Iskandar Residences @ Medini

[Manhattan]

Yes. Totally. If you are going for a life style and can afford it, pls go ahead. Iskandar is just too much risk for investment. It has been a back water for who knows how many years, what makes you think that it can just take off like that? The fundamentals have not changed much actually.
I looked at those 2nd line cities in the world, most of them remained laid back for the past hundreds of years with property prices moved just to keep up with inflation. And Iskandar is more than likely to fall into this category.
The safest bet is to buy it as your retirement home if you like the lifestyle. SG retirement is for the super rich, mediocre folks can only live a retirement life of sustenance. In iskandar, ordinary folks have a shot to live your dream retirement life. Period.

 

[freekazoid]

mpan do you own a house? not only you dont sound like you own anything...but also like a new observer only....

 

[mpan12]

Yes. Totally. If you are going for a life style and can afford it, pls go ahead. Iskandar is just too much risk for investment. It has been a back water for who knows how many years, what makes you think that it can just take off like that? The fundamentals have not changed much actually.
I looked at those 2nd line cities in the world, most of them remained laid back for the past hundreds of years with property prices moved just to keep up with inflation. And Iskandar is more than likely to fall into this category.
The safest bet is to buy it as your retirement home if you like the lifestyle. SG retirement is for the super rich, mediocre folks can only live a retirement life of sustenance. In iskandar, ordinary folks have a shot to live your dream retirement life. Period.

Yup retirement is ok. Opportunities are there. Rent or buy depends on one's finances and preferences.

 

[mpan12]

mpan do you own a house? not only you dont sound like you own anything...but also like a new observer only....

Do I own a house? Since you say I don't seem to own anything, so be it. It's none of your business I suppose, and it doesn't contribute to the discussion.

I'm a "new observer"? Ok. If you want to put it that way. It doesn't bother me.

I say things based on how I feel and have learned. So you gotta learn to respect my views. Disagree if you want. I will respect your views too. I won't judge you, not least whether you "own a house" or if you are a "new observer".

 

[Manhattan]

Looking at the pictures... yes dead town there. Not looking good. Are there any future developments going on there? Are they building new stuffs around it that will bring in the crowd?

Just curious... why specifically in 2nd Q of 2017 the roads will be busier?

Freek thought you are a new observer probably because of this question. There's a coastal highway southern link being build now which will complete by 2nd quarter 2017. By then all traffic going to medini and PH from 2nd link can take this shortcut and save about 10km of travel 1 way. And most traffic will pass the junction where 1medini is.

 

[Tekkun]

Do I own a house? Since you say I don't seem to own anything, so be it. It's none of your business I suppose, and it doesn't contribute to the discussion.

I'm a "new observer"? Ok. If you want to put it that way. It doesn't bother me.

I say things based on how I feel and have learned. So you gotta learn to respect my views. Disagree if you want. I will respect your views too. I won't judge you, not least whether you "own a house" or if you are a "new observer".

I think we all share our views. Doesn't matter we are learning, novice or veteran.
Different financial back, different strategies.For me is very simple. Anybody who want any advice, I will give. I can't take those information along with me. I believe the more you stone, the more response you get. Good or bad is ok. We hear from the other side as well.

 

[mpan12]

Freek thought you are a new observer probably because of this question. There's a coastal highway southern link being build now which will complete by 2nd quarter 2017. By then all traffic going to medini and PH from 2nd link can take this shortcut and save about 10km of travel 1 way. And most traffic will pass the junction where 1medini is.

Then just say it lah.... Whatever Do you own a house... I think you don't own anything... you're a new observer... all these add nothing to the discussion. It's people like these in the forum that incite unnecessary hatred and attacks instead of fruitful discussions.

Coming back to the topic, the new coastal highway will be convenient indeed. But for Iskandar Residences (since this forum is related to it) and the other developments there, like 1 Medini and Medini Signature, it's still important to know what will be the amenities around that will attract.

Medini and Iskandar have big pieces of land. People will be first attracted to nearby amenities, attractions and businesses without going too far. Without these, it will remain pretty much dead as we are seeing now with 1 Medini, despite the highway.

1 Medini was fully sold out and completed months ago. They are having great difficulty moving because the location is not as favorable as the other condos and they are away from activity. So when Iskandar Residences and Signature are completed, it will be worse for these investment owners due to the tougher competition. It's even worse because I.R. owners paid their units at a much higher quantum.

 

[mpan12]

I think we all share our views. Doesn't matter we are learning, novice or veteran.
Different financial back, different strategies.For me is very simple. Anybody who want any advice, I will give. I can't take those information along with me. I believe the more you stone, the more response you get. Good or bad is ok. We hear from the other side as well.

