House prices skyrocketting

[ng]

What are the causes of the steep increase in house prices these 2 years ? 2010 and 2011 ?

http://www.starproperty.my/PropertyScene/TheStarOnlineHighlightBox/12296/0/0

[tupai]

piecea najis lembu to come outta the 'REAL estate industry players' when they were the one$ protecting & enriching their own intere$t. they were/are cohort to the marauding pack of wolves building & $elling to mainly $peculator$, aided by low 5-10% down payment, no ineterst for 36mths etctec...the gomen are also at fault here and the pu$$yfooting 30% on 3rd hou$e $peculation aint gonna $top theo$ who cari makan from such $ector lah!

I say, let the free market prevail$. Let it expand or contract at its own ri$k.

When pu$h come$ to $hove, only the $peculator$ will get (badly?) burnt...and give 'em the credit, they know the high ri$k, high gain game. Ce$t la vie. :cool:

Yang Ada Beli Rumahmonopoli@mayfair&parklane ToonIstimewaUtama xlatotupai :cool:

[leetickseng]

In our neighbouring country, the authorities play the regulatory role extremely well to ensure all its rakyat will eventually afford to have a house of their own. Over here, the house prices are practically manipulated and controlled by greedy developers, real estate agents and investors. To make things worst, the authorities did not know how and what to do. What is the point of making available loans or so-called affordable inferior quality houses else where? These initiatives only benefit the bankers and developers, while the buyers are still the end losers.

[patrick]

It's happened before, and it will happen again. Like Lato noted, too many negative factors. It happened here before, it happened in the US recently, and it will happen here too. Let these greedy ones burn in their own greedy pursuit. Lets be patient and wait......to benefit from their greed and downfall. People's memory is always rather short.

[Rhiga]

Recently, I visited a so-called lake view property “soft launch”, located pretty close to one of the apanama hideouts in Putrajaya..

I can't believe what I experienced in this so called “soft launch”: :eek:

1) specifications not ready YET i.e you won’t know what tiles, what wood flooring, what bathroom fittings etc., etc. that will be put into the house.

2) no floor layout ready YET i.e. you don’t know whether your unit is adjacent to the rubbish room or your main door is just in front of the lifts, etc.

3) price is only indicative i.e. after you place your booking deposit, the house price can still change later and of course the change is upward..!!

And, the agony/reality is almost ALL the good view one are SOLD… !!!! :eek:

Oh, I forget to say it is more than rm400/sqft !!

I only can say – either people are too rich to try their luck or they are really born to be suckers !!!!

[fonzie]

Here's an interesting blog entry on this issue....echoes of 2008/2009 subprime thingy.....

http://alphachart.blogspot.com/

Cheers!

[SiangMalam]

We buy a house to live in, not to re-sell, or is it?

Unless we have extra cash / house, why even think about price skyrocketting?

[fonzie]

How not to think about prices skyrocketing, when you are now joining the newly-married category and wish to stay with your wife/husband and start a family...? Prices just shoot through the roof the past 2 years!

I think I'll need to ask Obama for a loan of one of their Titan rockets (since their space program has ceased) and launch it to chase after the house prices here...LOL!!!
:eek: :eek: :eek:

Cheers!

[ng]

How not to think about prices skyrocketing, when you are now joining the newly-married category and wish to stay with your wife/husband and start a family...? Prices just shoot through the roof the past 2 years!


Cheers!

Last year it shot up to 30%, this year another how many % ?

Prices are really crazy and people are still buying
:eek:

[zinglicious]

Recently, I visited a so-called lake view property “soft launch”, located pretty close to one of the apanama hideouts in Putrajaya..

I can't believe what I experienced in this so called “soft launch”: :eek:

1) specifications not ready YET i.e you won’t know what tiles, what wood flooring, what bathroom fittings etc., etc. that will be put into the house.

2) no floor layout ready YET i.e. you don’t know whether your unit is adjacent to the rubbish room or your main door is just in front of the lifts, etc.

3) price is only indicative i.e. after you place your booking deposit, the house price can still change later and of course the change is upward..!!

And, the agony/reality is almost ALL the good view one are SOLD… !!!! :eek:

Oh, I forget to say it is more than rm400/sqft !!

I only can say – either people are too rich to try their luck or they are really born to be suckers !!!!


You should have seen the ones at Desa Park City. Soft launch became hot rocket launch!!! 1 hour - all bookings taupau before you can even think or blink about sinkling in 1 million ringgit investment!!!

[bugbear]

You should have seen the ones at Desa Park City. Soft launch became hot rocket launch!!! 1 hour - all bookings taupau before you can even think or blink about sinkling in 1 million ringgit investment!!!
This show that the rich are getting richer while the poor is getting poorer. Not good. Anyhow i refuse to participate in this mad race and just bidding my time to see when the whole bubble will collapse someday. :D

[gtl]

do you guys think areas like bangsar or KLCC area prices will drop? i dont think so.

[zinglicious]

This show that the rich are getting richer while the poor is getting poorer. Not good. Anyhow i refuse to participate in this mad race and just bidding my time to see when the whole bubble will collapse someday. :D

Many syndicated buyers are there to buy and push up the pricelah. In fact, one syndicated group bought something like 30 units two years ago and sold up to 90% of units. What they are holding is bonuslink free! What is amazing is that the locals are buying it either out of fear or greeds. Only time can tell whether the music will end.....

In fact, the buying boom of properties has busted in USA, people are resorting to rents insted of commitment to own one.Factors like long mortgage cost, job security and economy are the issue. Right now , it is at the bottom of houseownership rate in USA since the 80's. :eek:

[ivanhow]

1PM & co has been talking about cheap affordable homes below 220K with 100% loan for all those earning 3K and below. Do u think this will take off, or just talk2 ??? With lotz of MRT & xRT criss-crossing the greaterKL in time2come, this may take in the form of homes in or above the sky...
Can we still find apartments below 220K within the 1GreatKL these days?

[jan tomaswaki]

IMHO,i think the problem is ppl just can't afford to pay the 10% deposit,that's why nowadays developers ask for 5% with free S&P and legals fees thrown in.But for new houses and condo going for at least RM700K,how to afford.Anyway ppl can still buy second hand cheaper units to start with and after paying off,change to a bigger unit.That's what i am doing all these while. ;)

[fonzie]

One suggestion.....google for house auctions. Then survey/recon these properties. Make a decision. Then renovate your purchase.

I think it is better than buying new and paying through your nose...!

Cheers!

[leetickseng]

Sadly and true, house auction prices are really controlled by bankers and may not be better if you consider the broken-down condition and the all the hassles and tussles of getting the renovation approval and doing the renovation itself. Eventually, it may cost you a bomb too. I don't see any other better way to solve this issue at the macro level other than to tackle it's root cause. In this regard, the authorities must play their regulatory role well in the interest of its rakyat and should not compromise when it comes to basic human needs such as education, health and housing industries. Don't just simply leave it to the market forces but regulate them instead. Of course, you need a good clean transparent government to do it.

[shamburke]

the price shoot up like rocket eh??

I was browsing thru last year sept/oct.. price was in the range of RM350-400K..now RM550K lerr..walaweii... now do no... sell or no sell???
sell ??/ then got to buy further away.... hmmm... but frankly.. USJ is a nice place to stay and get old..... hahahahahahah...

apparently within Shah Alam/SJ/USJ or even puchong... there is only one football field that accepts old ppl like me playing with them and mix with malays/chinese/indians/singh/sbahan/sarawakian even indon lerrr ..... hahahaahhah

[ivanhow]

IMHO,i think the problem is ppl just can't afford to pay the 10% deposit,that's why nowadays developers ask for 5% with free S&P and legals fees thrown in.But for new houses and condo going for at least RM700K,how to afford.Anyway ppl can still buy second hand cheaper units to start with and after paying off,change to a bigger unit.That's what i am doing all these while. ;)
So, does that mean that with 1PM's affordable home ownership program, with 100% loan, there will be more take-up rate with apartments selling at RM220K? Seems like a possible solution to the problem, u think so?

[cskok8]

a good clean transparent government

Corruption is the root of most of our country's problems. Once it can be removed, everything else will fall in place

[jan tomaswaki]

So, does that mean that with 1PM's affordable home ownership program, with 100% loan, there will be more take-up rate with apartments selling at RM220K? Seems like a possible solution to the problem, u think so?

Ppl will be choosy where location is concern.I think the best solution is like what DBKL is doing-renting to you for RM124p/mth .Nowadays DBKL built quite a nice apartment with about 700sf/3rooms. :rolleyes:

[tupai]

So, does that mean that with 1PM's affordable home ownership program, with 100% loan, there will be more take-up rate with apartments selling at RM220K? Seems like a possible solution to the problem, u think so?

bolehland will soon be staring down the subprime mortgage-crisis. All the BNumbo-experts need to do is check out the below Rm200K, no, heck! Below rm100K auction list to see who are the loan defaulters (made worst by under-officiated inflationary impact)

HAHAHAH....Rm1,200 minimum repayment over 30yrs on full rm200K loan. Sure or not can service? Add the proton, higher utilitie$, food cost, collateral damage$ in incremental$ dll...*pensang leow*

Those buying multiple RM0000000 properties? Good 4 'em. They all know something Yang Blur doesnt know.... :confused: :confused:

Yang Amat Blur ToonIstimewaUtama xlatotupai :confused: :confused:

p/s watchit, interest rates will be going up soon...

[Hopefull]

The cause of exhorbitant houses is because these rich tycoons are investing in houses and hoping to be multi millionaires. I do hope the bubble will burst soon and teach them a lesson so that the unfortunate poor ppl will be able to afford cheaper houses.

[tupai]

The cause of exhorbitant houses is because these rich tycoons are investing in houses and hoping to be multi millionaires. I do hope the bubble will burst soon and teach them a lesson so that the unfortunate poor ppl will be able to afford cheaper houses.

hello, its not the rich tycoons lah... its the blur sotong middle class coolicutives trying to flip and make quick bucks lah. Go do more research b4 u simply tembak the 'rich' people only.

The rich tycoons do not buy houses lah...they buy low cost agric land, convert to commm&resi, build to sell profitably to blur sotong working class-coolicutive-tycoon-wannabes! :cool:

Yang Ada Beli lowcost T.I.U. xlatotupai :cool:

[mick123]

not too sure if it is the increase in the prices of used houses that is drving up price of the new house launches or is it the other way round. just look at the prices of new launches around town - fair value or not? even if the property bubble go bust, i don't think the prices will plummet - maybe just the few desperate ones.

[Raikonen]

With the increase in electricity tariff, major building materials prices like steel will shoot up, pushing houses of prices up further..i think property prices have more upside for this year at least another 15-20%....

Pity the young generation...I still remember buying my first house in Johor Bahru ages ago...A 5000 sqft semi d at only RM30K..

Now cost probably half a mil..

[rakyat]

not too sure if it is the increase in the prices of used houses that is drving up price of the new house launches or is it the other way round. just look at the prices of new launches around town - fair value or not? even if the property bubble go bust, i don't think the prices will plummet - maybe just the few desperate ones.

I can assure you it is the other way round - new launches pushing up prices and used/ completed houses following albeit slower pace.

Developers are taking abvantage of the situation to push up the asking prices for every succesive launch.

BTW Da Men (USJ1) blockA sold out even before launch @ RM650 psf i.e. 710 sf studio = RM461k (u need to rent out your 1 bed studio for RM2.2k per month to break-even :confused: )

Ppl must think Desmond will build Pavillion2 in USJ :D

[patrick]

bolehland will soon be staring down the subprime mortgage-crisis. All the BNumbo-experts need to do is check out the below Rm200K, no, heck! Below rm100K auction list to see who are the loan defaulters (made worst by under-officiated inflationary impact)

HAHAHAH....Rm1,200 minimum repayment over 30yrs on full rm200K loan. Sure or not can service? Add the proton, higher utilitie$, food cost, collateral damage$ in incremental$ dll...*pensang leow*

Those buying multiple RM0000000 properties? Good 4 'em. They all know something Yang Blur doesnt know.... :confused: :confused:

Yang Amat Blur ToonIstimewaUtama xlatotupai :confused: :confused:

p/s watchit, interest rates will be going up soon...

I have said it before and I say it again. I agree with Tupai. Be patient....wait....many of us have been thru this before. Just think. If it can happen in US, what is so great about here??

[ivanhow]

Ppl will be choosy where location is concern.I think the best solution is like what DBKL is doing-renting to you for RM124p/mth .Nowadays DBKL built quite a nice apartment with about 700sf/3rooms. :rolleyes:Whereabout are these apartments?
I thot it's hard to find rental RM124/mth these days? 3 rooms summo!! :p
Hopefully not those low cost 17storey flats in Jln Pekeliling (Jln TAR)... :p

[zinglicious]

I have said it before and I say it again. I agree with Tupai. Be patient....wait....many of us have been thru this before. Just think. If it can happen in US, what is so great about here??

