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Malaysia Property Types

Property terminologies are one of the most basic things you need to get right before you venture out to visit properties with real estate agents. Here's a list of the more common types of properties that are available in Malaysia.

Developer / New
Sub-sale / Secondary
Auction
Commercial
New developments that are purchased directly from property developers upon viewing the plan and/or show units.
Existing properties that are purchased from a seller who is not a developer.
Existing properties that are available at a below-market prices.
Properties that are mainly used for business purposes such as malls, offices, and so on.
There is a 'build-then-sell' properties, where developers complete construction before selling units.
These units are usually occupied by owners and/or renters, or are vacant.
Sold on 'as-is-where-is' basis. No guarantee is given on Vacant Possession and titles.
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Note: For auction properties, sometimes it is not possible to inspect the interior of the property, but to rely on information given is a risk that the bidder has to take.
The three major property types
Land
Land status can be checked at the Land Office or the State Land Registrar.

Freehold land

 

Leasehold land

 

Malay reserve land

Commercial
These days, commercial buildings often combine functions e.g. retail on the lower floors and offices on the upper floors.

Retail lots / stores

 

Shopping centres

 

Shop offices

 

Shop houses

 

SOHO / SOFO / SOVO

 

Commercial buildings

 

Factories and warehouses

Residential
Solely used for residential purposes, not for business or office purposes.

Apartments

 

Serviced apartments

 

Townhouses

 

Condominiums (Studio, standard, penthouse, duplex)

 

Terrace houses (single or double storey)

 

Semi-detached houses

 

Bungalows

Further explanation on the three land types
Freehold
Leasehold
Malay Reserve Land
The tenure of freehold land is for life. You own the land, the unit, the building and anything that is on the land. There is no time limit for the owner and the freehold land lies with the titleholder until the property is transferred to someone else.
Leasehold land is returnable after the expiry of the lease period. This type of land usually belongs to the government and the lease is often for 99 years. When the lease expires, the government can take back the land or lease it further. At the end of the lease it is fairly easy to renew the lease for a further 99 years upon payment of a premium based on the current market value of the property. It is also possible to arrange for a new lease during the period of the existing lease.
Malay Reserve Land is land that is exclusively for Malays or Bumiputeras. It cannot be sold to other races, including foreigners.
* All data and information is correct at time of upload. These articles are for information and basic educational purposes only.
Consumer experiences may differ depending on location or other factors.
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