, but the 'show' - the center tube, works like a 360-degree plasma tube show to road users.

I so hope there's a transparent swimming pool in the tube which could view from under.

I'm here to offer advice to new buyers, and gave proof as much as i can.
But you only sounded arrogant and acted so high.

This post has been edited by kyun: Oct 24 2015, 09:34 PM

Yes I bash m-city non stop, but never bash ppl.

New buyers come here for advice and we shld tell honestly our thoughts, not refraining ppl from expressing another opinion. Imagine the first day you're investor would you welcome more opinions or just lure more ppl to die with u merely u bought one there?

At least I don't bash ppl, I leave that to God and stop pretending I'm higher than any self as I'm not. And I hope you stop being sarcastic and move on with this topic and help new buyers.

No, property like most other investments, are not zero sum game, the money pool will shrink if market price drop.
Vendor's loss might be buyer's loss too.

As one as loser in mah siao properties, I've "advised" most owners to dump these properties since 2015 (look at my thread), and all I got was harsh reply from kiasu and kiasi owners who defending their investments like h-e-ll.

MS is the worst top 10 developers. Now they're going for glove-making, lol.

They're not serious in building homes, just a crook who wants to squeeze $$$ out from every possible ways.

MS started out as a plastic trading company in the 60s, the saw the property boom and jumped on the bandwagon in the 90s and they emphasized all resources in properties since 2000s, now they realized it's a gloom in property but money in whatever areas fighting against covid-19, they again jumped on it.