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

[sunriver]

I'm starting a new thread to keep track of the new condo supply (i.e. total no. of condo units) in Iskandar.

I've done a quick tally, and would like to share my findings. Some caveats about my data:

1) I try to use developer's project website data if I can find them via a quick google. Some developers don't seem to have any. Or they may have, but the no. of units and/or completion year are not available. For such cases, I used secondary sources.

2) My secondary sources include popular property portals, news articles, forums such as these etc. Obviously, these data may not be that accurate.

3) For mixed use projects, I only include the residential units in my count. But the M'sians seem to use the term "condo" and "serviced apartments" interchangeably at times. Where they use "Serviced Apartment" in the sense we use them in SG (ie. commercially-run establishments akin to hotels), I will exclude these projects. But my interpretation could be wrong

4) I only include condos that are already launched (whether wholly or in phases) and on the market. But I may have got the launch status wrong for some cases.

5) I also include condos which are completed earlier this year

So far I have 83 condos in my list... I do until tao hing :*:

According to my initial tally, there is about 53,000 condo units on the market.

I publish the list of condos in the next post, listing the total no. of units & year of completion by project. Let me know if there are errors and/or omissions.

I hope interested members will chip in with the bean counting !

 

[sunriver]

List of condos:
=========

S/No Total Units Year Complete Condo [Location]
==================================================================
1 644 2015 1Medini Residences [Medini]
2 625 2017 8scape @Iskandar (Phase 1) [Taman Sutera/Perling]
3 147 2015 Affiniti Residences @ Medini North [Medini]
4 430 2018 Astaka [JB town]
5 609 2014 Austin Regency [Mt Austin]
6 460 2013 Austin Suites [Taman Austin Perdana]
7 338 ? Blue Infiniti [Permas Jaya]
8 792 2016 Botanica @ Bayu Puteri [Taman Kolam Ayer]
9 396 2017 Capri Residences (Tower A) [Danga Bay]
10 9000 2017-2019 Country Gardens (Phase 1,2,3) [Danga Bay]
11 312 2014 D'Ambiance [Permas Jaya]
12 770 2015 D'Carlton Seaview Residence [Taman Megah Ria]
13 ? 2013 Degree Serviced Suites [Austin Heights]
14 602 2013 D'Esplanade Residence [JB town, KSL City]
15 585 2015 D'Inspire Residence [Nusa Bestari]
16 1187 2017 D'Pristine @ Medini [Medini]
17 328 ? D'Rich @ Nusa Duta [Nusa Duta]
18 1302 ? D'Secret Garden [Taman Kempas Indah]
19 849 2016 D'Summit Residences @JB [Taman Kempas Utama]
20 185 2016 D'Tasek Residences [JB town]
21 300 2014 EastBay Luxury Apartment [Pasir Gudang]
22 113 2014 Elita @ The Straits View [Permas Jaya]
23 573 2016 Encorp Marina [Puteri Harbour]
24 528 2016 Epic [Opp Taman Tasek]
25 240 2013 Fairway Suites [Horizon Hill]
26 273 2016 Garden Residences [Taman Mutiara Mas]
27 443 ? Grandview 360 [Taman Bayu Puteri]
28 561 2014 Greenfield Regency [Taman Tampoi Indah]
29 440 2013 Horizon Residence [Bukit Indah]
30 246 2015 Imperia Condominium ( Puteri Harbour )
31 232 ? Impian Senibong Residences (Phase 2) [Permas Jaya]
32 488 ? Impiana [East Ledang]
33 640 2016 Iskandar Residences [Medini]
34 512 2013 Jentayu Residensi [Tampoi]
35 908 ? Lido Boulevard Residences [JB town]
36 944 2016 M Condominum @ Larkin [Larkin]
37 400 2013 M Tiara [JB Town]
38 846 2017 Marina Bay Suites [JB town]
39 724 2017 Marina Cove [Tebrau/Plengtong]
40 284 2014 Marina View [Senibong]

..../con'td

 

[sunriver]

Cont'd....

