It is strange that you get so upset by this news. Initially you are complaining the Town Council not doing their enforcement work. Now, Town Council finally carry out their enforcement duty and yet you still complaining. This only prove that you have supported the developer blindly all this while. Please spare some thought to the flood victims. With this instruction from MBJB, developer have to work closely with the authorities to construct a retention pond soonest possible before the next rain season. If the developer is a trustworthy one, they should honour what they have agreed in the meeting. Lets wait and see their reaction. Will update this soon......
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Property News
- Thread starter FHBH12
- Start date
It is strange that you get so upset by this news. Initially you are complaining the Town Council not doing their enforcement work. Now, Town Council finally carry out their enforcement duty and yet you still complaining. This only prove that you have supported the developer blindly all this while. Please spare some thought to the flood victims. With this instruction from MBJB, developer have to work closely with the authorities to construct a retention pond soonest possible before the next rain season. If the developer is a trustworthy one, they should honour what they have agreed in the meeting. Lets wait and see their reaction. Will update this soon......
Can you read or not?
I kept saying again and again that the developer SHOULD BE SUED if they were found to be in the wrong!
There's more than one way to skin a cat....
Don't always think of buying in Malaysia, must also consider renting as the choices are increasing everyday.
If really wanted to buy, buy from a trustworthy developer.
http://www.orientaldaily.com.my/nation/gn201442026
（新山7日讯）政府近年推行的各项打房措施，虽然有效遏制炒楼现象，然而却让原本看准外国投资者的公寓发展项目，面临供过于求的现象，导致公寓价格下调15％至20％。
政府为了抑制產业市场过热及避免投机活动，先后调高了產业盈利税及提高外国人购屋门槛等。有关措施实行后，柔南產业市场交易確实已开始放缓，然而却也让发展商担心，许多预计在2016年建竣的公寓项目会出现过剩的情况。
道森產业仲介行仲介师刘道森接受《东方日报》访问时指出，由于市场信心冷淡，整个產业市场在这两年都已开始放缓，发展商唯有在这时候推出各种回扣配套，刺激市场的购买力，有些豪华公寓单位，价格已从原本的100万令吉，跌至80万令吉。
產业买气低迷
「无论是购屋自住抑或投资者，目前都抱持著观望的態度，大家都在等待屋价更进一步下跌。马劳则是等待令吉兑新元的兑换率更高时，才选择重新进场，这些因素都使產业市场买气越来越低迷。」
他透露，政府的打房政策，確实影响了外国投资者的购买力。此外，他分析，这將使得原本锁定外国投资者的一些公寓项目发展商，由于担心出现过剩情况，或將把目標转移至本地购屋者身上，同时將公寓价格下调15％至20％。
五福城市署理总经理许木兴受询时指出，现在的房產市场放缓的现象有很多因素，除了政府实施的紧缩政策外，公寓的兴建数量不断攀高，也是导致房屋市场放缓的因素。
有地住宅需求大
「柔南一带的住户对有地住宅的需求量远超过对于公寓的需求，但近年来的发展商却倾向于兴建公寓大楼，使得房產市场开始放缓。」
他续说，目前有地房產的价格未有太大影响，但是公寓的价格相信在2016年开始会明显下跌，因为届时许多公寓项目已建竣，供过于求的现象会更加明显。
经济学家白文春指出，政府的打房政策已开始奏效，纵观房產价格在2013年时上涨了12％。但在2014年已开始放缓并下降了7％，今年下半年房產价格也开始持续放缓，情况可能会延续到2016年。
他也说，目前有地房產的价格还是相对稳定的，然而公寓有可能面对销售与出租都无人问津的情况，因此价格相信会有所调整。
（新山7日讯）政府近年推行的各项打房措施，虽然有效遏制炒楼现象，然而却让原本看准外国投资者的公寓发展项目，面临供过于求的现象，导致公寓价格下调15％至20％。
政府为了抑制產业市场过热及避免投机活动，先后调高了產业盈利税及提高外国人购屋门槛等。有关措施实行后，柔南產业市场交易確实已开始放缓，然而却也让发展商担心，许多预计在2016年建竣的公寓项目会出现过剩的情况。
道森產业仲介行仲介师刘道森接受《东方日报》访问时指出，由于市场信心冷淡，整个產业市场在这两年都已开始放缓，发展商唯有在这时候推出各种回扣配套，刺激市场的购买力，有些豪华公寓单位，价格已从原本的100万令吉，跌至80万令吉。
產业买气低迷
