Author Topic: Property still hot?  (Read 19276 times)

Offline chrisyen

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Property still hot?
« on: September 24, 2013, 12:15:11 AM »
Last few weeks lots of heavyweight launches....

Last Sunday the ecoworld's echo sky at Tmn wahyu was hot, block 1 by sapu internal staff and associate, block 2 also all sapu when open to public on 22sep

Mah sing south ville 3000 unit affordable apt also sold during launch

So as Setia ecohill at broga, the bungalows lot was sold out few mths ago, now the first phase of terrace also all gone

JB property also hot cake, country garden, mct, Wct, dijaya, mahsing, SETIA, ecoworld, sunrise-uem, etc all selling well.....

Now even ah sou also talking property in wet market, it's like how many unit u bought?

Offline hanz079

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Re: Property still hot?
« Reply #1 on: September 24, 2013, 06:53:04 AM »
Wow... even wet market aunties are speculating on property?
Is this like the prelude of great stock market crash when shoe shiners gave out stock tips...
Time to scale back maybe?
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline Empty Tree 8

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Re: Property still hot?
« Reply #2 on: September 24, 2013, 11:30:24 AM »
I wonder if all these is DIBS and cheap money fueled? Truth will come when settlement comes up. Unlike stock market with 3 days to cough up, this is 3/4 years to cough up......but if it really is fueled by specs, the reality might come up sooner than one thinks. It's really only 5 years more to the next downturn.....    :o :o :o

Buy watches better!!!! 

Offline 7thfort

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Re: Property still hot?
« Reply #3 on: September 24, 2013, 11:41:44 AM »
History will repeat itself. Unfortunately many have short memory.

Offline hanz079

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Re: Property still hot?
« Reply #4 on: September 24, 2013, 03:32:05 PM »
My opinion is that when the middle class can no longer afford most of the prices of the homes for sale, then it will correct itself....
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline chrisyen

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Re: Property still hot?
« Reply #5 on: September 24, 2013, 03:48:44 PM »
4 yrs ago, my ex company went to nusajaya 1medini, that time land price was ard rm130psf (it's actually price on usd on gross floor area)

I work out to sell rm380psf for the apartment to achieve 20% margin
I thought it was tough, being the first guy to build a high rise there
It still like ghost town that time

Going to open Newcastle uni first few intake only few hundred of student
Going to open Lego land worker n visitor won't be staying there for sure...

Local who work there at Kota iskandar.... Will always stay in landed prop ard Bkt Indah, gelang patah, perling, skudai, tampoi, etc
Food, amenities, shop.... Are still at those area

So who is going to stay at 1 Medini? Singaporean?
(We went for it due to other reason)

But when investor from KL, those msian work at oversea n spore buying danga bay project at rm700psf

The 1 Medini who first launched at rm450psf looks like a bargain!


But big question still unanswer - who is going to stay at iskandar?
I believe most buyer r investor - (I don't see ppl arguing on this point)

So if no 1 is going to stay... Imagine in 3-5 yrs time....
Country garden, mah sing, Gamuda, Wct, mct, Berjaya, etc

20k+++ unit of apartments into the completion....
What gonna happen?

Our SMEs ard very much depend on low cost labor which can nvr afford for these kind of apt
Sporean move over?
In migration from other state?
Upgrade to this for better home?

I hv no clue how this market going to sustain....

Offline hanz079

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Re: Property still hot?
« Reply #6 on: September 24, 2013, 05:21:55 PM »
Phew... I tot Chris is going to disagree since you are in the property business... Hehehe
But in the end, those that can afford, can still buy for own stay.
As for speculating. Bad time i think.
Another thing that i don't like is when a certain property is almost sold out on launch day.
Then when the said property is completed with COF issued, most sell the place.
And the "seller" are usually the employees or te management that retain the property.
This creates artificial demand and it causes genuine buyers to miss buying the house at the "original" selling price.
Buyers would have to settle with "inflated" price.
Sienz...
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline chrisyen

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Re: Property still hot?
« Reply #7 on: September 24, 2013, 07:07:32 PM »
More often ppl in the line see more risk
But having said that, tomorrow more Chinese main lander come to buy
Don't blame me

Offline dpkong

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Re: Property still hot?
« Reply #8 on: September 24, 2013, 08:34:54 PM »
If not mistaken, most properties are "sold-out" only to buyers who are willing to pay a small sum to reserve the unit(s). When the time comes to sign the S&P and pay up, many will have sold to another buyer at an inflated price, failing which they will need to start preparing loan agreements. Some can and some won't.