Ngam. Rich people dont invest in homes. They sell homes for quickie bucks. As in my previous post, take note - the foreigners who bought about 30 units at Desa Park City - have seen sold 28 of them oredi after about two years purchase.
And whatever happens in US, dont stay in US. When they sneeze, other countries catches cold when the viral spreads. Just a matter of time.Maybe China is able to weather the cold storm with its regulated economic policies and prudent spending. They didnt try to show off unlike Japan who was trying to invade US economic interests by buying this and that especially in NY during the 80's Boom Town Charlie San but eventually they got busted and the prime properties was eventually sold back to the Americans.
Unless and until, the strong economic is evident in Malaysia, with the maintainance costs of living from tolls to car, electric to gasoline, the current pricing of house do not reflect the sustainability of house ownership.
One of the city place that is worth buying a hosue for living is in Ipoh city.
No toll, cheap food and realistic pricing. ANd best of all - No USJ - No United States of Jam.
The only snag is things as are what it was since the 80's. Though we have Mini stars Gomen from International Trade to Tansport, Highway or Semi Value , there is no major development in Perak. We have the same airport built since Merderka ( Unless you can call Proton City at Tanjung Malim an exciting economic wonder )

[fonzie]

Don't raise too much expectations on China's economy.....do a google on china ponzi and read for yourself.

Greed is universal....when the going is good for most people, everybody partying along. Damn the bad news/implications!...Capitalist or socialist, all the same!

Cheers!

[jan tomaswaki]

Whereabout are these apartments?
I thot it's hard to find rental RM124/mth these days? 3 rooms summo!! :p
Hopefully not those low cost 17storey flats in Jln Pekeliling (Jln TAR)... :p

Some are build in Sg Besi where old ppl will get ground flr while young couples get the 5th floors.Nowadays there are many around Peel rd,Cheras mostly offer to squatters,single parents,couple s with no children etc. You even can apply one if you meet certain conditions.Did you know that shoplots in Shaw Flats Opp osite VI rental was RM20-30K,yes RM20-30K and fifth floors were sold at RM1.1mil :D

[leetickseng]

Page 5 of NST Monday, June 6, 2011. Govt 'no' to ceiling price for homes:
"The Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said expecting developers to build good quality homes below a stipulated price would make it tough for them. This, he said, would affect the property market. He said the focus should be on building more affordable homes."

I don't see exactly how the Government is looking into ways of making homes affordable. They have been saying this same old tune year in and year out and all I know is that even today buying a reasonable quality value-for-money home particularly in the Klang Valley remains out-of-reach for many especially the younger generations. It seems like the authorities are more concerned about the welfare of the developers than that of the rakyat. The word 'affordable' frequently used by developers and sadly also by the authorities is to mislead buyers into buying their overpriced properties. How on earth did they know that the buyers could afford or could not afford? Well, folks, there goes your dream homes. What is your comment?

[jan tomaswaki]

expensive land,high labour cost,ever rising material cost,high income group,high demand on quality homes = expensive houses :(

[Naka]

expensive land,high labour cost,ever rising material cost,high income group,high demand on quality homes, expensive fuel, hanky panky in loans, kick-backs for approval = expensive houses

[kwchang]

Naka, you should tell us about property prices in Oz which had gone to the stratosphere (skyrocketted) in the past few years. I heard that it is because of the now affluent mainland Chinese buying up properties like candies. Some of them, of course, are buying the properties for their children who are studying there. Whatever the reason, it just means the prices over downunder are pretty ridiculous and along with it the rentals as well.

And even closer to home, aren't the Singapore condos and apartments also crazily priced?

Housing basically is a free-market commodity. If there are people willing to buy the over-priced properties, they probably are doing so for a reason. Either the buildings are so well designed and of high-quality construction, hence the value-for-money factor comes in.

Coming back home, aren't properties outside the Klang Valley still reasonable? If so, isn't this the hazard of buying properties within the commercial capital expected? When demands exceed supply, isn't it simple economics that prices go up?

If we do price controls, isn't it going against the free-market economy that had so driven HongKong to such incredible heights of properity? Of course, the properties in HK are legendary in their super-high prices

[ivanhow]

With housing price going cheap in the US, might just be a good idea to emigrate to US and get cheap property. Why pay so much for a small crampy home down here? Perhaps Malaysia My 2nd Home (MM2H) seems like just a dream - or a vision gone bad?

[CS Chua]

With housing price going cheap in the US, might just be a good idea to emigrate to US and get cheap property. Why pay so much for a small crampy home down here? Perhaps Malaysia My 2nd Home (MM2H) seems like just a dream - or a vision gone bad?
I saw in the IHT advertisement for some good houses in the US like US$40K for lesser known town and US$78K for one in Florida. Cheaper than Malaysia. These are bungalow type and not apartments.

[ivanhow]

I saw in the IHT advertisement for some good houses in the US like US$40K for lesser known town and US$78K for one in Florida. Cheaper than Malaysia. These are bungalow type and not apartments.
That's just a nice RM120K at RM3.0 per USD. Here we can't even get a decent DSLink within the GreaterKL, not to mention a Bungalow. And 1MDB will be loosing not just RM120K but more... :confused:

That's what ppl are talking abt these dayz.. :D Wonder whether 1TalentCorp is able to reverse the flow faster than ever :eek:

[zinglicious]

Sumore , ti usually comes with a basement where you can keep extras in it.

So for the wage earners in USA with USD2,000 , getting a Rm40,000 house is truly affordable. Here, would you be doing with Rm2,000? :confused:

[ivanhow]

Sumore , ti usually comes with a basement where you can keep extras in it.

So for the wage earners in USA with USD2,000 , getting a Rm40,000 house is truly affordable. Here, would you be doing with Rm2,000? :confused:
Basements? Cool :cool: At times when the weather is hot, basements could be a plus. Wonder if it's legal to have basements in this bolehland? :)

[RichLock]

Buying a home in US is the easy part nowadays but living there is another thing. Where can you buy a plate of Char Koay Teow in US for USD1.50 (RM4.50)? I don't know the cost of living in US but I paid about RM21.00 for a plate of Char Koay Teow in Perth!! It's just like you can easily buy a second-hand Rolls Royce at a fraction of a Myvi but the cost to warm up the engine alone every morning can make you bankrupt. Malaysia is still king!!!

[tupai]

say wat v wan...my fren paif rm70K downpaymt for a YTL puchong lake sie/view bungalow 2/5yr ago..he just sold it for rm2million!..and made a profit bftax rm600000! :eek:
I shld hv gone in when he told me so..but i so scare...

wat2do? noit fated 2 make money from prop.. :o

Yang AmatBerugi TIU xlatotupai :eek:

p/s some of us r meant 2 make $$$ not from property lah... :rolleyes:

[USJ27Resident]

... went to the Glades showroom and project office in putra heights....

... almost ran out, in shock...

... why? all the property on sales are 7 figures... townhouses 1.4mil upwards... superlink 2.2mil upwards... :eek: and now with the min 30% for second loans ruling... are you gonna to cough up at least 300K downpayment - for a townhouse? I dun think so... :(

... for those that have the money now.... you better buy NOW for your kids or wait and pray till the bubble BURST... if it doesn't - then your kid(s) will be sleeping under tents or renting for the rest of their lives... oh oh... another scary thought - they will be stay with YOU... for the rest of YOUR life !! :p

[zinglicious]

Dont have to fly to the moon or USJ ( united states of jam ), just fly to USA. You get mansion of 19 rooms in the surburb for just the down payment you mentioned! Check this out at yahoo.com today and it restated it is not a misprint- http://realestate.yahoo.com/promo/americas-dirt-cheap-housing-markets.html

[CS Chua]

Buying a home in US is the easy part nowadays but living there is another thing. Where can you buy a plate of Char Koay Teow in US for USD1.50 (RM4.50)? I don't know the cost of living in US but I paid about RM21.00 for a plate of Char Koay Teow in Perth!! It's just like you can easily buy a second-hand Rolls Royce at a fraction of a Myvi but the cost to warm up the engine alone every morning can make you bankrupt. Malaysia is still king!!!
This is not realistic, bro. A person does not earn ringgit to spend in another country. For the Australians, it is A$7.00 for that bowl of noodles - about the same as in any kopitiam, like Old Town. In fact, that Australian bowl has a bigger portion with more meat than any kopitiam in Malaysia. And in USA, a small bowl is about US$5.00 and the portion is about double the size of any Malaysian bowl.

As for cars, the Aussies pay about A$25K for a new Camry where else we pay about RM170K for a new Camry. A new graduate in Australia gets about A$2,500.00 where else a Malaysian graduate gets about RM2K. So, who gets to buy a new Camry sooner? The Aussie or Malaysian?

[zinglicious]

Besides double the size of the portion of noodles, you get service from bow tie waitress, air conditioned, comfy chairs and tables in a restaurant where you dont see cockroaches and rats running around. ;)
But then, if you really wanna to save monies, buy the stuff from meats to veggies and cook it - it might be cheaper than what you pay for in Malaysia even after conversion;)

[Rhiga]

Buying a home in US is the easy part nowadays but living there is another thing. Where can you buy a plate of Char Koay Teow in US for USD1.50 (RM4.50)? I don't know the cost of living in US but I paid about RM21.00 for a plate of Char Koay Teow in Perth!! It's just like you can easily buy a second-hand Rolls Royce at a fraction of a Myvi but the cost to warm up the engine alone every morning can make you bankrupt. Malaysia is still king!!!

If all depend which place in US you want to live in…

With the high purchasing power of USD, annual income of USD100k is a lot of money in many places in US but I think not in NY or LA (I don’t know for sure, I have not been there).

But I know for sure for Wisconsin – a place where my wife will travel 1-2 times a year for work purpose.

Her counterpart in Winsconsin who is in the same salary band with her , I can only use one word to describe her life – GOOD.

They have a nice house - the typical American house you see in movie plus a lake house and a small yacht for weekend fishing..

But as I said, this is Wisconsin something like “Kelantan” in Malaysia and cannot be used as a yardstick for the overall living cost in US..

[Raikonen]

Pls dont convert into ringgit when comparing prices la..Foodstuff are affordable in Aust. U take AUD200 and RM200 and go to the respective hypermarkets and see what u get.

Look at cars. If I can drive a BMW X6 for AUD130K, can I get it in malaysia for RM390K? I doubt so.

[zinglicious]

And the food stuff is equally affordable in USA. If you are a savvy consumers, buy those chicken legs at the superrmarkets. Even those premiums stuff like the lobsters or scallops are dirt cheap - my kids were fed on fresh scallop congee - at USD3.99 per pound while I feasted on whole freshlobster at USD 6.99 per pound. Here, even the local lobster cost a bomb at RM79.99 per kilo or 40 per pound while I can only afford to cook congee on dried scallop. :o
Unlike in Malaysia. there are not many tolls particulary in the city itself. Even the toll rate is cheap. But then we dont need to drive around in the city or outstation as the public transport is superb. I go to NYC from Philadelphia practically on trains and buses. :cool:
And the electrical applicances from washinmg machines to dryers. TV to computers, oven to air con.
The things expensive in US - rental in NY City or LA City or you wanna to go for branded stuff from Gucci to Armani, fine dining - Buddakan , Morimoto or Gordon Ramsay restaurants. One burger at Stepehen Starr restaurant can set you at USD 100 per piece! So dont say buy free lunch for your colleagues! Perhaps just say free lunch with MCD value meals where it is just UDS0.99 per piece. :D
Me retired? Gotta be at USA surburb with greens and four seasons a year where I can shop for groceries - well stocked for a week at USD100 from meats to eggs, veggies to fishes and breads to noodles. Occasional with extras monies, I go downtown to NYC or Philly to hip hop and party! ;)

[ivanhow]

Dont have to fly to the moon or USJ ( united states of jam ), just fly to USA. You get mansion of 19 rooms in the surburb for just the down payment you mentioned! Check this out at yahoo.com today and it restated it is not a misprint- http://realestate.yahoo.com/promo/americas-dirt-cheap-housing-markets.html
Think of it, those who are working here, with a generous salary might get together and then form a club or sort, pool some money on a regular basis and then go there swoop up some property and then wait for the price of prop to go up in time to come say 10yrs down the road, your returns might be 3~6x by then. And with a low interest rate in US, perhaps set up an investment co, borrow and invest. Might just be your future growing leaps & bounds. :cool: :D :p

[CS Chua]

To be fair to Malaysia, it is not a bad place to live in. Every country has its limitations and negatives as well as the positives. When I was in a country south of America, I was warned 2 things; do not hail a taxi from the roadside and secondly, whatever happens to you, do not go to the police. I do not think I can live in that country.

Home is where the heart is and this is also true for the country. I can equally live in Thailand as in Malaysia but I live in Malaysia because this is where my heart is. Crimes and corruption are everywhere in SEA, even in Singapore but very much limited, by publicity and by design.

The increase of house prices is not necessary a bad thing. I think today's prices are justified because the property prices have not increased for many years. It lags behind many neighbouring countries. It is playing catch up. It has also brought wealth to many house owners - especially to the retirees. For many, they can now sell it and move to cheaper areas albeit with extra money to spend. We cannot just moan about those who do not have and forget those who need the increase. After all, if the market is moving up, even those new buyers will benefit. If the market is not moving, who will buy? Many will prefer to rent. A stagnant market benefits no one.

Even though the prices have gone up, there are still good choices for investment as long as one is flexible. In life, one has to adapt. Go with the flow and make use of the opportunities given to you.

[Naka]

Chua spoke wisely.............. ;)

[shamburke]

live where the heart is....

[ng]

I saw in the IHT advertisement for some good houses in the US like US$40K for lesser known town and US$78K for one in Florida. Cheaper than Malaysia. These are bungalow type and not apartments.

Can a foreigner buy homes in USA ?

