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New developments to share

Funniman

Alfrescian
Loyal
Re: The Epic :smile:

Already long wait since my Spa signed last year

Dunno if the implementation date is from the date of SPA or from the date of consent. Surely there must be a cut off date.
But then again, many SPA is conditional to the state consent, therefore the effective date can be changed.
 

Funniman

Alfrescian
Loyal
Re: The Epic :smile:

Some believe LH will Outperformed FH..... due to their experience in Singapore.

But I will rather stick to FH and make less money.

In Malaysia, it is definitely FH which essentially means you do not need state consent to sell. But not too sure about this new IRDA ruling.
Sometimes the consent for LH sale is very slow as the state excos meet once every 3 months. If overloaded, then it is a long long queue.
 
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Funniman

Alfrescian
Loyal
Re: The Epic :smile:

Ppl always get confuse btw investment and asset price inflation.

Poor people like myself do not know the difference.
The only thing I know now is I see, I like, I buy and I keep.
Who bothers what value it is going to be in future as we cannot control what we do not know.
I will only know the difference when I sold it and money is in my bank.
 

Chocolate

Alfrescian
Loyal
Re: The Epic :smile:

Some believe LH will Outperformed FH..... due to their experience in Singapore.

But I will rather stick to FH and make less money.

I am wondering if LH as in Medini will be spared if they implement new rules. As it is,in Medini there is no quota for foreign buyers as its a special zone and certain restruictions have been lifted including minimum purchase price, foreign buyers can buy units below 500K. If the new retrictions are implemented, it may result that only in these special zones there wil be free buying and selling, as in foreign buyers can buy any unit from anyone.If that is so, then Medini will have an advantage.LH may indeed outperform FH.
 

rotikok

Alfrescian
Loyal
Re: The Epic :smile:

Poor people like myself do not know the difference.
The only thing I know now is I see, I like, I buy and I keep.
Who bothers what value it is going to be in future as we cannot control what we do not know.
I will only know the difference when I sold it and money is in my bank.
Nothing wrong for ppl buy for own use, just when the amount of ppl buy for not own use ('in the name of investment') starting to grows...it will turn out to be asset inflation. They knew u will like and buy, they too sapu and accumulate.
 

omnifly

Alfrescian
Loyal
Re: The Epic :smile:

The indecisiveness and poor policy-making of the Malaysian government is showing up again in the recent news on increasing taxes for foreigners, especially the part on foreigners needing to seek approval to sell their Malaysian properties, and only allowing foreigners to only buy from foreigner owners in the resale market... even though these are only ideas and not yet implemented, it goes to show their thought process... what are they thinking??

Anyway does anyone know the details on allowing foreigners to only buy from foreigner owners (not locals)... like does it only apply to developments with Bumi units, does it also apply to those with no foreigner quote like Medini & Puteri Harbour?

* Confused *
 

Investor

Alfrescian (Inf)
Asset
Re: The Epic :smile:

That is a very strict but safe criteria. However not everyone can afford >$2mil RM Ataska :p

Whether it's safe or not depends on the buying price, not just the location. There's no doubt that JB city center within 2km of Causeway(with MRT linking from Sg in future) is great but - IF the price is right. A location can be good - With MRT and big mall right beside, but the developer can already price-in such factors. So to be safer, we should look at affordability in the view of Singaporeans(or to be more precise - demand from Singapore, because many are expatriates in Sg). Why? Those relatively well-to-do people from Sg are already buying up high-end landed properties somewhere in Iskandar for own stay as they simply love(yes love, not just 'like') the living environment, the space and of course - The affordable price. How do you judge affordability in this case? Solely based on your own financial ability? No! A buyer from Sg who decides to buy and stay in Iskandar has to sacrifice his/her precious time and energy to drive a longer distance and get stuck and frustrated in traffic jams everyday just to go to work in Sg and going back to their house in Iskandar after work. No one in the right mind will sacrifice in this way if he/she can afford the exact same kind of property and living environment in Sg. When one can afford a RM4mil(SGD1.6mil) bungalow with swimming pool in Iskandar, it doesn't mean that he/she can afford a SGD10mil bungalow of the same size and quality in Sg. So affordability in such cases are totally dependent on Sg's price. That's why when someone tell you that you cannot use Sg's price to judge Iskandar's future price, they just didn't think deep enough. (I'm not saying that every single person who bought in Iskandar cannot afford the same in Sg, there are many high-net-worth multi millionaires from Sg who bought bungalows somewhere in Iskandar for investment and not for own stay - That's different).

