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arsenal

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The main reason why I won't buy KL, New York, London, Hong Kong, Shanghai is ..they are too far away. How often can you visit these houses? Why buy JB? It is just 30-45min travel from Singapore downtown during non peak and the price is 10-20 times cheaper than Singapore..




I've decided to pull out of my JB property hunt as I feel it is being priced at premium.
- Nusajaya location isn't yet mature and the land is 3x of singapore.
- The rental market is poor and with the flood of Singaporean money into Nusajaya or surrounding, this create the surge in supply. This will give further poor rental yield.
- I was talking to developer and for the property around RM700k + RM100k reno + fitting = her monthly estimated rental is only RM2k to max RM2.5k.
If I buy this Nusajaya property it only means I'm subsidizing others to stay.
- Whenever only foreigners are buying. The property is deemed to be premium. Look at who are buying in Nusajaya? 90% foreigners.
- With equal price/psf I can get a better appartment at the heart of KL, the capital.

Just compare this Orion condo in KL with Impiana East Ledang:
http://www.iproperty.com.my/propertylisting/821509/City_Centre_Condominium_ForSale
- Impiana has inferior appartment status while Orion is a condo status.
- psf price wise is the same but I believe Orion has better interior fitting as it has condo status.
- Orion at the heart of KL city. Impiana at the heart of ledang city still surrounded by woods.

Similarly you still can find landed in KL with the price of Horizon Hills. why would I buy unproven location?
 

arsenal

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You are right. You should stay in Singapore. JB is not suitable for you.

if it is the issue on monetary differences, of course living in JB has lower expeneses, but that is because you are working in Singapore and staying in JB.
But if it is about security, and living standards, i dont think living in JB can offer that.
 

arsenal

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Happy birthday and congratulations for putting your best foot forward...

28/12 , Today I am 1 yr older Liao, am so glad that I bought a house in jb as a present to myself.
As I was sitting at mac this afternoon, am feeling very gd n observed e ppl around me. I never feel so eased before , no need worry my iPad or valuables will be snatched etc. If I am in sentosa , I won't dare to walk around or use my iPad openly.
 

DREAMorACTION

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Agree. On top of can, u can come in every month to collect rent and need not appoint managing agent :wink:

The main reason why I won't buy KL, New York, London, Hong Kong, Shanghai is ..they are too far away. How often can you visit these houses? Why buy JB? It is just 30-45min travel from Singapore downtown during non peak and the price is 10-20 times cheaper than Singapore..
 

arsenal

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Congratulations on your straits view residence.. With the new highway, I am sure more and more people will discover that area. Leisure farm is really nice.. Buy for own living won't be wrong..

I just read up quite abit on leisure farm... Thought of visiting it one of these weekends. Location and surrounding looks ideal but understood from the forum that there is a problem with the road leading up to the development.

Personally, I use gps to drive around JB instead of relying on an agent to take me around. Not too difficult if you do your research and plan the trip beforehand.
 

pasture8

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Aiyo, use your charm a bit .... He/she only have a short one, u bring a longer and thicker one lor haha. He/she will sure give in and bow u lol ....

Its true, i observed her for a moment not more than 5 seconds, with my family in tow just after shopping and passing by the jewelry shop. The long and thickness of his "tool" has a momentary impact on me... imagine the 6 ball pallets fired point blank directly into your abdoman, for a moment i felt sicken by the thought. We watch on hollywood movie not so scarry but when you come face to face so close to the weapon...the feeling is different. Definitely, her presence sends a chill down the spine of would-be robbers making them think thrice :eek:
 

vincentck

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Hi Vincent,

R u local? Did they offer 90%? Is yours the revolving package? How efficient is rhb and any hassles in applying their loan? I'm considering cimb or rhb. Thanks :smile:
Yup, I'm Msian (hometown is listed on the list of homebuyers) and I only got 85% due to my other commitments. Mine is a normal loan package; need to open a savings account for them to deduct the installments. The person I dealt with is the Asst Loan Manager, and she was decent. Not much hassle, same as applying with other banks. And I didn't have to buy MRTA because it's not compulsory anymore. But based on a few postings here, apparently it's compulsory for foreigners.
 

DREAMorACTION

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Woah, then u should entice her to guard your taman. And u will be able to officially speak to her becuZ he she will be serving u, and shall be at your mercy then lol

Its true, i observed her for a moment not more than 5 seconds, with my family in tow just after shopping and passing by the jewelry shop. The long and thickness of his "tool" has a momentary impact on me... imagine the 6 ball pallets fired point blank directly into your abdoman, for a moment i felt sicken by the thought. We watch on hollywood movie not so scarry but when you come face to face so close to the weapon...the feeling is different. Definitely, her presence sends a chill down the spine of would-be robbers making them think thrice :eek:
 

DREAMorACTION

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Ahh , I see thanks bro. Rhb has been short listed by me and I will speak to them soon. Thx

Yup, I'm Msian (hometown is listed on the list of homebuyers) and I only got 85% due to my other commitments. Mine is a normal loan package; need to open a savings account for them to deduct the installments. The person I dealt with is the Asst Loan Manager, and she was decent. Not much hassle, same as applying with other banks. And I didn't have to buy MRTA because it's not compulsory anymore. But based on a few postings here, apparently it's compulsory for foreigners.
 

pasture8

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Congratulations on your straits view residence.. With the new highway, I am sure more and more people will discover that area. Leisure farm is really nice.. Buy for own living won't be wrong..

