Puteri Harbour Community

[DCputeri]

Thanks. I suppose your Encorp marina's apt state levy is absorbed by developer. I will follow up with them.

The onus of getting the State Consent lies with the purchasers. It has nothing to do with the developers.
Therefore one have to ask its lawyers for such proof of approval. I believe state levy can be used as an indication of approval but one must be careful to ensure it is issued in one's name.

 

[1nottiboy]

Lawyer told me; if state consent not approved, all monies will be refunded back to purchaser. but incidentals such as documentation fees, transport, postage, courier, etc are down the drain.

 

[Funniman]

Thanks. I suppose your Encorp marina's apt state levy is absorbed by developer. I will follow up with them.

State levy apples only to non Malaysians.
Yes, it is sensible to check that out with your lawyers.

 

[Dfiris]

For the new ruling on secondary market in JB,

locals k buy from locals & foreigners

foreigners k only buy from foreigners

As a local, dun have to worry that much cos the main demand is still local driven

 

[Funniman]

For the new ruling on secondary market in JB,

locals k buy from locals & foreigners

foreigners k only buy from foreigners

As a local, dun have to worry that much cos the main demand is still local driven

New market and secondary market is totally different.

New market stay as it is. If it is 100% allowed for foreigners, then there is no change except for the state consent levy.
So foreigners are allowed to buy as many as possible so long it is allowed in Iskandar zones.

Secondary market is affected. But foreigners cannot influence market prices as it has to follow the asking prices of the locals.
As long as the foreigners buy for their own stay, no problems. But if it is for "goreng", then it can only "goreng" among foreigners. Doesn't affect locals. The downside is locals cannot sell to foreigners.

For high end high demand condos, no problems. Purchasers are normally well heeled and can afford to keep it as holiday homes.
But for the mid range, locals prefer landed, therefore the prices are going to be stuck for a while. As for foreigners, unless you have buyers are willing to pay extra for a VP unit, you will be in a long haul. Not to forget that there are new launches at developer price every now and then.

Market will definitely be dampened but if it is for own stay, then no problems.

 

[DCputeri]

Developer's lawyer have asked for the following particulars like: 1) Place of Birth; 2) Race; 3) Marital Status; 4) Religion; 5) Occupation; and 6) Employer’s Name & Address, as these information are required by the land office for application of state consent in June 2013. I am checking with my laywer. Hope it is already approved.

State levy apples only to non Malaysians.
Yes, it is sensible to check that out with your lawyers.

 

[Dfiris]

New market and secondary market is totally different.

New market stay as it is. If it is 100% allowed for foreigners, then there is no change except for the state consent levy.
So foreigners are allowed to buy as many as possible so long it is allowed in Iskandar zones.

Secondary market is affected. But foreigners cannot influence market prices as it has to follow the asking prices of the locals.
As long as the foreigners buy for their own stay, no problems. But if it is for "goreng", then it can only "goreng" among foreigners. Doesn't affect locals. The downside is locals cannot sell to foreigners.

For high end high demand condos, no problems. Purchasers are normally well heeled and can afford to keep it as holiday homes.
But for the mid range, locals prefer landed, therefore the prices are going to be stuck for a while. As for foreigners, unless you have buyers are willing to pay extra for a VP unit, you will be in a long haul. Not to forget that there are new launches at developer price every now and then.

Market will definitely be dampened but if it is for own stay, then no problems.

Hi Bro,

My wife is a Malaysian and I ama Singaporean. For the next investment property purchase in JB, should I put it u fer my wife's name or my name? Whats yr advise?

 

[Funniman]

Hi Bro,

My wife is a Malaysian and I ama Singaporean. For the next investment property purchase in JB, should I put it u fer my wife's name or my name? Whats yr advise?

Bro, this is what I do. All my properties locally or overseas is placed in joint names or in a company of which me and my wife are shareholers.
The main reason is "inheritance tax" which is as high as 40% in UK. If one party dies, the other party automatically take over the share so no inheritance tax is imposed. In a company ownership, we do not own the property. We own just the shares. The company own the properties.

That's food for thought.

 

[Dfiris]

Bro, this is what I do. All my properties locally or overseas is placed in joint names or in a company of which me and my wife are shareholers.
The main reason is "inheritance tax" which is as high as 40% in UK. If one party dies, the other party automatically take over the share so no inheritance tax is imposed. In a company ownership, we do not own the property. We own just the shares. The company own the properties.

That's food for thought.

That is a good point, which is why I still shun from some countries.

 

[Funniman]

Just paid my 2nd progress payment for Encorp T2.
3rd progress payment would be many months away as mine is on the 20th floor so have many months to save....hehe.

 

[DCputeri]

T1 is about 3 months ahead of T2 construction.

Just paid my 2nd progress payment for Encorp T2.
3rd progress payment would be many months away as mine is on the 20th floor so have many months to save....hehe.

 

[DCputeri]

Extracted this article from the weekly magazine, "TheEdgeMalaysia".

Can see why Singapore are retiring in iskandar. In another article, it shows rental yield in Penang with low yield of about 0.8 - 1% for a landed property and 3-4% for condo.

Income tax is really high with 26% for people with annual income of RM100k as compared to Singapore with the top bracket paying only 20%.

 

[Serenity]

Extracted this article from the weekly magazine, "TheEdgeMalaysia".

Can see why Singapore are retiring in iskandar. In another article, it shows rental yield in Penang with low yield of about 0.8 - 1% for a landed property and 3-4% for condo.

Income tax is really high with 26% for people with annual income of RM100k as compared to Singapore with the top bracket paying only 20%.

Singapore INCOME TAX may look low BUT if you compare all the INDIRECT TAXES, wonder which is higher???

 

[FHBH12]

The Singapore costs seem outdated. I estimate overall cost of comfortable retirement (house, car, daily necessities, medical treatment, entertainment etc) should be half in Johor compared to Singapore using SGD.

 

[cybermad]

Heard at a talk on PH that the design of PH is modelled after Monaco , right to the concept of both a public and private marina !

 

[1nottiboy]

does massage come under entertainment or daily necessity?

The Singapore costs seem outdated. I estimate overall cost of comfortable retirement (house, car, daily necessities, medical treatment, entertainment etc) should be half in Johor compared to Singapore using SGD.

 

[Funniman]

Heard at a talk on PH that the design of PH is modelled after Monaco , right to the concept of both a public and private marina !

When I first saw PH, it reminds me of Darling Harbour in Sydney long ago. Those days, it was just a old harbour and surrounding it is some warehouses. Then the local council put in some alfresco diding and enetertainment. I remember seeing the water screen projector shows. Even had this old sailing ship parked there as a dining restautant.Today, it is a shopping haven and great dining area.

 

[FHBH12]

does massage come under entertainment or daily necessity?

It depends what type of massage. For some, it may come under daily necessity.

 

[potter]

does massage come under entertainment or daily necessity?

Wan masagi, go phil, like eating a big bowl of noodle. 2 hrs. Real masagi.

 

[menghuii]

Heard at a talk on PH that the design of PH is modelled after Monaco , right to the concept of both a public and private marina !

mention monaco reminds me of a 45 mins video by Piers Morgan who went to make a programme of the housing/rental prices and the who's who who go there. if ph is to become like monaco i think maybe only the next generation can see it. take a look.

https://www.youtube.com/watch?v=ruQick4JoBU