Living in JB 2 (Johore)

[arsenal]

Can anyone organize a mass buy of 1Medini so that we can buy at a greater discount? Or is there goupon service for such purchase? The price below 500K is attractive.. Buy before such deal is gone..

 

[DREAMorACTION]

Think u have a higher chance offering cash buy. One developer was willing to give 4% discount for cash purchase ..

Can anyone organize a mass buy of 1Medini so that we can buy at a greater discount? Or is there goupon service for such purchase? The price below 500K is attractive.. Buy before such deal is gone..

 

[DREAMorACTION]

Isn't that shooting own foot? Lower sales and highEr levy, that will do well !

For those bros who planing to buy , do it fast . Got a hint from MY lawyers that they are going to up the foreigner levy from current 10K to 30K liao ! Any bros here receive the same info ?

 

[DREAMorACTION]

Can la. u can get to medini from nusa bestari using your ferrari in 5 mins at least u have a chance getting one facing the guard house, better than car park right?

5.30?..how to throw cheques at them?...i still need to go bugis to get divination lot from kuan yin first....shang shang qian then can buy,....after that got to go home ask my cai shen (wife) for clearance also...i reckon by the time all done, left carpark facing units only..haha.

 

[jasonjst]

Isn't that shooting own foot? Lower sales and high levy, that will do well !

Bro foreigner levy got nothing to do with developer leh . The whole purpose is to slowdown purchase by foreigner due to overheating similiar to 14% stamp duty introduce in SG . Now FTs from Singapore , China chiong JB properties instead . Nabeh the JB state gov got worried and wanted to increase levy liao . Otherwise after election kena pay cut of 40% like our Ministar in SG , haha . Bro Polarbear is one of them .

 

[DREAMorACTION]

I know bro. I was referring to the total cost. Lower sales, no lower price, up levy, so still need to fork out more ... I hope they don't up la .... I'll be buying one in feb!

Bro foreigner levy got nothing to do with developer leh . The whole purpose is to slowdown purchase by foreigner due to overheating similiar to 14% stamp duty introduce in SG . Now FTs from Singapore , China chiong JB properties instead . Nabeh the JB state gov got worried and wanted to increase levy liao .

 

[euphony]

how many to activate deal?

Can anyone organize a mass buy of 1Medini so that we can buy at a greater discount? Or is there goupon service for such purchase? The price below 500K is attractive.. Buy before such deal is gone..

 

[yonglip]

Can la. u can get to medini from nusa bestari using your ferrari in 5 mins at least u have a chance getting one facing the guard house, better than car park right?

eh..how u know i got FELALI....u been peeping at my TOY CAR collection?..

 

[DREAMorACTION]

Thinking bout it. If they up the levy, lower sales, lower demand, price has to come down, or at least at the sub-sale market. Then I might as well buy from sub-sale. Even if I buy one at sub-sale a year from now, will still get a unit from a new launch sooner

I know bro. I was referring to the total cost. Lower sales, no lower price, up levy, so still need to fork out more ... I hope they don't up la .... I'll be buying one in feb!

 

[jasonjst]

I know bro. I was referring to the total cost. Lower sales, no lower price, up levy, so still need to fork out more ... I hope they don't up la .... I'll be buying one in feb!

Feb still got chance to beat the increase lah. The lawyers also dont know when they will effect this levy thingy, hope they dont do it so soon lor .

 

[euphony]

Was told by an agent that Medini will have a lot more apartments. Impiana might be the last apt in East Ledang & freehold too, so in my opinion that could be a better buy.

the location kinda off. away from puteri harbor, just slightly further from 2nd link from EL's condos which has location advantage currently since it is a stone's throw from anjung. If the location is in the heart of medini, flanked left right by office blocks (or potential) then got fight...

