$1 mil RM will kill off a lot of condo projects. It will be quite crazy to wipe out this big source of revenue for a state. Might as well just increase state consent to $20-30k RM. Good for e government n good for e construction industry.
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New developments to share
- Thread starter wuqi256
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For a new comer & foreigner, better to buy from Developer instead of Sub-Sales (2nd hand). U still can buy from Developer a RM500K property but must sign the Sales & Purchase Agreement (S&P) by this year 2013. I think the loan need to be approve & sign as well.
It is better that u check with the developer on these issue cos they have all the legal / lawyer backing for these issue.
good luck in oyur house hunting
Ya lor , should have one limit for condo at 500K and one limit for landed at 1M , will solve the problem.
I have this feeling that the $1 mil RM won't be implemented, or at most what you have suggested. A lot of states haven't seem to move yet or announce anything. They must be estimating the losses in revenue and rise in unemployment should the real estate and construction industry collapse.
Very few now. Perhaps Horizon Hill new terrace near $1 mil RM can still get. Subsale can get but you might miss the deadline (should the $1mil RM be implemented) if the state consent or bank loan plays you out. I recommend you look at the Tebrau side if you don't want to miss the boat.
Many thanks for ur advises.
Excepts from MB's budget speech today, it's down at item no 68.
https://www.facebook.com/MohamedKhaledNordin?hc_location=stream
68. Kerajaan Negeri juga akan menyemak semula dasar pemilikan hartanah oleh kepentingan asing dengan menaikkan harga minimum hartanah yang boleh dimiliki dari RM500 ribu kepada RM1 juta seunit selaras dengan pembentangan Bajet Persekutuan 2014. Selain itu, kadar kelulusan bagi setiap perolehan oleh kepentingan asing akan dinaikkan dari RM10 ribu bagi setiap hakmilik kepada kadar 2 peratus daripada harga jualan yang dinyatakan dalam Perjanjian Jualbeli. Kedua-dua perkara tersebut akan berkuatkuasa pada 1 Mei 2014. Selain daripada itu, bagi menjaga kepentingan pemilikan hartanah oleh Bumiputera, bagi setiap pelepasan kuota Bumiputera yang telah diluluskan, Kerajaan Negeri telah menetapkan caj 7.5 peratus daripada 15 peratus diskaun seunit dibayar oleh pemaju daripada perbezaan harga jualan yang dinyatakan dalam Perjanjian Jualbeli antara kuota Bumiputera dan bukan Bumiputera. Kesemua langkah di atas diharap dapat mengekang aktiviti spekulasi yang berlaku di pasaran di samping menjaga kepentingan rakyat negeri Johor.
https://www.facebook.com/MohamedKhaledNordin?hc_location=stream
68. Kerajaan Negeri juga akan menyemak semula dasar pemilikan hartanah oleh kepentingan asing dengan menaikkan harga minimum hartanah yang boleh dimiliki dari RM500 ribu kepada RM1 juta seunit selaras dengan pembentangan Bajet Persekutuan 2014. Selain itu, kadar kelulusan bagi setiap perolehan oleh kepentingan asing akan dinaikkan dari RM10 ribu bagi setiap hakmilik kepada kadar 2 peratus daripada harga jualan yang dinyatakan dalam Perjanjian Jualbeli. Kedua-dua perkara tersebut akan berkuatkuasa pada 1 Mei 2014. Selain daripada itu, bagi menjaga kepentingan pemilikan hartanah oleh Bumiputera, bagi setiap pelepasan kuota Bumiputera yang telah diluluskan, Kerajaan Negeri telah menetapkan caj 7.5 peratus daripada 15 peratus diskaun seunit dibayar oleh pemaju daripada perbezaan harga jualan yang dinyatakan dalam Perjanjian Jualbeli antara kuota Bumiputera dan bukan Bumiputera. Kesemua langkah di atas diharap dapat mengekang aktiviti spekulasi yang berlaku di pasaran di samping menjaga kepentingan rakyat negeri Johor.
depend on what your purpose is. if buy for own stay, don't intend (don't care) who the property goes to after one passes on (maybe kids are rich etc), Or if buy to rent out , then leasehold is ok. reason is leasehold is cheaper. for eg can get a semi-dee leasehold for 1M in taman ponderosa, leasehold. http://www.iproperty.com.my/propertylisting/2430662/ponderosa-green-semi-detached-house-forsale
Hmm. Any kind soul???