We cannot use the same judgement on simply 'anywhere else' in the world but Iskandar because Iskandar is right beside Sg and it can be predicted since the early years of Iskandar(when cumulative investments, with a big percentage from private sector, received by Iskandar was already in tens of billions) that a big part of the future demand will definitely come from Sg especially for the high-end properties. Since a big part of the demand will be from Sg(which already happened), we can definitely take Sg's price to judge Iskandar's future price. For someone from Sg to sacrifice time and effort plus to stay in a place which is not as safe, of course there must be a big discount from Sg's price. A 60% discount will definitely still attract many from Sg. As I've mentioned earlier, prices of such high-end landed properties in Iskandar is still just around 25-30% of Sg's cheapest 99yrs landed in a far corner like Jurong(of course we cannot use the price of a property with just 50 or 60 years of balance lease to compare to Iskandar's Freehold, using the price of a landed with 80 years of balance lease to compare is 'safe' enough). In this case, we don't need to bet on the economical success of Iskandar to make profit. If Iskandar is so economically successful one day and safety improves a great deal, this discount from Sg's price will definitely become smaller due to the increase in demand from Sg, other countries and of course Iskandar itself internally, and we can take such extra profit as a big fat bonus(if you keep your property that long to see that day). I'm not saying that Iskandar will never build a strong and successful economy itself in the long run, but to bet on such a success simply mean extra risk when compared to betting 'without' the need for an economical success of Iskandar. I'm also not saying that the mid-range or even affordable properties won't appreciate in price, just that the high-end ones will take the lead in setting new highs while the next level will follow after that. You can buy a mid-range property in a 'heartland' township 30km away from the hottest area which takes the lead in price appreciation, but to see appreciation later than others, that's another added risk as compared to investing in those areas which take the lead in price appreciation. Moreover, in these areas which take the lead, like for example Nusajaya - Land supply is mainly controlled by UEM and IIB, thus the tighter control to prevent over-supply(the threat to strong demand) in this key area.
 
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Investor

Alfrescian (Inf)
Asset
Re: The Epic :smile:

What is your idea of near Singapore or near Iskandar CBD? Would a radius of 20km from CIQ be considered such?

From Woodlands Causeway, the CBD is JB City Center.
From Tuas, the new City Center is Medini.
Both are near Sg. 20km from CIQ is definitely too far.

Most high end landed properties from Tuas side are right beside Medini or less than 5km away. Horizon Hills, Leisure Farm, Eco Botanic, Ledang Heights, East Ledang etc are the popular ones now. In the near future, other high-end ones coming up in and around Medini will be eg. Sunway's Medini and Pendas, Temasek and Khazanah's Avira @ Medini, D'Estuary @ Puteri Harbour, Emerald Bay @ Puteri Harbour etc etc.
 

malpaso

Alfrescian
Loyal
Re: The Epic :smile:

The indecisiveness and poor policy-making of the Malaysian government is showing up again in the recent news on increasing taxes for foreigners, especially the part on foreigners needing to seek approval to sell their Malaysian properties, and only allowing foreigners to only buy from foreigner owners in the resale market... even though these are only ideas and not yet implemented, it goes to show their thought process... what are they thinking??

Anyway does anyone know the details on allowing foreigners to only buy from foreigner owners (not locals)... like does it only apply to developments with Bumi units, does it also apply to those with no foreigner quote like Medini & Puteri Harbour?

* Confused *

Actually have recently spoken to a few local johoreans, and they like the new rule(s). esp the younger working adults who have been saving to buy a property, they applaud it. and these are chinese locals btw.
 
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FHBH12

Alfrescian
Loyal
Re: The Epic :smile:

Actually have recently spoken to a few local johoreans, and they like the new rule(s). esp the younger working adults who have been saving to buy a property, they applaud it. and these are chinese locals btw.

