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    Thread: Property Types

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    1. #1
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      Property Types

      What is SOHO Property?

      Driving along the Klang Valley, Malaysia; there is no doubt that you will begin to see the emergence of SoHo property development. Then you may ask, what is the meaning of SoHo? They sure sound pretty cool.

      "SoHo stand for Small Office Home Office"


      Well, SoHo actually stand for Small Office Home Office. As its name implies, it is essentially a property space where work and stay blends, typically aimed towards service oriented business and young urbanites. This gives home owner a close to city lifestyle with easy access to a wide range of facilities and also the flexibility of working from home.

      "Work and home converges in a SoHo"

      So for instance, imagine an urbanite who lives in a SoHo property. He or she will now have instant access to essential lifestyle needs such as groceries, food and beverages, entertainment, shopping, and major expressways. On top of that, it might probably be a bad idea to travel to work due to the heavy traffic, SoHo gives its tenant the flexibility to work from home.

      However the downside of a this Small Office Home Office is that its built up size can be extremely small. Nevertheless, they are large enough considering both the convergence of today's economy and lifestyle. Because of that, tenants will need to be smart about interior design to fully utilize the small space with innovative furnitures. Hinting Ikea?

      "SoHo built up size can be extremely small.... smart interior design will be critical"

      As of today, a typical built up size of a SoHo ranges between 400 to 800 square feet and priced from RM480 - RM700 per square feet. That sounds pretty hefty for a small space property.

      The next time some one asks you whats the meaning of SoHo, you've got the answer! So what are your thoughts on SoHo (Small Office Home Office) in Malaysia? Will it take off? Will it be a worthy investment?
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      Re: SOHO, SOFO, SOVE

      What is SOVO Property?

      SoVo is a new type of property that is making its mark in KL, Malaysia. SoVo stands for Small Office Versatile Office. It is different than its SOHO and SOFO counterparts in that it is aimed solely for commercial/office purposes. Thus a SoVo is categorized as a commercial typed property.
      Telecommunication and infrastructural facilities come pre-installed into SoVo small offices. Young businesses immediately upstart without the need of worrying about installing them individually.

      Downside of SoVo is that it's a relatively new kind of property in KL which is yet to be seen how effective and popular its reception will be. Due to the small built up size, its high price point, and its location mainly being in the outskirt of Klang Valley, many buyers will be thinking thrice on whether to invest in one.


      As of today, a typical built up size of a SoVo ranges between 400 to 800 square feet and priced from
      RM480 - RM700 per square feet.


      In short, SoVo can be conceived as an Office with Lifestyle element added to it. Occupants will be able to jump right in and start focusing on work without worrying about the nitty gritty details.
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      Re: SOHO, SOFO, SOVE

      What is SOFO property?

      SoFo stands for Small Office Flexible Office. It's similar to SoHo but with an emphasis on the word "Flexible". What that means is that tenants will be able to flexibly turn the office space into anything they wish whether for commercial, residential, or even both.
      In order to provide such flexibility, SoFo comes this huge empty space so you will be able to partition and customize as you see fit. To top that flexibility, you could also buy multiple units side by side and connect them together to form a bigger space for better customization.

      "SoFo stand for Small Office Flexible Office"

      Think about it this way, SoFo is all about "Flexibility". If you're the type of person who loves to customize or perhaps have things your way, SoFo would be one of your property purchasing options. SoHo on the other hand is not about flexibility but rather a combination of both a home and an office. Bear in mind that is if a small studio-like office is part of your consideration.

      "SoFo is all about Flexibility. You customize your office the way you want it to be."

      As of today, a typical built up size of a SoFo ranges between 400 to 800 square feet and priced from RM480 - RM700 per square feet.

      Remember what is SoFo, remember "Flexible! Flexible! Flexible! Have it your way".

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      Re: Property Types

      What is Flat, Apartment & Condominium?

