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.

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.

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.

took me a moment to realize that you were being sarcastic.

Sounds good. But any reason not to wait even further? This auction is which round?

I would like to introduce you to Gamuda COVE

Hey that's the house I am staying in right now..

well not the exact unit, nor the same size.. but I am in Domain 5.

In fact I was asked by the owner to sell this property... How to sell?

-dooplikate-

This post has been edited by wild_card_my: Dec 20 2018, 01:40 PM

Serious. Studio.. 500+ sq ft la

Actually, the developer (EmKay? MK Land?) not so smart. If Im not mistaken, this unit im staying has 3 rooms! 3!. They use dry wall to separate them.

Marketed to students, but a lot of young execs stay here. Rental is super low.

edit: actually got bigger units here in the cornders.. i checked the plan kecemasan. but dont know how big it really is. couldnt be bothered, this is a horrible place to live in. I wouldn't recommend it to families. There are just 2 of us, so that is OK

This post has been edited by wild_card_my: Dec 20 2018, 01:45 PM

in any case, the landlord here removed the drywall to accommodate a "living area". bad setup, this condo.

Cyberjaya area taking a beating... how low can it go?

What a pity they lost so much in terms of:

1. capital (lower selling price now)
2. negative cash flow
3. opportunity cost

Some people who did other forms of investment made so much more in these 5 years, for example, ASB-financing - which is stupid easy to do, and considered an autopilot. Heck, they can even just save those installments into unit trust and still earn more. Even as a mortgage broker, when asked by non-clients I would tell them not to jump into properties unless they really know what they are doing. The entry and exit costs are so expensive.

Well it depends. You would still need a house to live in right? However there are options that is to rent. Can you answer these questions before buying a house "for own use"?

1. Are you sure you would be staying there for decades to come?
2. Are there no properties for rent that are cheaper in rental than for you to pay for costs associated with purchasing the house? (installment, fire insurance, mortgage insruance, maintenance + sinking fund, etc.)

I am 32, and I am settling down in Dengkil, near Putrajaya. My wife loves working in Putrajaya, and Dengkil is the place where she could take 15 minutes to get to her office. If she lose her job, she can find other locations to work nearby or she doesn't need to work as I can support this small family of 2.

but young people hardly have a good grasp of where they would really want to settle down. Without really knowing, you are just gambling. Who knows you may actually need to move and rent out your property at a loss because you cannot afford not to subsidize your installment without rental income. The "right property" is something you need to discover - you may think you have found it, but circumstances may change and depending on how much you committed to the property, you may be stuck.

My landlord in Cyberjaya is now stuck. The loan outstanding is higher than the realistic selling price. When he bought this property there were only 2 of them, a studio. Unrealistic for them to remain here, so they had to rent it way below their installment + other fees.

Correlation does not imply causation.

A house, like most properties can be rented out. And you can't compare the US market to ours, there are too many differences. For example, typically their margin of financing is 80% compared to our 90-105%. In the states, the main centers are spread across the whole country. There are multiple major cities in almost each states, jobs are spread across the country. In Malaysia, there are mainly 3 major economic areas, namely KL, JB and Penang.

Oh I know that place... gone through it a few times, even misled me into North-south which I didnt mean to take at the time. Quite good location I guess, right next to the north-south. Why has its value dropped so much? it isn't even cyberjaya...

I believe because it is a Bumi-lot. This developer still havent subdivided from master to strata title, so non-bumi cannot buy yet, the developer will not release. As far as I know la. I am a mortgage guy, not property guy sangat.

Not much drop, but that means people who invested there got inflicted by opportunity cost. 5 years, surely you expect some capital gain? if not might as well rent and not purchase.

Nothing bad per se about buying lelong, you just need to check if the property has any due, because you would be responsible for that. Plus with lelong you need to pay the balance (after deposit) in 90 days, strict, failing which they can take your deposit or you can be charged penalty (As per what my client had to pay for not fulfilling the time stipulations)

I cannot for sure determine it is a bumi lot, but from the thread for "Symphony hills", one user claimed that it was a bumi lot.

For freehold cyberjaya, eventhough the property was bought with "bumi discounts/rebate", it can be transfered to non-bumi once the property receives the strata/individual title. Property sifus correct me if im wrong.

So assuming that the property is strata, even after getting the title, if the owner is Bumi and wants to sell, they need to get consent from pejabat tanah? which other places are like this eh? Dengkil as well? I mean Cyber is under Dengkil?

Katsunori-san left the country without paying his dues?

Any idea whom to call to get further clarifications on some areas? Pejabat tanah?

This post has been edited by wild_card_my: Dec 20 2018, 11:58 PM