Actually they are Rian (turkish origin) and miho (japanese).

Sales not bad because of good location.

Lucky grandson

Just thinking about this leasehold, what happen after the period? Need certain amount to renew the leasehold period or there is a possibility that this cannot be renew?

How much the amount can be if it is possible to renew? Like now you buying at RM600k++, I doubt you will need to pay back the exact same amount.

I read about this from an article which describe the calculation for landed: http://www.starproperty.my/index.php/artic...r-kuala-lumpur/

but just a small portion on non-landed properties:

Renewal of lease for properties with strata titles (non-landed properties)

For the renewal of properties with strata titles such as condominiums and apartments, there is a new provision for this under the newly created section 90A(8) of the NLC, whereby the application may be made by the management corporation on the authority of an unanimous resolution, and such application shall be regarded as an application in respect of the alienated land and provisional block.

This basically means that the master title (that the condominium sits on) as well as all the strata titles of the individual units in that particular condominium must be renewed at the same time and the application shall be done by the management corporation concerned.

I am thinking whether it will be cheaper compare to landed as if calculate by land size, it should be cheaper since quite a number of owner to share.

This post has been edited by stevenkkh: Apr 15 2018, 04:00 PM

Where can find unanimous resolution?

Think it don't make sense right for anyone to just lose the property ownership for not agreeing to renew the leasehold period?

Not everyone will agreed with the price or manner it proceed, or money to pay.

After 90 years, facilities could be outdated and will cost a lot to replace or upgrade.

This post has been edited by icemanfx: Apr 15 2018, 05:57 PM

Really need to see any example of condo/apt nearing the expiring of their leasehold.

Example, this property you bought for RM600K and the renew fees might be around RM100K, I doubt the property value will drop to less than the lease fees or even RM0 due to the facilities outdated or spoilt at that time.

I believe even the worst facilities also, cannot be the value of property drop below your buying price right or even 50% of your buying price. If this is the case,who will buy leasehold condo/apt anymore as there will be no resell value at all.

No renew means total loss for the owner, there is no compromise here at all and it is not a choice but a must, if the owner don't agree, means the owner need to sell off the property already as it will be total loss once the expiring date come.

This post has been edited by stevenkkh: Apr 15 2018, 06:06 PM

For older condo, price is about value of the land it sit on.

Oldest apartment that I know of is Siewdor building. It's leasehold and was built in 1963. Evacuated in 2014.

https://www.thestar.com.my/news/community/2...y-end-of-april/

I visited it before. It was in very bad shape. The lifts were creaking and you had to manually push the doors open by yourself.

Even beautiful buildings with historical significance like pre-war shophouses kena bulldoze in this country... Just imagine, after 30 years, how will the future generation think about our apartments, especially when they all look about the same.

Leasehold apartment is enough to sustain you in your life... thats it.

There are condos much older than 100yrs in london paris and other part of developed worlds

But locally built quality especially the past 20yrs using untrained workers and develooers means to make maximum profit, after 20yrs most if not all condos will be botch up jobs jor. Dun need to talk avt 50 yrs or 100yrs. Only can syiok sendiri.

This post has been edited by BEANCOUNTER: Apr 15 2018, 07:38 PM

StarMetro reported that the iconic Siewdor Mansion, one of Brickfields’ oldest buildings, had been sold and tenants were given notices to vacate the premises by March 31.

This is not a good example as it is been sold and tenant are told to leave.

What do mean the value of the land equal to the condo? You mean every single unit divided to the amount for the land value? Like the whole land worth RM10 million, if the area have 400 unit, so RM10 milion / 400?

I don't think this make sense, is this consider all this leasehold condo consider as total loss once leasehold pass.

Yes, it might not be in good condition, but will this lead to all condo decreasing in price? Is this means all the condo after 20 years++, 50 years++ will keep depreciating like a car? If follow this logic, this kind of property will not keep increasing the price but keep depreciating?

Are you sure this is the scenario for all high rise building?

No. If you sold it b4 lease expired...yes all stakeholders can share the land cost.

If you sold upon lease expired....you get nothing....

One only needs look at price of condo built in the 1970's.

Look at news report lah my friend.....

When developer bought over prime land with buildings on it....did they ever mention how much the land cost and how much the building cost for the purchase price? No rite. Its all about land value bcos the building they will bulldozed jor....

Leasehold is you lease the land from gov.

You can put anything on top provided the leaae is on going.

Upon the lease expired with no renewal the gov will take back the land. Of course you can remove whatever thing on top at your own cost.

If you can move an apartment on top....by all means.

Obviously, you cannot sold anything from land, house, condo and anything expiring in leasehold.

Who will go buy a land or condo that is expiring in leasehold with no expectation on renewal? That is why it does not make sense to me if any owner nearer the leasehold expiring date not wanting to renew the property.

That is why we discussing here why the owner will not want to renew the leasehold for that property again. Obviously, expiring the leasehold means you lose the ownership of the property.

That is why you need to apply to pay a sum of money to renew the contract of leasehold again else you are no longer the owner anymore.

This post has been edited by stevenkkh: Apr 15 2018, 10:02 PM