      An apartment (in American English) or flat in British English is a self-contained housing unit (a type of residential real estate) that occupies only part of a building. Such a building may be called an apartment building, apartment house (in American English), block of flats, tower block, high-rise or, occasionally mansion block (in British English), especially if it consists of many apartments for rent. In Scotland it is often called a tenement, which has a pejorative connotation elsewhere. Apartments may be owned by an owner/occupier by leasehold tenure or rented by tenants (two types of housing tenure).


      The term apartment is favored in North America (although flat is used in the case of a unit which is part of a house containing two or three units, typically one to a floor), whereas the term flat is commonly, but not exclusively, used in the United Kingdom, Ireland, Singapore, Hong Kong and most Commonwealth nations.


      In Malaysian English, flat often denotes a housing block of lesser quality meant for lower-income groups,
      while apartment is more generic and may also include luxury condominiums. This usage has also been appearing in British English where apartment is used to denote expensive 'flats' in exclusive and expensive residential areas in.

      In Malaysia, we normally differential as:
      Flat - Low Cost, less parking space, no facilities.
      Apartment - Medium Cost, 2 house share 1 car park (not fixed lot), lift service, small swimming pool
      Condominium - High Cost, every house reserved 1-2 parking lot, 10% of total car park reserved for visitor, facilities like Gym, Hall, swimming pool.
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    5. #5
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      Re: Property Types

      Dear sifu...Just curious... Is there any different between Bumi Quota & Bumi Lot..? Really interested to know the issues involved especially when the property want to be sold to a Non-Bumi.....

      Thanks in advance....
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      Re: Property Types

      In Malaysia property scene, a Bumi lot cannot be sold to a non-bumi. The property must always be in the bumi's name. No two way about it because it is controlled by the local Land Office.

      Bumi quota, on the other hand refer to a block of properties e.g. houses, condos, or apt that is reserved for bumi to purchase. If the quota cannot be sold, the developer may apply (though very hard to be approved) for the unsold units to be converted to a non-bumi units.
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    7. #7
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      Re: Property Types

      Quote Originally Posted by lordwood View Post
      In Malaysia property scene, a Bumi lot cannot be sold to a non-bumi. The property must always be in the bumi's name. No two way about it because it is controlled by the local Land Office.

      Bumi quota, on the other hand refer to a block of properties e.g. houses, condos, or apt that is reserved for bumi to purchase. If the quota cannot be sold, the developer may apply (though very hard to be approved) for the unsold units to be converted to a non-bumi units.
      Thanks for the info bro... Agreed on the Bumi Lot points, it was clear-cut... Cannot be sold to Non-Bumi... But for the Bumi-Quota, are the units predetermined..? Or its base on ratio regardless which unit?

      On a different note, if let say a Bumi buyer buy a property, and get Bumi discount, is the unit he bought automatically considered as Bumi Quota??
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      Re: Property Types

      Juz let u know here, PKNS (Perbadanan Kemajuan Negeri Selangor) will launch 100units Rumah Semi-D Kos Sederhana at Taman Selayang Mutiara, Jln. Sg Tua.

      Event : 12 Okt 2013 (Sat)
      Venue : Sample House, Taman Selayang Mutiara
      Concept buying : Siapa cepat bersama cash, bank deraf RM5K dia dapat


      Spec :

      Lot : 30 x 73
      Building : 20 X 50
      3Bed 2Bath

      Price

      RM315000 ~ Rm360000

      Kouta - 70 malay, 20 chinese, 10 india.

      Benefit:
      Pinggir Kuala Lumpur
      Landed
      Future project in front of site - Selayang Mutiara Sentral (like Festival City)
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      Re: Property Types

      Quote Originally Posted by rimjob View Post
      Juz let u know here, PKNS (Perbadanan Kemajuan Negeri Selangor) will launch 100units Rumah Semi-D Kos Sederhana at Taman Selayang Mutiara, Jln. Sg Tua.

