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New developments to share
- Thread starter wuqi256
- Start date
Re: The Epic 
So for me, I needed a house and I bought what I can see and touch, no uncertainty because development is build then sell concept.
So for me, I needed a house and I bought what I can see and touch, no uncertainty because development is build then sell concept.
Re: The Epic
one big bull chiong lai liao, @ least grab e bull's tail. otherwise seeing dust..
one big bull chiong lai liao, @ least grab e bull's tail. otherwise seeing dust..
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Re: The Epic
If they implement (2) & (3), sure lead to big crash.....
From Chinese article,
1) Replacement of RM 10K state consent fees with 4-5% foreigner ABSD.
2) Disallowing the sale of local-owned properties to foreigners
3) Restriction on sale/transfer of the 1st property owned by foreigner (exact measure unsure).
If they implement (2) & (3), sure lead to big crash.....
From Chinese article,
1) Replacement of RM 10K state consent fees with 4-5% foreigner ABSD.
2) Disallowing the sale of local-owned properties to foreigners
3) Restriction on sale/transfer of the 1st property owned by foreigner (exact measure unsure).
Re: The Epic
Johor govt increases processing fees for foreigners buying properties to 4%-5%
Posted on October 8, 2013 - Featured, Property News.
By ZAZALI MUSA | [email protected]
The State Assembly building with Johor’s Kota Iskandar in Nusajaya.
PASIR GUDANG: Foreigners buying properties in Johor beginning from January next year will have to pay higher processing fees of property ownership instead of the flat rate of RM10,000 now.
Under the new rate, foreigners would have to pay between 4% and 5% of the sales price of the properties.
“For instance, a foreigner buying a RM1mil bungalow, he or she will have to fork out at least RM50,000 in processing fee to own the property,’’ State Housing and Local Government executive councillor Datuk Abdul Latif Bandi told a press conference after opening the Green Industry seminar organised by the Pasir Gudang Municipal Council yesterday.
He said the new rate would be implemented not only on new properties but also properties in the secondary market.
“They now pay a flat rate of RM10,000 for residential, commercial and industrial properties and it is unfair to the state government,’’ he said.
He said the the flat rate had been around for so long and that the state government was the one losing the revenue that it was supposed to get from foreigners.
Abdul Latif said with Iskandar Malaysia becoming the hot spot for investors, including foreign property buyers, the time was “right” for Johor to introduce the new ruling.
He also said foreigners were no longer allowed to buy properties in the secondary market from locals but they could buy them from foreigners who owned the properties.
“The new ruling is only for foreigners, locals are not subject to it,’’ he said, adding that while Johor continued to welcome foreign property buyers, the state also wanted to protect the interest of locals.
Asked whether the new ruling would have impact on the Iskandar property market, Abdul Latif said it was unlikely to happen as the new rates were reasonable.
He said compared with Penang and the Klang Valley, the soon-to-be implemented fees for foreigners buying properties in Johor were much lower than in those two places.
Johor govt increases processing fees for foreigners buying properties to 4%-5%
Posted on October 8, 2013 - Featured, Property News.
By ZAZALI MUSA | [email protected]
The State Assembly building with Johor’s Kota Iskandar in Nusajaya.
PASIR GUDANG: Foreigners buying properties in Johor beginning from January next year will have to pay higher processing fees of property ownership instead of the flat rate of RM10,000 now.
Under the new rate, foreigners would have to pay between 4% and 5% of the sales price of the properties.
“For instance, a foreigner buying a RM1mil bungalow, he or she will have to fork out at least RM50,000 in processing fee to own the property,’’ State Housing and Local Government executive councillor Datuk Abdul Latif Bandi told a press conference after opening the Green Industry seminar organised by the Pasir Gudang Municipal Council yesterday.
He said the new rate would be implemented not only on new properties but also properties in the secondary market.
“They now pay a flat rate of RM10,000 for residential, commercial and industrial properties and it is unfair to the state government,’’ he said.
He said the the flat rate had been around for so long and that the state government was the one losing the revenue that it was supposed to get from foreigners.
Abdul Latif said with Iskandar Malaysia becoming the hot spot for investors, including foreign property buyers, the time was “right” for Johor to introduce the new ruling.
He also said foreigners were no longer allowed to buy properties in the secondary market from locals but they could buy them from foreigners who owned the properties.
“The new ruling is only for foreigners, locals are not subject to it,’’ he said, adding that while Johor continued to welcome foreign property buyers, the state also wanted to protect the interest of locals.
Asked whether the new ruling would have impact on the Iskandar property market, Abdul Latif said it was unlikely to happen as the new rates were reasonable.
He said compared with Penang and the Klang Valley, the soon-to-be implemented fees for foreigners buying properties in Johor were much lower than in those two places.
Re: The Epic
Haha. Or try telling ur Sporean relatives (if u have any) abt buying properties in Msia/JB.
Haha. Or try telling ur Sporean relatives (if u have any) abt buying properties in Msia/JB.