Yes! That's the good attitude. Your advice above should be directed to Freak.

I believe this forum is open to all and pubic. Unless the admin insists it's strictly to say only good things about Iskandar, then I'll be glad to get out of here.

If I agree with what people here are saying I will say so. For eg, I think if it works out for you to live in JB but work in SG, by all means, go for it. I know some are not financially strong and they can't afford to buy bigger HDB flats in SG and lead a happy life. Then go to JB if you can if you can accommodate the new lifestyle. This is a viable mean to own a bigger home at cheaper price. I also agree if you want to retire there, it could work out.

But if I don't agree, I have nothing to hide. Why should I? It's a discussion here. I'll be frank. Like I say I won't invest in Medini cos there are too many risks there. For one reason, prices are not sustainable.

Someone already pointed out they bought their condos at a very high price of RM760 psf. It's clearly inflated. Can you fight it with other earlier owners who bought theirs so much cheaper? Who are your future buyers? What are you up against? Can you make money from your condo?

Puteri Harbour may be better if you have the money. I kinda agree with this but with conditions also, such as it's better for own stay.

There are many risks if one is trying to fully invest in Iskandar and I am sharing my views. I think many of those who know little will thank me when they chance upon this forum. They will walk away because they realize their money could be saved from being burnt or put elsewhere based on their financial profile.

On the other hand, I think others will thank some of you who praise Iskandar to the sky, such as how the whole place will HUAT. There's HSR/RTS coming up, people will start moving over, things are so cheap there... it's almost like no brainer to buy a property in Iskandar. Then go ahead! Quickly go choose a unit there before prices start climbing upwards in 2018. You can try to rent out even if it's cheap to help you pay your loan. You can get capital appreciation in future, as some of you claim.

At the end of the day, people have to take what suits them. Throw out what doesn't. It's all done in a fair discussion. We all learn.

 

[Tekkun]

Then just say it lah.... Whatever Do you own a house... I think you don't own anything... you're a new observer... all these add nothing to the discussion. It's people like these in the forum that incite unnecessary hatred and attacks instead of fruitful discussions.

Coming back to the topic, the new coastal highway will be convenient indeed. But for Iskandar Residences (since this forum is related to it) and the other developments there, like 1 Medini and Medini Signature, it's still important to know what will be the amenities around that will attract.

Medini and Iskandar have big pieces of land. People will be first attracted to nearby amenities, attractions and businesses without going too far. Without these, it will remain pretty much dead as we are seeing now with 1 Medini, despite the highway.

1 Medini was fully sold out and completed months ago. They are having great difficulty moving because the location is not as favorable as the other condos and they are away from activity. So when Iskandar Residences and Signature are completed, it will be worse for these investment owners due to the tougher competition. It's even worse because I.R. owners paid their units at a much higher quantum.

Just remember these few buzz words which I had been repeating all the time.

"Integrated", "walking distance", "support each another" and "sticking out like a sore thumb".

Analyse these words and you shall get your answer.

 

[mpan12]

Just remember these few buzz words which I had been repeating all the time.

"Integrated", "walking distance", "support each another" and "sticking out like a sore thumb".

Analyse these words and you shall get your answer.

I'm not seeking any answer. I was making statements.

I don't get what you are saying. But I shall make a guess here (since I know you are proud and enthusiastic about your PH purchase!)

Those words refer to your property in PH? It's integrated with the rest of the condos and amenities, within walking distance and they support each other. And above all, they stick out like a sore thumb because there are limited developments there.

Am I correct?

If so, fair enough. That's why I seriously question the survival of 1 Medini, Signature and Iskandar Residences as investment properties. Rather than complement each other, they are in for a tough fight and may even "slash" each other along the way.

 

[Tekkun]

I'm not seeking any answer. I was making statements.

I don't get what you are saying. But I shall make a guess here (since I know you are proud and enthusiastic about your PH purchase!)

Those words refer to your property in PH? It's integrated with the rest of the condos and amenities, within walking distance and they support each other. And above all, they stick out like a sore thumb because there are limited developments there.

Am I correct?

If so, fair enough. That's why I seriously question the survival of 1 Medini, Signature and Iskandar Residences as investment properties. Rather than complement each other, they are in for a tough fight and may even "slash" each other along the way.

Precisely. Therefore Medini condos are in for a tough time. And one has to be realistic. No condo can afford to be stand alone.
Sometime ago, I purposely posted a google map. Zoom into it, you see where the clusters are and where the amenities or F&B are.

