Economic News

[sgcount]

Wahhh, even in this poor economy and bad property market? Johor lang so rich ah? But still cheaper than many recently launched Johor condos!

I suppose Singaporeans and foreigners can't buy them cos it's below RM1mil?


Remarkable take up of S P Setia’s double storey terraces in Bukit Indah, Johor

JOHOR BAHRU, September 19 : S P Setia’s newly launched double-storey terraces named Visca and Villosa located in its established Bukit Indah township received a remarkable 80% overall take-up during its launch.

The launch featured 73 units of 22’ x 75’ double storey terrace, Villosa with a built-up of 2,200 sq. ft. and 110 units of 20’ x 70’ Visca with a built-up of 1,920 sq. ft. respectively. Villosa is sold at RM 770,588 nett per unit while Visca is sold at RM652,288 nett per unit.

“We are pleased with the turn-out and encouraged by the response we have received. Our Bukit Indah township has flourished over the years and is now an address that is highly sought after in Johor as it provides residents with utmost conveniences. Known as a prime commercial and residential district, it is easily accessible via major roads and highways and surrounded with amenities such as schools, F&B outlets, hypermarkets, major banks, hotels and more ,” said Stanley Saw, Divisional General Manager of S P Setia Berhad.

Approximately 200 prospective buyers were seen lining up at the sales gallery for the balloting to own a unit in this established township. Both Visca and Villosa are located within a gated and guarded neighbourhood providing peace of mind and security to its residents. The units also feature a living area with high ceiling which promotes a naturally cooler environment at home.

The layout of the units is carefully designed to maximise space within the units for better continuous space flow from the living to dining and into the dry kitchen. Villosa also feature a semi-open clothes drying area and a convertible room at the first floor which allows residents to convert the family hall into a room.

Villosa accommodates four (4) bedrooms with ensuite four (4) bathrooms while Visca houses four (4) bedrooms with three (3) bathrooms. “Besides the amenities and conveniences, Bukit Indah is also known for its award-winning 20-acre town park located in the heart of the township, where community activities commonly take place in the evenings and over the weekends.

It is also renowned for its smaller parks, gardens and mature streetscape that are well taken care of, promoting a healthy neighbourly community and a nice environment for residents to come home to,” Saw added.

Construction for both Villosa and Visca has commenced with targeted delivery by September 2018. Bukit Indah is strategically located in Iskandar Malaysia. It is well served by a network of highways making it accessible from key locations in Singapore and Johor Bahru. It is located 13km from Johor Bahru via the Coastal Highway, 26km to Singapore via the 2nd Link Expressway and 29km to the Senai International Airport.

It is also located within close proximity to EduCity, LEGOLAND Malaysia, the Johor State Administration Centre, medical hub, international schools, colleges and universities.

http://focus.iproperty.com.my/news/...aces-in-bukit-indah-johor#5kZR0WayxFclfOQZ.97

 

[snowbird]

Wahhh, even in this poor economy and bad property market? Johor lang so rich ah? But still cheaper than many recently launched Johor condos!

I suppose Singaporeans and foreigners can't buy them cos it's below RM1mil?

You have forgotten something here, there is always a potential group of qualifying customers - the rich SPRs in Singapore and the equally rich Johorean travelling to SG to work everyday,
The proximity to the 2nd Link is the bonus.

 

[sgcount]

You have forgotten something here, there is always a potential group of qualifying customers - the rich SPRs in Singapore and the equally rich Johorean travelling to SG to work everyday,
The proximity to the 2nd Link is the bonus.

Yes. The desire to live in Johor is still strong among those in Singapore.

 

[snowbird]

Yes. The desire to live in Johor is still strong among those in Singapore.

Many SPRs come from as far as Penang or Sabah, but knowing that they'll be working in SG for a long long time, its only wise and natural for them to invest in a property in nearby JB.
Buying a RM750K landed unit in JB like the one mentioned is much cheaper than some resale 3rm HDB flat (some called it pigeon hole) in SG.
And best of all, they are free from any restrictions, they are Malaysians!