S/No Total Units Year Complete Condo [Location]
===============================================
41 335 2016 Matex Residences [JB town]
42 786 ? Meridin @ Medini [Medini]
43 260 2013 Molek Pine 4 [Taman Molek]
44 910 2014 Nusa Heights Service Apartment [Nusa Jaya]
45 668 2017 One Temenggong [JB outskirt, Jalan Temenggong]
46 1160 2013 Palazio Service Apartment [Taman Mt Austin]
47 533 2015 Paragon Residences [JB Town, Lido Beach]
48 461 2016 Paragon Suites @ CIQ [JB town]
49 2003 2015 Parc Regency [Plentong]
50 222 2014 Perling Heights Apartments [Taman Perling]
51 264 2016 Pinetree Residences [Puteri Harbour]
52 275 2015 Pinnacle [JB town]
53 704 2015 Platino [Taman Bukit Mewah]
54 120 2015 Ponderosa LakeSide [Taman Ponderosa]
55 311 2016 Raffles Suites [Taman Sutera Utama]
56 483 2015 Residences @1 Tebrau [JB town]
57 506 2014 Seasons (Tower A&B only) [Jalan Larkin]
58 1230 2015 Seed @ Sutera Utama [Taman Sutera Utama]
59 420 2016 Seri Austin Residence Luxury Apartment [Tebrau]
60 294 2017 SKS Pavillion Residences [JB town]
61 588 2017 Sky 88 [JB town]
62 234 2016 Sky Breeze [Bt Indah]
63 364 2013 Sky Executive Suites [Bt Indah]
64 420 2013 Sky Garden @ Setia Tropika [Setia Tropika]
65 374 2014 Sky Loft [Bt Indah]
66 434 2015 Sky Oasis [Setia Indah]
67 482 2015 Sky Peak [Setia Tropika]
68 250 2015 Sky Suites @ Meldrum Hills [JB Town]
69 316 2016 Sky View [Bt Indah]
70 840 2016 Skyfront Danga Bay [Danga Bay]
71 584 2015 Southkey Mosaic Residences [JB Town]
72 342 2017 Suasana [JB town]
73 70 2014 Summerscape [JB Town]
74 1500 2015 Teega Residences [Puteri Harbour]
75 360 2017 Tri Tower Residences [JB town]
76 1149 2014 Tropez Residences [Danga Bay]
77 669 2016 Twin Galaxy [JB town]
78 320 2015 Twin Residences [Perling/Pasir Gudang]
79 260 ? V Summerplace [JB Town]
80 390 2015 WaterEdge Apartments [Senibong]
81 436 2018 WF Towers [JB town]
82 838 2017 Woods Residences @ Starhill [Starhill Golf CC, Kempas]
83 303 2013 Zennith Suite [Larkin]


Total No. of Units = 52,724

 

[ginfreely]

Wow so comprehensive list, i can only think of two more: Ujana and Idaman Residence

 

[cow138]

Wow. That's great.. the question is where is the demand coming from... real or speculation.

 

[jasonjst]

Wow. That's great.. the question is where is the demand coming from... real or speculation.

364 2013 Sky Executive Suites [Bt Indah] Almost a year liao Sky Executive is less than 30% fill. Only 365 unit at very cheap price, cant rent out , how to fill another 53K unit at very high price leh , we are talking about 800 to 1000 psf now .

 

[FHBH12]

Most of e condos that TOP in 2014 and 2015 have good takeup rates. The early buyers bought them at much reasonable prices so they r likely to have good holding power. The late buyers n those that TOP in 2016-2018 shd be e more problematic ones, in general, to rent or subsale. If there r any that I will buy, it will only be Sky Exec that has already TOP.

 

[cow138]

Yup. I saw that. It's something that pple need to be aware of before signing on the dotted line.

Many Malaysian are just riding the wave and speculating. Especially those that are working in Singapore but staying in Johor. They are just grabbing the houses in the hopes of flipping as the current market seems to allow for this as the newer development prices are just rocketing up.

 

[cow138]

But I think sooner or later saner minds willprevail else the crash will be very ugly

 

[sunriver]

Wow so comprehensive list, i can only think of two more: Ujana and Idaman Residence

Ujana TOP this year or 2012? My cutoff is from 2013 onwards.

If adding this 2: Ujana (168 units, 2013?) and Idaman Residence (400 units, 2015)....

Revised Total No. of Units = 53,292

In my list, I dun have the size of Degree Serviced Suites. Anyone?

 

[FHBH12]

Ujana TOP this year or 2012? My cutoff is from 2013 onwards.

If adding this 2: Ujana (168 units, 2013?) and Idaman Residence (400 units, 2015)....

Revised Total No. of Units = 53,292

In my list, I dun have the size of Degree Serviced Suites. Anyone?

Actual number shd be smaller ard 70-80% of ur estimates each year, bcoz I foresee resources constrain leading to slowdown in construction. Perhaps 10% may not get built or become delayed infinitely as developers face greater penalty to buyers than e profit.

