Malaysia Watch Forum
Off Topic => Investment & Real Estate => Topic started by: nurulazzin on February 23, 2015, 07:00:51 AM
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me and my husband planning to buy so call our home for my family this year...
we just shop around, the property price seen like crazy! a condo is about RM500k and above.... low cost apartment also need about RM280k.. it is not cheap :Confused:
many of my friend advised me not to buy property at 2015 - this is year until the economy back into stable.. like this year.. GST implementation on April, the home loan initerest rate with BR is unstable, and they even predict 2015 property market will BOOM!!!
on the another hand. they say.. if you buy property this year.... but next year the price will go hike up... the it will not be RM280k already for a low cost apartment, it maybe RM500k for the apartment...
therefore need sifu, opinion... do you think I should buy property fast fast! or wait....
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Since this property is home and not an investment, buy based on needs not for flipping.
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needs is one things... I still can rent a home... but in fact, I just worry over commitment... don't know can I handle the commitment such as homeloan!!!!
base on current economy...
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Yes you can rent. I did that for a long time. I only bought my house when I turned 36. The best thing is that my EPF as well my disposable income at that age allowed me to get a substantial loan.
btw, what's wrong with the current economy? Its doing quite well actually.
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as i was going thru some ads about properties i think all of them are pretty pricey but i think with the economy in the country not doing so good there are still ppl buying properties and the property market is still moving cuz i have some friends whom are real estate agents can change cars quite often so i guess theres good commission la
http://s1294.photobucket.com/user/Sue_Yee_Tee/media/IMG_20150212_105002_zpsv8wsncac.jpg.html
http://s1294.photobucket.com/user/Sue_Yee_Tee/media/IMG_20150212_105122_zpswsgsb7lo.jpg.html
:mooning:
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Yes you can rent. I did that for a long time. I only bought my house when I turned 36. The best thing is that my EPF as well my disposable income at that age allowed me to get a substantial loan.
btw, what's wrong with the current economy? Its doing quite well actually.
well.. everyone is saying property market boom!!~! economic crises.. GST implementation 6% la! then inflation la!
plus plus RM no value....
it is all sign share the economic is getting worst?
yup if i want to buy house... I will use my EPF too...
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as i was going thru some ads about properties i think all of them are pretty pricey but i think with the economy in the country not doing so good there are still ppl buying properties and the property market is still moving cuz i have some friends whom are real estate agents can change cars quite often so i guess theres good commission la
http://s1294.photobucket.com/user/Sue_Yee_Tee/media/IMG_20150212_105002_zpsv8wsncac.jpg.html
http://s1294.photobucket.com/user/Sue_Yee_Tee/media/IMG_20150212_105122_zpswsgsb7lo.jpg.html
:mooning:
property you show in super expensive/// not in my category!
pay interest also can KILL me for the rest of my life!!!!
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Buy landed properties, then you're safe. :Cheers:
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You need to find some one with the crystal ball to tell you the future ! and this person is not in existence.
Property prices will only go up because our cost of living is going up. Anything around you is going down except for the fuel price.
Good areas will always have short supply problem ( BU, SS2, Damansara Jaya, Desapark for eg ). New areas is cheaper but you got to hang and wait say 10-15 years or longer take for example Bukit Beruntung. Some guy said an Airport going to be built there and BAM everyone went crazy and bought there. And when it did not happen, the appreciation did not happen. So much for someone with the crystal ball then !
Whether you buy now or future you still need to incur interest rate unless you can save so much cash in such a short time and buy the house without loan. Is this probable for your situation ? Only you will know.
Take a 15 year period of my own home ownership. My first home i bought 170k about 15 years ago. I have to sell at a loss at 150k cause the area was not being developed and no proper roads. Second home I bought 10 years ago , 330k which I sold 5 year later for 370K did not it cover my renovation cost. My next home 550K I bought 5 years ago, can now be sold 1.2million but the problem is where am I going to buy if I sell since all properties now in good areas have also moved up ? At least with this home I also get to enjoy the appreciation while I stay in it. If I was renting, I would now need to pay 1.2 mil for the same house where 5 years ago was only 550k. So your interest saving will not far outweight the escalation of the price of the home.
