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Bingo! Ta ta speculators.
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New developments to share
- Thread starter wuqi256
- Start date
Bingo! Ta ta speculators.
Estate planners create a "trust company" to keep all the properties. This is is to escape from inheritance tax which is very high in some countries. However, in Malaysia, there's no inheritance duty (estate duty) as long as the owner leave a will.
The owners do not own the property. The company own the property and the owners have shares only.
However, if you sell your share, then you also cannot escape taxes. This trust company is good for keeping the properties within the family.
Another way of holding on to the properties is to have joint names (both husband and wife). If the husband die, the wife automatically take over the share (Civil Law act, I think) and thereby escaping from paying taxes.
Need to do more research on this.
Will the party be ending for Iskandar?
By V Sanjugtha
Friday, 25 Oct 2013, 12:01 AM
- See more at: http://www.focusmalaysia.my/ArticleDetail.aspx?ArticleId=1579#sthash.ZhvgqruU.dpuf
Everybody loves Iskandar Malaysia, and why wouldn’t they? It seems like a magical land where condominiums launched can be oversubscribed the day of launch with a waiting list of prospective buyers willing to pay a premium for the property.
Seven years since its inception, almost a midway point to its targeted completion period of 2025, commercial and residential property prices have shot through the roof, by as much as 200% in certain areas, predominantly stimulated by improved infrastructure and the completion of projects.
While plans on paper paint a rosy picture of a better tomorrow, sceptics are imploring investors to be cautious. The dramatic rise in property prices here is fuelled largely by strengthened bilateral ties between Malaysia and Singapore, notwithstanding the occasional spat; evidently, the Singaporean market is Iskandar’s krypton -- but will the warm relations continue?
Another precarious point in Iskandar relates to the perils of Malaysian politics, points out an industry source. It was an open secret that the government’s investments in Iskandar intensified following the loss of Selangor to Pakatan Rakyat in the 2008 general election, as the ruling party sought a new economic hub.
Had Johor also fallen to the opposition in the 2013 general election, Iskandar’s fate may well have changed course. As such, investors are cautioned to keep an ear out for the political direction of the country.
In Iskandar, CBRE Research’s data show a sharp rise in the prices of double-storey terrace houses. Gamuda Bhd’s Horizon Hills, located near the Customs, Immigration and Quarantine Complex (CIQ), launched in 2007 at around RM270,000, rose steadily to about RM360,000 in 2010. Thereafter, prices took a sharp rise to the RM460,000 level in 2011 and the RM650,000 level in 2012. By mid-year, traded prices had exceeded RM650,000.
Tan Ka Leong, director at CH Williams Talhar & Wong’s Johor branch, believes not all types of property are seeing unhealthy price level -- only those of stratified apartment units, especially on the waterfront and within walking distance of the CIQ complex.
“Part of the reason property prices are rising substantially to levels of Greater KL is Iskandar Malaysia boasts two pull factors absent in Greater KL – proximity to a rich neighbour and the lifestyle lure of waterfront living,” Ka Leong says.
“Properties are being snapped up hours into launch in Iskandar Malaysia and at such exorbitant prices. I once asked a developer if he did not fear poor response when pricing his property so high but his reply was that his target market was Singaporean buyers, not locals,” says Tan, who has been involved in real estate research and has written numerous articles about the housing industry.
While acknowledging that any savvy investor from Singapore, constrained by strict property policies, would take advantage of the cross-border price arbitrage to invest in a property in Iskandar Malaysia, he stresses the importance of making calculated decisions, as the economic corridor’s full potential is still years away.
“Anything can happen in the next few years. If plans do not materialise due to unforeseen circumstances, what [will] happen to their investments?”
- See more at: http://www.focusmalaysia.my/ArticleDetail.aspx?ArticleId=1579#sthash.ZhvgqruU.dpuf
By V Sanjugtha
Friday, 25 Oct 2013, 12:01 AM
- See more at: http://www.focusmalaysia.my/ArticleDetail.aspx?ArticleId=1579#sthash.ZhvgqruU.dpuf
Everybody loves Iskandar Malaysia, and why wouldn’t they? It seems like a magical land where condominiums launched can be oversubscribed the day of launch with a waiting list of prospective buyers willing to pay a premium for the property.