Re: The Epic
(2) Disallowing the sale of local-owned properties to foreigners and
(3) Restriction on sale/transfer of the 1st property owned by foreigner
I feel these are not really related to holding power leh... Its not like our SSD, which is about holding power. This is just pure restriction, which is worse. State Govt should just implement (i) foreigner ABSD and (ii) higher RGPT for foreigners instead. Khaled not v smart guy unlike Abdul Ghani.
(2) Disallowing the sale of local-owned properties to foreigners and
(3) Restriction on sale/transfer of the 1st property owned by foreigner
I feel these are not really related to holding power leh... Its not like our SSD, which is about holding power. This is just pure restriction, which is worse. State Govt should just implement (i) foreigner ABSD and (ii) higher RGPT for foreigners instead. Khaled not v smart guy unlike Abdul Ghani.
Re: The Epic
agree.. abdul ghani was better. he also is a more urbane person, speaks better than the current office holder... oh well.
agree.. abdul ghani was better. he also is a more urbane person, speaks better than the current office holder... oh well.
Re: The Epic
Maybe prices surge to new height after new policy . Foreign rush to meet Jan date line to avoid the 4-5% additional tax ?
HH launch at 1M , ppl still say worth buying wat , still need to ballot ?
Last time people say COE will drop if they remove taxis from CAT A , price goes higher and higher dispite drastic measure .
Maybe prices surge to new height after new policy . Foreign rush to meet Jan date line to avoid the 4-5% additional tax ?
HH launch at 1M , ppl still say worth buying wat , still need to ballot ?
Last time people say COE will drop if they remove taxis from CAT A , price goes higher and higher dispite drastic measure .
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Re: The Epic
Yes. There will be a knee jerk reaction that will cause the market to surge pending implementation of this new rulings. The next October budget will be key to see how the govt plans to balance out the economic development pace in Iskandar.
Will they kill the golden goose before it lays the golden eggs.?
Yes. There will be a knee jerk reaction that will cause the market to surge pending implementation of this new rulings. The next October budget will be key to see how the govt plans to balance out the economic development pace in Iskandar.
Will they kill the golden goose before it lays the golden eggs.?
Re: The Epic
What you have to worry about if you not a short term flipper. As long as you have the bullets to ride the wave you will find the right timing to let it go. Ie, for own use or long term appreciation will not effected. Very good luck to those who's bought condo. You really need needed.
What you have to worry about if you not a short term flipper. As long as you have the bullets to ride the wave you will find the right timing to let it go. Ie, for own use or long term appreciation will not effected. Very good luck to those who's bought condo. You really need needed.
Re: The Epic
the proposed rulings do not distinguish betwn landed and condos. landed will also be hit .
Re: The Epic
GST could be announced for implementation in 2015. This will create panic buying in 2014. Let's wait for Oct budget.
GST could be announced for implementation in 2015. This will create panic buying in 2014. Let's wait for Oct budget.
Re: The Epic
Absolutely agreed. However thats more unbuild flipping condo than landed. You go and figure it out.
Absolutely agreed. However thats more unbuild flipping condo than landed. You go and figure it out.
Re: The Epic
Problem is the uncertainty. If a foreigner is restricted from selling his first property, there will never be a gd time to let go right? While most in this forum would have bought for self-stay, property remains a major commitment, and it's impt to know that you can sell when you need to.
I am not overly worried, but just felt the various ideas being thrown up are not well thought through. It's also equally crazy to restrict locals from selling to foreigners, when the entire region is just starting to take off, and locals are by far, the most heavily leveraged.
My strategy in JB is based on landed areas with upper/middle class local support, so it's still ok for me. But for pple who had bought in areas with higher foreigner concentrations, eg Medini condos, things could get dicey esp if the foreigners cant sell off their 1st property, and locals can only sell to locals.
Problem is the uncertainty. If a foreigner is restricted from selling his first property, there will never be a gd time to let go right? While most in this forum would have bought for self-stay, property remains a major commitment, and it's impt to know that you can sell when you need to.
I am not overly worried, but just felt the various ideas being thrown up are not well thought through. It's also equally crazy to restrict locals from selling to foreigners, when the entire region is just starting to take off, and locals are by far, the most heavily leveraged.
My strategy in JB is based on landed areas with upper/middle class local support, so it's still ok for me. But for pple who had bought in areas with higher foreigner concentrations, eg Medini condos, things could get dicey esp if the foreigners cant sell off their 1st property, and locals can only sell to locals.
Re: The Epic
demand for taman molek will always be there as it is one of the few taman that higher income locals aspire to.
i am not sure most of us here are not flippers. i think at least 50% are flippers here in this forum?
definitely, no one likes to be restricted in the sale of their assets. who likes being told one can't sell his house to this group or that group?
demand for taman molek will always be there as it is one of the few taman that higher income locals aspire to.
i am not sure most of us here are not flippers. i think at least 50% are flippers here in this forum?
definitely, no one likes to be restricted in the sale of their assets. who likes being told one can't sell his house to this group or that group?
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