What about the monthly expenses to pay if you dont live in it ?

[leetickseng]

The real issue here is about house prices skyrocketting so fast and so high that it's now practically beyond reach of ordinary working folks who would like to settle down and have a simple roof of their own. Let's speak up for the majority of them who suffer in silence and can't speak up for themselves. Noted that this issue may not affect those who already owned one or more and of course the rich ones.

[aursong]

The real issue here is about house prices skyrocketting so fast and so high that it's now practically beyond reach of ordinary working folks who would like to settle down and have a simple roof of their own. Let's speak up for the majority of them who suffer in silence and can't speak up for themselves. Noted that this issue may not affect those who already owned one or more and of course the rich ones.

barang naik... gaji tak naik...
that's the PROBLEMO... :D :D :D

[jan tomaswaki]

The real issue here is about house prices skyrocketting so fast and so high that it's now practically beyond reach of ordinary working folks who would like to settle down and have a simple roof of their own. Let's speak up for the majority of them who suffer in silence and can't speak up for themselves. Noted that this issue may not affect those who already owned one or more and of course the rich ones.
Yesterday had lunch with 2 classmate of mine ,one a datuk and the other a top corporate world finance director,telling properties are catching up,just grab one in city center.Our office unit bought 9 months ago at RM1,3M now value for RM2.5M :eek: The Datuk fren wanted to buy one near our office,a smaller unit two weeks ago value at RM1.2m ,now the owner sells for RM1.5M.Land are sacred in KL :(

[Raikonen]

Yesterday had lunch with 2 classmate of mine ,one a datuk and the other a top corporate world finance director,telling properties are catching up,just grab one in city center.Our office unit bought 9 months ago at RM1,3M now value for RM2.5M :eek: The Datuk fren wanted to buy one near our office,a smaller unit two weeks ago value at RM1.2m ,now the owner sells for RM1.5M.Land are sacred in KL :(

I would say a property bubble is developing...The best time to go in was yesterday...Office space in KL is not worth investing...

Looking at investing in some US properties through a very good friend...It's a fire sale in some parts, going at 40% pre crisis valuation :D

[jan tomaswaki]

I would say a property bubble is developing...The best time to go in was yesterday...Office space in KL is not worth investing...

Looking at investing in some US properties through a very good friend...It's a fire sale in some parts, going at 40% pre crisis valuation :D
I mean shoplots,you can see that Jalan Kenaga (Shaw Flats)is renting for RM25K :eek:

[CS Chua]

Buying a property overseas is not difficult. The question is, how will you manage it and collect the rental regularly? Appointing an agent may help if they are diligent in all matters but nobody will go out of their way to take care of your property. Only you will but you are not there and it is expensive to fly there. In the States, they have lots of taxes to pay for owning a property and this alone is daunting enough - unless you have lots of property to justify the time and expense. Owning a sub-US$100K property is definitely not worth the effort, IMHO.

[cskok8]

You are right. Getting a property agent to look after it, collect rental etc is not cheap. Also if a light bulb blows the tenant will call the agent who will call an electrician to come an electrician to go to the property to replace it. Bulbs are cheap but electricians are not :(

[SiangMalam]

CSChua / CSKok : Costs like these are fixed and built into the property management contracts. For eg the agent in Melbourne takes 6% of the monthly rental and for this sum, he takes care to ensure even the utility bills are settled by the tenants on time every month on your behalf.

[vipassana]

I tried to sell my apartment at 'market price' for more than 2 months, but there is no buyer. So it makes me wonder whether the property blooming is genuine or just some syndicate play? :confused:

[mick123]

I tried to sell my apartment at 'market price' for more than 2 months, but there is no buyer. So it makes me wonder whether the property blooming is genuine or just some syndicate play? :confused:
is your "market price" based on previous transactions of similar size/type of your unit?

[Blue Jasmine]

is your "market price" based on previous transactions of similar size/type of your unit?


Where is your apartment? care to share?

[tupai]

latest from the HBA ~ "...40 per cent last year fuelled by low interest rates and a surge in speculative buying... " :eek:

people in Kvalley earning Rm3k can kiss their 1st home goodbye...unless its kike in say, semenyih, or deepest puchong or nearby kuala lipis. :D

The half past 6 effort$ by gomen wont even feel like a mo$$ie bite to the market player$, let alone a major deterrent to $top $peculation... :rolleyes:

Yang Ada Berumah lowco$t TIU xlatotupai :cool:

p/s in reality what the HBA fella meant was at least 70% were speculation lah.... :eek:

[ivanhow]

The smart investors go buy up property in US now.
Brazilians Buy Miami Vacation Condos at Bargain Prices (http://www.bloomberg.com/news/2011-06-21/brazilians-buy-miami-condos-at-bargain-prices-after-45-surge-in-currency.html)

Frederico Azevedo went to Florida looking for a second home. He ended up buying one for use as a vacation home, and the other two as investments.

Genting is positioning to transform the economy in Florida in the next couple of years, creating '000s of jobs and setting to attract tourism Dlrs into Florida soon.

[Rhiga]

I am one of those who worry to miss the “good opportunity” of this property frenzy and at the same time also concern whether a property bubble is forming !! :o

I recently visited a high-end condo project in the vicinity of KLCC and I am now more convince that it is more bubble than real demand.

There are 4 towers in this condo projects, each tower is 40 floors and 200 units. This is a 1-2 rooms small unit concept from 900 – 1100 sqft, ranging from RM700k++ to RM1million++.

In terms of price/sqft, it is relatively cheap, around RM700/sqft which is less than half of others KLCC condo price.

I believe the developer manage to offer this type of price is mainly due to the density of the condo. Gosh, imagine 800 units in the same neighborhood !! :eek:

Purchaser only needs to pay RM10k as deposit and the next payment will only be collected when the condo is ready after 3 years..

Sounds good ? I think so, judging from the response when it was launched few weeks ago. Two towers were launched – one tower completely sold out and another tower is near to be completely sold out – a whopping 400 units in less than a month !!

I believe the low-entry deposit scheme manage to attract a lot of those who are not financially fit to purchase such property. They hope by placing a 10k deposits in a million dollar property, hopefully after 3 years the property will generate good return when they sell or rent teh property

Assuming economy is still not too bad after 3 years i.e. no major economy crisis, I think many have forgotten the factor of competition – just use a simple estimate of 50% of the buyers are investors (it is definitely more than 50%) who want to sell or rent the unit after 3 years, whoever buy it will have instant 400 competitors the moment the CF is issued..!!!

From my experience staying in condo, there are very very few Malaysians who will buy a million dollar small unit condo to stay.. Those who genuinely like the condo lifestyle look for much bigger units, not a one million dollar 900 sqft pigeon hole !!!

I believe a bubble is forming.

[zinglicious]

Any difference of the housing bubble with the dotcom bubble years back?
The housing value is determined by rentals returns just like shares are valued by dividen yeilds or future growth earnings.

But the greeds for unrealistic profits are the objectives for many blurred sotongs. Fast bucks without sweats but at the end of the picture, they would be cold sweating with forced sales of margin calls or as in the case of condo - no rentals to pay for mortgage. :eek:

During a bull run, the market might eat you up like a beef burger with ketchup
Comes the bear period, you be eating stack of charbrolied steaks in refine cuisines. - that is you are not tempted to be greedy and watch patiently the actual fundamentals of investing without greeds factor. ;)

BTW, I had patiently waited for the dotcom to be dotgone where I bought Akamai at USD1.75 which was selling at USD333 per share. Buy it by lots like Candy till it drops to 80 cents. Hold it for 1&1/2 year and enjoy it like fine dining cuisine meal at USD13.80. :)

[tupai]

i disagree with the nay-sayers. :D

I'd say, go buy now. Its only 10% to 30% downpayment and stre$$ free for next 24-26mths...Beli jangan Xbeli!

The trick is to flip (a terra merra parlance meaning to do quick $ale lah) the prop BEFORE the completion/cf issuance lah Q.E.D. :D

And u can actually buy multiple units also. 1under yr name. 1under yr bro's name. 1under yr sis'name. 1under yrspouse. 1under yr local hottie. 1under yr chinadoll... Many peep r forming own consortium, pool their hardearned $$ and buy, buy, buy...I mean, put 10% downpayment. Q.E.D. really. :cool:

Its no roket sains lah. :cool: buy, flip. buy flip, flip flip. buy buy buy, flip flip flip...Q.E.D. senang lah:D

Yang Ada Berflippin' burger TIU xlatotupai :cool:

[Rhiga]

I'd say, go buy now. Its only 10% to 30% downpayment and stre$$ free for next 24-26mths...Beli jangan Xbeli!

The trick is to flip (a terra merra parlance meaning to do quick $ale lah) the prop BEFORE the completion/cf issuance lah Q.E.D. :D




Well, stress-free for 24-36 months.. and then stress-full after the 24-36 months !! :eek:

Flipping the property is not a mysterious, secret formula like the one of Coke lah… everyone will also start to flip when or even before you flip !!! :eek:

However, I 100% sokong you to ask everyone to buy, buy , buy……..buy until the bubble is formed, is deformed and is eventually burst…

Then, time to buy for a genuine no flip purchaser like me……and to help the market to recover from the bubble.. :D

[tupai]

Well, stress-free for 24-36 months.. and then stress-full after the 24-36 months !! :eek:

Flipping the property is not a mysterious, secret formula like the one of Coke lah… everyone will also start to flip when or even before you flip !!! :eek:

However, I 100% sokong you to ask everyone to buy, buy , buy……..buy until the bubble is formed, is deformed and is eventually burst…

Then, time to buy for a genuine no flip purchaser like me……and to help the market to recover from the bubble.. :D


hush...not so loud lah :p

Yang Akan Beli TIU xlatotupai :cool:

[ivanhow]

1PM have just announced that a housing project would be developed on a piece of land at the Sungai Besi airbase in Kuala Lumpur, dubbed Project Perumahan Rakyat 1Malaysia (http://www.nst.com.my/nst/articles/1MalaysiahousingprojectatSgBesiairbasesite/Article/#ixzz1Q5egFxbV) (PRIMA)

1Malaysia housing project at Sg Besi airbase site (http://www.bernama.com.my/bernama/v5/newsindex.php?id=596181)
For those eligible (http://malaysiahousingloan.net/2011/05/17/my-first-home-scheme-faq/) for the 'My First Home' housing loan scheme (earning below 3K, and age 35 and below), this might be a good opportunity for you to get started to own a property, with little or no downpayment. :eek: Be sure to grab it... :) :D :p Check out the Criteria (http://malaysiahousingloan.net/2011/03/09/my-first-home-scheme-criteria-in-details/)

The banks involved in financing the "My First Home Scheme" are Affin Bank Bhd, Affin Islamic Bank Bhd, Alliance Bank Malaysia Bhd, Alliance Islamic Bank Malaysia Bhd, AmBank Bhd, AmIslamic Bank Bhd, Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd, CIMB Bank Bhd, CIMB Islamic Bank Bhd, EON Bank Bhd, EONCAP Islamic Bank Bhd, Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd. noted the article (http://www.mysinchew.com/node/54413).

[rachel sj]

[QUOTE=zinglicious]Any difference of the housing bubble with the dotcom bubble years back? The housing value is determined by rentals returns just like shares are valued by dividen yeilds or future growth earnings.QUOTE]

Just in March this year, I enquired about a basic 24x75 DSL in USJ 5. Prices quoted was then RM550k to RM600k. Yesterday, I rang up some property agents for a unit with similar specs in USJ 5, to my surprise, prices have gone up to RM600k to RM700k :eek:

Any one knows whether indeed banks agree with RM600k-700k as market price for DSL in USJ 5 & hence, would grant 90% to finance that kah?

[SiangMalam]

Salam Curi-Curi Malaysia Yang Akan Beli Lato Tupai,

Let me tell you a scenario about putting 10% down and flipping the property before the issuance of certificate of fitness. This is scenario of the so-called super-condos in Penang over last few years and narrated to me by a northern region manageress of a big bank known to be heavily-involved in housing loans (besides having telemarketers irritate you on weekends offering you RM100,000 in pre-approved loans... )

In th beginning there was The Cove which was a 6,000 sq ft luxurious living by the bay type of temptation, every unit has 3 sides facing seaview and 4 car parks and two swimming pools etcetera etcetera...

Then came Springtide, then cam Baywaters, then Miami Green, then Infiniti, then Harmony Homes, then Straits Quay and all those along the beach plus Gurney Drive's many super-condos and still waiting to complete - Paragon and Gurney 88 etcetera etcetera...

Who will flip over first? Buyers or developers? Developers won't flip over, not over your last $hringgit! They have taken your taken your 10%, the balance of 90% from your bankers, plus some side income / commissions from the lawyers given the lucrative exclusivity of being the 'project solicitor'....

.... continued

[SiangMalam]

Most of the buyers will flip, Lato, most of them might have also turned belly-up already for all you know. How can this happen?

Well, its because its 10% down and 90% pre-approved loan scams errr schemes! These supercondos are all 4000 to 6000 sq ft and cost nothing less than RM1.5 million cool moolah$ at launch price.... 10% is RM150,000 so have to take a loan of RM1.35 million - that is RM1,350,000.00 in full brudder! Just a 1% interest rate already set you back RM13,500 per year brudder.... and which bank is so nice to give you 1,3500,000 moolah$ for a mere 1.00% interest?

