as a bumi I would try to avoid bumi lots (and also "bumi areas" to be honest). But sometimes hard to avoid because of the discount so if you are in it for a long term (not flipping) its ok la. Not being racist against my own race lol.... but just economics.
For me myself, I don't prefer buying bumi unit because it has a lot of restriction. Furthermore, based on a few recent launches that I visit, the prices are not that different. For example if they give 7% discount to everyone, to bumi buyer it will be 5%+2%, so nothing special there. And worse, the property comes with so many restriction compared to the non bumi lot.
Malaysia Chinese feel so disappointed because we unable to buy the property with bumi price even we pay the same income tax, and even we have born after the 4th generation in Malaysia or our ancestor have stay in Malaysia more than 100 hundred years. why we must pay additional money as we are all call Malaysian? To be fair government should count Chinese as bumi too if we are born as the 4th generation Malaysian Chinese,
Hi Sean, about selling bumi property to non bumi, you mentioned about advertising the property on to 3/6 different local newspapers. Is it a requirement tho? Coz I don’t think people use newspaper nowadays. More towards Iproperty/ PropertyGuru. Do you know if that counts?
Hi Iherng, would like to ask is it after successfully transferred from bumi to non bumi buyer, the title will still remain bumi even it is owned by non bumi? Meaning next time if i want to sell to non bumi, i still need to go the same process again which is time consuming.
Hi Shaun, abit late but i have a question. Is there any freehold landed property but is a bumi lot? If so, can it be sold to non bumi since it is "freehold"?
Hi sean, can i know amy different between bumi lot unit and bumi discount unit? Since when i purchase the property the agent mention its different, for bumi discount unit there are no restriction if later want to sell to non bumi. Can please enlighten me.. thanks sean
I'm bumi, already sold my 3 units condo, I landed house, 2 units to non bumi and 2 units to bumi, I didn't encounter any problem....no delay, no state consent, 2 in KL, 2 in Selangor.....
2 units bumi lots since bought directly fr developers, sold to 1 non bumi and 1 bumi. The other 2 non-bumi lots, (1 landed prop) sold to 1 non-bumi and 1 bumi. No tax after 5 years from S&P date. Sold to non bumi in 2015 (latest)
As I last check, there were appeals on their heritage identity to be considered as BUMI. Well thanks for checking on my facts yea=) Let me go check with the relevant authorities...
Always refer to the Land title (Geran) for final confirmation. On your title, there is this category called Restriction in Interest (Sekatan Kepentingan) stating if the land is Malay reserved land or otherwise.
Sean, I recently acquired a property in Penang island. Not sure if it’s bumi lot cause i received 20% discount. Which is a super deal for a condo in the island. All my other friends bought it at a premium. Is there anyway to check if my lot is a bumi lot?
@@orenezzre1990 oh my God why like this ,why majority got lots of benefits but minority don't have. Other countries minority only will get more benefits.
@@ABCD-ys5mv Sorry I miss out your comments. Kindly do enlighten the current economy in Malaysia ( I am not sure you are Malaysian or not). Let me give you a brief situation and why those action is taken by government. Malaysian economy monopoly non-bumiputera (minority) due to British policy back in early 90's. What past let it be past. Those policy's effect still can be shown by statistic bumiputera (majority) hold less than 30% of the economy even up to this day. To make thing worst, as the rich & poor gap widen, it increase the tension between bumi (mostly malay) & non-bumi (mostly chinese) up till it spark one of most bloody situation back in 1969, famously called "13 Mei Incident". Please look it up in Wikipedia. Hundred was dead during this incident between 2 races. Afterwards, our Prime Minister announced DEB (Dasar Ekonomi Baru or New Economy Scheme). Those scheme is to close the gap between rich & poor plus to increase malay (majority) economy to 30% of the nation. Years by years, one of point in the scheme is to include small discount during property purchase. Can you imagine, if specific area has been conquer by specific race? Those will be next Hong Kong or Macau. And this will increase another tension. As multi-racial country, several stupid (some say) action and policy need to be taken to keep the balance & harmony. Again, it not easy to swallow even by me at the beginning, but as I open my mind and understand the root cause, I slowly understand. Note: Those bumi lot is hardly sell due to bumi cant even afford the area/price.
