Economic News

[cow138]

Just a curious question, how much do you think you need to have to be comfortable investing in Johor?
Rentals are good to have, condos are fun but if you've neighbours doing Air BNB I don't think you would like to stay there too much..
It would be like a hotel with strangers moving in and out regularly.. Also condo maintenance in Johor is yet to be tested..

 

[Frodo]

Just a curious question, how much do you think you need to have to be comfortable investing in Johor?
Rentals are good to have, condos are fun but if you've neighbours doing Air BNB I don't think you would like to stay there too much..
It would be like a hotel with strangers moving in and out regularly.. Also condo maintenance in Johor is yet to be tested..

But investors won't be staying in their investment properties, right? And some JB condos are still giving promotions to get buyers, so I reckon it may not take much, maybe just the booking fee which could be RM2000.

 

[Frodo]

Australia has very affordable fresh produce, very economical and healthy if you cook yourself. That's what most Aussies do too.

Yes, we realised that the last time we were there for a 3 weeks vacation. We bought from Woolsworth or Coles and cooked our own meals. But I love eating out in JB.

 

[Frodo]

S$300k can get you a JB terrace house, in Oz you get only a 1 room apartment in Melb for the same amount which is about 600 sq ft.

But that's provided one has $300K on hand to use. For me if I have that money I would rather buy a JB condo with a loan, put the money in current account so no interest to pay, rather than use that for just a 1/3 payment on an Australia condo and have A$700K debt to service.

 

[rotikok]

http://www.news.com.au/finance/real...y/news-story/1c1ccd51cf863393eb24fe45542ed269

The Chinese prefer US, Canada and OZ and know value when they see it, cementing my decision to buy in Melbourne, most livable place to live 5 years in a row.

Your daughter work and reside over there explained your affiliation to the place. If not, old wisdom will still be true, where ever chinese goes, one need to be avoided. Pure investors (nonPR), can only buy new launch or build new one to own. Meaning the more PRC go melb to invest and not coming to stay, they will increase the housing supply, Aussie gov are clever in this sense. Be careful on CBD apartment, u are guru, u shud know what going to happen.

28 year old can buy S$2.6m condo. She must be paid very well to qualitfy for loan.

Her husband want to divorce her...so shud be her husband kena more. Maybe if is her money, she will b more careful.

OZ properties is 3x more expensive than JB. So forgoing buying in JB to save peanuts in RM to buy into Oz in AUD is just not possible unless you have plenty reserves in the bank.

Even if you bought in australia, are you eligible to stay there long term? Beside those close kins type allow to long stay, buy PR need AUD 5m....and nowadays doctor dentist gynae accountant all goin kena kick out from the PR list. Professional kalang guni is welcomed.

 

[rotikok]

If want landed property, sgd400k can get a 4 bedroom house on freehold 400meter square landed in melbourne. Not in central but 30 mins train ride to Southern cross station. Yes, 400 meter square, Size of a basketball court, double the land size of a terrace house in jb. May seem too big, but it's a standard size in oz.

Mind to tell me where exactly 400m2 4 bd 30 min via train located? Appreciated. My estimation is median 600k min in those average place within 30 min train distance but smaller than size, 200-300m2. Things you said shud b an hour away from CBD.

This Adeline Tay must be the stupidest woman in the whole wide world if this story is true.
Even an uneducated auntie would know something about current property price and paying 3 times higher, Adeline takes the crown for dumbness.
Too many flaws in this dumb fiction to be true.

She is singaporean, dont forget. Dont need to be so mean, many more singaporean will fell hurt.

But that's provided one has $300K on hand to use. For me if I have that money I would rather buy a JB condo with a loan, put the money in current account so no interest to pay, rather than use that for just a 1/3 payment on an Australia condo and have A$700K debt to service.

Nah, his suggestions only brag about he able to stay in australia. Is a rich man retirement place, want stay there do nothing, makan out ady make you poor. Nowadays want to stay there young and work as a professional also getting harder, they need professional labour ppl, like carpenter, plumber. No close kins, buy $5m PR lor, PRC are lining up to do so. What other PR visa you can use? So how feasible is his 'investment advise' when he take no investment reality into senses?

 

[Tekkun]

But that's provided one has $300K on hand to use. For me if I have that money I would rather buy a JB condo with a loan, put the money in current account so no interest to pay, rather than use that for just a 1/3 payment on an Australia condo and have A$700K debt to service.

Not so easy to buy leh.
---------------------------------------------------------
Westpac withdraws from real estate lending to foreigners

By business reporter Elysse Morgan
Updated 27 Apr 2016, 2:32pm

It is the third major bank to clamp down on lending to non-residents, home buyers with foreign self-employed income and those who hold temporary visas in Australia.Westpac Bank and its subsidiaries are no longer lending money to foreigners wanting to buy residential property.

ANZ and the Commonwealth Bank moved earlier this month.
NAB said its current rules for non-resident buyers stipulate that they must be employed, not self-employed or shareholders, must be met face-to-face and will only be lent up to 70 per cent of the value of the property.

