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Country garden @ Danga Bay is Launching Soon

Funniman

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The scale of launch is different. 9000 units require a big marketing effort. However I still cannot figure out why the developer doesn't want to launch phase by phase. This will reduce the chances of flooding the market and increase the protection of early buyers.

Yes, you are right. Any logical project development would do this phase by phase. Can you imagine all the 10 towers (I guess) start work? Imagine the road congestion by construction trucks, the shortage of materials, the shortage of workers, etc etc. And all had to be completed by 3 years from today?

Here's an interesting article. Hopefully it does not affect Country Garden Malaysia.

Aug 21 (Reuters) - China's banks have reduced lending to property projects in smaller Chinese cities due to concerns about an excess supply of homes in those areas, the chief economist at a state think-tank said on Wednesday.

Fan Jianping of the State Information Centre said third- and fourth-tier Chinese cities are sitting on a large inventory of unsold commercial homes following big land sales by local authorities in recent years.

Small Chinese cities have been cited by analysts as focal points for the country's property risks because their oversupply of homes is exacerbated by falling demand, as residents migrate to large towns in search of a better living.

"For many banks, when they hear that a developer wants new loans, their first concern is which city it is in," Fan told reporters.

"If they hear that you are in a third- or fourth-tier city, even if you are Country Garden, China Vanke , Wanda Group or other big firms, banks are still very cautious and will be reluctant to give you the money," he said.

When asked if China's government would intervene to raise demand for homes in small cities, Fan said authorities are loath to do so even though the glut of unsold houses have created "ghost towns" that have few residents.

There's no data on how many "ghost towns" exist, but several have gotten media and public attention, particularly Erdos in Inner Mongolia.

The Chinese government has intervened heavily in the country's frothy real estate market for nearly four years in an attempt to cool prices. It has restricted the number of homes families can buy and tightened funding for developers.
 

potter

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才十千??!! , 他妈的..小意思..! titter.gif
 

sgcount

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Not trying to be prejudiced. But I think that's the norm of PRC marketing. HYPE, HYPE and More Hype. Then all the gullibles will come tongue wagging. That's when the kill is. A good project and a good developer do not need all those carnival like marketing efforts. Ask UEM Sunrise, Sunway, SP Setia or Bandaraya.....they would be sold even before you know about it.

Yes, that's true. Good things even before they are released, even with little advertisement, they will be snapped up fast.

One concern I have is, after Country Garden spent so much on all the media advertisement, where are they going to get the money back from? Nothing is free in this world.

It can only mean 2 things. They sold the condo units at higher price than they are, and/or the quality of the condos leaves much to be desired when they are completed. We don't see it now cos if you just based it on the show rooms, they are only samples. The end result could be otherwise, knowing how China products are. My colleague bought an apartment in Singapore a few years ago, done up by a China developer. At the show room, I was impressed by the layout. But what came out from the real thing was a disappointment for my colleague. With 9,000+ units at Danga Bay.... I really feel skeptical.

No offence. Just analyzing.
 

ginfreely

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Yes, that's true. Good things even before they are released, even with little advertisement, they will be snapped up fast.

One concern I have is, after Country Garden spent so much on all the media advertisement, where are they going to get the money back from? Nothing is free in this world.

It can only mean 2 things. They sold the condo units at higher price than they are, and/or the quality of the condos leaves much to be desired when they are completed. We don't see it now cos if you just based it on the show rooms, they are only samples. The end result could be otherwise, knowing how China products are. My colleague bought an apartment in Singapore a few years ago, done up by a China developer. At the show room, I was impressed by the layout. But what came out from the real thing was a disappointment for my colleague. With 9,000+ units at Danga Bay.... I really feel skeptical.

No offence. Just analyzing.

The CG showflats are heavily done up even the flooring won't be the same when delivered. There is a sample show flat that shows what will be delivered but then not exactly too. For example, there is a remark pasted on the built in wardrobe indicating the wardrobe provided is "movable".
 

sgcount

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The CG showflats are heavily done up even the flooring won't be the same when delivered. There is a sample show flat that shows what will be delivered but then not exactly too. For example, there is a remark pasted on the built in wardrobe indicating the wardrobe provided is "movable".

Whoa, really?! I didn't see that sign. But I had thought the floor (which is the most basic) at least will be the same. Oh this is unacceptable then. Cos they can give you anything cheapo they like later.

So makes sense. They spent so much on the advertising and all the glamour, it's only logical later on, they take back the money lost. :smile:
 

cybermad

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Whoa, really?! I didn't see that sign. But I had thought the floor (which is the most basic) at least will be the same. Oh this is unacceptable then. Cos they can give you anything cheapo they like later.

So makes sense. They spent so much on the advertising and all the glamour, it's only logical later on, they take back the money lost. :smile:

pls read carefully . there was a sample showflat that is WYSIWYG except for the built in wardrobe.
 

ginfreely

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Whoa, really?! I didn't see that sign. But I had thought the floor (which is the most basic) at least will be the same. Oh this is unacceptable then. Cos they can give you anything cheapo they like later.

So makes sense. They spent so much on the advertising and all the glamour, it's only logical later on, they take back the money lost. :smile:

They have several showflats that were done up and one sample flat that shows what will be delivered. The flooring for the sample showflat shows the actual flooring while the done up units have glitzy marble flooring etc. The remarks can be found at the sample showflat for example on the built in wardrobe.