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The State Government will also revise the policy of property ownership by foreign interests to raise the minimum price of the property which can be owned from 500 thousand to RM1 million per unit to conform to the Federal Budget 2014. In addition, the approval rate for each acquisition by foreign interests will be increased from RM10 thousand for each title to 2 percent of the sales price stated in the Sale and Purchase Agreement . Both of these things will take effect on May 1, 2014 . In addition, to protect the interests of property ownership by Bumiputera , the Bumiputera quota for each release that has been approved , the State Government has set a charge of 7.5 per cent from 15 per cent discount per unit paid by the developer of the sales price difference specified in the Sale and Purchase Agreement between Bumiputera and non- quota natives. All the above measures are expected to curb speculative activities that occur in the market and protect the interests of the people of the state of Johor .
"68. The state government will also re-evalute again the basis for foreign property ownership by increasing the minimum price of properties that can be owned (by foreigners) from 500,000 to RM 1 M, inline with the proposed federal budget 2014. Besides that, the approval rate for each foreign acuisition will beincreased from RM10,000 for each ownership to a rate of 2% of the purchase price, as stated in the SPA. Both items as mentioned will be enforced from 1st may 2014.
Besides that, in order to protect the property ownership rights of the Bumiputra, for every release of bumiputra quota that is approved, the state government will fix a charge of 7.5% of the 15% discount per unit paid by the developer from the difference between the purchase price as stated in the SPA between the bumi and non bumi quotas. All these steps above is hoped to control spculative activities that is happening in the market as well as to take care of the needs of the citizens of Johore".
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"175.. blah blah.
Demikianlah pembentangan Bajet Negeri Johor 2014. Saya mohon mencadangkan."
Closing words: "Thus (mr speaker) (i have) tabled the Johor state budget 2014. I request to propose (the budget)."
so it is a tabling of the state budget, and is a proposal. but most likely will go through. a lot of jb locals are for strict anti foreigner measures esp hot potato like housing.
(edited... delete) some points: 220m for beautification of sg segget and surrounding , and improvement of bus services.
a whole paragraph for 'attracting more institutes of higher learning' to come to iskandar, no specific budget allocation.?
support to upgrade pasir gudang hiway to 6 lane
focus on RAPID in pengerang
20M to develop mersing
broadband upgrading - to TM.
double tracking rail gemas to jb
no mention of rts,hsr again.
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Humm... developer sale for Ponderosa green was RM 550K 2.5 years ago....Built-up quite small though for a semi-d..... So 1 May 2014 is D-day for many Singaporeans to own cheap freehold landed in JB liao.......
yah it's still quite ex. but the freehold ones next to it are asking 1.5M above!
those who want to buy cheaper in m'sia can go to melaka? state there seems to only want to icnrease the price to 500k.
anyway. 1M min, 30% RPGT, state consent 2% somemore. singaporean buyers of the bread & butter houses will not buy anymore.
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No lah I dont hate atas people lah. But maybe atas people hate me ? Just that some atas people talk through their nose lor. One example , everybody got cars. We have two , I got one ,my wife got one...... that cause him to lost an election.
BTW I am the happiest person living inJB now , relatives got envious, and wanted me to show them around ISKANDAR. Out of courtesy , I offer them to visit my house to show them what is real living in ISKANDAR mah. He prata and say son driving sport car cannot go JB . Off cause , I got piss off wat.
Glad to know that you're the happiest person living in JB, I'll be happy to be the 2nd happiest in future
I suppose new terraces/clusters under $1 mil RM will be wiped clean. There are still many Singaporeans out there hoping to own a landed property in their life-time.
Further slowdown seen in Malaysia property market
Stricter measures from 2014 to hit KL city centre, Nusajaya harder: survey
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED NOVEMBER 08, 2013
AFTER a noticeable decline in home transactions this year, Malaysia's property market is expected to slow down further when more stringent guidelines take effect next year, with hot spots such as the Kuala Lumpur city centre and Iskandar's Nusajaya being hit harder.
These were some of the findings by Rahim & Co Chartered Surveyors on the anticipated impact a higher rate of real property gains tax (30 per cent) and the banning of the Developer Interest Bearing Scheme (DIBS) would have on the sector.
As the property hot spot of 2013, Johor will come in for greater scrutiny after showing robust growth.
In the first six months of the year, there was an overall 12.6 per cent decline in residential transactions in Malaysia over the previous year. While huge drops were seen in the top hubs of Kuala Lumpur (47.5 per cent), Selangor (16.2 per cent) and Penang (28.1 per cent), Johor registered a 4.9 per cent increase, data from the Ministry of Finance's Valuation & Property Services Department showed.