Divide RM1,350,000 by 180 months instalment, assuming you take a 15-year repayment scheme... That is a cool RM7,500 without interest per month!

Why was there a rush for these so-called super condos and condos? Because everyone have the same idea and that was to flip it before the issuance of CF or whatever.... and make a cool RM1,000,000 just like that, senang aje!

I was told by the bank manageress, because of the numerous super-condos and even just condos being built and many still in the pipeline not just in Penang but just everywhere, only about 10% of these people who put 10% down and took 90% loans hoping to reap a cool RM1 million quick profit managed to flip their investments, the rest are all paying their instalment through the nose, many depleting their lifelong savings and even whats left in the EPF account....

.... continued

[patrick]

Maybe when the bad times roll in we can pick it up for a song? ;) Then I can move back to Penang and live in style !! Heheh!!

[SiangMalam]

Let us be very honest about this, how many of Malaysians, even those living in SJ/USJ can spare RM10,000 a month paying instalments for a property without earning a sen back in rental because there is a property glut or because they couldn't flip their property before others? Or even RM5,000 a month?

Just look at the US sub-prime crisis and we will all know, properties worth USD100,000 became wothless overnite!

Why? Because the market just ain't there, there is a "false economy" at work... don't blame JP Morgan or Goldman Sachs or the likes of Madoff etc, it is the way the system created a bubble and poof! it is gone just like this.

This is how such "false economy" works....

A wealthy Russian tourist arrives at a Greek hotel by the sea in Athens and asked the inn keeper the price of a room for a night's stay... It's 100 euros and the Russian tourist said "OK, here's 100 euros, but I want to check the room first, gimme the key, if it's no good, I will take back my 100 euros money"

....continued

[SiangMalam]

When the Russian went upstairs to check the room, the innkeeper rushed to the butcher and paid the 100 euros to the butcher for the meat he had supplied earlier, the butcher took the 100 euros and rushed to the feedmeal owner paid the owner the 100 euros for the feedmeal he supplied to his herd, the feedmeal owner rushed to pay off the prostitute the 100 euros for her service the week before and the prostitute rushed to the innkeeper to pay him the 100 euros she owed him for the use of the room the week before to serve a client....

Then the Russian tourist came back downstairs and told the innkeeper he wasn't happy with the room and demanded back his 100 euros, the innkeeper reluctantly gave it back to him.

All debts were paid but there was no goods nor services produced in the economy! There was no productivity or value added, BUT ALL DEBTS WERE SETTLED!

That was how the US subprime crisis happened! Still think it is safe to enter the water?

[tupai]

...
That was how the US subprime crisis happened! Still think it is safe to enter the water?


Aiyoh aiyph SM...not so loud lah pliss..so detailing sumore...Not so loud.

the world must have the opportimists lah...then only can keynesian theory can co-relate to the curent subprime mah...economics 101 we learned in college did we not?

domestic spending (derivatives as now or in future) can be the driver to econ expansion, an engine of growth for the nation. Those to be burnt or in Mosses' parlance the sacrificial piglets, are but the minority pendatangs sumore! :D

Yang Ada Beli future TIU xlatotupai

[Rhiga]

Well, people always like to hear success stories – so and so make $$$$ from a plot of bungalow land in Putra Jaya bought few years ago… so and so make handsome $$$ from a condo near KLCC bought 2 years ago, etc, etc, etc, etc………

Seldom people hear so and so has to change from Merc to Kancil because the million $$ property cannot sell and cannot rent, and have to pay many thousand a month for installment or else kena lelong….

Come on, just flip the classified ads of Sin Chew, NanYang, NST, Star.. etc, etc.. and figure out how many of the auctions or in simple English “house for lelong” notices… :eek:

In front of every condo especially the new one ( I mean after 6 months or so), try to count the “condo lelong” stickles on the trees, lamp posts.. :eek:

Fyi.. the pigeon hole I stay was bought when the property was 95% completed and yet I bought with the launch price!

Why ? – because the fella who bought from developer when it ws launched failed to get loan (paying deposit is easy, the fella didn’t realize he is not eligible to borrow that much to finance the house).

[zinglicious]

A good indication of a true house value is measured by the rental. If there is no tenant, how to tahan the holding cost if you leave it empty?
Unless you are in the super rich like one of my overseas client who owns in almost all corners of the developed world from UK to USA, NZ to HK, this single guy owns about 5 houses in Desa Park City for 2 years without rental or sale up to date! Total cost - RM10 million exluding fees payable in form of stamp fees and maintainance :eek:

[tupai]

any1 ever attended the 'Be A millionaire in Property seminar'? I seen so many unsolicited spams, print ad etc but simply cant bring myself to spend Rm888 or whatever for the so-called seminar.

Any1 care to share yr experience? I dont mind sharing a bottle Single Malt, at a place of your choice, to listen with awe. Serious :D

Yang Amat Blur beli TIU xlatotupai :cool:

p/s My fren co has a brilliant young chap, top of his class, 1st class honour and well read too. Admittedly he is a smart cookie really with a foreseeable great future ahead.
Anyway, during a lunch makan 1day, he said to his colleagues: "that rich man poor man, kimisawa (or something, this Yang Blur honestly dont remember the japo's name lah), or was it rich dad poor dad, property guru owes me 3hrs of my time! I read his book(s?) and its crap!" :eek:

But i did qualify, this 4eyed, nerdy young man is a smart cookie. And he just bought himself a bike too :eek:

[zinglicious]

In just one day seminar on "who wants to be a millionaire in property seminar", the speaker oredi makes a killing over the participants without monies down and cost like stamping & legal fees. Rm800 x 200 pax = RM160,000 for 3 hours investment minus the venue hall cost (Rm30,000).
A whooping RM120,000 profit.Why buy property. Just rent the hall with a multimedia corridor and pay cash for brand new bike the next day in cash. ;)
From a boiling Mean Chef simmmering into firely Seminar Speaker coming into the convetional hall near you with " How to eat like a Millionaire with the subprime Kobe Steak" :D

[SiangMalam]

domestic spending (derivatives as now or in future) can be the driver to econ expansion, an engine of growth for the nation. Those to be burnt or in Mosses' parlance the sacrificial piglets, are but the minority pendatangs sumore! :D

Yang Ada Beli future TIU xlatotupai
I fully agree, CONSUMPTION (the C in Y=C+I+G+(X-M) macroeconomic model) is a key driver to economic expansion but there MUST be accompaniment of productivity growth resulting from such expenditures, there must be value-added to such consumption initiatives. If the consumption is based merely on SPECULATIVE, like the example of the Russian tourist I wrote above, everyone is just contributing to building a bubble.... poof! one day its implosion!

And while the big pigs are happily sunbathing in the mud the little 'sacrificial piglets' will be dinner servings as suckling pigs! :eek:

[SiangMalam]

Well, people always like to hear success stories – so and so make $$$$ from a plot of bungalow land in Putra Jaya bought few years ago… so and so make handsome $$$ from a condo near KLCC bought 2 years ago, etc, etc, etc, etc………

Seldom people hear so and so has to change from Merc to Kancil because the million $$ property cannot sell and cannot rent, and have to pay many thousand a month for installment or else kena lelong….

Come on, just flip the classified ads of Sin Chew, NanYang, NST, Star.. etc, etc.. and figure out how many of the auctions or in simple English “house for lelong” notices… :eek:
Exactly, you hear the good news but we can can't see the silent tears flowing in private.... here we also can see "my wealthy friends own 5 or 6 or 7 every corner of the world" or "my friend owns one entire row at Ara Damansara and he doesn't even bother to rent out or...." Just a load of bull and it flows everywhere everyday.... thats how the herd instincts start anyway, thats how the feeding frenzy in the stock market starts.....

Did you hear, Tan Sri Syed Mokhtar and Vincent Tan and Francis Yeoh and Ananda Khrisnan, all my buddies and they makan regularly at my bistro leaving RM2,000 tips for my girls and they puffed only Montecristoes No. 5... they are going to gang up and buy Silver Bird and Gardenia and merge them into a single bakery and take on Robert Kuok's new bakery at Bukit Raja.... better buy the counters lah... Sagamihara-san, this is the kind of bull that drives up volume for the Bursa and who is happier to fan the fire but the remisiers....

[zinglicious]

The funny thingy about tycoons is that they dont usually buy buildings sold by developers by blocks. They build and sell. And definitely they dont keep it empty for long.
Interestingly, the valuation of MacDonald is not just measured by the burger sales alone by the financial analysts but by the buildings they owned as valuation would shot up where the surrounding areas of MacD is driven by the trafficflow over time.
Still cant understand how some owners could hold empty premises without selling especially condos or gated houses that comes with monthly maintainance, quit rent, assessement costings and etc. Particularlry those who have to get bank financing with interest charges?
BTW, how to justify RM600k for a sub 1,000 sg feet condo? :confused:
Pelik tapi benar, all the recent project launches at DPC were snapped up within hours!!! Amazingly unbelievable!!!

[CS Chua]

Looks like there are lots of negativism here but that is a privilege anybody can have. Just bear in mind that if you are wrong, you have lots to lose too. A friend once relate to me a story in Melbourne how this person sold his house at a good price because he was pessimistic that the housing boom could last. He was planning to buy back another house but at a much lower price when the bust happens. Well, today he is without a house because the price did not stop going up and so he could not afford the current prices.

When Tiaraville (Casa Tiara) was launched 6 years ago, there were no lack of skeptics and soothsayers. Some were very emotional and strong about it, and wrote many negative things. Well, let us just say time has proven all of them wrong.

Now, I am not saying that the property market will not crash tomorrow or next year. Nothing lasts forever. The property market is cyclical. Sooner or later it will have to consolidate, take a breather and then move up again because we are an emerging economy. We are not a developed economy like the 1st world. We are growing and like all growing economy it will always need more houses and condos.

Therefore, when you buy a property for investment or own stay, always follow the golden rule: location, location, location. As long as you follow this golden rule, you do not have to worry about property market busting or crashing. While others are struggling, yours will be safe.

Anyhow, the biggest question on the minds of every property buyer is the coming GE. The results will affect the property market. If BN wins big, the market will get a boost. If the results indicate possible chaos or uncertainties, then, sorry lah. It could go either way. Such is life. Sigh.

[jan tomaswaki]

What CS CHua say is correct.My nephew sold the house in Canada before he comes back for good for C$600K 2 yrs ago now cost C$1Mil :eek: Sunway LA COSTA also selling like hotcakes condo 1400sf for RM900+ Before anyone invest make sure 1) below RM400 -SAFE ! 2) reputable devlopers and 3 ) location. BTW can anyone recomend a house in SJ/USJ for below RM350K? PM me

[Rhiga]

Looks like there are lots of negativism here but that is a privilege anybody can have. Just bear in mind that if you are wrong, you have lots to lose too. A friend once relate to me a story in Melbourne how this person sold his house at a good price because he was pessimistic that the housing boom could last. He was planning to buy back another house but at a much lower price when the bust happens. Well, today he is without a house because the price did not stop going up and so he could not afford the current prices.

When Tiaraville (Casa Tiara) was launched 6 years ago, there were no lack of skeptics and soothsayers. Some were very emotional and strong about it, and wrote many negative things. Well, let us just say time has proven all of them wrong.

Now, I am not saying that the property market will not crash tomorrow or next year. Nothing lasts forever. The property market is cyclical. Sooner or later it will have to consolidate, take a breather and then move up again because we are an emerging economy. We are not a developed economy like the 1st world. We are growing and like all growing economy it will always need more houses and condos.

Therefore, when you buy a property for investment or own stay, always follow the golden rule: location, location, location. As long as you follow this golden rule, you do not have to worry about property market busting or crashing. While others are struggling, yours will be safe.

Anyhow, the biggest question on the minds of every property buyer is the coming GE. The results will affect the property market. If BN wins big, the market will get a boost. If the results indicate possible chaos or uncertainties, then, sorry lah. It could go either way. Such is life. Sigh.

Hey CSChua,

I don’t think there are much negativism here. Those opinions are cautious views about speculative property investment.

I think it is not common to come across anyone in Malaysia who did what you friend relate to you in Australia i.e. sell the only house and hopefully to buy it back later at a cheaper price. Most of the people here will buy a house to stay and then only look for another/second house for investment.

For the example of Tiaraville. I think you have to look at the big picture. Not just Tiaraville, anyone who bought a property 3 years ago will certainly laughing at this moment as the appreciation is easily 50% above. Those who bought property more than 5 years ago are the happiest lot.

As I said in previous post, I am one of those who don’t want to miss this property bangwagon but based on what I gather and esperience so far on property price/demand, I am more incline to believe it is highly volatile with lots of hot air. (I can be completely wrong )

Property market is just like stock market. If you don’t go in – you lose nothing tangibly (you lose the potential gain, of course). Hence, for those who are wrong about the present property market risk, the most is they lose the opportunity to benefit from the property boom. But if they are right, they probably have made the most important decision for their family .

Cheers

[CS Chua]

It really depends on one's wealth. For those who have less, they should wait for the proverbial cycle. For those with surplus and good income, they can ride the bull until it turns bearish. Because they have good income and surplus, they can hold on until the market turns around. A good location should not depreciate more than 15%. In both bulls and bears there are always opportunities. At the present moment, I am bullish on certain locations. I may change my mind if the BLR goes up 200 basis point but that is unlikely, at least for now.