At least if they are together, they fight for tenants. In those sore thumb ones, there's nothing to fight. No one wants to go there.

 

[mpan12]

Precisely. Therefore Medini condos are in for a tough time. And one has to be realistic. No condo can afford to be stand alone.
Sometime ago, I purposely posted a google map. Zoom into it, you see where the clusters are and where the amenities or F&B are.

At least if they are together, they fight for tenants. In those sore thumb ones, there's nothing to fight. No one wants to go there.

Yup.

There are many standalone condos in Medini. If you look around them, there are no amenities but empty plots of land. Sure, they can be developed next time. But what makes one so sure they won't develop more condos when developers become greedy again? (*Gasp!!*)

Iskandar Residences is made worse cos it is bunched up with 2 other developments, 1 Medini and Signature that were bought much cheaper. Surrounding them is no significant attraction. Just a highway that passes through.

There is also Volt Corporation just beside which will add more service apartments and well... you guessed it, more condos! That's really asking for it.

PH is more distinctive. This I have to agree.

 

[snowbird]

Precisely. Therefore Medini condos are in for a tough time. And one has to be realistic. No condo can afford to be stand alone.
Sometime ago, I purposely posted a google map. Zoom into it, you see where the clusters are and where the amenities or F&B are.

At least if they are together, they fight for tenants. In those sore thumb ones, there's nothing to fight. No one wants to go there.

Being the first to move into a newly completed condo complex is already bad enough, the quietness and lifelessness can be quite eerie.
Imagine coming back at night, driving into a big but empty carpark and walking to the lift lobby alone, taking the lift alone.......
If the condo is isolated and away from other development it will be even worse.

 

[Tekkun]

Being the first to move into a newly completed condo complex is already bad enough, the quietness and lifelessness can be quite eerie.
Imagine coming back at night, driving into a big but empty carpark and walking to the lift lobby alone, taking the lift alone.......
If the condo is isolated and away from other development it will be even worse.

Don't be sour grapes...to the very least, the owners have a unit to their name and that is worth something.

 

[xebay11]

Smart reply. Many a time I see so many people thinking JB is a land of palm oil trees still and I have given up talking to them so I can spend my time focusing on enjoying my nasi biryani at Indian Rest and stroll along PH and lastly my massage at Soul Asia which cost half the price that of Singapore and double the quality. Anyway, most of them are Singapore property agents whose income has been drastically affected by the boom of iskandar

You and Frodo can nod your heads in agreement but the fact is where is the population growth to support the growth? Even bloody microscopic red dot is overbuilt and many property units empty...what more Johor? even the best laid plans for development would crash if there is simply no population to support.

Suggest you open your eyes a bit and view some youtube videos on abandoned projects, some of them are malls in the US and beautifully developed ones at that with all the shop furnishings crumbling away due to lack of population.

Also someone stated that there are about only 5,000 Singapore families living in Johor and about 250k or more Malaysians living here, don't worry for Singapore agents, they have more than enough business to do with huge foreign influx for rentals and purchase, and their business is no way "drastically affected by the boom of Iskandar" you just see this forum alone, how many new owners? and with the RM1 million minimum purchase what boom are you talking about? 99% of the forummers here, even so bullish about Johor would not even afford or be able to buy if this requirement came in earlier. So what boom and loss of business for Singapore agents? Are you making things up?

Also many day trippers such as myself and many others I know, also enjoying nasi biryani at Indian Rest and stroll along PH and have massage at Soul Asia without even sinking 1 sen in Malaysia, yet your refer to your pleasure as some exclusive event that must be property owner then can enjoy.

 

[mpan12]

You and Frodo can nod your heads in agreement but the fact is where is the population growth to support the growth? Even bloody microscopic red dot is overbuilt and many property units empty...what more Johor? even the best laid plans for development would crash if there is simply no population to support.

Suggest you open your eyes a bit and view some youtube videos on abandoned projects, some of them are malls in the US and beautifully developed ones at that with all the shop furnishings crumbling away due to lack of population.

Also someone stated that there are about only 5,000 Singapore families living in Johor and about 250k or more Malaysians living here, don't worry for Singapore agents, they have more than enough business to do with huge foreign influx for rentals and purchase, and their business is no way "drastically affected by the boom of Iskandar" you just see this forum alone, how many new owners? and with the RM1 million minimum purchase what boom are you talking about? 99% of the forummers here, even so bullish about Johor would not even afford or be able to buy if this requirement came in earlier. So what boom and loss of business for Singapore agents? Are you making things up?

