New developments to share

[FHBH12]

Agree. Actually, they can follow the same as Singapore i.e. Foreigners is not allowed to buy landed.All problems solved immediately.

Banning won't solve the housing issue in JB, which is due to high local demand and low supply in the low-mid range landed housing. Foreigners are just convenient scapegoats.

 

[malpaso]

Makes sense. Locals aren't into condo living. Foreigners make up the bulk of condo buyers.

So the proposal is win-win: Locals will be happy their landed turf is protected from competition from foreigners. Developers who are heavily invested in recent mega land acquisitions for condo developments will be able to sell their thousands if units to be built in the next few years. The inflow of foreign funds from buyers in turn will have positive knock-on effects on the overall economy of iskandar.

I think the major concern now is the fact that there is no transparency moving forward on how housing policies will flip flop in future. Before last budget it was condo and landed >500k. Then budget announced all housing above 1M. then in jan, johor state govt says only start in May. but doesn't cover projects already greenlighted. now it's May, and developers are all just started to follow the 1m rule, ding-dong now say landed 2M, condo drop to 500k. What next? And when? don't think it's good for iskandar. i mean we all (investors, buy for own stayers, developers, agents etc) can only take action based on existing policy. and it's not small change, a few hundred K''s of SGD $. most of us are intelligent enough to weigh the pros and cons before taking the plunge, but if the policy change drastically every foew months what does that do to investment confidence?

(btw, i couldn't find any report that sultan mentioned condo floor price reduce to 500k. can someone provid elink...)

 

[cow138]

Also I think the transport links to Singapore if not resolved quickly will be an hindrance to the growth of Iskandar

 

[jasonjst]

Agree. Actually, they can follow the same as Singapore i.e. Foreigners is not allowed to buy landed.All problems solved immediately.

Then existing owners for landed home how ? Can only sell back to locals if they dont need it anymore ? Or can pass to next generation ?

 

[ginfreely]

I think 2m or outright ban foreigner from buying landed also not an issue. I see my local neighbours all very rich what; renovation spent 200k or 300k without a blink. Most are working in Spore or doing business earning from the SGD earning locals and Singaporeans. So just the house to these locals lor.

 

[Travis]

Click on this link below for full report of Sultan's speech from The Star online bro.... The Sultan did mention RM500k limit for high-rise building amongst other things..

http://www.thestar.com.my/News/Nati...FridaySaturday-implementation-in-all-sectors/

I think the major concern now is the fact that there is no transparency moving forward on how housing policies will flip flop in future. Before last budget it was condo and landed >500k. Then budget announced all housing above 1M. then in jan, johor state govt says only start in May. but doesn't cover projects already greenlighted. now it's May, and developers are all just started to follow the 1m rule, ding-dong now say landed 2M, condo drop to 500k. What next? And when? don't think it's good for iskandar. i mean we all (investors, buy for own stayers, developers, agents etc) can only take action based on existing policy. and it's not small change, a few hundred K''s of SGD $. most of us are intelligent enough to weigh the pros and cons before taking the plunge, but if the policy change drastically every foew months what does that do to investment confidence?

(btw, i couldn't find any report that sultan mentioned condo floor price reduce to 500k. can someone provid elink...)

 

[Frodo]

I think 2m or outright ban foreigner from buying landed also not an issue. I see my local neighbours all very rich what; renovation spent 200k or 300k without a blink. Most are working in Spore or doing business earning from the SGD earning locals and Singaporeans. So just the house to these locals lor.

ok, since i already bought landed, can ban if they want. LOL very chek ark of me!

 

[wuqi256]

Sultan Ibrahim said the Federal Government's proposal for the ceiling price of properties for foreign buyers to be set at RM1 million was not suitable for Johor.
"It may be suitable for Kuala Lumpur but not Johor. The RM500,000 ceiling price for strata-title properties or condominiums may be acceptable, but for landed properties, the ceiling price should be RM2 million."
He said he supported the proposal to have an international housing zone to curb rising prices on properties outside the zone.
"The government should be strict with developers regarding the construction of low-cost and medium-cost housing, and developers who do not observe the ruling should be blacklisted and their building plans not approved in the future."
Sultan Ibrahim said Johor was different from other states because of its proximity to Singapore, which is a developed country.
"Johor and Singapore have forged strong ties as we depend on one another. As such, the Federal Government has to consult the Johor government on all matters regarding foreign affairs, especially those concerning Johor and Singapore."

http://www.nst.com.my/nation/general/standardise-johor-s-rest-days-1.607963

 

[wuqi256]

Then existing owners for landed home how ? Can only sell back to locals if they dont need it anymore ? Or can pass to next generation ?

