Condo Supply: Total no. of units in the pipeline.

[sotong007]

VERY COMPREHENSIVE LIST AND EFFORT! Pls give this guy a medal

Dont forget with the new rule that was announced (pending details and formal announcement) JB condo price will slow down. Landed as well tho I feel landed is a better buy than condo at these crazy asking price.....

Bukit bintang condo is 800 PSF. Why buy iskandar? Medini being marketed as new CBD. Sell at more than current CBD price. Why dont just buy current CBD at current price? Can rent out right away after buying.....

 

[Funniman]

Moment of truth will arise when you have sellers more than buyers. Not too sure about JB but in Nusajaya, it will be as follows:

Freehold versus leasehold.
Convenience of local transport & infrastructure
Immediate neighbourhood developments
Walking distance to commercial / retail areas
Mass market versus exclusivity
Security of condo and its immediate neighbourhood

It will be interesting to see which area race to be fully developed first. Puteri Harbour versus Medini?

 

[aliensmotor]

Not true. JB will be transform n become one of BIG city in Malaysia soon. It is nothing is impossible.

I'm only giving example if I were to buy a condo in JB. If I really were to buy a condo in Malaysia, it has to be KL, which has much higher quality n more rentable.

 

[sunriver]

I have another 17 names for which I don't have sufficient data. I think most are not launched yet:

1) Almeria
2) Azea Residences
3) Bayu Marina
4) EcoNest @ Eco Botanic
5) Golden Sands Seaview Residence
6) Manhattan SOVO suites
7) MidWest Ave
8) Molek Regency
9) One Sentral Serviced Apartment
10) Puteri Paradise Residence
11) Sky Estadia
12) Sky Tango
13) Suria Heights
14) SuriaMas Suites
15) Vantage Bay
16) Veridian Residences
17) Wetlands

 

[sunriver]

OK, just saw the news article posted in the "Puteria Harbor Community" thread about Suasana project launch. The total no. of units is 335 and to be
complete by 2015, slightly different from my list above.

Revised total no. of units = 53,285.

Hey... I'm the only one doing the bean counting so far

 

[FHBH12]

With your post I think from this weekend condo sale in Iskandar will be weak liao.

No lah, I where got so influential. I'm just a small fry who bought two landed in JB :p

But overall the condo numbers do not look good for flippers.

 

[sotong007]

Just called the hotline coz i kaypoh

EcoNest starting PSF 580. Include everything - DIBS, stamp, legal / loan fees and MOT
Total 472 units, 40% bumi lots, 50% international (which can be taken by locals)

Power pylons still there ready to fry ur nuts lol

 

[sunriver]

No lah, I where got so influential. I'm just a small fry who bought two landed in JB :p

But overall the condo numbers do not look good for flippers.

I think for an early indication for what lies ahead is to monitor the Country Gardens project. I heard that the SPA for final phase 3 is due to be signed in Sep. Will be interesting whether most of those who booked actually turned up to sign, and whether they actually managed to sell 80% (?) as claimed. If you hear anything material on the grapevine, please post !

 

[sotong007]

I can tell u a lot of project will be launched after the budget. Midwest plans been redesigned for smaller unit with higher PSF. was told 900 few months ago, now likely 1k

Did u include tri tower (Mahabuilder) in your list? that one another 400 plus units at 1k psf

 

[aliensmotor]

""Power pylons still there ready to fry ur nuts"" Wow..so powerful?

Just called the hotline coz i kaypoh

EcoNest starting PSF 580. Include everything - DIBS, stamp, legal / loan fees and MOT
Total 472 units, 40% bumi lots, 50% international (which can be taken by locals)

Power pylons still there ready to fry ur nuts lol

 

[sunriver]

Ok, adding 2 more condos to my list:

1) EcoNest @ EcoBotanic (Units=472, Year=?)
2) Puteri Cove Residences (Units=800, Year=?), sourced from new thread with same name on this forum.

Summary stats:

No of condos = 87
Total No of Units = 54,557.