「无论是购屋自住抑或投资者，目前都抱持著观望的態度，大家都在等待屋价更进一步下跌。马劳则是等待令吉兑新元的兑换率更高时，才选择重新进场，这些因素都使產业市场买气越来越低迷。」
他透露，政府的打房政策，確实影响了外国投资者的购买力。此外，他分析，这將使得原本锁定外国投资者的一些公寓项目发展商，由于担心出现过剩情况，或將把目標转移至本地购屋者身上，同时將公寓价格下调15％至20％。
五福城市署理总经理许木兴受询时指出，现在的房產市场放缓的现象有很多因素，除了政府实施的紧缩政策外，公寓的兴建数量不断攀高，也是导致房屋市场放缓的因素。
有地住宅需求大
「柔南一带的住户对有地住宅的需求量远超过对于公寓的需求，但近年来的发展商却倾向于兴建公寓大楼，使得房產市场开始放缓。」
他续说，目前有地房產的价格未有太大影响，但是公寓的价格相信在2016年开始会明显下跌，因为届时许多公寓项目已建竣，供过于求的现象会更加明显。
经济学家白文春指出，政府的打房政策已开始奏效，纵观房產价格在2013年时上涨了12％。但在2014年已开始放缓并下降了7％，今年下半年房產价格也开始持续放缓，情况可能会延续到2016年。
他也说，目前有地房產的价格还是相对稳定的，然而公寓有可能面对销售与出租都无人问津的情况，因此价格相信会有所调整。
I guess they are referring to Southern Marina which is selling @ RM 1000psf on less compared to market standard of RM 1200-RM 1300psf opposite their.
But still its wiser to compare apple to apple. The finishing, exterior and view of both condos are quite different.
It is already as cheap as it can get, any cheaper the condo will become a low quality development, the quality will be like a low cost housing you see around some old JB town. Hopefully it's not a race to the bottom...
I saw southern marina.
I must say I was pretty impressed with it.
For the price, the furnishing and the layout was unbeatable.
Very nice. I would even say it's comparable to Singapore standards. Kitchen is fully equipped including fridge.toilet fittings are Hans Grohe.
I must say Robert Kuok is not pulling back his punches
Especially for the price that they're asking for it
I must say I was pretty impressed with it.
For the price, the furnishing and the layout was unbeatable.
Very nice. I would even say it's comparable to Singapore standards. Kitchen is fully equipped including fridge.toilet fittings are Hans Grohe.
I must say Robert Kuok is not pulling back his punches
Especially for the price that they're asking for it
Robert Kwok and co did a great job indeed. Those buyers of SMR immediately are sitting on nice profits with RM 900psf type of prices and superior marina and sea views ( S$321 psf ) when Imperia and the rest will be transacted @ RM 1100psf on average
The same quality ( 99 year abeit ) will be S$3210psf in Singapore.
Kong Hee and his "co-owner" of the Penthouse condo in Sentosa Cove ( S$10 million ) must be shooting themselves now.
You really cant get it cheaper and anymore value for money anywhere. This is a great steal considering the fact that the location is the top 3 in PH itself
RED ALERT.....RED ALERT!! Suasana Iskandar Condo project are in deep trouble. The value of this property going down hill with this recent event at Jln Segget JB.
-------------------------------------------------------
A glimpse of "Little Venice" in JB city (31 July 2015).
-------------------------------------------------------
A glimpse of "Little Venice" in JB city (31 July 2015).
How come like that? Is that komtar on the right of the photo?
Flood due to heavy rain. Yes, is komtar or should i say JBCC and City Square on the right of the photo.Will you ever buy a condo near this place?? Must be heartache for Suasana investors......
Worldwide weather has changed so can expect repeat of trouble.