 

[DREAMorACTION]

Ur look is so distinctive. Ur physique is so solid. Ur felali is in pink, so unique. Okay, before u fly too high, the main reason I know its u is because ur wife indeed looks like cai shen Huat Huat Huat ar!!!

eh..how u know i got FELALI....u been peeping at my TOY CAR collection?..

 

[jasonjst]

Thinking bout it. If they up the levy, lower sales, lower demand, price has to come down, or at least at the sub-sale market. Then I might as well buy from sub-sale. Even if I buy one at sub-sale a year from now, will still get a unit from a new launch sooner

This is your thinking , not the market thinking , haha .
Remember , previously we were talking about foreigner limit to increase to 750K ? Now with new levy of 30K , you basically need almost 800K to buy a house in JB liao . Under such scenario , people will rush in before it take effect , pushing price up .

 

[DREAMorACTION]

It's undeniable that property is a strong catalyst to iskandar's growth. Raising the price ceiling to raise the GDV is part of strategy, but introducing higher levy to dampen the property market is not a wise move, in my opinion, at least for the foreseeable future.

Yah, my thinking, my fantasy and my dream. What's a man without dreams ?

This is your thinking , not the market thinking , haha .
Remember , previously we were talking about foreigner limit to increase to 750K ? Now with new levy of 30K , you basically need almost 800K to buy a house in JB liao . Under such scenario , people will rush in before it take effect , pushing price up .

 

[Diaspora]

I had the same feeling when I went to visit HH. I think its getting overpriced, because of all the hype.
Furthermore when I saw how much they were planning to build, I felt that there may be an oversupply of houses at one point.
Though the place is awesome, I think they are increasing the prices due to hype.

thats gd , let them continue to think that way ...
i dun wan all this ppl come to pollute jb ....

I totally agree...let these ignorants stay that way...I surely dont want to share my taman with them around and talking bad about the place they stay...

 

[Diaspora]

I had the same feeling when I went to visit HH. I think its getting overpriced, because of all the hype.
Furthermore when I saw how much they were planning to build, I felt that there may be an oversupply of houses at one point.
Though the place is awesome, I think they are increasing the prices due to hype.

thats gd , let them continue to think that way ...
i dun wan all this ppl come to pollute jb ....

Can renew. The developer or the committee can submit request for renewal. The land authority permits. But these laws ate not explicit yet because I think very few leases have yet to come even close to <5 or 10 years balance. There is a formula to calculate the premium payable for renewal, and one component is the market value of the land at point of renewal then ... So this is a big unknown.

If developer/committee doesn't submit request for extension, then the land will naturally return back to the state

Dear Bro,

If Selangor then great...but so far, no news or updates for leasehold properties in Johor...

Selangor Leasehold Residential Land Renewable with RM1000 Only

30th December 2011

Owners of leasehold residential properties in Selangor have reason to rejoice — they will no longer have to worry about hefty land renewal premiums when their leases expire.

Residents of Selangor will be able to renew land leases under the newly introduced Private Residential Ownership Scheme at an affordable token premium of just RM1,000, instead of the current market rate, provided they remain on the property.

In view of rising land costs, the scheme will make premium payments much more affordable for owners of leasehold properties, holders of Temporary Occupation of Land (TOL) licences and those who have just converted the status of their land (from agricultural to residential).

Selangor Mentri Besar Tan Sri Khalid Ibrahim told The Edge Financial Daily in a recent exclusive interview that the philosophy behind the move is to ensure that the people of Selangor can realise the wealth of their assets.

“Let’s say, for example, people who have lived in Petaling Jaya for two generations and have a [99-year] lease. They are now left with another 30 years. The value of the land, which has a lease of 30 years is different from the value of the land which has a lease of 99 years. This is very straightforward.

“So why can’t you give it to the people? Because after all they are going to stay there. Why don’t you ask them to realise the value and the government will not lose out?

“Based on that concept, we allow you to renew your lease for RM1,000 instead of calculating [the premium] based on the market price. The premium is based on market price … a quarter of the value, and the RM1,000 renewal fee is just a fraction of that,” said Khalid.

