The absence of strata titles in the Private Lease Scheme (PLS) is indeed a significant distinction. Under PLS, buyers do not receive ownership rights or strata titles, meaning they cannot participate in the management of the property or have voting rights within a management corporation. This contrasts with traditional strata schemes, where ownership is clearly defined, and purchasers hold legal rights to their units. In Malaysia, PLS is limited and primarily seen in specific developments like those in Medini, Johor. The lack of strata titles raises concerns about buyers’ rights and the legitimacy of their investments, as they are essentially treated as lessees rather than owners. This situation has led to legal debates and public scrutiny regarding the implications of such schemes on property ownership rights and management responsibilities . Developers maintain that PLS is a valid legal arrangement, asserting that buyers have exceeded the time limit for legal action. However, legal experts and affected buyers contest this, emphasizing that PLS may contravene existing laws like the Housing Development (Control & Licensing) Act 1966. Isn’t it UA-camr is not telling the truth as they or their developers may not fully represent the complexities and legal challenges surrounding PLS.
@@pgobservers there is individual strata title finally issued 10 years after purchase. It says Iskandar investment Berhad is the owner of 10 thousand houses and apartments in johor Medini. If I were to buy an apartment with a mortgage, I expect to be a proud owner on the strata title. Not a freaking tenant
the strata title says IIB is the land owner and the buyer has a 99/129 year lease on the property with a start date and end date. Which is basically a private lease
@@AlphaMarketingSGin singapore, the Far East private lease will have the unit buyer’s name stated as owner. It doesn’t say Far East. Don’t tell me it’s the same in johor.
The potential challenges in converting Medini from leasehold to freehold include: 1. Regulatory Approval: The conversion requires approval from state authorities, which may be hesitant due to the unique nature of the Private Lease Scheme (PLS) and its implications for land ownership rights. 2. Legal Framework: Existing laws may not adequately support such conversions, necessitating amendments to legislation like the National Land Code and the Housing Development Act. 3. Stakeholder Consensus: Achieving agreement among various stakeholders, including developers and current leaseholders, can be complex, especially if there are differing interests regarding property rights and future developments. 4. Financial Viability: The economic feasibility of converting leasehold properties to freehold may be questioned, particularly if it impacts property values or investment returns 16:13
its still boils down to one thin in boleh land and this clown trying to smooth things out - the prata way of doing things never ends. when anwars goes out, you see what this property goon is gonna sell you later.
Under the Private Lease Scheme (PLS) in Malaysia, properties cannot be willed to beneficiaries upon the buyer’s death. Buyers are considered lessees rather than owners, meaning they do not have full ownership rights. Consequently, the lease does not transfer to heirs, and upon the lease’s expiration, the property must be returned to the developer or lessor. This lack of inheritability is a significant concern for buyers, as it undermines their investment and potential generational wealth from property ownership 16:13
@@AlphaMarketingSG The claim that properties under the Private Lease Scheme (PLS) can be willed to beneficiaries is misleading. While technically, a buyer can include a PLS property in their will, the legal reality is that the property does not confer ownership rights. Buyers are considered lessees, not owners, meaning they do not have the right to pass on the leasehold interest as an inheritance in the same way freehold properties can be inherited. Upon the death of the buyer, the lease typically reverts to the developer or lessor, and beneficiaries would not gain ownership or control over the property. This lack of true ownership and transferability is a fundamental issue with PLS, highlighting its limitations compared to traditional property ownership, where heirs can inherit and maintain control over the property indefinitely
There is currently no official confirmation from Iskandar Investment Bhd (IIB) regarding the conversion of Medini properties from leasehold to freehold in 2025. While there are discussions about potential conversions, such decisions would require approval from the relevant state authorities. The process involves multiple stakeholders and regulatory considerations, making it uncertain whether IIB will pursue this conversion in the specified timeframe. 16:13
Makes no sense that they would just give away the land. On IIB website they had explained back then why they dont want this land falling into foreign hands. So what has changed?
@@kuankeattan4501property in JB is typically not good for investment unless it's in prime location. There's too much land available and developers keep building new developments nearby which keeps the price low....but only for own stay...
Converting Medini to freehold may encounter several legal hurdles: 1. Existing Legal Framework: The current Private Lease Scheme (PLS) is governed by the National Land Code and other regulations, which may not support such conversions without significant amendments to existing laws. 2. Ownership Rights: Under the PLS, buyers are considered lessees rather than owners, limiting their rights and complicating the transition to freehold ownership. This status creates challenges in asserting ownership claims during conversion efforts. 3. Regulatory Approval: Approval from state authorities is essential for any conversion, which can be a lengthy process involving multiple stakeholders and potential opposition from various parties. 4. Legal Precedents: Previous court rulings have highlighted issues with leasehold agreements and misrepresentation by developers, which could complicate future conversions if similar disputes arise. These factors collectively pose significant challenges to converting Medini properties to freehold status.
I have personally spoke to the representative of Iskandar Investment Berhad. The party has agreed with freehold conversion plan and is currently working with state gov and land authority in finalising the workflow for the property owners. You can expect official announcement by the state government soon.
On top of the legal processess and regulatory approvals, conversion from leasehold to freehold will entail payment of hefty land premiums by the unit owners.
It might become an issue if the current opposition party of Malaysia, PAS uses it as an issue to viral it as Malaysia Gov selling Tanah Malaysia to Singaporean and China Citizen. Recent case in Pahang Malaysia which a China origin, local setup company bought a piece of leasehold land for industrial use being criticized by them as selling Malaysia land to foreigner and the Pahang Chief Minister has to make a public announcement to clarify the issue for the Public. 3R is here to stay and don't be surprised when there is a policy amendment happening due to Political Needs. Welcome to Malaysia!
@@dylansim4717 Not necessary. Using logic, if I say "If you are male you are male, please like this video". That doesn't mean female cannot like this video.
Thanks Ryan for taking time to do this video. Shame on those that report on news w/o conducting proper research and analysis. As usual… spread fears. 🤣😂
Hi Ryan. I think the truth is that some agents may not even know the difference between PLS and Leasehold. Case in point: at one time, I almost bought a duplex at Elysia Park Residences in Medini. During the viewing, I was told by at least 3 agents that it was a 100+ years leasehold property; and never once did any agent told me it is a PLS property....so I can totally understand the unhappiness of the owners as it seems they have been "cheated", even if practically, there are very little differences btw PLS and leasehold. In fact, I actually paid the booking fee for Elysia Park Residences, but finally decided not to buy a "leasehold" property and bought a freehold condo at Paragon Gateway instead...
Can't say SG 1st world country and all people educated. Lots of old folks still not very techy and subject to scams in an sheltered politocal environment
Considering all the negative publicity, it is timely for Iskandar Investment Berhad to issue a statement clarifying exactly where buyers of these projects stand. There seems to be confusion about whether can sell or rent out. But I know of someone who rented out her One Medini unit then sold it. It is confusing when the info put out is contradictory.
Not sure if IIB will say anything. But ya if you have already seen people sell/ rent Medini properties, you have practically all the major rights any owner would have whether you prefer to be called owner or lessee
Yes. You were the one marketed D’Pristine. What a rubbish strata title you talking about ? The strata title owner name is IIB. The purchaser name will be printed as “others”. So as the developer name. That is only a piece of paper you are holding. Not strata title under purchaser name. Don’t tell lie.
@@AlphaMarketingSGyour Ryan was talking about grand medini strata title. Ask him to check the doc properly. Don’t make yourself a clown here. That so called strata title that he own, clearly stated owner : IIB. Record urusan: Grand Global. And purchaser will be recorded as “others related to ownership matter”. Does this call strata title ownership ?
@@Sunshine-zi4nq your name as purchaser will record in that paper as “others “ column. Not as “parcel owner” column. The parcel owner in the strata title printed IIB as owner. That is what CNA news was all about. Whether or not you were told it was a private lease, how do you expect a layman people understand what the agent or lawyer asked you to sign for the fact that in Malaysia, you signed 2-3 booklet of doc ranging from loan doc , deed of mutual etc. moreover, the lawyer who did the conveyancing was acting for dev. And they gave you incentive to sign direct with his lawyer and not engage your buyer lawyer. This was a trap. Adding to this , these Singapore agents were also not educated on private lease. So as Malaysia agents.
@@PeterLee-v5s the strata title says that IIB is the land owner and the buyer has a 99/ 129 year lease on the property with a start date and end date. Which is the private lease we are talking about. So you are concerned you don't have any rights based on this title?
I think what you have mentioned that is little difference between buying under a leasehold versus a private lease is hardly different. To that I must contest, it is vastly different. Malaysia accepts the UK law, as Singapore does. And the tenure for land is only Leasehold or Freehold. Anything not freehold is leasehold, year 2 subject, LLB, Land Law. Tenure is about ownership of land and the length of time you own the land. A private lease however is not a proprietary ownership, and it is a lease- a holder of a lease versus leasehold- a holder of land as a owner for a lease term. In essense as per the CNA article and other law experts have expounded, lease owners are not owners per se. I do not think this is a comparison to HDB, it is not similar at all. HDB owners are owners, as per gov and hdb.gov, and official statements on the national status quo on ownership of hdb that has been clearly communicated is not something to be trifled with. A lease is a lease, landlord and tenant. I assure you that Malaysian Lawyers, my classmates, Seniors, and all who have done the LLB will be able to state this difference. In essence, a leasehold proprietary owner, and a owner of a lease is not similar, not legally, not in form, but prima facie, on the surface for practical reasons might appear to be similar. I do like your content and I have learnt things I would not, but when it comes to legality, you really need the proper knowledge to speak on this issue. Thanks for putting up content. Appreciate it, cheers.
