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Wednesday, August 6, 2008

Malaysian Home Buyers Guide (Part 3)

4. Check on The Home: Is It A “Landed Home” or “Strata Home”?

This check is important because the Malaysian housing development law (the HDA & HDR) imposes different periods for completion and standard Sales & Purchase Agreements:
  • For “landed homes” (such as bungalows, semi-detached houses and terrace houses) the legally expected date of completion is 24 months from the date of signing of the Sales and Purchase Agreement (SPA) as per Schedule G of HDR 1989; whereas,
  • For “strata homes” (or sub-divided homes, if you like, such as condominiums, flats, apartments and townhouses) the expected date of completion is 36 months from the date of signing of the SPA (as per Schedule H of HDR 1989).

Your rights as a buyer of Malaysian home or housing accommodation must be understood as contained in the Sales and Purchase Agreement as per either schedules G or H of the Housing Development (Control and Licensing) Regulation 1989, whichever is applicable.

Douglas.

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