Johor (Iskandar) Property Bubble Bursting

[Hans168]

It reminds me of BKK meltdown triggered by properties bumped up by HKG hot money n cheap US$ loans............... when the Hongkies existed many Thai left holding their balls/cunts n nursing their wounds.
In present context you need to look at million unis of ghost town houses but China is large and ccan absorb the bubble............... can Iskandar?

 

[congo9]

Country Gardens is filled with PRCs. Those who wants to be with PRCs should get a unit or two in Country Gardens.

I think a lot of malaysian want to have this property dream. Buy n wait for foreigners to rent. But JB is not like Singapore. They have a long way to go in order to attract MNC to set up shop at Iskandar. They hope to be able to get good MNC that create good job so that foreigners will work and inturn rent from them. It a good idea but kind of flawed.

Jb is still not attracting such quality investment yet and their housing price is running away like anything.

One of my close gal friend has bought a shoe box condo and hope that can rent out @Rm3500 per month. I almost burst into laughter. They are JB people and they are very naive in my opinion. Maybe the greed has get the better of them.

 

[Cerebral]

I think a lot of malaysian want to have this property dream. Buy n wait for foreigners to rent. But JB is not like Singapore. They have a long way to go in order to attract MNC to set up shop at Iskandar. They hope to be able to get good MNC that create good job so that foreigners will work and inturn rent from them. It a good idea but kind of flawed.

Jb is still not attracting such quality investment yet and their housing price is running away like anything.

One of my close gal friend has bought a shoe box condo and hope that can rent out @Rm3500 per month. I almost burst into laughter. They are JB people and they are very naive in my opinion. Maybe the greed has get the better of them.

I don't think malaysians are the bulk of the buyers

 

[Cestbon]

LTA has implemented the new toll charges for using causeway bridge coming 15 September.

Total damage just to cross malaysia will be 13 Sgd to and fro

There are no such news. Dont anyhow talk.

 

[eErotica69]

I think a lot of malaysian want to have this property dream. Buy n wait for foreigners to rent. But JB is not like Singapore. They have a long way to go in order to attract MNC to set up shop at Iskandar. They hope to be able to get good MNC that create good job so that foreigners will work and inturn rent from them. It a good idea but kind of flawed.

Jb is still not attracting such quality investment yet and their housing price is running away like anything.

One of my close gal friend has bought a shoe box condo and hope that can rent out @Rm3500 per month. I almost burst into laughter. They are JB people and they are very naive in my opinion. Maybe the greed has get the better of them.

Exactly, they are all buying a property dream. With the hope that the MNCs will move to JB and then attract foreigners to work and live in JB.

Well, they could be right. But I think for now, expectation has far exceeded realism.

 

[matx3315]

Exactly, they are all buying a property dream. With the hope that the MNCs will move to JB and then attract foreigners to work and live in JB.

Well, they could be right. But I think for now, expectation has far exceeded realism.

The situation is very likely the bubble will burst in no time. The onslaught by the Chinese developers are massive and could bring the whole property mkt to a hard crash.

 

[bigboss]

Country Gardens is filled with PRCs. Those who wants to be with PRCs should get a unit or two in Country Gardens.

Trouble follows tiongs wherever they go. They are crude, loud, arrogant and insensitive. The melayu will not like to see the tiongs behaving as if they own the whole land mass of iskander. Smart people will not buy properties where there are many tiongs in that area.

 

[eErotica69]

Trouble follows tiongs wherever they go. They are crude, loud, arrogant and insensitive. The melayu will not like to see the tiongs behaving as if they own the whole land mass of iskander. Smart people will not buy properties where there are many tiongs in that area.

Problem is the PRCs are everywhere. So how?

 

[eErotica69]

The situation is very likely the bubble will burst in no time. The onslaught by the Chinese developers are massive and could bring the whole property mkt to a hard crash.

KL and Penang properties are still ok. JB, I am concern. It may be anytime. Hopefully not!

 

[Charlie258]

KL and Penang properties are still ok. JB, I am concern. It may be anytime. Hopefully not!

It is Tiong style to force the market vertical up, then vertical down, and then to let it stay down for a time period of their choice, and then repeat the vertical up-and-down again. The older Singaporean investors who bought Shanghai condo's in the 1980's experienced this first-hand. The ones who lost their nerve when their condo lost 40% of its value sold off at a loss. The gutsy or heck-care ones just keep holding, and are in profit zone now.

 

[nitecrawllerr]

Problem is the PRCs are everywhere. So how?

Not really. Why dont they try invest in Batam island or the following:

http://www.funtasyisland.com/events.html

 

[eErotica69]

Not really. Why dont they try invest in Batam island or the following:

http://www.funtasyisland.com/events.html

Because foreigners are not allowed to own properties in Indonesia.

