Malaysian Property advice

[OngHuatHuat]

Actually I think they don’t take land as residential properties, if I didn’t remember wrongly, PRs are not allowed to buy Hdb if they own another residential property in Malaysia.

In Malaysia, they call it low cost housing and it is really dirt cheap, even with huge increase in price over this 10 years, but you still can find those low cost flat around 100 plus k in KL. Other suburban areas, low cost flat means cheap small landed.

Back to HDB, actually I hope they put more restriction on HDB ownership by PRs, like longer PR tenure or longer MOP to curb speculations.

Honestly if they have lands in Malaysia, they are not entitled to buy hdb anyway. Afterall what we have been talking here is to ensure and maintain an affordable govt housing pricing for our future generation.

When coming to hdb, priority should always be given to the citizens, follow by PR. I am sure if malaysia give equal rights to foreigners in Malaysia, the locals will be pissed as well. This logic should applied everywhere.

Make no mistake, i am not against PR. I think PR is an integral part within our country community. However, if the PR objective is to take advantage of our housing system to reap a profit, i think its fair that we should ensure that they should not get away for their mercenary approach.

 

[OngHuatHuat]

It is not so easy to withdraw all CPF nowadays by PR, need to fulfill age limit and make promise cannot come back to work.

Anyway, it is not so simple as what you have thought. Initially perhaps you may think it is easy, but for a PR that stay in Singapore for many many years, there are a lot of obstacles need to overcome if you were to relocate back to Malaysia. If your CPF and HDB money can last your retirement for life, then it is relatively easy.
If not, you will have to think of how to start a business, secure employment or generate sufficient passive income to last many years before you die.

Take my case as example, even though I am 33 years old, but I have stayed in Singapore 10 plus years, will be clocking 20 years soon. It is very difficult for me to just leave Singapore and go back malaysia. My entire career is based in Singapore. Perhaps you encounter many cases of PRs go back after taking CPF, but for my relatives, most of them are still staying in Singapore, my uncle who helped me a lot even convert into Singaporean after working in SG for 40 plus years....

If the PR are going to withdraw all their cpf, i think that could be a good indication right?? I assume anyone who keep their cpf money in Singapore are more or less committed to stay, which shall entitled them to certain degree of benefits enjoy by the citizens.

Anyway Singapore govt are always very good at doing backdating, so they should impose the tax on those who decided to leave for good and impose a heavy property tax that profited from any historical hdb sales.

 

[mummy1234]

Hi mummy1234,

There has been much debate on this thread about investing in Malaysian property. One question to settle it. You invested in both Malaysian and Singapore property. So far, which has done better? Returns should include both rental yield and capital gain and currency effects.

Sg property is better for investment but My property is better for own stay cause bigger and cheaper.

 

[trevallyo]

I was keen on investing in Malaysian properties and was looking around. Then Dr M became PM. I have put my plans on hold now. It seems to me that the new govt doesn't have a firm economic plan, other than criticising and blaming others..... I will wait to see what develops.

Many naive Sinkies invested in Malaysia by comparing the ulu HDB flats price & say JB cheap cheap cheap .

Now with roti prata man Dr M who flips agreements with HSR / water / his hostility esp towards Singapore .....

dumb and dumber strikes again..

 

[kuehteow]

dumb and dumber strikes again..

Honestly, there are no right or wrong answer here. It is just different perspective from different people.

Personally, i support the idea of retiring in Malaysia but against the idea of investing in the MY properties. I am sure there are people who managed to pull off a coup investing in MY and those who incur big loss in doing the same thing.

 

[Mergui219067]

Don’t know how friendly Anwar will be towards Singapore.

Dr M has frequent hospital admission for heart problems in addition to 2 bypasses.
He may not be around for too long.

Malaysians who bought Singapore properties years ago laugh the head off with the price hike + much stronger S$ .

 

[Mergui219067]

It is an increase of 55.72% in the number of unsold units compared to a year ago, when unsold units totalled 22,175, inclusive of serviced apartments and SoHos, which are built on land zoned as commercial but have a residential element to them.

Ironically, the states with the largest number of serviced apartments and SoHos – Johor, Kuala Lumpur and Selangor – have unsold stock of 29.12%, 13.53% and 17.86%, respectively. Penang has unsold stock of 33.12%.
https://www.thestar.com.my/business...al-soho-units-at-rm22bil/#uAwHoiJujC2mpdeX.99

 

[kuehteow]

I am just curious....what will happened if the malaysia govt decided to remove the foreigner minimum property cap??