 

[rotikok]

Yes. The desire to live in Johor is still strong among those in Singapore.

Landed and condo although both are residential space, is entirely different market, behave differently as well. The queue are all chinese as you may see in the photo...given the right product, the demand is still there.

Gated and guarded landed should have project in gelang patah, tj kupang area in future, big corp are all hoarding up land space. By the time they release project shud all over a million ringgit, tok and chop singaporean.

 

[Investor888]

My rich SPR friends with salaries over 6k Sing dollars ( well that's rich by Malaysian standard ) wont be buying Bukit Indah houses.

Most probably those RM 1 million to 2 million plus semis in HH or East Ledang or sea views condos in Puteri Habour to enjoy life. With RM 18,000 income a month a RM 5000 instalment is nothing to them.

But if u are earning S$6000 a month in Singapore and has a car, don't think u should be looking at a pigeon hole condo at all. Most likely a BTO

You have forgotten something here, there is always a potential group of qualifying customers - the rich SPRs in Singapore and the equally rich Johorean travelling to SG to work everyday,
The proximity to the 2nd Link is the bonus.

 

[sgcount]

For Singaporeans, a lot of factors determine what they will buy. $6k a month salary plus other spouse's similar salary, combined is about S$12k. (Rich by Malaysian standard?!)

With S$12k, can consider SG condo. But also depends if got kids.

Not everyone wants to live in a big house. Actually, there could be more problems. Quite ironic huh! Sometimes "small and cozy" is the in-thing to some people.

My rich SPR friends with salaries over 6k Sing dollars ( well that's rich by Malaysian standard ) wont be buying Bukit Indah houses.

Most probably those RM 1 million to 2 million plus semis in HH or East Ledang or sea views condos in Puteri Habour to enjoy life. With RM 18,000 income a month a RM 5000 instalment is nothing to them.

But if u are earning S$6000 a month in Singapore and has a car, don't think u should be looking at a pigeon hole condo at all. Most likely a BTO

 

[sgcount]

Only thing scared is if they increase minimum sum for foreign owners again. Maybe to RM1.5 million?

If that happens, Singaporean buyers got to accept that they should keep the home for good and Malaysia with its culture, language, politics, etc is their 2nd home.

Landed and condo although both are residential space, is entirely different market, behave differently as well. The queue are all chinese as you may see in the photo...given the right product, the demand is still there.

Gated and guarded landed should have project in gelang patah, tj kupang area in future, big corp are all hoarding up land space. By the time they release project shud all over a million ringgit, tok and chop singaporean.

 

[Tekkun]

For Singaporeans, a lot of factors determine what they will buy. $6k a month salary plus other spouse's similar salary, combined is about S$12k. (Rich by Malaysian standard?!)

With S$12k, can consider SG condo. But also depends if got kids.

Not everyone wants to live in a big house. Actually, there could be more problems. Quite ironic huh! Sometimes "small and cozy" is the in-thing to some people.

As long as you are a salaried man, earning high pay is not a "bao chiak" precondition to buy high end properties. Cos this salary is not a life time guarantee. Global economic forces is very dynamic. It keep changing everyday. Don't be a house slave.

 

[sgcount]

Depends on which sector/industry one is in as a salaried man. Many in this forum are businessmen so they tend to to think loss of job as very likely, especially in an economic downturn. But there are many jobs out there which are pretty stable.

But yes, whatever it is, buy according to one's financial means.

I think the days of property investing is over now, unless one is very cash rich. No point investing in SG or Iskandar properties. But it's ok to buy for own use. If not staying inside but thinking mainly of renting it out, then I think it's not advisable to buy. The market is bad on both sides of the causeway, whether now or years to come due to the oversupply.

As long as you are a salaried man, earning high pay is not a "bao chiak" precondition to buy high end properties. Cos this salary is not a life time guarantee. Global economic forces is very dynamic. It keep changing everyday. Don't be a house slave.

 

[Tekkun]

Depends on which sector/industry one is in as a salaried man. Many in this forum are businessmen so they tend to to think loss of job as very likely, especially in an economic downturn. But there are many jobs out there which are pretty stable.