Seven years since its inception, almost a midway point to its targeted completion period of 2025, commercial and residential property prices have shot through the roof, by as much as 200% in certain areas, predominantly stimulated by improved infrastructure and the completion of projects.
While plans on paper paint a rosy picture of a better tomorrow, sceptics are imploring investors to be cautious. The dramatic rise in property prices here is fuelled largely by strengthened bilateral ties between Malaysia and Singapore, notwithstanding the occasional spat; evidently, the Singaporean market is Iskandar’s krypton -- but will the warm relations continue?
Another precarious point in Iskandar relates to the perils of Malaysian politics, points out an industry source. It was an open secret that the government’s investments in Iskandar intensified following the loss of Selangor to Pakatan Rakyat in the 2008 general election, as the ruling party sought a new economic hub.
Had Johor also fallen to the opposition in the 2013 general election, Iskandar’s fate may well have changed course. As such, investors are cautioned to keep an ear out for the political direction of the country.
In Iskandar, CBRE Research’s data show a sharp rise in the prices of double-storey terrace houses. Gamuda Bhd’s Horizon Hills, located near the Customs, Immigration and Quarantine Complex (CIQ), launched in 2007 at around RM270,000, rose steadily to about RM360,000 in 2010. Thereafter, prices took a sharp rise to the RM460,000 level in 2011 and the RM650,000 level in 2012. By mid-year, traded prices had exceeded RM650,000.
Tan Ka Leong, director at CH Williams Talhar & Wong’s Johor branch, believes not all types of property are seeing unhealthy price level -- only those of stratified apartment units, especially on the waterfront and within walking distance of the CIQ complex.
“Part of the reason property prices are rising substantially to levels of Greater KL is Iskandar Malaysia boasts two pull factors absent in Greater KL – proximity to a rich neighbour and the lifestyle lure of waterfront living,” Ka Leong says.
“Properties are being snapped up hours into launch in Iskandar Malaysia and at such exorbitant prices. I once asked a developer if he did not fear poor response when pricing his property so high but his reply was that his target market was Singaporean buyers, not locals,” says Tan, who has been involved in real estate research and has written numerous articles about the housing industry.
While acknowledging that any savvy investor from Singapore, constrained by strict property policies, would take advantage of the cross-border price arbitrage to invest in a property in Iskandar Malaysia, he stresses the importance of making calculated decisions, as the economic corridor’s full potential is still years away.
“Anything can happen in the next few years. If plans do not materialise due to unforeseen circumstances, what [will] happen to their investments?”
- See more at: http://www.focusmalaysia.my/ArticleDetail.aspx?ArticleId=1579#sthash.ZhvgqruU.dpuf
Johor affordable homes not for speculators
Oct 29, 2013 - PropertyGuru.com.my
Johor's affordable housing scheme are intended for eligible and genuine first-time house buyers and not those who already owns residential properties, according to Mentri Besar Datuk Seri Mohamed Khaled Nordin.
“The 28,000 affordable houses to be built, including 20,000 in Iskandar Malaysia within the next five years, will go to the right people.”
He also revealed that the registration for the affordable housing units will start next month, with the allocation process to be done in a transparent manner.
Meanwhile, developers in Johor are against the move to increase the price limit for foreigners to acquire property to RM1 million from RM500,000, reported Star Property.
“Iskandar is already gaining good momentum since its inception seven years ago but this new pricing may have a negative impact on the economic zone,” said Samuel Tan Wee Cheng, Director of KGV International Property Consultants (M) Sdn Bhd.
In concurring, Country View Bhd senior marketing manager Andrew Tan noted that Johor is not yet ready to raise the price cap for foreigners since house prices in the state are still low, unlike in Penang and the Klang Valley.
“There should not be a blanket ruling. Let the respective state government decide whether they want to increase it or not,” he added.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
Oct 29, 2013 - PropertyGuru.com.my
Johor's affordable housing scheme are intended for eligible and genuine first-time house buyers and not those who already owns residential properties, according to Mentri Besar Datuk Seri Mohamed Khaled Nordin.
