Leasehold or freehold property?

From my interactions with potential buyers of new properties, many of them will immediately get turned off once they are told it is a leasehold property. They are only interested in a freehold property. Let’s look at why leasehold properties are perceived as not as good as freehold: 1. They are a bit difficult to sell once it goes past the 30 years tenure (normal … Continue reading Leasehold or freehold property?

Hidden costs you should know when buying a property

When considering buying a property, it is not just about having sufficient money to pay for your down payment and you are set to go. If you do not know the hidden costs (after you have booked your property), you will be in a big surprise when you later discover you have to pay a lot more which can be outside your initial budget. When … Continue reading Hidden costs you should know when buying a property

Questions on the Agreement (Offer) to Purchase (sub-sale property) form

When you decide to buy a sub-sale property, the property agent or negotiator will ask you to sign an Agreement (Offer) to Purchase form together with your payment of earnest deposit (usually 3% of the purchase price). At this point, this is only your offer to purchase the property. There is no contract yet unless and until the owner accepts your offer to purchase by … Continue reading Questions on the Agreement (Offer) to Purchase (sub-sale property) form

Cukai pintu & cukai tanah in a nutshell

CUKAI PINTU (MALAYSIAN ASSESSMENT TAX) Cukai Pintu is imposed by local councils on property owners to finance the construction and maintenance of public infrastructure, cleaning services and upgrading works in the area under its jurisdiction. This tax is calculated based on the estimated gross annual rental value of a property (residential properties, business properties e.g. complexes, hotels, etc., industrial properties e.g. factories etc, and agricultural … Continue reading Cukai pintu & cukai tanah in a nutshell

RPGT (Real Property Gains Tax)

Real Property Gains Tax (RPGT) is charged on capital gains derived from the disposal of property. The keyword here is “gains”. In simple terms, RPGT is calculated based on any gains made by the seller which is the difference between the selling price and his original purchase price (plus other incidental costs) of a property. RPGT RATES: Below are the RPGT tier rates: Note: The … Continue reading RPGT (Real Property Gains Tax)

What is CCRIS?

CCRIS stands for Central Credit Reference Information System which is maintained by Bank Negara Malaysia. It requires financial institutions (includes all licensed commercial banks, Islamic banks, investment banks, development banks, insurance companies etc. to submit their customer’s credit information to this centralised system. Financial institutions will access the CCRIS system and look at the borrowers’ overall credit history with any financial institutions. They will use … Continue reading What is CCRIS?