MAS new cooling measure

[carbuncle]

bro u also got sense of humour like me...

Too bad u married. Hugs

[carbuncle]

ROTFL!!!!
Now I m surfing in a public area, n I can't believe that I actually laughed out loud.
What about da man?

Thats da moneyman.

[carbuncle]

Just fyi, was told to me by a malaysian property agent that u can offset yr property gain tax with agent's com, lawyer's fees n some other household expenditures...
So at the end of the day,its not so bad.. No need to suck thumb afterall..

Here also can offset these from property tax wat.

[fiat500]

Here also can offset these from property tax wat.

Our topic was on property gain tax in MALAYSIA..

[Rysk]

This is typical Malaysia . That's why I never touch Malaysia.

Malaysia is good in roti prata style.. peng lai peng ki..
Even those bought before the implementation of the policy oso kena one..

That's why I dare not touch M'sia also..

[teddybear]

I won't be surprise that if their property market become too hot, they may introduce policy where you (foreign owners) can only sell to locals!
By then, you have to sell to their locals at about half the price about locals usually can't / won't pay >RM300k for a property!

Malaysia is good in roti prata style.. peng lai peng ki..
Even those bought before the implementation of the policy oso kena one..

That's why I dare not touch M'sia also..

[kane]

the locals are already buying properties on the other side of johor at half price. not familiar with the situation in kl and penang.

[leesg123]

I won't be surprise that if their property market become too hot, they may introduce policy where you (foreign owners) can only sell to locals!
By then, you have to sell to their locals at about half the price about locals usually can't / won't pay >RM300k for a property!

no this wont happen. always remember, the people in power or their close ones have vested interest.

remember that in malaysia they have low income housing scheme (my first home), to cater to those in really low income.

[leesg123]

Malaysia is good in roti prata style.. peng lai peng ki..
Even those bought before the implementation of the policy oso kena one..

That's why I dare not touch M'sia also..

can name one such example of policy?

[heehee]

Such tightening has happened before, when from no restrictions to RM250k to prices of properties that foreigners can buy from RM250k to RM500k. This means if you have bought a property for RM499k, you can only sell to Malaysians where majority won't pay so much for a property.

no this wont happen. always remember, the people in power or their close ones have vested interest.

remember that in malaysia they have low income housing scheme (my first home), to cater to those in really low income.

I won't be surprise that if their property market become too hot, they may introduce policy where you (foreign owners) can only sell to locals!
By then, you have to sell to their locals at about half the price about locals usually can't / won't pay >RM300k for a property!

[leesg123]

Such tightening has happened before, when from no restrictions to RM250k to prices of properties that foreigners can buy from RM250k to RM500k. This means if you have bought a property for RM499k, you can only sell to Malaysians where majority won't pay so much for a property.

such tightening occurs when price keeps going up. if you have bought a propety for rm400k, and now the restriction is rm500k, it means foreigner can only buy rm500k and above, so just price your property at rm500k.

[Sleepyhead]

such tightening occurs when price keeps going up. if you have bought a propety for rm400k, and now the restriction is rm500k, it means foreigner can only buy rm500k and above, so just price your property at rm500k.

Sorry... catch no ball... if your property is worth 500k in the open market, then surely there will be willing buyers to pay the 500k asking price regardless of foreign or local?

someone said locals don't buy >300k. I beg to differ. It's almost impossible to find anything in the Klang Valley area that is less than 300k. Therefore the 500k threshold is really no big deal. Locals will still continue to buy from you if the price is right. This becomes a problem if they raise the threshold to 1m. Then you will struggle to find locals to buy from you.

[Laguna]

MAS's stand on the joint borrower...take the age of the younger one or older one.

MAS does not prescribe whether to take the older or younger borrower’s age in the determination of the loan tenure, for a joint borrowership situation. However, MAS has conveyed to financial institutions (“FIs”) that they are expected to assess joint borrowers’ ability to repay loans and use the age taken for credit assessment when applying the rules on loan tenure. Borrowers should be assessed based on their income capability and ability to contribute towards loan repayment. The loan tenure should take into account the borrower’s life expectancy, current and likely future income, and repayment capacity, especially where the term of the loan extends past retirement.

[wind30]

MAS's stand on the joint borrower...take the age of the younger one or older one.

MAS does not prescribe whether to take the older or younger borrower’s age in the determination of the loan tenure, for a joint borrowership situation. However, MAS has conveyed to financial institutions (“FIs”) that they are expected to assess joint borrowers’ ability to repay loans and use the age taken for credit assessment when applying the rules on loan tenure. Borrowers should be assessed based on their income capability and ability to contribute towards loan repayment. The loan tenure should take into account the borrower’s life expectancy, current and likely future income, and repayment capacity, especially where the term of the loan extends past retirement.

same reply I got.

Which is SUPER STUPID. They expect the banks to do proper assessment???? duh... I thought the whole point of this ruling was that the bank cannot be trusted to do proper assessment in the first place. They were giving out like 50 year loans, etc. That is why MAS came up with a ruling. How can you leave it to the bank's discretion??????

This is plain ridiculous. If you want to come up with a ruling, please make it clear and enforce it. IF not, please don't do anything and don't waste taxpayers money.

[teddybear]

Sometimes, I find some comments here are damn stupid.
Govt should just collect & be custodian of all their money and give them stipends since they can't manage their money!
For all we know, those who took up 50 years loans are the smartest Alex!

[wind30]

Sometimes, I find some comments here are damn stupid.
Govt should just collect & be custodian of all their money and give them stipends since they can't manage their money!
For all we know, those who took up 50 years loans are the smartest Alex!

It does not matter whether you think the 50 year loans are smart or stupid.

The point is MAS thinks it is stupid and that is why they introduce the latest CM. But by not making it clear and enforcing it, basically they are making themselves look totally ineffective/stupid. They already feel that they have to step in to regulate the 50 year loans but they do it in such a way which is totally ineffective.

By your reasoning, I am sure you welcome a 2009 US Financial crisis in Singapore too right?? clever boy.

[wind30]

Who moved the thread here? I see a lot of cm threads in the general forum. Almost all cm is about loans etc. once moved here the thread just dies...

This threadis not discussing getting financing but about how the latest cm will affect property prices...

Who is the mod here?

[buttercarp]

Who moved the thread here? I see a lot of cm threads in the general forum. Almost all cm is about loans etc. once moved here the thread just dies...

This threadis not discussing getting financing but about how the latest cm will affect property prices...

Who is the mod here?

If you feel it is unjustified, you can email the admin.

[wind30]

If you feel it is unjustified, you can email the admin.

Who is the admin? Does he posts?

[buttercarp]

Who is the admin? Does he posts?

At the main page, right at the bottom on the right side of the page, click on "contact us" to leave a message.