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Thread: Living in JB 2 (Johore)

  1. #6201
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    Default Re: Living in JB 2 (Johore)

    Hmm....complimenting Sg HDB... :-)

    "To ensure a smooth transition, Malaysia could learn from Singapore's experience which increased its population from 4.0 million to 5.2 million in 2011 in just a decade."

    "For instance, Malaysia could consult the Singapore Housing Board and policy makers on how they have attempted to plan for the increase in expatriate population."



    Saturday May 5, 2012

    Priming, pricing KL property for future
    http://biz.thestar.com.my/news/story...9&sec=business

    COMMENT
    By KUMAR THARMALINGAM





    THE debate on the RM1mil price tag for foreign buyers is only relevant in the capital city of Kuala Lumpur and some of the more affluent Selangor neighbourhoods, parts of Penang and small parts of Iskandar. The rest of the country is pretty much stuck in the RM300,000 RM600,000 category.

    The current unhappiness expressed by Malaysian house buyers however, are not those in the lower income bracket as there is an overhang of property in the lower price range. It has to do with the middle-income earners who would like to buy a house in a good location for less than RM1mil. The availability of prime residential land within KL is declining very rapidly and there has been an increase in conversion from residential to commercial. As KL becomes more commercially vibrant, this trend will continue. As a consequence, the price of land within the central part of KL is rising. Land owners are acutely aware of this and are profiting from the few available pieces of land in the city as developers bid for these scarce resources.

    In the case of Johor, foreign property owners are mainly from Singapore. This is no surprise since the largest diaspora of Malaysians are Singaporeans. Given the proximity, close investments and business ties Malaysia has with Singapore, Singaporeans are the biggest real estate investors in Malaysia and vice versa.

    On top of the rising cost of land, construction material and labour costs have been rising. Building material cost in KL increased by +50% since 2002. Developers try to sustain profit margins by raising prices of new launches and testing new grounds for affordability. Should demand be weak, new launches will be re-priced to ensure take-up. Very often, incomplete sales of high-end condominiums which are the less desirable to locals in terms of feng shui, etc are being marketed to foreigners. To raise the value of their projects, developers also add in features to make the development more eco-friendly.



    More city housing

    Greater KL is embarking on a path to increase its population from 6 million to 10 million by 2020. To ensure a smooth transition, Malaysia could learn from Singapore's experience which increased its population from 4.0 million to 5.2 million in 2011 in just a decade. One of the solutions that Singapore sought was to provide high density mass housing that replicates American skyscraper development. Built at densities of 6000 or more persons per sq km, a growing number of new public housing stock is more than 12 storeys. Under directions of upgrading and density intensification, old low-rise blocks in mature public housing estates are being demolished to make way for new taller developments. The latter ranging from 25 to 50 storeys is developed at higher plot ratios.

    Approximately 85% of Singapore's 3.4 million resident population has moved to reside in public housing. While there are fears that high density housing reduces privacy in Singapore, this social loss is balanced with high levels of security that is easier to implement in dense cities, which has a higher-skilled workforce and an educated public that contributes actively to crime prevention. Also, point blocks release more land at ground level for gardens and Singapore has a zero car park policy.

    What will the impact of a RM1mil limit on foreigners be?

    n It could curb rising house prices that are targeted at foreigners but may not curb the demand from locals. In addition, there are unintended consequences on the business climate if foreign-investor sentiment is affected by random changes in policies.

    n Whether it will push developers to sell prices below RM1mil will depend on the cost of their land purchase, the plot ratio, construction and labour costs.

    n Those assets that are selling at slightly below RM1mil may rebrand themselves, above RM1mil to say that they are now targeting the foreign market.



    Long-term solutions

    Before implementing any drastic changes to curb foreign investment purchases, it is important to ascertain the contributory factors leading to price increases in KL. Malaysia can learn lessons from policy makers in other cities that have successfully grappled with rising city migrants within a short duration. For instance, Malaysia could consult the Singapore Housing Board and policy makers on how they have attempted to plan for the increase in expatriate population. With the proposed solutions, a public-private dialogue can be set up between developers, state housing agencies, Invest KL, Talent Corp, consumer bodies, both local and foreign, to look for long lasting solutions.

