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

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

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be around RM100K, I doubt the property value will drop to less than the lease fees or even RM0 due to the facilities outdated or spoilt at that time.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

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?

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

Seriously, are you following my question at all? I am saying why on earth will the owner of a condo does not want to renew the leasehold property they own but instead choose for total loss.

Are you trying to tell me all leasehold owner for condo will not renew their expired leasehold and take this whole thing as total loss and move? Sounds weird and unrealistic to me.

Everyone know that, refer to my article above for the fees, the same goes to any property with leasehold title. That is why I said who on earth will want total loss instead of forking out certain amount to renew the leasehold.

Not make sense to me if anyone rather total loss than to renew the ownership of their property.

Yes, I am just curious with some opinion here telling me that condos will be worthless as times goes which sounds weird to me, it is like total loss every 10 years goes like the car, how can that be actually?

So any condo build in the 1970s become cheaper to the buying price at that time? I don't think so. So many old buildings around, I don't see any of that become cheaper instead. All become more expensive and some even the land is more expensive that the building on top of it.

It does not make sense at all if someone telling me the condo price will be depreciating as the building become older especially till become total loss.

Your reasoning is weird, if they does not want to renew, they will choose to sell it off instead of total loss for anyone interested on the condo to price in the renewal fees along.

Who will want a total loss after years of cash to buy a condo? Imagine you have any property who is expiring and you can renew the lease, you will reject and wait for total loss instead? Not logic to me!

After left for example 30 years and below, your property obviously will be cheaper in range compare to the rest of the freehold and just look around after 30 years, the value will raise few hundred percent already. Look at 1970s, the houses can cost less than RM100k. Look around the years you mention, you will find everything raising to surely double up. I have no example of condo but I can see this from landed that have 10-20 years before expiring and if you in Selangor, you can apply earlier especially the recent scheme of just paying RM1K to renew with condition.

Yes, you will not want to forfeit your ownership till you get back you money. So if you are offer to renew, I doubt anyone will reject as if they does not want to renew, atleast they cash out to someone who interested to renew.

At that time, I don't think anyone will want forfeit their property to total loss into not renewing. You think all this people staying in high rise building will let go their investment just like that and restart again.

This post has been edited by stevenkkh: Apr 16 2018, 02:13 PM

See the calculation method, the value of the property cannot be over than the market price of the property as the price is calculated lower based on the market price at that time of the per sqft.

That is why Selangor came out with this RM1K scheme for all the renew the leasehold on condition you cannot resell unless you pay finish the sum.

This is the question, why will the property price decrease if the land value keep increasing as both is inter related? If the land become valuable after 99 years, how on earth will your unit become 0? I just look at the house property, if you buy at 70s till now, the price raise atleast 10 times more.

If it is been offer to extend the leasehold, high chances everyone will agree as it is simple maths calculation.

This post has been edited by stevenkkh: Apr 17 2018, 02:48 PM

This no longer related to the developers. Plus this is really political as if Gov or State Gov take the land back to resale to another developer.

Example will be all the upcoming leasehold house which is been offer to be able renew. If the State Gov want to be rich, yes, they could stop all renewing process of leasehold and resell all the high price land but due to political reason, they are reluctant to bear such reputation.

This is the scenario with a if everyone been offer for extend leasehold, a simple maths will show it is the most beneficial. As times goes by, the so called unanimous decision can be translated to majority, who know that every single one need to agree and just majority will do. Those does not agree will lose their ownership when the times come, as easy as that. Maybe at that time, more will be interested to get cheaper property from all this so called people who don't want to extend their leasehold

Yes, the price will increase and hardly going backwards till your buying price.

Again, the same question again and again, refer to the calculation method above and you will know it will definitely be lower than the market price, maybe 2/10 of the market price to renew back.

After lease end, it will usually be back to the state government, this is where the political cause come into picture on why they refuse to renew the lease.

This post has been edited by stevenkkh: Apr 17 2018, 05:11 PM

For house, the lease period is standard, 99 years and no clause for not selling condition after renew. This is real example as I see my relative done that. Selangor even provide the guide to renew without asking lawyer to assist you (save you from huge lawyers fees).

As you see, you only cannot sell after renew if you subscribe to special scheme like the one in Selangor, just pay RM1k to extend and when you want to sell, you have to pay back the full premium you owe them (no idea how is this calculated as compare to previous renew time market price of sqft or the current market price of sqft)

This post has been edited by stevenkkh: Apr 17 2018, 05:05 PM