http://www.theedgeproperty.com.my/content/...erin-properties

Bincangkan

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The proposed amendments to the Stamp Act 1949 will see more stringent requirements imposed on property buyers. This includes the introduction of a self-

assessment system, upfront payment of ad valorem duty on contracts for the sale of property and an exponential increase in the penalties for late stamping.

One of the more significant changes proposed in the Stamp (Amendment) Bill 2016 — which was tabled for first reading in parliament on Nov 23 last year — is that the ad valorem duty must be paid before the sales and purchase agreement (SPA) is signed. Under the current Act, the duty is paid in the later stages of the property-buying process.

Ad valorem duty is one of two stamp duties payable in the country, apart from fixed duty (RM10). Unlike the latter, the ad valorem duty depends on the type and value of the instrument, be it property, stock or marketable securities.

Shawn Ho, partner at legal firm Donovan & Ho, says property buyers will have to be more aware of their stamp duty obligations once the bill is passed. “The normal sequence of a transaction is that the parties come together, agree on the terms of the SPA and sign it. Then, the purchaser applies for a loan. After the loan has been secured, the bank makes the payments. Only after two to three months is the instrument of transfer stamped with ad valorem duty.

“But under the proposed amendments, the SPA will be the instrument that has to be stamped with ad valorem duty. That means purchasers will have to prepare the money needed for this even before they sign the agreement.”

The proposed amendments have caused a stir among local property developers, who in the past had offered to absorb the stamp duty for the SPA, says Sunita S Sothi, partner at legal firm Zaid Ibrahim & Co. “Normally, most developers offer to pay your legal fees and stamp duty for the SPA. Some buyers do not realise that payment of stamp duty on the SPA refers to the RM10 duty payable on each copy of the SPA. Under the proposed amendments, the ad valorem duty will have to be paid upon execution of the SPA, which will now carry the ad valorem duty based on the value of the property and not a nominal sum. This will be the first expense a buyer needs to pay upon execution of the SPA and banks will not release a loan until the documents evidencing the purchase have been properly stamped.

“This may hit property flippers the most because they have to take this amount into account when acquiring properties. Some flippers tend to buy condominium units and request that the developer transfer the property directly to the third-party buyer who bought the unit from them. The flippers are able to do this and avoid paying the stamp duty because it used to take a considerable time for the strata titles of condominium units or apartments to be issued. With the amendments, property flippers will have to pay in advance. So, this will greatly impact them. Developers that have agreed to pay the stamp duty on the SPA will have to rethink and reword their brochures and promotional packages or budget for this payment of ad valorem duty.”

Those who have signed the SPA and paid the ad valorem duty but are unable to secure a loan can choose to terminate the agreement (in accordance with the terms of the agreement) and get a refund from the stamp office. But buyers and developers need to understand that refunds may take a while. Sunita advises buyers to include the ad valorem duty cost in their purchasing budget when the amendments kick in to avoid any cash flow disruptions.

Under the current Act, property purchasers incur ad valorem duty on every RM100 of the property price. Buyers are charged RM1 for every RM100 on the first RM100,000, RM2 for every RM100 between RM100,001 and RM500,000, and RM3 for every RM100 above RM500,000. Thus, for a property worth RM500,000, the buyer incurs an ad valorem duty of RM9,000.

However, first-time homebuyers are exempt from stamp duty if the loan is less than RM300,000. They get a discount of RM1,500 if the loan is between RM300,000 and RM500,000.

Under the proposed amendments, there will be heftier penalties for those who do not have their SPA stamped on time. Errant property buyers can be penalised up to 100% of the original amount if they are 90 days late, compared with just 5% currently.

From the 91st to the 160th day, they can be penalised up to 200% of the original amount. And from the 181st day onwards, they can be penalised up to 400% of the original amount.

http://www.theedgemarkets.com/en/article/p...property-buyers

not yet effective right? still in draft session only from above statement.

Mean subsale buyer need to have stamp duty and downpayment in hand before buying.

I dont understand all these UUU and DDD, both also waiting for something that might or might not come.

Instead of speculating, I prefer to invest my money in a more sure thing rather than local properties, which currently does not make sense. 

I prefer investing in foreign REITs, as a proxy for property investment.

I can buy properties at up to 30%-40% discount from market, and getting 7%-9% annual dividend annually from rental. I only choose counters which can at least raise their rental annually because of collective bargaining power. You can never get all these with your standard property purchase.

Buying local overpriced properties, you be lucky to get 5% discount to market and rental yields of 2.5%... what a foolish investment:lol:   

If property goes DDD, I am protected with my high yield.