    The dialogue should lead to a shared solution, which ensures future supply of mid-priced condominiums in the city. For instance, through a consultative approach, the government can give a higher plot ratio to help increase the margin of the developers and make it worth their while to target domestic buyers in the land-scarce city.

    Striking a balance

    At the same time, the Government can allow developers who have contributed to building mid-range products in the city to sustain their business operations by allowing the liberalisation of foreign ownership in the city ie have no Bumiputra content and no limitation on the sale of units to foreigners. Developers could then target entire projects in the city for foreign direct investment (FDI) and not exclude locals from paying the premium price for the asset. In other words, a 2-part structure like Singapore and Hong Kong.

    To continue to attract FDI, which is critical for job-creation within KL, Malaysia can adopt the Dubai model, a very simple but effective model. Anyone can open an office in Dubai or buy a Dubai asset. Within a set boundary, work permits are given on demand and business registrations are on a one-day basis. You have to have your office in a designated area but you can live anywhere in Dubai.

    What if we designated the Federal Territory of KL as a liberal international property investment zone. We can carve out parts that cannot be touched for FDI like Kampung Bahru. The opening of an Investment Zone could be similar to KLIFD, which is still a decade away from fruition. It should be for the whole of KL City Centre say a 10 km radius from KLCC as most of KL is in private sector hands.

    It will certainly give a boost to our Invest KL and Talent Corp as Malaysia is walking the talk and is inclusive of everybody in the city of KL. It fits in with the 1Malaysia plan, liberalising KL to form an Asean Financial Centre.

    More developed nations and some of the middle-income countries have been able to balance between development and using FDI to make better options for their people.

    There are several possible ways of making housing more affordable. However, it is important to examine the consequences of taking such action. For instance, a house price control in the city may stop developers from building within the city. Other alternatives to explore could include, a housing trust that can be set up to acquire a land parcel through purchase, foreclosure, or donation. The trust arranges for a housing unit to be built on the parcel, then sells the building but retains ownership of the land beneath. The new homeowner leases the land for a nominal sum, generally for 99 years or until the house is resold.

    This model keeps housing affordable for future buyers by controlling the resale price of houses on Community Land Trust (CLT) through a ground lease and resale formula. The CLT keeps the property affordable in perpetuity by restricting the profit buyers are able to take when they sell the house.



    Liberal city policies

    Up to March this year, Malaysian pension funds have spent US$2.4bil purchasing London property assets. That's RM7.3bil. Was there are any concern from the British press? Or the government? Actually they welcomed sovereign wealth funds coming into the country as they are seen to be passive investors. Why have western sovereign funds not bought passive assets in Malaysia? What has London got that we don't have. The answer stares at us in our face. It's a total lack of government control on who buys what in London. They understand that you can't take the buildings away. So they can happily enjoy the taxes they get from the funds.

    Canary Wharf which is London's newest financial district has 100 countries fighting to have a share of it everyday. The UK government does not interfere in property transactions. Only collects the taxes and fees that comes with it. London has seen waves of investment from the 70s with the Japanese, Korean, Arab, Russian and now the Asian wave. The city is open to all investors and builders. It is now an international city.

    The people of London have seen their salaries and fortunes grow as they participate and learn from the legions of investors that have occupied London over the past few decades. There is recession in UK but not in London.

    We need to make Kuala Lumpur the city of choice to live, work and grow for Asean investors.

    Kumar Tharmalingam is the CEO of MPI. MPI is a public-private initiative set up by the EPU to promote and facilitate foreign investment in Malaysian real estate. MPI raises Malaysia's profile in the international investment radar through constantly updating foreign investors on Malaysia and real estate information.
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  2. #6202
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by nitecrawllerr View Post
    Bro Wuqi, tom I may drop by around Bt Indah area. Do a couple of house searching. Any decent hotels nearby Jusco Bt Indah? Just to put up 1 night stay.

    Thanks.
    Pariss hotel or Eurorich hotel are ok.
    My relatives are now doing more house hunting as well
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by wuqi256 View Post
    Pariss hotel or Eurorich hotel are ok.
    My relatives are now doing more house hunting as well
    Juz saw an expo at JB Persada, mainly selling and promoting JB properties. Anyone been there?