They can only buy using proxies.

Those who buy any properties using proxies need to know whether they really own the properties or not. Especially say they only own 49% of the proxy (while 51% are own by locals)

Just because the local lawyer who draft this proxy arrangement says that it is ok does not mean that it is 100% ok. Better clarify with the local authorities or a legal advisor.

 

[nitecrawllerr]

Because foreigners are not allowed to own properties in Indonesia.

They can only buy using proxies.

Funtasy island open to foreigners. Leasehold though.

 

[eErotica69]

Funtasy island open to foreigners. Leasehold though.

Can only for 55 years!!

Just because it is advertised that it is till 2112, does not mean that ownership is till 2112.


http://www.baliproperty.com/own_property.html


A non-Indonesian citizen cannot own land in Indonesia. However a foreigner can acquire a leasehold title to a building - almost the same as a strata title except that the title lasts only for 25 years with an extension of 30 years for a maximum of 55 years and then reverts to the original owner (lessor).

 

[nitecrawllerr]

Can only for 55 years!!

Just because it is advertised that it is till 2112, does not mean that ownership is till 2112.


http://www.baliproperty.com/own_property.html


A non-Indonesian citizen cannot own land in Indonesia. However a foreigner can acquire a leasehold title to a building - almost the same as a strata title except that the title lasts only for 25 years with an extension of 30 years for a maximum of 55 years and then reverts to the original owner (lessor).

For this project, confirm 100% sillyporeans can buy.

Understand next year they even have a special ferry daily to/fro Sillypore to Funtasy island, from HarbourFt.

Lease hold 98 yrs.

 

[eErotica69]

For this project, confirm 100% sillyporeans can buy.

Understand next year they even have a special ferry daily to/fro Sillypore to Funtasy island, from HarbourFt.

Lease hold 98 yrs.

Sorry, what does sillyporeans means? You, your parents, sibling, spouse and children are what nationality?

When the developer say that is leasehold 98 years, it is said by whom? Their solicitor who drafted this arrangement?

Think better check cos with the relevant authorities or a neutral party first.

 

[nitecrawllerr]

Sorry, what does sillyporeans means? You, your parents, sibling, spouse and children are what nationality?

Yes, can buy good. But leasehold for how many years? 55 or 99 or freehold?

Oh. I am a Sillyporean. From Sillypore. U go to the other sister forum (i am very active hum sup cheongster there) u will know where sillyporeans come from. Cos everytime come election, u know who sillyporeans voted for. But I am not among the 60.1%.

Lease till 2112. All written black and white according to the sales staff. If in doubt as to the no of years lease, i believe one can always engage their own solicitor.

I believe this kind of project tip of the iceberg. Jokowi believe in foreign investments. Properties will be open to foreigners very near future. Next...casinos.

 

[eErotica69]

Oh. I am a Sillyporean. From Sillypore. U go to the other sister forum u will know where sillyporeans come from. Cos everytime come election, u know who sillyporeans voted for. But I am not among the 60.1%.

Lease till 2112. All written black and white according to the sales staff.

I believe this kind of project tip of the iceberg. Jokowi believe in foreign investments. Properties will be open to foreigners very near future. Next...casinos.

I also not that 60.1%. Nicole Seah all the way!!! I believe that many who KPKB loudest here everyday, calling others names, come GE, they still choose to be that 60.1%.

Dun buy first, just check. Just because it written in black and white and just because it was "all these while no problem" does not imply that it is Legal Binding.

Did you ask who owns the land?

 

[nitecrawllerr]

I also not that 60.1%. Nicole Seah all the way!!! I believe that many who KPKB loudest here everyday, calling others names, come GE, they still choose to be that 60.1%.

Dun buy first, just check. Just because it written in black and white and just because it was "all these while no problem" does not imply that it is Legal Binding.

Did you ask who owns the land?

Frankly between Msia and Indon, i rather chose the former if i wish to own any properties.

I did not ask in detail cos i am not really keen. Just happen to pass by their shop on my way to funtasy island, i mean funtasy land aka Batam. Yes, we should read the fine print. Never assume things.

But i hor, 100% hardcore opp supporters. Sillypore going down the drain. Tks to the ruling party. 3 main hard core issues: FT. Housing. CPF. Enough for my blood pressure to shoot up!

 

[johnny333]

A few years ago property in JB only went for RM$500,000. Can consider but now that the norm is RM$1,000,000+ I have to wonder who will dare especially if you have to commute to Spore to work.

In Bangkok you can get a pretty good condo for $300k that is near to the MRT. A condo in Pattaya/Jomtien is much cheaper. Porbably $200k.

It's less hassle to rent a place.