Iskandar -- Now is the time to invest in or it's overhyped?

[Frodo]

Six years from 2013, any comments on the following news?
http://www.todayonline.com/business/avoid-malaysian-property-especially-iskandar

The writer says to avoid "for now", but I suppose that is his advice for investors. For BTO (buy to own) people, now is still a good time to get a good bargain price. Who knows once the first track is laid for HSR, things move upwards? Ok...I am being pathetically hopeful....

 

[sgcount]

Read this article to neutralize the previous one.

 

[shctaw]

Hi Frodo...

For early investors; only concern is for the property to be fully complete and the unit been hang over. Current owners whom invest a few years ago don't need to care about any negativity because new launch prices are 50%-100% higher than condos sold a few years ago.

Current buyers will (even you buy for own stay) need to pay a higher price (psf) and a few years to wait if you buy newly launch property.
Risk 1: You pay higher hence chance of making a profit is much lesser. Even price stay the same inflation and high interest will eat you up alive.
Risk 2: If you property is not well marketed and few units are sold; the developer may have problem service their bank loan and may up in bankruptcy. (a bankrupt developer does not mean the people that run it are broke. Just the company is screwed together with the owners.)
Risk 3: If you buy from a China developers; you are not only expose to risk of Malaysia and also risk of those China Developer going bust in their home country.

There are 5 zones in Iskandar. I am only interested in Zone A because I am Kiasi.
Zone B,C,D and E simply got too much undeveloped land. Some zone may get some form of success, but maybe 10-20 years later.
When I visit the showflat in other zone selling 103 years lease projects; it look more like a trap than a chance to make some good profit.

I see more cons now. I probably put my money under my mattress and wait.

The writer says to avoid "for now", but I suppose that is his advice for investors. For BTO (buy to own) people, now is still a good time to get a good bargain price. Who knows once the first track is laid for HSR, things move upwards? Ok...I am being pathetically hopeful....

 

[Frodo]

Hi Frodo...

For early investors; only concern is for the property to be fully complete and the unit been hang over. Current owners whom invest a few years ago don't need to care about any negativity because new launch prices are 50%-100% higher than condos sold a few years ago.

Current buyers will (even you buy for own stay) need to pay a higher price (psf) and a few years to wait if you buy newly launch property.
Risk 1: You pay higher hence chance of making a profit is much lesser. Even price stay the same inflation and high interest will eat you up alive.
Risk 2: If you property is not well marketed and few units are sold; the developer may have problem service their bank loan and may up in bankruptcy. (a bankrupt developer does not mean the people that run it are broke. Just the company is screwed together with the owners.)
Risk 3: If you buy from a China developers; you are not only expose to risk of Malaysia and also risk of those China Developer going bust in their home country.

I see more cons now. I probably put my money under my mattress and wait.

From what I am seeing, there are some under-construction condos that still have units available for sale at RM700K-RM800K for 3 bedders of about 1000-1200sqft, which could be before developer discounts. These are those that do not require foreigners to buy above RM1 million. Some of these condos are 70% completed and on track to finish in 2018. So for those who wish to buy a "BTO" unit in JB, my view are that these can be considered. E.g. Molek Regency, Marina Wave, Green Haven, or even the much maligned KSL Residence@Daya. :p

 

[shctaw]

Also can consider those around New York hotel.

Pinnacle is still reasonably price; and the completed Twin Galaxy.

Living near Astaka and Sky 88 may not be so bad after all.

From what I am seeing, there are some under-construction condos that still have units available for sale at RM700K-RM800K for 3 bedders of about 1000-1200sqft, which could be before developer discounts. These are those that do not require foreigners to buy above RM1 million. Some of these condos are 70% completed and on track to finish in 2018. So for those who wish to buy a "BTO" unit in JB, my view are that these can be considered. E.g. Molek Regency, Marina Wave, Green Haven, or even the much maligned KSL Residence@Daya. :p

 

[Frodo]

Also can consider those around New York hotel.

Pinnacle is still reasonably price; and the completed Twin Galaxy.

Living near Astaka and Sky 88 may not be so bad after all.

View attachment 27993

Yep! My friend bought Twin Galaxy for retirement and in a couple of years' time will be enjoying it full time. Now he enjoy part time, foretaste of things to come.

 

[Tekkun]

Got itchy fingers and paid deposit for a 1400 sq ft unit subsale last week.
This is going to be my retirement home in KL as I downsize from my present home. Next door to Empire Shopping Complex, 5 minutes walk to MRT and 5 minutes drive to Subang Medical Center. 15 minutes drive from my present house.
Fingers crossed.

 

[Frodo]

View attachment 28169

Got itchy fingers and paid deposit for a 1400 sq ft unit subsale last week.
This is going to be my retirement home in KL as I downsize from my present home. Next door to Empire Shopping Complex, 5 minutes walk to MRT and 5 minutes drive to Subang Medical Center. 15 minutes drive from my present house.
Fingers crossed.

Congratulations! Hopefully I can also develop itchy fingers in the near future. LOL!

 

[Tekkun]

Congratulations! Hopefully I can also develop itchy fingers in the near future. LOL!

Malaysia is a country of opportunities. All you need is to keep your eyes peeled.
Wishing you will have your turn for 4th or more properties.

 

[Frodo]

Malaysia is a country of opportunities. All you need is to keep your eyes peeled.
Wishing you will have your turn for 4th or more properties.

Haha! Thanks! Hope so...hope so... :p

 

[xebay11]

Malaysia is a country of opportunities. All you need is to keep your eyes peeled.
Wishing you will have your turn for 4th or more properties.

Yes but mainly for Malaysians, not foreigners, especially Singaporeans.

 

[cascadia]

Yep! My friend bought Twin Galaxy for retirement and in a couple of years' time will be enjoying it full time. Now he enjoy part time, foretaste of things to come.

surroundings are messy.

 

[Frodo]

surroundings are messy.

Probably, though it seems from the pictures they are doing some beautifying works. But perhaps you are using the word messy in a different sense.I guess for some people "everywhere" in JB Central is considered messy. For others the whole of Johor is messy, and still for others the whole Malaysia is messy. LOL!