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Yes but its a 'provisional sale', they can only collect deposit and line up buyers for the bumi lots but at anytime the unit may be bought by a bumi, even 2 months before VP. That is why confirmation of whether you get the bumi lot is always very late. I am local so no state consent involved but...

The project I bought is almost fully completed, will VP in Feb. The agreement with SP Setia is we can back out with no forfeit. When I booked, I only paid 5K, the agreement states that they will apply for bumi release and dont owe me any comensation if they fail to get approval for bumi release...

Something doesnt ring true here. There must be some miscommunication. The sale of a bumi release lot to a non bumi whether foreigner or local non bumi cant be confirmed untill the developer gets the bumi release approved. Once it is a pproved it becomes a normal lot. That is why developers can...

If the new measures are implemented and prices drop, developers will have to give discounts or sell at old price as their bumi release buyers may run off and foreigners who booked units under 1M will no longer be eleigible. My friend a Singaporean booked a bumi release unit @ 600K, looks liek...

What do they mean by 'abuse' it?

This is worth exploring, I think its a 'lobang' , a way for foreigners to hold on to these. perhaps you can leave the company to your heirs as well, a way fo leaving the property. I suggest checking with lawyers or the land office for reliable info .

Please check with your lawyers. You cant make a will and leave it to non Malaysian heirs. My friend's father is in his 70s and wants to make a will leaving the house to her upon his death, she is a Singaporean. So is he but he bought it more than 20 years back before the minimum price ruling.The...

Do you mean will it help Medini?I think it will help Medini as long as it remains a special zone. I doubt the IRDA will change that as it would be retracting on their promise and cause a complete loss of trust from investors, also its Leasehold. But there is always a posisbility that Johor will...

Re: SG Loan of Msian Loan Better ? Hidden Costs ? They have asked and answer is No. He bought before the ruling so they cant take the house away from him. His wife is Malaysian but they dont wantt o transfer to her name as eventually they will be faced with same problem, all their chidlren...

It does not affect local Singaporeans, it is what you do in the public that result in Foreigners been rejected. In Singapore PRC are "too loud" and too rowdy. Regardless whether they stay in HDB or Condo or Bungalow; PRC are hated in Singapore. You are right. In terms of investment...

Eventually. But for the first few launches most of us bought 2 bedrooms at below that price. I am glad now that I secured my unit! I think when the first few Medini condos VP in the next few years the Malaysians can sell their units( 2 bedrooms) at below 1M and still make a tidy profit as many...

Re: SG Loan of Msian Loan Better ? Hidden Costs ? Yes it can be sold upon his death, I dont know abt taxes but i assume death duties would apply as its still in his name.The problem in my friend's case is she is single and wants to retire living in that house, she cant afford a house abv...

You're very welcome and I agree with you . Once the other "Skies" are ready, it will be open skies and I think tenants will have more bargaining power.At the moment Sky Suites rental is pretty steep as it has a monopoly and people are prepared to pay for the location.Everything is pretty much...

Re: SG Loan of Msian Loan Better ? Hidden Costs ? I can only answer one of your questions. A Foreigner cannot inherit or receive as gift any Malaysian property that is valued at less than the minimum amount which is now 1M. My friend whose dad is also a Singapoean bought a house 20 years ago...

When the current 500+ K condos reach 1M, if that ever happens, the govt likely will revise the minimum purchase price to 1.5M. I think its inevitable that prices will come down but rental may still do well with more people renting instead of buying.Just gotta wait and see.....SP Setia staff tell...

I hear from one developer that the new taxes applies as long as we're holding the property after Jan 1st no matter although we may have bought earlier. But if they're using the S& P date to caculate years, then for new properties, 3 years are taken up with construction, so its not so punitive...

That was the prediction, that if GST is announced RGT will strengthen, short term anyway. I guess its anyone's guess, fasten your seat belts, its going to be a bumpy ride!:rolleyes:

From what I can see from a few Singaporean friends who tried to make purchases recently they are pushing down the valuation. I think only properties safely abv the 1M mark, as in they were sold abv 1M are likely to 'safe purchases'. Even then a buffer may be needed like 1.2M. I hear some...

Below 1M is now effectively their version of HDB since foreigners cant purchase. From Malaysian point of view its a good move, for those buying for own stay as now they will not have to compete with foreigners for houses in the moderate bracket. Its only investors who may not be happy as prices...

You have a point abt resale, but for Malaysians tax is not as high after first 3 years so some may be willing to sell if profit is worth it and they have a unit that has passed that time, also can still get exemption for one property.