??? i was referring to subsale though. I may have misunderstood your comment, can you rephrase?

subsale la, there are few case that some request to transfer non-bumi leasehold land to another non-bumi got denied, thats one of the reason why alot of people stick with freehold land only.

its risk for non-bumi buyers if the owner is bumi.
ive experience this because i wanted to sell my bumi lot to non-bumi. must make appeal and this require more time. very critical for auction prop

What are the reasons given for this?

Yeah, well I am sure when they say "dengan pihak berkuasa negeri" the negeri would have power to deny the transfer. But my point is that it is much more likely for a transfer from bumi-leasehold to non-bumi-leasehold to be blocked by the state

It goes without saying that a freehold would be preferable, but for bumis, the disadvantage is much more apparent when buying leasehold, their secondary-market would be severely limited. Not so much for non-bumi-leasehold transfer to non-bumi, it may happen, sure but not as bad.

As I mentioned above, these are from conveyancing lawyers, so I'd take their word

This post has been edited by wild_card_my: Dec 12 2018, 01:17 PM

Bubble is popping already la, developer now willing (although reluctant) to sell below launch price, like way below. My friend surveyed and got more than what he bargained for. Based on market study, the bleed is expected to last at least 2 more years.

Does anyone know if this applies to landed individual-freehold properties as well? The developers in Sepang area are selling their properties like hotcakes...

Sime darby, serenia
Glomac, saujana klia
Sunsuria, sunsuria city
IOI, arden (??)

Many sold out moments after they go on sale.

still under master title developer name?
or already under individual strata title owner name?

not kena'ed to me, i have no idea.
just kedai kopi discussion, somemore they discuss how to undertable to overcome this

wait, you guys misunderstood me. I am referring to Bumiputra buyers who bought non-bumi leasehold lot. This is not a matter of of Bumiputra-lot, not all Bumiputras buy Bumiputra-lot from developers.

When a Bumiputra buys a leasehold property, there is a high chance for the state to block the transfer of the lease to a non-Bumiputra down the line.

Agreed, kena this last year bought non bumi leasehold apartment in 2011 but since I’m bumi when I sell to this Singh guy the whole approval process took almost a year (first time rejected then reappeal then get).

In summary if you bumi, better dun buy leasehold non bumi lot if your intention is to sell to non bumi down the road.

Yes, this is a known issue. Leasehold property. Bumi buyer bought from non bumi via subsale. Still under master title. Will be converted into bumi lot by the developer. To fulfill bumi quota. This one is a norm case happening everywhere actually. All developers doing the same thing.

But is it happening to leasehold property that already got individual strata title? Bumi buyer bought from non bumi an obviously non bumi lot. The local authority self imposed bumi restricted later on to the initially non bumi unit?

Leasehold still under master title?
or leasehold already got individual strata title?

When bought still under master but even if individual strata title if bumi buy leasehold non bumi lot then when selling time still need to apply for approval/consent. Apparently as long as the new owner is bumi for leasehold props it auto considers as bumi for selangor la. That’s what the guy at the land office told me.

In your example, the non-bumi original purchaser bought normal lot or "converted-from-Bumi-lot" (due or developer cannot sell the Bumi lot)?

I went to COVE by Gamuda, leasehold, and the bumi-lots are already set in stone. Unlike Sime Darby's Serenia that uses quota, which means the Bumilot-status is not attached to the property's title.

for landed, developer could launch in mini phases e.g row by row. usual practice for developer to collect enough booking fees (for a or few row) than launch (for those paid booking fees to select units) and appear sold out at launch.

Guess it doesnt matter is normal non bumi lot or converted-from-bumi-lot (developer appeal to convert to open lot as bumi buyer got no interest).
Is the same. Both considered as open lot.

But the concern as stated by scorptim, is once changed hand fall into bumi owner, the property is automatically being imposed bumi restriction by the local authority. So bumi buyer buying leasehold property is not a smart move after all. Unless at bumi dominant area, then is not an issue as can easily sell to another bumi buyer.

This depending on developer. The bumi quota is based on %.
Some developer will lock down certain unit straight as bumi lot.
But some developer will open up units to everyone. and from there base on bumi take up rates, they compute whether still meet the quota or not.

For property still under master title, developer really got the main control over this.

Ekceli bumi dominant area more problem, harder to get the approval than non bumi area. Damn hard to justify why can’t get bumi buyer.

Sell to bumi, the issue is always...bad credit rating. I had 3 bumi buyers before I sold my unit to the Singh fella which was at U5 Shah Alam area, 2 of the bumi buyers salary around 5k also cannot get 150k loan approved. One owe CC too much, the other had bad record always delay 2-3 months then pay car loan 🤦‍♂️

wah didnt know that bank can disclose the reason to seller

but its a good eye opening

This one is from certain bank which I ask my friend to help with the loan application since the one they applied to other banks were rejected. Then I ask my friend tolong but he also can’t due to the reasons mentioned earlier.

Yeah I know it’s not exactly legal.