However, if the owner decides to sell or transfer the property subsequently, he would have to pay up the full premium.

The current premium for lease renewal is calculated based on one-quarter of the land’s current market value, divided by 100 and multiplied by the number of years renewed.

In effect, for the renewal of a 99-year lease, the owner has to pay around a quarter of the property’s current value.

A 10,000 sq ft plot of land in Tropicana at RM250 psf, for instance, would be worth at least RM2.5 million, based on current market rates of RM250 to RM350 psf.

Based on the formula, the land renewal premium is a hefty RM618,750 at current market prices — compared with RM1,000 under the new scheme if the owner continues to live there.

With land prices escalating yearly, the scheme offers a cushion and assurance that the homeowner or the next generation will not not be kicked out of their homes due to a lack of funds for premium renewal.

The scheme exempts transfers due to inheritance from paying the full premium, while owners of 60-year-old leases will be able to convert their leases to 99 years.

For those who can afford to pay the full premium, a 30% discount will be given if it is settled within the next six months from the date of the policy announcement.

It is anticipated that the new policy will benefit 100,000 households in the state, with the numbers expected to rise as more developments are undertaken on leasehold land.

New areas being opened up in the state are increasingly leasehold — as opposed to freehold — as they are mostly state-alienated land.

“As the state is the biggest landowner, it is only natural that state-alienated land becomes a major source of new township development. Plantation land is the only other major source of large landbank for development which is freehold,” a property analyst told The Edge Financial Daily.

He cited Kota Damansara and Tropicana as examples of state-alienated land that have become prime leasehold developments in Petaling Jaya, and noted that most of Shah Alam is leasehold.

“For freehold township developments, large landbanks can only come in the form of plantations. That’s why developers are moving towards less prime areas such as Beranang, Semenyih and Rawang,” he said.

The analyst also expects leasehold and freehold prices. “It’s already happening … the stigma of leasehold properties is no longer there as there is a scarcity of new freehold projects. This move should further narrow the distinction,” he added.

“The next big project is the RRI [Rubber Research Institute of Malaysia] land in Sungei Buloh. Given that it is privatised government land, potential buyers will be watching to see if its freehold or leasehold.”

The issue of renewing land leases has plagued Selangor residents for the past few years, especially those who have property in prime but older parts of Petaling Jaya, such as Sections 1 to 5, whose leases are running out.

“What we are doing is giving wealth back to the people in a way that it is no loss to the state, but will instead give potential to the state. That is what ‘merakyatkan ekonomi’ [the people’s economy] is all about,” Khalid told The Edge Financial Daily.

The scheme came into force on June 1 this year with little fanfare, and is not well-known within the state or even among property developers.

It is also not without criticism from some quarters, while there were grouses from owners who did not know of its existence.

Indeed, several property developers as well as owners of leasehold properties contacted by The Edge Financial Daily last week said they were unaware of this scheme.

Khalid aims to organise workshops explaining the workings of the scheme.

“Very shortly we will organise a workshop on what to do in order to increase the lease. There are a lot of people who wanted to debate with us on the economics and political philosophy. We don’t mind the debate, provided you [have the same] knowledge as we do,” he said, adding that it took a couple of meetings with the state district officers to convince them that the scheme is workable.

VPC Alliance (KL) Sdn Bhd chartered surveyor and director James Wong said the move is good for homeowners, as they need to pay only a nominal sum to renew the lease whether for 99 or 60 years.

He said under the Selangor Land Rules, the additional premium would come up to quite a huge sum. He reckoned that owner of a bungalow of 10,000 sq ft would have to pay between RM150,000 and RM250,000 in premium to renew the lease.

However, Wong also said the move would hurt the state government’s coffers as collections by the land office contribute a large part of state revenue.

“Perhaps to be more fair and equitable, there should be an assessment means test for those whose income falls below a certain level. This would be a good gesture from the government.

