Selangor to abolish Bumiputras' 5% discount for high-end properties?

The Star reported "Reduction for bumiputras buying high-end properties under review" in their news portal today.

"Bumiputras in Selangor may not be given the 5% discount for high-end properties as the state government feels that the rich do not need the reduction."

Personally, I think this 5% discount policy for bumiputras' house buyers need a detailed studies by all parties in Malaysia and not only in Selangor. If the proposed policy is properly drafted and approved, it will be good for the lower income bumiputras to have a chance to buy their own home, and the property developers will be required to build more affordable properties for Malaysians.

New York Times: House Hunting in ... Malaysia

Came across this article in New York Times, "House Hunting in ... Malaysia".

http://www.nytimes.com/2010/06/30/greathomesanddestinations/30gh-househunting.html

A three-bedroom three-bath condominium in Kuala Lumpur in 2010 is selling for 3,500,000 Ringgit ($1.08 Million). The location? It's somewhere in KLCC, where the Petronas Twin Tower is.

Sime Darby Property's New Website

Sime Darby Property recently launched the new website, designed by XiMnet Malaysia.

The administrative backend is powered by XTOPIA, that provide Sime Darby Property with better sales tracking response system and customer rating.

What do you think of the new website? Do send the feedback to Sime Darby Property, or you can write to XiMnet Malaysia, too.

Malaysia My Second Home (MM2H)

For the foreigners who wants to buy property in Malaysia, it is good to read about Malaysia My Second Home (MM2H) program.

Since buying properties in Malaysia requires a lot of research, the MM2H program will help to clarify the questions.

REHDA (Real Estate And Housing Developers' Association Malaysia)

I was browsing through REHDA (Real Estate And Housing Developers' Association Malaysia) or in Bahasa Malaysia - Persatuan Pemaju Hartanah Dan Perumahan Malaysia, and this is what they do:
"REHDA represents 1,000 property development companies and is involved in governance and advocacy for the delivery of housing and real estate to the nation, working with the Government and other stakeholders to enhance the wellbeing and housing of the nation. Our aim is to be responsive, respected, responsible and relevant in partnering the Government in its national and state policies."

I think they are in serious need to redesign their website. Some of their information is not updated, and I think their members would appreciate the free publicity on REHDA's website if they can post the latest property launches.

Malaysia Property Award™ 2010

Full article at http://www.fiabci.com.my/component/content/article/25-announcement/76-malaysia-property-award-2010.html

• Hotel Development – The Westin Langkawi Resort and Spa, Langkawi, Kedah by The Westin Langkawi Resort and Spa
• Master Plan Category – Sunway Ipoh City, Perak by Sunway City Berhad
• Office Development – Quill 7, KL Sentral, Kuala Lumpur by Quill Group of Companies
• Public Sector Category – Kota Iskandar – Phase 1, Johor by Cahaya Jauhar Sdn Bhd
• Residential Development (High Rise) – Springtide Residences, Penang by Coronation Spring Sdn Bhd
• Residential Development (Low Rise) – Precinct 3, Setia Eco Park, Selangor by S P Setia Berhad Group
• Resort Development – Bunga Raya Island Resort and Spa, Sabah by Gloharta (M) Sdn Bhd
• Retail Development – Sunway Pyramid Shopping Mall Expansion, Selangor by Sunway City Berhad
• Special Award for National Contribution – SMART Tunnel, Kuala Lumpur by MMC Gamuda Joint Venture

The Star: Lease extensions to 99 years

KUALA LUMPUR: State governments can approve applications for renewal or extension of leasehold land for a period of not more than 99 years unless they require the land for public purposes.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said all state governments had agreed to adhere to the new policy.

"The implementation of this policy would fulfill the needs of the rakyat who are worried about losing their land titles," he told reporters after chairing the 66th National Land Council meeting here yesterday.

Read the full news at The Star.

I personally think the leasehold land's extension should be 299 years or to be converted into freehold if it's been renewed for more than 3 times since we are living in the property on the said land.