PR1MA moratorium
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 Apr 10 2024, 05:52 PM, updated 2y ago
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#1
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Junior Member
333 posts Joined: Jun 2013  
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want to ask ah if the 10 year / 5 year (not sure which, heard all 10 year moratorium updated to 5 year but SNP still write 10 years) moratorium habis, can rent out ? i know can sell only after habis but rent mcm not clear. is moratorium period or indefinitely cannot rent out ? Some say just follow moratorium period, but SNP mcm not clear about renting or maybe i dont understand the legal term for it
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Apr 15 2024, 06:44 PM
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#2
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Junior Member
333 posts Joined: Jun 2013
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QUOTE(PAChamp @ Apr 12 2024, 09:29 AM) Well if you strictly follow your conscience, PRIMA housing is subsidised housing meant for own stay and NOT investment hence the moratorium. Singapore is the model. In SG even if you rent out your HDB flat, you will need HDB approval. But Malaysian love to cari lubang here and there and will not hesitate to buy because cheap (of course lah, it is subsidised) and then rent out and sell after 10 yrs, sure make money because the cost was much lower than market. i understand during moratorium period not allow, just want to see what options I have after 10 years if I want to upgrade. lets say after 10 years, my income increase, but its not like I can sell PR1MA at high price too, as most likely it wont grow much in price. but to sell it at the price i bought it for (479 k for 950 sq ft, basically dev sell as public unit), doesnt seem financially good or viable to upgrade. |
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Apr 15 2024, 06:44 PM
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#3
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Junior Member
333 posts Joined: Jun 2013
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QUOTE(PAChamp @ Apr 12 2024, 09:29 AM) Well if you strictly follow your conscience, PRIMA housing is subsidised housing meant for own stay and NOT investment hence the moratorium. Singapore is the model. In SG even if you rent out your HDB flat, you will need HDB approval. But Malaysian love to cari lubang here and there and will not hesitate to buy because cheap (of course lah, it is subsidised) and then rent out and sell after 10 yrs, sure make money because the cost was much lower than market. i understand during moratorium period not allow, just want to see what options I have after 10 years if I want to upgrade. lets say after 10 years, my income increase, but its not like I can sell PR1MA at high price too, as most likely it wont grow much in price. but to sell it at the price i bought it for (479 k for 950 sq ft, basically dev sell as public unit), doesnt seem financially good or viable to upgrade. |
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Apr 15 2024, 06:53 PM
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#4
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Junior Member
333 posts Joined: Jun 2013
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QUOTE(nexona88 @ Apr 13 2024, 02:47 AM) Selling part during Moratorium periods sure big No No.. the moratorium clause:As when it's actually started... My understanding is after VP. Not before or signing of SNP.. Renting... That no comments actually because many do rent out... And some do "homestay" too with their units The Purchaser shall not be entitled to transfer, lease, charge, assign, convey, sell or otherwise dispose of the said Parcel within 10 years of the date of the SPA or as stated in the restriction in interest in the strata title to the said Parcel, whichever is the later the SPA is Dec 2022, expected completion date is Sep 2026, if follow SPA date, then is Dec 2032 can sell |
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Apr 16 2024, 12:34 AM
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#5
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Junior Member
333 posts Joined: Jun 2013
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QUOTE(AskarPerang @ Apr 15 2024, 10:40 PM) 479K for 950sqft is definitely not affordable housing scheme pricing. I can only guess this is PR1MA Alam Damai. Crazy overprice. its PR1MA Residensi Bukit Gelugor Phase 2 aka Ideal Venice, at central Penang Island. thats why asking, 479k if after 10 years cannot rent, will be problematic to upgrade. many owner under impression that rent limit follow moratorium. so the moment we can sell, we can rent out too |
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