@@Sunshine-zi4nq I think the articles have been quite informative. Although I find it is best to get legal counsel and not rely on social media and videos to be educated. I have known youtube lawyers(they claim to be lawyers) who make videos and don't know the difference between joint tenancy and tenancy in common and say JT is 50/50, when it means both co-owning the property 100 percent at the same time, hence the doctrine of survivorship. As per rights, I was not privy to the agreement, and only the relevant parties will be able to show what the terms and conditions were, the clauses that they agreed to. If it was spelt out in the purchase agreements, and both lawyers, buyers and sellers(developers) found the documents satisfactory then I doubt there will be a case to answer. The courts will most definitely not protect a fraudulent scheme, but having said that this is a 10 years issue that the "purchasers" have not had issues with, hence maybe deemed to have accepted the status. The statute of limitations to raise issues with the contract has also lapsed. In short, For a leasehold, you have proprietary rights, for a lease, you are a tenant, it is quite clear that these rights are different, but one must still revert to what has been signed. For a contract to be binding, you need an offer, acceptance, consideration, intention to create legal relations, and if these elements are found, then the contract is deemed legal. With all cases brought before the courts, the final person to decide on the issues is the judge, hence the need for lawyers, courts, judges. Meantime, one would be keen to see this case and the judgement, that will form case law.
Was the scheme clearly described in the SPA? May I ask why you chose to buy into Medini when you could have bought FH in JB town area or Bukit Indah at lower price?
@AlphaMarketingSG but despite all that development is very slow. Compared to Eco Botanic nearby there are hardly any amenities. Even if it is Freehold, it wont do well unless there is development.
@@blesseddc5093 yes Eco Botanic has done very well. But you dont have to live in Eco Botanic to go to Eco Botanic. Medini represents a lower entry point to living in that area without paying Eco Botanic prices
Chances are low, because this a leasing contract not property sales and purchase. If you see from the news most of the victims mainly purchases property which cost less than 1 million ringgit unless the victim willing to top up to 1 million for the S&P to fulfill the minimum Foreigner property ownership rules by the Gov the chances a low.
Malaysian land ownership or strata title are governed by the state government. The head of state government ie state chief minister has full authority to decide on state land issues. As for the conversion, if all conditions have been fulfilled as per land law, chief minister will sign the land conversion upon the advice of district officer or pegawai tadbir in Malay. Of course, legal procedures must be adhered with, just get a malaysian lawyer for advice.
99 year lease from government and from private company is different. By the time closer to the lease expiry, it is more likely that for the government to extent the lease with top up as there are more of such government leases and they need to look at the general interest of the public. This is not the case for a private developer.
Gong wu gong bo . It seems like Ryan also doesn't know what is is talking about.moral of the story is NEVER BJY any Malaysia property, and dont trust any agents including Ryan because all they want is more people to buy the over supply property in Malaysia so they can earn their big fat commission
What is the difference between the PLS scheme and traditional leasehold properties? PLS is a private sector creation that is essentially a contract between a seller (lessor) and buyer (lessee) with no guarantee of lease renewal or extension at the end of the lease period. A traditional leasehold property is governed under the National Land Code, with an option to either renew or extend the lease. Therefore, a PLS buyer could possibly end up with nothing at the end of the lease period.
He is just trying his best to defends Malaysia policy. If anything go south, he will be scared no singaporean will invest in Malaysia. Local malaysian are smart will not buy condominiums. Either the locals will prefer landed or freeholds with local price. Sinngaporeans only can buy inflated housing.
Singapore and Johor economy is so intertwined. There is no real reason to get scared one haha. There will always be people with a need to buy and there is a reason why both governments are doing the special economic zone coming up soon. Singapore and Malaysia both have lots to gain working together and leveraging the strengths. We should really avoid all the mudslinging between each other
@@AlphaMarketingSGI agree. But Foreigners cant trustnMalaysia due to lack of transparency and the way things are implemented. Just look at VEP. What a mess. The SEZ cant take off if this is how things are done. In this case, seems there was lack of transparency about the scheme.
super clear explanation. Pity that CNA did not FULLY leverage you for your opinions as the journalists/reporters from CNA are not subject matter experts.
he is talking nonsense and waiting to sell more johor properties. He isn't aware that only owners as defined under strata mgmt act can attend AGMs, isn't aware that getting consent whenever you want to sell your property from IIB isn't the same as HDB, and that bank financing can dry up completely for PLS due to its complexities.
@@kamkahken all property agents are the same, all sing the same song in order to sell more property to you. You lose money years later is not their problem
'@@kamkahken If anytime during the interim when strata title deeds are not yet obtained, the developer were to go bankrupt due to mismanagement or corruption, what would happen to this so called "tenants"? A critical point to think about.
yes technically if a developer goes bankrupt, then the liquidator will have to continue working arrangements including strata title application. Of course this complicates the situation
This type of thing don't ask here, will affect property business one. Also don't talk about MRCP pulling out of HSR and causing financial troubles to the project, otherwise everyone will give up buying liao. We need everyone to BUY...so only say GOOD things here. Can? This is a property sales talk / marketing, not for informing potential buyers about the problems they will face after buying. For that they need to do their own homework. Otherwise, next time even if they cannot enter their own apartment after buying cos no visa and have to pay taxes also become our baby. As sales people, we only say the good stuff, and if want to say bad stuff then it is only about other agents/projects, not ours. Get it?
@@AW-tc4hy I am sure we love the maintenance of old buildings in Malaysia. Iskandar investment berhad is a JV between Khazanah, EPF and johor state, and NOT federal govt. Go check out old govt buildings in KL and ask if you will delegate the mgmt of your property to a state entity
@AlphaMarketingSG can owners sit on the committee and make decisions? Has there been any interference or involvement from Iskandar Investment Berhad in the JMB of your condos which have been issued strata title?
Hi Ryan, I recall when i signed a JB property purchase, the whole contract (which is about 50 pages thick) is in Malay and not English. So that creates a barrier to read and understand the whole contract properly let alone fine print. What the lawyer did was just to translate and highlight some important points in the 50 page contract. Am i correct?
Sales & Purchase is confirmed in English. Some government forms may be in Malay but the legal contracts that the banks/owners/developers hold will be in English
@@choonsengteo9694 80% of singaporeans live in HDBs and HDB is an entity that can issue near sovereign yield type bonds in Singapore. Meanwhile, in johor, only 10k houses and apartments were sold in Medini. Out of population of 30 million plus. Iskandar investment Berhad will not be able to issue any bonds due to lack of standing
Everytime I got the urge to buy a car in SG, I will buy a condo in JB. Same price and no need for loan or ABSD unlike in SG. Now I feel like buying an EV with all the hype, and thanks to this video, I am considering to buy another JB condo instead. Should I? I will be honest I can never afford a condo in SG as I cannot even save S$500k in cash for the down payment. I really wonder where people get the money from.. my income doesn’t qualify for subsidised housing but I feel like I am never going to be rich enough to afford a condo in SG.
Disagree, you can't expect everyone that invests in foreign countries to be educated. The CNA video already illustrated that the agents that marketed the product deliberately did not provide full info. Feel that you're abit biased tbh. But still, appreciate the video
Thank you. Whether there is misrepresentation or not let the court/ authorities go hash it out. I think we have to listen to other side of the story as well
11:10 u said that if these buyers dunno what they are signing then it is very sad… My response: well, u can say that is true for 1buyer vs the developer then yes u can say that.. but here i heard all 68 owners comes together to sue the developer together then do u think 68 all collectively, at the same time don’t know what they r signing. I also read that in 2020 this similar court case where 100 owners are involved vs the developer and the court ruled in favour of the homeowners. With such large numbers, it appears that sales was quite a scam is a higher probability likelihood than the “the buyers did not read properly” that u claimed. How about the marketing agents? Well all have collected their fat commisions. It is not their problem anymore lol
Maybe the agents/ developers are at fault since they are sue-ing for misrepresentation. Like I covered in my video, I am not part of that marketing process in 2014 for Iskandar Residences. But I know for a fact that when you buy a Medini property, there is a separate trust/ lease document. It is not like the "lease" word is hidden in the purchase documents. To me if you didnt read that, you likely didnt read alot of things
Why no reports or official news if it is true? Also why would they convert it? Does it benefit the govt or IIB? I thought they want to hold on to the land since it is an area with mostly foreign buyers .
TQ for your briefing and insights on Condo purchases between PLS and Leasehold! Q. - when the Strata title is issued under a PLS, who will be the Strata title owner? The lessor ( developer in this case) or the lessee (purchaser in this case)?
@AlphaMarketingSG That means, at the end of the lease, say 99 yrs, the ownership of the Strata title reverts to the developer? Correct me if I'm wrong.! If the lease is renewed for a further say 66 yrs lease, the lessee will Not be entitled to this 66 yrs lease under the PLS? You did not mention whether the Strata title is in lessee or lessor 's name?
@@lindc1070 who is IIB? Where does he come into the picture? After say - 15 years, the Strata title is issued! In whose name will the Strata title be issued?
As Singaporeans. Properties in MY is never an investment. No matter how much ppl tell u otherwise. They have their own agendas. Bottom line as rule of thumb is never an investment.
Not easy to understand even you read page 1 to last page when you are not legal train. Most time we listen and trust the agent told us. Don’t laugh when you said when you signed but don’t know what you signed. People signed because influence by the agent.
I have been long wondering for many years, why there is such attractive offer from Developer where the property which cost less than 1 million ringgit and "foreigner can buy" ? Now all comes to light, there is a scheme called Private Lease Scheme which some developers out come out to circumvent the Minimum 1 million dollar property value for foreigner Restriction. Thus under PLS contract, you are leasing, you did not purchase the property and do not have to follow the minimum 1 million ringgit rules. There is a high risk out there for the unsuspecting buyer, where legally you are not owning the property, and resale value will be bad.
hhmmm... everything has a catch? but if you buy to stay/ enjoy the property (like how all property should be actually), its not a bad deal. $275k get a 1100sqft condo with nice facilities in Iskandar Residences, how to get that living space at that price in Singapore?
*You can scream and shout until the cow comes home... but the outcome is what is actually written in the agreement... BLACK AND WHITE. You can sue you agent, your lawyer but the Developers will be singing happy song to the bank... 😂😂😂*
That’s why this class action suit have to sue. The other 10k houses and apartments are not asked to pay stamp duty and discovery all of them are owned by Iskandar Investment berhad. 100%.