Buyers want the price to crash - bears. Owners want the price to rise - bulls. Same storey as in Singapore. But the buyers may not realise at current prices and inflation kicking in due to fuel price increase, clampdown in foreign construction labour, coming GST, coming RPGT, prices will still rise.
 

malpaso

Alfrescian
Loyal
Re: The Epic :smile:

Buyers want the price to crash - bears. Owners want the price to rise - bulls. Same storey as in Singapore. But the buyers may not realise at current prices and inflation kicking in due to fuel price increase, clampdown in foreign construction labour, coming GST, coming RPGT, prices will still rise.

this is a really funny encounter. i was at a showroom (KPO'ing only) and asked the sales guy about the impending rules. he said "good for us (locals), otherwise if prices run out fast i can never afford" so then i said "errr.. then i better wait until market drop i can buy cheaper, right?". he looked stunned for a minute. :smile:
 
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shctaw

Alfrescian (Inf)
Asset
Re: The Epic :smile:

They think the way they did; because they still have not buy into the market.

Once they bought a condo; then you tell them you cannot sell to foreigners. See how they think.

This rule will dissect the Johor property market into 2 segments.

1. Local restrictive properties. (local only can sell to local)

2. Premium "All Boleh" properties. (Foreigners owning this condo can sell to anyone. Both local and foreigners.)

I wish to take this opportunity to thank the Malaysian Government for making the rich to become richer.

Actually have recently spoken to a few local johoreans, and they like the new rule(s). esp the younger working adults who have been saving to buy a property, they applaud it. and these are chinese locals btw.
 

cybermad

Alfrescian
Loyal
Re: The Epic :smile:

really mind boggling who thot of this wise idea. brilliant chap !

They think the way they did; because they still have not buy into the market.

Once they bought a condo; then you tell them you cannot sell to foreigners. See how they think.

This rule will dissect the Johor property market into 2 segments.

1. Local restrictive properties. (local only can sell to local)

2. Premium "All Boleh" properties. (Foreigners owning this condo can sell to anyone. Both local and foreigners.)

I wish to take this opportunity to thank the Malaysian Government for making the rich to become richer.
 

RedsYNWA

Alfrescian
Loyal
Re: The Epic :smile:

Actually have recently spoken to a few local johoreans, and they like the new rule(s). esp the younger working adults who have been saving to buy a property, they applaud it. and these are chinese locals btw.

These locals got no brains really.....the foreigners are not restricted from selling to anyone (locals & foreigners) but locals cant sell to foreigners. JB is probably the only property market which is proposing to discriminate against the locals in favour of foreigners.

I suspect with feedback, the rule could be amended to: locals sell to locals and foreigners to foreigners only. With this method, the foreigner quota will be controlled. However, that could create foreigner enclaves which is not desirable, if the political situation changes, aka Indonesia 1997. Need to monitor the budget and state parliament debates carefully....
 
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Chocolate

Alfrescian
Loyal
Re: The Epic :smile:

These locals got no brains really.....the foreigners are not restricted from selling to anyone (locals & foreigners) but locals cant sell to foreigners. JB is probably the only property market which is proposing to discriminate against the locals in favour of foreigners.

I suspect with feedback, the rule could be amended to: locals sell to locals and foreigners to foreigners only. With this method, the foreigner quota will be controlled. However, that could create foreigner enclaves which is not desirable, if the political situation changes, aka Indonesia 1997. Need to monitor the budget and state parliament debates carefully....


It wont be easy for foreigners to sell their properties for profit as it has been mentioned they may not allow sale of first property or approval must be sought, this will slow down process. Am sure more curbs will come along to prevent foreigners from flipping for easy profit. Possibly higher taxes, especially RGPT or even a flat capital gains tax.
Moreover will foreign and local quota in place I foreseee that developers will have to give huge discounts to locals to buy, otherwise Malaysians wont want to buy due to retrictions. I wont even buy if they give me a 10% disocunt as my unit comes with retrictions. It is just like the current bumi units, when they sell they have to give big discount. So many of the rich bumi s prefer to forego discount and just buy a normal unit, they are free to flip to anyone.I heard this from SP Setia staff.

Developers cant sell only to foreingers and have large nos. of vacant units. If they give discounts to Malaysians, who do you think will be 'subsidising' these?
 
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