“But for those who can afford it, they should be made to pay the actual sum as it is quite common to get a discount,” said Wong, adding that the policy is good for retirees and pensioners who want to continue to live in the one house they own as they would be short of savings in their
twilight years to pay a hefty renewal premium.

Source: The Edge Financial Daily

Read more http://www.investmalaysiaproperties...idential-land-renewable-with-rm1000-only.html

 

[Lord Aragorn]

Hi Aragorn,

You are right that the above is the law which governs non strata-titled land. But, just like many other laws, there can be exceptions for special requests.
I'm sure a big developer like Gamuda(HH) has applied for special permission to fence up and guard each individual precincts in HH, even though those precincts are not strata-titled. I'm also sure that their applications for such measures were already approved by the relevant authority.

One other interesting thing I noticed though is that Strata-Titled landed houses(Cluster Housing) in Singapore command a significantly lower price than Landed Houses with Individual Title.

Go to this link and do a search. Just select Postal District 16 and click 'Add' followed by 'Search'. You'll see a list of historical prices, look at 'Type of Area'(it's either Strata or Landed) and 'Unit Price psf'. You can see that in the same estate, PSF of landed can be more than S$1,000 while PSF for Strata are mostly S$5xx. From the difference in price, I guess when it comes to buying a landed property, buyers of today's market still prefer to have individual title instead of Strata, thus the higher demand which resulted in higher price.

Investor, re exceptions sought for HH, is it an assumption or do you know it for a fact?

Re strata vs land, you're comparing apples with oranges. Land type is based on land size psf while strata type is based on buildup size psf. Most cluster houses are built with multiple stories, so the buildup is much higher than the land size. When you divide the price with the size to get the psf, you can expect one to be much higher than the other. It says nothing about desirability.

 

[greddy88]

Actually what is so bad about merger with Msia, like that average Singaporeans got more space to move - from JB to Penang. Much better than being squeezed by PAP and foreign trash in tiny SG.

One good reason this will never ever happen.
Minister pay.

Would you wanna trade your million sing dollar for few hundred k ringgit? :*:

 

[Diaspora]

Wow...looking forward to much better and improved security for Nusajaya soon!!

UEM Land plans to launch RM5.5bil worth of properties

KUALA LUMPUR: UEM Land Holding Bhd, which plans to launch RM5.5 billion worth of properties, aims to record sales of RM3 billion this year.

Managing Director/Chief Executive Officer Datuk Wan Abdullah Wan Ibrahim said the properties were located in Johor, Kuala Lumpur Central Business District, Mont Kiara and Bangi.

UEM Land achieved sales of RM2 billion last year, he told reporters here today after the company inked a joint venture agreement with Medini Securities Services Sdn Bhd to enhance security features in Nusajaya.

Since the mid-90s, 11,000 units of residential properties were sold in Nusajaya by UEM Land and other developers.

"The company alone sold 3,500 units since 2006.

"We expect the demand structure to continue this year," Wan Abdullah said, adding that the take up rate stood at 85 per cent, currently.

On the joint-venture, he said the company has collaborated to form a full-fledged security service company with Medini Security to provide enhanced security for Nusajaya.

Eight million ringgit has been budgeted this year to implement this initiative as part of the Nusajaya Security Blueprint, he added.

"We are looking into areas of improvement such as the expansion of our CCTV coverage in the vicinity to further add value to the current security features," he said.

By 2015, the joint venture company is expected to have an estimated 160 auxiliary police officers who will be deployed in critical areas.

UEM Land, is the master developer of Nusajaya, the key driver of Iskandar Malaysia, Johor. - BERNAMA


Source: http://biz.thestar.com.my/news/story.asp?file=/2012/1/10/business/20120110160050&sec=business

 

[DREAMorACTION]

Great article bro dia. Thanks for sharing. The formula that I read was actually mentioned in the article too. Bravo.

Btw, Johor always have danga bay as a precedent