[CS Chua]

For the example of Tiaraville. I think you have to look at the big picture. Not just Tiaraville, anyone who bought a property 3 years ago will certainly laughing at this moment as the appreciation is easily 50% above. Those who bought property more than 5 years ago are the happiest lot.
Cheers
I mentioned that because the skeptics were really incredible in their criticism. I suspect that some were agents from competing projects nearby. But still, it was too strong for a friendly neighborhood forum.

[orchipalar]

Err Buddies...Orchi happened to be at the "launch" of Da-men apartments...
Got there at about 1pm...was told that only about few units of apartments...
were left unsold...n the rest were sold fast even before the official launching...
Yup...was told that buyers would place bank drafts or cheques of RM10K as "deposit"...
way before they even knew of the Selling prices of the properties...

RM500K+ for an apartment size of 700 sq.feet...Wow!
Orchi walked away soon from it still pondering how that could be possible...

30 minutes or so later...
got a call from a lady who said that the properties were further "goreng" to...
RM600K+...

Double Wows!...
That's almost RM1000 per sq. feet...
while there are plenty of "Bank Lelong" notices stuck on tree trucks...
for RM300K+ to RM400K+ of landed houses in USJ2...
just opposite across to the up coming Da-men development...

What are the folks thinking these days...??

[zinglicious]

What were the folks thinking of Dutch Tulips bust back then? Or more recent financial impact where all the "experts" went doggone with the dot com bust? Except for a handful which delivered meaningful profits i.e. google, most went busted and delisted from NYSE or Nasdaq.
So are the condo speculations - unless it is being measured by tenancy or demand of shortage supplies of dwelling places for those who can afford RM3,000, how many can main main and maintain it? Buying a house beyond the means is like buying shares on margin call or option calls. What if it crashes or even if the price remain stagnant?:confused:
This is pure speculation of musical chair because fundamentals of such valuation is beyond reasoning of many estate investors. The greeds of profiting within short term is the objective of many buyers. Though I am happy for those who succeed in making monies, I feel bad for those who actually wanted to buy a house for thier own to dwell in. More so for those who try to buy it out of fear of skyrocketing prices. :(
BTW, have some who bought those Ferrari condos and by looking at thier Myvi car,paychecks with Rm3,000 clerical job, and " internal family financial holdings", I really wonder how they could afford to own milllion ringgit condos at Deas Park City where they just placed bookings last week? Asked them if they would be renting, they say - Hell, no - either the height at 20th floor or the maintainance cost would kill me. But it would be heavenly if you can flip and sell for me then. I cook you dinner as you have retired as a chef. What can I say except to wish them luck when time comes? :confused:

[jan tomaswaki]

while there are plenty of "Bank Lelong" notices stuck on tree trucks...
for RM300K+ to RM400K+ of landed houses in USJ2...
just opposite across to the up coming Da-men development...

What are the folks thinking these days...??

Even lelong house in USJ/SJ asking for RM300K-400K can go up at least 30% of the asking price.A shoplot was lelong for RM1.3M but was sold for RM2.35M :eek:

[currymee]

So BOTTOMLINE ?

Buy or don't buy ? :confused:

CM - property dumb but currymee savvy ... :p

[rakyat]

Err Buddies...Orchi happened to be at the "launch" of Da-men apartments...
Got there at about 1pm...was told that only about few units of apartments...
were left unsold...n the rest were sold fast even before the official launching...
Yup...was told that buyers would place bank drafts or cheques of RM10K as "deposit"...
way before they even knew of the Selling prices of the properties...

RM500K+ for an apartment size of 700 sq.feet...Wow!
Orchi walked away soon from it still pondering how that could be possible...

30 minutes or so later...
got a call from a lady who said that the properties were further "goreng" to...
RM600K+...

Double Wows!...
That's almost RM1000 per sq. feet...
while there are plenty of "Bank Lelong" notices stuck on tree trucks...
for RM300K+ to RM400K+ of landed houses in USJ2...
just opposite across to the up coming Da-men development...

What are the folks thinking these days...??

Damen launch was pretty funny.... The developer was too optimistic and thot there were sooo many waterfish around. For service apartments needed to ballot, then book without looking at floor plan. SA did not want to entertain questions, Floor plans only given to VVIPs via goodie bags. Cheapest unit is RM494k for 700sf unfurnished studio.

Half way through the ballotting process, a SA went up the stage and whispered something to the CEO and you can see him sweating. Immediately asked another staff to do the balloting while he went into the sales area top assess the situation - 1st 30 lucky ballots went in to look see and not 1 booking done!!!

Ended up became 'free for all' - anyone can just walk in and book yet when I left at 4.30 less then 20% had stickers on the 240 unit for sale and 98% bookings were for the 700 sf studios, no takers for the RM700k 2 bedders or RM850k 2+1

This is one of the worst launch I have attended both in terms of logistics (balloting then ushered into a very cramp area with only 1 small plan on display) and results (compared to Dijaya's Tropicana RM1.5 mil Condo 60% sold after 2 hours- done in a public place in Tropicana mall & anyone can just walk in and enjoy the free flow Champagne & hor derve)

[Hopefull]

Even lelong house in USJ/SJ asking for RM300K-400K can go up at least 30% of the asking price.A shoplot was lelong for RM1.3M but was sold for RM2.35M :eek:

Yet there many waiting in queue to buy these exhorbitant property..who are these idiotic ppl who encourage skyrocketting prices?
This country is full of millionaires but many will deny this!

[rakyat]

Yang Amat Blur beli TIU xlatotupai :cool:

p/s My fren co has a brilliant young chap, top of his class, 1st class honour and well read too. Admittedly he is a smart cookie really with a foreseeable great future ahead.
Anyway, during a lunch makan 1day, he said to his colleagues: "that rich man poor man, kimisawa (or something, this Yang Blur honestly dont remember the japo's name lah), or was it rich dad poor dad, property guru owes me 3hrs of my time! I read his book(s?) and its crap!" :eek:

But i did qualify, this 4eyed, nerdy young man is a smart cookie. And he just bought himself a bike too :eek:

The jury is still out on this.

I read the book and thot it was jsut common sense and did nothing, a not so smart malay boy (28 yo local grad, if he was smart sure overseas grad oredi :D ) read the book and understood the concept. He later applied it on property investing for positive cashflow and within 2 yrs accumulated 17 units (in 2010) with at least 6% yield!!! Many of the units were giving him 8% to 15% yeilds and also capital appreciation of > 50% I think he is 30 years old this year.
From a RM3k wage-earner to multi millionaire + 5 figure passive income within 2 yrs thank to Robert Kiyosaki.
As a pessimistic old timer, I oso advised him to realize some capital gains (sell), he thanked me and sold some units but plow it all back into new developments.
I'm still waiting for the bubble to burst to tell him - I told ya so

[Rhiga]

The jury is still out on this.

I read the book and thot it was jsut common sense and did nothing, a not so smart malay boy (28 yo local grad, if he was smart sure overseas grad oredi :D ) read the book and understood the concept. He later applied it on property investing for positive cashflow and within 2 yrs accumulated 17 units (in 2010) with at least 6% yield!!! Many of the units were giving him 8% to 15% yeilds and also capital appreciation of > 50% I think he is 30 years old this year.
From a RM3k wage-earner to multi millionaire + 5 figure passive income within 2 yrs thank to Robert Kiyosaki.

Yup, he deserves the windfall for the risks he took.

Most importantly, he went into property market at the RIGHT TIMING, nothing to do with investment rules… Any property bought from 2006 onwards will fetch good appreciation. Credits have to be given to him to be smart/savvy in chosing those which can generate positive cashflow.

Nothing much to do with the book from Kiyosaki. Many had read the book but only someone like him with “gut “ can capitalize the opportunities.

But try to do what he did 2-3 years ago NOW..... Amithaba :p :D

[rakyat]

Yup, he deserves the windfall for the risks he took.

Most importantly, he went into property market at the RIGHT TIMING, nothing to do with investment rules… Any property bought from 2006 onwards will fetch good appreciation. Credits have to be given to him to be smart/savvy in chosing those which can generate positive cashflow.

Nothing much to do with the book from Kiyosaki. Many had read the book but only someone like him with “gut “ can capitalize the opportunities.

But try to do what he did 2-3 years ago NOW..... Amithaba :p :D

Thats the difference btw a salaryman and an entrepenuer.

How many times have you* though of a money making venture only to procastinate and let some one else capitalize on it, how many times have you read 'how to get rich/ how to be successful' book and felt it was just common sense but remain 'slave to the grind'

An Entreprenuer is no different with a salaryman - only difference is he acted on it and took the plunge/ risk. If the venture fails, he treat it as an expensive life lesson and goes on looking for the next venture. A salaryman is too calculative and looking for the ever elusive perfect deal. He is paralysed by the fear of failure.



* not targeted at any particular forumer but at salarymen in general including me :p

[jan tomaswaki]

Yet there many waiting in queue to buy these exhorbitant property..who are these idiotic ppl who encourage skyrocketting prices?
This country is full of millionaires but many will deny this!

Most ppl make lots of money during Mahathir era thru stock exchange,and most probably thet are now more than 55yrs old.They buy this property for their siblings.One good example is the One Utama housing properties built in the 80's

[Rhiga]

Thats the difference btw a salaryman and an entrepenuer.

How many times have you* though of a money making venture only to procastinate and let some one else capitalize on it, how many times have you read 'how to get rich/ how to be successful' book and felt it was just common sense but remain 'slave to the grind'

An Entreprenuer is no different with a salaryman - only difference is he acted on it and took the plunge/ risk. If the venture fails, he treat it as an expensive life lesson and goes on looking for the next venture. A salaryman is too calculative and looking for the ever elusive perfect deal. He is paralysed by the fear of failure.


Take risk is easy !! Take risk responsibly will earn my respect.

Unless you are alone in this world, no need to be responsible to anyone only yourself… then it is a different story.

In the event the risks are too much to handle and the lesson is too expensive to learn.. until it affects those loved one around you – this is no longer entrepreneur, this is just gambler...

Buying properties beyond affordability is gambling. There is no difference between someone who gamble in property with those who gamble in casino..

No respect for those who win and no mercy for those who fail..

[tupai]

A young manager fren earns maybe rm7K a mth.
Currently 'owns' 4 properties all bought on a 15yr mortgage scheme. I.e. pay only 10% and pinjam the rest.

She lives in 1 and rents out 1 at Rm1,000 about pay rm800mthly instalment, with rm200 to spare...and 2 more under development for completion by end 2012 and 2014 (god willing).

She asked Yang Amat Blur if she got good deal. I said 'I really donno. BUT i do know is if i dont fully owned, as in paid up, the property, then it aint mine..its the bank..."

BUT then after posting the kimisawa (i cant never rember his name) richman poor dad, igoogled his name/book and watched the utube. Yes, he made lotsa sense. Lotsa common sense Indeed. I luv this richson's strategy: "its not the property gain. I dont give a flying hawaiian pineapple whether the properties price go up or down. I am only interested in getting my cash flow every month, regardless of economic boom or gloom."

YES> i agree getting the right tenants help. And i agree also, people with guts and (some reserve $$) can make big money in landed property as well as land. These assets will not lie to you in long term...
So my blurblur caveat? she only Watch the castle in the sky kinda assets...

My other blurblur so-termed advice: Unless u hv lotsa rich dad & uncles' inheritance, Never buy condo or a castle in the sky property cheaply in a gawkforsaken location...like ??

BUT the way, any1 interested to grow mushroom or hydoponic (how u spell ah?) vege in abandoned buildings? :confused:

Yang Ada Blur advisory TIU xlatotupai :cool:

[orchipalar]

Half way through the ballotting process, a SA went up the stage and whispered something to the CEO and you can see him sweating. Immediately asked another staff to do the balloting while he went into the sales area top assess the situation - 1st 30 lucky ballots went in to look see and not 1 booking done!!!

Ended up became 'free for all' - anyone can just walk in and book yet when I left at 4.30 less then 20% had stickers on the 240 unit for sale and 98% bookings were for the 700 sf studios, no takers for the RM700k 2 bedders or RM850k 2+1 Err Buddy...folks are FREE to make their own decisions how their money is spent...

But after seeing the recent launch of Da-men development "concept"...
Orchi won't buy it...

Better "ready made" choices out there...n in USJ 2 especially.
Around 3000 Sq.Feet of corner lot property...considering to be sold at RM700K+...is for better consideration...

[zinglicious]

IMHO as a Chef with some hints of herbs and spices, unless there is Made in China, Nippon or Korea , some says Texas Cowboy and Singapore Slings, Dubai to Saudi oil rich buyers, the spectacular gains bucks would stop right there after 5 years.
Just look at those empty houses at Cheras to Kepong Metro, or empty shop lots especially those at the upper floor business complex cum apartment. It is rented out for others foreigners where there are partition to the max for dwelling at the price of sub RM1,000 per month.
Only those places at Sri Hartamas where the preferred foreigners goes and dwells commands stable rentals or sky rocket baked hot price gains over time .Or simply, like the conceptual Desa Park City where not just logistic but proper management of neighbourhood gated security and serepindity , it may have the value added investment for those wants bits of action of high roller investment on castle in the sky. As for Da Men projected conceptual development plans, we just have to sit out and see whether the preffered foreigners ar taking the bite. Otherwise, it would be not be a Happy Meals investment. ;)

[ivanhow]

BUT the way, any1 interested to grow mushroom or hydoponic (how u spell ah?) vege in abandoned buildings? :confused:

Yang Ada Blur advisory TIU xlatotupai :cool:
Arr! Likedat oso can ar!! Under artificial sunlite kah?? :confused: My blur-blur dun understand, can u elaborate how it can work? :)
On another note, anyone interested to farm vege/fruits in coolcool climate up in Gotong Jaya? Mabe this might work if can copycat some of the farms now capitalising on the cool2 weather only some places can offer. If enuf interested parties, we can get 2gether to venture on a growing biz. :)

[SiangMalam]

Turn Subang Ria into "Subang Community Farm" and rear Tilapias in the lake....

