Iskandar Residences @ Medini

[westman]

my Nusa Sentral Taman in good hand and good progress.....can't wait to have a different feel at Iskandar Residence!

Cool.. you planning to stay in Medini and work in SG?

 

[comfy]

Hi Westman, probably not staying in JB.....really for longer term investment.......as I see the room for property in Singapore is getting smaller and limited..:(

Cool.. you planning to stay in Medini and work in SG?

 

[westman]

Hi Westman, probably not staying in JB.....really for longer term investment.......as I see the room for property in Singapore is getting smaller and limited..:(

Maybe you will change your mind...

 

[westman]

Developer just updated the site progress via their facebook.

Search for distinctive group in facebook.
They seem to be updating once every two weeks.

Tower A reaching level 6 (level 10 if include carpark levels)
Tower B reaching level 3 (level 7 if include carpark levels)

Seem to progress 2 levels per month..

 

[sgcount]

The completed 1 Medini has many units selling cheaper than IR:

http://www.propertyguru.com.my/property-for-sale/at-1medini-1983

Anyone knows how the rental situation is at 1 Medini now?

 

[Scissors]

Hi all, have you all start interest payment through bank already? Have you received any letter stating to start paying? I did not received any letter yet? Is that normal? By the way I have not open malaysia ocbc saving account yet, planning to do so coming December. So was that the reason i never received notice? Was afraid i will incurred penalty on that late payment.

 

[FHBH12]

Normally the bank will force you to open an account with them upon loan approval so that the installments can be deducted from it.

Before a disbursement from the bank, your law firm will copy you a letter to the bank to release the draw down sum. So your case is very odd and you need to check with your law firm.

 

[Scissors]

Yes i agreed too. Bank representative told me that if they have not reach building to my floor, they will not activate the loan payment. But i will still contact the developer to confirm the payment again. Thanks for the reply and i will update here if i have the developer reply.

 

[westman]

Yes i agreed too. Bank representative told me that if they have not reach building to my floor, they will not activate the loan payment. But i will still contact the developer to confirm the payment again. Thanks for the reply and i will update here if i have the developer reply.

Yes.. you only pay when your parcel built. After that.. you have to start servicing interest...

 

[Investor888]

No offence to Medini 1 Owners but if they indeed want to sell in this ailing market ( Singapore and Iskandar are in bad mess currently ), they should aim for RM400psf to offload it. If they can hold for another 10 years, they should be in for a surprise, given the rise of Medini and Nusajaya.

 

[westman]

Update... developer just updated their bi-weekly construction progress in Distinctive Facebook.


For the first time, they updated interior construction progress at level 1 n 2, type E and F units. Nice update.

Visit their facebook to have a look...

Nice.

 

[comfy]

Hi I heard recently there is a transaction at IR which sees a profit for owner near 100K Ringgit....anyone knows if there is any FB or chatsgroup for IR Owners?

 

[comfy]

Update... developer just updated their bi-weekly construction progress in Distinctive Facebook.


For the first time, they updated interior construction progress at level 1 n 2, type E and F units. Nice update.

Visit their facebook to have a look...

Nice.

Can share the link for FB?
Thanks again!

 

[mpan12]

Hi I heard recently there is a transaction at IR which sees a profit for owner near 100K Ringgit....anyone knows if there is any FB or chatsgroup for IR Owners?

Who you heard it from? Hearing all these rumours is dangerous. If a father buys the condo for RM700k, then scams his rich son by selling it for RM800k, maybe that counts for the RM100k profit? Anyway, that's internal selling.

The condo is not even completed, how to sell?

And at this point of huge oversupply of condos in Iskandar, especially in Medini, anyone will be insane to pay RM100k extra.

 

[westman]

Can share the link for FB?
Thanks again!

Here you go...

https://www.facebook.com/DistinctiveGroup

 

[comfy]

Who you heard it from? Hearing all these rumours is dangerous. If a father buys the condo for RM700k, then scams his rich son by selling it for RM800k, maybe that counts for the RM100k profit? Anyway, that's internal selling.

