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- Ownership of Malaysian real estate
Ownership of Malaysian real estate
After independence in Malaysia, state governments were given the authority to manage and own land. While some land is being developed as “permanent ownership” land, others are being developed as “lease hold” land leases for a certain period of time from the state government.
- Lease hold for 99 years, which is common in Malaysia
Malaysian 'lease hold' periods are typically 30, 60, 99 years, etc.Condominium about 99 years oldAnd most of them are long-term. Some states have a period of 999 years, which can be called almost freehold. in Malaysia,As indicated by the fact that more than half of the properties are “lease hold” properties, this is a major type of right, with a period set that greatly exceeds the useful life of a typical building."Freehold" and "Leasehold" are handled without much difference.
especially,If the remaining lease term is 50 years or more, there is almost no impact on the property value, evaluation at the time of resale, bank loan screening, etc., "If the remaining term is 50 years or more, there is no impact on the price (National House Buyers Association)." opinion is presented.
In fact, in Malaysia, where "location" is more important than the form of rights, the price of "lease hold" properties with excellent convenience in terms of living and transportation exceeds the price of "free hold" properties that are inferior in terms of this aspect. There is no noticeable difference in the pace of price increases.Depending on the area, the area that is expected to develop in the future is the land of the state government = "lease hold"Therefore, if the lease period is set for a long period of time, such as 99 years, it would be wise to choose based on future prospects and location rather than the type of right, whether for residence or investment.
especially,If the remaining lease term is 50 years or more, there is almost no impact on the property value, evaluation at the time of resale, bank loan screening, etc., "If the remaining term is 50 years or more, there is no impact on the price (National House Buyers Association)." opinion is presented.
In fact, in Malaysia, where "location" is more important than the form of rights, the price of "lease hold" properties with excellent convenience in terms of living and transportation exceeds the price of "free hold" properties that are inferior in terms of this aspect. There is no noticeable difference in the pace of price increases.Depending on the area, the area that is expected to develop in the future is the land of the state government = "lease hold"Therefore, if the lease period is set for a long period of time, such as 99 years, it would be wise to choose based on future prospects and location rather than the type of right, whether for residence or investment.
- リース期間の更新について
In the case of residential "leasehold" properties, unless there is a specific reason for the state government's refusal, such as performing public works,As a general rule, the lease term can be renewed by paying renewal fees.. In addition, the renewal fee paid to the state government is "market price of land x 0.25% x number of renewal years" (approximately 25,000 yen/year for land equivalent to 10 million yen).
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