Then of course there are the buyers who are actually a group of people pooling their resources for a unit hoping to make a quick profit selling to eager buyers.

There is no doubt that many Malaysians are sitting on a pile of cash and finding poor returns on standard investments so speculating on the property market is more profitable. The recent proposals to hike RPGT is not going to deter these people.

The gov't and developers are working hand-in-glove to milk the market and the only correction will be a market collapse, if and when development outpace real market demands. The developers should be smart enough to do that research to prevent that but then they cannot control external factors.

So in the end, the real losers are the actual homeowners ie. those who are going to work 10 hour days for 30-35 years to finance a measly 1,200 sq.ft. "condo".









Offline Alvin-8880

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Re: Property still hot?
« Reply #9 on: September 25, 2013, 11:50:35 AM »
I believe there are many foreign buyers who find Msian properties attractive.

Looking around countries in this region, which country can provide good price, good legal system to protect their investment, language advantage (at least English & Mandarin or dialects, Malay), vast land, food varieties, disaster-less, etc..

I think Msia really attracts many North Asians to invest here, maybe under 2nd Home scheme...   

Offline chrisyen

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Re: Property still hot?
« Reply #10 on: September 25, 2013, 08:38:36 PM »
Agreed fully Alvin! That's y I said when u thought no demand, country garden can sell few thousand unit

Not just north Chinese

So as Bangladeshi ( most applied and approved for many yrs, just overtook by china in 2011 )


Offline r3kahsttub

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Re: Property still hot?
« Reply #11 on: September 27, 2013, 01:12:31 AM »
I've been looking to purchase my first property for the past  1.5 years or so. The longer I wait, it seems as though the prices keep going up. Most new property is almost impossible to get and/or is ridiculously priced. Rm800psf in a crappy part of Old Klang Road? Really?? Unfortunately, landed property that I can afford is also very far from the city. Developers these days seem to be sold on the idea of selling 'luxury' properties with fancy names; affordable housing looks to be a concept that has (long) expired.

Eventually, scrimp and save to buy sub-sale condo closer to the city; hopefully, it wasn't a wrong decision. Not looking to make a quick buck - just trying to sort out a place to live. This isn't easy for many of the younger generation these days.
« Last Edit: September 27, 2013, 01:14:29 AM by r3kahsttub »

Offline chrisyen

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Re: Property still hot?
« Reply #12 on: September 27, 2013, 09:14:10 AM »
I've been looking to purchase my first property for the past  1.5 years or so. The longer I wait, it seems as though the prices keep going up. Most new property is almost impossible to get and/or is ridiculously priced. Rm800psf in a crappy part of Old Klang Road? Really?? Unfortunately, landed property that I can afford is also very far from the city. Developers these days seem to be sold on the idea of selling 'luxury' properties with fancy names; affordable housing looks to be a concept that has (long) expired.

Eventually, scrimp and save to buy sub-sale condo closer to the city; hopefully, it wasn't a wrong decision. Not looking to make a quick buck - just trying to sort out a place to live. This isn't easy for many of the younger generation these days.

old apartment nearer to town is a gd option.... but pls check their level of maintenance.... and also if it is leasehold, how many yr left!

Offline JPSP

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Re: Property still hot?
« Reply #13 on: September 27, 2013, 09:22:31 AM »
I thought SG is probably the craziest market around but it seems MY is catching the fever! The Asia's economy is  :Confused:

Offline r3kahsttub

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Re: Property still hot?
« Reply #14 on: September 27, 2013, 09:49:59 AM »
Thanks for the pointers, Chris. Not too old; <5years and freehold so I think not as much hassle.

Offline chrisyen

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Re: Property still hot?
« Reply #15 on: September 27, 2013, 10:13:45 AM »
Thanks for the pointers, Chris. Not too old; <5years and freehold so I think not as much hassle.

Find out strata title issued? MC form? Go in see the facilities well maintain...
Which parking is attached to the unit, how far from the unit, pleasant to walk to...
Nowadays Also got to ask around who is staying there... Frequency of break in....  :Confused:

Offline TheHobbit

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Re: Property still hot?
« Reply #16 on: September 27, 2013, 10:16:25 AM »

Nowadays Also got to ask around who is staying there... Frequency of break in....  :Confused:

Yeah, guarded and gated no longer means no break-ins. Sometimes the break-in are insiders, people who rent the units and break-in.