Brother, you are familiar with leisure Farm? I read somewhere sometime back ago that LF owners took many years to obtain their land/strata title...? But i didn't follow the story. LF was always on my mind course firstly its nearer to 2nd link and another reason i am thinking of introducing a couple friend to purchase there and build their house, the brother is an architect. Will pay a visit if got opportunity.

cheers :smile:
 

DREAMorACTION

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Hi all, something I can't digest here. Hope u can help to explain.

1) assuming snp price 100k
2) 10% down payment
3) bank only loan 70%
4) for remaining 20%, which is equivalent to 20k, at what stage do I pay? As in do I pay 10% + 20%, then only followed by 70%?
5) assuming suddenly the 20% is defaulted, who will repossess the property? Bank only owns 70% of share. Developer 30%.
6) then assume that I'm a cash buyer. Do I follow progressive payment schedule as well? If so, isn't there no security to developer if I default at any period during the construction period? Or am I required to put down 100% upfront for cash purchase?

Thanks
 

pasture8

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Woah, then u should entice her to guard your taman. And u will be able to officially speak to her becuZ he she will be serving u, and shall be at your mercy then lol

brother "wet" DREAMorACTION, my taman will be also your taman come Jan 2012 :cool: no worries, we have our indian auntie :biggrin:
 

maxpark

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The main reason why I won't buy KL, New York, London, Hong Kong, Shanghai is ..they are too far away. How often can you visit these houses? Why buy JB? It is just 30-45min travel from Singapore downtown during non peak and the price is 10-20 times cheaper than Singapore..

I tend to agree... though I had bought in HK and China years back and made some good money.
Personally, I will only invest in places I stayed in or very familiar with, so that you have time to do legwork homework and buy something you're comfortable with.
Otherwise, it would be too much hassles... I was lucky back then to be based overseas.
 

Icyraine

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Assume the whole Nusajaya development 90% demand is by non Malaysian. This is terrible as the pool of foreigners are limited.
This doesn't create enough liquidity for secondary market and it also means won't see higher resale value.

Bro, your assumption is way off... 90% from foreigner? From the recent report (after Najib visited JPO), it was something like 60% local, 40% foreigner (general investment, not residence alone). Any how, it;s true that the current rental will not support our monthly installment. However, in terms of capital appreciation, even though there is significant price increment compared to 3 years ago but i am still confident that we are far from hitting the top. Of course the overall market may be affected next year due to economy crisis but I believe Iskandar will still be a success 10 years down the road. I just read the news about MY government taking down few ex-iskandar officers for corruptions dealing with project/ investments, and they said more people will be charged in the near future. This is a good sign as it shows that they are serious about attracting long term foreign/ local investment. My impression so far is that the Najib government is pretty keen and serious in ensuring the success of Iskandar.

Having said that, I dont take "Nusajaya" as a gold mine and i fully agree that there are many other places that may potentially give better return than Iskandar, so your decision to invest in KL is not flaw. I bought property at Nusajaya for my own stay ( more like 60% own stay and 40% investment) so my objective may differ from yours. As long as i have the "holding power" during difficult times, i know my investment in Nusajaya is quite safe.

Good luck bro!
 
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DREAMorACTION

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Hey, less the "wet" leh haha ... Then u get her to your precinct first, and introduce to me later. Indian aunties no good. Have u seen the size of that aunty at precinct 8! I won't elevator further. She is also a "heavyweight" champion and I'm sure she can box out some intruders! U say I say one ....

brother "wet" DREAMorACTION, my taman will be also your taman come Jan 2012 :cool: no worries, we have our indian auntie :biggrin:
 
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Lord Aragorn

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arsenal said:
Congratulations on your straits view residence.. With the new highway, I am sure more and more people will discover that area. Leisure farm is really nice.. Buy for own living won't be wrong..

Thanks.

You have a unit at Leisure Farm? How long is the drive to 2nd link? I just saw in an online ad that there is an open house at Bayou Creek. Are there units still avail from developer?
 

arsenal

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I love leisure farm.
Maintenance is comparable to any other Tamans.. Some people worry about the small road leading to the area.. But I am sure they will open a more direct road to the highway in near future..
I love Malaysia especially Johor and their food. Johor properties price is stagant for decades until recent years after the govt foreigner min 500k policy and recent development in Nusajaya. I travelled average 60% monthly for the last 15 years and been to many places.. Nusajaya is really nice.. We dont to have to look too far like Australia, new Zealand, Canada etc..we already have a world class city in Singapore. Nusajaya provide us a place to getaway, breathe, retire and it is only 45min from orchard road during non peak and culturally we are similar.. why pay more in Singapore, for the interest of who?


Brother, you are familiar with leisure Farm? I read somewhere sometime back ago that LF owners took many years to obtain their land/strata title...? But i didn't follow the story. LF was always on my mind course firstly its nearer to 2nd link and another reason i am thinking of introducing a couple friend to purchase there and build their house, the brother is an architect. Will pay a visit if got opportunity.

cheers :smile:
 
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