A leasehold property is one where the land is owned by the state or a landowner, and the person holding the lease is given the right to use the land for a specified period. This period can range from 30, 60, 99, or even up to 999 years. Most residential leasehold properties in Malaysia tend to start with a 99 year lease tenure. However, once the lease term ends, ownership reverts to the state or the original landowner. To prevent this, owners will need to apply to get their lease renewed before the term ends. However, it is important to know that not all leasehold renewal applications get approved as it is subject to the state's plan for development.
In Malaysia, leasehold titles are common, particularly in areas where land is scarce or urbanised. While a leasehold property may seem similar to freehold ownership, it comes with key differences that can impact your investment and long-term plans. Knowing the land type is important before making any big decisions on your property. Click here to know more about the differences between a leasehold and freehold properties.
In Malaysia, leasehold titles are common, particularly in areas where land is scarce or urbanised. While a leasehold property may seem similar to freehold ownership, it comes with key differences that can impact your investment and long-term plans. Knowing the land type is important before making any big decisions on your property. Click here to know more about the differences between a leasehold and freehold properties.