Agent just told me that for freehold condo/apartment which already got its strata title, there's no such thing as bumi lot or non bumi lot. Bumi can transfer to non bumi just like normal house. Is it true??

yup thats true for freehold =)

Yup... Jus like saville bangsar. although 30-50% allocation to bumi, but once strata title out, all bumi can sell to non bumi... As it is freehold and the only freehold in bangsar south...

I foresee this property will be in huge jump of price psf after VP as group of malay syndicate is buying couples of units in this project....

tahrs what I'm trying to tell my clients, even under master freehold as long as dev ok to do double transfer u can buy right after VP

te only risk is vendor is cash buyer la

ehm.. the thing for cases under master title is case-by-case, the minimum quota need to be maintained, or else strata application would have problem.

What do you mean by "te only risk is vendor is cash buyer la"?

what is VP? sorry. new to property investment.

Normally a project still underconstruction will be master title, and after VP will depend on developers efforts to convert it to strata title for freehold land...

Anyhow, the worst i see so far is developer take few years to convert it to be strata title... So after strate title obtain, whatever bumi lot can sell to non bumi edi...

This is to protect bumi can get cheaper price for the project and that y the bumi lot allocation emerged...

Anyway, it is only applicable to freehold ya~~

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Added on October 5, 2012, 11:27 am
Vacant possess...

This post has been edited by Helius: Oct 5 2012, 11:27 AM

MY regulation makes it's confirmed master title for under-con projects.
The worst I'm seeing is 25 years still without strata title .. be picky of developer for new projects.

By the way, more and more rules & regulations was imposed and coming up to protect strata title purchasers.

Oh this is new info for me. Thanks for sharing.

Thanks all for the useful info!

So just to summarize,

For Freehold
Before obtaining Strata Title, Bumi lot cannot be transfered to Non Bumi
Upon obtaining Strata Title, Bumi lot can be transfered to Non Bumi.

For Leasehold
Bumi lot will remain as Bumi lot regardless of Title status.

there is a way to undertake perform double transfer upon strata issuance

Sorry. Mind to elaborate more?

Is it better to buy freehold or leasehold? Given then fact that lease hold remains lease hold ie hard to sell??

Of course freehold is better, anyway freehold at prime location is limited and is more expensive...

That is y freehold property price always on rise and it never drops all this while although time pass.. Time will only make freehold property more and more expensive as it will be a niche in future....

consult your lawyers

if their not able to advise.. ill intro mine to you

hi sifus,

i know this thread might be old, but i need the answer pertaining to the strata title.

my client has a commercial property which is leasehold, he is bumi and now the property got strata title..and now got 1 nice non bumi client want to buy

so..strata+leasehold+bumi..can it be transfered to non bumi?

if wat as quoted from bali ais is true, than no luck for me

thanks

This post has been edited by khairullz: Dec 27 2012, 07:06 AM

So far I've seen identical commercial lot case failed to be transferred to non-bumi purchaser after 1.5 year process .. anyway, try to talk to developer, land office, experience real estate agent & lawyer who had handled such case in the area/state

thanks for sharing..

Hye Khairullz,

Any luck in selling yr property? I am in a the same situations as you are. Leasehold, condo, less than 5years, bumi lot. My non-bumi friends are interested to buy my place. =(