[sgbuffett]

Unless they hired lawyer to scrutinise the fine print. the standard S&P has nothing that indicate its a PLS

[p1acebo]

Hyuk hyuk hyuk. Poor handbag Loo kena double whammy

First his Telegram channel kena banned for spreading porn.

Now his call to his followers to buy msian properties kena this

Instant karma for him for fear mongering about Sg being a dangerous place and laughing at sgreans buying Sg properties

[winbig]

Those 99 years properties in Singapore also the same right? What's the big fuss about?

[p1acebo]

TS, do you know the beedio is actually also clickbait for Fourth Ave Residences in Bukit Timah? The beedio cleverly weaves the PLS fiasco and selling koyok for this sg condo.

Clever marketing ploy

[p1acebo]

Those 99 years properties in Singapore also the same right? What's the big fuss about?

Very different.  99yrs condo in sg you as the legal owner can sell or rent outright.

PLS properties you need to get approval from the legal owner to sell or rent your property 

And for the PLS properties the resale value is much lower due to these restrictions.

Boy are these folks going to fry Handbag Loo’s smelly backside 

[p1acebo]

https://www.malaymail.com/news/singapore...ses/161061

[winbig]

Very different.  99yrs condo in sg you as the legal owner can sell or rent outright.

PLS properties you need to get approval from the legs owner to sell or rent your property 

If rent out without getting approval also can right? Do but don't get caught. 

[theold]

A property agent is essentially a salesperson. Their primary job is to sell a property, often starting with just the basic tools: a table and a chair. Without sales, there’s no commission.

A lawyer’s responsibility is to review the contract in accordance with the applicable laws, which, in some cases, might be written in Malay. You will need a Malaysian lawyer. A lot of property investors will also commonly skip this part. If there is a requirement, some will use an oversea or offshore lawyer to escape the VAT/ GST.

However, the real issue lies with the developer. They often fail to disclose critical details about the ownership terms, particularly regarding the 99-year lease. Unfortunately, many buyers unknowingly fall into this trap, leading to misunderstandings and regrets down the road. Oversea Developers big or small will tend to hide details, especially in relation with money, until 1-2 years after you have purchased the properties. The most common is the delay in the TOP date.

You will always have to ask about the unit title deed and land title deed or they come together. The building allows for foreign ownership and the %. Some use company and also offshore companies. Or a company with a lady name as owner. You are like a local in the country but in another low tax county. One country will only allow you to sell to the locals after your purchase. Some will only allow for rental to locals. Some to restricted persons. Some have rental control acts.

[p1acebo]

If rent out without getting approval also can right? Do but don't get caught. 

Yes true.  But rather hard to get a profitable rental for msian properties.  3 of my friends sold at a loss their msian properties.  Heng I never buy at all.

Cheep cheep does not necessary mean good.

That hypocritical Handbag Loo chirped msian food, msian properties cheep cheep cheep, value for money versus Sg properties.

Only to later turn around and scold peepur for saying things are cheap in Msia because of rising prices there 

[moonrab]

Those 99 years properties in Singapore also the same right? What's the big fuss about?

100% Different.

PLS is a 99 years rental contract with the Developer. Not a leasehold purchased from Government. 

The PLS buyer is not a legal owner of the fully paid property. Cannot rent out because the property still belongs to the Private Developer company. 
Similar to you rent a property in the market.
Or similar to our HDB FLEXI FLAT scheme. Cannot sell or rent out. You only collect back the remainder paid rental upon death.

[moonrab]

Very different.  99yrs condo in sg you as the legal owner can sell or rent outright.

PLS properties you need to get approval from the legal owner to sell or rent your property 

And for the PLS properties the resale value is much lower due to these restrictions.

Boy are these folks going to fry Handbag Loo’s smelly backside 

Buyers of PLS property can forget about investment value..🤣
And pray hard the Developer company never goes bankrupt for 99 years. 🤭

[RiseofAsia]

Obeegood, Jiak julu lah.

[sgbuffett]

100% Different.

PLS is a 99 years rental contract with the Developer. Not a leasehold purchased from Government. 

The PLS buyer is not a legal owner of the fully paid property. Cannot rent out because the property still belongs to the Private Developer company. 
Similar to you rent a property in the market.
Or similar to our HDB FLEXI FLAT scheme. Cannot sell or rent out. You only collect back the remainder paid rental upon death.

I wonder if the developer can convert the PLS to a Songapore style leasehold by signing over his right to control the sale and rental of these units....to apease these buyers who feel so cheated.

Develop gains nothjng by stopping the sale and rental of these units anyway.

[Ola]

Those Rich Born Citizens are so stewpig

thinking that other Govt is like PAP

sama sama greedy and welcome FTs with Open Floodgates

死 的 活 该 !

[moonrab]

I wonder if the developer can convert the PLS to a Songapore style leasehold by signing over his right to control the sale and rental of these units....to apease these buyers who feel so cheated.

Develop gains nothjng by stopping the sale and rental of these units anyway.

Not so simple in Malaysia. We must understand there are many stackholders yearning to gain profit over the land. 
The developer is only one of the entity prying for gains.