Can you see a trend and foresee if your investment will sure make money ? Well all 3 have different predicaments and they are all in Selangor not some funny forsaken place. So buy what you need or you can afford and if the appreciation dont happen at least you got a home under your roof. Not buying will not improve your situation because money cant grow by its own by sitting in the bank.
Hope this help and this is just my personal experience and I am not a financial guru or big time property investor.
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Have u guys realize, the economy is now from bad turn to worst. My friends that open grocery stores and dried seafood stores complaint that this year not a good year as less customers go buy anything even before and during CNY. Somemore now the home loan changed to BR instead of BLR which is no longer stable, it will just fluctuate according to the economy lehhh. If u really think of getting hse this year, then it will be a huge burden for u man. :Startled:
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You need to find some one with the crystal ball to tell you the future ! and this person is not in existence.
Property prices will only go up because our cost of living is going up. Anything around you is going down except for the fuel price.
Good areas will always have short supply problem ( BU, SS2, Damansara Jaya, Desapark for eg ). New areas is cheaper but you got to hang and wait say 10-15 years or longer take for example Bukit Beruntung. Some guy said an Airport going to be built there and BAM everyone went crazy and bought there. And when it did not happen, the appreciation did not happen. So much for someone with the crystal ball then !
Whether you buy now or future you still need to incur interest rate unless you can save so much cash in such a short time and buy the house without loan. Is this probable for your situation ? Only you will know.
Take a 15 year period of my own home ownership. My first home i bought 170k about 15 years ago. I have to sell at a loss at 150k cause the area was not being developed and no proper roads. Second home I bought 10 years ago , 330k which I sold 5 year later for 370K did not it cover my renovation cost. My next home 550K I bought 5 years ago, can now be sold 1.2million but the problem is where am I going to buy if I sell since all properties now in good areas have also moved up ? At least with this home I also get to enjoy the appreciation while I stay in it. If I was renting, I would now need to pay 1.2 mil for the same house where 5 years ago was only 550k. So your interest saving will not far outweight the escalation of the price of the home.
Can you see a trend and foresee if your investment will sure make money ? Well all 3 have different predicaments and they are all in Selangor not some funny forsaken place. So buy what you need or you can afford and if the appreciation dont happen at least you got a home under your roof. Not buying will not improve your situation because money cant grow by its own by sitting in the bank.
Hope this help and this is just my personal experience and I am not a financial guru or big time property investor.
Thaniks for your advice... it is really true as well u say... the economy cannot be predicted!
anyway I also ask about the interest rate... now it is about 4.67% .. but the agent explain to the rate will goes up and down according to the economy.... buying property. I am got money./.. maintain a property dun know money can maintain or not??
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I am answering it this base on how I would react to this.
I would take the current Bank Loan interest rate and then take the high Bank Loan interest rate ( Assuming it goes up in 1-2 years ) and then find out what is the installment payment so I know I can service the loan even though the interest go up.
So that way, I wont panic when the interest rate go up.
If I lose my job or I over commit on my installment, I will just have to sell the house and move to a smaller one. This is the reality unless you got a rich dad who is around to back you up when you are in trouble. If you make it, you will gain. If you don't make it you make some loss & downgrade but you won't be in total loss position. Have you got any friends who bought house and end up with nothing after they sold the house because they cannot pay the installment ? I dont have any so why should this happen to you ? This scenario will be true for automobile purchase. I have seen many even after selling off still have to pay the bank to settle the car loan due to the high depreciation on cars.
Best is talk to more people who are a lot older and have got more experience and then make your decision from there. Learning from their mistakes is better than you pay for your mistakes. Buying a house is an achivement for me and it can never be a mistake unless you simply buy something over what you can afford and put yourself in a stressful situation.
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If you are buying to live in it then by all means...anytime is a good time. But if you are a flipper and investor, then it's a different story. But then again, you don't call it an asset if it depreciates. Buying stuff that you want like a nice car or a nice watch is extra. But a home is never a bad buy. Go ahead. Find a place you like, make sure you are able to sustain payments for the mortgage and enjoy your new house and make it your home...
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agreed with meoramri
since you are buying a house to stay, just go ahead !
affordable housing - will never depreciate in next few years!
because land price and cost is going up all the time! demand still very much higher than supply. most developer is supplying luxury home and investment type of property now.
and afoordable housing mean 2-3 bedrooms suitable for family, not the lowest price small unit like those studio, soho, sovo, sofo...
