Real estate Malaysia / TH Lim Property Malaysia

  In Malaysia, there are mainly 3 types of land titles: 1) Freehold 2) Leasehold 3) Malay Reserve. However purchasers must be aware of other titles like Master Title, Individual or Strata Title. 1) Freehold Property It means ownership in perpetuity. It is easy to transfer from one person to another as no consent is required from state or federal government authorities for the transfer and charge of the property. However, in certain states or some places in Klang Valley, freehold properties may have “restriction in interest” and which required state authorities or land office consent. The time taken to complete the transaction is usually 3 to 4 months. The government has the right to acquire the freehold properties for Public Projects. You will be compensated at the market rate for the forced acquisition of your entire property or part of your land. Freehold properties are the most preferred types of properties as they command better resale value and they tend to appreciate faster. 2) L

  Announced during PENJANA 2020, under the Exemption Order, gains arising from the disposal of residential properties after 1 June 2020 until 31 December 2021 will be exempted from RPGT . Such exemption is granted for up to three residential properties per individual if the following conditions are fulfilled: 1. the disposer must be an individual who is a Malaysian citizen and is the sole or joint owner of the property to be disposed; 2. the property disposed must be a ‘residential property’, namely a house, a condominium unit, an apartment or flat in Malaysia, and includes a service apartment and a small office home office (SOHO) which is used only as a dwelling house; 3. the residential property which is being disposed of is not acquired by way of: transfer between spouses; or a gift between spouses, parent and child, or grandparent and grandchild where the donor is a citizen; and 4. the SPA for the disposal of the residential property is executed on or after 1 June 2020 but not late