@@cxc94780 Hurmmm its not much pro i can say as the unit is hardly be sold due to the restriction & price. Its more on the social responsibility i thingy. Yes the price is little bit lower (pro) due to bumi discount but investor will definitely avoid bumi lot unit.
Im not MALAYSIAN & Chinesw malaysian I just read fews fighting comment between Malaysian vs Chinese Malaysian about racist. And theyre repeat BUMIS ALOTS TIME. Im curious, what BUMIS IS & MEAN??
![How to Get a Developer Job - Even in This Economy [Full Course]](/img/n.gif)
as a bumi I would try to avoid bumi lots (and also "bumi areas" to be honest). But sometimes hard to avoid because of the discount so if you are in it for a long term (not flipping) its ok la. Not being racist against my own race lol.... but just economics.
one of my favourite 15mins for today! thanks iherng for the knowledge sharing 👍🏻
You're most welcomed. Thanks for watching Max!!
this was super interesting and highly informative. Awesome vid!
For me myself, I don't prefer buying bumi unit because it has a lot of restriction. Furthermore, based on a few recent launches that I visit, the prices are not that different. For example if they give 7% discount to everyone, to bumi buyer it will be 5%+2%, so nothing special there. And worse, the property comes with so many restriction compared to the non bumi lot.
May i know what is written on Sekatan Kepentingan for Bumi and Non Bumi Lot?
Malaysia Chinese feel so disappointed because we unable to buy the property with bumi price even we pay the same income tax, and even we have born after the 4th generation in Malaysia or our ancestor have stay in Malaysia more than 100 hundred years. why we must pay additional money as we are all call Malaysian? To be fair government should count Chinese as bumi too if we are born as the 4th generation Malaysian Chinese,
Great topic Sean. Great job!
Thanks for watching Eddy!! I really appreciate it 😊
Very informative. Good job explaining, even i dont know before this.
Glad it was helpful! Thanks for watching Abdul Salam=)
I will only buy bumi lot that is priced below 500K. Else, I’ll go for non-bumi.
I think for freehold bumi lot can sell anyone without restriction. For leasehold bumi lot, then need state consent. this is my understanding..
Great video iherng. Very clear and objective video on this topic
Glad you liked it Ammar!!
For invest purpose, don't buy bumi lot. Period
Straight to the point!! I like it. Thanks for sharing=)
6 months of marketing and advertising..if failed, then developer can appeal for conversion
Hi Sean, Could I ask how to renew the leasehold period? Where can we get more information from government side?
Thanks for your answer!
Hey Wan, I appreciate the great question. I think lots of people would want to know about this too=)
Hi Sean, about selling bumi property to non bumi, you mentioned about advertising the property on to 3/6 different local newspapers. Is it a requirement tho? Coz I don’t think people use newspaper nowadays. More towards Iproperty/ PropertyGuru. Do you know if that counts?
Hi Sean,
If for 'Strata' bumi-unit (freehold, auction), can a bumi buy it thru auction and sell it a non-bumi later ?
Hi Iherng, would like to ask is it after successfully transferred from bumi to non bumi buyer, the title will still remain bumi even it is owned by non bumi? Meaning next time if i want to sell to non bumi, i still need to go the same process again which is time consuming.
Good information as always. Thank you Sean
Thanks for watching Ryan=)
if I understand correctly, MCL land house can be brought by non bumi?
What's MCL?
Hai boss. Can bumi lot sell to non bumi ? Subsale houses
Hi Shaun, abit late but i have a question. Is there any freehold landed property but is a bumi lot? If so, can it be sold to non bumi since it is "freehold"?
Yes. Freehold and leasehold has nothing to do whether bumi or non bumi. They're both different restrictions.
Great question Cavin!!
Hi sean, can i know amy different between bumi lot unit and bumi discount unit? Since when i purchase the property the agent mention its different, for bumi discount unit there are no restriction if later want to sell to non bumi. Can please enlighten me.. thanks sean
Champion bro again superb content!
Thanks for watching!!
Wow you even know about adat pepatih 🤯
Great info
Glad it was helpful! Thanks for watching=)
I'm bumi, already sold my 3 units condo, I landed house, 2 units to non bumi and 2 units to bumi, I didn't encounter any problem....no delay, no state consent, 2 in KL, 2 in Selangor.....
Any tax? When u sell to non bumi?