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I've just ask OCBC about the home loan interest rate. My loan amount is RM 600k and they offer me 4.65%.. At this stage, I still think its reasonable la.. Is there any better rate I can get ? Pls share ya if there is any recommendation....
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dont think its much affected la some ppl have a certain mindset i guess. to rather not have a change
u guys can have a look here
[ mod : pls do not link to commercial page ]
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I've just ask OCBC about the home loan interest rate. My loan amount is RM 600k and they offer me 4.65%.. At this stage, I still think its reasonable la.. Is there any better rate I can get ? Pls share ya if there is any recommendation....
isnt 4.65% is on the high side? I asked rhb. for 600k, it's BR + 0.50% (without mrta)
i believe their BR is 4.00%
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Personally 2015 doesn't look like the year for me to making any Home purchases.
Just going to play safe this time around.
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I have heard from a lot of Property Agents that high end properties might come down in price.
In the high end property market (1 million and above), there are a lot of sellers (mostly speculators whom bought a ramshackle house in a prime area and did some simple renovations to resell a few months later) but no buyers. Yes, there are a bunch of property clubs flipping prime area properties by jazzing up old houses in hot areas and then resell with a 300% markup after the renovation was competed.
These properties have huge bank loan repayments and I forsee a lot of these dudes cannot service 10+ of these type of properties in their portfolio. And when bank lelong, that's when prices should come down.
If prices tumble in the high end market, the mid and lower range prices will fall too..
So, be patient. Good things come to those who waits.
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Can't get any new launch Shop-Office in KL for <4M anymore? Sunway Geo -----> 3-Storey Retail Shoplot @>6.8M! How do invest shoplot in KL?!
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Yes, 2015 is good to buy property. And also it is good to invest in stock market. As real estate and stock market are two of the fields where you can invest and can earn profit.
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I have heard from a lot of Property Agents that high end properties might come down in price.
In the high end property market (1 million and above), there are a lot of sellers (mostly speculators whom bought a ramshackle house in a prime area and did some simple renovations to resell a few months later) but no buyers. Yes, there are a bunch of property clubs flipping prime area properties by jazzing up old houses in hot areas and then resell with a 300% markup after the renovation was competed.
These properties have huge bank loan repayments and I forsee a lot of these dudes cannot service 10+ of these type of properties in their portfolio. And when bank lelong, that's when prices should come down.
If prices tumble in the high end market, the mid and lower range prices will fall too..
So, be patient. Good things come to those who waits.
why listen to Agent? what type of Agent? license? MLM one? GS or DF ? or big 5? listen to boss or the guy bring you to see houses? or their firm researcher who produce property market report?
why you belief high end market orice tumble, mid and lower rang prices will fall?
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Thanks god, the boss finally sounds his voice. Chris, any suggestion on the reasonable shoplot investment around KL, ~4M please?
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Thanks god, the boss finally sounds his voice. Chris, any suggestion on the reasonable shoplot investment around KL, ~4M please?
frankly, i didnt study actually, no Ms to invest into shoplot.
also because 4m shop lot in klang valley, what kind of return to expect? 4% annual return, rental will be 16k a mth
last week chit chat with a friend of mine, MS business development DGM said he is studying shoplot in Seremban
fyi - IOI selling rm1.5 m onwards for bdr putri bangi - bdr bkt mahkota.
bangi avenue boss keeping all their shop
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Thank you Chris. Been getting similar advise to invest in new launch project in Seremban & Bangi, rather than in KL, as ROI ~4% in KL!
Chris, knowing that you are a well informed expert in property line, what do you feel abt the theory to wait for secondary market to crash in KL over the coming 12 months+, in the hypothetical scenario of return of the 20 yrs recession cycle in Malaysia?
Alternatively, banging on MahSeng's project as its products are fairly reliable with reasonable capital gain?
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Thank you Chris. Been getting similar advise to invest in new launch project in Seremban & Bangi, rather than in KL, as ROI ~4% in KL!