[aursong]

Arr! Likedat oso can ar!! Under artificial sunlite kah?? :confused: My blur-blur dun understand, can u elaborate how it can work? :)


http://thingstodohongkong.com/see-things/get-fungy-at-everbloom-mushroom-farm :D

[ivanhow]

Turn Subang Ria into "Subang Community Farm" and rear Tilapias in the lake....
If MPSJ willing to lease out the plot, will you do it?

[SiangMalam]

If MPSJ willing to lease out the plot, will you do it?
I will dig for coal. :D

[tupai]

I will dig for coal. :D

..and find tin! :D

Many of us will remember SJ used to be more than just rubber estet...its also tin mining area. :D

Back to the thread: So, bottom line is this
- Those who take greater risk, maketh more gain
- Those look-see-wait watcheth the world spins by
- Those who dont invest, simply got no $pare ca$h...and what he aint got, he ain't missing out. Also le$$ stre$$? no? :confused:

Those who buy at right locations, LOL to banks. Those who bought in inner puchong, inner cyberjaya, bt beruntung, tj malaim, sepang etecetcetc..and are without tenants for the ca$h flow are di$tre$$ing like no tomollow! :eek:

psst...heard bout the rows of shop hses in kampar near tar kolej? Wanna do a water-tight managed hostel for students? at rm300/pop/mth? Pasti kaya 1!

Yang Ambil Blok TIU xlatotupai :cool:

[patrick]

Patience is virtue. Hold on to your $$ and wait..... wait....has happened before and will happen again. :D

[SiangMalam]

..and find tin! :D

Many of us will remember SJ used to be more than just rubber estet...its also tin mining area. :D

True, when I moved into my house in USJ4 in 1993, I used to go "scrambling" on my dirtbike (Yamaha DT250 :D ) with another buddy (he died in a high speed crash on a MV Agusta bike along Karak in 2006 - RIP bro! :) ) on land which is now USJ3! and also all the way up to the Puchong hilltop where the radio transmission tower is located! It was all rubber estates and abandoned oil palm plantations, plenty of cobra snakes too!

[ivanhow]

I will dig for coal. :D
Coal... and find Gold. :D

[SiangMalam]

Coal... and find Gold. :D
That would be nice. Coal is USD100 per metric ton and Gold is USD1,500 per ounce.... vast difference yah! :D

[CS Chua]

Damen launch was pretty funny.... The developer was too optimistic and thot there were sooo many waterfish around. For service apartments needed to ballot, then book without looking at floor plan. SA did not want to entertain questions, Floor plans only given to VVIPs via goodie bags. Cheapest unit is RM494k for 700sf unfurnished studio.

Half way through the ballotting process, a SA went up the stage and whispered something to the CEO and you can see him sweating. Immediately asked another staff to do the balloting while he went into the sales area top assess the situation - 1st 30 lucky ballots went in to look see and not 1 booking done!!!

Ended up became 'free for all' - anyone can just walk in and book yet when I left at 4.30 less then 20% had stickers on the 240 unit for sale and 98% bookings were for the 700 sf studios, no takers for the RM700k 2 bedders or RM850k 2+1

This is one of the worst launch I have attended both in terms of logistics (balloting then ushered into a very cramp area with only 1 small plan on display) and results (compared to Dijaya's Tropicana RM1.5 mil Condo 60% sold after 2 hours- done in a public place in Tropicana mall & anyone can just walk in and enjoy the free flow Champagne & hor derve)
You mean 98% of the 700 sf studio were booked on the 1st day? I am surprised as it is RM705 per sf. You will need to rent out at RM2750 per month just to get a ROI of 6%! It is OK to pay that sum for better location like KLCC area or Mt Kiara but USJ? And with such traffic jam and not so beautiful environment. I will take the Boulevard anytime. At least, Subang Ria park is next to it.

[logicman]

Err Buddies...Orchi happened to be at the "launch" of Da-men apartments...
Got there at about 1pm...was told that only about few units of apartments...
were left unsold...n the rest were sold fast even before the official launching...
Yup...was told that buyers would place bank drafts or cheques of RM10K as "deposit"...
way before they even knew of the Selling prices of the properties...

RM500K+ for an apartment size of 700 sq.feet...Wow!
Orchi walked away soon from it still pondering how that could be possible...

30 minutes or so later...
got a call from a lady who said that the properties were further "goreng" to...
RM600K+...

Double Wows!...
That's almost RM1000 per sq. feet...
while there are plenty of "Bank Lelong" notices stuck on tree trucks...
for RM300K+ to RM400K+ of landed houses in USJ2...
just opposite across to the up coming Da-men development...

What are the folks thinking these days...??

This project is under Equine Capital. How safe are we investing here?

[zinglicious]

You mean 98% of the 700 sf studio were booked on the 1st day? I am surprised as it is RM705 per sf. You will need to rent out at RM2750 per month just to get a ROI of 6%! It is OK to pay that sum for better location like KLCC area or Mt Kiara but USJ? And with such traffic jam and not so beautiful environment. I will take the Boulevard anytime. At least, Subang Ria park is next to it.

The Million Ringgit Question is " How Many Tenants does it takes to fill the blocks of Condo At RM2750K ? In other words, how many people have RM10,000 montly salary and wanna to pay that rental sum? It doesnt add up unless you are a foreigner and usually they have been known to flock together to area like Sri Hartamas, Mont Kiara and now KLCC and Desa Park City. :confused:

[mick123]

just imagine what the traffic conditions there will be like when this project is fully occupied :eek: it's already bad enough as it is.

[tupai]

This project is under Equine Capital. How safe are we investing here?

Dont know. Dont care. Its not important.
Ayam a flipper par excellence. :p As sure as the sun gonna be rising from the east, there will be a 2nd &3rd tier flipper-wannabes too! :D :D

Yang Ada Berflippin' TIU xlatotupai :cool:

[Rhiga]

....It is OK to pay that sum for better location like KLCC area or Mt Kiara but USJ? And with such traffic jam and not so beautiful environment. I will take the Boulevard anytime. At least, Subang Ria park is next to it.

CS Chua,

You really know SJ/USJ very well as far as property is concerned…

You should offer a crash course of how to invest in SJ/USJ.. :D

Btw, Laman Baiduri next to Boulevard SJ is ready to move in soon.

I still remembered when it was launched 3-4 years ago, it was almost 40-50% more expensive than Boulevard per sqft basis due to higher construction materials cost at that time. Nevertheles, those who bought it still can laughing to the bank now.

And for Boulevard owners, certainly a good buy because after the vacant possession was given by the developer 5 years ago, the unit price is up, up and up. Average rental for smaller unit (1200sqft) is RM2500-3000. Most of the residents are owners not tenants, vastly different if compare with Tiaraville…

[CS Chua]

CS Chua,

You really know SJ/USJ very well as far as property is concerned…

You should offer a crash course of how to invest in SJ/USJ.. :D

Btw, Laman Baiduri next to Boulevard SJ is ready to move in soon.

I still remembered when it was launched 3-4 years ago, it was almost 40-50% more expensive than Boulevard per sqft basis due to higher construction materials cost at that time. Nevertheles, those who bought it still can laughing to the bank now.

And for Boulevard owners, certainly a good buy because after the vacant possession was given by the developer 5 years ago, the unit price is up, up and up. Average rental for smaller unit (1200sqft) is RM2500-3000. Most of the residents are owners not tenants, vastly different if compare with Tiaraville…
Tiaraville's location is better hence more tenants and easier to rent out.

Personally, I will not look at SJ/USJ for investment. Those who wants a lower entry cost should look at Sg Buloh and Cyberjaya. Those who can afford it should look at KLCC area. If you look at other major cities, properties in CBD area always maintain their prices and gives excellent rental over the long term. If can afford it, buy a unit and keep for 10-15 years. It will lay golden eggs for your retirement.

[clfoo]

Tiaraville's location is better hence more tenants and easier to rent out.

Personally, I will not look at SJ/USJ for investment. Those who wants a lower entry cost should look at Sg Buloh and Cyberjaya.

cyberjaya low entry cost? go check again.

[zinglicious]

This project is under Equine Capital. How safe are we investing here?

Equine Capital is on the shaky ground ever since its Chairman - Dato Patrick Lim resigned after twist and turn of events especially through its projects in Batu Kawan turned into nightmares for him and the company. Maybe, the supposely association with Khairy / Badawi was the downfall with over ambitious projects of sorts.
He had a humility background yet was able rise to the top of corporate due to impressive profilic vision and personality where he could deals and wheels with world financial and sporting personalities. It is really unfortuante that he dropped out of the orbit just like that. Right now, even the Equine Capital has lost its shine at his own yard - Equine Park. :(
As with any KLSE counters, it is caveat emptor especially when you are buying anything especially a promised furnished and finished condo that doesnt end like empty castle in the sky. ;)

[CS Chua]

cyberjaya low entry cost? go check again.
Why? Maybe it is you who should. :p Look hard and you will find opportunities.

[clfoo]

Why? Maybe it is you who should. :p Look hard and you will find opportunities.

go to iproperty and point me anything that is low entry cost in cyberjaya by your definition.

[orchipalar]

This project is under Equine Capital. How safe are we investing here?Err Buddy...put it this way...

With RM700K of your money...
there are whole lot better n safer options for EXISTING properties in SJ/USJ...
than the Da:men concept...

Unless you could be a better dreamer...

[rakyat]

Equine Capital is on the shaky ground ever since its Chairman - Dato Patrick Lim resigned after twist and turn of events especially through its projects in Batu Kawan turned into nightmares for him and the company. Maybe, the supposely association with Khairy / Badawi was the downfall with over ambitious projects of sorts.
He had a humility background yet was able rise to the top of corporate due to impressive profilic vision and personality where he could deals and wheels with world financial and sporting personalities. It is really unfortuante that he dropped out of the orbit just like that. Right now, even the Equine Capital has lost its shine at his own yard - Equine Park. :(
As with any KLSE counters, it is caveat emptor especially when you are buying anything especially a promised furnished and finished condo that doesnt end like empty castle in the sky. ;)

Equine was taken over by Desmond Lim who is also the boss of Malton/ Pavillion. He seems to be getting the choice landbanks and manage to pull off quality mid to high end projects. (check out Amaya Saujana & the Pearl in KLCC or V2 in PJ)

Equine is no longer a proxy for Badawi but more to those currently in the corridors (Jib or Hisapudin?).

[rakyat]

You mean 98% of the 700 sf studio were booked on the 1st day? I am surprised as it is RM705 per sf. You will need to rent out at RM2750 per month just to get a ROI of 6%! It is OK to pay that sum for better location like KLCC area or Mt Kiara but USJ? And with such traffic jam and not so beautiful environment. I will take the Boulevard anytime. At least, Subang Ria park is next to it.

Nope I meant that 98% of units sold (out of the 20% sold) are the smallest 700 sf studios, there were hardly any takers for the 2 bedders (RM700k) or 2+1 (RM8XXk)

Went to the showroom on Sat and reception was still lukewarm, probably 40% take up rate. Went to transfer my booking to my wife's name since I kena 70% LTV but ended up canceling the booking altogether.

Not to say that Damen cannot make it but there are more attractive fishes out there. And those 'insiders' who bought tower A @ RM350k would gladly off-load in 3 yrs time at RM420k to RM450k? So you can get a completed SA ready for rental at the same price (or cheaper?)

BTW your calculation is way off, you need only RM20XX per month to cover the installment, add another RM150 for monthly maintainence (it only 700 sf).

[currymee]

Equine was taken over by Desmond Lim who is also the boss of Malton/ Pavillion. He seems to be getting the choice landbanks and manage to pull off quality mid to high end projects. (check out Amaya Saujana & the Pearl in KLCC or V2 in PJ)

Equine is no longer a proxy for Badawi but more to those currently in the corridors (Jib or Hisapudin?).

I hope his "feng shui" is STRONG and POSITIVE - that corner of Summit (the DA-MEN project site) is considered "bad luck" by a few realty agent friends of mine - everything/biz that started BUNGKUS, 2 food courts KO-ed, furniture mall also burned down - Tops and Giant with warehouse, both also BUNGKUS ....

Better go and "pooh-pooh" and burn a lot of "good juju" paper to "CLEAN (edited to English as advised by a good Samaritan rakyat :D )" the place first !!!! :rolleyes: :p :p :D

[CS Chua]

go to iproperty and point me anything that is low entry cost in cyberjaya by your definition.
Aiyah, go and do your own homework lah. But if you have to know, a new project was launched early this year at around RM300.00 psf. All sold out within a month as it is in a good and elevated location. I was lucky because a buyer pulled out when he could not get a bank loan but I had to pay 10% more. To me, around RM300 psf for a prime location is low. I hope you are not thinking of RM200 psf because that is like 10 years ago.