If property goes UUU, I enjoy my NTA going up, thus they can buy more property with debt.

If RM crash, I am also protected from Forex (I invest in >6 countries)

I dont have to worry about tenancy problem, selling, and all the associated headache related with property ownership.

The reit itself is already leveraged, but I can pledge my REIT to get loan (rate not much different than housing loan), which I only pay interest, and I can pay off the principal at any amount or one go if i like.

Sounds too good to be true? Sounds impossible? It is not. I have been doing this for the past 8 years, and it has done very well for me indeed.

To know more head to the stock exchange forum under REIT threads to know more.

nowadays mreit can buy? price still rising?

Putrajaya: Another 43 Rumawip projects get DO


KUALA LUMPUR (March 27): Another 43 projects under the Federal Territories Affordable Housing Scheme (Rumawip) have been issued a development order, Federal Territories Minister (pictured) said.

These projects involve 25,308 housing units.

Tengku Adnan said another 44 Rumawip projects, consisting of 26,138 units, are still in consideration stage.

A total of 19 projects or 11,627 units have been sold under the Rumawip initiative as at Dec 31, 2016.

Of the total, the minister said 3,802 units have been completed with the keys hand over, 6,990 units have signed the sales and purchase agreement (SPA) and the remaining 835 units is in the stage of finalising their SPA.

“On top of this, there are another 23 projects comprising 14,238 units still under construction, as well as owners’ applications that are in final stages of approval,” he said at the question-and-answer session in Parliament today.

Rumawip projects are affordable home developments located across all three federal territories, namely Kuala Lumpur, Putrajaya, and Labuan. The units under this scheme are priced between RM198,000 and RM300,000 each. — theedgemarkets.com

I dont understand all these UUU and DDD, both also waiting for something that might or might not come.

Instead of speculating, I prefer to invest my money in a more sure thing rather than local properties, which currently does not make sense. 

I prefer investing in foreign REITs, as a proxy for property investment.

I can buy properties at up to 30%-40% discount from market, and getting 7%-9% annual dividend annually from rental. I only choose counters which can at least raise their rental annually because of collective bargaining power. You can never get all these with your standard property purchase.

Buying local overpriced properties, you be lucky to get 5% discount to market and rental yields of 2.5%... what a foolish investment:lol:   

If property goes DDD, I am protected with my high yield.

If property goes UUU, I enjoy my NTA going up, thus they can buy more property with debt.

If RM crash, I am also protected from Forex (I invest in >6 countries)

I dont have to worry about tenancy problem, selling, and all the associated headache related with property ownership.

The reit itself is already leveraged, but I can pledge my REIT to get loan (rate not much different than housing loan), which I only pay interest, and I can pay off the principal at any amount or one go if i like.

Sounds too good to be true? Sounds impossible? It is not. I have been doing this for the past 8 years, and it has done very well for me indeed.

To know more head to the stock exchange forum under REIT threads to know more.

Rising likelihood of OPR hike

http://www.theedgeproperty.com.my/content/...lihood-opr-hike

gets really interesting by the day.

I dont understand all these UUU and DDD, both also waiting for something that might or might not come.

Instead of speculating, I prefer to invest my money in a more sure thing rather than local properties, which currently does not make sense. 

I prefer investing in foreign REITs, as a proxy for property investment.

I can buy properties at up to 30%-40% discount from market, and getting 7%-9% annual dividend annually from rental. I only choose counters which can at least raise their rental annually because of collective bargaining power. You can never get all these with your standard property purchase.

Buying local overpriced properties, you be lucky to get 5% discount to market and rental yields of 2.5%... what a foolish investment:lol:   

If property goes DDD, I am protected with my high yield.

If property goes UUU, I enjoy my NTA going up, thus they can buy more property with debt.

If RM crash, I am also protected from Forex (I invest in >6 countries)

I dont have to worry about tenancy problem, selling, and all the associated headache related with property ownership.

The reit itself is already leveraged, but I can pledge my REIT to get loan (rate not much different than housing loan), which I only pay interest, and I can pay off the principal at any amount or one go if i like.

Sounds too good to be true? Sounds impossible? It is not. I have been doing this for the past 8 years, and it has done very well for me indeed.

To know more head to the stock exchange forum under REIT threads to know more.

You can pledge reit? Well thats something new to me. Can you pledge to a local bank? How about local reits? Can you pledge that also? Whats the ratio for pledging like? 1:1?

Bro gark,

How do you view the current retail space oversupply?can retail Reits maintain or increase their dividend payout in near terms (3-5 years)?I am looking at Pavreit,IGB reit,KLCC and Sunreit.

Your opinion is highly appreciated