[TIPS] Malaysia Property Types

source: http://www.iproperty.com.my/resources/malaysia-property-types.aspx

Malaysia Property Types

Property terminologies are one of the most basic things you need to get right before you venture out to visit properties with real estate agents. Here's a list of the more common types of properties that are available in Malaysia.

Developer / New

Sub-sale / Secondary

Auction

Commercial

New developments that are purchased directly from property developers upon viewing the plan and/or show units.

Existing properties that are purchased from a seller who is not a developer.

Existing properties that are available at a below-market prices.

Properties that are mainly used for business purposes such as malls, offices, and so on.

There is a 'build-then-sell' properties, where developers complete construction before selling units.

These units are usually occupied by owners and/or renters, or are vacant.

Sold on 'as-is-where-is' basis. No guarantee is given on Vacant Possession and titles.

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Note: For auction properties, sometimes it is not possible to inspect the interior of the property, but to rely on information given is a risk that the bidder has to take.

The three major property types

Land

Land status can be checked at the Land Office or the State Land Registrar.

Freehold land

Leasehold land

Malay reserve land

Commercial

These days, commercial buildings often combine functions e.g. retail on the lower floors and offices on the upper floors.

Retail lots / stores

Shopping centres

Shop offices

Shop houses

SOHO / SOFO / SOVO

Commercial buildings

Factories and warehouses

Residential

Solely used for residential purposes, not for business or office purposes.

Apartments

Serviced apartments

Townhouses

Condominiums (Studio, standard, penthouse, duplex)

Terrace houses (single or double storey)

Semi-detached houses

Bungalows

Further explanation on the three land types

Freehold

Leasehold

Malay Reserve Land

The tenure of freehold land is for life. You own the land, the unit, the building and anything that is on the land. There is no time limit for the owner and the freehold land lies with the titleholder until the property is transferred to someone else.

Leasehold land is returnable after the expiry of the lease period. This type of land usually belongs to the government and the lease is often for 99 years. When the lease expires, the government can take back the land or lease it further. At the end of the lease it is fairly easy to renew the lease for a further 99 years upon payment of a premium based on the current market value of the property. It is also possible to arrange for a new lease during the period of the existing lease.

Malay Reserve Land is land that is exclusively for Malays or Bumiputeras. It cannot be sold to other races, including foreigners.

* All data and information is correct at time of upload. These articles are for information and basic educational purposes only.
Consumer experiences may differ depending on location or other factors.

[FOR SALE] Luxury Duplex Penthouse @ The Meritz KLCC

 

This is a Fully furnished luxury duplex penthouse/ corporate suite comes with a fully-equipped professional Chef industrial kitchen, Two spacious bedrooms, One small office/study area, spacious hall which capable for 30 pax for retreat/ function needs and 8 reserved car park bays. Asking Price RM5,200,000 Built Up 3283 Square Feet Bedrooms 2+1 Bathrooms 3 Hold Type Freehold Facility BBQ, Gymnasium, Jacuzzi, Playground, Sauna, Swimming Pool The Meritz is a FREEHOLD high rise residency strategically located opposites the Petronas Twin Towers- KLCC and Avenue K merely 3 minutes walking distance. It is easily access to Jalan Ampang, Jalan Tun Razak, Jalan Sultan Ismail, Jalan Yap Kwan Seng, Jalan P-Ramlee, Ampang-KL Elevated Highway (AKLEH) , MEX Highway and etc. Besides Suria KLCC, there are several shopping heavens within short distance including Pavilion KL, Lot 10, Starhill Galery, KL Plaza, Sg Wang Plaza, Berjaya Times Square and BB Plaza. For golf enthusiasts, there Royal Selangor Golf Club located just within 3 kilometers. For kids’ education, there are Fairview International School, Sayfol International and Alice Smith International School and some local schools located nearby. ** owner welcome to list ** For viewing & further inquiry kindly contact:  +6 016-303 1788/ kltopproperty@gmail.com

[FOR SALE] Villa Wangsamas @ Wangsa Maju

 

Villa Wangsamas is a high density condominium strategically located next to Wangsa Maju Urban Center. It is the only freehold condominium among the new condomiums in that area. It comprises a total of 1317 units which consists of two phases, Phase 1 (5 towers) and Phase 2 (4 towers). There are 8 units per floor for typical unit.

This up market condominium is also easily accessible from Jalan Jelatek, Middle Ring Road 2 (MRR2), Ampang-Kuala Lumpur Elevated Highway (AKLEH) and Damansara Ulu Klang Expressway (DUKE). It is within minutes to KL city centre, Ampang, Melawati and also accessible by trains by the Setiawangsa Putra LRT station and 10 mins walk to Sri Rampai Putra LRT station.


Property Details:-
Developer: Setapak Heights Development
Completion Date: Jan 2010
Built-Up: 1267 sqf (phase 2)
Room: 3
Bathroom: 3
Carpark: 2
Furnishing: Partly furnished
Facility BBQ, Parking, Gymnasium, Mini Market, Playground, Swimming Pool, Wading Pool, 24hr Security

* Hassle free by just calling one agent *
*** owner welcome to list ***

Selling Price: RM560,000

For viewing kindly contact:  016-303 1788/ kltopproperty@gmail.com