Malaysia Property Flipping and its Ugly Effect
Posted by: Vanitha Nadaraj June 24, 2015 in Business, Economics, Featured, Malaysia
It was the lure of fast and easy money, lots of it, that made James Lam jump at the chance to be a Malaysia property speculator or property flipping. That was two years ago and he immediately signed up for a series of training when his friend told him about it. The thought of buying properties and selling them quick for a good profit excited him.
“I was greedy,” says the 53-year-old who is in the top management of a multinational company. He already has a well-paying job, but the opportunity was too good to resist. In the Malaysia property speculation training, he was taught how to look for good bargains in the secondary residential property and different ways of beating the system. “I managed to sell a couple of houses and made a decent amount of money,” Mr Lam tells The Establishment Post.
One way of beating the system is to secure loans for several properties from as many banks all at the same time. If done all at once, the banks will also do the checks all at once and find that he is creditworthy. In 2010, the central bank Bank Negara Malaysia introduced pre-emptive measures to limit the number of outstanding housing loans so as to cool the Malaysia property market. Once Mr Lam gets the bank loans, he has to make sure he sells the properties quickly and at a higher price before the loan repayment commences. He has a small window period of a few months to get this done.
But this did not happen for the two properties in a prime area in Kuala Lumpur that he now has. “I cannot get a buyer. Not even a tenant (to rent). I have to start paying the banks for the loans with my own money.” He also realises that the property market is slowing down and his chances of selling these properties off is getting slimmer by the day. With Real Property Gains Tax made steeper in 2014 at 30 per cent for properties sold within three years, he would need to have a huge profit margin to offset the tax.
The mighty flippers may flop
Situations like this are nothing new to Siva Shanker. He has seen loads of such cases and he does not see a rosy end to this tale. His 34 years of experience as a real estate agent tells him that Mr Lam will either start cutting down his expenses so he has spare money to service the banks loans until a buyer comes along. “Or he will start borrowing from relatives or, worst still, from loan sharks.”
“A sharp rise in value (of properties) creates the flipping culture,” says Siva Shanker
The number of property speculators, or flippers, caught between a rock and a hard place are likely to increase as the market slows, says the chief executive officer of the Agency of PPC International Sdn Bhd. PPC International is a 24-year-old company that handles a wide range of services from valuation to estate agency, property management, research and consultancy.
“A sharp rise in value (of properties) creates the flipping culture,” he tells The Establishment Post. “In 2010, 2011 and 2012, thousands of properties were sold to flippers. These are people who neither need the property nor can afford to buy it. They buy it purely on speculation,” adds Mr Shanker, the immediate past president of the Malaysian Institute of Estate Agents.
Getting the DIBS on Malaysia Property Flipping
One of the reasons for a huge rise in flippers is the Developer Interest-Bearing Scheme (Dibs) where a house buyer need not pay down payment upon signing of the sale and purchase agreement. The developer will also bear the other expenses like stamp duty, legal fees and also interest on finance during the project construction period until the handing over of the keys. This is when the buyer will have to come up with the remaining payment. In essence, the buyer only pays for 90 per cent of the property value. In Malaysia, down payment for properties is at 10 per cent.
It may appear to be a win-win situation for all. The buyer thinks he is paying less for a property, and the developer has a marketing tool to sell properties quick. But speculators do not realise is that the value of properties sold under Dibs are actually marked up. This artificially hikes the property value and has caused the property market to rise unnaturally. Dibs was scrapped in Malaysia Budget 2014. Bank Negara was forced to take this measure when household debt soared to 86.8 percent of gross domestic product in 2013.Property Transactions in Malaysia
But the worst is not over. The effect of Malaysia property flipping is going to hit the property market in a bad way, according to Mr Shanker. “We will see a new category in property transactions – properties from flippers.” Presently, all property transactions involve the primary market, which are the newly built units, and the secondary market, which are the houses built and bought long ago that have now been sold.
He feels this category of property transactions will constitute a sizeable “5 to 10 per cent of new stock”. Flippers may be forced to sell their properties at much reduced, or even lower than the purchase price, so not to be saddled with a property they cannot afford to hold. So when a Residential property transactions in Malaysiasizeable number of properties are made available in the market at much reduced prices, it is not going to be pretty for property investors and owners.
