If you're still buying from the developer, it's not considered as subsales. Unless the developer sold these units to a holding company and you purchase from the holding company, it's considered as subsales.

The holding company can be somehow relates to the developer. And it's quite common in Malaysia.

Normally they'll only transfer to their internal holding company when they have confident to complete the project with sufficient funds. So it won't be any benefit to buy from holding company, instead, expect at least 10% hike from developer price. The holding company is earning money from trading.

The theories of property development in Malaysia is like,

1. Early investor buy props from developer at low price

2. Funds from investor supports developer to finish the project.

3. Any remaining unsold units will be collected back by developer via holding company to resell at higher price upon completion of project.

4. First batch of investor enjoy to sell their props at higher "market price" bidded by the holding company.

But the problem now is, most of the new project does not receive sufficient investor to complete it. New project now is kinda oversupply specially condos.

I have few developer clients couldn't settle his debt with us in klang valleys..

Developer would rather hold than loss, as long as the project able to complete, the prop would be pushed and sell at higher price.

If the current project's income is slowed down, developer would normally obtain more cash from another new projects or additional phase.

Such like,

Tower 1 obtained 50% investor, release Tower 2 to obtain another 50% to cover Tower 1 construction, upon Tower 1 completion, it can became a "good" record for Tower 2 or possibly Tower 3 to gain investor trust. So, selling below market price is a big "No" for developer.

However, if come to the worst case they would rather abandon the project than completing it with losses because construction material inflate almost yearly and they have no responsibility to fulfill the project completion.

Yes, unless government restrict or hold developer a certain amount of funds to ensure the completion of the project before selling it to public.

So, if you're looking for something below market rate, probably just look for older prop. It's more worthwhile than buying new project or waiting for them to reduce their price.