Author Topic: Let's talk property  (Read 92353 times)

Offline besview

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Let's talk property
« on: September 17, 2010, 10:52:51 AM »
Hey all sifus,
We have seen a surge in property prices over the past year wherby most went up by 50%  easy.Most owners would be wondering whether to take profits in fear of the bubble bursting.Those holding 5 or more would be interested. I took profit on just 1 of my properties when it touched 80% nett  gain.Just thinking of disposing more,all which are currently rented out to expats.

Penny for your thots :)

Offline terrenceterrence

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Re: Let's talk property
« Reply #1 on: September 17, 2010, 10:56:09 AM »
wow never knew there are such good gains in KL prop.  :)


was thinking..whether should i get a place in KL since they came up with so many restrictions on ownership of properties over here in SG.

But the thing about it is that..i seldom/rarely  go back to KL and dunno anyone that could "jaga" and rent it out for me. would u think buying commercial prop is better?
« Last Edit: September 17, 2010, 10:58:57 AM by terrenceterrence »
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Offline takashi78

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Re: Let's talk property
« Reply #2 on: September 17, 2010, 10:59:30 AM »
Most went up by 50%?
Which area?

Offline besview

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Re: Let's talk property
« Reply #3 on: September 17, 2010, 12:10:39 PM »
Most went up by 50%?
Which area?

I'd say up to 50% lah..Case in point my SS2 Ken 2 just sold for 80% gain.S15 Millennium Place 50% since 2006,just to name a few.

Terence,
Not familiar with comm props as I only go for condos.Renting to expats ensures payments as we know the company they work for,usually a multinational.
Comm props,if the biz does well,good for u lah,but if they bungkus,they run away and on top of that,u might have to demolish their renos.means $ out   the door.Hard to gauge whether a potential client is a good paymaster.If bank want to rent,then u will hv peace of mind :)
Tricky if u r in Sg

Offline terrenceterrence

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Re: Let's talk property
« Reply #4 on: September 17, 2010, 12:25:51 PM »
my bro's new place in Casa Suites seems to be going up quite healthy in it's price. was really tempted to get a unit since it's next to tropicana city mall and freehold.

btw what's the interest rates in MY nowadays?
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Offline besview

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Re: Let's talk property
« Reply #5 on: September 17, 2010, 12:32:54 PM »
Terence,

Ken2 is next to Casa suites,and they also have appreitaed,helped along by TC mall.
You will be looking at BLR -up to 2% depending on which bank.
Buy a CD unit at its peak price now?

Offline chrisyen

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Re: Let's talk property
« Reply #6 on: September 17, 2010, 12:39:40 PM »
Desa park city went up to more than 60% since 2008
their recent terrace asking rm1.8mil. Sold out in the balloting...
Now got 150 ppl with money in the waiting list
those who bought before 2008 is laughing

yesterday receive newsletter from jade hills, this weekend they r launching their new hill terrace, 24x75 built up 2530sf. Price from rm859k
their first phase 1yr ago selling rm650k 26x80 built up 2530sf

blue water in mines just launched their terrace at rm900k

summerglades terrace houses in cyberjaya selling rm900k, sold out now... The new owner got chance to stay beside tun dr m

ytl sold out it's new phase of lake field in sungai besi before official sales launch
rm650k 20x75 3 storeys built up 3000sf lease hold
ealier phase only selling rm400k 4yrs ago

if u guys r serious in property... Look at kajang area, it's only 15mins from town! The greater kl plan has lots of gov infra in it. Last week paper talk about kajang 2. New train station n new interchange! Kajang seremban highway completed, skve also opened n now link up bangi to elite highway near saujana putra. Silk highway still free flow... Heard setia paid earnest deposit for 1500acres land in semenyih...
When sunway already in semenyih, ttdi owned 100 over acres in kajang, gamuda jade hills, lum chang twin palm, mutiara nadayu in kajang2, hong leong the nest is waiting for time in saujana impian area...

Somemore with so many universities around... Upm, umm, uniten, mmu, Nottingham....

U can't miss this understated small town!  