 

[sunriver]

Just called the hotline coz i kaypoh

EcoNest starting PSF 580. Include everything - DIBS, stamp, legal / loan fees and MOT
Total 472 units, 40% bumi lots, 50% international (which can be taken by locals)

Power pylons still there ready to fry ur nuts lol

Please go kaypoh kaypoh on the other 16 names on my reserve list. Thanks in advance :p

 

[FHBH12]

Ok, adding 2 more condos to my list:

1) EcoNest @ EcoBotanic (Units=472, Year=?)
2) Puteri Cove Residences (Units=800, Year=?), sourced from new thread with same name on this forum.

Summary stats:

No of condos = 87
Total No of Units = 54,557.

Imagine the additional levies and taxes the Johor government can collect, not including the numbers from new landed, commercial and industrial properties. I hope the security and education can be improved.

 

[Ash007]

Here is a question. Is the 50K figure, +- a few K, a lot or too little for the market? What I understand is that Condos, apartment is more a drain as an investment. Are there maintenance fees, strata fees, etc associated with it? Why get an apartment when a landed property has its own piece of land?

 

[FHBH12]

Here is a question. Is the 50K figure, +- a few K, a lot or too little for the market? What I understand is that Condos, apartment is more a drain as an investment. Are there maintenance fees, strata fees, etc associated with it? Why get an apartment when a landed property has its own piece of land?

The demand is actually there but the prices are too high for the young working locals, and in newer areas far from workplace or parents. I suspect many are still bunking with parents in their old large landed house. Maintenance fees for condos should be higher than landed (if there is no major repair).

 

[sunriver]

Here is a question. Is the 50K figure, +- a few K, a lot or too little for the market?

I think one way to put the figures in perspective, is to compare against KL condo market. I came across a Knight Frank Malaysian property report "Real Estate Highlights First Half 2013". (Google for it).

In the report, KF reported that there are 32.5K units in KL of "high end condos" as of 1H2013. It list 20K units as of 2009, and a projection of about 40K at end 2014. This are all cumulative supply figures, and not total units launched for that year.

Furthermore it has a table "Average Asking Prices and Rentals of Existing High End Condominiums" as follows:

Locality ; Asking Rental (RM psf / month) ; Asking Price (RM psf)
========================================
KL City ; 3.00 – 5.50 ; 700 – 1,650
Ampang Hilir / U-Thant ; 2.00 – 4.00 ; 500 – 1,100
Damansara Heights ; 2.50 – 4.00 ; 650 – 950
Kenny Hills ; 2.00 – 3.50 ; 500 – 900
Bangsar ; 2.50 – 4.50 ; 500 – 1,100
Mont’ Kiara ; 2.50 – 3.50 ; 450 – 750

I don't know what is their definition of "High End Condos" but note that asking prices as low as 450-500 psf is counted as high end condo in their table

 

[Ash007]

And what happens after say 10-15 years when they need to replace the lift?

The demand is actually there but the prices are too high for the young working locals, and in newer areas far from workplace or parents. I suspect many are still bunking with parents in their old large landed house. Maintenance fees for condos should be higher than landed (if there is no major repair).

 

[RedsYNWA]

Does anyone know how condo valuations are worked out? (Condos in MY are more expensive than landed - opposite of SG)

Actually condos in MY are not more expensive than landed except if you calculate in psf and that is exactly the same in SG. Landed is cheaper here whether for sale or rental when calculated by psf.So the trend is the same.

Actually that's not true. As an example, just take a look at my current place, Molek Haven (2-storey terrace with built-up of 2,437 sq ft). This is selling for around RM 800K now.

Molek Pines 4 (within the same Taman, 1-2 mins drive) is selling from RM 944K onwards, and its min size is 1,441 sq ft. There are many other examples through the whole of Iskandar Malaysia, of 3-bedder condos being more ex than 2-storey landed for v similar locations.

 

[sotong007]

Its the same in whole of JB

I got one large condo unit at sky @ bukit indah, cost me more than the terrace house there...... and condo maintanance is way higher..... the only draw is the location may be better, and ppl may stay condo as its "less maintainance, and more security". Everyone has own preferance. I still think landed in malaysia is dirt cheap if buy further away from the desa/town centre

 

[alnine]

When land price is relatively cheap to building material it is like that. Also market demand at play. Developers can sell only 30% of bungolows vs 50% of condo to foreigners. But i think it is mainly material cost.