Hi Jason, sell to locals, or wait for the value to go up to 2m and then sell. Another alternative is to put it into a company and transfer the shares to kids next time.
Some whose houses like semi-d or bungalows are already above 2m will still just continue.

All this is doing is the state consent etc and some bank loans will just get progressively harder to get.

 

[ginfreely]

ok, since i already bought landed, can ban if they want. LOL very chek ark of me!

frankly, if I haven't bought JB property, I wouldn't even touch it now with a ten feet pole.

 

[Frodo]

frankly, if I haven't bought JB property, I wouldn't even touch it now with a ten feet pole.

In Singapore can only see and touch landed. In JB can see, touch, own, and stay in landed. So for me it is thumbs up.

 

[gooddebt]

Hi Jason, sell to locals, or wait for the value to go up to 2m and then sell. Another alternative is to put it into a company and transfer the shares to kids next time.
Some whose houses like semi-d or bungalows are already above 2m will still just continue.

All this is doing is the state consent etc and some bank loans will just get progressively harder to get.

But the co need to be a Sdn Bhd with the majority shareholders being M'sians ?

 

[ginfreely]

In Singapore can only see and touch landed. In JB can see, touch, own, and stay in landed. So for me it is thumbs up.

You are right, to each his own.

 

[wuqi256]

But the co need to be a Sdn Bhd with the majority shareholders being M'sians ?

Yes for Sdn Bhd but no need for the majority to be locals, there is until now still somehow a myth that all companies in Malaysia (Sdn Bhd) needs to have majority as locals. Its not the case unless you have a specific industry that needs the local majority or where wholly foreign owned companies are unable to do or enter. Somehow even those who have many companies here since long ago will still on and off ask me if the new company they are setting up will need locals or not. Of course if the company is deemed to be foreign owned through share ownership, you will still get the foreign levy that you will have to pay.

Else other than the payments, its just the transfer of shares to the next generation when they are ready.
I have already started doing that last year.

 

[wuqi256]

In Singapore can only see and touch landed. In JB can see, touch, own, and stay in landed. So for me it is thumbs up.

Yes me too, a couple of units that i was considering, i will likely go into now since they are near enough to the limits anyway and i will just hold. Its different for me as I buy mainly as its one of the very few if not about the only place in South East Asia where one can still buy freehold landed properties. Most other countries will make it very difficult to exit or you will only own the building (freehold) but the land itself will not be yours (never chanote as in the case of Thailand)

 

[wuqi256]

Another funny thing, many people do not believe that one can take any funds out of Malaysia. Recently just had someone who was worried about his funds from a quick punt that made him some money. Somehow some expert told him he can never bring a cent out of Malaysia. Never.

Just change it to your own country currency and have it remitted/transferred out or when doing the remittence/transfer or just ask them to convert for you.

Someone i know did a large amount from sales of one of his properties to buy a boat in SG recently. Again, you can take money out of the country but just needs to change to your home currency first(whichever country you are bringing in the money to)

 

[gooddebt]

Yes for Sdn Bhd but no need for the majority to be locals, there is until now still somehow a myth that all companies in Malaysia (Sdn Bhd) needs to have majority as locals. Its not the case unless you have a specific industry that needs the local majority or where wholly foreign owned companies are unable to do or enter. Somehow even those who have many companies here since long ago will still on and off ask me if the new company they are setting up will need locals or not. Of course if the company is deemed to be foreign owned through share ownership, you will still get the foreign levy that you will have to pay.

Else other than the payments, its just the transfer of shares to the next generation when they are ready.
I have already started doing that last year.

OIC...so technically I can still sell landed below 2m to a Sdn Bhd set up by foreign shareholders ?

 

[Frodo]

Yes me too, a couple of units that i was considering, i will likely go into now since they are near enough to the limits anyway and i will just hold. Its different for me as I buy mainly as its one of the very few if not about the only place in South East Asia where one can still buy freehold landed properties. Most other countries will make it very difficult to exit or you will only own the building (freehold) but the land itself will not be yours (never chanote as in the case of Thailand)

I am not as fortunate as you to own multiple properties, just feeling blessed to be able to own one.

 

[wuqi256]

Dear all, haze coming soon, best to stock up on N95 masks or go to hardware stores like the Living Depot and buy those anti-dust spray type of masks (resemble gas masks) but must find a good filter to fit on. The advantage of having this type of masks is for many models for this, you can fit on a goggle if the dust really gets bad and you need to remain outdoors for long.

 

[RedsYNWA]

OIC...so technically I can still sell landed below 2m to a Sdn Bhd set up by foreign shareholders ?

Dicey I think, best to consult lawyers. But I think the lawyers themselves are still waiting for more clarity on this. Golden rule: The safest bet is to buy for own use.