 

Offline chrisyen

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Re: Let's talk property
« Reply #7 on: September 17, 2010, 12:42:23 PM »
Bank rates is still good for undercons property

lowest is blr - 2.3
most bank giving - 2.2 now
eon also offering fdr + 1 %

 

Offline terrenceterrence

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Re: Let's talk property
« Reply #8 on: September 17, 2010, 12:49:20 PM »
how bout condos in the central area? looking into something that i could rent out ....
Better outrun my gun....faster than my bullet


Offline chrisyen

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Re: Let's talk property
« Reply #9 on: September 17, 2010, 12:57:04 PM »
I will say do not simply go into property investment now!

The bubble is forming. Most bankers I spoke to are quite concern

Especially those on low leverage n buying condo hoping for good rental return...

But it is good to buy a freehold landed property to stay
especially those properly planned gated n guarded

desa park city success it's not overnight, recently I attended a morning talk with it's CEO
u may think the price is high but they r plenty of buyer waiting fir such well planned property!

My previous gated n guarded project in section 4 Kota damansara selling rm300k 7yrs ago... Now double!
bkt Mandarina ijm in Connaught went up to rm900k from rm500k in 2 yrs...
Look at bkt Gita bayu...
Alll this well concept lifestyle gated guarded property will should up when ppl start moving in n the trees are well growth... Price grow up by rm100k instead of talking bout percentage

Luxury condo in klcc area all still low occupancy, plenty under construction now
mont kiara new condo also low in occupancy...
So becareful on Luxury condo....


Offline chrisyen

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Re: Let's talk property
« Reply #10 on: September 17, 2010, 01:01:52 PM »
how bout condos in the central area? looking into something that i could rent out ....

find those with college n university nearby
also hv lrt n commuter station in walking distance
ytl mid field gone in 2 days, platinum setapak sold out, axis pandan as well...
Permaisuri rm280k condo sold out in half day 2 mths ago...
Another developer dwitasik now balloting for their last project lower dense rm370k condo... Check iproperty n see

n my company is going to launch saville melawati next month! Hot sales expected rm350psf

Offline besview

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Re: Let's talk property
« Reply #11 on: September 17, 2010, 01:12:19 PM »
Chris,

Exactly my thots.Its probly at its peak and thot of cashing out big time and look at   the UK market and take advantage of the depressed pound and RE market.I'd advice Terence not to go in now unless its for his own occupancy.Thing is,rentals are not keeping pace with the currently market prices.Gross yield for most of my properties are ard 9-10% FF but if against current valuation,GY probly less than 7 %. KLCC definitely in the doldrums now.The safest ones to invest in are those whose rental yields about 2-3k per mth.

Well,Kajang was and never had been on the radar til now.Like you mentioned,this could be"it".I'd still like to explore the UK market as when the pd goes back up and property prices rebound,it'll be a double bonus :Cheers:

Still can get up to -2.3%?.I've not checked of late as buying has stopped,but buying watches have not :Cheers:

Offline takashi78

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Re: Let's talk property
« Reply #12 on: September 17, 2010, 03:30:44 PM »
Wow the prices you all talking all over half mil.
Anything good for under 200k?
Or at the 200k-400k range?

Offline besview

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Re: Let's talk property
« Reply #13 on: September 17, 2010, 04:08:56 PM »
Chris,
You work for developer ?Or you ARE the developer :thumbsup:

Offline chrisyen

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Re: Let's talk property
« Reply #14 on: September 17, 2010, 10:26:28 PM »
Chris,
You work for developer ?Or you ARE the developer :thumbsup:

working class..... like a slave for my past 10 yrs!  :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor:

tomorrow suppose i'm off but still got to go and look see look see a new property launch in semenyih...
then tomorrow night got to attend a dinner with boss....

Offline dennis.T

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Re: Let's talk property
« Reply #15 on: September 17, 2010, 11:09:45 PM »
I know desa park bungalow is ard 1 mil few yr back b4 construction kick off n now there can sell up to 1.8 mil :o I went to ytl sg besi show house with my senior b4 their soft launch but been informed tat all sold out. Ask us wait for phase 2.
I dnt know how e Shah Alan property market now? But during e time I work in KL, my ex-company seen like they making alot in shah alam n keep on launching phase by phase n e respond is quite good   

Offline wslee

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Re: Let's talk property
« Reply #16 on: September 17, 2010, 11:15:23 PM »
Property prices has risen a lot through out the this year in particular. All new launching property by developers ranging at least RM500k and above. Even for second hand property esp landed also increased a lot. I know a person who purchase a property from owner for about RM500k just before the CF was being approved,that person told me the owner purchased for about RM380k during the lauching. I was like wow!!!! Indeed i feel the market is overheated now,even fresh graduate cant afford a house/condo,is way beyond their budget.
Quote from warren buffet "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful"

Offline besview

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Re: Let's talk property
« Reply #17 on: September 17, 2010, 11:57:05 PM »
Chris,
You work for developer ?Or you ARE the developer :thumbsup:

working class..... like a slave for my past 10 yrs!  :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor: :Laughing_on_floor:

tomorrow suppose i'm off but still got to go and look see look see a new property launch in semenyih...
then tomorrow night got to attend a dinner with boss....