Actually PLS is HDB flat in Singapore context Property of HDB Anything u wanna do mus hv HDB consent, eg rent, airbnb, 1:99 etc otherwise HDB can repossess your flat
@AlphaMarketingSG thats the only difference cos our gahmen wants to control everything, everything is under control & regulated in Singapore, they do not allow private or individual to do monkey biz Other than that, the theory is the same
be fair to Ryan. He's not lawyer and he's not representing any parties. He's giving his views which you can choose not to listen. And yes don't listen if you intend to buy properties and it is your own due diligence to do your own homework and responsible for your own action. Are you going to blame Ryan if things have gone wrong?
@@AlphaMarketingSG As mentioned in my earlier comment, it sounds like you are giving your opinion and using words like quite sure or normally make me feel that your opinion is not to be take seriously.
@@dachee as candytan was saying, to be fair, he is a property owner with experience, sharing his experience and what he knows. He does not say he is a lawyer with a LLB. So if one relies on representation as such, then it is to one's own peril. There are many speakers, facebook pages, blogs, videos, portals, books that speak on real estate, but how many have the necessary credentials to speak on them? Still it is taken as advice. If one could attend online available videos and talks and become an expert, then law school, the rigors of exams and lectures and grades would be redundant. I have enjoyed his videos, but I also have a legal background so one has to exert due diligence, as per the proverbial statement, caveat emptor.
At 9.11 min of your clip, you mentioned that that buyer can get strata title for their units in Medini. Can you clarify and be accurate if you are refering to those condo units under PLS getting strata title? From my understanding of PLS, there is no strata title since it is a lease. According to Strata Titles Act 1985, only the Registrar (defined generally as State Land Office) can issue individual strata title to buyer.
yes there is strata title for PLS condos. As I mentioned, at least 2 or 3 condos have already have strata title issued. Strata title issued by land office
Some developments have received it , that is what I heard. Some I know for a fact are in process. Owners have signed Perfection of Transfer documents. But I think it is Transfer of the Lease since it it leasehold. However, CNA wasnt correct in saying cant rent without permission. Many owners in Medini are renting out.
There is obviously a lack of transparency couple with the intentional non disclosure of material facts at the point of execution of the S&P? There is no logic for a purchaser esp. a investor to buy a property under this so called " PLS" arrangement? Makes no sense to any common investor/purchaser with average intelligence. There is some element of fraud by the developer/property agent when promoting the sale of PLS properties in the given circumstances? 😮😅
@@AlphaMarketingSG strata title issued to whom lessee or lessor or some third party in a tripartite S&P Agreement? You are evasive to answer this question?
@@leechaising6131 the strata title mentions the land owner is IIB and the purchaser has a 99/ 129 year lease with a start date and end date, which is basically a what the private lease is.
PLS is worst off than leasehold. Private developer, not govt entities, if in financial difficulty will get leassee into troubles. Leasee have not rights in property general meeting etc. Never ever buy a PLS development, especially from private developer.
sort of depends who the PLS original owner is right? In Medini case, IIB is actually owned by the Malaysia government. In Singapore, so far has been Far East and CDL.
I think you did not explicitly point out the difference between a "leasehold" and the "PLS" scheme. You need to get a lawyer to explain this difference.
@AlphaMarketingSG PLS scheme do not have ownership rights to the property. In a normal strata leasehold, buyers have the ownership rights for the lease term of the land. So, if you do not have ownership rights, you basically are not allowed to rent or sell the property without the consent of the owner.
@@ThePropertyBeanyour explanation here is way better than the entire 17 minutes video. Ryan doesn't seems to know what he is talking about and it's so obvious that now he is scare so he is trying to create this video to form a false positive sentiment illusion
hdb is a statutory board and Singapore credit rating is AAA. PLS is private . private gov link in Malaysia don’t have a good reputation . Always get from reputable developer in Malaysia. I sold my medini flat last year. No problem. I upgraded to a leasehold landed at the same time by Sunway.
So obvious jb learn from sg hdb , "" owner "" of hdb are actually not owner are actually tenants not owner , u buy a tv u dontbreturn bevause u own the tv but if you have to return the tv means you only rent and dont owned the tv , hdn brain wash , mislead u into believing thatbu are owner when u are nof .
i heard that 1) it cost really a bomb to hire one… Ok never mind, lets assume buyers really hired one, say pay SGD9k to buy a SGD250k ‘freehold’ apartment… I heard of cases where the developer can contact that ‘independent’ lawyer that u have hired and bribed him to give u a rosy picture.. Welcome to bolehland
Hello, look Into your own backyard, Spore. There are pte land whc have this feature la. Wait till u hear this. The HDB flats are all PLS ie Public Lease scheme. Same principle - no land ownership, 99 Yr lease of airspace hoh. End of 99 yrs, land reverts to HDB ie the govt, value $0. Where will be Yr cpf retirement fund and whole life savings? Sporeans should be worried over this than something that is similar overseas. The kicker is the Spore one is a massive one affecting 85% of the population. And same thing - Sporeans hv been sold the idea that they are owners when they have no land ownership.
Regulated so what? The same fact is that the land don't belong to the "buyers" who essentially bought the 4 walls fr 99 years, thinking they own the land for 99 years.
The same thing for the Malaysian PLS. It was printed and the purchasers went thru LAWYERS. No? Pls dun smear others when u don't do your own diligence. Period. How about blaming the Pap gvt for " conning" Sporeans over buying the HDB where they actually bought the 4 walls, and Nothing of the land?
U talking nonsense Hdb different from private company. Hdb is not able to go receivership yet developer as company could be . So what happen if developer gone receivership especially it is so common in Malaysia as 家常便饭 kind
@@AlphaMarketingSG leasehold in sg the buyer has the strat title, where got problem. But for PLS then, once developer goes under, then, the lease would revert back to developer creditors , then, those Naive tenants would be in trouble as the leasing agreement was with the bankrupt developer. No obligation from the creditors side. u are not well informed in financial tecnically leh
@@AlphaMarketingSG Under leasehold ,the buyer has the strata title even if developer were to gone down. But for PLS in JB, the buyers are just mere tenant without owning any strata title, so once the devleper gone down, its creditors would take over all assets of the said developer, but no obligation to hold the lease of tenants. Its like u rented a condo from main tenant as this main tenant is leasing from the condo owner. u are the sub tenant and both main tenant and sub tenant do not have strata title. So what happen when the owner of the condo went bankrupt and the condo revert back to owner creditor bank? the bank does not have obligation to continue to lease to main tenant for 99 years. This is call 3rd party contract of which go nothing to do with creditors . u are young and technically no sound..
@ yes, I don’t deny. It means what i heard can be true, can be false. I dun say i confirm… Similarly your “quite sure that…” “normally..” are of similar nature… Anyway i dun really fancy malaysians here enjoying the fruits here, and no need to do singapore national service and can buy cheap cheap jb houses where foreigners can’t … that is why many malaysians here don’t want to take up citizenship.. there r a large numbers here.. i think around 1m malaysians working in sg, out of 6m population… one day if sg has any pooblem, all run back to malaysia.. i dun fancy poverty agents holding both sg and my licence, 1 leg step 2boat
🤣the motivation for the CNA JB hit-job is summed up by their own opening line "Analysts say Singaporeans are among the top buyers of property in Johor Bahru, which has seen prices jump in the first half of this year." CNA is well aware of SG herd mentality and their propensity to read only headlines and opening statements, thanks for addressing this, buyers should compare apples with apples, this video explains PLS well: ua-cam.com/video/1D1Atr1SnTk/v-deo.htmlsi=lDLNgpW69SaY8odJ
Buyers beware at the end of the day. It is more of Singaporean kia-Su spirit is playing up. Personally I don't believe they don't know the T&C of the contract, you are buying houses not buying shoes.
Nothing is free (private lease or leasehold to freehold conversion); buying cheap and good are mutually exclusive concepts when it comes to Malaysian properties,
Can check with you whether it is common for freehold condo owners to wait a long time (up to a year) to receive title deeds after transfer initiated at the land office? TIA
@frankauerbach yes, strata title issuance is a fairly complicated process and unfortunately this may take years yes. Best to get periodic update from developer on progress
Can the buyer of PLS get the title deeds in their own name after they pay up to mortgage? I know HDB can, as i got my deed... if PLS cant, then it is not the same as HDB.
@@AlphaMarketingSG under PLS, does owner get the title deeds under their name after they fully pay up the mortgage.. this is my qtn and it is a yes or no answer
@kelvinyeo2047 it's not exactly the same legally, though in practice a leasehold and lease owner will enjoy usage rights same. The only difference is who is the original land owner after the lease is completed
@@AlphaMarketingSG why would they want to sell as PLS and not leasehold in this case? we cannot ignore legality of ownership is a very important factor. if a change in lease title to freehold by gov, who will benefit in PLS and leasehold owner respectively?.
@@kelvinyeo2047 leasehold has to be from government, PLS is from a private entity (even though in this case IIB is owned by the government). The title is already freehold
Didnt Mah Sing have a court case too, legal action by Meridin buyers? Perhaps you can do a video on that. The buyers won the suit but Mah Sing is appealing
Should Medini turned freehold, logically it will only benefit the original private land owner as those condo buyer would still be on Private lease. Isnt it?
gross mistake over pls scheme. 1. Loan issue. As like tenant of yr house. Instead of tenant paying monthly rent to u. This private lease scheme is paying one lump sum for yr lease years 99 yrs. So would u allow yr tenant to take loan and use yr property as mortgage ? Answer would be NO. So the buyer would have to either pay cash or personal loan. 2. As the title belongs to the developer not u. What if developer went receivership ? Just like the house owner sold their house and he would break lease with tenants and pay the terms penalty only.. So ends up u lost the house u thought u owned.
You can get financing for PLS properties. A number of banks do it. Even a charge can be placed on a 99 year lease, charges doesnt always have to be on freehold titles
I think yr info is misleading on bank loan. Banks make loan on this kind of leasing property is different from ownership mortgage. Why? Bc its common sense to the bank that when Borrower didn't pay mortgage,then, bank is able to sell the property in the market. But for PLS , how would the bank sell as the property title not of borrower? Technically the loan u mentioned u are missing some facts for sure.