But yes, whatever it is, buy according to one's financial means.

I think the days of property investing is over now, unless one is very cash rich. No point investing in SG or Iskandar properties. But it's ok to buy for own use. If not staying inside but thinking mainly of renting it out, then I think it's not advisable to buy. The market is bad on both sides of the causeway, whether now or years to come due to the oversupply.

Yes, be very prudent in these trying times.
Anything below RM 1.0m, still okie for normal guys.
Between RM 1.0 - RM2.0m, have to think hard.
Above RM2.0m, have to do personal finance due diligence.

 

[rotikok]

For Singaporeans, a lot of factors determine what they will buy. $6k a month salary plus other spouse's similar salary, combined is about S$12k. (Rich by Malaysian standard?!)

With S$12k, can consider SG condo. But also depends if got kids.

Not everyone wants to live in a big house. Actually, there could be more problems. Quite ironic huh! Sometimes "small and cozy" is the in-thing to some people.

Not quite accurate, only if taken financial into consideration, not everyone wants to live in a big house. See those billionaire, they have no much financial worries, mostly stay big house, be it alone or not. Only odd is warren buffett, old home still the best home.

Yes, be very prudent in these trying times.
Anything below RM 1.0m, still okie for normal guys.
Between RM 1.0 - RM2.0m, have to think hard.
Above RM2.0m, have to do personal finance due diligence.

Actually in malaysia, anything over 1m ringgit for residential space make no much investment sense unless it is supported by location (the rich want to buy). Eg is like Sg sentosa cove, if the rich dont want to live there, hard to sell off. Malaysian standard, best is low cost for investment, (like invest HDB) low output but high return. Even general upper local market is btw rm 500K-700k, still able to find "rich" local buyer to sell or rent out. So Rm 1m, the level they set, is for "very rich local (inc sg pr)" or foreigners. Market is generally smaller, rich local buy for own stay, and rental market for this sort of high priced ppty (Rm 1m) is generally very bad and limited. Actually if there is no improvement of traffic to sg in future ie they scrap rts n hsr, many rm 1m ppty will drop back to reasonable local level.

The reason they up their bottom from 500k to a million is bcoz 500 k is is still many local level playing field. I believe future they may up their bottom again to 1.5m if local playing field able to reach a million.

 

[snowbird]

According the IPG during a press conference today : "swamped with over 40,000 applications from fresh graduates, largely Malays, for 200 inspector positions".
40,000 for 200 posts = only 1 : 200 chance and may means 39,800 fresh graduates will be still be jobless for some time.
Civil services and GLCs are still the main employer for Malays.
Times are not getting better.

 

[sgcount]

Actually what is the comfortable amount a middle class Johor professional family will pay for their property?

Is RM700k for a 2 bedroom 900-1000 sq ft condo reasonable?

In SG, I think combined income must be at least in the range of S$15-20k to buy a 3-bedroom 1,000 sqft S$1.4 million condo. This is already stretching a bit.

 

[snowbird]

Actually what is the comfortable amount a middle class Johor professional family will pay for their property?

Is RM700k for a 2 bedroom 900-1000 sq ft condo reasonable?

In SG, I think combined income must be at least in the range of S$15-20k to buy a 3-bedroom 1,000 sqft S$1.4 million condo. This is already stretching a bit.

You have to first know what is the median household income in MY.
In 2014, it was about RM6,200, maybe a little higher in 2016.
Based on this figure, a RM700K condo is totally unaffordable to a middle income family.

 

[rotikok]

Actually what is the comfortable amount a middle class Johor professional family will pay for their property?

Is RM700k for a 2 bedroom 900-1000 sq ft condo reasonable?

In SG, I think combined income must be at least in the range of S$15-20k to buy a 3-bedroom 1,000 sqft S$1.4 million condo. This is already stretching a bit.

Purely for the local who work there. 700k can buy bukit indah new phase development ady, condo is not that top of their preference. Also 800-900 psf is very high price level, only city cbd condo they will consider....bcoz this type of condo, demand is partly or mainly supported by malaysian sg PR. Always malaysian dont like live on tree.