 

[alnine]

Woow. Who will pick it up ? Where will the real demand come from ?

 

[hasslehoff]

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

Am I right to understand that new builds do not have a valuation assessed? Only by banks for loan purposes?

Currently is there a disconnect between the valuations (by banks/authorities) of landed and what owners want to sell their properties for, thus requiring something like a COV to bridge the gap. E.g. You bought at RM550,000, want to sell at a RM1million (Cause that's what developer selling at for new builds), but valuers assess your properties value as at RM800,000, so banks not willing to lend new buyer based on RM1mil, but RM800k; and new buyer needs to come out with RM200k cash. (So, what you can sell your property at is tied to the ability to finance, based on valuation, rather than what developers currently sell at)

Will condos be same as landed? If 50,000 resale condos come onto the market in the future and can't sell cause the valuations are very close to what ppl bought it at, or lower, compared to new builds (market value). Will this lead to more problems with supply/dynamics of condo market

Since owners can not get the price they want, they either have to sell cheaper or hold until the right buyer with cash comes along. In the case of Brunsfield, a 1 bed sea facing luxury Apt on 30th flr will cost RM1mil; 2km away at CG for RM1mil u get a 3bed Apt, 2km away at D'Tasek Residences for RM1mil you can get 2x3bed Apt. How will it work? Will the Brunsfield buyer be screwed later when he wants to sell, cause the original RM1mil for a 1bed Apt is seen as excessive by valuer?

Hope you not too confused and understand what I'm trying to ask..

 

[FHBH12]

again. let me pour some cold water (sorry) by offering you a better Setia project alternative in KL.
http://www.propwall.my/classifieds/...bandar-puchong-condominium-for-sale-by-pravin
roughly same price, right.
look at the city view.
no comparison to JB at all.

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.

 

[alnine]

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

Am I right to understand that new builds do not have a valuation assessed? Only by banks for loan purposes?

Currently is there a disconnect between the valuations (by banks/authorities) of landed and what owners want to sell their properties for, thus requiring something like a COV to bridge the gap. E.g. You bought at RM550,000, want to sell at a RM1million (Cause that's what developer selling at for new builds), but valuers assess your properties value as at RM800,000, so banks not willing to lend new buyer based on RM1mil, but RM800k; and new buyer needs to come out with RM200k cash. (So, what you can sell your property at is tied to the ability to finance, based on valuation, rather than what developers currently sell at)

Will condos be same as landed? If 50,000 resale condos come onto the market in the future and can't sell cause the valuations are very close to what ppl bought it at, or lower, compared to new builds (market value). Will this lead to more problems with supply/dynamics of condo market

Since owners can not get the price they want, they either have to sell cheaper or hold until the right buyer with cash comes along. In the case of Brunsfield, a 1 bed sea facing luxury Apt on 30th flr will cost RM1mil; 2km away at CG for RM1mil u get a 3bed Apt, 2km away at D'Tasek Residences for RM1mil you can get 2x3bed Apt. How will it work? Will the Brunsfield buyer be screwed later when he wants to sell, cause the original RM1mil for a 1bed Apt is seen as excessive by valuer?

Hope you not too confused and understand what I'm trying to ask..

In the first place the banks must have supported the developers' price. Otherwise if the buyer or borrower defaults on the payment the bank must be confident to get the money back from the sale of the condo.

 

[alnine]

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.

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

 

[malpaso]

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

..

naahhh. only in JB.

banks are normally quite amenable to match or come close to a price if there is willing seller/buyer.. the problem is the state consent (i.e valuation by state).

 

[malpaso]

In the case of Brunsfield, a 1 bed sea facing luxury Apt on 30th flr will cost RM1mil; 2km away at CG for RM1mil u get a 3bed Apt, 2km away at D'Tasek Residences for RM1mil you can get 2x3bed Apt. How will it work? Will the Brunsfield buyer be screwed later when he wants to sell, cause the original RM1mil for a 1bed Apt is seen as excessive by valuer?

.

my friend bot 2 bedder d-tasek residence 340K RM only.

 

[Chocolate]

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. Also, sevarl condos that will be ready this year and next year were bought at much lower prices than 800psf, even those in good loctaions, so the sellers will still be able to flip and make a tidy profit or lease for good yield.As for the current prices, only time will tell......

 

[cow138]

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

Why is the cause of the difference in quality? Price about the same.. Johor buyers more carrot?