minimum RM500k properties for foreigners, property investor screwed?
this was in Berita Harian today
Berita Harian Online
make it short, before 2010, foreigners can only purchase properties in Malaysia with value of no less than RM250k…now, they've raised that up to RM500k…
reason is, they fear foreigners are over-bidding the locals for lower cost properties…in another word, locals cant buy the property they want becos the foreigners with higher exchange rate than RM is snapping up all properties…
to me, that is utter BS…what i see is plenty of developments here & there…plenty of unsold properties…to say there's a strong competition going on between the locals & foreigners is a load of crap…
say i invested in a property where i feel foreigners or expats would wanna live in for RM300k, and i expect the price to reach at RM400k after completion, making myself handsome amount of returns. now, i cant sell them to foreigners for less than RM500k…foreigners with more than RM500k budget will look for something else…which means i'm royally screwed?
i honestly dun understand why they wanna enforce such rules…already foreigners can only apply up to 80% or 70% loan if not mistaken…why wanna make it more and more difficult for them to buy properties in M'sia? what happened to the 'Malaysia my second home' program? enough already is it?
in KL/Selangor, its probably easy to get houses with value of RM500k and up…what about other states? like Alor Setar? Melaka? certain places in Perak? as i know, some of these more sub-urban areas dun have high property values, but plenty of foreigners prefers the serenity of these places over the hectic city lives..so again, property investors from these states are royally screwed?
in addition, not all foreigners are filthy rich…some of them moved here for a different reason…maybe becos they like malaysia and maybe becos property prices here are a hell lot cheaper than say s'pore & HK or Japan…with this new ruling, wouldn't it deter some of them to invest or choose m'sia as their 2nd home?
what you guys think?
Where to report for illegal property transaction?
May i know where should i go for report to a illegal property transactions?
One of my ex-colleague just fired by my company because of he doing freelance at outside..
he done one of a housing property selling cost RM3,4 million and received a commission amount RM60-70k..
without paying single cents back to my company n paying gorvenment taxes..
n he stil vy lansi n showoff at outside now..thought tat my company wouldn't report him about tis..
may i know where should i report to?which gorvement department?got any links? 
Renovation quotation in Penang, Am I quoted correctly by my contractor?
Hi all,
I just got a quotation from my contractor (who is a friend's uncle) and I would appreciate just any feedbacks from you all regarding the price. He said he will give me the best price since we are friends. The size of my apartment is 1000sqft.
1. To hack tiles in kitchen, kitchen cabinet, 2 bathrooms, master bedroom cabinet and to hack the wall between kitchen and living room to have a bar/breakfast top hole 48" x 40" = RM 1500
2. Living room ceiling for recessed lights 43' 6" x 24D x 8" H = RM 1200
Kitchen
3. To build kitchen granite top 11' x 2D x 32H (L-shape) = RM 4180
4. To plaster floor tiles 1' x 1' (labour + tiles)= RM 800
5. 48" x 40" granite top with wooden frame around the bar = RM 1600
6. To build wall tiles 10" x 16" (labour + tiles) = RM 3740
7. Hanging cabinet full-height 11'L x 5'H x 13D = RM 2450
Master bathroom
8. To build up wall tiles 10" x 16" (labour + tiles) = RM 2400
9. Floor tiles 8 x 8 with waterproofing = RM 700
10. Aluminium sliding door 54 x 24 with plaster ceiling top = RM 450
11. Shower tempered glassdoor = RM 1550
Guest bathroom
12. Build up wall tiles 10" x 16" (labour + tiles) = RM 2400
13. Floor tiles 8 x 8 with waterproofing = RM 700
14. Aluminium sliding door 54 x 24 with plaster ceiling top = RM 450
15. Shower tempered glassdoor = RM 1550
16. Whole house painting ICI pear gold (paint + labour) = RM 2500
17. Whole house skim coating = RM 2200
_____
Is the price really the best out there or I can easily get the same price from other contractors? Thank you for any replies smile.gif
Five Stones @ ss2/72,
Hi peeps,
Since there's no specific discussion on Five Stones, I thought I'll start one. Anyhow, was just there earlier for their "soft launch" of Phase II. The last 2 remaining towers are now available for sale:
Block D: Villa Block (2 units per floor, 25 stories) @ RM520 per sq feet [2,909 sq feet]
Block E: 4 units per floor, 35 stories @ RM480 per sq feet [2,100 & 2,400 sq feet]
For those who's truly interested, I suggest U make the trip to haf a look c and decide before Friday because according to their salespeople, the Management is indicating a 2% price increase for when they officially launch on Saturday [currently they're giving a 2% early bird discount]. Also, there aren't many units available to pick from.
–Added–
Indicative maintenance fees is RM0.27 p/sq feet.
Website: http://www.sdb.com.my/main_sdb.htm
Bandar Puteri study in SRJK (C) Han Min
i was told that majority of the kids in Bandar Puteri study in SRJK© Han Min.
Is it true?
If we register to study in Yak Chee- Bandar Kinrara- is the chances high?
How is the quality of Han Min in terms of acedeminc and non acedemic?
IS Yak Chee the best school in Puchong?