Offline r3kahsttub

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Re: Property still hot?
« Reply #17 on: September 27, 2013, 10:23:11 AM »
Thanks again for the pointers. First time, so learning a lot going through the whole process. Having some pains, especially with my lawyer end who seems to be a little slow.

Speaking of break-ins, some nbhds also facing this issue even with security. Old couple near by house had some people attack them (11AM while sweeping their garden), but luckily they managed to fend off the intruders and run back into the house.

Offline chrisyen

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Re: Property still hot?
« Reply #18 on: September 27, 2013, 10:36:53 AM »
Congrats!

Frust Frust Frust

- pdrm didn't do the job well, yet the igp said under control, back figure n support from minister

- private hv to jaga themselves by hiring security guard

- security guard industry is not well governed, hence u may get sub standard guard

- to put up gate n guard house, often the government themselves give u problem

- worst is msian dunno which gov is which gov, what is their authority....

- even msian hv problem,
 :Blue:
 staying in stratified property also they thought they in kg, want to hv dog n cat, want to plant banana tree, refuse to pay service charges, littering, vandalize, pi everywhere, karaoke party till 4am, use big noisy exhaust n vroooooom in the residential area, speed in the slow lane, double park, shampoo in swimming pool, throw curry into drain, knock down whatever they like when Reno, just want to complaint to mc but don't want to contribute....  :Blue:

Offline Empty Tree 8

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Re: Property still hot?
« Reply #19 on: September 27, 2013, 12:21:01 PM »
Congrats!

Frust Frust Frust

- pdrm didn't do the job well, yet the igp said under control, back figure n support from minister

- private hv to jaga themselves by hiring security guard

- security guard industry is not well governed, hence u may get sub standard guard

- to put up gate n guard house, often the government themselves give u problem

- worst is msian dunno which gov is which gov, what is their authority....

- even msian hv problem,
 :Blue:
 staying in stratified property also they thought they in kg, want to hv dog n cat, want to plant banana tree, refuse to pay service charges, littering, vandalize, pi everywhere, karaoke party till 4am, use big noisy exhaust n vroooooom in the residential area, speed in the slow lane, double park, shampoo in swimming pool, throw curry into drain, knock down whatever they like when Reno, just want to complaint to mc but don't want to contribute....  :Blue:

Hahhaah.....sounds like you did a good long stint on a JMC/MC. God knows, I did my tour of duty too and still doing it in a landed gated guarded. Sometimes, I really feel that the more exclusive  and upmarket the place is, the more difficult it is to manage..... :Mad:

Offline chrisyen

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Re: Property still hot?
« Reply #20 on: September 27, 2013, 12:44:51 PM »
Congrats!

Frust Frust Frust

- pdrm didn't do the job well, yet the igp said under control, back figure n support from minister

- private hv to jaga themselves by hiring security guard

- security guard industry is not well governed, hence u may get sub standard guard

- to put up gate n guard house, often the government themselves give u problem

- worst is msian dunno which gov is which gov, what is their authority....

- even msian hv problem,
 :Blue:
 staying in stratified property also they thought they in kg, want to hv dog n cat, want to plant banana tree, refuse to pay service charges, littering, vandalize, pi everywhere, karaoke party till 4am, use big noisy exhaust n vroooooom in the residential area, speed in the slow lane, double park, shampoo in swimming pool, throw curry into drain, knock down whatever they like when Reno, just want to complaint to mc but don't want to contribute....  :Blue:

Hahhaah.....sounds like you did a good long stint on a JMC/MC. God knows, I did my tour of duty too and still doing it in a landed gated guarded. Sometimes, I really feel that the more exclusive  and upmarket the place is, the more difficult it is to manage..... :Mad:

I am in property development industry more than 10 yrs, also been a condo cm chairman for yrs

So... Still Frust all the time...

U r right, different problem when u go in to a up market place

Rich doesn't guaranteed they r educated, in fact rich ppl bang rules more often than poor
Worst is rich will want the face to take high post, but doesn't mean they will contribute n worst still they will be the first to break the rules

U often seen rich ppl hv big fierce dogs despite rules said no dog, dog shit can b everywhere
U often rich do crazy renovation, nvr follow setback never mind, extension towards other bounty also got
U often seen rich man spoil the overall facade of the environment
U often seen rich man big luxury sport car speed in the compound
U often seen rich double park

Etc

Offline hanz079

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Re: Property still hot?
« Reply #21 on: September 27, 2013, 01:10:29 PM »
Yeah... both my properties also same...
Rich ppl never pay the monthly service fee...
When wanna enter through gate, access card not working (coz never pay so access card denied)
Do they care? Nope, they honk like mad and demand the guard to pen the gate.
Guard also cari makan nia... kesian always kena scolded nia...
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


watchionable.blogspot.com

Offline kenixck

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Re: Property still hot?
« Reply #22 on: September 28, 2013, 06:19:31 AM »
 :Startled:
Congrats!