“The 28,000 affordable houses to be built, including 20,000 in Iskandar Malaysia within the next five years, will go to the right people.”
He also revealed that the registration for the affordable housing units will start next month, with the allocation process to be done in a transparent manner.
Meanwhile, developers in Johor are against the move to increase the price limit for foreigners to acquire property to RM1 million from RM500,000, reported Star Property.
“Iskandar is already gaining good momentum since its inception seven years ago but this new pricing may have a negative impact on the economic zone,” said Samuel Tan Wee Cheng, Director of KGV International Property Consultants (M) Sdn Bhd.
In concurring, Country View Bhd senior marketing manager Andrew Tan noted that Johor is not yet ready to raise the price cap for foreigners since house prices in the state are still low, unlike in Penang and the Klang Valley.
“There should not be a blanket ruling. Let the respective state government decide whether they want to increase it or not,” he added.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
Different interpretation by different lawyers. Not unexpected. This is what I found on the net.
http://www.johorebar.org.my/index.p...reign-interests&catid=4:newsaevents&Itemid=10
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Thank you for sharing the link.
May I copy and paste here for easy reference, and further discussion:
Note: Pls consult yr lawyer for confirmation. Not sure if there is any changes after the latest budget announcement.
2010 JOHOR PTG Guidelines for acquisition of real property by foreign interests
2010 JOHOR PTG Guidelines
for acquisition of real property by foreign interests
(Dasar baru garis panduan perolehan hartanh oleh kepentingan asing dalam Negeri Johor. – Pekiling PTG Johor Bil.01/2010. )
Yang Pei Keng 23 April 2010
2010 Johor PTG Guidelines - effective from 1 July 2010
Against this backdrop, the Johore Government held a meeting on 17.2.2010 and decided to adopt the 2010 JOHOR PTG Guidelines for acquisition of real property by foreign interests [Dasar Baru Garis Panduan Perolehan Hartanah oleh Foreign interests dalam Negeri Johor] ( PTG Guidelines 2010) These Guidelines are not in force yet, and shall only come into force on 1 July 2010.
Residential buildings – RM500,000 and above
Foreigners may buy new residential buildings (but see exceptions below) valued at 500,000 and above. They may now also buy residential buildings from individual sellers (commonly described as sub-sales). They no longer have to buy from developers: para 2.2.d.
This is something new, because under the previous 2009 Guidelines, a foreigner could not buy a residential building from an individual or company. He must buy it from the developer. A sale and purchase between individuals (or between an individual and a company) has been described by some as a “sub-sale”. This is merely to distinguish it from the developer’s sale and purchase.
Transfer to foreign next of kin for love and affection – allowed
Now, any transfer of any real property to foreign citizens (for love and affection) is allowed, but this only applies to any transfer among next of kin only.
[‘Next of kin’ (keluarga terdekat) refers to “ individuals having marital ties (e.g. husband and wife) or blood relatives (grandparents, parents,siblings and children; and the term “children” includes adopted children under the Adoption Act 1952, as well as adopted children certified by the National Registration Department i.e. under the Registration of Adoptions Act 1952.)]
The definition of the “next of kin” under the 2010 PTG Guidelines is limited to grandparents, parents, brothers and sisters and children, and also adopted children whether by way of the Adoption Act or the Registration of Adoption Act.
This is something new. There was no such provision under the previous Guidelines, though in practice, it seems that the land registry and the land office have allowed such transfer to be done. No mention is made of the approval fee.
Transfer to next of kin – approval fee RM10,000: Annexure 2, para 2.E
Foreigners may apply for consent to transfer for love and affection among their next of kin (keluarga terdekat). They may transfer any type of real property and of any value, but they have to pay consent fee and approval fee of RM10,000 for each title.
May I copy and paste here for easy reference, and further discussion:
Note: Pls consult yr lawyer for confirmation. Not sure if there is any changes after the latest budget announcement.