Zon-E @ Fraser Business Park
It has been hailed as the largest ICT Hub in Malaysia. Just recently, another part of it, the BXB (Ban-Xan-Ba) has been open for lease. This is the Fraser Business Park, the new business and ICT district in Pudu, also the one-stop haven for a wide range of IT products and services, plus lifestyle and innovations. The project has a gross development value of RM350 million, which is bounded to be complete in the second quarter of Year 2010.
8trium @ Sri Damansara
‘The Landmark of Premium Office Suites and Retail set to Triumph’. This is the tagline printed on the brochure for the 8trium @ Sri Damansara. Design-wise, it still has a spectacular air around it, although it doesn’t have the uniqueness of other buildings, such as the Icon@ Solaris Dutamas, or other more creative designs. Two 21-storey office towers stood above a few storeys of retail lots.
Kenny Heights Estate-Designer Homes on Prime Golden Land
Kenny Heights is a development plan for an integrated midtown, segmented into 9 parcels, which is estimated to take about 15 years for full completion. Named after Kenny Hills and Damansara Heights, Kenny Heights is the planned as the main commercial centre gateway to Kenny Hills, also known as the ‘Beverly Hills of KL’.
Featured:
Magna Prima plans RM1.3b twin towers on KL prime site
Property developer Magna Prima Bhd will build twin tower blocks, valued at more than RM1.3 billion, on 1.05ha prime land near the Petronas Twin Towers in Jalan Ampang, Kuala Lumpur, its chief said.
Previously, Magna Prima had wanted to build a 50-storey Grade A office building, a 38-storey serviced apartment tower and a two-level retail podium, with total estimated gross floor area of 1.2 million sq ft, on the existing school site.
“If we could, we would have liked to build a luxury hotel, too. But we have to look at what is already in the market in that location.
“We feel we can extract the most value from the land by building the twin blocks,” its chief executive officer Yoong Nim Chee said.
The first tower will feature luxury serviced apartments. The second tower will be a Grade A green office building with up to 900,000 sq ft of net lettable area. The office tower may be leased or sold.
“We are conceptualising the designs with international architects. Also, on how best to position the products,” Yoong told Business Times in an interview.
Magna Prima is targeting to start construction in 2013, after approval by Ho Hup Construction Co Bhd’s shareholders to sell to the company 2.2ha in Bukit Jalil, Kuala Lumpur, for RM10.7 million where the new Lai Meng school will be built.
The school association has confirmed that it will move to a site in Bukit Jalil, and Magna Prima will help in the relocation of the school, Yoong said.
However, Magna Prima’s project in Jalan Ampang will only start when the new school is completed.
The twin towers project will be Magna Prima’s single largest development to date, and its second project in the Kuala Lumpur City Centre area. The first was the RM300 million Avare condominium in Jalan Stonor, launched in 2005.
“We believe our product offering will hold well. Look at land transactions opposite where we bought ours. The deals were transacted at a higher value. So, we are expecting some decent profits during the development,” Yoong said.
Last November, Dijaya Corp Bhd said it would pay RM123 million for land in Jalan Ampang on which the historical Bok House used to sit.
The price translates into about RM2,200 per sq ft (psf), which is slightly below the RM2,588 psf that Sunrise Bhd paid in August 2008 for the land occupied by Wisma Angkasa Raya.
Magna Prima’s price for the land translates into RM1,500 psf.
By Business Times
Magna Prima plans RM1.3b twin towers on KL prime site
Property developer Magna Prima Bhd will build twin tower blocks, valued at more than RM1.3 billion, on 1.05ha prime land near the Petronas Twin Towers in Jalan Ampang, Kuala Lumpur, its chief said.
Previously, Magna Prima had wanted to build a 50-storey Grade A office building, a 38-storey serviced apartment tower and a two-level retail podium, with total estimated gross floor area of 1.2 million sq ft, on the existing school site.
“If we could, we would have liked to build a luxury hotel, too. But we have to look at what is already in the market in that location.
“We feel we can extract the most value from the land by building the twin blocks,” its chief executive officer Yoong Nim Chee said.
The first tower will feature luxury serviced apartments. The second tower will be a Grade A green office building with up to 900,000 sq ft of net lettable area. The office tower may be leased or sold.
“We are conceptualising the designs with international architects. Also, on how best to position the products,” Yoong told Business Times in an interview.
Magna Prima is targeting to start construction in 2013, after approval by Ho Hup Construction Co Bhd’s shareholders to sell to the company 2.2ha in Bukit Jalil, Kuala Lumpur, for RM10.7 million where the new Lai Meng school will be built.
The school association has confirmed that it will move to a site in Bukit Jalil, and Magna Prima will help in the relocation of the school, Yoong said.
However, Magna Prima’s project in Jalan Ampang will only start when the new school is completed.
The twin towers project will be Magna Prima’s single largest development to date, and its second project in the Kuala Lumpur City Centre area. The first was the RM300 million Avare condominium in Jalan Stonor, launched in 2005.
“We believe our product offering will hold well. Look at land transactions opposite where we bought ours. The deals were transacted at a higher value. So, we are expecting some decent profits during the development,” Yoong said.
Last November, Dijaya Corp Bhd said it would pay RM123 million for land in Jalan Ampang on which the historical Bok House used to sit.
The price translates into about RM2,200 per sq ft (psf), which is slightly below the RM2,588 psf that Sunrise Bhd paid in August 2008 for the land occupied by Wisma Angkasa Raya.
Magna Prima’s price for the land translates into RM1,500 psf.
By Business Times
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