Is this really required there in Malaysia for I have seen most of the developments with this discount. Is everybody entitled to have that when investing a property? Or only limited?

normally it's required if the land's malay reserved.

Malay reserved? Lots only reserved for Malaysians?

V. Barias

I am quite sure Lin Chiek Chong has given incorrect information.

Bumiputras are entitled to a discount of around 5% (it varies on the development) on most or all new developments. I am not sure if they are entitled to buy only certain lots of of any of the units within the development. These are not Malay (Malay = Bumiputra) reserve units or lands.

No-one else is entitled to any discount, even the 3rd generation Chinese or Indian person with Malaysian citizenship.

Malay reserve is a different thing. They are lands or properties that only Malays can buy and they must always be held by Malays, so a Malay who owns it must sell it to another Malay. Because of this severe restriction Malay land is very underrdeveloped and undesirable. Even in the city centre (Kampung Baru) the Malay Land is very underdeveloped.

Free S&P
7% Bumiputra discount
5% Non-Bumiputra discount

Malay reserved can be converted to international title....

What is meant by Bumiputera Discount is only on the selling price of a unit house,usually it's around 5 to 7%.Usually a certain quota of units is allowed for housing developers to allocate to Bumi Buyers.If the units are not sold within a stipulated period then an option is given to the developers to the right of sales to non Bumi at an original price.
Secondly,I would like somebody to clarify on how a Malay reserve freehold land is to be converted to International title and what are the benefits to non Bumi buyers.

Thanks to all of you for explaining this well. By the way, when a property listing indicates a 7% Bumi Discount, the selling price posted in the listing is already deducted with this one? And when you say 7%, that's really 7% of the total price?

So those who purchase the a house with a bumi discount can only sell the house to another bumi? is tat correct?

yes...when u buy with a bumi discount..u have to sell it to bumi coz it consider bumi unit...it meant to be for bumi only

Quicky,Lin,

I beg to differ. Bumi discount apply to all bumis. If you were a bumi, you enjoy bumi discount on a property. You CAN ABSOLUTELY SELL the property to non-bumi and there is no such restriction UNLESS the land has certain express condition that limits you to sell only to the bumis, or it is a malay reserved land.

Lin,

We wish to understand what do you mean by "Malay reserved can be converted to international title...."

Lin,I have come across International title for either a leasehold land or a Malay Reserve land.I am asking a question as to how it can be converted and what is the meaning of International title in land business?

Thanks to all of you for explaining this well. By the way, when a property listing indicates a 7% Bumi Discount, the selling price posted in the listing is already deducted with this one? And when you say 7%, that's really 7% of the total price?

Anyone please? Thanks

hassan ariff wrote:
Lin,I have come across International title for either a leasehold land or a Malay Reserve land.I am asking a question as to how it can be converted and what is the meaning of International title in land business?
i was being told that International title meant foreigner also can purchase.... :_blink_:

Conversion of leasehold to a freehold requires the owner to pay a substantial amount of money to the relevant authority (subject to approval).

While conversion of Malay Reserve to non-malay reserved is difficult, but not impossible. I can't disclose here coz the info i know is quite complicated.

Can anybody explain on the "international title" ? Does this apply in Malaysia?

I have never heard of that, and appreciate expert views here.

i have a malay friend interested in buying a bumi-lot shop house in johor. but i thinks of selling out again to non-bumi, is this possible? since i bought it with less 15% and wondering if could profit from selling to a non-bumi.
*note: 1.title still under proprietor's name;
2.he haven't apply for bumi release;
3.10% deposited to the developer as s&p signed.

hi,

I have a situation here... When a bumi buyer insisted of purchasing a non bumi unit and subsequently bought the non bumi unit on the grounds that he was been informed by the developer. Later on, when he decides to sell the unit to a non bumi purchaser. He was informed by his lawyer that this unit was listed as Bumi unit...

In his letter of offer and sales & purchase agreement have not stated anything bout the unit was listed as bumi unit and no discount were given to him. I

By the way, need to make an inquiry when the purchase price posted in the letter of offer, has it been deducted with the bumi discount or should it state that the actual selling price and then discounted in the letter of offer?

When you mentioned this discount, is there any law or guidelines abides it? please let me know.

Thabnks