What watch will u be wearing?Can't help it,after all this is a watch website :Laughing_on_floor:

Offline besview

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Re: Let's talk property
« Reply #18 on: September 17, 2010, 11:59:02 PM »
Property prices has risen a lot through out the this year in particular. All new launching property by developers ranging at least RM500k and above. Even for second hand property esp landed also increased a lot. I know a person who purchase a property from owner for about RM500k just before the CF was being approved,that person told me the owner purchased for about RM380k during the lauching. I was like wow!!!! Indeed i feel the market is overheated now,even fresh graduate cant afford a house/condo,is way beyond their budget.
Quote from warren buffet "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful"

That is why I have stopped buying the past year.cashing out is what seems rational but if one does not need the $$,also dunno where to park.For me,I know where to park..in the UK :Cheers:

Offline wslee

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Re: Let's talk property
« Reply #19 on: September 18, 2010, 12:54:35 AM »
Oh cool,thats good for you =)

Anyway just wondering whether any of the Sifus here do invest in shares?

Offline chrisyen

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Re: Let's talk property
« Reply #20 on: September 18, 2010, 08:45:38 PM »
I went to ytl sg besi show house with my senior b4 their soft launch but been informed tat all sold out. Ask us wait for phase 2.
[/quote]

phase 2 sold out before official launch last month....
rm638k ++ if not mistaken
20 x 75
built up 3000sf
3 storey

Offline chrisyen

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Re: Let's talk property
« Reply #21 on: September 27, 2010, 10:19:50 AM »
Developer in uk can't sell it so they bring it to sell at other country

just like few yrs ago developer in Australia not doing well there so they bring it here
now plenty of Chinese go n buy there so they seldom promote here in Malaysia

is profitable plots still selling? Any1 getting gd return for that? Pls share

Offline adrian

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Re: Let's talk property
« Reply #22 on: September 27, 2010, 01:05:14 PM »
Developer in uk can't sell it so they bring it to sell at other country

just like few yrs ago developer in Australia not doing well there so they bring it here
now plenty of Chinese go n buy there so they seldom promote here in Malaysia

is profitable plots still selling? Any1 getting gd return for that? Pls share

Isn't profitable plots illegal and considered a scam by SC?

Offline chrisyen

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Re: Let's talk property
« Reply #23 on: September 27, 2010, 02:26:42 PM »
It's sponsoring the espn for a very long period

not sure it's legal or not now

to buy property in other countries many thing need to study
1. Eligible to buy? N restriction to sell layer
2. TaxEs for foreigner
3. Can foreign bank give financing... interest Rates? Some country like Vietnam n Indonesia is really high! Malaysia bank seldom finance other country property
4. How transfer money back when u sell. Some country do not allow u to do so.., eh: china, so alternative ways available but with extra cost
5. Etc 

Offline adrian

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Re: Let's talk property
« Reply #24 on: September 27, 2010, 04:40:55 PM »
It's sponsoring the espn for a very long period

not sure it's legal or not now

to buy property in other countries many thing need to study
1. Eligible to buy? N restriction to sell layer
2. TaxEs for foreigner
3. Can foreign bank give financing... interest Rates? Some country like Vietnam n Indonesia is really high! Malaysia bank seldom finance other country property
4. How transfer money back when u sell. Some country do not allow u to do so.., eh: china, so alternative ways available but with extra cost
5. Etc 

Yeah, at one time it was very "hot".

I don't follow it but the reason I ask this is bcoz in one of my client meetings with SC, it was brought up by them as a scam. Many complaints were received and they had to act on it. The local company was raided and it was a big mess. I think if you google it together with the word scam, you'll see some every "interesting" articles.

Oh well anyway, I've got no money to spend on properties. Spent it all on watches.  ;D