Matters of facts is that there are just too many of this hidden causes that are not beneficial to the buyer.. another case of buy at your own risks foreign property. 🙄🤣
If PLS buyers are not the owners and belongs to the developer, should these buyers of such properties pay property tax, sinking fund and maintenance fees? Since in principle they are lessee 😮
Are you sure that the conversion of land titles to Freehold will change the terms and conditions of PLS? I believe the PLS sits on top of the title tenure/type, and a change in the latter does not directly change the PLS.
So that it benefit the developer and not the PLS buyers. Unless the PLS document state the 99 years lease will change when the developer lease from IIB changes@@AlphaMarketingSG
Yes. That would be the correct interpretation. if you're only leasing the unit, the underlying status of the development will only directly benefit the legal owner..
@@cheonglaimeng6445 the underlying land is already freehold. So now what will happen is they cancel the PLS and give you ownership over the freehold status as well.
Rent has gone up recently. No need to get permission or approval to rent out . I believe Medini is popular with Malaysians working in Singapore. 2 bedrooms are getting over 2.2K now.
JB Private Lease Scheme 99year noting wrong, need consent oso nothing wrong. COMPARE sg gohmen public housing HDB mllion$$$$ price and is same 99 yr , and is oso need consent
Much clearer than CNA or other UA-cam reaction video on PLS. Many only know freehold and leasehold but have no idea on PLS. If finally Medini is converted to freehold, it would unlock the value of the property because it’s not easy to get freehold property in Malaysia. Freehold property fetch preimum price.
Hi Ryan, thanks for the clear explanation on the difference between PLS, leasehold and freehold. I have a curious question though. If Medini area will be converted to freehold title in future, do existing owners of properties there need to pay any charges/fees for the conversion? If there no need to pay any extra charges/fees, wouldn't it be unfair to future buyers who need to pay more for a freehold title property there? And also for owners of properties on freehold title elsewhere in Malaysia who would have paid more? I am not speaking because of feeling like sour grapes, just that I think there needs to be some fairness in carrying out policies by the Malaysian government. If not, it is very difficult to convince investors that they are investing in a country where policies are clear, transparent enough and fair.
@jeremyow7283 existing owners will have to pay a small legal fee to do the conversion. Whether that affects the price or not is also determined by other market forces but logically a freehold will be valued more than a leasehold/PLS. I'm not privy to the full reasoning behind allowing this conversion, but in part it should be to also spur more interest/growth in the Medini area, can watch my earlier video on Medini. If something needs fixing, fixing should happen. Policies need to be tweaked if they don't work out
This is to be considered as Scam to my opinion Under leasehold ,the buyer has the strata title even if developer were to gone down. But for PLS in JB, the buyers are just mere tenant without owning any strata title, so once the devleper gone down, its creditors would take over all assets of the said developer, but no obligation to hold the lease of tenants. Its like u rented a condo from main tenant, as this main tenant is leasing from the condo owner. u are the sub tenant and both main tenant and sub tenant do not have strata title. So what happen when the owner of the condo went bankrupt and the condo revert back to owner creditor bank? the bank does not have obligation to continue to lease to main tenant for 99 years. This is call 3rd party contract of which go nothing to do with creditors .
no thats incorrect, the PLS is from the original owner IIB to the buyer. Unless the unit is unsold then it still belongs to the developer. The developer is not the owner of the land either.
@@dachee it’s a sale and purchase agreement signed under schedule H of the housing development act. It’s a standard for new strata construction in Malaysia. However, in true Mickey Mouse fashion, we have a lease agreement attached to it between developer and land owner as well. Read your SPA like a wise broker who want to sell you shit, they say
@@tannie1111 so u r saying sellers n agents can do anything n the buyers brcome scapegoats.is there no professional ethics.is it cowboy town i suppose.
Ya because whole of Malaysia, there is only PLS in Medini. So in hindsight is a method that turns out not to be well accepted ultimately and created all this confusion
The absence of strata titles in the Private Lease Scheme (PLS) is indeed a significant distinction. Under PLS, buyers do not receive ownership rights or strata titles, meaning they cannot participate in the management of the property or have voting rights within a management corporation. This contrasts with traditional strata schemes, where ownership is clearly defined, and purchasers hold legal rights to their units.
In Malaysia, PLS is limited and primarily seen in specific developments like those in Medini, Johor. The lack of strata titles raises concerns about buyers’ rights and the legitimacy of their investments, as they are essentially treated as lessees rather than owners. This situation has led to legal debates and public scrutiny regarding the implications of such schemes on property ownership rights and management responsibilities .
Developers maintain that PLS is a valid legal arrangement, asserting that buyers have exceeded the time limit for legal action. However, legal experts and affected buyers contest this, emphasizing that PLS may contravene existing laws like the Housing Development (Control & Licensing) Act 1966.
Isn’t it UA-camr is not telling the truth as they or their developers may not fully represent the complexities and legal challenges surrounding PLS.
@@pgobservers there is individual strata title finally issued 10 years after purchase. It says Iskandar investment Berhad is the owner of 10 thousand houses and apartments in johor Medini.
If I were to buy an apartment with a mortgage, I expect to be a proud owner on the strata title. Not a freaking tenant
the strata title says IIB is the land owner and the buyer has a 99/129 year lease on the property with a start date and end date. Which is basically a private lease
@@AlphaMarketingSGin singapore, the Far East private lease will have the unit buyer’s name stated as owner. It doesn’t say Far East. Don’t tell me it’s the same in johor.
The potential challenges in converting Medini from leasehold to freehold include:
1. Regulatory Approval: The conversion requires approval from state authorities, which may be hesitant due to the unique nature of the Private Lease Scheme (PLS) and its implications for land ownership rights.
2. Legal Framework: Existing laws may not adequately support such conversions, necessitating amendments to legislation like the National Land Code and the Housing Development Act.
3. Stakeholder Consensus: Achieving agreement among various stakeholders, including developers and current leaseholders, can be complex, especially if there are differing interests regarding property rights and future developments.
4. Financial Viability: The economic feasibility of converting leasehold properties to freehold may be questioned, particularly if it impacts property values or investment returns 16:13
@pgobservers this is a ChatGPT answer ar?
its still boils down to one thin in boleh land and this clown trying to smooth things out - the prata way of doing things never ends. when anwars goes out, you see what this property goon is gonna sell you later.
@@AlphaMarketingSGI don’t use that for information. I rely on reliable sources but UA-cam wouldn’t allow commenters to include links to sources.
@pgobservers you can just post the link here why not
Hi Ryan, u mentioned that all medini PLS projects Will be converted to freehold in 2025. Is this true?
Under the Private Lease Scheme (PLS) in Malaysia, properties cannot be willed to beneficiaries upon the buyer’s death. Buyers are considered lessees rather than owners, meaning they do not have full ownership rights. Consequently, the lease does not transfer to heirs, and upon the lease’s expiration, the property must be returned to the developer or lessor. This lack of inheritability is a significant concern for buyers, as it undermines their investment and potential generational wealth from property ownership 16:13
@@pgobservers why cannot will to beneficiary, you can
@@AlphaMarketingSG The claim that properties under the Private Lease Scheme (PLS) can be willed to beneficiaries is misleading. While technically, a buyer can include a PLS property in their will, the legal reality is that the property does not confer ownership rights. Buyers are considered lessees, not owners, meaning they do not have the right to pass on the leasehold interest as an inheritance in the same way freehold properties can be inherited.
Upon the death of the buyer, the lease typically reverts to the developer or lessor, and beneficiaries would not gain ownership or control over the property. This lack of true ownership and transferability is a fundamental issue with PLS, highlighting its limitations compared to traditional property ownership, where heirs can inherit and maintain control over the property indefinitely
@pgobservers you own the 99 year lease and it is transferable to heirs
It can be willed to beneficiaries, lawyers in Malaysia have confirmed this
The agent did not disclose the true to
The buyer
its an ongoing court case
Then why u comment on this issue if u say it’s an ongoing court case. You sold these units to Singaporeans? And you have a stake in this property?
There is currently no official confirmation from Iskandar Investment Bhd (IIB) regarding the conversion of Medini properties from leasehold to freehold in 2025. While there are discussions about potential conversions, such decisions would require approval from the relevant state authorities. The process involves multiple stakeholders and regulatory considerations, making it uncertain whether IIB will pursue this conversion in the specified timeframe. 16:13
@@pgobservers watch out the progress in 2025
wait till 2025 then talk
Makes no sense that they would just give away the land. On IIB website they had explained back then why they dont want this land falling into foreign hands. So what has changed?
@blesseddc5093 help Medini do better
Never invest in prata land,high risk low return !
@maywang2472 thank you for your useful comment
I got 10x return on my oil palm company 👍
Canai land 😂
Stay in Kiasuland 👍
Land acquisition compensated with one dollar.
@@kuankeattan4501property in JB is typically not good for investment unless it's in prime location. There's too much land available and developers keep building new developments nearby which keeps the price low....but only for own stay...
Converting Medini to freehold may encounter several legal hurdles:
1. Existing Legal Framework: The current Private Lease Scheme (PLS) is governed by the National Land Code and other regulations, which may not support such conversions without significant amendments to existing laws.
2. Ownership Rights: Under the PLS, buyers are considered lessees rather than owners, limiting their rights and complicating the transition to freehold ownership. This status creates challenges in asserting ownership claims during conversion efforts.
3. Regulatory Approval: Approval from state authorities is essential for any conversion, which can be a lengthy process involving multiple stakeholders and potential opposition from various parties.
4. Legal Precedents: Previous court rulings have highlighted issues with leasehold agreements and misrepresentation by developers, which could complicate future conversions if similar disputes arise.
These factors collectively pose significant challenges to converting Medini properties to freehold status.
@@pgobservers yes see updates in 2025
U r confused
I have personally spoke to the representative of Iskandar Investment Berhad. The party has agreed with freehold conversion plan and is currently working with state gov and land authority in finalising the workflow for the property owners. You can expect official announcement by the state government soon.