For Damen's price of RM700 psf, I might as well buy a unit near KLCC going for RM750 psf. Admittedly small (about 500 sf studio) but will definitely get better rental than Damen's.

[CS Chua]

Nope I meant that 98% of units sold (out of the 20% sold) are the smallest 700 sf studios, there were hardly any takers for the 2 bedders (RM700k) or 2+1 (RM8XXk)

Went to the showroom on Sat and reception was still lukewarm, probably 40% take up rate. Went to transfer my booking to my wife's name since I kena 70% LTV but ended up canceling the booking altogether.

Not to say that Damen cannot make it but there are more attractive fishes out there. And those 'insiders' who bought tower A @ RM350k would gladly off-load in 3 yrs time at RM420k to RM450k? So you can get a completed SA ready for rental at the same price (or cheaper?)

BTW your calculation is way off, you need only RM20XX per month to cover the installment, add another RM150 for monthly maintainence (it only 700 sf).
My calculation was on the ROI and not the installment. A ROI of 6% should be the minimum for all condo investment. 7-10% is better but those are usually reserved for shophouses. However, before the mat salleh went home, many at Mt Kiara and the KLCC areas were scoring 10% ROI. Many are waiting for the good old days to come back. Hopefully after the GE, things will improve.

[zinglicious]

The NAPCI's Property Overhang reports disturbingly show unsold properties rose to 22.6 per cent of new launches in the second quarter of last year while the index for properties prices skyrocketed.Surely, this doesnt add up? :confused:

[jan tomaswaki]

For Damen's price of RM700 psf, I might as well buy a unit near KLCC going for RM750 psf. Admittedly small (about 500 sf studio) but will definitely get better rental than Damen's.

Boss, can you name where is the area in KLCC is going RM750psf?I am very very interested.Cheers

[Rhiga]

can you name where is the area in KLCC is going RM750psf ?


Setia Sky... with 800 units in 4 towers .

[jan tomaswaki]

Setia Sky... with 800 units in 4 towers .
Oh! i think it is quite near the G Hospital(Jalan TUn Razak not Jalan Ampang ,)

[Rhiga]

Yup, it is at the junction between Jln Tun Razak and Jln Semarak, very close to GH, Institut Jantung Negara and the National Library.

I visited the showroom, I am confident of the quality of house and reputation of SP Setia.

But the density and the abundance of the units turned me off.

[SiangMalam]

Boss, can you name where is the area in KLCC is going RM750psf?I am very very interested.Cheers
1,000 sq ft for RM750,000 plus some thrown in for renovation and RM2,000 per month for management fees? Go buy a 2-storey terrace in Ara Damansara lah... gated and guarded original - not use oil drums to block traffic! 24 ft x 80ft summore got playground every 6 blocks and wide open road, why go cramp in a 1,000 sq ft pigeon hole....

RM750,000 I can help you get a semi-detached here in Batu Ferringhi! :D

[jan tomaswaki]

1,000 sq ft for RM750,000 plus some thrown in for renovation and RM2,000 per month for management fees? Go buy a 2-storey terrace in Ara Damansara lah... gated and guarded original - not use oil drums to block traffic! 24 ft x 80ft summore got playground every 6 blocks and wide open road, why go cramp in a 1,000 sq ft pigeon hole....

Yeah lor,but with a pigeon hole i can walk around in boxers,call in a massuase nobody knows .Many things can be done with door close. ;)

[zinglicious]

I am sure in a pigeon hall, you can't run around the trees like some bollywood movies but certainly you can play gin rummy, scrabble or poker either fully dress or in just a boxer. :D
It is open secret where some pigeon holes are used to keep birdies or pussy cat china dolls from Desa Park City to Sri Hartamas. Some says from Boulevard to Tiara, too. ;)
No wonder why all these pigeon holes prices skyrocketed as some of these owners of birdies are rich enough to keep them, feed them and drive them around in Mercedees or Ferarri. :(

[SiangMalam]

Yeah lor,but with a pigeon hole i can walk around in boxers,call in a massuase nobody knows .Many things can be done with door close. ;)
If reasons for your invesments are other than for investment returns ROI and value appreciation, then I can't comment further. But if you wanna drink milk, go buy milk, why bring the cow home? :D

[ng]

Aren't you guys afraid of the bubble bursting ? This unprecedented rise in prices won't last long.... Look at USA in the past which is the future here...

[zinglicious]

Back in the 90's where the sharemarket is at its heights, where even the veggie sellers would stop bargaining with you and kept talking to thier brokers on the phone = they would have said you are gone bananas over the issue of bubble bursting. ;)
While some are making more monies than they would worked in a year paychecks right now with a simple down payment or booking - guess what would they tell you about your warning? = wanna some bananas? :D
They are like Kings of the Hills, Queens of the Quandos so high up in the 20th floors -RM1 million or RM1.5 million 50th condo floors, anything else less than what you said is tarak sen. :eek:
But what do I know - I am just one X olde mean Chef who cant help smiling when they sign the S&P anxiously for thier birdies and get the monies without breaking a hot kitchen sweat.

[CS Chua]

Boss, can you name where is the area in KLCC is going RM750psf?I am very very interested.Cheers
To do that I have to go back and search those websites again so I prefer that you do it. It can be found in the Malaysia Real Estate property forum. They discussed about different projects and one of the KLCC serviced apartments is doing not so well for some reasons. I think there is a night club nearby and making lots of noises. The price has dropped from around RM1000K psf to RM750 psf and not many takers. Recently, after committing to a Cyberjaya condo, an agent called me to offer a KLCC apartment at that price. Since I am committed I was not interested in the details.

The fact is, there are good buys if one looks hard for it. It means constant reading of the forums, with friends, and keeping a look out all the time. Good things do not stay too long.

[CS Chua]

Aren't you guys afraid of the bubble bursting ? This unprecedented rise in prices won't last long.... Look at USA in the past which is the future here...
Very true. What goes up must come down. That is why location, location, location is very important. And you must always do your home work otherwise it will come back to haunt you. Why are you buying that unit? Who is your targeted tenant? Expatriate? Students? Local? For example, I wrote earlier to consider Sg Buloh. Now, would expatriates flock to Sg Buloh? Obviously not so buying a condo or serviced apartment in Sg Buloh for rent to expatriates will not be wise. But locals will not pay that good price either. So, for Sg Buloh, near the MRT stations, I will go for landed properties and keep it for capital appreciation. That means holding power.

In good location, the correction does not usually take the price back 5 years ago. Maybe 2 years ago. For example, the correction happens in 2012, the property in good location may fall to 2010 prices. Usually, experts will say about 10-15%. So, if you enter the market even mid-way in the cycle, you can still make money. But in bad location, anything is possible. But of course, if there is blood on the street, everything is affected. But then, Rockefeller said, when there is blood on the street, buy properties!!!

[zinglicious]

Aren't you guys afraid of the bubble bursting ? This unprecedented rise in prices won't last long.... Look at USA in the past which is the future here...

Here is the scary part from USA. The Florida which used to be darlings for home investments - mid to long term, keep dropping with today outlook forecast with gloomy looks for the next 5 years. http://finance.yahoo.com/blogs/daily-ticker/15-worst-housing-markets-next-five-years-124724891.html :eek:

Caveat here is that if your investment is as strong as the Rockerfella , it doesnt matter whether it is up or down. One of the past time and secret of success of KLKepong late boss - Dato Lee Loy Sen was buying when sipping his Kopi when everything was on its way down. ;)

The only thing I am pretty sure - once the price of Teh Tarik goes up, it never comes down. :o

[CS Chua]

Setia Sky... with 800 units in 4 towers .
Summer Suites, Menara Solaris KL by Sunrise at area between Jln Sultan Ismail, Rennaisance, Cendana & Ampang Elevated Highway was launched and sold out early this year at RM729 psf for their studio unit. Since it is by Sunrise, it was fully booked very fast. But there are a number of negative factors.

[CS Chua]

Here is the scary part from USA. The Florida which used to be darlings for home investments - mid to long term, keep dropping with today outlook forecast with gloomy looks for the next 5 years. http://finance.yahoo.com/blogs/daily-ticker/15-worst-housing-markets-next-five-years-124724891.html :eek:

Caveat here is that if your investment is as strong as the Rockerfella , it doesnt matter whether it is up or down. One of the past time and secret of success of KLKepong late boss - Dato Lee Loy Sen was buying when sipping his Kopi when everything was on its way down. ;)

The only thing I am pretty sure - once the price of Teh Tarik goes up, it never comes down. :o
Maybe can buy holiday home there. Get a few forumers and share lah.

[zinglicious]

Apart from what you see from Miami Vices movies , what you see on the streets is not usually PYT but oldies in reality. In fact, traffic can be slow over there and not because of the jam but seniors driving slowly! :D
But read between the lines, it would remain rainy and gloomy for the next 5 years according to the forecast. :eek:
On the other hand, the forumers here cant even share Teh Tarik sessions at usj, how to share the oceanic views at Miami Vices? :confused:

[shamburke]

Got TT session?? when??

[zinglicious]

The last tango in usj was many many moons ago - http://www.usj.com.my/bulletin/upload/showthread.php?t=5204&page=189&pp=15

[rakyat]

If reasons for your invesments are other than for investment returns ROI and value appreciation, then I can't comment further. But if you wanna drink milk, go buy milk, why bring the cow home? :D

Words of wisdom, words of wisdom :D

[SiangMalam]

Words of wisdom, words of wisdom :DCareful buddy... the ladies will also say among themselves "if you want to eat sausage, why bring the pig home?" So, the pisau cuts both ways yah... :D

[Henry T]

The Gomen is very pleased with this scenario.

They are laughing all the way to the Treasury. Can you imagine the amount of stamp duties they collect? :D

[CS Chua]

The Gomen is very pleased with this scenario.

They are laughing all the way to the Treasury. Can you imagine the amount of stamp duties they collect? :D
I do not mind the Treasury making money but why should the lawyer make 1% for doing paper work? I find it ridiculous. The government should make it a flat rate based on the house prices like RM1000 for houses below RM200K, RM1.5K for houses below RM500K etc. The paper work is the same whether the house is RM100K or RM1 million but for the RM1 million house it is a cool RM10K fee.

[Henry T]

I do not mind the Treasury making money but why should the lawyer make 1% for doing paper work? I find it ridiculous. The government should make it a flat rate based on the house prices like RM1000 for houses below RM200K, RM1.5K for houses below RM500K etc. The paper work is the same whether the house is RM100K or RM1 million but for the RM1 million house it is a cool RM10K fee.


I find it ridiculous why a Toyota Altis costing only USD12k in Japan should be selling for about 110k here. Hawkers and coffee shops are arbitrary increasing prices. See, we can complain no end. :D

Anyway the fees scale is fixed by the Bar Council. Lawyers and hawkers are like you and me and have ambitions too. They too aspires to own a bigger house, drive nicer cars and send their children to the best schools.

We make money from others and others profit from us. This is the world.

Like you, I don't mind our tax money going to the Treasury, but I do mind very much what they do with it. :cool:

[jan tomaswaki]

I find it ridiculous why a Toyota Altis costing only USD12k in Japan should be selling for about 110k here. Hawkers and coffee shops are arbitrary increasing prices. See, we can complain no end. :D :


Correct me if i'm wrong,my japanese client told me if you buy a car,you need to pay for your house parking etc...but after 2 yrs your car will be write off :( unless you pay special taxes.Can anyone clarify?

[rakyat]

Correct me if i'm wrong,my japanese client told me if you buy a car,you need to pay for your house parking etc...but after 2 yrs your car will be write off :( unless you pay special taxes.Can anyone clarify?

I was told that after 5 years there is compulsory annual inspection (kind of like our puspakom inspection)

The inspection is rather strict (including checking wipers condition) so most japo are not bothered, just change car since cars are like 3 months salary instead of of bolehland's 5 years salary :mad:

[jan tomaswaki]

I was told that after 5 years there is compulsory annual inspection (kind of like our puspakom inspection)

The inspection is rather strict (including checking wipers condition) so most japo are not bothered, just change car since cars are like 3 months salary instead of of bolehland's 5 years salary :mad:
I think it's 2 yrs,but after 5 yrs you need to scrap it :confused:

[currymee]

I think it's 2 yrs,but after 5 yrs you need to scrap it :confused:

That may explain WHY ALL NEW JAPANESE CARS "KONK" AFTER 5 YEARS !!! No point building it to last like in the OLD DAYS !! :(

[CS Chua]

That may explain WHY ALL NEW JAPANESE CARS "KONK" AFTER 5 YEARS !!! No point building it to last like in the OLD DAYS !! :(
That is a very old myth lah. Look at the price of the Toyota Corolla SEG 1.6 1994-1995 model. It is still going above RM20K. Look at the Mercedes Benz 124 model, around 1994-1995 too, it is around RM20K only. But that Merc was more than RM200K vs. that Toyota Corolla around RM70K when new. If Japanese cars konk out so fast, how come used Mercedes cars prices drop like a stone where else Japanese cars have far better value? Look at Volvo. Do you know you can get a Volvo 940 GL 1994 model below RM10K? My 1996 Camry still fetch slightly below RM20K and if you sit inside my Camry, you will be surprised how new it looks inside. And everything works since new; power windows, electronic side windows, sensors, ABS, etc

So, not true lah. They build quality things and that includes the washing machines, air -con, TV, fridge, vacumn cleaners etc. Those myths are started by non-Asians businesses who cannot compete against the Japs.