Iskandar under flipper attack
When talking about the economic region in the southern state of Johor, Iskandar Malaysia, Mr Shanker says that Iskandar is a case of a great development project that is overbuilt in one sector, namely housing. “Everything else is still blue chip.”
He says Iskandar has everything working for it: a state government that is committed towards supporting this region by building good infrastructure; supporting industries and incentives for businesses to start and develop; supported by world-class health and education sectors. It is all that Singapore would need to accommodate its growth.
“But the idea got hijacked. Flippers rushed in and one sector is grossly overbuilt. We should give Iskandar a chance to grow,” he adds.
Elsewhere, property flipping is losing its appeal
Property flipping is fast becoming a thing of the past in the West. “China, Singapore, Malaysia, Hong Kong are now where the West have been and gone through,” Vijay Manavalan, a property negotiator in Malaysia involved in promoting properties in UK for investment.
“To get value out of property investment, it is best to get slow income, and not flip. There will not be many more markets around the world to flip. Investors need to look at the rental income that can be generated,” he tells The Establishment Post.
He says that many Malaysians and Singaporeans are starting to see the wisdom in this and are buying properties in the provinces in the United Kingdom. Generally, in places where they had done their tertiary education like Birmingham and Brighton.
“A property in London is like a trophy asset, not purely investment but trophy-led. Yields from rental are not as high as the yields in provinces outside London,” he says. “London experienced the flipping from 2001-2014. Cooling measures have been put in place last year. We’re not predicting too much growth in London.”
With a combination of government measures and diminishing opportunities, Malaysia property flipping may just be a thing of the past and Malaysian property market can be allowed to grow naturally and at a steady pace.
Read more: Malaysia Property flipping and its ugly effect http://www.establishmentpost.com/malaysia-property-flipping-ugly-effect/#ixzz3hnPB1vyN
Thank you for reading The Establishment Post. Permission to reproduce material under the "fair use" principle is granted PROVIDED a link to the original source material is included with the cited material. The Establishment Post maintains © ownership on
Follow us: @EstabPost on Twitter | TheEstablishmentPost on Facebook
Posted by: Vanitha Nadaraj June 24, 2015 in Business, Economics, Featured, Malaysia
It was the lure of fast and easy money, lots of it, that made James Lam jump at the chance to be a Malaysia property speculator or property flipping. That was two years ago and he immediately signed up for a series of training when his friend told him about it. The thought of buying properties and selling them quick for a good profit excited him.
“I was greedy,” says the 53-year-old who is in the top management of a multinational company. He already has a well-paying job, but the opportunity was too good to resist. In the Malaysia property speculation training, he was taught how to look for good bargains in the secondary residential property and different ways of beating the system. “I managed to sell a couple of houses and made a decent amount of money,” Mr Lam tells The Establishment Post.
One way of beating the system is to secure loans for several properties from as many banks all at the same time. If done all at once, the banks will also do the checks all at once and find that he is creditworthy. In 2010, the central bank Bank Negara Malaysia introduced pre-emptive measures to limit the number of outstanding housing loans so as to cool the Malaysia property market. Once Mr Lam gets the bank loans, he has to make sure he sells the properties quickly and at a higher price before the loan repayment commences. He has a small window period of a few months to get this done.
But this did not happen for the two properties in a prime area in Kuala Lumpur that he now has. “I cannot get a buyer. Not even a tenant (to rent). I have to start paying the banks for the loans with my own money.” He also realises that the property market is slowing down and his chances of selling these properties off is getting slimmer by the day. With Real Property Gains Tax made steeper in 2014 at 30 per cent for properties sold within three years, he would need to have a huge profit margin to offset the tax.
The mighty flippers may flop
Situations like this are nothing new to Siva Shanker. He has seen loads of such cases and he does not see a rosy end to this tale. His 34 years of experience as a real estate agent tells him that Mr Lam will either start cutting down his expenses so he has spare money to service the banks loans until a buyer comes along. “Or he will start borrowing from relatives or, worst still, from loan sharks.”
“A sharp rise in value (of properties) creates the flipping culture,” says Siva Shanker
The number of property speculators, or flippers, caught between a rock and a hard place are likely to increase as the market slows, says the chief executive officer of the Agency of PPC International Sdn Bhd. PPC International is a 24-year-old company that handles a wide range of services from valuation to estate agency, property management, research and consultancy.
