Multiple Signs of Malaysia Property Bubble V20
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 Dec 12 2018, 04:08 PM
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Junior Member
916 posts Joined: Sep 2016  
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Leasehold has many problems when transfer of ownership,( inheritance from my sister) took almost 3 years to transfer.. many red tape at government agency due to some land restriction ( I'm guessing similar to N9 restriction now)
paid a lot on Lawyer fees (almost 3x normal tranfer fee) for the tranfer due to complications of transfer. |
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Dec 13 2018, 08:44 AM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space 
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QUOTE(michaelchang @ Dec 12 2018, 04:08 PM) Leasehold has many problems when transfer of ownership,( inheritance from my sister) took almost 3 years to transfer.. many red tape at government agency due to some land restriction ( I'm guessing similar to N9 restriction now) Yes, another problem for leasehold if the original owner didnt settle the strata title process. Developer already issued out for all units but that owner did nothing. When want to sell later on then only face the problem of double transfer. From developer to 1st owner name, then from there to your name. Process will take a long time.paid a lot on Lawyer fees (almost 3x normal tranfer fee) for the tranfer due to complications of transfer.  |
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Dec 13 2018, 10:34 AM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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Mah Sing doing another lelong record at M-City?
5 out of 6 lelong units in the market now is vacant unit condition. Nobody staying. Indirectly meaning cannot find tenant so nobody helping out the owner to pay the bank monthly loan repayment. Only 1 unit is occupied most probably by tenant. Here is the lelong list, all active lelong units in the market now: 1. 3-11-21, 678 sqft 2. 3-28-03, 533 sqft 3. 2-13A-02, 532 sqft 4. 3-27-16, 977 sqft 5. 1-15-21, 911 sqft 6. 2-29-18, 1018 sqft Wow. Just wow. yawn.gif |
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Dec 13 2018, 11:19 AM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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QUOTE(TunaFish1990 @ Dec 13 2018, 11:09 AM) looks like low cost apartment area?  |
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Dec 13 2018, 02:01 PM
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Senior Member
6,562 posts Joined: Jan 2003 From: Kuala Lumpur 
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QUOTE(TunaFish1990 @ Dec 13 2018, 01:57 PM) nice view! took me a moment to realize that you were being sarcastic.  |
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Dec 13 2018, 04:28 PM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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No bidder. Yup below 300k as expected.
Is now 100++k below launching price. S&P price for the unit is at 419k. Refer: » Click to show Spoiler - click again to hide... « AR3-11-06, Almera Residensi Reserve price 🔥🔥RM283,500🔥🔥 969 sqft Freehold Auction: Jan 2019 » Click to show Spoiler - click again to hide... « |
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Dec 13 2018, 04:38 PM
Show posts by this member only | IPv6 | Post
#1867
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Senior Member
3,833 posts Joined: Oct 2006 From: Shah Alam
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QUOTE(AskarPerang @ Dec 13 2018, 04:28 PM) No bidder. Yup below 300k as expected. 32% discount. Last time early bird rebates and discount how much?Is now 100++k below launching price. S&P price for the unit is at 419k. Refer: » Click to show Spoiler - click again to hide... « AR3-11-06, Almera Residensi Reserve price 🔥🔥RM283,500🔥🔥 969 sqft Freehold Auction: Jan 2019 » Click to show Spoiler - click again to hide... « |
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Dec 14 2018, 11:35 AM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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Now is the time.
Another cheap 2 storey semi D cluster unit available in lelong. Vacant unit. Brand new condition. Developer units at 700++k. So do your own calculation see whether which is more worth it. 10, Jalan MR 2/6, Taman M-Residensi 2 New reserve price🔥🔥RM 505,300🔥🔥 Leasehold until 2115 Land area: 2080 sqft Auction: 27-Dec-2018 (Thu)  |
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Dec 14 2018, 11:45 AM
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Senior Member
6,562 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(AskarPerang @ Dec 14 2018, 11:35 AM) Now is the time. Sounds good. But any reason not to wait even further? This auction is which round?Another cheap 2 storey semi D cluster unit available in lelong. Vacant unit. Brand new condition. Developer units at 700++k. So do your own calculation see whether which is more worth it. 10, Jalan MR 2/6, Taman M-Residensi 2 New reserve price🔥🔥RM 505,300🔥🔥 Leasehold until 2115 Land area: 2080 sqft Auction: 27-Dec-2018 (Thu) |
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Dec 14 2018, 11:46 AM
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All Stars
12,279 posts Joined: Oct 2010
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Prices dropping like flies!