2010 JOHOR PTG Guidelines for acquisition of real property by foreign interests
2010 JOHOR PTG Guidelines
for acquisition of real property by foreign interests
(Dasar baru garis panduan perolehan hartanh oleh kepentingan asing dalam Negeri Johor. – Pekiling PTG Johor Bil.01/2010. )
Yang Pei Keng 23 April 2010
2010 Johor PTG Guidelines - effective from 1 July 2010
Against this backdrop, the Johore Government held a meeting on 17.2.2010 and decided to adopt the 2010 JOHOR PTG Guidelines for acquisition of real property by foreign interests [Dasar Baru Garis Panduan Perolehan Hartanah oleh Foreign interests dalam Negeri Johor] ( PTG Guidelines 2010) These Guidelines are not in force yet, and shall only come into force on 1 July 2010.
Residential buildings – RM500,000 and above
Foreigners may buy new residential buildings (but see exceptions below) valued at 500,000 and above. They may now also buy residential buildings from individual sellers (commonly described as sub-sales). They no longer have to buy from developers: para 2.2.d.
This is something new, because under the previous 2009 Guidelines, a foreigner could not buy a residential building from an individual or company. He must buy it from the developer. A sale and purchase between individuals (or between an individual and a company) has been described by some as a “sub-sale”. This is merely to distinguish it from the developer’s sale and purchase.
Transfer to foreign next of kin for love and affection – allowed
Now, any transfer of any real property to foreign citizens (for love and affection) is allowed, but this only applies to any transfer among next of kin only.
[‘Next of kin’ (keluarga terdekat) refers to “ individuals having marital ties (e.g. husband and wife) or blood relatives (grandparents, parents,siblings and children; and the term “children” includes adopted children under the Adoption Act 1952, as well as adopted children certified by the National Registration Department i.e. under the Registration of Adoptions Act 1952.)]
The definition of the “next of kin” under the 2010 PTG Guidelines is limited to grandparents, parents, brothers and sisters and children, and also adopted children whether by way of the Adoption Act or the Registration of Adoption Act.
This is something new. There was no such provision under the previous Guidelines, though in practice, it seems that the land registry and the land office have allowed such transfer to be done. No mention is made of the approval fee.
Transfer to next of kin – approval fee RM10,000: Annexure 2, para 2.E
Foreigners may apply for consent to transfer for love and affection among their next of kin (keluarga terdekat). They may transfer any type of real property and of any value, but they have to pay consent fee and approval fee of RM10,000 for each title.
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A contrarian view to RHB Research's on Medini.
http://www.propertyguru.com.sg/blog/tag/medini-the-new-foreign-investors-darling
Medini – the new foreign investors’ darling
By Khalil Adis Oct 29, 2013
Free trade zone poised to be investors’ favourite destination after Budget 2014 is implemented.
With the new ruling on foreign property ownership announced last week by Malaysian Prime Minister Najib Razak, Medini has suddenly become the new foreign investors’ darling.
The pro-Malaysian budget that comes into effect from 1 January 2014 is a significant shift under the Najib administration that requires foreigners to purchase properties from RM1 million (S$394,340) onwards.
Taking a cue from policies in opposition-held states such as those by the Democratic Action Party (DAP) in Penang, the increase in minimum sum is to ensure property prices remain affordable for Malaysians.
Previously, foreigners can only buy properties above RM500,000 (S$197,230) except in Penang where the price caps are RM1 million and RM2 million (S$788,160) for condominiums and landed properties respectively.
With Medini being the only place in Malaysia where there is no such price caps and quota for bumiputras, this has made the special economic zone an overnight goldmine.
Goldrush in Medini
Located in Nusajaya, Johor, Medini is a free trade zone that the federal government has lifted price restrictions and bumiputra quotas in order to spur growth within Iskandar Malaysia.
This Grade ‘A’ site is home to two government-to-government joint-venture projects sealed in 2010 in Singapore as part of the historic land swop deal – Afiniti Medini and Avira Wellness Centre both by Khazanah Nasional and Temasek Holdings.
Divided into three zones – lifestyle, business and living, Medini spans 908ha of prime land.
