Lowcostflat
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Low cost flats in a good location could generate very high rental return. Entry cost is low. The problem is there are restriction, not everyone can buy a low cost housing. Can anyone with the knowledge share what exactly are the restrictions and is there any exemption in buying low cost unit from secondary market/subs ale? Some agents said... if it is freehold, anyone can buy.... If it is more than 10 years old, anyone can buy... Different state has different rules....

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There's no restrictions or exemptions for middle or high income earners to buy low cost properties UNLESS it's through the government housing programs (read more: http://www.propsocial.my/topic/181/government-housing-programs-you-should-know-about-posted-by-propsocial-editor).

I stumbled upon a low cost flat unit for sale in SS13, Subang Jaya that day selling for RM180,000! Super affordable! But it's really run down. Can be rented out at about RM800 per month.

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3 years ago I saw a 2nd floor corner unit there selling for RM85K only. Did not buy because some people told me there is restriction (i.e. household income above RM5k cannot buy) in buying low cost flat/house.

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Mag, can't get to the link u sent ???

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@ppnnkk2011, Yes. There's some regulations to follow in order to get unit labeled with LOW COST APARTMENT/FLAT. As i handle a unit in kajang before this. I learned few lessons from this case. Hahaha. The main concern is the buyer that must not exceed certain amount of household income, this include husband and wife. And for sure must be 1st time property buyer.

For DBKL flat, DBKL offer 1st for their current tenant to buy the unit they currently rented from DBKL. My friend in Desa Petaling manage to get 1.

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Low cost flat may tend to have serious security issues. Not advisable to go for that until the last resort...

Prop hunter small

Depending on the definition of low cost... I once got a property for 80k ... well nowadays 80k was considered low cost but back then it is considered medium cost.. not all area are that bad, there are some that is well-kept around the neighborhood. 

Again it all depends on individual .... just my 2 cents.

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Some low cost flat is selling like high end studio... Pangsapuri Bistari at SS2 selling at 450k???

Prop hunter small

the one in section 19 pj is it?

Damansara Bistari??

if that's the one... transaction report is showing around 200 to 250k only    

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A lot of low cost flats (subsale) are very poorly maintained. I saw some available ones at SS13, Subang Jaya and also some at Goodyear Court in USJ, in quite bad shape. Too much hassle having to clean it up and renovate it with low monthly returns. 

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Yes, low cost housing hv restrictins but entry cost is definitely lower with higher ROI. Can appoint agents to manage all...


Prop hunter small

@carmenfoong Nowadays many owner do not want to hire agent to do all these due to cost saving..

and on the other hand some owner appoint too many agent to take care 1 property... until everything went Chaos

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Carmen, even if u appoint agent, they can't get away with all the restrictions, right?... unless u tell me Malaysia Boleh!

Prop hunter small

@ppnnkk2011 agree agree :)

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@ppnnkk2011 ....appoint agent not to get away with restrictions wor...is to manage all the managements of renting out unit ... some owners really dun hv time to look into all ... like when tenant complaint hv a leak here there, toilet cannot flush, stove cannot start, some furnishing damage etc etc... 

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I came across agents who claim they can settle bumi to non-bumi transfer and no income restriction on low cost house....??? 

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Maybe can share with us these agents contacts?? we can use them if really they can do ? ;)

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Carmen, I think u better don't trust them.

Prop hunter small

unless they provide the service foc upfront and only collect payment once everything done, if they ask you to pay upfront then only process ... that would be a no go 

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i suppose they will ask $ upfront, it's whether 100% or 50% upfront ;)

Prop hunter small

@carmenfoong if they are so confident this could be done, they should then charge later... many cases i seen been dragging from years to years... still the owner is paying money ...

depending on luck some can, some cannot... not all 

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Ronald, look at the link below.... i think typo error in the price??

http://www.mudah.my/Damansara+Bistari+SS2+Petaling+Jaya-42823475.htm

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@ppnnkk2011 ...u think shd be how much?

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Carmen, would u pay 450k for a low cost flat??

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wow, 450k for low cost flat, SS2 very very prime location gua?

Prop hunter small

Based on JPPH Transaction record, for Damansara Bistari

transaction are as follow:

30-June C-xx-12 667sf RM181k

27-May A-xx-17 667sf RM193k

26-May D-xx-02 667sf RM200k

30-Mar B-xx-10 667sf RM180k

if for 450k i might not buy...

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Ronald, how and where do you get the JPPH transaction records? Good source of information.

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An experienced agent gave me an advice a couple of weeks ago, that investors with good cash flow should buy several low cost apartments / flats for rental yield, instead of buying million dollar property due to income tax and also easier to get rental for low cost properties. What do you think?

Prop hunter small

Agree with James, and I have a group of friends that is purchasing cheaper apartment / flats via proclamation of sales by bank. (of course those that below market value as nowadays there are many that is quite on par with market value not to mention the hassle you need to go thru)

Prop hunter small

@ppnnkk2011 there are multiple source for this :) 

had sent you an email on the details, as not supposed to promote services in this area :)

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Very good source of info, i wonder if every Real Estate agency subscribes to this??

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Ronald, I also want. :)

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sent to me too ;)


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I want it too :)

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Ronald will start charging a fee for this...

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You can use PropSocial to check transacted prices too, here's one of the example (scroll to middle page): http://www.propsocial.my/property/1555/petaling-jaya/damansara-bistari and it's free of charge.

You can check on http://www.brickz.my/ too but I think they will charge you after a certain amount of search.

Prop hunter small

@jaishin_singh @carmenfoong @azlin Which property transacted price you need 

send it across let me try to look for you ....

for brickz.my they start capturing the data since aug 2014 so some earlier data, due to data integrity issue (if the data is not complete or something is wrong) they will not published into it. need to do some data scrubbing lah...

the only difference between paid and non paid would be by paying, you can know the unit number of the property being transacted 

by not paying you still get to see the data (except the unit number of those condo or houses) 

feel free to let me know what you need to check, just drop me a mail :) 

will reply the soonest, since i am checking on transacted price for my customer's listing most of the time :)

Prop hunter small

there are some other sources like star fish, property base, or even jpph search ... depending on what you need...

but for Negeri Sembilan property ,,,, a bit susah... need to go thru my valuer contact :)

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