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I'm looking to buy a leasehold property in PJ for my own stay with 50 years left on the lease. Can I renew the lease by paying the RM1000 offered by the state government or will I have to pay the full premium based on the market price?


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@jaishin You may choose  to renew the lease by paying the RM1,000 but if you decide to sell the property in the future you will need to pay for the full premium. Alternatively, you may choose to renew the lease by paying the full premium with 30% discount without any further restriction.

David Wong (License No. E2097) Mobile: 0193330573                                         Foreward Realty Sdn Bhd - E(1)1909



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You have the following options:-

1. Pay full premium with 30% discount within the stipulated time given by the relevant State Authority; or

2. Pay RM1000 with the condition that the owner shall not sell the property to others. Otherwise, the owner has to pay the full premium.

A side note for property owners or those intending to purchase property with short remaining lease, do check with bankers from different banks as some of the banks may not be keen to finance and it may significantly reduce the loan margin for such properties.

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Currently the amount for the lease extension is not RM1000.00 it is RM5000.00 now.

The amount has been increased, this was checked about a month ago.

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is it applicable for condo also?