[CS Chua]

Oh, the reason why they change cars so fast is because they are rich so they do not want to be bothered about going to the mechanics for service and repairs. Many Japanese executives work long hours so, unlike the Malaysians who like to hang around the workshops waiting for their cars to be repaired, they prefer to buy new cars every 3-5 years. Nothing unusual because I know of people that does that too. My younger sister is one of them. Not because the cars are not good but because no hassles of maintaining it.

[jan tomaswaki]

That may explain WHY ALL NEW JAPANESE CARS "KONK" AFTER 5 YEARS !!! No point building it to last like in the OLD DAYS !! :(

No way lah,japanese cars and motorbike are built to last.My friend try to change his Honda C70 and throw his bike from 2 floors :eek: but still manage to start the bike :D My Japanese friend change his new Estima after 2 yrs and clock only 10,000km to avoid the hassle of going to Japanese "puspakom".The reason why we malaysian buy those re-con Jap cars because we knew the condition is almost 99.999% good :D

[currymee]

Oh, the reason why they change cars so fast is because they are rich so they do not want to be bothered about going to the mechanics for service and repairs. Many Japanese executives work long hours so, unlike the Malaysians who like to hang around the workshops waiting for their cars to be repaired, they prefer to buy new cars every 3-5 years. Nothing unusual because I know of people that does that too. My younger sister is one of them. Not because the cars are not good but because no hassles of maintaining it.

WALAU !!!! :eek: :eek:

[Rhiga]

Correct me if i'm wrong,my japanese client told me if you buy a car,you need to pay for your house parking etc...but after 2 yrs your car will be write off :( unless you pay special taxes.Can anyone clarify?

Yes and no,

It is true in metro Tokyo.. but then again if someone can afford to stay in Roppongi [六本木], or Ikebukuro [池袋] in downtown Tokyo, anything else is cheap..

When I stayed at Sagamihara (about 30 mins train distance from Tokyo), there is no such thing of house parking fee.

It is not uncommon that senior staff give their used car as personal gift to new staff due to the hassle for renewal inspection and low resale value..

The biggest deterrent to own a car in Japan (regardless of which prefecture) is the insurance, not the car price or parking fee.

One thing for sure – if you drive in Japan without car insurance, you better hang yourself or run away from the country if the car knock, injure or kill a life…. :eek:

[rakyat]

That may explain WHY ALL NEW JAPANESE CARS "KONK" AFTER 5 YEARS !!! No point building it to last like in the OLD DAYS !! :(

I drive a 1993 Japo car.

But oso spend time in workshop every so often wasting my Sat away :mad:

[ng]

Talk about property bubble today at star.

http://www.starproperty.my/PropertyScene/TheStarOnlineHighlightBox/13215/0/0

[jutamind]

how much is the commission % for seller to pay for property agent nowadays? i know on top of this commission %, there is also a 6% service tax

[zinglicious]

The standard practice is 2% of the transacted price, though officially it is 3%.
In addition to the 6% sales tax , you also have to consider the stamp fees, legal fees which may runs into quite sizable amount.

It is good monies earned by agents who specialize in high end that is why even the Mean Chef threw his apron to don ties and make $$$ out of dealing in condos, wheeling the land deals and training an army to the Art of Money Making.

So to squeeze the juice out of agents - you are suppose to get full professional service from thier representations. Or you can try to cut deals with them to lower the commission rate. That is why the chunks of "best buy" goes to the foreigners as they accepted the standardized commission rate without blinnking an eye lid. All they wanna is the S & P goes as planned and the agents faliciate the sales professionally. Even the new projects or launches, commisions rate has been factored in without you knowing it. But then, sometimes in the hot projects, " more commision are passed under the table!

The actual commision rate may not be the actual amount taken by the representation of your agent where a chunk of it go to agency or co brokering.

[ng]

http://www.homeguru.com.my/property-news/2011/8/907/properties-expensive-to-malaysians-says-homeguru-s

Latest poll say that houses are too expensive

[zinglicious]

The Poll survey among the Malaysians is confusing sometimes. Ironic -just look at those launches at the condo to bungalows, houses to apartments - attended mainly by Malaysians!
Even the "old" houses are not spared as the increase are quite significant across the board from KLCC to Kepong, Subang to Saujana. Heck, even a condo is being sold above million ringgit at Desa Park City and there is current no keen sellers while buyers are making a bee line for the third launch for condo! Old houses at Bandar Sri Damansara though have risen to 100 to 200% over 3 years are without For Sale tags now in the vicinity.
Contrary to old fashion belief - while stock market takes a tumble - the prices for KL properties may not drop!!! Just last week, a group of Hong Kong foreigners were taken to see the properties at Desa Park City. Could help it, As ex Mean Chef, I just gotta ask the meanings of thier purchases where they have been snacking like tibits from condo to bungalow - The facilator which is a high profile international fund executive - "With the fall ( stock Market ), this is where we are gonna to park our monies for the time being. Moreover, it is still cheap if compared to the properties in HK or Shanghai." :eek:

Expensive, - Malaysian still buy and now fueled by foreigners especially from Dubai, India and China! Pelik, tapi benar. :(

Seriously for a landed property now costing about 500K , how the Bolehland salaried workers can afford to buy them? Sumore, have to pay for thier own GnG! :confused: :confused: :confused:

[CS Chua]

So, are the prices holding now that the stock markets have crashed. US and Europe are in deep deep problem and others are saying that China is in for a hard landing. Even oil prices are coming down. I heard from a few agents that things are quieter. Sellers are still asking for impossible prices but buyers are now staying away. Sign of a reversal? Is the bear coming back?

[cml]

A lot of the prices are up in the air prices and actual transactions are normally much lower than that asked for if the sellers are serious in selling. Agents will get you interested by quoting astronomical prices but then when the discussions get serious they will be on the side of the buyer trying to push down the price so that the deal is done.

[CS Chua]

I find Malaysian property agents wanting in many aspects. After getting their 2%, they disappeared. They earn buta gaji their money. In Singapore, they are obliged by law to provide many services after sale. Over here, they do not even help to facilitate bank loans, S&P, etc etc. And what you wrote is so true. Sometimes, I feel that they are more concerned with the buyer's interest than the seller's. Apparently many do not know where their toast is buttered. :confused:

[jan tomaswaki]

I find Malaysian property agents wanting in many aspects. After getting their 2%, they disappeared. They earn buta gaji their money. In Singapore, they are obliged by law to provide many services after sale. Over here, they do not even help to facilitate bank loans, S&P, etc etc. And what you wrote is so true. Sometimes, I feel that they are more concerned with the buyer's interest than the seller's. Apparently many do not know where their toast is buttered. :confused:
exactly!that's what i cancel a dsl house after the agent treat me that way :mad: Sumore i cancel the deposit and she do not bother ask why :mad:

[cml]

When times are good they dont bother cos they think that people will just buy and buy like they buy groceries. These fellas are very short term thinkers. Some of them will probably give up and do other things when things get tough.

[CS Chua]

exactly!that's what i cancel a dsl house after the agent treat me that way :mad: Sumore i cancel the deposit and she do not bother ask why :mad:
My agent proudly told me that he earns RM40K a month. Maybe yours' too. :p

[leetickseng]

Just a couple of months ago, a property agent tried persuasively on me to purchase a certain property, citing good interest rates, prices going up near future, no better deal than now, bla, bla, bla...I was not so keen at that point of time and when I said if it was so damn good why can' you buy it yourself? Immediately she was taken aback and kept quiet...

[ng]

I find Malaysian property agents wanting in many aspects. After getting their 2%, they disappeared.

If you talk to these property agents, you'll find that the older agents are either uneducated uncle/auntie with no qualifications.

The younger ones are those from 'university' with low grades or 'mass produced' graduates.

Most of them dont have character integrity or responsibility as when something goes wrong, they dont bother to solve it (after getting their commission). I have met quite a number of them.

[jan tomaswaki]

If you talk to these property agents, you'll find that the older agents are either uneducated uncle/auntie with no qualifications.

The younger ones are those from 'university' with low grades or 'mass produced' graduates.

Most of them dont have character integrity or responsibility as when something goes wrong, they dont bother to solve it (after getting their commission). I have met quite a number of them.

I think those you mention are unlicence agents,meaning haven't pass exams yet,and there are many of them now.

[ng]

http://mrproperty.me/making-sense-of-swelling-house-prices

USJ house prices skyrocketting....read article

[CS Chua]

I think those you mention are unlicence agents,meaning haven't pass exams yet,and there are many of them now.
They are unlicensed. The licensed ones run the company and take 20% of the 2% commission. Sometimes it is 30%/70%. They could have 50-100 of these unlicensed agents working for them without pay. It is a very lucrative business if you have a few hard working agents who are high achievers. If you ask me, this kind of business should be banned. This will force all agents to be licensed. It is high time the government regulate this industry but then I might as well wish for the moon.

[Rhiga]

It is demand & supply….

Almost every industry allows such “parasite” to co-exist to make things easier (supposedly)…. Exp, the runner/middle man/agent in the transport industry, car industry, banking industry/land office, etc, etc.

Due to the intentionally created grey area and the general attitude of people who want things to get done fast and hassle-free, it creates the demand of such fellas..

Back to the property sector, I seriously don’t see the need for the service of property agent.

Come on, for general folks.. how many properties you can have in your entire life that you are too busy to handle yourself, too complicated that is beyond your ability to handle yourself.. ??

Just ask a simple question – what values this property agent can bring to the negotiation table, especially to the seller ??
They don’t provide, they can’t provide and they are not educated enough (most of them) to provide professional real-estate knowledge, details analysis and in-depth property info.

The only value I can think of – they help to filter the potential buyers which do not fall into your preferred customers list, and hence it helps to reduce the unscrupulous buyers..

I sold a property in Goodyear court before all by myself…..
I advertised in the Star Classified, I bought a pre-paid phone just for this purpose (I terminated the number after I sold the property), I prepared a list of questions when I speak to caller (to screen those “waste of time” buyer), arranged them to view the property only on weekend day time… I sms their vehicle number to someone just in case… etc

It took me more than 4 months to sell the property, and after meeting 20+ fellas....

[ng]

It is demand & supply….


It took me more than 4 months to sell the property, and after meeting 20+ fellas....

I did the same but I didnt advertise in thestar newspaper. I just hang a 'for sale' sign outside my house and many people will phone up.

Quite easy to sell but that was before the house prices skyrocket or else I would earn much more now. :(

I have bad experience with almost all real estate agents as most of them dont really provide much service and think their work is 'worth more than doctor or engineers professional services'. :rolleyes:

[Rhiga]

.....Quite easy to sell but that was before the house prices skyrocket or else I would earn much more now. :(



Well, we never know... or else will buy a few units 3-4 years ago and shake legs now.... :D :p

I did some real life comparison in investments, gather from my own and from friends/relatives..

Actually, there are very limited investment choices for small fry like me...
Among those investment options are unit trust, residential property, share market...and bloody FD.

IMO, for long period return (more than 10 years), share market is the best, follow by property and unit trust...

The ROI in property investment is very relative.. if you limit the timeframe to less than 5 years and when timing is good, property is the best shot. After 15 years and more, the net annualized return of property is not really fantastic ...

Just my 2 cents experience..

Cheers

[CS Chua]

Well, we never know... or else will buy a few units 3-4 years ago and shake legs now.... :D :p

I did some real life comparison in investments, gather from my own and from friends/relatives..

Actually, there are very limited investment choices for small fry like me...
Among those investment options are unit trust, residential property, share market...and bloody FD.

IMO, for long period return (more than 10 years), share market is the best, follow by property and unit trust...

The ROI in property investment is very relative.. if you limit the timeframe to less than 5 years and when timing is good, property is the best shot. After 15 years and more, the net annualized return of property is not really fantastic ...

Just my 2 cents experience..

Cheers
It really depends on location. For most location the NAR for landed property is about 3-4% depending on capital appreciation. Landed property is not about rental income. It is about capital appreciation. So, a corner lot will be a better investment. As the current market has shown, the NAR can be fantastic if one holds long enough. Malaysia being an emerging market will always see high growth for its property. And now that the government is leading the country towards a high income society, I can see that property will rise more than the current prices...in due time.

For condos, the NAR is dependent on the rental plus capital appreciation. A number of projects around KLCC, Mt Kiara, KL Sentral, Amcorp, SS16, etc have shown that it is possible to have both. From a low of RM300 psf, some are selling at RM800 psf now and with good rental to match the current pricing. At current pricing, most owners will still get about 5%, what more about the original owners? They are laughing to the bank.

For me, there are 3 rules:

1. Location, location, location.
2. Buy low, sell high and not buy high, sell higher.
3. Buy within our means. No cash flow problem later on.

[Rhiga]

......For me, there are 3 rules:

1. Location, location, location.
2. Buy low, sell high and not buy high, sell higher.
3. Buy within our means. No cash flow problem later on.

I guess this is the most difficult part !! :(

[CS Chua]

I guess this is the most difficult part !! :(
Ya lah. Have to wait for the full cycle everytime but I am not in a hurry to get rich. If I can buy 2 properties every 7 years, I am a happy man. :D