Friday, March 30, 2007

Going Back to My Home Town

This is to inform that this Saturday morning I’m flying back to my hometown where I born. It has been 4 years that I have never gone back there. I miss the place so much. Most importantly this is the place where I enjoy my doggie life. So I will be off for 1 whole week and will not able to update this blog.

My hometown is called Taman Sibuga, Sandakan, Sabah, Malaysia. I bet you’ve never heard about it. It is okay, it is a very small town in east Malaysia. Well, that’s all I have to say and one last thing is I’m in holiday mood now. :D

19 Comments:

Valerie "Natural" Morrison said...

Have a great time and a safe trip and take pictures. Look forward to your entry when you get back.

ChampDog said...

Thanks a lot for your comment and I really happy to see your message. I'm safely arrived at my hometown last night and my parents cooked a very well dinner to me (all kinds of seafood, big fish and big prawn). Wow, I missed my parents cook so much. :)

This morning I went to visit my grand pa and mum who left us (left the world) last year. I really miss the time we had together when they are still here. The point is we don’t really have very good talk. Sometimes, we just need to appreciate the person while they’re still besides us.

Well, luckily I found a coffee shop here which provides free internet access. Therefore, you still can see me replying this message.

Tomorrow morning, we will drive toward to KK (Kota Kinabalu, Sabah, Malaysia – in case you don’t know) and have a good family time there. Of course, I will go and see the house that I bought for investment and stay there for few days.

Hope you have a good time too. :)

Anonymous said...

cool. u have an investment in KK. I should borrow it on my next return :P (kidding)

Kris said...

Hey, ChampDog, since you are a sabahan, i want to ask you about property investment in Sabah.

There is a developer selling condominium in Sabah.On the S&P, there is 2 names: The non-bumi developer and a chinese name (lets say Mr.A), however the land has native title.

I was wondering, can a non-native aka chinese like me buy a condominium built on native land, assuming that the Mr.A is an anak negeri holder.

I try to google but cannot find a good answer to this. :(

ChampDog said...

To be honest, I really don't know the answer. I can try ask my dad see if he knows because he owns and helps his relative to buy property there before.

I only know strata and individual title. Is there a thing called "native" title? Seems like you already know more than me. :) Why? You're into Sabah property?

Kris said...

Yes.. For Sabahan, native land can only be bought by "anak negeri", meaning the bumi's born in Sabah.

West Malaysia or Sarawakian bumi's cannot buy Sabah's native land. It is a special privilege for Sabahan. From my googling, the only land in Sabah that is truly freehold or perpetuity is Native land.

P.S 999 yrs or 99 yrs land lease is not considered free hold.

Yeah..my friend is recommending me to invest. Sabah property is booming very fast since the development there is becoming very rapid.

ChampDog said...

Thanks for the information. :) If this the case, the whole condo units should all bumi lot, then you're not suppose able to buy.

How about Penang? I'm going to buy a landed property in Penang soon.

Kris said...

Hehe..i just managed to find it. Where else to find it..see the law of Sabah! Land Ordinance.

http://www.sabahlaw.com/landord.htm

Looks like I (non-native) can buy :P I saw that the premium was paid to the government hence my property is not freehold as stated earlier in my post since the developer bought it over.


17. Land dealings with natives.

(1) Except with the written permission of the Minister all dealings in land between non-natives on the one hand and natives on the other hand are hereby expressly forbidden and no such dealings shall be valid or shall be recognised in any court of law unless they shall have been entered into and concluded before the 16th day of January, 1883, or in the terms of the next following clause.

(2) Any non-native desirous of purchasing land from a native shall address his application to the Secretary of Natural Resources who, if he sees fit to sanction such purchase, shall, if the native owner consent, require such native owner to execute a memorandum of surrender of the title and shall fix the premium and rent at which the land shall be leased by the Government to the applicant and such new lease shall be issued under Part II or III.

(3) Nothing in subsection (1) or (2) shall be held to prevent dealings in land between any non-native and a native who is the holder of a lease issued under Part II or Part III in respect of such land.

Kris said...

For Penang, you might want to do research on Semi-D as compared to terrace houses. They have more room to appreciate more according to my friend. Make sure is freehold though.

Heck, i even saw a research that the reason why Semi-D does not appreaciate much as compared to terrace house is that Penangites has a very small family, hence the preferance for terrace house even tough it is smaller and expensive.

Which one will you buy??

RM1.1M for Semi-D or RM1M for Terrace house. There is a disparity of prices in Penang..hehe

Good luck, Bro.

ChampDog said...

Wow! Thanks again for the sharing. :) Can't believe this "going back to my home town" becomes a native title discusssion. :D lol

ChampDog said...

I wanted semi D but it seems like already over my budget. I don't see any semi D (nice one) at RM 1.1 mil. Now is selling at RM1.4 mil in average for a semi D in Penang island.

Kris said...

I remember that you are a Sabahan :P

Since I see that you are an active property investor, so i thought to ask you ..hehe

Did you hometown property appreciate? According to survey, Sabah's property gained the most in the whole of Malaysia.

ChampDog said...

I'm in fact a passive property investor because I don't goreng the price!

As far as I know, I think it just appreciates at normal rate (e.g. 6% or less). I need to confirm that as I kind of forgot already and that was like 2 years ago, so it could be outdated.

So what does the survey say? How many ROI in terms of % for annual?

Kris said...

Sabah is around 170-180% gain is i am not forgetten. More that Penang also.

ChampDog said...

In annual wor...

Kris said...

i think so ler..see here

http://ooibenghooi.blogspot.com/2011/03/return-of-property-investment-in.html

ChampDog said...

How do you come out 180%? :D

Kris said...

Sorry ah..i see wrongly. Should NOT be 180% per year.. I roughly see before this chart..had to google back to find which site it was..P

The correct should be increase 2.22x as compared to year 2000. So in ten years, your property in Sabah should double according to that table.

ChampDog said...

So it should be roughly about 7.2% based on the rule of 72.


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