On top of the legal processess and regulatory approvals, conversion from leasehold to freehold will entail payment of hefty land premiums by the unit owners.
It might become an issue if the current opposition party of Malaysia, PAS uses it as an issue to viral it as Malaysia Gov selling Tanah Malaysia to Singaporean and China Citizen. Recent case in Pahang Malaysia which a China origin, local setup company bought a piece of leasehold land for industrial use being criticized by them as selling Malaysia land to foreigner and the Pahang Chief Minister has to make a public announcement to clarify the issue for the Public. 3R is here to stay and don't be surprised when there is a policy amendment happening due to Political Needs. Welcome to Malaysia!
"If you don't know what you are talking about please shut up!!" - Well said.
@@shutengloke5907 thank you
If you know you are talking ? 😅
@@dylansim4717 Not necessary.
Using logic, if I say "If you are male you are male, please like this video". That doesn't mean female cannot like this video.
Thanks for the video. A much better job than CNA.
@@itisallinyourhead1709 thank you
Thanks Ryan for taking time to do this video. Shame on those that report on news w/o conducting proper research and analysis. As usual… spread fears. 🤣😂
@@erictiong8575 thank you
Hi Ryan. I think the truth is that some agents may not even know the difference between PLS and Leasehold. Case in point: at one time, I almost bought a duplex at Elysia Park Residences in Medini. During the viewing, I was told by at least 3 agents that it was a 100+ years leasehold property; and never once did any agent told me it is a PLS property....so I can totally understand the unhappiness of the owners as it seems they have been "cheated", even if practically, there are very little differences btw PLS and leasehold. In fact, I actually paid the booking fee for Elysia Park Residences, but finally decided not to buy a "leasehold" property and bought a freehold condo at Paragon Gateway instead...
yes you are right. Probably many agents themselves are not aware
The real problem that PLS owners have is that THEY CANNOT SELL.
@wnose why cannot sell? Call agent to sell
@@AlphaMarketingSG That's because under PLS, the buyer is a tenant, not an owner. So they can't sell what they don't own.
@@wnose of course they can sell. You confuse tenant and lessee. So many transactions for Medini today
Withholding of critical information by the relevant Subject Matter experts or property sales agents should really be consider CRIMINAL.
let the court case investigate
Can't say SG 1st world country and all people educated. Lots of old folks still not very techy and subject to scams in an sheltered politocal environment
sure, in such cases, is important to make sure they know what they are doing
Do you think this doesnt happen in UK, US or Australia? Arent they First world too? It even happens in Switzerland😂
Considering all the negative publicity, it is timely for Iskandar Investment Berhad to issue a statement clarifying exactly where buyers of these projects stand.
There seems to be confusion about whether can sell or rent out. But I know of someone who rented out her One Medini unit then sold it. It is confusing when the info put out is contradictory.
Not sure if IIB will say anything. But ya if you have already seen people sell/ rent Medini properties, you have practically all the major rights any owner would have whether you prefer to be called owner or lessee
Which 2 units you own in Medini ?
Call for press conference, invite CNA to raise questions
Yes. You were the one marketed D’Pristine. What a rubbish strata title you talking about ? The strata title owner name is IIB. The purchaser name will be printed as “others”. So as the developer name. That is only a piece of paper you are holding. Not strata title under purchaser name. Don’t tell lie.
DPristine Medini strata title is not out yet, how can you know haha
@@AlphaMarketingSGyour Ryan was talking about grand medini strata title. Ask him to check the doc properly. Don’t make yourself a clown here. That so called strata title that he own, clearly stated owner : IIB. Record urusan: Grand Global. And purchaser will be recorded as “others related to ownership matter”. Does this call strata title ownership ?
@PeterLee-v5s " others" meaning? Does purchaser's name appear in the strata title?
@@Sunshine-zi4nq your name as purchaser will record in that paper as “others “ column. Not as “parcel owner” column. The parcel owner in the strata title printed IIB as owner. That is what CNA news was all about. Whether or not you were told it was a private lease, how do you expect a layman people understand what the agent or lawyer asked you to sign for the fact that in Malaysia, you signed 2-3 booklet of doc ranging from loan doc , deed of mutual etc. moreover, the lawyer who did the conveyancing was acting for dev. And they gave you incentive to sign direct with his lawyer and not engage your buyer lawyer. This was a trap. Adding to this , these Singapore agents were also not educated on private lease. So as Malaysia agents.
@@PeterLee-v5s the strata title says that IIB is the land owner and the buyer has a 99/ 129 year lease on the property with a start date and end date. Which is the private lease we are talking about. So you are concerned you don't have any rights based on this title?
I think what you have mentioned that is little difference between buying under a leasehold versus a private lease is hardly different. To that I must contest, it is vastly different. Malaysia accepts the UK law, as Singapore does. And the tenure for land is only Leasehold or Freehold. Anything not freehold is leasehold, year 2 subject, LLB, Land Law. Tenure is about ownership of land and the length of time you own the land. A private lease however is not a proprietary ownership, and it is a lease- a holder of a lease versus leasehold- a holder of land as a owner for a lease term. In essense as per the CNA article and other law experts have expounded, lease owners are not owners per se. I do not think this is a comparison to HDB, it is not similar at all. HDB owners are owners, as per gov and hdb.gov, and official statements on the national status quo on ownership of hdb that has been clearly communicated is not something to be trifled with. A lease is a lease, landlord and tenant. I assure you that Malaysian Lawyers, my classmates, Seniors, and all who have done the LLB will be able to state this difference. In essence, a leasehold proprietary owner, and a owner of a lease is not similar, not legally, not in form, but prima facie, on the surface for practical reasons might appear to be similar. I do like your content and I have learnt things I would not, but when it comes to legality, you really need the proper knowledge to speak on this issue. Thanks for putting up content. Appreciate it, cheers.
@@BertrandLim thank you for watching.
What about the difference in the rights of these buyers, between Lease and Leasehold with regards to selling, renting out, managing the condo?
@@Sunshine-zi4nq I think the articles have been quite informative. Although I find it is best to get legal counsel and not rely on social media and videos to be educated. I have known youtube lawyers(they claim to be lawyers) who make videos and don't know the difference between joint tenancy and tenancy in common and say JT is 50/50, when it means both co-owning the property 100 percent at the same time, hence the doctrine of survivorship. As per rights, I was not privy to the agreement, and only the relevant parties will be able to show what the terms and conditions were, the clauses that they agreed to. If it was spelt out in the purchase agreements, and both lawyers, buyers and sellers(developers) found the documents satisfactory then I doubt there will be a case to answer. The courts will most definitely not protect a fraudulent scheme, but having said that this is a 10 years issue that the "purchasers" have not had issues with, hence maybe deemed to have accepted the status. The statute of limitations to raise issues with the contract has also lapsed. In short, For a leasehold, you have proprietary rights, for a lease, you are a tenant, it is quite clear that these rights are different, but one must still revert to what has been signed. For a contract to be binding, you need an offer, acceptance, consideration, intention to create legal relations, and if these elements are found, then the contract is deemed legal. With all cases brought before the courts, the final person to decide on the issues is the judge, hence the need for lawyers, courts, judges. Meantime, one would be keen to see this case and the judgement, that will form case law.
How do you confirm or know the whole medini will be converted to freehold? Do have a property there too, at Avira
@@MrLyainliang ask your developer
It has been reported in The Star newspaper that it is under discussion now
Was the scheme clearly described in the SPA? May I ask why you chose to buy into Medini when you could have bought FH in JB town area or Bukit Indah at lower price?
@@blesseddc5093 Medini has a number of incentives that other parts of Malaysia do not enjoy. Can watch my video on Medini
@AlphaMarketingSG but despite all that development is very slow. Compared to Eco Botanic nearby there are hardly any amenities. Even if it is Freehold, it wont do well unless there is development.
@@blesseddc5093 yes Eco Botanic has done very well. But you dont have to live in Eco Botanic to go to Eco Botanic. Medini represents a lower entry point to living in that area without paying Eco Botanic prices
Why do you think there willing to convert it to freehold ? What is in it for them ?
@@BasilLeaf-o4c help Medini do better overall
Chances are low, because this a leasing contract not property sales and purchase.
If you see from the news most of the victims mainly purchases property which cost less than 1 million ringgit unless the victim willing to top up to 1 million for the S&P to fulfill the minimum Foreigner property ownership rules by the Gov the chances a low.
Malaysian land ownership or strata title are governed by the state government.
The head of state government ie state chief minister has full authority to decide on state land issues.
As for the conversion, if all conditions have been fulfilled as per land law, chief minister will sign the land conversion upon the advice of district officer or pegawai tadbir in Malay. Of course, legal procedures must be adhered with, just get a malaysian lawyer for advice.
yes
Talked alot but in short: rigging silliporean of their hard earned after they signed. I almost kena also.....
If this leasehold turns freehold, do the owners pay higher property tax
depends if the valuation change
you buy for what objective first? The owner still enjoys a nice big property at an affordable price for 99 years. I don't see how that is a scam
99 year lease from government and from private company is different.
By the time closer to the lease expiry, it is more likely that for the government to extent the lease with top up as there are more of such government leases and they need to look at the general interest of the public. This is not the case for a private developer.
Leasehold also there is no guarantee of lease extension. In Singapore there is already scenario where upon expiry the government will take back.
Gong wu gong bo . It seems like Ryan also doesn't know what is is talking about.moral of the story is NEVER BJY any Malaysia property, and dont trust any agents including Ryan because all they want is more people to buy the over supply property in Malaysia so they can earn their big fat commission
Sour grapes!
@@GTG741-88 thank you for your useful comment
Can you point out where Medini ? Any documents are legal when the buyer are signing.
Agree…why put stress on yourself . Nvr trust their Govt. Anything can change overnight. Even their own citizens also don’t trust their own Govt.
What is the difference between the PLS scheme and traditional leasehold properties?
PLS is a private sector creation that is essentially a contract between a seller (lessor) and buyer (lessee) with no guarantee of lease renewal or extension at the end of the lease period. A traditional leasehold property is governed under the National Land Code, with an option to either renew or extend the lease. Therefore, a PLS buyer could possibly end up with nothing at the end of the lease period.