Wow that's nice. Thanks for sharing those insights. But those properties are not bumi lots right?
Those are freehold property I assume. Try with leasehold property😅😅
2 units bumi lots since bought directly fr developers, sold to 1 non bumi and 1 bumi. The other 2 non-bumi lots, (1 landed prop) sold to 1 non-bumi and 1 bumi. No tax after 5 years from S&P date. Sold to non bumi in 2015 (latest)
@@dannyho3145 one of them is leasehold
Freehold bumi and leasehold bumi got any differences? Aside than the tenure
so informative..thank you.
You're welcome! Thanks for watching Jerome=)
explained so well
Thanks for watching!!
peranakans are not recognized as bumis
As I last check, there were appeals on their heritage identity to be considered as BUMI. Well thanks for checking on my facts yea=)
Let me go check with the relevant authorities...
not really those perenakan is basically just chnese
As per understanding, bumi unit only applicable for leasehold property right?
Nope. Freehold also got Bumi. I'm just saying the process of getting consent is similar=)
Thanks for watching!
Bumi released can be sold to any races. But if bumi buy den it will back to bumi lot.
Thanks for sharing Haikeler;)
@@iherng no worries mate
Hi, what is your major back in UM
Hi kucing, I took my Masters in Real Estate back in UM=)
Bumi x bumi not bumi not bumi
So non bumi sure cannot buy bumi lot right?
Can, unless the owner appeals to the state government or local authorities=)
Thanks for watching!!
Can non bumi sell to bumi?
Yupe:)
Where does it stated bumi or non bumi property?
It's stated in the SPA Weanu=)
Always refer to the Land title (Geran) for final confirmation. On your title, there is this category called Restriction in Interest (Sekatan Kepentingan) stating if the land is Malay reserved land or otherwise.
Sean, I recently acquired a property in Penang island. Not sure if it’s bumi lot cause i received 20% discount. Which is a super deal for a condo in the island. All my other friends bought it at a premium. Is there anyway to check if my lot is a bumi lot?
Best check with the developer or penang land authority
👍🏻
For me, 3 out of 4 of my unit is Bumi lot, because it was the least i can do to hold or retain a small number of future bumi quota in certain area.
@johan jc is not as racist as you thought when you fully understand a history of Malaysia. It got pro & cons in its own way.
@@orenezzre1990 oh my God why like this ,why majority got lots of benefits but minority don't have.
Other countries minority only will get more benefits.
@@orenezzre1990 and what are some of these pros. Do tell
@@ABCD-ys5mv Sorry I miss out your comments. Kindly do enlighten the current economy in Malaysia ( I am not sure you are Malaysian or not).
Let me give you a brief situation and why those action is taken by government.
Malaysian economy monopoly non-bumiputera (minority) due to British policy back in early 90's. What past let it be past.
Those policy's effect still can be shown by statistic bumiputera (majority) hold less than 30% of the economy even up to this day.
To make thing worst, as the rich & poor gap widen, it increase the tension between bumi (mostly malay) & non-bumi (mostly chinese) up till it spark one of most bloody situation back in 1969, famously called "13 Mei Incident". Please look it up in Wikipedia. Hundred was dead during this incident between 2 races.
Afterwards, our Prime Minister announced DEB (Dasar Ekonomi Baru or New Economy Scheme). Those scheme is to close the gap between rich & poor plus to increase malay (majority) economy to 30% of the nation. Years by years, one of point in the scheme is to include small discount during property purchase.
Can you imagine, if specific area has been conquer by specific race? Those will be next Hong Kong or Macau. And this will increase another tension.
As multi-racial country, several stupid (some say) action and policy need to be taken to keep the balance & harmony.
Again, it not easy to swallow even by me at the beginning, but as I open my mind and understand the root cause, I slowly understand.
Note: Those bumi lot is hardly sell due to bumi cant even afford the area/price.
@@cxc94780 Hurmmm its not much pro i can say as the unit is hardly be sold due to the restriction & price.
Its more on the social responsibility i thingy.
Yes the price is little bit lower (pro) due to bumi discount but investor will definitely avoid bumi lot unit.
Im not MALAYSIAN & Chinesw malaysian
I just read fews fighting comment between Malaysian vs Chinese Malaysian about racist. And theyre repeat BUMIS ALOTS TIME.
Im curious, what BUMIS IS & MEAN??