Hello guys!

Would like to ask if anyone got experience or can provide some guidance.

I own a low medium cost apartment about 2 years. (Second hand)
Was introduced by my uncle, consider a good investment as the rental is smooth (god bless).

Recently was planning to buy a house for my own and prepare for marriage, so thinking of to sell this apartment and use it for downpayment.

But I heard low medium cost apartment have to wait after 5 years only allow to sell? Is this true? Or is there any way I can find the information.

Seek all Sifusss advice.

Thanks in advance!

Check your SPA, restriction if any will be stated clearly

Each State will have their own policy regarding govt assisted housing with regards to subsale.

If Sgor, is 5 years from SnP.

This post has been edited by mini orchard: May 23 2022, 09:08 AM

SPA didn’t stated, that’s why I tot is fine to sell until my uncle inform 🥲

It’s in JB, mind to share which source I can check the information? Or the correct terms to check 😅 tried to googled but seems like all irrelevant info.

Check with your previous SnP lawyer. They should be able to assist you or provide the link.

SnP wont state restriction in interest.

SnP is between seller buyer.

Restriction in interest is between owner and State govt.

This post has been edited by mini orchard: May 23 2022, 09:31 AM

Can sell instantly just need pay extra tax , after 5 yr no tax. If that property is a positive cash flow asset why sell it ?

What is the tax seller require to pay ?

Property tax lo to prevent flipper one

That is normal for a seller if he makes a profit .... rpgt.

TS is refering to restriction in interest.

Normally ppl mention 5 yr is this case la.

Read properly.

TS uncle said CANNOT sell. Is not about tax payment. Even if want to pay tax, state govt wont allow !

TS and TS uncle also blur blur dei, go check SPA first la, he say, she say for what. Usually if it's under gov housing projects, yes, got sekatan, else it's just recommended not to sell within 5 years to avoid RPGT

Just speak with your banker. Get a housing loan by refinancing the exising low-medium apartment.

Ask yourself if you would be willing to keep the apartment as investment?

Firstly, folks should not buy government assisted housing for investment be it PPR, Rumahwip, Rumah selangorku etc. Please reserve it for buy to stay. Of course such property will be profitable because tax payer monies are being used to subsidise you.

Now that is off my chest, is your property with or without strata title? Leasehold or freehold? If with title but leasehold with restriction, your application for consent to the state will have to comply with their requirements or they will reject. If freehold, you are very lucky ...can sell.

If no title, have to ask for developer confirmation... if developer refuse to give because of 5 year rule, cannot sell. Or if developer ask for state approval but you can't get it because of 5 year rule, then cannot sell.

5 years is very short. Just wait a bit. Sell to deserving folks if you can.

In general or Johor state only ?

This post has been edited by mini orchard: May 23 2022, 01:27 PM

general

In Sgor, freehold tenure govt housing ALL require consent.

Actually if the title is already out, the state can't stop you.

Is a requirement for transfer.

Not enough detail. You said you bought it second hand so it has already changed hands in subsale market? How did you acquire it? Lelong or other means? Check with the solicitor who executed your sale.

Geez people really need to be spoon fed everything.

Check your title...if there's a sekatan kepentingan then you will need to apply for state consent before you can sell the property. If no title yet, need to get the consent of the developer

If no strata title yet, both state and developer consent are required.

Developer has no authority over public housing transfer. They merely register the name approved by the state authority.

Similarly, all new public housing applications have to be approved by the state through the developer.

This post has been edited by mini orchard: May 23 2022, 05:21 PM

Yes. i think you are right.

And actually now if you stay in Klang valley and you purchased the Rumah selangorku or RW (Rumawip).
Within 10 years you can't sell.

Actually now no more new low cost flat, i think.
they revise the name to affordable house.
Last time you may get a low cost house around RM 30-50K. Now around RM 250K to RM 300K

This is why, buyer is encourage to settle their loan as much as possible to redeem the title.
and proceed the POC/POT upon 1-2 years you get the key.
Because during the way, some developer might be winding off...