The condo is not even completed, how to sell?

And at this point of huge oversupply of condos in Iskandar, especially in Medini, anyone will be insane to pay RM100k extra.

This was shared with me recently by the developer's office.....Prices remains firm and same, guess we made some from the previously discounted prices??

Kindly refer to below for further details:-

Type Build up (sq. ft) Selling Price from
B/B1 1055 RM 946,500 ++
C 1249 RM 1,087,800 ++
C1 1356 RM 1,300,100 ++
C2 1259 RM 1,068,800 ++
D 1765 RM 1,528,000 ++
E 1455 RM 1,277,600 ++
F 1561 RM 1,353,800 ++
F1 1668 RM 1,474,900 ++
G 947 RM 893,700 ++
G1 958 RM 849,300 ++


Warmest Regards,

Distinctive Group

 

[westman]

This was shared with me recently by the developer's office.....Prices remains firm and same, guess we made some from the previously discounted prices??

Kindly refer to below for further details:-

Type Build up (sq. ft) Selling Price from
B/B1 1055 RM 946,500 ++
C 1249 RM 1,087,800 ++
C1 1356 RM 1,300,100 ++
C2 1259 RM 1,068,800 ++
D 1765 RM 1,528,000 ++
E 1455 RM 1,277,600 ++
F 1561 RM 1,353,800 ++
F1 1668 RM 1,474,900 ++
G 947 RM 893,700 ++
G1 958 RM 849,300 ++


Warmest Regards,

Distinctive Group

Sweet.. glad they are holding the price to protect the buyers..

Btw the developer very on.. every 2 weeks update once with photo since august this year.

Tower A reached level 9 or level 13 if includes 4 levels of carpark floors

 

[mpan12]

Maintaining the pricing is one thing but I think more importantly is whether there are buyers for those leftover units, especially during this glut market.

Honestly, the pricing is way too high. I wonder how they are going to sustain it. For such pricing, if I would like to buy something, I'd rather go to Puteri Harbour. (Not that I am interested though.)

From what I gathered, most are foreign buyers. The Japanese who were supposed to buy a lot of units, returned them. Could have other buyers pulling out also. Seems quite a handful of units still unsold.

 

[westman]

Maintaining the pricing is one thing but I think more importantly is whether there are buyers for those leftover units, especially during this glut market.

Honestly, the pricing is way too high. I wonder how they are going to sustain it. For such pricing, if I would like to buy something, I'd rather go to Puteri Harbour. (Not that I am interested though.)

From what I gathered, most are foreign buyers. The Japanese who were supposed to buy a lot of units, returned them. Could have other buyers pulling out also. Seems quite a handful of units still unsold.

The japanese buying story is just a marketing myst and it is pure bullshit in my opion. When I was told whole tower B units were booked by Japanese, i brushed it aside as i knew that cannot be real.

 

[mpan12]

The japanese buying story is just a marketing myst and it is pure bullshit in my opion. When I was told whole tower B units were booked by Japanese, i brushed it aside as i knew that cannot be real.

Hmmm... Now that you mentioned it, that's possible. I forgot that anything can happen in Malaysia!

I remember this Japanese buying whole tower news created quite a frenzy at the Huttons office in Singapore. People thought this was a hot property investment like many other Iskandar developments and many rushed to buy. I heard even Huttons agents themselves were greedy and bought up several units hoping to flip them.

The developer must have done all their calculations. The amount of money invested into IR by buyers must be sufficient for them to maintain the very high pricing for the remaining unsold units. They're hoping to catch some unsuspecting foreigners to buy. But I'm pretty sure hardly anyone will buy them. Too much supply in Iskandar for many years and overpriced.

Worst case, if RM drops further or the developer faces financial constraints, next solution is to cut corners on the design of the condo and give lower quality materials inside. Just happened to 2 recently completed condos in JB.