    Wuqi>>maybe you can organize a 1 day trip for like-minded people who want to go house hunting together?
    Can meet like 8am for breakfast in JB, then depend on which property first...maybe 1 day can hunt 4-6 area?
    Finally over dinner, can have a fruitful discussion on what being viewed during the day.
    “You only live once, but if you do it right, once is enough.”
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  4. #6204
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    Default Re: Living in JB 2 (Johore)

    Passed by Sutera Mall Beijing Restaurant and there was a wedding dinner reception going on, saw the guests having big palm sized oysters as starters. Wow so luxurious, I attended many wedding dinners before including 5 star hotel ones and never see oysters being served as part of wedding dinner!
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by Diaspora View Post

    "Liberal city policies

    Up to March this year, Malaysian pension funds have spent US$2.4bil purchasing London property assets. That's RM7.3bil. Was there are any concern from the British press? Or the government? Actually they welcomed sovereign wealth funds coming into the country as they are seen to be passive investors. Why have western sovereign funds not bought passive assets in Malaysia? What has London got that we don't have. The answer stares at us in our face. It's a total lack of government control on who buys what in London. They understand that you can't take the buildings away. So they can happily enjoy the taxes they get from the funds.

    Canary Wharf which is London's newest financial district has 100 countries fighting to have a share of it everyday. The UK government does not interfere in property transactions. Only collects the taxes and fees that comes with it. London has seen waves of investment from the 70s with the Japanese, Korean, Arab, Russian and now the Asian wave. The city is open to all investors and builders. It is now an international city.

    The people of London have seen their salaries and fortunes grow as they participate and learn from the legions of investors that have occupied London over the past few decades. There is recession in UK but not in London.

    We need to make Kuala Lumpur the city of choice to live, work and grow for Asean investors.

    Kumar Tharmalingam is the CEO of MPI. MPI is a public-private initiative set up by the EPU to promote and facilitate foreign investment in Malaysian real estate. MPI raises Malaysia's profile in the international investment radar through constantly updating foreign investors on Malaysia and real estate information.
    Malaysia EPF is so transparent, at least tell people they invest in London properties (such a smart move compared to SG money losing stock investments). Only CPF no need to tell people what they invest in...
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  6. #6206
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by silvia View Post
    Juz saw an expo at JB Persada, mainly selling and promoting JB properties. Anyone been there?

    Wuqi>>maybe you can organize a 1 day trip for like-minded people who want to go house hunting together?
    Can meet like 8am for breakfast in JB, then depend on which property first...maybe 1 day can hunt 4-6 area?
    Finally over dinner, can have a fruitful discussion on what being viewed during the day.
    Hello

    Wuqi is not a property agent , your suggestion is unfair for him
    We can view it individually n discuss over in e forum.
    If wuqi have time , I would rather he spend quality time with his own family.
    Last edited by crystal_tiong; 05-05-2012 at 02:41 PM.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by arsenal View Post
    Nice.. But I missed the lightning shows.. Natural lightning without have to pay anything..

    Just planted my second fruit tree by myself.. The nursery is selling Mao Shan Wang tree too.. Shall I plant it near the fence for anyone to enjoy in future?
    Hi Arsenal, probably advisable to plant it away from the house as well as any concrete areas as roots of durian trees go deep and spread far and wide. May damage the building so always put it far away. There are lots of durian trees at gelang patah area. One time, brought a learned local friend who has spent at least 50 years in Johore and even he was unaware of the sheer numbers of durian trees there.
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  8. #6208
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by wuqi256 View Post
    Pariss hotel or Eurorich hotel are ok.
    My relatives are now doing more house hunting as well
    Thanks bro. Looks like everyone is rushing to buy before the new threashold take effects.
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    Default Re: Living in JB 2 (Johore)

    Crystal is really a woman of substance.. Frank and speak up for friend..

    One can easily approach some agents to bring them around and then discuss here in the forum.. Most of us ae willing to help.. A hard working agent will be more than willing to be friend the buyers and bring them around.. 1% each from buyers and sellers is really attractive. How many workers in johor can make this kind of money?



    Quote Originally Posted by crystal_tiong View Post
    Hello

    Wuqi is not a property agent , your suggestion is unfair for him
    We can view it individually n discuss over in e forum.
    If wuqi have time , I would rather he spend quality time with his own family.
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  10. #6210
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by crystal_tiong View Post
    Hello

    Wuqi is not a property agent , your suggestion is unfair for him
    We can view it individually n discuss over in e forum.
    If wuqi have time , I would rather he spend quality time with his own family.
    Thanks a lot for your understanding. Having so many requests for legal matters, meet up, helping others to convince wife/parents/son, assessment of various properties, it takes the wind out of me at times especially some of the PMs are a bit depressing or when its not serious questions. Most of the time, 90% of the questions are already clearly answered in the new sub topics, just that some are too busy to even read up or even read the newbie thread.

