Malaysian Property advice

[OngHuatHuat]

All condos near ciq are freehold. That’s why they are priced so high, near city center and a lot of amenities, close to Singapore too.
Larkin is some freehold some leasehold.

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?

 

[cscs3]

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.

He just need to stop what ever money you cash out from "exporting" from Malaysia just like what he did 25 years back. Thats bad enough for all foreign investors.

In his mind, all rules, contract and law can be changed as long as his is in power.

 

[Mergui219067]

The local is not his target except selective political enemies like Najib .
Even well known corrupt like Sarawak Taib is spared.

He just need to stop what ever money you cash out from "exporting" from Malaysia just like what he did 25 years back. Thats bad enough for all foreign investors.

In his mind, all rules, contract and law can be changed as long as his is in power.

 

[OngHuatHuat]

Normally opening of giant shopping mall will bring up neighboring properties price.

Recently, double storey landed has been creeping up, even my parents place also rose a lot. Those 22 x 75 landed double storey are highly sought after and easiest to offload.

Thinking of raising rental soon since now horizon hills valley west is more populated, but need to test water first.

is the opening of southkey likely to impact the surrounding properties prices?, given that IBG has a rather good operational track record capabilities in mall management as well as in turning a god forsaken ground into a hugely successful mall as witnessed from midvalley KL.

Additionally, with the proximity to woodlands customs and just a mere 2km or less from KSL, and just behind the famous taman sentosa where singaporeans are so accustomed with, there is a good chance that it will ovetaken KSL, and be the "go to" mall for the sinkie weekend warriors , as well as locals.

 

[cscs3]

The local is not his target except selective political enemies like Najib .
Even well known corrupt like Sarawak Taib is spared.

When oversea investor is impacted, then is a matter of time local will sufer.

 

[Mergui219067]

Even dirt cheap KL office space is oversupplied

https://www.thestar.com.my/business/business-news/2018/06/25/government-move-on-trx-welcomed/

 

[tuixiu55]

Hi,

You can refer my answers below:

with our SGD in a favourable rate to the RM.
does anyone actually own a Msian ppty. can be in any state.

I have bought a condo unit (freehold) in JB in 2014, TOP last year.


how is the process like?
Process more or less the same as SG condo but I am not sure about bank loan as I didn't take bank loan.


how is your mortgage payment?
Dunno as I paid cash.

what are the taxes involved? wrt rental and, the later part, selling.
I bought it for weekend stay and retirement, so not for rental investment (don't advise to invest in JB for that). JB has "property" or "door" tax, mine is about SGD 400+ per year

i am thinking of a ptty in malacca.
they have those condotel feature, whereby one can stay for X days in a year.
and they also guarantee x% for x years.
Usually is a sales gimmick as I have a friend also bought a condo with guarantee rental for x years, ends up the developer use the marked up price as buffer for such "rental".

any comments or advice?
If you want to buy for retirement as lower cost of living, and like the "convenience" of crossing the bridge (hopefully RTS will come) as well as to leave a "freehold" legacy for your kid, then you can consider. My monthly electrical bill is zero as our monthly usage (only use when we stay weekends but our fridge is 24x7) always lower than RM 20 per month, so it's waived.

 

[kuehteow]

Hi,

You can refer my answers below:

with our SGD in a favourable rate to the RM.
does anyone actually own a Msian ppty. can be in any state.

I have bought a condo unit (freehold) in JB in 2014, TOP last year.


how is the process like?
Process more or less the same as SG condo but I am not sure about bank loan as I didn't take bank loan.


how is your mortgage payment?
Dunno as I paid cash.

what are the taxes involved? wrt rental and, the later part, selling.
I bought it for weekend stay and retirement, so not for rental investment (don't advise to invest in JB for that). JB has "property" or "door" tax, mine is about SGD 400+ per year

i am thinking of a ptty in malacca.
they have those condotel feature, whereby one can stay for X days in a year.
and they also guarantee x% for x years.
Usually is a sales gimmick as I have a friend also bought a condo with guarantee rental for x years, ends up the developer use the marked up price as buffer for such "rental".

any comments or advice?
If you want to buy for retirement as lower cost of living, and like the "convenience" of crossing the bridge (hopefully RTS will come) as well as to leave a "freehold" legacy for your kid, then you can consider. My monthly electrical bill is zero as our monthly usage (only use when we stay weekends but our fridge is 24x7) always lower than RM 20 per month, so it's waived.

Just curious which location did you buy for your JB unit and how much you pay for it? I believed your property should fall into the 500K cap if you buy in 2014.

Your malacca property is also for own stay or investment?

 

[foozgarden]

Hi,

You can refer my answers below:

with our SGD in a favourable rate to the RM.
does anyone actually own a Msian ppty. can be in any state.

