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Investment Malay Reserve Land and Bumiputera House & Property, what is expected from these?
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Helius
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 Jun 11 2013, 05:15 PM
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No worry... Now days Malay reserved land selling like hot cake...
A very good example is Saville Bangsar... All 60% non bumi sold out!! Waiting another 20% release only...
Developer say no problem and the price has increase 5% from launched...
I see Malay reserved property have more flipping potential as cheaper cost...
Anyway, developer bought this Malay reserved land at pantai dalam 76 million for 5 ache!
Is this consider cheap?
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Helius
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Jul 31 2013, 12:00 PM
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QUOTE(tiaravee @ Jul 31 2013, 11:21 AM) I am in the midst of buying a property which is stated as Malay Reserve Land. It is a sub sale buy from a Chinese owner. Although transfer to non-bumi to non-bumi can be done but securing a loan for these type of property is difficult. Currently, we are trying to get loans from some banks for the property, we realized that banks such as Standard Chartered, Public Bank and Hong Leong Bank do not offer loans to such properties... So to future buyers, please state to the bank beforehand if you are buying a Malay Reserve Land, whether they offer loans to such property. There are plenty of banks offer loans to Malay reserved land project... At least Malaysia main bank; Maybank doin... U an try and they could give very competitive interest with 95% margin... |
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Helius
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Jul 31 2013, 03:23 PM
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QUOTE(ts1 @ Jul 31 2013, 03:11 PM) MRL, the owner can change ownership from malay to non malay (subject u can get consent from developer i think) but title of the land cannot be amend? Yup.. U have to get consent from local authority... It depends on which authority nowdays, if DBKL is the easiest.. 3 months approval out. Title will be strata and only non bumi can sell to either bumi / non bumi. Anyway, once sold to non bumi, that unit will convert bumi unit automatically. |
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Helius
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Aug 1 2013, 10:53 AM
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QUOTE(syarehey @ Aug 1 2013, 10:35 AM) How to check whether the land is Malay reserved land or not? because developer normally put the land status as Freehold if it's a JV project. Do we need to go to land office everytime before purchasing a property? Developer should have informed buyers up front... |
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Helius
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Aug 1 2013, 12:19 PM
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QUOTE(syarehey @ Aug 1 2013, 11:30 AM) Out of curiosity,referring to saville bangsar,the status shown in the website is Freehold but someone found out it's located on MRL. it's contradicted isn't it? Just to clear your curiosity. I'm 1 of the buyer of saville Bangsar too. Saville Bangsar is a freehold land that fall on MRL. So there are restriction with it. Supposedly this project could only max 50% allocation to non bumi. Anyhow, as developer have strong tie with our government, developer manage to get 70% allocation to non bumi as others normal leasehold quota. Hope this help you... |
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