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27.12.13

废除DIBS可抑房价?

很多人说,上一代的人是幸运的,因为在大马房价还不很高的年代,一般的人都买得起房子。 而这一代的年轻人,都说是痛苦的,因为在大马房价很高的这个年代,大多的人都买不起房子。 尤其是在吉隆坡这个大都会,... read more

27.12.13

买方卖方皆关注 2014房事

在重重降温政策下,分析界大多看淡我国明年的房产市场,业界人士也坦承明年价格升幅料持平。在这样的情况下,是否意味着我国房市将从“卖方市场”,转向“买家市场&rdquo... read more

27.12.13

买卖房屋应负的责任

时代不断在变换,科技瞬息万变,税收局为了与时并进,早已推行了电子报税系统。 在科技的协助下,税收局要取缔逃税者已是轻而易举的事。因此,身为精明的纳税人在规划税务,省税的同时,更要履行纳税人的责任,避... read more

14.12.13

外资买房 喜与忧

我国房地产需要外国投资者吗?这是个辩论已久的课题。 基本经济学指若需求增加,如果供应不足,价格会增加。 吸引外国买家,产业需求增加,房价自然上涨。 但如果外国买家进军大马产业导致过多的炒房活动,... read more

14.12.13

善用公积金买房

受雇人士每个月都缴公积金,除了为了保障退休生活,公积金也可助你实现购房的目标。 除了首期,你也可提取公积金偿还第一间房子的贷款。 若是第一间房子已换名或转售,你可提取公积金购买或偿还第二间房子的贷... read more
FREE HOLD vs LEASE HOLD

Freehold means you can enjoy ownership in perpetuity (for ever).Owner has the complete and absolute ownership of the land, and all buildings that stand on the land. Freehold is thus more preferable and fetches a higher price.When you sell freehold land with a house, there are no state consents required when the sale is made. For these reasons, freehold properties ( in the case of a flat, a property with a share of the freehold) are usually more desirable than leasehold.

Advantage of owning a freehold property is the potential of a windfall from a collective sale. If the value of the freehold land increases while the value of the ageing building declines, it could reach a stage where the redevelopment value of the property is worth more than the utility value of the existing building. As a result, the property owners may find a collective sale of their property to a developer to be highly profitable.

 

Some developers looking to acquire residential land for development may also prefer freehold land to ageing 99-year leasehold property because freehold land would not require the payment of a hefty premium for extending the lease. For all these reasons, freehold residential properties are generally priced higher than 99-year leaseholds. The price range of freehold non-landed properties is also wider than that of comparable leasehold properties. Depending on the location, freehold property prices may increase. The majority of high-end residential properties are freehold

For investors, one disadvantage of freehold property is the lower rental yield, a function of the higher cost of the property. While freehold properties have a higher likelihood of a collective sale than their leasehold counterparts, that can prove to be a double-edged sword. The property boom of 2005 to 2008 whipped up a collective sale frenzy. But some property owners who sold for a windfall found they could not get a replacement home in the same location from their proceeds. As the collective sale boom was powered by surging property prices, by the time en-bloc property sellers received their proceeds, the prices of comparable replacement homes would have moved out of reach.

 

 

Now, we look at the price performance of freehold and leasehold properties. Although freehold properties are usually priced higher than their leasehold counterparts, their rate of appreciation does not always outperform.

Though houses can be leasehold, this type of ownership applies more usually to flats. Under a leasehold agreement, you own your property only for the period stated in the lease. Lease hold ownership of a flat fundamentally means a long tenancy - the right to own, occupy and use a flat for a long period known as the 'term' of the lease.

Leaseholders may not be totally free to do what they wish to in or with the leasehold property. The lease itself has its own conditions, to protect the rights of all those with an interest in the building.

When a flat is sold, the seller passes all the right and resposibility of the lease to the purchaser, including all future services charges that have not been identified.In some cases, leaseholders have the right to extend their lease or even buy the freehold.

Because leasehold is, in effect, a form of tenancy, an annual fee (known as ground rent) is payable to the landlord (that is, the freeholder or his managing agent). Ground rent may be a nominal sum. A maintenance (or service) charge is also levied, to cover things like managing the building, external redecoration and repairs, gardening, window cleaning, buildings (though not contents) insurance, and so on. Such charges may rise annually without limit, but they are required by law to be reasonable.

The leaseholder usually owns everything within the walls, including the floorboards and plaster, while the freeholder owns the structure, the land on which it is built, and the common parts (which include communal entrance halls, staircases and so forth). The freeholder may be an individual, a company, a local authority, a housing association or a residents’ management committee, under which leaseholders join forces to buy the freehold of their building.

Advantage of lease hold is that it assigns clear responsibilities for upkeep and repairs, protecting individual leaseholders in the event of, say, a leak from a flat above. On the downside, it can be more difficult to obtain a mortgage on a leasehold property; much will depend on the length of time the lease will have left to run after the end of the mortgage term.