Chris, knowing that you are a well informed expert in property line, what do you feel abt the theory to wait for secondary market to crash in KL over the coming 12 months+, in the hypothetical scenario of return of the 20 yrs recession cycle in Malaysia?
Alternatively, banging on MahSeng's project as its products are fairly reliable with reasonable capital gain?
Do you think a Toyota salesman will tell you not to buy a Camry now because 6 months from today it will be sold at half price?
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Welldone dp. Chris is more akin to the experienced Lexus Sales Manager, & will not misled a fellow comrade.
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I believe I've said this before and will say again.
Property prices are high because of speculators. Some like to call themselves investors but it's all still a gamble. You buy extra property hoping your money grows and you get tenants. Developers are constantly increasing prices because buyers will still buy. Lame excuses of rising land prices are just an excuse because most developers have already acquired a large land bank which they're only now developing.
Some might buy extra property just because there's nothing else to do with all the extra cash so the above may not apply to you and you probably won't be bothered if it's a good time to buy or not.
If you're buying to live in it, then any appreciation or depreciation will not affect you as you need a roof over your head.
At the end of the day, it's all speculation that causes incredible price increases.
Let's not even get into the possible problems we will encounter one day when the younger generation can no longer afford a home or even rent one....
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Really hope that there are more wise person like you, then the market won't became unreachable!
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Nothing wise here. Just trying to look at this issue in a realistic way..
A good read...
http://www.online-literature.com/tolstoy/2738/
http://www.telegraph.co.uk/culture/books/bookreviews/10620292/Owning-the-Earth-by-Andro-Linklater-review.html
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I know there are landed property still selling at below RM500K in U17, Shah Alam. For family to stay it is best to buy landed than high rise
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any1 bought any property this year? mind to share what, where and why?
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Pleasantly surprised to find that 2 - 4m shop offices still available from developer around Damansara area, but LH though.
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Thank you Chris. Been getting similar advise to invest in new launch project in Seremban & Bangi, rather than in KL, as ROI ~4% in KL!
Chris, knowing that you are a well informed expert in property line, what do you feel abt the theory to wait for secondary market to crash in KL over the coming 12 months+, in the hypothetical scenario of return of the 20 yrs recession cycle in Malaysia?
Alternatively, banging on MahSeng's project as its products are fairly reliable with reasonable capital gain?
Do you think a Toyota salesman will tell you not to buy a Camry now because 6 months from today it will be sold at half price?
1st - the growth corridor is towards south since 10 yrs ago... cheras kajang semenyih. now ppl paying rm700k++ for a terrace in Broga/Beranang launched by reputable developer.
personally, i will not go into this kind of project, its 35km from town, unless i buy for my own stay.
RM700k is not a small amount
2nd - demand vs supply. few area and some type of property sales already dropped. Just look at FB, when every1 is selling... ?
Iskandar area, cyberjaya area.... especially those high rise, soho, sofo, sovo.... is definitely bubble!
i am staying away from non sustainable development !
3rd - affordable housing, demand surely more than suply, question is in which area at what price?
Pr1ma is pushing for rm450k. MySelangorku RM240k. problem is i not eligible to buy !
so frankly, i am concentrating in my own project, i help my boss to plan project that sell houses for ppl to buy for own stay last 2 yrs.
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well, there is no worst or best time to purchase property as long as for own stay.
as for investment, it's still depends on what is your play. if purely flipping, the good old days is not here anymore.
so, for own stay, just follow ur own taste and affordability ( sound like recommended for watches purchase also.....)
for investment, get ready unit for rental play......
for purely speculation, finger crossed....
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Why is these new launch shoplots in Klang Valley so expensive, mostly are in excess of 6.8m? Even SW Velocity in cheapskate area was also in excess of 5m a few years ago! Its rather too crazy to invest that amount of $ as deposit, since invariably it'll draw unnecessary attention from the taxman. Yet properties beyond Klang Valley's capital appreciation will unlikely to be as desirable. Really have to conserve now for a few years, in order to deliver an effective blow in the subsales market when the bubbles burst!
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Speaking from own experience and only applicable to pj sec6 (jln changgai, near state) I've been able to source old bungalows on 10,000sqft land at below 2mil. This is when banks are able to give a valuation of at least 2.5mil. The catch is that these land are all leasehold with 40 years left. Therefore the banks expect you to renew the lease, thus loan margin is much lesser.
