Monday, June 28, 2010

my way or no way...

I still remember someone asking me that if given a choice of two properties with identical specs, apart from one being freehold and the other leasehold priced 20% lower than the former, which would I choose.

I chose the latter, without hesitation.

I won't be discussing my reasons for doing so, especially so since it's going to derail from today's topic.

But if someone's going to come up to me and say that when you buy freehold you own the land, I'd say bull and go flip today's paper to see what's the latest crap.

In Malaysia, it doesn't matter whether you buy free- or leasehold, 10- or 99-years lease, if your government suddenly decides during their teh tarik session last night that they want to acquire your land to build a Legoland they'll just issue a statement of compulsory acquisition and you're left there screwing your own behind yourself.

In Malaysia, the freehold title is as precious as toilet paper, you can use it to wipe your @$$ and flush it down the toilet, nobody gives a damn.

1 comment:

Alex said...

The problem in America to get financied for leashold land is very diffucult i do not know about where you live. But being freehold here is much easier. The government can do the same here but it has to be market compenstation for the land.