      Event : 12 Okt 2013 (Sat)
      Venue : Sample House, Taman Selayang Mutiara
      Concept buying : Siapa cepat bersama cash, bank deraf RM5K dia dapat


      Spec :

      Lot : 30 x 73
      Building : 20 X 50
      3Bed 2Bath

      Price

      RM315000 ~ Rm360000

      Kouta - 70 malay, 20 chinese, 10 india.

      Benefit:
      Pinggir Kuala Lumpur
      Landed
      Future project in front of site - Selayang Mutiara Sentral (like Festival City)
      Bro rimjob..related dengan industri ini ka?and if can please link to any source for more info..thankyou.

      Sent from my HTC Sensation XE using Tapatalk 2
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      Re: Property Types

      Quote Originally Posted by rtb View Post
      Thanks for the info bro... Agreed on the Bumi Lot points, it was clear-cut... Cannot be sold to Non-Bumi... But for the Bumi-Quota, are the units predetermined..? Or its base on ratio regardless which unit?

      On a different note, if let say a Bumi buyer buy a property, and get Bumi discount, is the unit he bought automatically considered as Bumi Quota??
      Most of the time, Bumi lot is pre-determined before launch based on the ministry guideline quota. Easier for developer and buyer to identify the units which is bumi and non-bumi.

      On Q2, not necessary if Bumi get discount it auto became a bumi lot. So say if you buy a non-bumi lot but you get a 7% to 10% discount, that lot is still considered a non-bumi lot.

      All the caveats will be stated in the S&P agreement. That's why you need a lawyer to help you. All the best bro!
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      Re: Property Types

      Since you guys already open the threads, maybe some otai2 can share their experience on the property since here lot of youngster eager to learn and wanna grab the chance to buy new property for their own. Juz my suggestion =)
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      Re: Property Types

      Just a reminder- If you plan to Bought a Sofo/Soho/sovo

      Be reminder, margin or finance is 85% only, so need to forked out 15% out of pocket money.
      Since Sofo/sovo/SOHO can only Be build In commercial title land only. Considers commercial Property.

      If you are burying under company name, then margin of finance will Be 60% only, depends On banding institutioon. Beware of That

      But, whatever IT is, remember, NEVER SIGN S&P BEFORE SIGNING LETTER OFFER.
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      Re: Property Types

      Quote Originally Posted by Kvatira112 View Post
      Just a reminder- If you plan to Bought a Sofo/Soho/sovo

      Be reminder, margin or finance is 85% only, so need to forked out 15% out of pocket money.
      Since Sofo/sovo/SOHO can only Be build In commercial title land only. Considers commercial Property.

      If you are burying under company name, then margin of finance will Be 60% only, depends On banding institutioon. Beware of That

      But, whatever IT is, remember, NEVER SIGN S&P BEFORE SIGNING LETTER OFFER.
      How about service apartments on commercial land?
      Slowing down nowadays but still looking for an excuse to monger once in a white.
      Hit me on PM if you are looking for a kaki.

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      Re: Property Types

      Service Apartment kira residential, so dapat margin of finance- 90%

      TAPI- SBB commercial - letrik, air akan guna rate commercial(mahal cikit La)

      NeXT year GST- akan kena untuk elektrik, utk air x pasti. ( Selangor ok kot-20m3 free)

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      Re: Property Types

      Hi All..

      I have question regarding transfer of property from owner to purchaser.... I bought a leasehold condo property last year the owner is a Bumi ... the previous owner was an Indian..... the property is not a Bumi lot.... However, since purchasing the property last year the KL Land office has rejected the transfer of the property twice .. even though the bank loan has been approved. The reason for rejecting the name transfer is that the property is being sold from Bumi to Non -Bumi .... Does anybody have any advice or previous experience with a similar situation?
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      The More The Merrier !!!!! "Selling is legal. Fucking is legal. Why isn't selling fucking legal? Of all the things you can do, giving someone an orgasm is hardly the worst thing in the world." - George Carlin, comedian, writer,

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