Hi taikor any idea when they releasing the bumi lots ? Any discounts will be provided during that time ?

With such high demand i doubt thr will b substantial discounts.

well let's cross our fingers and hope for more......

Most likely they will adjust the price in stead

normally they will start release bumi lot when construction reaches 50% which maybe 2 years later. I will foresee price upward instead of giving discount.. heheheee...

No really i talk to one of their sales person and she mention probably by end of this year. As you might notice quit alot of bumi unit not taken up.. so probably they might release it soon as what she mention

Last year, Leng Lui told me those bumi units will be released this year oso, but I doubt loh

Weekend Side track: Just FYI only.
Do you have to charge GST on your rental income?
(I understand we discussed this topic before, in earlier versions)

http://www.starproperty.my/index.php/artic...-rental-income/

nope for me...happy with my tenants despite renting out slightly lower than market price.. (they paid on time every month without delay)

Rental also GST? Does LHDN check whether you have extra props and ask for rental income declaration?

timeline for release of 30% bumi lots.

details refer to http://homefinder.com.my/market-talk/malay...-plain-unlucky/

Kuala Lumpur
Quota, 30%
Discount, 5%
Title, Decided by Kuala Lumpur City Council (Dewan Bandaraya Kuala Lumpur)

Release
Stage 1
Construction progress at 50% and all non-Bumi units sold.
Advertised (minimum of three advertisements) in Malay and English newspapers, participating in property exhibitions and other promotions.
DBKL will consider release on a staggered basis on a maximum of 30% of remaining unsold units.
Required to re-advertise for remaining unsold units.

Stage 2
Developer may re-apply when the construction reaches 80% .
Re-advertise and participate in DBKL’s Bumiputera Property Exhibition.
DBKL will consider release on a staggered basis.
Re-advertise remaining unsold units and participate in DBKL’s cluster advertisement.

Stage 3
Re-apply upon completion.
Re-advertised.
All remaining unsold Bumi can be released within six months from the issuance of Certificate of Fitness (CF).
Contribution required, equivalent to the Bumiputera discount.

There is no way developer will sell the bumi units lower than earlier non bumi price becoz of the time and cost incurred to get release and after the approval of release, there is a need to pay contribution. Without the approval for release, can sell to non bumi but must pay penalty (that is both contribution PLUS penalty)

Using the above scheme, assuming the construction progress is linearly correlated to 48-months schedule, as spelt in a SnP, which was stamped during Dec-2013
1) stage1 - 50% is late-2015
2) stage2 - 80% is early-2017

The earliest release stage1 is already after gst implementation.
Unlikely to get better price for the released units ....

This post has been edited by Jagalat: Jun 21 2014, 10:47 PM

I think the only way for the later released units to be the same or cheaper price than the early bird price is if the property bubble finally burst!

Speaking of bubble, I recently saw some property auctions having mid to high end condo n service apartment. This caught my attention because I seldom to see nice units sold in auction. Is this an indication of bubble?

This post has been edited by neonikson1: Jun 22 2014, 05:49 PM

Auction cases has been ongoing even during boom days..

But what i noticed is increased interest to buy overseas properties in melbourne and london as many people see country risk of malaysia escalating due to race and religion issues which has not improved in recent times.

Hence the need to buy overseas so that their kids could potentially migrate for a better future..

Yes auctions have been on for centuries, but seldom see nice units being push out through auctions. Usually banks n auction house internally they would already sapu those nice units.

This post has been edited by neonikson1: Jun 23 2014, 02:08 PM

Today's Star reported for the 1st time in recent time house prices have moderated showing that bnm cooling measures are achieving their intended effects.