The southern state's transaction value was also telling, expanding a hefty 38 per cent compared with the countrywide average of 1.1 per cent. Johor's figures were all the more significant given the declines recorded by other states. Kuala Lumpur's was especially large at 26 per cent while for Selangor and Penang, the dip was 0.6 and 4.4 per cent respectively.
Rahim & Co expects the effect to be felt most in the residential and Soho (small office/home office), Sovo (small office versatile office) and shop-offices segments, but thinks this could plateau off.
It suggested that speculative activities could have been better curbed if additional stamp duties were levied on third properties and above, as Singapore and Hong Kong have done, noting that this would complement the current 70 per cent loan-to-value ratio on outstanding mortgages on third properties.
Whether home prices will trend down remains to be seen. In Kuala Lumpur and Selangor, prices have risen by double-digits from 2008 to 2012, partly because of easy credit and low interest rates. DIBS in particular - allowed to flourish for the past five to six years - encouraged speculation because of its overly low entry barrier, which in turn promoted hyperactivity in the market. "Hyperactivity increases the frequency of transactions and completion of sale phases, which in turn increases prices as developers tend to revise their pricing upwards every time they commence with new phasing/launching," noted Rahim & Co.
Not surprisingly, the transaction numbers for residential properties priced below RM250,000 (S$97,800) have fallen by a fifth in the first half owing to shrinking supply. For homes priced above RM250,000, there was a 9.2 per cent increase.
As for the new price threshold of RM1 million for foreign buyers, Rahim & Co reckoned the impact of the hike was "not major".
Foreign buyers account for 5.5 per cent of the local property market, and their presence is highest in Kuala Lumpur (10-16 per cent), followed by Johor (10-14 per cent) and Penang (6-7 per cent), according to Malaysia Property Inc.
http://www.businesstimes.com.sg/pre...owdown-seen-malaysia-property-market-20131108
Stricter measures from 2014 to hit KL city centre, Nusajaya harder: survey
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED NOVEMBER 08, 2013
AFTER a noticeable decline in home transactions this year, Malaysia's property market is expected to slow down further when more stringent guidelines take effect next year, with hot spots such as the Kuala Lumpur city centre and Iskandar's Nusajaya being hit harder.
These were some of the findings by Rahim & Co Chartered Surveyors on the anticipated impact a higher rate of real property gains tax (30 per cent) and the banning of the Developer Interest Bearing Scheme (DIBS) would have on the sector.
As the property hot spot of 2013, Johor will come in for greater scrutiny after showing robust growth.
In the first six months of the year, there was an overall 12.6 per cent decline in residential transactions in Malaysia over the previous year. While huge drops were seen in the top hubs of Kuala Lumpur (47.5 per cent), Selangor (16.2 per cent) and Penang (28.1 per cent), Johor registered a 4.9 per cent increase, data from the Ministry of Finance's Valuation & Property Services Department showed.
The southern state's transaction value was also telling, expanding a hefty 38 per cent compared with the countrywide average of 1.1 per cent. Johor's figures were all the more significant given the declines recorded by other states. Kuala Lumpur's was especially large at 26 per cent while for Selangor and Penang, the dip was 0.6 and 4.4 per cent respectively.
Rahim & Co expects the effect to be felt most in the residential and Soho (small office/home office), Sovo (small office versatile office) and shop-offices segments, but thinks this could plateau off.
It suggested that speculative activities could have been better curbed if additional stamp duties were levied on third properties and above, as Singapore and Hong Kong have done, noting that this would complement the current 70 per cent loan-to-value ratio on outstanding mortgages on third properties.
Whether home prices will trend down remains to be seen. In Kuala Lumpur and Selangor, prices have risen by double-digits from 2008 to 2012, partly because of easy credit and low interest rates. DIBS in particular - allowed to flourish for the past five to six years - encouraged speculation because of its overly low entry barrier, which in turn promoted hyperactivity in the market. "Hyperactivity increases the frequency of transactions and completion of sale phases, which in turn increases prices as developers tend to revise their pricing upwards every time they commence with new phasing/launching," noted Rahim & Co.
Not surprisingly, the transaction numbers for residential properties priced below RM250,000 (S$97,800) have fallen by a fifth in the first half owing to shrinking supply. For homes priced above RM250,000, there was a 9.2 per cent increase.
As for the new price threshold of RM1 million for foreign buyers, Rahim & Co reckoned the impact of the hike was "not major".
Foreign buyers account for 5.5 per cent of the local property market, and their presence is highest in Kuala Lumpur (10-16 per cent), followed by Johor (10-14 per cent) and Penang (6-7 per cent), according to Malaysia Property Inc.
http://www.businesstimes.com.sg/pre...owdown-seen-malaysia-property-market-20131108
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