I feel these are the hidden gems and worthwhile investment due to the big margin that you can play with..... Provided the cash is there.
Regards
Tsw
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@Tsw, I am not keen on leasehold properties, but, thank you for you advise anyway. Do you mind share or pm the name & details on your latest completed project in Puchong please? Regards.
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Some months back, just went for Casa Green (now Residensi Hijauan) in Bukit Jalil. Decently priced (imo) for younger generation like me. All units are same size; 1,000sqft and at 450k, discounts based on floor. Opted for an extra (3rd carpark). Completion sometime in 2019.
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Some months back, just went for Casa Green (now Residensi Hijauan) in Bukit Jalil. Decently priced (imo) for younger generation like me. All units are same size; 1,000sqft and at 450k, discounts based on floor. Opted for an extra (3rd carpark). Completion sometime in 2019.
450psf in Bkt jalil sounds good
3 car parks is big big bonus
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Carpark was an additional 20k. For a high floor unit, after discount and inclusive of 3rd carpark, is still under RM450psf. This is next to Z Residence, facing highway as I was not able to get a unit facing inside. The only downside is that the booking fee is a whopping 10% which also makes it very tough for young buyers. I know I am broke now.
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10% for booking or down payment? Usually booking is around 1k, but regardless loan application only 90% so you'll need to fork out 10% cash.
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10% for booking; so some 40k upfront to sign booking papers. I think developer is trying to weed out investors and try to have more genuine buyers, although I don't know how effective was.
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Yeah. Hefty 10% as booking and then become dp if u get 90% loan. But now waiting list is 300 ppl. Means one buyer withdraw, 300 ppl waiting to take it up. For non bumi. Bumi lot still have if im not wrong.
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Funny I had the impression that the property sector was not as hot as it used to be. Maybe cos at 450psf it's still relatively accessible.
Couple years back condo in Ara Dsara already hit close to 800. Prices are getting crazier, can't imagine how someone can afford without having accumulated substantial savings.
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Yes. Not as hot. But 450 psf in decent area, will be selling fast anytime.
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according housing development act
10% downpayment is a fixed sum, any collection of booking below this is not legal !
over the years... many developer bang the rule smartly... and no buyer complaint when you get to pay less booking.
RM450 psf is it bargain price, beside location.... still hv to compare with spec given, density, environment...
but in that area, is definitely the affordable house in KL. soon the LRT extention is linking this area to Putra height connecting to Putra line
additional covered car park at RM20k is very very reasonable
how ever have you compare it with Z residence?
price per sf
amenities
access road
time cost - ready to move in
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Thank you, Chris, your thread is so resourceful.
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Thanks for the insights, Chris. Below are some of the factors which I considered:
1. Price per sf - cheaper than Z Residence; new and subsale. I believe CG is currently the cheapest in the area; but then I didn't do an extensive research.
2. Amenities - to be honest this is not a very important item for me (although may be different for other buyers). They do seem to have the usual list of amenities including pool (no gym, but a basketball court is listed), but others like convenience store, laundry service etc is very low on my list of priorities; I'm ok if it comes without. Security is two tier.
3. Access road - at this point in time, afaik, is same as Z. When the road opens up that goes through Rainz, will be applicable for CG as well. The other access road that is parallel with LRT track, going through to KM1, has been proposed but I do not know if it will or has been approved yet. Without this, I believe the area will be heavily congested; area is getting very saturated. I am assuming this new road will materialize.
4. Time cost - develop says completion in 2019. I'm not 100% firm on moving in at this point in time. Was looking for something to move in within the next 12-18 months and stumbled upon CG. If I stick to my initial plan and move in to my own prop in given timeline, I may consider my first home which is currently tenanted out. CG is honestly an investment-cum-own stay possibility.
5. Density - 3 blocks (A, B, C); Block A is Rumah Mampu Milik (825 sqft, 490 units) and Block B + C (1,003 sqft, 490 units) totaling 980 units. That's quite high density, in an already highly saturated area. BUT- I am willing to accept this considering price factor.
