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.

Been to the new sales gallery, directly opposite to Wisma Ekovest at Jln Gombak.
The sales charts were taken this afternoon.







This post has been edited by Jagalat: Jun 23 2014, 09:44 PM

Did not manage to meet any SA during short visit.
Was told by the front desk guy that no more loan reject of duplex 763sf at the moment. Can follow up next time woh.
A few big units still available.
For BlkE, high floor studios still available, per the chart, along with other mid to big size units.

SOHO fully sold?

Block E. Still have quite a number of units?

Noted.
http://www.thestar.com.my/Business/Busines...under-pressure/

“This was corroborated by data that showed 84% of home loan borrowers only had one outstanding housing loan account,” it said in an email response toStarBiz.

From the above sentence, the 84% of borrowers do not have a second outstanding housing loan.
Then why the gov so kancheong of deploying all these cooling measures leh?
Why worry of potential foreclosure or increasing housing debt?
l feel like something does not add up...

This post has been edited by Jagalat: Jun 24 2014, 11:14 AM

SOHO fully booked but not all SnP-ed.
The guy sitting at the front desk did not know about the potential number of loan reject. However, he was sure that at the moment there was no reject unit.
To know if there is any future loan reject unit, he suggested me to follow up from time to time.
Leng Lui was out yesterday.
Didn't have a chance to speak to her.


Yep. Blk E still has quite a number of units.

This post has been edited by Jagalat: Jun 24 2014, 11:16 AM