From CK, a viewer from Kota Kinabalu who wrote in by email
CK is 32, single and working overseas, earning about RM30,000 a month net and saving about RM20,000 of it, with savings and investments well over RM1 million in total. Last year she bought a RM850,000 dual-key unit in Kota Kinabalu, due in 2026. She is now eyeing a fully furnished low-floor subsale unit in Cheras listed at RM500,000, which her siblings have viewed, for positive cash flow. Her parents worry about the market.
Is a second purchase this soon too aggressive, what happens in a subsale after she says yes, and will falling birth rates leave Malaysia with China-style oversupply?
“I do think the subsale unit is okay.”
Not too aggressive for her income and finances, and the building rents well. But as a member of a bulk-purchase club she should also weigh completed unsold units, which offer a subsale's certainty with a developer's discounts. Demographics will hurt outlying areas and big houses, not city units with job-driven demand.
Why
A subsale takes about 18% in cash
She pays a 3% earnest deposit, RM15,000, and has about 30 days to get a loan; the remaining 7%, RM35,000, is due at the SPA, followed by stamp duty, valuation and legal fees. Budget about RM90,000 for a RM500,000 unit. Transfer takes five to six months for freehold and seven to eight for leasehold, which needs state consent.
One lawyer is cheaper and faster
Separate lawyers for buyer and seller are safest, but sharing one, usually paid by the buyer, saves money and back-and-forth. Using the agent's recommended bankers and lawyers is fine, because loan terms depend on your profile.
Completed unsold units combine both
Like a subsale, you can see the building, neighbours and tenants; like a new launch, you get the developer's package and often a one-time defect repair. With building costs up from about RM300 to RM380 to RM400 per sq ft, older completed projects can also have better finishes than new launches.
Fewer families means smaller city units
Ageing countries still have unaffordable city homes, as in Tokyo, Beijing and Shanghai. Sean expects less demand for mansions and far-flung houses, and more for compact units near jobs, from singles spending on what they want rather than what a family needs.
What to do
- Check rents for the building on property portals, including room-by-room rates.
- Reserve about 18% of the price in cash before committing to a subsale.
- Plan how you will sign documents if you are abroad, since a subsale involves several separate payments and papers.
- Compare the subsale with completed unsold units available through your club.
- Buy in urban areas where rental demand is driven by jobs.
Editorial Note: Summarised from Sean Tan's full episode. The quoted answer is in his own words; the rest is our paraphrase. Figures reflect the recording date, so check current rates and rules before acting on them.
ASKING SEAN #290 | COMPLETED UNSOLD UNIT IS THE HACK (FOR NOW)
Sources & Verification Data
Summarised from Sean's full English captions for Asking Sean #290. The quoted answer is verbatim; everything else is paraphrased. Figures are as stated in July 2025. Sean is a customer of FAR Capital, the bulk-purchase club CK has joined, not its owner, and he bought a completed unsold unit in Johor Bahru through it.