I have bought a condo unit (freehold) in JB in 2014, TOP last year.


how is the process like?
Process more or less the same as SG condo but I am not sure about bank loan as I didn't take bank loan.


how is your mortgage payment?
Dunno as I paid cash.

what are the taxes involved? wrt rental and, the later part, selling.
I bought it for weekend stay and retirement, so not for rental investment (don't advise to invest in JB for that). JB has "property" or "door" tax, mine is about SGD 400+ per year

i am thinking of a ptty in malacca.
they have those condotel feature, whereby one can stay for X days in a year.
and they also guarantee x% for x years.
Usually is a sales gimmick as I have a friend also bought a condo with guarantee rental for x years, ends up the developer use the marked up price as buffer for such "rental".

any comments or advice?
If you want to buy for retirement as lower cost of living, and like the "convenience" of crossing the bridge (hopefully RTS will come) as well as to leave a "freehold" legacy for your kid, then you can consider. My monthly electrical bill is zero as our monthly usage (only use when we stay weekends but our fridge is 24x7) always lower than RM 20 per month, so it's waived.

thanks for sharing.

if you only go dropby your apt once/twice a month.
wouldnt there not be a stale air... not sure if you know what i mean.

also if its a condo, do you need to pay the mthly maintainece fee?

 

[grenoble]

Normally opening of giant shopping mall will bring up neighboring properties price.

Recently, double storey landed has been creeping up, even my parents place also rose a lot. Those 22 x 75 landed double storey are highly sought after and easiest to offload.

Thinking of raising rental soon since now horizon hills valley west is more populated, but need to test water first.

No harm trying, can test see how desirable the tenant deem your unit is

 

[layang99]

hi,

with our SGD in a favourable rate to the RM.
does anyone actually own a Msian ppty. can be in any state.

how is the process like?
how is your mortgage payment?
what are the taxes involved? wrt rental and, the later part, selling.

i am thinking of a ptty in malacca.
they have those condotel feature, whereby one can stay for X days in a year.
and they also guarantee x% for x years.

any comments or advice?

I also exploring Melaka as well, specifically hotel investment under Hatten group. I understand Hatten is a S'pore developer. Anyone here has experience or advice with their "guaranteed rental return” (GRR) scheme ?

 

[henrylbh]

I also exploring Melaka as well, specifically hotel investment under Hatten group. I understand Hatten is a S'pore developer. Anyone here has experience or advice with their "guaranteed rental return” (GRR) scheme ?

Guaranteed rental return is the return of money that you have paid them upfront in the purchase price. No?

 

[layang99]

Guaranteed rental return is the return of money that you have paid them upfront in the purchase price. No?

On 6% guaranteed for 6 years, after that is depend on market value. Based on my calculation, can get back capital at the 16 years provided same rental return and no depreciation of mkt value thereafter.

 

[layang99]

I have a friend who bought some condo in Melaka, those with rental gurantee and they help you rent out for x years. After that period, the condo basically left vacant for many years until now.
Malaysia properties just not worth investing in, PERIOD!

Yes, I am afraid this could be a probable outcome ..

 

[henrylbh]

On 6% guaranteed for 6 years, after that is depend on market value. Based on my calculation, can get back capital at the 16 years provided same rental return and no depreciation of mkt value thereafter.

Can only dream and hope the dream comes true.

 

[henrylbh]

Anyone knows whether our grant of probate (where there is a will) or letter of administration (where there is no will) be recognised in Malaysia to deal in a deceased's assets whether held singly or jointly?

Any lawyer in Malaysia is needed or additional procedures needed to deal in a deceased's assets?

 

[OngHuatHuat]

Sg lawyer once told me before Sg court can only have power over Sg assets, think you have to seek advice from Malaysia lawyers

Anyone knows whether our grant of probate (where there is a will) or letter of administration (where there is no will) be recognised in Malaysia to deal in a deceased's assets whether held singly or jointly?

Any lawyer in Malaysia is needed or additional procedures needed to deal in a deceased's assets?

 

[NewInvestor]

Anyone knows whether our grant of probate (where there is a will) or letter of administration (where there is no will) be recognised in Malaysia to deal in a deceased's assets whether held singly or jointly?

Any lawyer in Malaysia is needed or additional procedures needed to deal in a deceased's assets?

Once a Spore Court issues a Grant of Probate, you have to send that to a Malaysian lawyer who will start procedures to have that Grant of Probate resealed by the Malaysian Courts. That resealed Grant of Probate has the same effect as a Malaysian Grant of Probate which can then be used in respect of Malaysian assets. Malaysia has estate duty and you have to pay estate duties before the Courts will reseal the Grant of Probate.

All these may take some months or even longer depending on the nature of the Malaysian assets.

As usual, please DYOR.....

 

[henrylbh]

Sg lawyer once told me before Sg court can only have power over Sg assets, think you have to seek advice from Malaysia lawyers

That's for sure. The GOP or LOA is not legally enforceable beyond Sg. But do My recognise our GOP or LOA?

 

[henrylbh]

Once a Spore Court issues a Grant of Probate, you have to send that to a Malaysian lawyer who will start procedures to have that Grant of Probate resealed by the Malaysian Courts. That resealed Grant of Probate has the same effect as a Malaysian Grant of Probate which can then be used in respect of Malaysian assets. Malaysia has estate duty and you have to pay estate duties before the Courts will reseal the Grant of Probate.

All these may take some months or even longer depending on the nature of the Malaysian assets.

As usual, please DYOR.....

Thanks for the starter.