please refer to Askar's post. He said that this lelong prop is a brand new which the winner collect keys from developer's office.
So, no need to pay progressive interest like when u buy undercon unit.

Wanna ask otai-otai and agent here, my basic salary is merely RM3.1k, adding allowance can reach RM4k. Not yet own a house. If would like to join in auction, how's the chance of me securing loan within 90 days and what's max loan I can get?

How come can afford porsche but no money to pay installment?

Yes mate. My bad.

Not necessarily poor but the needy.

Very unfair.

I wonder how the guy can be so happy making money by depriving the truly needy.

Low costs home require state consent and the criteria of ownership is clearly outlined.

I know we live in a capitalist country but our country also has some socialist policies. One of it is to provide some sort of “protection” to certain category of people to affordable homes.

As in the example highlighted we are specifically referring to low cost homes.

The idea is to make sure those whose earning capacity is beyond a Certain threshold don’t enter into a market which is reserved  for another market.

This is a socialist concept.

It’s like running a race mate. You can’t have fully abled participants competing in the Paralympics. It’s reserved for those who have physical challenges.

I hope that parallel assists.

Kind regards

Take a chill pill

You don’t have to shout

I suggest you read up about housing policies in malaysia.

Further the status of the property will be stated on the title as to whether it’s a low cost or medium cost property

It’s not about speculating - it’s about buying something that you are technically not eligible.

Anyway mate - everyone has differing views.

I may have more socialist views.

Please carry on doing what you think is right.

Peace

I bought a low cost 20 years ago at 42k. Currently market value at 130k but still classified as low cost. Last checked with MPSJ about the cukai taksiran.. MPSJ said it's waived because my unit is under low cost status.

Wondering if there is any restriction to buyer for low cost purchase through subsale?

The examples given in Penang are clear cut low cost flats. "Low cost" or "not low cost" status is not based on today market pricing.
Doesnt matter how much was the initial price government sold to the 1st hand owner.
Few low cost flats in KL already breach the 200k pricing and yes got people will still buy.

Even when bank value at 200k, the low cost flats status remain unchanged, will still be considered as low cost flats. Got restriction when want to buy and when want to sell back such property.