Do you think it will attract more Singaporean to invest in malaysia property?
Will there be a higher demand in property thus causing the property price to improve/worsen?

Honestly i am not sure whether its going to be a good or bad thing for malaysia if this really happened when they realized that more than 50% of the new properties remain unsold in various states.

 

[NewInvestor]

dumb and dumber strikes again..

Aiyo, call me dumb. Lol.

 

[OngHuatHuat]

Nope, it won’t be removed, it is more like a floor price rather than a cap.

It only goes one way, that is up, means foreigners can only purchase lousier and lousier properties at higher price in the future.

I am just curious....what will happened if the malaysia govt decided to remove the foreigner minimum property cap??

Do you think it will attract more Singaporean to invest in malaysia property?
Will there be a higher demand in property thus causing the property price to improve/worsen?

Honestly i am not sure whether its going to be a good or bad thing for malaysia if this really happened when they realized that more than 50% of the new properties remain unsold in various states.

 

[OngHuatHuat]

Landed all sold out at the moment, for your information.

Condo on the other hand..... not so sure since I am not interested in condo developments in Malaysia except for those at superb locations.

I am just curious....what will happened if the malaysia govt decided to remove the foreigner minimum property cap??

Do you think it will attract more Singaporean to invest in malaysia property?
Will there be a higher demand in property thus causing the property price to improve/worsen?

Honestly i am not sure whether its going to be a good or bad thing for malaysia if this really happened when they realized that more than 50% of the new properties remain unsold in various states.

 

[henrylbh]

I am just curious....what will happened if the malaysia govt decided to remove the foreigner minimum property cap??

Do you think it will attract more Singaporean to invest in malaysia property?
Will there be a higher demand in property thus causing the property price to improve/worsen?

Honestly i am not sure whether its going to be a good or bad thing for malaysia if this really happened when they realized that more than 50% of the new properties remain unsold in various states.

The market is in this state may be because they overbuilt and or overpriced the properties. Lowering the price will certainly attract more buyers. But removing the cap for foreigners will only benefit the developers and that make it more unaffordable for the locals.

 

[Mergui219067]

The unsold ones are local-can’t -afford .
Developers have also overbuilt the ‘expensive’ units.

By allowing foreigners again to fight for the low end units is political suicidal .

Take note that overhyped Penang has the most unsold overpriced stock.

 

[kuehteow]

Landed all sold out at the moment, for your information.

Condo on the other hand..... not so sure since I am not interested in condo developments in Malaysia except for those at superb locations.

Those superb location are usually only for leasehold but not freehold, so its still not that ideal at the end of the day.

 

[OngHuatHuat]

Don’t think so lah, malaysia a lot of freeholds.
In fact I seldom heard of leasehold condo in JB.

Those superb location are usually only for leasehold but not freehold, so its still not that ideal at the end of the day.

 

[Mergui219067]

Leasehold in Malaysia also can be renewed to 99 & cheap cheap too.

My relative did that recently for his shophouse .

 

[kuehteow]

Don’t think so lah, malaysia a lot of freeholds.
In fact I seldom heard of leasehold condo in JB.

I believe all the NEW condos around the CIQ/Town center area are all leasehold. The entire Southkey area are all leasehold as well. I think freehold area starts somewhere after SouthKey, Permas and Larkin area.

You know of any new Condo around CIQ/Town center area that is Freehold?

 

[mummy1234]

I think if wanna buy Malaysian property, buy freehold landed better than any condo. I believe Malaysia is the only SEA country that allows foreigners to buy landed. Correct me on this if I am wrong.

 

[cscs3]

Leasehold in Malaysia also can be renewed to 99 & cheap cheap too.

My relative did that recently for his shophouse .

When government change, you cannot be sure if you can do it by the time you need to renew it.

 

[Mergui219067]

This is unlikely political related & not even in the news . Renewable 99 years with a fee is not new in Malaysia.

Dr M is simply anti Singapore & esp target Sinkies. Those foreigners who hold freehold or ‘new freehold / duty free’ Forest City may be the new target after his HSR / water grunts.

When government change, you cannot be sure if you can do it by the time you need to renew it.