Leasehold also there is no guarantee that the lease will be extended.
Well done for explaining
thank you
He is just trying his best to defends Malaysia policy. If anything go south, he will be scared no singaporean will invest in Malaysia. Local malaysian are smart will not buy condominiums. Either the locals will prefer landed or freeholds with local price. Sinngaporeans only can buy inflated housing.
Singapore and Johor economy is so intertwined. There is no real reason to get scared one haha. There will always be people with a need to buy and there is a reason why both governments are doing the special economic zone coming up soon. Singapore and Malaysia both have lots to gain working together and leveraging the strengths. We should really avoid all the mudslinging between each other
@@AlphaMarketingSGI agree. But Foreigners cant trustnMalaysia due to lack of transparency and the way things are implemented. Just look at VEP. What a mess. The SEZ cant take off if this is how things are done. In this case, seems there was lack of transparency about the scheme.
super clear explanation. Pity that CNA did not FULLY leverage you for your opinions as the journalists/reporters from CNA are not subject matter experts.
he is talking nonsense and waiting to sell more johor properties. He isn't aware that only owners as defined under strata mgmt act can attend AGMs, isn't aware that getting consent whenever you want to sell your property from IIB isn't the same as HDB, and that bank financing can dry up completely for PLS due to its complexities.
@@kamkahken all property agents are the same, all sing the same song in order to sell more property to you. You lose money years later is not their problem
'@@kamkahken If anytime during the interim when strata title deeds are not yet obtained, the developer were to go bankrupt due to mismanagement or corruption, what would happen to this so called "tenants"? A critical point to think about.
can go AGM, can get consent, can get financing, why cannot
yes technically if a developer goes bankrupt, then the liquidator will have to continue working arrangements including strata title application. Of course this complicates the situation
Hey is it true that many R&F owners who bought few yrs ago have yet to get the mot from developer ?
This type of thing don't ask here, will affect property business one. Also don't talk about MRCP pulling out of HSR and causing financial troubles to the project, otherwise everyone will give up buying liao. We need everyone to BUY...so only say GOOD things here. Can?
This is a property sales talk / marketing, not for informing potential buyers about the problems they will face after buying. For that they need to do their own homework. Otherwise, next time even if they cannot enter their own apartment after buying cos no visa and have to pay taxes also become our baby.
As sales people, we only say the good stuff, and if want to say bad stuff then it is only about other agents/projects, not ours. Get it?
The owners can only get MOT once all phases of property development are all completed.
O yah they use roti canai here but least it’s Rm $1.20 compared to the great SG $1.80 plus bloody good curry inJB feel like getting scammed in SG
@@andyong6108 you dont know where to eat in SG lah? Go Tekka and eat. Much better than JB. Also salary much higher there so it is more affordable😂
Phase 1 R&F the MOT/ strata title already issued in late 2023.
I think the issue is mainly the voting rights to appoint estate management. The folks are angry being screwed in maintenance fees
@@AW-tc4hy I am sure we love the maintenance of old buildings in Malaysia. Iskandar investment berhad is a JV between Khazanah, EPF and johor state, and NOT federal govt. Go check out old govt buildings in KL and ask if you will delegate the mgmt of your property to a state entity
@@AW-tc4hy the owners can vote for the owners committee
@AlphaMarketingSG can owners sit on the committee and make decisions? Has there been any interference or involvement from Iskandar Investment Berhad in the JMB of your condos which have been issued strata title?
Yes, an excellent job from you.
Clear and found most answers in this video.
Thank you
Teoh
28 Dec 2024
thank you for watching, please share
We saw you in your casual attire white tshirt and jean at Macrolink with your customers..
oh haha thank you, yes I was showing Macrolink today
Hi Ryan, I recall when i signed a JB property purchase, the whole contract (which is about 50 pages thick) is in Malay and not English. So that creates a barrier to read and understand the whole contract properly let alone fine print. What the lawyer did was just to translate and highlight some important points in the 50 page contract. Am i correct?
Sales & Purchase is confirmed in English. Some government forms may be in Malay but the legal contracts that the banks/owners/developers hold will be in English
Ok la, we are used to HDB arrangements. Please don’t implied they are uneducated, ignorant, helpless, careless, foolish persons.
@@choonsengteo9694 😆
@@choonsengteo9694 80% of singaporeans live in HDBs and HDB is an entity that can issue near sovereign yield type bonds in Singapore.
Meanwhile, in johor, only 10k houses and apartments were sold in Medini. Out of population of 30 million plus. Iskandar investment Berhad will not be able to issue any bonds due to lack of standing
😂😂😂🎉
@@kamkahken IIB is actually owned by the Malaysian government. But they are not a government body like HDB.
Still many smart Singaporean out there making money from JB property . Only those newbies are kana con🤭
newbies mah
Everytime I got the urge to buy a car in SG, I will buy a condo in JB. Same price and no need for loan or ABSD unlike in SG. Now I feel like buying an EV with all the hype, and thanks to this video, I am considering to buy another JB condo instead. Should I? I will be honest I can never afford a condo in SG as I cannot even save S$500k in cash for the down payment. I really wonder where people get the money from.. my income doesn’t qualify for subsidised housing but I feel like I am never going to be rich enough to afford a condo in SG.
we should try to help everyone to make money and minimize losses
thanks for explaining! huat ah!
thank you
I just mentioned about this to an agent the agent wasn’t aware 😮
@@sameeracee alot of new agents maybe don't knowv
Disagree, you can't expect everyone that invests in foreign countries to be educated. The CNA video already illustrated that the agents that marketed the product deliberately did not provide full info. Feel that you're abit biased tbh. But still, appreciate the video
Thank you. Whether there is misrepresentation or not let the court/ authorities go hash it out. I think we have to listen to other side of the story as well
Flora area land is freehold but the developer sells it as leasehold
@@Ymusputhandle yes. Flora Drive area
11:10 u said that if these buyers dunno what they are signing then it is very sad…
My response: well, u can say that is true for 1buyer vs the developer then yes u can say that.. but here i heard all 68 owners comes together to sue the developer together then do u think 68 all collectively, at the same time don’t know what they r signing. I also read that in 2020 this similar court case where 100 owners are involved vs the developer and the court ruled in favour of the homeowners.
With such large numbers, it appears that sales was quite a scam is a higher probability likelihood than the “the buyers did not read properly” that u claimed.
How about the marketing agents? Well all have collected their fat commisions. It is not their problem anymore lol
Maybe the agents/ developers are at fault since they are sue-ing for misrepresentation. Like I covered in my video, I am not part of that marketing process in 2014 for Iskandar Residences. But I know for a fact that when you buy a Medini property, there is a separate trust/ lease document. It is not like the "lease" word is hidden in the purchase documents. To me if you didnt read that, you likely didnt read alot of things
cannot find any reports on the freehold conversion, hope this is true
@@mannnnnnn8 ask your developer/ mc
Why no reports or official news if it is true? Also why would they convert it? Does it benefit the govt or IIB? I thought they want to hold on to the land since it is an area with mostly foreign buyers .
@@lindc1070 wait in 2025. Benefit the buyers actually. IIB give you the freehold instead of the current 99 year lease
@AlphaMarketingSG akan datang, I hope.
Hello😊. Do you recommend to buy suria hills bungalow? ❤
Please Whatsapp me at +65 81261626. Every purchase is different and depends on your needs
TQ for your briefing and insights on Condo purchases between PLS and Leasehold!
Q. - when the Strata title is issued under a PLS, who will be the Strata title owner? The lessor ( developer in this case) or the lessee (purchaser in this case)?
The lessee will have a strata title for the lease period.
@AlphaMarketingSG That means, at the end of the lease, say 99 yrs, the ownership of the Strata title reverts to the developer? Correct me if I'm wrong.! If the lease is renewed for a further say 66 yrs lease, the lessee will Not be entitled to this 66 yrs lease under the PLS? You did not mention whether the Strata title is in lessee or lessor 's name?
The developer is out of the picture after the strata title transfer. It is between the buyer and IIB who owns the master lease
@AlphaMarketingSG how is it worded?
@@lindc1070 who is IIB? Where does he come into the picture?
After say - 15 years, the Strata title is issued! In whose name will the Strata title be issued?
They always said money not enough still buy condos and landed houses in JB, M'sia. Thanks for the great videos lah.👍
thank you
As Singaporeans. Properties in MY is never an investment. No matter how much ppl tell u otherwise. They have their own agendas. Bottom line as rule of thumb is never an investment.
sure, if scared to buy, rent also can
Not easy to understand even you read page 1 to last page when you are not legal train. Most time we listen and trust the agent told us. Don’t laugh when you said when you signed but don’t know what you signed. People signed because influence by the agent.
ya i guess schools nowadays need to train more practical things in life instead of purely academic stuff
Now is actually not online that started this fear, is sg own state media cna who started all these reporting n started it
create more questions than answers and "experts" giving incomplete answers
Its just a leasehold same as any property you buy in singapore
@@mugenpower78 almost the same practically, some minor differences legally
I have been long wondering for many years, why there is such attractive offer from Developer where the property which cost less than 1 million ringgit and "foreigner can buy" ?
Now all comes to light, there is a scheme called Private Lease Scheme which some developers out come out to circumvent the Minimum 1 million dollar property value for foreigner Restriction. Thus under PLS contract, you are leasing, you did not purchase the property and do not have to follow the minimum 1 million ringgit rules.
There is a high risk out there for the unsuspecting buyer, where legally you are not owning the property, and resale value will be bad.
hhmmm... everything has a catch? but if you buy to stay/ enjoy the property (like how all property should be actually), its not a bad deal. $275k get a 1100sqft condo with nice facilities in Iskandar Residences, how to get that living space at that price in Singapore?
*You can scream and shout until the cow comes home... but the outcome is what is actually written in the agreement... BLACK AND WHITE. You can sue you agent, your lawyer but the Developers will be singing happy song to the bank... 😂😂😂*
see court case how
That’s why this class action suit have to sue. The other 10k houses and apartments are not asked to pay stamp duty and discovery all of them are owned by Iskandar Investment berhad. 100%.