“A sharp rise in value (of properties) creates the flipping culture,” he tells The Establishment Post. “In 2010, 2011 and 2012, thousands of properties were sold to flippers. These are people who neither need the property nor can afford to buy it. They buy it purely on speculation,” adds Mr Shanker, the immediate past president of the Malaysian Institute of Estate Agents.
Getting the DIBS on Malaysia Property Flipping
One of the reasons for a huge rise in flippers is the Developer Interest-Bearing Scheme (Dibs) where a house buyer need not pay down payment upon signing of the sale and purchase agreement. The developer will also bear the other expenses like stamp duty, legal fees and also interest on finance during the project construction period until the handing over of the keys. This is when the buyer will have to come up with the remaining payment. In essence, the buyer only pays for 90 per cent of the property value. In Malaysia, down payment for properties is at 10 per cent.
It may appear to be a win-win situation for all. The buyer thinks he is paying less for a property, and the developer has a marketing tool to sell properties quick. But speculators do not realise is that the value of properties sold under Dibs are actually marked up. This artificially hikes the property value and has caused the property market to rise unnaturally. Dibs was scrapped in Malaysia Budget 2014. Bank Negara was forced to take this measure when household debt soared to 86.8 percent of gross domestic product in 2013.Property Transactions in Malaysia
But the worst is not over. The effect of Malaysia property flipping is going to hit the property market in a bad way, according to Mr Shanker. “We will see a new category in property transactions – properties from flippers.” Presently, all property transactions involve the primary market, which are the newly built units, and the secondary market, which are the houses built and bought long ago that have now been sold.
He feels this category of property transactions will constitute a sizeable “5 to 10 per cent of new stock”. Flippers may be forced to sell their properties at much reduced, or even lower than the purchase price, so not to be saddled with a property they cannot afford to hold. So when a Residential property transactions in Malaysiasizeable number of properties are made available in the market at much reduced prices, it is not going to be pretty for property investors and owners.
Iskandar under flipper attack
When talking about the economic region in the southern state of Johor, Iskandar Malaysia, Mr Shanker says that Iskandar is a case of a great development project that is overbuilt in one sector, namely housing. “Everything else is still blue chip.”
He says Iskandar has everything working for it: a state government that is committed towards supporting this region by building good infrastructure; supporting industries and incentives for businesses to start and develop; supported by world-class health and education sectors. It is all that Singapore would need to accommodate its growth.
“But the idea got hijacked. Flippers rushed in and one sector is grossly overbuilt. We should give Iskandar a chance to grow,” he adds.
Elsewhere, property flipping is losing its appeal
Property flipping is fast becoming a thing of the past in the West. “China, Singapore, Malaysia, Hong Kong are now where the West have been and gone through,” Vijay Manavalan, a property negotiator in Malaysia involved in promoting properties in UK for investment.
“To get value out of property investment, it is best to get slow income, and not flip. There will not be many more markets around the world to flip. Investors need to look at the rental income that can be generated,” he tells The Establishment Post.
He says that many Malaysians and Singaporeans are starting to see the wisdom in this and are buying properties in the provinces in the United Kingdom. Generally, in places where they had done their tertiary education like Birmingham and Brighton.
“A property in London is like a trophy asset, not purely investment but trophy-led. Yields from rental are not as high as the yields in provinces outside London,” he says. “London experienced the flipping from 2001-2014. Cooling measures have been put in place last year. We’re not predicting too much growth in London.”
With a combination of government measures and diminishing opportunities, Malaysia property flipping may just be a thing of the past and Malaysian property market can be allowed to grow naturally and at a steady pace.
Read more: Malaysia Property flipping and its ugly effect http://www.establishmentpost.com/malaysia-property-flipping-ugly-effect/#ixzz3hnPB1vyN
Thank you for reading The Establishment Post. Permission to reproduce material under the "fair use" principle is granted PROVIDED a link to the original source material is included with the cited material. The Establishment Post maintains © ownership on
Follow us: @EstabPost on Twitter | TheEstablishmentPost on Facebook
Similar threads
