12/07/2021
🏠 FREEHOLD:
- Freehold means you own both the property and the land indefinitely (because the government can still take back the land in the case when they want to use it to build public transport/highway etc).
- But for freehold high rise, it doesnt mean that buyer owns the land anyway, cause the land is still owned by the developer.
✅ Pro: More freedom on what you want to do, no need to worry when leasehold is due and need to pay for renewal fee
❌ Con: 💵 Generally MORE EXPENSIVE compared to leasehold $$$$
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🏢 LEASEHOLD:
- Let's say 99 years leasehold, basically means that the developer rent the land from the government for 99 years
- Means the government will own back the land after 99 years.
- BUT most of the new projects now can be renewed after the 99 years.
✅ Pro: 💵 Generally CHEAPER compared to freehold
❌ Con: Need to apply if you want to make any changes/reno, need to think about renewal and pay for renewal fee when lease period is up $$
🌟 Do note that in KL/Selangor area, about 80-90% of the new high rises are leasehold now.