    Where its legal related, i am not a legal expert so best to have legal questions asked in the legal thread but best through your lawyer since they are paid to help you in the first place.

    Wife is actually already complaining abit especially as she is pregnant. Went with my relatives today to see The Hills as they wanted to buy the greens, the 24x75 unit they were looking at is about 717k MYR and the one i brought them to, The Hills is 815,800 MYR i believe. Pretty nice and gave them my 2 cents as i felt the unit worth buying and great for own stay.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by arsenal View Post
    Crystal is really a woman of substance.. Frank and speak up for friend..

    One can easily approach some agents to bring them around and then discuss here in the forum.. Most of us ae willing to help.. A hard working agent will be more than willing to be friend the buyers and bring them around.. 1% each from buyers and sellers is really attractive. How many workers in johor can make this kind of money?
    Really appreciate a friend like that, no many true friends these days. Friends have actually suggested that before but then someone will in the end think that the organiser of such an event will take a cut, etc or the guy has ulterior motives to help so in the end, best to leave house hunting to individual. This is unless one wants to go in consortium style to demand for better pricing, etc.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by nitecrawllerr View Post
    Thanks bro. Looks like everyone is rushing to buy before the new threashold take effects.
    My friends noticed i have a gift for spotting gaps just before they are closed so now are get a lot of questions especially recently. Seems quite a few guys are keen these days.
    Last edited by wuqi256; 05-05-2012 at 03:37 PM.
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    Default Re: Living in JB 2 (Johore)

    Forgot all about son's birthday today as i went out with my relatives until the evening and had a surprise unscheduled visit to a friends place, wife was a bit unhappy but luckily managed to smooth things out.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by wuqi256 View Post
    Just sharing for Nusa Duta, these are the new prices:
    - By the way, they have 30/70 rule for foreigners versus locals

    Cluster - 34 x 80
    878,000 - 1,144,000

    Semi-D - 50 x 75
    1181000 - 1,525000
    So they finally launched!
    Prices seem to be higher than expected!

    The prices are almost on par to what one would pay for Horizon Hills.

    A better deal if they are covering stamp duty and legal fees.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by ginfreely View Post
    Passed by Sutera Mall Beijing Restaurant and there was a wedding dinner reception going on, saw the guests having big palm sized oysters as starters. Wow so luxurious, I attended many wedding dinners before including 5 star hotel ones and never see oysters being served as part of wedding dinner!
    Actually that was one of my fav restaurants, nice roast pork and the fried rice (with crab, etc) in champagne glass was interesting.
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    Default Re: Living in JB 2 (Johore)

    Happy Birthday, Wuqi Junior!!!
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by Funds Transfer View Post
    So they finally launched!
    Prices seem to be higher than expected!

    The prices are almost on par to what one would pay for Horizon Hills.

    A better deal if they are covering stamp duty and legal fees.
    Pretty high but i think market is keen right now, ND is expected to sell well.
    Even a place like Nusa Heights (Mahabuilders) is doing pretty well now.

    A bro just called me out for dinner to discuss property here but really don't
    have time at least for now. Just did a quick call and referred him to this forum.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by Funds Transfer View Post
    Happy Birthday, Wuqi Junior!!!
    Thank you sir, he is sleeping soundly now, its his Chinese birthday (lunar calender) so wife let me off the hook.
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    Default Re: Living in JB 2 (Johore)

    Quote Originally Posted by wuqi256 View Post
    Wife is actually already complaining abit especially as she is pregnant. Went with my relatives today to see The Hills as they wanted to buy the greens, the 24x75 unit they were looking at is about 717k MYR and the one i brought them to, The Hills is 815,800 MYR i believe. Pretty nice and gave them my 2 cents as i felt the unit worth buying and great for own stay.
    Bro, the above units are intermediate terrace or cluster homes?
    Last edited by nitecrawllerr; 05-05-2012 at 04:43 PM.
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    Default Re: Living in JB 2 (Johore)

    They are terraces/link houses.
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