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

[nextreal]

Nextreal, that's a very nice piece. I have to ask...153,582 number from?

http://napic.jpph.gov.my/portal

Click on Key Data Q2 2013.

 

[nextreal]

according to ho chin soon, pop growth is 3-5% pa in iskandar (i assume that means south johor.) page 12.

http://www.hochinsoon.com/dl/130704-FollowTheInfrastructure.pdf

Hi, I attended a talk by HCS in Aug, and he explained that 3-5% is for IM. So, you're right. For the entire Johor state, he used 1.8%, but I thought he was being optimistic (after all he was paid to give that talk).

I got the 1.8% to 1.1% from here.

http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=473&Itemid=132&lang=en

 

[ahhock24]

All investing activity is risky. But J.B.? Oh Boy!!!!! I say, good luck to you if you want to mess around with J.B. property.

Just ask anybody who invested in J.B. property in the 1970's, 1980's, 1990's.

You will get an earful!

(Granted, it is cheap. About 2 years ago, a good Condo by a "Top 3" Developer can be had for RM$300 psf. But not now. Now, you pay more than RM$600 psf for the privilege of putting your head on the chopping block.)

Bought shoplots in 1990's sold 2yrs back, 100% return, rate of return not as good.

 

[FHBH12]

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Yesterday drive pass Puteri Harbour. Counted a total of 7 person. (excluding myself) and about 6 crews at the restaurant.

Surprise to see so little people in a hype area during a Malaysia public holiday.

Go figure.

The restaurant must be very expensive.

 

[freekazoid]

Buy Iskandar should not be on rent (apply to all msia cities except klang valley). It should be about chopping that corner location for long term appreciation, a carpark to park your cheap SUV, or a storage space for that bulky baby cot you don't want to throw.

Talk about rent, say you have a high-end place at market price RM5k lease...and no one in hell going take take that. What if you take half price RM2.5k...in this case you still get a property of appreciating value in the long run and pay half the mortgage.

The thing with rental....there is always demand....price is deterrent of demand.

 

[Frodo]

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Yesterday drive pass Puteri Harbour. Counted a total of 7 person. (excluding myself) and about 6 crews at the restaurant.

Surprise to see so little people in a hype area during a Malaysia public holiday.

Go figure.

Was at The Olives restaurant that serves Indian food last Saturday night. Thought the pepper chicken was really good. Funny thing was that for dessert they just left a tub of Chocolate ice cream on the table. Ice cream becomes milkshake after a short while, from eating ice cream to drinking ice cream. LOL!

 

[ahhock24]

But for (3), lower relative price, I like to say if you want a bigger piece of the buyer's pie by targeting local Malaysians, forget about properties with value higher than RM1M. In fact, according to GIRI only 16% of locals have a budget from RM600k to RM1M. The majority 77% only has a budget of below RM600k. If you bought that RM2M bungalow, be prepared to target foreigners only.

And income remain stagnant in your forecast? Do you agree that if local income doubled, majority will afford Rm1m ppty? Price is always future price.

 

[FHBH12]

Buy Iskandar should not be on rent (apply to all msia cities except klang valley). It should be about chopping that corner location for long term appreciation, a carpark to park your cheap SUV, or a storage space for that bulky baby cot you don't want to throw.

Talk about rent, say you have a high-end place at market price RM5k lease...and no one in hell going take take that. What if you take half price RM2.5k...in this case you still get a property of appreciating value in the long run and pay half the mortgage.

The thing with rental....there is always demand....price is deterrent of demand.

You are right about warehousing. Now my JB house is like a warehouse :p

 

[sgcount]

You are right about warehousing. Now my JB house is like a warehouse :p

Wah serious ah, guys??! So you all pack your unwanted stuffs from your Singapore home and then just transport them to your JB home? So JB is like your holiday/second home?

 

[sgcount]

And income remain stagnant in your forecast? Do you agree that if local income doubled, majority will afford Rm1m ppty? Price is always future price.

But not sure if their income will increase so quickly....

Property prices in JB have been increasing in the past 1-2 years, especially last few months, but I was told rental has not. I think Malaysians do expect some "steady state" in rental and property pricing. Not sure if they are willing to so quickly change their mindsets. Already their government is trying to help them by trying to increase foreigner property levy/taxes, and even bank interest lending rates.

 

[sgcount]

You made a good deduction! I have a unit at Setia Eco Cascadia and another at Meridin@Medini.

Haha... can tell.

Meridin is good.... But prices have all increased now. Did you get it during early launch?

 

[Frodo]

Wah serious ah, guys??! So you all pack your unwanted stuffs from your Singapore home and then just transport them to your JB home? So JB is like your holiday/second home?

More like second store room. LOL!

Now I am packing up my home ready to move over. Boxes and boxes!

 

[FHBH12]

Wah serious ah, guys??! So you all pack your unwanted stuffs from your Singapore home and then just transport them to your JB home? So JB is like your holiday/second home?

Cheaper than self-storage warehouse in Singapore

http://news.asiaone.com/News/AsiaOne+News/Singapore/Story/A1Story20100628-224168.html

 

[ahhock24]

But not sure if their income will increase so quickly....

Their income will doubled based on how intense UMNO value their face (dignity) by 2020

Sometimes it makes me wonder wether who value their face more, Malay or Chinese

 

[potter]

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Yesterday drive pass Puteri Harbour. Counted a total of 7 person. (excluding myself) and about 6 crews at the restaurant.

Surprise to see so little people in a hype area during a Malaysia public holiday.

Go figure.

then u on yr radio and heard an old song..

http://www.youtube.com/watch?v=HpYyqaSYLyw

 

[sgcount]

Their income will doubled based on how intense UMNO value their face (dignity) by 2020

Sometimes it makes me wonder wether who value their face more, Malay or Chinese

Ha... anyway Malaysia said they want to be a 1st world country by 2020. They seem to be banging on Iskandar to be the one leading the way.

We'll see how successful they are by then...

 

[sgcount]

More like second store room. LOL!

Now I am packing up my home ready to move over. Boxes and boxes!

But at least yours is for moving into your new JB home right?

FHBH12: Good idea.

 

[shctaw]

The restaurant must be very expensive.

Food taste bad and too oily.

Bill for 3 pax RM69.

I will avoid eating there in future; will probably go Legoland to eat.

 

[FHBH12]

Food taste bad and too oily.

That's probably the key reason y there was only so few diners.

 

[sgcount]

Does any of you know how to calculate stamp duty for new property purchase in JB? An agent told me it's 3% of property price. Another told me it's 3% property price - RM9,000.

But I checked on website it breaks down into:

First RM 100,000 : 1%
RM 100,001 to 500,000:2%
RM 500,001 and above: 3%

So which one is correct?

To make calculation simple, assuming the website one is correct, property costs RM1,000,000. So it's RM1,000 (1% of first RM100,000) +RM8,000 (2% of RM400,000) +RM15,000 (3% of remaining RM500,000) so total is RM24,000?


And how much roughly is the annual property tax? I read it's 0.14% of property price? Thanks....