Example;

"It was reported in the media the PLS was first mooted by Iskandar Investment Bhd (IIB), the strategic developer of Iskandar Malaysia, Johor. 

The idea is that IIB, being the land owner of Medini, will grant leases over the Medini freehold land to various third parties.

These third parties will then act as housing developers, selling both the properties and the leases to end-purchasers. 

At the end of the lease period, the land will revert to IIB as the transaction was merely a lease transaction and will not affect IIB’s freehold title ownership."

Ultimately, the Singaporean's purchase benefits all Malaysian stakeholders. Playing into their hands as usual. 
That's the gist of PLS.

[WhatDoYouThink!]

in sg there are several freehold projects redeveloped and sold as leasehold. Not sure they are aso pls. Must check the fine prints then can know

[cityhantam]

Well, many Singaporeans are too naive to offer themselves as carrot heads! 

[Bluebull]

Actually this PLS is a brilliant scheme for all our HDB housing
In this way, the HDBresale won’t be so ridiculous high
Sinkies won’t be buying to flip after staying for a few years
And use the monies to drive up the private properties market
Our Desmond keeps on coming out with all the ineffective cooling measures for what?
MALAYSIA BOLEH!

[WhatDoYouThink!]

Have you ever wondered and checked what tenure is yr house? Fh, 999, lh, 99 or something else?

[Bluebull]

Can’t stand this joker day in day out
Koyok selling to Singkies to buy properties in Uk
He said his investments in UK properties make him tons of money
The likely truth is that the fees you pay him and commission he gets from uk properties owners make him tons of money

[T3T]

I wonder if the developer can convert the PLS to a Songapore style leasehold by signing over his right to control the sale and rental of these units....to apease these buyers who feel so cheated.

Develop gains nothjng by stopping the sale and rental of these units anyway.

You are kidding right?
Gains nothing? then why took the trouble to come up with PLS in the first place, and hide it for so long

and to think that you call yourself an investor, with Buffett in your name

[luncheonmeat]

in sg there are several freehold projects redeveloped and sold as leasehold. Not sure they are aso pls. Must check the fine prints then can know

Dis wan a competent lawyer doing conveyancing should be abe to uncover. If they fail to inform client can sue for negligence or not?

[luncheonmeat]

Yes true.  But rather hard to get a profitable rental for msian properties.  3 of my friends sold at a loss their msian properties.  Heng I never buy at all.

Cheep cheep does not necessary mean good.

That hypocritical Handbag Loo chirped msian food, msian properties cheep cheep cheep, value for money versus Sg properties.

Only to later turn around and scold peepur for saying things are cheap in Msia because of rising prices there 

Handbag loo bought landed so he should be quite safe. Even if buy landed must make sure iz not those newly developed estates with hidden fine print and clauses.

[WhatDoYouThink!]

Dis wan a competent lawyer doing conveyancing should be abe to uncover. If they fail to inform client can sue for negligence or not?

Lawyers in sg or jb shd hv read out the contracts line by line to the buyers. How cud pls be mistaken as normal leasehold leh? Something is not right somewhere

[moonrab]

Actually this PLS is a brilliant scheme for all our HDB housing
In this way, the HDBresale won’t be so ridiculous high
Sinkies won’t be buying to flip after staying for a few years
And use the monies to drive up the private properties market
Our Desmond keeps on coming out with all the ineffective cooling measures for what?
MALAYSIA BOLEH!

No Singaporean will buy it..🤣
Unless selling it at $100k, similar to our Flexi flat scheme

[moonrab]

Now every Singaporean understands why Malaysian only buy landed property and not condominium 😉🤭

[sgbuffett]

Dis wan a competent lawyer doing conveyancing should be abe to uncover. If they fail to inform client can sue for negligence or not?

Conveyance lawyers may be used but nit necessary jn Malaysian property purchases. It is hard to believe that they hired lawyer and the lawyer missed it. That means the lawyer did not do his work

[sgbuffett]

Given how easy to hide PLS and the 100 biyers none of them realised until 10yrs later and it was only by chance...if not for the lawyer friend, maybe after 40yrs they also dong realise....only until 100yrs when property taken back from great grand kids then realise is a lease.

It means there are many such properties where S'pore buyers until now did not check and do not know is PLS.

[sgbuffett]

No Singaporean will buy it..🤣
Unless selling it at $100k, similar to our Flexi flat scheme

People will buy because there is no choice.
All of us also dont like 99yr leasehold. But people still buy because 70% of the total housing supply is leasehold.

If conver mt 70% supply now to leaee jnsgead of leasehold prices will drop but demand will be just as high. People will biy kne time and stay forever due restrictions on selling and renting

[moonrab]

Buying property in overseas is much more complicated. Unlike in Singapore, because we are the citizen. 

There are many fine prints that regulates foreign buyers. Rules in ownership, selling, renting, maintenance and taxes.

Malaysia law is very protective in their land and property asset ownership. 
The agent selling it to you will never disclose because no Singaporean will buy once they learn about the Malaysian property ownership legalities. 🤣