Also many day trippers such as myself and many others I know, also enjoying nasi biryani at Indian Rest and stroll along PH and have massage at Soul Asia without even sinking 1 sen in Malaysia, yet your refer to your pleasure as some exclusive event that must be property owner then can enjoy.

You are very sharp in your analysis of properties.

 

[mpan12]

Being the first to move into a newly completed condo complex is already bad enough, the quietness and lifelessness can be quite eerie.
Imagine coming back at night, driving into a big but empty carpark and walking to the lift lobby alone, taking the lift alone.......
If the condo is isolated and away from other development it will be even worse.

To be scared living in a deserted condo with few inhabitants is one thing. But on the other hand, from an investment point of view, the concern is more of how much value the condo holds.

I used to think naively, isn't it great if it's a ghost town or few people are in the condo? It means you get to enjoy all the facilities by yourself! You get privacy like you own the whole place! Wow... Shiok.

But actually it's not. Here are some things that are likely to happen:

1. Maintenance of the condo may become neglected after some time. Most of the condo investors are foreigners. They may be living very faraway and may not even be there for most parts of the year. I've already heard cases where owners are not willing to pay maintenance fees for some reasons.

2. Security concerns. It makes burglary even more likely. Security guards aren't always security guard, if you know what I mean. It has happened before, where investors leave their homes empty for many months. When they come back, all the furniture, TV and whatever little valuables are swiped clean. Sometimes, even the wires fitted in the homes are stolen!

3. Tenants or future buyers are not attracted to such condo projects. It usually means there is "something wrong" with the place. Oversupply? Location not good? No demand? Lack of ample amenities? This will certainly bring the value of the property down drastically.

If anyone wants to take reference or do a case study, a very good example is 1Medini. I urge the curious ones to go there and take a look.

It's interesting to note how when 1 Medini was launched, it was sold out very quickly, selling like hot cakes. You can read the old 2013 posts in the Medini forum to refresh your memory. It shows you how people were just rushing to buy the condos without perhaps giving the place a good thought or study. For 1 Medini, I read that most of the buyers are from Singapore, Japan, Korea and Taiwan, and maybe some Indonesians. I'm not sure if they will ever come down to stay there.

What I do know is, there are some unsuccessful desperate sales and extremely low rentals now. Maybe the owners are regretting or having cold feet now. You can infer what will happen when more of the projects in the vicinity are completed.

 

[snowbird]

Don't be sour grapes...to the very least, the owners have a unit to their name and that is worth something.

OUCH! Must have hit some raw nerves, cool down lah.
Just describing an extremely possible scenario can also be sour grapes meh?

 

[xebay11]

To be scared living in a deserted condo with few inhabitants is one thing. But on the other hand, from an investment point of view, the concern is more of how much value the condo holds.

I used to think naively, isn't it great if it's a ghost town or few people are in the condo? It means you get to enjoy all the facilities by yourself! You get privacy like you own the whole place! Wow... Shiok.

But actually it's not. Here are some things that are likely to happen:

1. Maintenance of the condo may become neglected after some time. Most of the condo investors are foreigners. They may be living very faraway and may not even be there for most parts of the year. I've already heard cases where owners are not willing to pay maintenance fees for some reasons.

2. Security concerns. It makes burglary even more likely. Security guards aren't always security guard, if you know what I mean. It has happened before, where investors leave their homes empty for many months. When they come back, all the furniture, TV and whatever little valuables are swiped clean. Sometimes, even the wires fitted in the homes are stolen!

3. Tenants or future buyers are not attracted to such condo projects. It usually means there is "something wrong" with the place. Oversupply? Location not good? No demand? Lack of ample amenities? This will certainly bring the value of the property down drastically.

If anyone wants to take reference or do a case study, a very good example is 1Medini. I urge the curious ones to go there and take a look.

It's interesting to note how when 1 Medini was launched, it was sold out very quickly, selling like hot cakes. You can read the old 2013 posts in the Medini forum to refresh your memory. It shows you how people were just rushing to buy the condos without perhaps giving the place a good thought or study. For 1 Medini, I read that most of the buyers are from Singapore, Japan, Korea and Taiwan, and maybe some Indonesians. I'm not sure if they will ever come down to stay there.

What I do know is, there are some unsuccessful desperate sales and extremely low rentals now. Maybe the owners are regretting or having cold feet now. You can infer what will happen when more of the projects in the vicinity are completed.

Chilling to the max but highly likely for many, many new developments, good luck all!

 

[Tekkun]

Chilling to the max but highly likely for many, many new developments, good luck all!

Ship hull scared of ghosts, ship stern scared of bandits. How to sail?