Low cost is under 100k ringgit, medium cost is 2-300k. Sultan want to build more of this type of ppty for johorean, bank of johor will set up for this purpose. Maybe you can't understand using singaporean mentality, how come can be that cheap. Is same happen to malaysian when looking at other SEA ppty, they cant understand how come rm 50k ppty can be expensive to vietnamese, laos, or burmese ppl.

 

[sgcount]

I guess for the price of RM700k, landed is almost always the 1st choice for Malaysians?

I'm not totally familiar with a market like Johor. But I guess if one moves away from the usual places people often discuss in this forum, like Bukit Indah, East Ledang, Horizon Hills (can I say these are like Singapore's Bukit Timah, Queenstown, Novena areas?) and go into the outskirts, a landed house can be bought for RM400-500k?

I can understand how the common Malaysians view properties in their area. If the typical family can afford a RM300k house, they can't understand why RM50k is so expensive to those in other 3rd world countries like you mentioned. On the other hand, they think foreigners like Singaporeans are damn rich or crazy to pay RM1-2 mil for a house in Horizon Hills.

Over here, typical Singaporeans who live in S$400k BTO flats can't understand how the rich mainland Chinese or Indonesians can just buy a S$5 mil apartment in Orchard Road or city area, sometimes with just cash!

Purely for the local who work there. 700k can buy bukit indah new phase development ady, condo is not that top of their preference. Also 800-900 psf is very high price level, only city cbd condo they will consider....bcoz this type of condo, demand is partly or mainly supported by malaysian sg PR. Always malaysian dont like live on tree.

Low cost is under 100k ringgit, medium cost is 2-300k. Sultan want to build more of this type of ppty for johorean, bank of johor will set up for this purpose. Maybe you can't understand using singaporean mentality, how come can be that cheap. Is same happen to malaysian when looking at other SEA ppty, they cant understand how come rm 50k ppty can be expensive to vietnamese, laos, or burmese ppl.

 

[sgcount]

You have to first know what is the median household income in MY.
In 2014, it was about RM6,200, maybe a little higher in 2016.
Based on this figure, a RM700K condo is totally unaffordable to a middle income family.

No offence to Malaysians but I'm surprised the median income is only RM6,200. Moreover, it's HOUSEHOLD, not single income! That's like S$2,000 only, which is less that what a single, fresh 22 year old diploma holder earns in SG. No wonder many Johoreans want to come to SG to work, and Singaporeans move over to stretch their dollar!

So all those RM700k and above condos and landed houses often discussed here are really the game of SPRs and foreigners only? To sell them off next time, I think can only look for such like-minded, or financially equivalent buyers.

I am slowly beginning to see how limited the secondary market will be in future, what with the huge number of higher priced properties coming on board.

 

[Tekkun]

No offence to Malaysians but I'm surprised the median income is only RM6,200. Moreover, it's HOUSEHOLD, not single income! That's like S$2,000 only, which is less that what a single, fresh 22 year old diploma holder earns in SG. No wonder many Johoreans want to come to SG to work, and Singaporeans move over to stretch their dollar!

So all those RM700k and above condos and landed houses often discussed here are really the game of SPRs and foreigners only? To sell them off next time, I think can only look for such like-minded, or financially equivalent buyers.

I am slowly beginning to see how limited the secondary market will be in future, what with the huge number of higher priced properties coming on board.

No wonder I no money to buy Singapore properties.

 

[xebay11]

No offence to Malaysians but I'm surprised the median income is only RM6,200. Moreover, it's HOUSEHOLD, not single income! That's like S$2,000 only, which is less that what a single, fresh 22 year old diploma holder earns in SG. No wonder many Johoreans want to come to SG to work, and Singaporeans move over to stretch their dollar!

So all those RM700k and above condos and landed houses often discussed here are really the game of SPRs and foreigners only? To sell them off next time, I think can only look for such like-minded, or financially equivalent buyers.

I am slowly beginning to see how limited the secondary market will be in future, what with the huge number of higher priced properties coming on board.

Because it includes all races, I think if Chinese alone the median income probably is much higher.