@@kamkahkenwhich other 10k? Do you mean Affiniti, D' Pristine etc?
Actually PLS is HDB flat in Singapore context
Property of HDB
Anything u wanna do mus hv HDB consent, eg rent, airbnb, 1:99 etc otherwise HDB can repossess your flat
@@Ymusputhandle HDB is a government body
@AlphaMarketingSG thats the only difference cos our gahmen wants to control everything, everything is under control & regulated in Singapore, they do not allow private or individual to do monkey biz
Other than that, the theory is the same
The shore condo is PLS
Is it true that entire Medini will be converted to Freehold?
yes in 2025 you will see this happening
Pls give facts, not like "quite sure", " "normally," etc.
be fair to Ryan. He's not lawyer and he's not representing any parties. He's giving his views which you can choose not to listen. And yes don't listen if you intend to buy properties and it is your own due diligence to do your own homework and responsible for your own action. Are you going to blame Ryan if things have gone wrong?
which statement i made you feel is too vague? I clarify for you
@@AlphaMarketingSG As mentioned in my earlier comment, it sounds like you are giving your opinion and using words like quite sure or normally make me feel that your opinion is not to be take seriously.
@@dachee as candytan was saying, to be fair, he is a property owner with experience, sharing his experience and what he knows. He does not say he is a lawyer with a LLB. So if one relies on representation as such, then it is to one's own peril. There are many speakers, facebook pages, blogs, videos, portals, books that speak on real estate, but how many have the necessary credentials to speak on them? Still it is taken as advice. If one could attend online available videos and talks and become an expert, then law school, the rigors of exams and lectures and grades would be redundant. I have enjoyed his videos, but I also have a legal background so one has to exert due diligence, as per the proverbial statement, caveat emptor.
quite meant utmost absolute
At 9.11 min of your clip, you mentioned that that buyer can get strata title for their units in Medini. Can you clarify and be accurate if you are refering to those condo units under PLS getting strata title? From my understanding of PLS, there is no strata title since it is a lease. According to Strata Titles Act 1985, only the Registrar (defined generally as State Land Office) can issue individual strata title to buyer.
yes there is strata title for PLS condos. As I mentioned, at least 2 or 3 condos have already have strata title issued. Strata title issued by land office
Some developments have received it , that is what I heard. Some I know for a fact are in process. Owners have signed Perfection of Transfer documents. But I think it is Transfer of the Lease since it it leasehold. However, CNA wasnt correct in saying cant rent without permission. Many owners in Medini are renting out.
There is obviously a lack of transparency couple with the intentional non disclosure of material facts at the point of execution of the S&P? There is no logic for a purchaser esp. a investor to buy a property under this so called " PLS" arrangement? Makes no sense to any common investor/purchaser with average intelligence. There is some element of fraud by the developer/property agent when promoting the sale of PLS properties in the given circumstances? 😮😅
@@AlphaMarketingSG strata title issued to whom lessee or lessor or some third party in a tripartite S&P Agreement? You are evasive to answer this question?
@@leechaising6131 the strata title mentions the land owner is IIB and the purchaser has a 99/ 129 year lease with a start date and end date, which is basically a what the private lease is.
PLS is worst off than leasehold.
Private developer, not govt entities, if in financial difficulty will get leassee into troubles. Leasee have not rights in property general meeting etc.
Never ever buy a PLS development, especially from private developer.
sort of depends who the PLS original owner is right? In Medini case, IIB is actually owned by the Malaysia government. In Singapore, so far has been Far East and CDL.
The word Lease is already something is going on. Like lease a car do not belong to you. Its just that. Best to have a lawyer, if buying property.
or lawyer friends haha
Converting to freehold is free of any cost to the existing owners. If not, what are the cost?
@@colin.voyage1289 there will be a small legal cost
I think you did not explicitly point out the difference between a "leasehold" and the "PLS" scheme. You need to get a lawyer to explain this difference.
@@ThePropertyBean I did. That's like the main point of the video. Watch again
@AlphaMarketingSG PLS scheme do not have ownership rights to the property. In a normal strata leasehold, buyers have the ownership rights for the lease term of the land. So, if you do not have ownership rights, you basically are not allowed to rent or sell the property without the consent of the owner.
@@AlphaMarketingSGoh wow you did. let's not use our brain for 1 second and believe him 😂
@@ThePropertyBeanyour explanation here is way better than the entire 17 minutes video. Ryan doesn't seems to know what he is talking about and it's so obvious that now he is scare so he is trying to create this video to form a false positive sentiment illusion
hdb is a statutory board and Singapore credit rating is AAA. PLS is private . private gov link in Malaysia don’t have a good reputation . Always get from reputable developer in Malaysia. I sold my medini flat last year. No problem. I upgraded to a leasehold landed at the same time by Sunway.
So obvious jb learn from sg hdb , "" owner "" of hdb are actually not owner are actually tenants not owner , u buy a tv u dontbreturn bevause u own the tv but if you have to return the tv means you only rent and dont owned the tv , hdn brain wash , mislead u into believing thatbu are owner when u are nof .
leasehold and private lease are quite similar in many ways
When buying overseas properties, always engage a proper lawyer to protect your interests. It is peace of mind.
i heard that 1) it cost really a bomb to hire one…
Ok never mind, lets assume buyers really hired one, say pay SGD9k to buy a SGD250k ‘freehold’ apartment…
I heard of cases where the developer can contact that ‘independent’ lawyer that u have hired and bribed him to give u a rosy picture..
Welcome to bolehland
ya especially if you are not reading what you are signing
yes its really easy to bribe people in bolehland. Try the next time and let us know how it goes
Hello, look Into your own backyard, Spore. There are pte land whc have this feature la. Wait till u hear this. The HDB flats are all PLS ie Public Lease scheme. Same principle - no land ownership, 99 Yr lease of airspace hoh. End of 99 yrs, land reverts to HDB ie the govt, value $0. Where will be Yr cpf retirement fund and whole life savings? Sporeans should be worried over this than something that is similar overseas. The kicker is the Spore one is a massive one affecting 85% of the population.
And same thing - Sporeans hv been sold the idea that they are owners when they have no land ownership.
HDB is a well regulated entity, so people have more trust in it. But ya in principle, there is not much difference in what HDB is doing.
Regulated so what? The same fact is that the land don't belong to the "buyers" who essentially bought the 4 walls fr 99 years, thinking they own the land for 99 years.
The same thing for the Malaysian PLS. It was printed and the purchasers went thru LAWYERS. No? Pls dun smear others when u don't do your own diligence. Period. How about blaming the Pap gvt for " conning" Sporeans over buying the HDB where they actually bought the 4 walls, and Nothing of the land?
U talking nonsense
Hdb different from private company.
Hdb is not able to go receivership yet developer as company could be .
So what happen if developer gone receivership especially it is so common in Malaysia as 家常便饭 kind
IIB is owned by Malaysian government. Far East and CDL also technically can go into insolvency too right?
@AlphaMarketingSG
Im not refer to IIB. Bc iib sold 99 yrs lease to the Private developer of whom is able to go under ..
@@SWTAN-JEFFREY but if a developer goes under, its the same problem for the buyer whether its private lease or not.
@@AlphaMarketingSG leasehold in sg the buyer has the strat title, where got problem. But for PLS then, once developer goes under, then, the lease would revert back to developer creditors , then, those Naive tenants would be in trouble as the leasing agreement was with the bankrupt developer. No obligation from the creditors side.
u are not well informed in financial tecnically leh
@@AlphaMarketingSG Under leasehold ,the buyer has the strata title even if developer were to gone down.
But for PLS in JB, the buyers are just mere tenant without owning any strata title, so once the devleper gone down, its creditors would take over all assets of the said developer, but no obligation to hold the lease of tenants.
Its like u rented a condo from main tenant as this main tenant is leasing from the condo owner.
u are the sub tenant and both main tenant and sub tenant do not have strata title.
So what happen when the owner of the condo went bankrupt and the condo revert back to owner creditor bank?
the bank does not have obligation to continue to lease to main tenant for 99 years.
This is call 3rd party contract of which go nothing to do with creditors .
u are young and technically no sound..
I agree. Spend money to hire independent estate agents and lawyers who have local knowledge for second opinion. Don’t be penny wise , pound foolish.
i heard that these ‘independent’ lawyers that u hired can be bribed by the developers to paint a rosy picture to u…
Welcome to bolehland
you "heard". That is a good quality information
@ yes, I don’t deny. It means what i heard can be true, can be false. I dun say i confirm… Similarly your “quite sure that…” “normally..” are of similar nature…
Anyway i dun really fancy malaysians here enjoying the fruits here, and no need to do singapore national service and can buy cheap cheap jb houses where foreigners can’t … that is why many malaysians here don’t want to take up citizenship.. there r a large numbers here.. i think around 1m malaysians working in sg, out of 6m population… one day if sg has any pooblem, all run back to malaysia.. i dun fancy poverty agents holding both sg and my licence, 1 leg step 2boat
🤣the motivation for the CNA JB hit-job is summed up by their own opening line "Analysts say Singaporeans are among the top buyers of property in Johor Bahru, which has seen prices jump in the first half of this year." CNA is well aware of SG herd mentality and their propensity to read only headlines and opening statements, thanks for addressing this, buyers should compare apples with apples, this video explains PLS well: ua-cam.com/video/1D1Atr1SnTk/v-deo.htmlsi=lDLNgpW69SaY8odJ
thank you for sharing
Buyers beware at the end of the day. It is more of Singaporean kia-Su spirit is playing up. Personally I don't believe they don't know the T&C of the contract, you are buying houses not buying shoes.