In the lifestyle zone, where LEGOLAND Malaysia is located, popular condominium projects that have been well-received include Afiniti Medini by Khazanah Nasional and Temasek Holdings, The Meridin by Mah Sing Group and Paradiso Nuova by Zhuoyuan Iskandar.
The lifestyle zone is also where the Rapid Transit System (RTS) network headquarter station will be located.
By 2018, it will form a connection from Singapore’s Mass Rapid Transit (MRT) system via the Tuas West Extension.
Different schemes for different folks
Medini offers a glimmer of hope for foreign investors who want to live, work and play in Iskandar Malaysia.
If you are looking to just buy a property, then Medini will offer you an exemption from the RM1 million price cap.
You can still get round the hefty Real Property Gains Tax (RPGT) by holding on to your property beyond the five-year period.
This means taking a long-term investment horizon by not flipping your property during the construction period or in the resale market until the five-year period is over.
You can calculate when the five-year period will expire by looking at the date when your Sales & Purchase Agreement is signed.
However, do note that a five percent tax will still apply for foreigners and companies after the sixth and subsequent years.
For foreign knowledge workers or returning Malaysians looking to live, work and play in Iskandar Malaysia, you can apply under the '15 percent tax rate scheme for knowledge workers in Iskandar Malaysia'.
First announced by Prime Minister Najib Razak in his Budget 2010 speech, those applying under this scheme need to be working in the nine promoted sectors with plans to reside and live in Iskandar Malaysia.
The nine promoted sectors that Iskandar Regional Development Authority (IRDA) has outlined include tourism, financial advisory & consulting, education, healthcare, creative industries, electrical & electronics, logistics, petrochemical & oleochemical and food & agro processing.
You can apply via your employer so that you can enjoy a preferential flat rate of 15 percent tax on your employment income.
Once approval is obtained, you are also eligible to apply and opt to purchase a duty free car for your own personal use.
Putrajaya has also made exemptions on RPGT for foreign knowledge workers or returning Malaysians.
Outlined by IRDA as the 'Medini Incentive Support Package', foreign knowledge workers are exempted from RPGT when they dispose their land and properties in Medini until 2015 and 2020 respectively.
To qualify for the above scheme, you must have a Bachelor’s or Master’s degree with at least ten years of professional work experience in a qualifying activity or have a PhD. with at least five years of professional work experience in a qualifying activity.
http://www.propertyguru.com.sg/blog/tag/medini-the-new-foreign-investors-darling
Medini – the new foreign investors’ darling
By Khalil Adis Oct 29, 2013
Free trade zone poised to be investors’ favourite destination after Budget 2014 is implemented.
With the new ruling on foreign property ownership announced last week by Malaysian Prime Minister Najib Razak, Medini has suddenly become the new foreign investors’ darling.
The pro-Malaysian budget that comes into effect from 1 January 2014 is a significant shift under the Najib administration that requires foreigners to purchase properties from RM1 million (S$394,340) onwards.
Taking a cue from policies in opposition-held states such as those by the Democratic Action Party (DAP) in Penang, the increase in minimum sum is to ensure property prices remain affordable for Malaysians.
Previously, foreigners can only buy properties above RM500,000 (S$197,230) except in Penang where the price caps are RM1 million and RM2 million (S$788,160) for condominiums and landed properties respectively.
With Medini being the only place in Malaysia where there is no such price caps and quota for bumiputras, this has made the special economic zone an overnight goldmine.
Goldrush in Medini
Located in Nusajaya, Johor, Medini is a free trade zone that the federal government has lifted price restrictions and bumiputra quotas in order to spur growth within Iskandar Malaysia.
This Grade ‘A’ site is home to two government-to-government joint-venture projects sealed in 2010 in Singapore as part of the historic land swop deal – Afiniti Medini and Avira Wellness Centre both by Khazanah Nasional and Temasek Holdings.
Divided into three zones – lifestyle, business and living, Medini spans 908ha of prime land.
In the lifestyle zone, where LEGOLAND Malaysia is located, popular condominium projects that have been well-received include Afiniti Medini by Khazanah Nasional and Temasek Holdings, The Meridin by Mah Sing Group and Paradiso Nuova by Zhuoyuan Iskandar.