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Dec 14 2018, 12:42 PM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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QUOTE(wild_card_my @ Dec 14 2018, 11:45 AM) Sounds good. But any reason not to wait even further? This auction is which round? 5th re-auction now. 1st auction 770k - no bidder 2nd auction 693k - no bidder 3rd auction 624k - no bidder 4th auction 562k - no bidder 5th auction 505k - current reserve price physiological effect. best to grab at this price my advice. coz if drop another round might attract many bidders and price will end up higher that 505k. then you are not smart. refer this case: https://forum.lowyat.net/index.php?showtopi...post&p=91219491 and compare with this case: https://forum.lowyat.net/index.php?showtopi...&#entry91219372 |
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Dec 14 2018, 12:48 PM
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Senior Member
3,833 posts Joined: Oct 2006 From: Shah Alam
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QUOTE(AskarPerang @ Dec 14 2018, 11:35 AM) Now is the time. nice. but i see leasehold prop above 500k. i skedAnother cheap 2 storey semi D cluster unit available in lelong. Vacant unit. Brand new condition. Developer units at 700++k. So do your own calculation see whether which is more worth it. 10, Jalan MR 2/6, Taman M-Residensi 2 New reserve price🔥🔥RM 505,300🔥🔥 Leasehold until 2115 Land area: 2080 sqft Auction: 27-Dec-2018 (Thu) |
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Dec 14 2018, 04:55 PM
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Senior Member
6,562 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(kurtkob78 @ Dec 14 2018, 12:48 PM) nice. but i see leasehold prop above 500k. i sked I would like to introduce you to Gamuda COVE |
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Dec 15 2018, 01:29 AM
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All Stars
21,457 posts Joined: Jul 2012
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QUOTE(AskarPerang @ Dec 14 2018, 08:12 PM) Fennel @ Sentul East Christmas offer before 2019 !! Dual key unit with 1 studio & 2 bedroom Market price above $1mil to.$1.1mil Build up size from 1338sf -1551sf -Free 2 years maintenance fee -above 6% ROI -low down payment & with cash return Offer price now at $770k only.! LIMITED TIME OFFER Copy paste. In MYR. BBB. Can get at cheaper price compare to early bird. Great. All developer doing the same thing to dispose off mistakenly hold back developer units. |
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Dec 15 2018, 01:45 AM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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No bidder.
Almost half price now compare to subsale transaction. For bumi only. Way below market price. Transacted subsale on brickz recorded 600k++. B-3A-12, Suriamas Apartment, Jalan PJS 10/11E Reserve price 🔥🔥RM324,000🔥🔥 1249 sqft Leasehold until 2101 Auction: 27-Dec-2018 (Thu) |
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Dec 15 2018, 04:54 PM
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Junior Member
89 posts Joined: Dec 2012
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QUOTE(AskarPerang @ Dec 12 2018, 01:31 PM) 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. In Selangor once ownership change from non-bumi to bumi, u can assume that it will become bumi lot in future transaction. 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?  Bumi or non bumi lot is not endorsed in title, local authority only refer to the current owner (they arent going to dig previous transaction) This post has been edited by kb9: Dec 19 2018, 03:02 AM |
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Dec 15 2018, 05:13 PM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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QUOTE(kb9 @ Dec 15 2018, 04:54 PM) In Selangor once ownership change from bumi to non-bumi, u can assume that it will become bumi lot in future transaction. Noted. Good info. Bumi or non bumi lot is not endorsed in title, local authority only refer to the current owner (they arent going to dig previous transaction) People use to say leasehold or freehold no difference one especially high rise. But now this info make a big difference especially if a bumi malay buying at less malay popular area such as Balakong. For sure will be stuck, hard to sell back to another malay in future. (above is just example, as Balakong is a freehold area) |
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Dec 15 2018, 05:18 PM
Show posts by this member only | IPv6 | Post
#1878
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Senior Member
2,529 posts Joined: Sep 2013
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QUOTE(kb9 @ Dec 15 2018, 04:54 PM) In Selangor once ownership change from bumi to non-bumi, u can assume that it will become bumi lot in future transaction. Wait if bumi change to non bumi, the non bumi still have to sell back to bumi u meanBumi or non bumi lot is not endorsed in title, local authority only refer to the current owner (they arent going to dig previous transaction) |
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Dec 15 2018, 05:37 PM
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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QUOTE(kkk8787 @ Dec 15 2018, 05:18 PM) Wait if bumi change to non bumi, the non bumi still have to sell back to bumi u mean Got typo in his statement. Corrected statement as below: In Selangor once ownership change from non-bumi to bumi, u can assume that it will become bumi lot in future transaction. |
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Dec 15 2018, 05:38 PM
Show posts by this member only | IPv6 | Post
#1880
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Senior Member
2,529 posts Joined: Sep 2013
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QUOTE(AskarPerang @ Dec 15 2018, 05:37 PM) Got typo in his statement. Corrected statement as below: Wow. Wait this is even for lots not allocated as bumi lot?In Selangor once ownership change from non-bumi to bumi, u can assume that it will become bumi lot in future transaction. |
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