Frust Frust Frust

- pdrm didn't do the job well, yet the igp said under control, back figure n support from minister

- private hv to jaga themselves by hiring security guard

- security guard industry is not well governed, hence u may get sub standard guard

- to put up gate n guard house, often the government themselves give u problem

- worst is msian dunno which gov is which gov, what is their authority....

- even msian hv problem,
 :Blue:
 staying in stratified property also they thought they in kg, want to hv dog n cat, want to plant banana tree, refuse to pay service charges, littering, vandalize, pi everywhere, karaoke party till 4am, use big noisy exhaust n vroooooom in the residential area, speed in the slow lane, double park, shampoo in swimming pool, throw curry into drain, knock down whatever they like when Reno, just want to complaint to mc but don't want to contribute....  :Blue:

Hahhaah.....sounds like you did a good long stint on a JMC/MC. God knows, I did my tour of duty too and still doing it in a landed gated guarded. Sometimes, I really feel that the more exclusive  and upmarket the place is, the more difficult it is to manage..... :Mad:

I am in property development industry more than 10 yrs, also been a condo cm chairman for yrs

So... Still Frust all the time...

U r right, different problem when u go in to a up market place

Rich doesn't guaranteed they r educated, in fact rich ppl bang rules more often than poor
Worst is rich will want the face to take high post, but doesn't mean they will contribute n worst still they will be the first to break the rules

U often seen rich ppl hv big fierce dogs despite rules said no dog, dog shit can b everywhere
U often rich do crazy renovation, nvr follow setback never mind, extension towards other bounty also got
U often seen rich man spoil the overall facade of the environment
U often seen rich man big luxury sport car speed in the compound
U often seen rich double park

Etc

sounds like some of my friends, quite "malu" they grow up to be like that, maybe it's the people they mix with ... rich chinaman taukeh mentality ... sigh, and also park at cacat parking.


Offline TheGr8One

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Re: Property still hot?
« Reply #23 on: October 18, 2013, 02:31:49 PM »
I follow this post with some interests.
I just know that sooner or later, it will degenerate into govt bashing, but I was wrong.
It's now rich folks bashing, or... misbehaved rich folks bashing.
Anyhow, would like to share my 2 cents when we are talking about North Asians, in this case we are generally referring to the China Chinese.
I've been working and station in Beijing and Shanghai for almost 10 years now.
Whenever I talk to my local colleagues about the property prices in Msia, they are all amazed how... "cheap" Klang Valley properties are.
And we are talking about the average folks here in Beijing, you know, dual income, both sides parents own an apartment, perhaps for a total of 3 or 4 apartments since grandparents generation.
Now, say grandparents passed on, leave behind an apartment for their parents, then parents passed on, that household now inherit 2 apartments, from husband side and wife's side, including their own apartment, we have 5.
The average apartment in Beijing is worth around 5 million yuan, that's RM2.5M.
Say they sell off 2 to pay off their housing loan, and then sell off the other 3. They are cash rich of RM7.5M.
They apply MM2H program and come over to Msia, go ahead and imagine how many properties they can buy.
I personally know a handful of ppl (my staff) own 2 apartments (fully paid for) under their name in their early 30s, gifts from their parents...
They are thinking of applying MM2H and come over to Msia, since I keep telling them how good and cheap Msia is compare to Beijing.
So... back to the question : Is property still hot in Msia?
It all depends on what marketing and awareness initiatives our govt is doing to attract foreign buyers/investors.
My take is that govt is (hopefully) walking a thin line between balancing local interests in keeping the property prices down and attracting foreign $$$. How that balance swings depends ultimately on the rakyat.

Offline chrisyen

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Re: Property still hot?
« Reply #24 on: October 18, 2013, 02:56:58 PM »
agreed with u

Gov headache
If u push mm2h.... Encourage foreigner buying...
Then ppl house price up, ordinary msian suffer... But economy ok

If u stop ppl buying then property price stay but economy slow down