The lifestyle zone is also where the Rapid Transit System (RTS) network headquarter station will be located.
By 2018, it will form a connection from Singapore’s Mass Rapid Transit (MRT) system via the Tuas West Extension.
Different schemes for different folks
Medini offers a glimmer of hope for foreign investors who want to live, work and play in Iskandar Malaysia.
If you are looking to just buy a property, then Medini will offer you an exemption from the RM1 million price cap.
You can still get round the hefty Real Property Gains Tax (RPGT) by holding on to your property beyond the five-year period.
This means taking a long-term investment horizon by not flipping your property during the construction period or in the resale market until the five-year period is over.
You can calculate when the five-year period will expire by looking at the date when your Sales & Purchase Agreement is signed.
However, do note that a five percent tax will still apply for foreigners and companies after the sixth and subsequent years.
For foreign knowledge workers or returning Malaysians looking to live, work and play in Iskandar Malaysia, you can apply under the '15 percent tax rate scheme for knowledge workers in Iskandar Malaysia'.
First announced by Prime Minister Najib Razak in his Budget 2010 speech, those applying under this scheme need to be working in the nine promoted sectors with plans to reside and live in Iskandar Malaysia.
The nine promoted sectors that Iskandar Regional Development Authority (IRDA) has outlined include tourism, financial advisory & consulting, education, healthcare, creative industries, electrical & electronics, logistics, petrochemical & oleochemical and food & agro processing.
You can apply via your employer so that you can enjoy a preferential flat rate of 15 percent tax on your employment income.
Once approval is obtained, you are also eligible to apply and opt to purchase a duty free car for your own personal use.
Putrajaya has also made exemptions on RPGT for foreign knowledge workers or returning Malaysians.
Outlined by IRDA as the 'Medini Incentive Support Package', foreign knowledge workers are exempted from RPGT when they dispose their land and properties in Medini until 2015 and 2020 respectively.
To qualify for the above scheme, you must have a Bachelor’s or Master’s degree with at least ten years of professional work experience in a qualifying activity or have a PhD. with at least five years of professional work experience in a qualifying activity.
Are they sure about the mrt stn from tuas into nusajaya?
Last edited:
There is a possibility but 2018 ...naw
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Khalil (from Ascendant Assets) is known to be very pro Iskandar. He has strong links to a lot of IRDA and IIB officials. He is also very well connected to some big shots in the bigger banks and developers. When I attended his seminar, he has shared that aside from the well-known Woodlands to Tg Puteri RTS link at the Causeway, there has been a strong inclination from his sources for the RTS to also be connected from Tuas to Nusajaya.
I guess we all know that whatever the Malaysian says must be taken with a pinch of salt. Well, the MRT in Johor has been canned. It is likely this 2nd RTS link will be too.
really? insider source or official? din hear anything lei.
It cannot be canned unilaterally by MY. SG has not officially said anything. Likely to be in e midst of discussions.
zzzwilliam2003
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does anyone know if the johor state consent processing fee will still be raised to 4-5% of the purchase price as proposed previously?
it seems the cooling measures announced last friday are already stringent enough.
it seems the cooling measures announced last friday are already stringent enough.
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Spore ABSD and SSD are applied only on properties that are bought on and after the implementation date i.e properties that are bought earlier than the implementation date are not affected by SSD when selling. So no impact on prior purchases. As for new purchases, investors have a choice before buying whether to proceed base on the ABSD/SSD rate and holding duration.
Msia RPGT and Rm1m for foreigner rule are applied on all properties whether bought before or after the implementation date. There is impact on prior purchases and investors who have bought earlier have no choice but to accept.
Spore method is thus better for investors who have a choice before buying whether to proceed and after buying they have the peace of mind that prior purchases are not affected.
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Considering the market situation in the last few years that Malaysia high end properties like EL, HH etc have gained 100% (or perhaps more), the profit used for RPGT computation in the comparison is too conservative. The Rm1.2m selling price would mean a profit of Rm600k and this will alter the numbers and comparison greatly with RPGT of Rm180k flat for five years.
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