@@roamingalone5226 haha ok
Best approach …book a hotel or Airbnb instead of getting a weekend properties, if u hv zero risk appetite
rent is always a good option if you not ready to buy
Nothing is free (private lease or leasehold to freehold conversion); buying cheap and good are mutually exclusive concepts when it comes to Malaysian properties,
hahaha ya well expensive thing must be expensive for a reason
12.41 plan to convert PLS to freehold? At what cost?
minimal cost, was told RM10,000 thereabouts per title
Can check with you whether it is common for freehold condo owners to wait a long time (up to a year) to receive title deeds after transfer initiated at the land office? TIA
@frankauerbach yes, strata title issuance is a fairly complicated process and unfortunately this may take years yes. Best to get periodic update from developer on progress
@AlphaMarketingSG How do owners safeguard themselves? Until strata title issued, owners only have a stamped SnP document
It took us 9 months to obtain the freehold title
@@frankauerbach yes prior to strata title issuance, your SPA is your ownership document
@@JBJuggle2023 For which project?
dump so much money BUT signed without reading, incredible.
Usually is read but dont understand.
Cut the stiry short.The onus is on the sellers nagent to clearly in writing inform buyers on the actual facts.beating around the bush is pathetic.
and if the purchaser signed the documents stating he is buying a private lease, the purchaser has no responsibility?
In this case I doubt even the Singaporean agents knew what they were selling
Can the buyer of PLS get the title deeds in their own name after they pay up to mortgage? I know HDB can, as i got my deed... if PLS cant, then it is not the same as HDB.
@@Ersanba the buyer name already appears on strata title with or without loan
@@AlphaMarketingSG under PLS, does owner get the title deeds under their name after they fully pay up the mortgage.. this is my qtn and it is a yes or no answer
if PLS and leasehold is the same, why bother to create PLS?? why bother to sell under PLS? is HDB and pte apartment in Singapore the same?
@kelvinyeo2047 it's not exactly the same legally, though in practice a leasehold and lease owner will enjoy usage rights same. The only difference is who is the original land owner after the lease is completed
@@AlphaMarketingSG why would they want to sell as PLS and not leasehold in this case? we cannot ignore legality of ownership is a very important factor. if a change in lease title to freehold by gov, who will benefit in PLS and leasehold owner respectively?.
@@kelvinyeo2047 leasehold has to be from government, PLS is from a private entity (even though in this case IIB is owned by the government). The title is already freehold
Didnt Mah Sing have a court case too, legal action by Meridin buyers? Perhaps you can do a video on that. The buyers won the suit but Mah Sing is appealing
Mah Sing's case abit different. Apparently their SPA got problem so there was a flaw that cause them to lose the case
@AlphaMarketingSG did they challenge the same issues or different?
Wasn't that law suit about LAD?
Should Medini turned freehold, logically it will only benefit the original private land owner as those condo buyer would still be on Private lease. Isnt it?
the land is originally already freehold, now IIB so good let you have it freehold instead of doing private lease anymore.
gross mistake over pls scheme.
1. Loan issue. As like tenant of yr house. Instead of tenant paying monthly rent to u. This private lease scheme is paying one lump sum for yr lease years 99 yrs.
So would u allow yr tenant to take loan and use yr property as mortgage ? Answer would be NO.
So the buyer would have to either pay cash or personal loan.
2. As the title belongs to the developer not u. What if developer went receivership ?
Just like the house owner sold their house and he would break lease with tenants and pay the terms penalty only..
So ends up u lost the house u thought u owned.
You can get financing for PLS properties. A number of banks do it. Even a charge can be placed on a 99 year lease, charges doesnt always have to be on freehold titles
I think yr info is misleading on bank loan.
Banks make loan on this kind of leasing property is different from ownership mortgage. Why?
Bc its common sense to the bank that when Borrower didn't pay mortgage,then, bank is able to sell the property in the market.
But for PLS , how would the bank sell as the property title not of borrower?
Technically the loan u mentioned u are missing some facts for sure.
@@SWTAN-JEFFREY confirm can. Medini have auction units bank has been able to repossess and resell via auction. Already done many times.
good luck to the buyer, the property price is going to "lau sia" soon
why?
If FH given, it will surge. But....IF
Hdb is sg gov, trusted provided safe guard to hdb buyers
yes
Freehold, can BUT you must pay more
Freehold usually cost more. But the conversion process for Medini will be affordable
People sign Sales & Purchase Agreement SPA, they saigned tenancy agreement, so who's fault?
@@Ymusputhandle its not a tenancy agreement, you buy a 99 year lease
@@AlphaMarketingSGCNA reported it was a tenancy agreement they signed instead of SPA
@@AlphaMarketingSG according to cna news, they signed tenancy agreement not spa
@@Ymusputhandle can go ask the buyers what document they sign. 99 year tenancy agreement is basically a lease
Matters of facts is that there are just too many of this hidden causes that are not beneficial to the buyer.. another case of buy at your own risks foreign property. 🙄🤣
@@ekcng thank you for sharing
If PLS buyers are not the owners and belongs to the developer, should these buyers of such properties pay property tax, sinking fund and maintenance fees? Since in principle they are lessee 😮
yes the lessee pays the property tax, sinking fund, maintenance fees. They are owner for the 99 year lease
Not developer but Iskandar Investment is the land owner
just buy free hold, no such problems....got so many cheap free hold, why go buy any 99 yr in JB...
@@SuperT105 ya well freehold is best and least problems
Are you sure that the conversion of land titles to Freehold will change the terms and conditions of PLS? I believe the PLS sits on top of the title tenure/type, and a change in the latter does not directly change the PLS.
@@abcabc-m1q why else would they give you a freehold if not to over-ride the PLS
So that it benefit the developer and not the PLS buyers. Unless the PLS document state the 99 years lease will change when the developer lease from IIB changes@@AlphaMarketingSG
Yes. That would be the correct interpretation. if you're only leasing the unit, the underlying status of the development will only directly benefit the legal owner..
@@cheonglaimeng6445 the underlying land is already freehold. So now what will happen is they cancel the PLS and give you ownership over the freehold status as well.
I feel Not all can read Malay legal documents in fine print 😂 please don’t laugh at them ya 😂
@Retired734 its all in English ya. Very limited documents are in Malay only
You say can sell but sell at what price? Rent but rent at what price? You don’t have a say. You can make profits like in other properties.
that one is determined by market forces
Rent has gone up recently. No need to get permission or approval to rent out . I believe Medini is popular with Malaysians working in Singapore. 2 bedrooms are getting over 2.2K now.
JB Private Lease Scheme 99year noting wrong, need consent oso nothing wrong. COMPARE sg gohmen public housing HDB mllion$$$$ price and is same 99 yr , and is oso need consent
yes all leasehold or private lease need consent and consent is almost always granted.
Medini holders Huat 2025
Huat ar!
Huat arhhhh!!!
sg peeple frogwell, abting they nehwer heard before is illegal to them.
its good to be open minded
Much clearer than CNA or other UA-cam reaction video on PLS. Many only know freehold and leasehold but have no idea on PLS. If finally Medini is converted to freehold, it would unlock the value of the property because it’s not easy to get freehold property in Malaysia. Freehold property fetch preimum price.
thank you
Contravene Housing Developers Act? You sure? Wanna bet?
@Tollboothkaki-o7g I think you posted on the wrong comment thread. There is another one talking about this with HDA
Most Malaysian properties are in malayu not in english
legal documents mostly are in English
sub lease with variations
???
Hi Ryan, thanks for the clear explanation on the difference between PLS, leasehold and freehold.
I have a curious question though. If Medini area will be converted to freehold title in future, do existing owners of properties there need to pay any charges/fees for the conversion?
If there no need to pay any extra charges/fees, wouldn't it be unfair to future buyers who need to pay more for a freehold title property there?
And also for owners of properties on freehold title elsewhere in Malaysia who would have paid more?
I am not speaking because of feeling like sour grapes, just that I think there needs to be some fairness in carrying out policies by the Malaysian government. If not, it is very difficult to convince investors that they are investing in a country where policies are clear, transparent enough and fair.
@jeremyow7283 existing owners will have to pay a small legal fee to do the conversion. Whether that affects the price or not is also determined by other market forces but logically a freehold will be valued more than a leasehold/PLS.
I'm not privy to the full reasoning behind allowing this conversion, but in part it should be to also spur more interest/growth in the Medini area, can watch my earlier video on Medini. If something needs fixing, fixing should happen. Policies need to be tweaked if they don't work out
Boikot the developers.... 😊😊😊
sometime developer also don't realize this PLS is ultimately confusing to their buyers
basically kena kelong.
???
This is to be considered as Scam to my opinion
Under leasehold ,the buyer has the strata title even if developer were to gone down.
But for PLS in JB, the buyers are just mere tenant without owning any strata title, so once the devleper gone down, its creditors would take over all assets of the said developer, but no obligation to hold the lease of tenants.
Its like u rented a condo from main tenant, as this main tenant is leasing from the condo owner.
u are the sub tenant and both main tenant and sub tenant do not have strata title.
So what happen when the owner of the condo went bankrupt and the condo revert back to owner creditor bank?
the bank does not have obligation to continue to lease to main tenant for 99 years.
This is call 3rd party contract of which go nothing to do with creditors .
no thats incorrect, the PLS is from the original owner IIB to the buyer. Unless the unit is unsold then it still belongs to the developer. The developer is not the owner of the land either.
It will be good that a copy of the Option to purchase and the Sale agreement be made available.
can ask owners
@@dachee it’s a sale and purchase agreement signed under schedule H of the housing development act. It’s a standard for new strata construction in Malaysia. However, in true Mickey Mouse fashion, we have a lease agreement attached to it between developer and land owner as well.
Read your SPA like a wise broker who want to sell you shit, they say
@@AlphaMarketingSG Hope that those affected owners are willing to share the documents.
Medini scam going on
it's not a scam, its just whether you know what you were doing or not. Everything here is legal other than claims of misrepresentation by the buyers
Be responsible for what u bought....all T&C are in document before signed by buyer.
@@tannie1111 so u r saying sellers n agents can do anything n the buyers brcome scapegoats.is there no professional ethics.is it cowboy town i suppose.
they are sue-ing for misrepresentation so have to see how the court case goes
Never buy PLS project. If there are banks that do not provide financing to these type of projects, there must be something not sound about it.
Ya because whole of Malaysia, there is only PLS in Medini. So in hindsight is a method that turns out not to be well accepted ultimately and created all this confusion