New developments to share

[Funniman]

Re: The Epic

Question:

If it is freehold, no need to ask for state consent to change owner.
But if leasehold, kena approval to sell.

So, this new rule, affect freehold or leasehold?

 

[shctaw]

Re: The Epic

The plan kick the local between their legs.

Foreigners can sell to anyone. (both locals and foreigners)

Local cannot sell to foreigners (they put it the other way round by saying " Froeigners cannot buy from locals")

Govt does screwed they own citizens, it is proven again and again.

 

[Funniman]

Re: The Epic

Excepting those foreigners (like some SGreans ) who die-die must only buy in Iskandar, other foreign buyers will consider switching to KL etc .

Even myself, lari to other country liao.

 

[Frodo]

Re: The Epic

best lah. abdulah pandi. 6-7 years IRDA try to hype up iskandar, this guy pandi go kill off the market. well done!

My view is this rule not really affecting those who buy one property to stay, but may hurt those who "collect" properties for investment i.e rent or roll.

 

[malpaso]

Re: The Epic

Also means that foreign buyers are severely limited in their choices in the secondary market. The local-foreigner ratio for any project will be more or less permanently fixed when primary sales are completed. If most of the choice units in a project are in local hands, then got no choice but settle for less desirable units.

or more likely certain areas will be totally shun by locals, esp the no of people who get burnt. they will all return to KL and penang. so only the foreigner quota taken up . so taman only 20% occupied? in this case, developers will not launch any more landed. whole of nusajaya west of Nusa idaman will be singapore condo area .
strange turn of events!

 

[Frodo]

Re: The Epic

Foreigners can sell to anyone. (both locals and foreigners)

Local cannot sell to foreigners (they put it the other way round by saying " Froeigners cannot buy from locals")

Maybe MY govt think that while foreigners cannot buy from local, locals can sell to foreigners?

As they say, it's boleh land!

 

[malpaso]

Re: The Epic

My view is this rule not really affecting those who buy one property to stay, but may hurt those who "collect" properties for investment i.e rent or roll.

no lah. nobody likes their sale to be restricted in any way. even if buy for own stay, also don't like the market to crash right?

and i also very pissed off because of one reason which i cannot share here openly.

 

[malpaso]

Re: The Epic

Maybe MY govt think that while foreigners cannot buy from local, locals can sell to foreigners?

As they say, it's boleh land!

you think their cronies who are speculating cannot sell to foreigner?? haha.

 

[Funniman]

Re: The Epic

no lah. nobody likes their sale to be restricted in any way. even if buy for own stay, also don't like the market to crash right?

and i also very pissed off because of one reason which i cannot share here openly.

Spit it out la...but beautify it a bit.

 

[jasonjst]

Re: The Epic

Secondary market will be affected, say for a RM 1 m property.

ABSD: RM 40K (at 4%)
Stamp duty & legal fees: RM 32K (RM 24k stamp duty + 8k legal fees)
Loan legal fees & stamp duty: RM 11K
State consent fees: RM 10K

Total cash payable on stamp duties, legal fees & state consent = RM 93K

20% cash upfront, assuming 80% loan = RM 200K

Total cash commitment, excluding reno = RM 293K

You forget sale commission 1% , another 10,000/=

 

[Frodo]

Re: The Epic

no lah. nobody likes their sale to be restricted in any way. even if buy for own stay, also don't like the market to crash right?

and i also very pissed off because of one reason which i cannot share here openly.

True one will not like it if market price drop, but then even if market crash he will also take it in his stride because he already intend to stay in the property he bought. Anyway, this turn of events can later change. Properties will flip when policies flip and when MY govt flip, or worst, flop!:p

 

[shctaw]

Re: The Epic

It will create a two tier market in Johor Property market.

Locals owned property - Similar to HDB; where foreigners cannot buy; foreigners will avoid totally.

Foreigners owned property - A premium to this type of segment.

They are not screwing foreigners at all. The are just dividing the market.

Maybe MY govt think that while foreigners cannot buy from local, locals can sell to foreigners?

As they say, it's boleh land!

 

[Frodo]

Re: The Epic

It will create a two tier market in Johor Property market.

Locals owned property - Similar to HDB; where foreigners cannot buy; foreigners will avoid totally.

Foreigners owned property - A premium to this type of segment.

They are not screwing foreigners at all. The are just dividing the market.

Then it means when you buy for investment, buy with selling to foreigners in mind. And buy the most desirable/coveted unit or landed.

 

[Funniman]

Re: The Epic

I bet when Najib comes back from Bali, this policy would change again. He has been so cosy these days with the Chinese Premier that he will make sure that he is not going to antagonise Country Gardens.

It will create a two tier market in Johor Property market.

Locals owned property - Similar to HDB; where foreigners cannot buy; foreigners will avoid totally.

Foreigners owned property - A premium to this type of segment.

They are not screwing foreigners at all. The are just dividing the market.

 

[kezgtree]

Re: The Epic

pm me... Im interested to knw, coz I have been following and want to know others opinion too..thanks

 

[FHBH12]

Re: The Epic

I bet when Najib comes back from Bali, this policy would change again. He has been so cosy these days with the Chinese Premier that he will make sure that he is not going to antagonise Country Gardens.

I think a lot of politicians are trying to score points with locals by shouting policies that hurt foreigners and lower cost of houses. Then reverse to say it won't be implemented. On the other hand, I do agree that there is a need to rein in property prices for entry level houses. Everyone needs a decent roof over their head.

 

[sunriver]

Re: The Epic

They are not screwing foreigners at all. The are just dividing the market.

Like to hear from foreign buyers here who already bought... pls advice whether you feel you've been SCREWED. Or not.

 

[shctaw]

Re: The Epic

Rich and poor gap is a problem every countries encounter.

Last time; condos and landed properties are so cheap JB; yet they do not want to buy. Now the price will fly north and will be worst and worst.

Now there are still plenty of cheap landed properties in Johor; I something wonder why the locals are not buying? Very confusing how the locals think..... one word..... stupid.

I think a lot of politicians are trying to score points with locals by shouting policies that hurt foreigners and lower cost of houses. Then reverse to say it won't be implemented. On the other hand, I do agree that there is a need to rein in property prices for entry level houses. Everyone needs a decent roof over their head.

 

[jasonjst]

Re: The Epic

Like to hear from foreign buyers here who already bought... pls advice whether you feel you've been SCREWED. Or not.

Nothing suprise wat , when we buy we already know is for long term stay , not fliping mah .

 

[Funniman]

Re: The Epic

I think a lot of politicians are trying to score points with locals by shouting policies that hurt foreigners and lower cost of houses. Then reverse to say it won't be implemented. On the other hand, I do agree that there is a need to rein in property prices for entry level houses. Everyone needs a decent roof over their head.

UMNO elections on 19/10/13. So any shouting by these politicians to be taken with a pinch of salt.
But any announcements at the Budget 2014 on 24/10 must be taken seriously.