However, I think the development is nice on the whole and should be happening with 9000 units. It has got nice looking beach and landscaping with big cactus and even a library. The salesperson told me the developer is keeping the shops for rental only and not sale so as to keep them high end.
 

sgcount

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Oh I didn't realize that and wasn't alerted by the agent on this. When I asked specifically if the final items will be this colour, this material, etc, I was told No many times in 2 showflats. Maybe coincidentally, they were the fake installation ones.
 

sgcount

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Saw this report: On 20 August, Malaysians are in the lead as buyers at 60%, Singapore 2nd in place at 30%, and believe it or not, China buyers make up less than 10% with the rest of the other nationalities! Zhun bo??

From China half of the total population not too long ago, to 30% and then now drop to less than 10%. Some kind of propaganda or what?


Extract from Bernama (20/8/2013)

JOHOR BAHARU: The condominium units at the Country Garden Danga Bay property project, developed by one China's top property developers, Country Garden Holdings Ltd, has received an overwhelming response.

Country Garden's Sales Executive, Jeff Lee, said the locals and buyers from China, South Korea and Taiwan, have snapped up the condos.

"Since we started selling the 10,000 units barely weeks ago, over 8,000 units, estimated to be valued at RM8 billion, have been sold to Malaysians and foreigners.

"We are confident of selling the rest of the units and achieve the targeted RM10 billion in sales soon," he told Bernama.

Lee said 60 per cent of the buyers were Malaysians, 30 per cent Singaporeans and the rest from China, South Korea, Taiwan, Indonesia and Japan.

He said the company's sales gallery at the Danga Bay Convention Centre, which also showcased its show units, managed to chalk up daily sales of up to 200 units.

Besides the condos, the Country Garden Danga Bay project also included commercial development such as shopping mall and a commercial boulevard with total gross development value of RM18 bilion.
 

FHBH12

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Saw this report: On 20 August, Malaysians are in the lead as buyers at 60%, Singapore 2nd in place at 30%, and believe it or not, China buyers make up less than 10% with the rest of the other nationalities! Zhun bo??

From China half of the total population not too long ago, to 30% and then now drop to less than 10%. Some kind of propaganda or what?


Extract from Bernama (20/8/2013)

JOHOR BAHARU: The condominium units at the Country Garden Danga Bay property project, developed by one China's top property developers, Country Garden Holdings Ltd, has received an overwhelming response.

Country Garden's Sales Executive, Jeff Lee, said the locals and buyers from China, South Korea and Taiwan, have snapped up the condos.

"Since we started selling the 10,000 units barely weeks ago, over 8,000 units, estimated to be valued at RM8 billion, have been sold to Malaysians and foreigners.

"We are confident of selling the rest of the units and achieve the targeted RM10 billion in sales soon," he told Bernama.

Lee said 60 per cent of the buyers were Malaysians, 30 per cent Singaporeans and the rest from China, South Korea, Taiwan, Indonesia and Japan.

He said the company's sales gallery at the Danga Bay Convention Centre, which also showcased its show units, managed to chalk up daily sales of up to 200 units.

Besides the condos, the Country Garden Danga Bay project also included commercial development such as shopping mall and a commercial boulevard with total gross development value of RM18 bilion.

I believe the Chinese bought more in the earlier phases with sea view units, but overall Malaysians bought more as they come in later phases. When I was in JB I could sense the enthusiasm among Malaysians for this project.
 

malpaso

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I believe the Chinese bought more in the earlier phases with sea view units, but overall Malaysians bought more as they come in later phases. When I was in JB I could sense the enthusiasm among Malaysians for this project.

enthusiasm to stay, or enthusiasm to make a quick buck by flipping?
 

Funniman

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haha... yeah. but it was a serious question actually. i want to know.. i wasn't being sarcastic about the project. truth is, it may turn out well :smile:

It is easy to flip if the property is exclusive and short of supply.
It is not easy to flip when you have 8999 units competing with you. If everyone wants to flip, the price can only go down and it is a buyers market.
 

jerrycoaching

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I believe the Chinese bought more in the earlier phases with sea view units, but overall Malaysians bought more as they come in later phases. When I was in JB I could sense the enthusiasm among Malaysians for this project.

I beg to defer. When I was at the sales gallery. I could sense more malaysians bringing their kids there to play at the beach, photo takings & swim at the pool. It's a development that doesn't excite most malaysians. Just look at the pricing. :smile:
 

sgcount

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It is easy to flip if the property is exclusive and short of supply.
It is not easy to flip when you have 8999 units competing with you. If everyone wants to flip, the price can only go down and it is a buyers market.

I think flipping is easier now. Later, not sure but unlikely.

That's why many who booked like nobody's business are letting go. If the units can be confidently sold off next time, why don't these people keep them for themselves? Some may not afford it, but many others I know can. So I think there's a big question mark over everyone's head on the future of the CG development.

I've heard a few sellers tell me: This condo good. Next time price goes up, sure you make money. Just pay me RMxxxxx under table money. It's a small sum to pay now. Then one day, I ask back the seller. Yah it's so good. Then why don't you keep it for yourself and make more money next time? Ha, he kept quiet.

The danger is, even if the price increases next time, which it should, it could be only paper gain. As Funniman puts it, you're up against so many other units for competition. So the opposite may happen. You may need to slash your asking price a lot in order for buyers or tenants to be interested.
 
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sgcount

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actually, how to tell if those at the sales gallery are Malaysians or not? :smile: but as jerry said, I do see a lot of them are more interested in the carnival and to jalan jalan only.

this project was pre-released much earlier in China than any of us in Malaysia/Singapore at much lower prices. From reported 50% china buyers initially to now <10%? How can the numbers reduce so drastically? They all flipped like crazy??

something fishy.... I think it's more like many have lost interest to buy when they heard it will be crowded with PRC residents next time. So the dev changed the statistics?
 
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