in my whole life being a malaysian i never heard such a stupid policy restricting sale of assets to so and so class of people. ridiculous! johor world class city? don't make me laugh!
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Johor to ban foreigners from buy secondary-market properties?
- Thread starter HorizonHillsBukitIndah
- Start date
in my whole life being a malaysian i never heard such a stupid policy restricting sale of assets to so and so class of people. ridiculous! johor world class city? don't make me laugh!
Proposed only. Not approved yet.
http://www.propertyguru.com.my/prop...-to-charge-foreigners-processing-fee-based-on
“We will table the new condition in the budget sitting of the state legislative assembly, which will sit soon, for approval,” he revealed.
http://www.propertyguru.com.my/prop...-to-charge-foreigners-processing-fee-based-on
“We will table the new condition in the budget sitting of the state legislative assembly, which will sit soon, for approval,” he revealed.
4% - 5% still lower than Spore's Additional Buyer Stamp Duty (ABSD)
http://www.iras.gov.sg/irashome/page04.aspx?id=12832
To the govt, the bumiputra class is most important...
actually, i totally forgot that there is such a rule. it's been in place for so long i totally forgot. ::slaps head:: it's called "BUMI LOT".
and did you all know there are quite a no of well-off bumis don't buy bumi lot? why? cos they don't want govt to restrict their market when they need to sell on.
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I guess tat should be the right thing to do. Bumi lot should be given to those not very well-off bumis.
Isnt quite correct, bumi lot buyer can change title and sell to anyone (after changes). Bumi lot can easily change unlike malay reserve which is another type that cant be changed. There is alibaba practice around in the market, reason bumi lot not taken up because there isnt really a lot of rich malay around and not that much ppl drilling loophole.
May be good to focus on which are the better developments for the time being. Any idea when the assembly will debate the proposal ? It is interesting such increase has to go to the assembly, in Singapore they just announce it at the end of the working day.
there are some units AH, bumi lot converted, but still can't sell to foreigner, can only sell to malaysian. This is according to prop agents who marketing them. Don't know the details. anyway read your other point about speculation killing iskandar - good point! if rules implemnted should be quite an interesting "show". i believe a lot of local speculators will be badly hit.
Now my friend is panicking as he bought a unit in Twin Galaxy and he is a Malaysian......
I told him "your government is tying up locals hand and tell you to fight with foreign investors."
All foreigners should thanks the Malaysia Government for implementing this new ruling. We should all embrace it.
I told him "your government is tying up locals hand and tell you to fight with foreign investors."
All foreigners should thanks the Malaysia Government for implementing this new ruling. We should all embrace it.
In Malaysia, things are only confirmed upon implementation. Even then, they U-turned many major policies in the past. 25 Oct is the date of Budget 2014. I bet GST will be implemented but the rest may be no. GST itself will slow down the economy initially, so I'm not expecting too many drastic changes that reduces investments. Note if GST is implemented in 2015, expect demand and price surge in 2014 as people buy early to avoid GST and other price increase that developers are going to bear.
http://www.theedgemalaysia.com/high...nt-further-rating-downgrade-for-malaysia.html
Foreigners pay $10,000 to the government coffers = government happy.
Locals pay nothing to government and buy lesser than $500,000, then sell to foreigners and make killings = government LL.
Government LL now make local LL = Government happy.
no lei, you all kena 4-5% tax . mean when you try to resell (to foreigner only, since local already kena burnt), future buyer will think twice. overall, no good la for those vested.
but as long as can hold, then life goes on....
No lah. local sell to foreigner, govt still collect 10K RM. new MB just wanna make a statement for change (i.e called 'grandstanding').
Bumi Lot not easy to change leh. It is written in the land grant with plenty of other emcumbrances attached. That too you have to pay back the difference in the selling price to the authorities and wait for years to get it approved.
If using Alibaba style, would you put in millions of dollars yet the name on the title is someone else even though you have a deed of assignment? The real problem is when the actual title is issued many years later and you discovered that it is not registered in your name. Damn....and you have to pay all those mortgages for the next 25 years.
Malaysian got their way of doing thing that might get u in trouble in sg if doing the same thing. That all i can say...detail confidential. I think the if new ruling implemented, then same project...let say 88 or HH will have 2 market. Eg Sinkkie will pay 4m for bungalow in HH in future while neighbour local pay 2m for exactly same thing. Probably local with some lubang outbeat foreigner again if both of them want to sell off.
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