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Thanks for the insights, Chris. Below are some of the factors which I considered:
cheers
1. Price per sf - cheaper than Z Residence; new and subsale. I believe CG is currently the cheapest in the area; but then I didn't do an extensive research.
privce vs spec ( what u get, density and some factor below )
2. Amenities - to be honest this is not a very important item for me (although may be different for other buyers). They do seem to have the usual list of amenities including pool (no gym, but a basketball court is listed), but others like convenience store, laundry service etc is very low on my list of priorities; I'm ok if it comes without. Security is two tier.
also look at details
- swimming pool can be 50m length with 8 lane vs small lap pool
- density also to be considered
3. Access road - at this point in time, afaik, is same as Z. When the road opens up that goes through Rainz, will be applicable for CG as well. The other access road that is parallel with LRT track, going through to KM1, has been proposed but I do not know if it will or has been approved yet. Without this, I believe the area will be heavily congested; area is getting very saturated. I am assuming this new road will materialize.
4. Time cost - develop says completion in 2019. I'm not 100% firm on moving in at this point in time. Was looking for something to move in within the next 12-18 months and stumbled upon CG. If I stick to my initial plan and move in to my own prop in given timeline, I may consider my first home which is currently tenanted out. CG is honestly an investment-cum-own stay possibility.
time = risk.... market change and whether you will get it, there are projects abandoned before, or developer lower spec when time is bad and sales is poor
5. Density - 3 blocks (A, B, C); Block A is Rumah Mampu Milik (825 sqft, 490 units) and Block B + C (1,003 sqft, 490 units) totaling 980 units. That's quite high density, in an already highly saturated area. BUT- I am willing to accept this considering price factor.
so all in all.... its choice, talking to me too often wont be good. consider too many factor might lost chance !
lol
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Hahah! :police:
Chris, to be honest, this was almost an impulse buy for me. Chanced upon the project, went to have a look on Saturday, did some read up over the weekend, and proceeded to pay 10% by Tuesday.
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Hahah! :police:
Chris, to be honest, this was almost an impulse buy for me. Chanced upon the project, went to have a look on Saturday, did some read up over the weekend, and proceeded to pay 10% by Tuesday.
buying a house for own stay in the location you wanted...
it wont be wrong ....
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just noticed this property thread ;)
kinda slow this year... but noticed lot of development along OKR and UOA finally slowed down on its lauching...
a bit different from last year's BBB mode, mostly are on wait-and-see mode...
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Developer's sale or subsale by GST regd vendor of non-residential properties is rather slow since Apr this year.
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Overall feels the market has slowed down; with more advertisements by developers and more aggressive approach by agents. It seems to buyers' market, not like last year
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Property in the southern corridor of Klang Valley got chance, the rest are stagnating or even dipping slightly. From OKR down to OUG, Bukit Jalil and Seri Kembangan. The MRT line 2 is going south due to the realignment. Along with Bandar Malaysia & Singapore-Malaysia High Speed Rail which will shift development southward.
PJ, MK, Desa Park City and KL are generally safe buys, but currently fairly valued to overpriced. 1k psf for new launches in PJ is nuts. Southern Klang Valley is a much better buy at 400-600 psf.
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On OKR alone, there are many new projects ongoing there..afraid will cause more traffic jam to this area. For Bukit Jalil and OUG area, there are also several new projects especially along Kesas highway. Understand there are 2 malls coming up there - Pavillion 2 and Paradigm 2
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Property market is softer lately. With the ringgit falling ...property is the best form of investment
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I think the market quite saturated. So many new developments around and not sure if can be absorbed by buyers, particularly high end property.
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Not really a good year to buy, usually the best year to buy a property was during financial crisis. I.e. year 2008
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And avoid below market value property selling at north of kl... Gomen planning to build an incineration plant over there...
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What do you guys think about The Reach at Titiwangsa/Setapak?
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I always think, if buy for own stay, there is nothing to worry about property bubble, since no matter the house price big drop or big up, nothing related to you.
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And avoid below market value property selling at north of kl... Gomen planning to build an incineration plant over there...
where?
last time said in beranang
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Should hold the cash and i think starting next year will be having bargain sale on properties. Even rent market is slowed for retails shop
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rent is slow down at this moment as well.
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Property always can be good buy. However , loan hard to approved nowadays
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No.. No and I disagree that
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probably not for the next year