Westpac's new rules are similar to the other banks.
From 26 April it will no longer permit any lending to a non-resident, even if the applicant's income is not relied on to meet serviceability.

http://www.abc.net.au/news/2016-04-27/westpac-withdraws-from-real-estate-lending-to-foreigners/7364398

 

[Frodo]

Not so easy to buy leh.
---------------------------------------------------------
Westpac withdraws from real estate lending to foreigners

By business reporter Elysse Morgan
Updated 27 Apr 2016, 2:32pm

It is the third major bank to clamp down on lending to non-residents, home buyers with foreign self-employed income and those who hold temporary visas in Australia.Westpac Bank and its subsidiaries are no longer lending money to foreigners wanting to buy residential property.

ANZ and the Commonwealth Bank moved earlier this month.
NAB said its current rules for non-resident buyers stipulate that they must be employed, not self-employed or shareholders, must be met face-to-face and will only be lent up to 70 per cent of the value of the property.

Westpac's new rules are similar to the other banks.
From 26 April it will no longer permit any lending to a non-resident, even if the applicant's income is not relied on to meet serviceability.

http://www.abc.net.au/news/2016-04-27/westpac-withdraws-from-real-estate-lending-to-foreigners/7364398

Looks like impossible to buy unless cash buyer.

 

[cow138]

With the huge impending supply of condo in Johor, it would be very difficult to justify it as an investment purchase.
Not too sure how people are going to monetize it.

 

[Frodo]

With the huge impending supply of condo in Johor, it would be very difficult to justify it as an investment purchase.
Not too sure how people are going to monetize it.

Take it as long term investment. Or else stay in JB condo and monetize HDB by renting it out, which may be a viable option for some people, as I shared earlier.

 

[Tekkun]

With the huge impending supply of condo in Johor, it would be very difficult to justify it as an investment purchase.
Not too sure how people are going to monetize it.

Johor is for own stay or long term holding for CA.
Not a place for flippers or anyone who want to make quick money out of it.
The only justification I can see is like " buy and keep the title in the drawer" and pay slowly, painfully but surely in the end it belong to you. Whether it is worth the paper or huat, just leave it to fate come whatever may.

If you don't buy, your hands get itchy with liquid cash and you tend to do all sorts of things beyond imagination

 

[rotikok]

With the huge impending supply of condo in Johor, it would be very difficult to justify it as an investment purchase.
Not too sure how people are going to monetize it.

Condo is only one of many types of ppty, why must be condo? Landed cannot meh? Not sure how possible but buy in mature area with land huge enough to justify your one million ringgit investment. Surely local will be interested with what you bought in future. Condo is simple la, management etc all got ppl gaodim for u, easy thing cant make money de.

 

[xebay11]

Not so easy to buy leh.
---------------------------------------------------------
Westpac withdraws from real estate lending to foreigners

By business reporter Elysse Morgan
Updated 27 Apr 2016, 2:32pm

It is the third major bank to clamp down on lending to non-residents, home buyers with foreign self-employed income and those who hold temporary visas in Australia.Westpac Bank and its subsidiaries are no longer lending money to foreigners wanting to buy residential property.

ANZ and the Commonwealth Bank moved earlier this month.
NAB said its current rules for non-resident buyers stipulate that they must be employed, not self-employed or shareholders, must be met face-to-face and will only be lent up to 70 per cent of the value of the property.

Westpac's new rules are similar to the other banks.
From 26 April it will no longer permit any lending to a non-resident, even if the applicant's income is not relied on to meet serviceability.

http://www.abc.net.au/news/2016-04-27/westpac-withdraws-from-real-estate-lending-to-foreigners/7364398

That's why must make your family members Australian. OZ also not very foreign investor friendly.

 

[Frodo]

That's why must make your family members Australian. OZ also not very foreign investor friendly.

Wah..wouldn't that be a bit extreme to give up SG citizenship just to invest in Australia?

 

[Tekkun]

Wah..wouldn't that be a bit extreme to give up SG citizenship just to invest in Australia?

No need change citizenship.
Just those with residence visa will do and buy for own stay also can.
Only problem is exit plans not so attractive as property can only be sold to locals.

Foreigners have to buy from new projects. Secondary market cannot.

 

[potter]

Wah..wouldn't that be a bit extreme to give up SG citizenship just to invest in Australia?

Lang si 2.6m dollars man.. just play our own game and eat lollipop.

 

[xebay11]

Wah..wouldn't that be a bit extreme to give up SG citizenship just to invest in Australia?

Not give up, bypass Singapore citizenship from birth, my daughter SPR and OZ citizen.

 

[potter]

This Adeline Tay must be the stupidest woman in the whole wide world if this story is true.
Even an uneducated auntie would know something about current property price and paying 3 times higher, Adeline takes the crown for dumbness.
Singtel should sack her immediately for her stupidity if not one day, as a senior manager, she may do serious damage to the company for being so dumb.
So she quietly went to buy a property without informing her dear husband, otherwise how could they be having strained relationship if hubby actually agreed too?
Too many flaws in this dumb fiction to be true.

she beLIEves her agent. :p

 

[Tekkun]

she beLIEves her agent. :p

She expect us to believe her? Lol

 

[snowbird]

she beLIEves her agent. :p

You believed that dumb story?