Living in JB 2 (Johore)

[contra]

Hi bros and sis,
I am intrigued by the advertisement in today's Straits Times by Somerset Puteri Harbour "starting from SGD$290k" freehold. I like the idea of it being near the new ferry terminal / CIQ that goes direct to Harbourfront.

Has anyone visited this and can share the costs? How will it work? Buyer own and Somerset runs it like a hotel, ie pure investment instead of personal use? As run by Somerset, monthly maintenance fees should be expensive but should be recoverable by the brandname of Somerset. Any idea how much?

 

[abugumgum]

Reminders to all bros to be ever vigilant in JB.

My colleague had his car's rear window smashed just 2 weeks ago. This did not happen in some dark alley way or obscure parking lot. It happened right in his secured condo grounds! And this is not some 3rd class condo in JB. In fact it is one of the more reputable ones with loads of expats. The wire fence of the compound was cut through. His laptop was taken. Cost to replace rear window - RM1200. Fortunately, both items insured.

What audacity!.

cheers.

Indeed, if it happens, it happens, even if one has taken safety precautions. :(

 

[yonglip]

Hi Bro, can give us some clues where this condo is located?

haha bro, in JB there are only a handful of reputable condos with loads of expat..

cheers.

 

[TrulyAsia]

50:50 ~ Molek Pine or Straits View @ Permas

haha bro, in JB there are only a handful of reputable condos with loads of expat..

cheers.

 

[Qube3]

Hi bros and sis,
I am intrigued by the advertisement in today's Straits Times by Somerset Puteri Harbour "starting from SGD$290k" freehold. I like the idea of it being near the new ferry terminal / CIQ that goes direct to Harbourfront.

Has anyone visited this and can share the costs? How will it work? Buyer own and Somerset runs it like a hotel, ie pure investment instead of personal use? As run by Somerset, monthly maintenance fees should be expensive but should be recoverable by the brandname of Somerset. Any idea how much?

Hi, prices start from MYR850psf, freehold, no foreigner cap or local ownership restrictions and out of 8 stacks, 5 are sold on compulsory leaseback to Somerset on 10year lease agreement. 1 stack will be held back by Somerset and developer holds back another 2 (which are the two best ones facing the harbour and may be sold later for purely residential).

First two years after completion are 5% guaranteed minimum net return with additional profit share based on purchase value so if there is upside then yield may be more. The remaining 8 years you are at risk. All units are technically designed with Ascott`s design and come fully furnished.

I believe Somerset will need to generate a gross yield of about 10-11% gross yield to return investors about 5%nett which should be achievable. That means a one bedder at 7-8k rental a month. Check out their rates in SomersetAmpang, Seri Bukit Ceylon and you will see what I mean.

There will be a temporary CIQ built nearby before a permanent structure with convention halls built in the future.

Good luck

 

[arsenal]

I think this is getting messy.. You might consider cut loss if it is $5krm..and buy direct from developer or with some trusted agent in future..

Until today my lawyer appointed by HH still haven't done my deed transfer even I have collected my key few months ago.. I don't understand why..is that normal?

Hi Bros,

This is my 1st post and it is a post to seek help and advice from those who bought sub sale unit in Horizon Hills.

Here is my nightmare experience so far:

mid dec
- lady P who works for developer informed me there is a subsale terrace unit available @ the golf
- seller's asking prize 600k (based on valuation)
- my wife loved it, the only stumbling block was no price negotiation allowed, P said must follow valuation and i cannot view valuation report
- P also said no need to pay agent's fee, not entitled to house warranty and club membership
- P said I must choose lawyer assigned by them and she will recommend me the best and most reliable one
- Family crisis back in s'pore pushed us to sell s'pore home and commit to jb house as we need a temporary and weekend home anyways
- P instructed me to cut S$5k cheque directly to seller, instead of law firm
- P said the whole process take 3-4mths and I can expect to collect keys in Feb
- I reminded P although i expected slight delay in collecting keys, my family cannot wait longer than March
- Lawyer did not show up yet

end dec
- turns out P only submitted my loan application to standard chartered bank, which gave me a lower loan 75%
- after chasing P, she gave me other bank contacts to resubmit loan application to HSBC, Allianz, UOB, which took up a few more weeks
- lawyer did not show up yet

jan
- loan with uob approved 85% which i accepted
- however, valuation is 580k not 600k stated by P
- seller issued warning to my lawyer that if SPA still not signed he will forfeit my 5k deposit, he is getting anxious just like me
- lawyer's assistant finally emerged and emailed to seller and cc to me
- apparently, the lawyer still on holiday and only back on 8 Feb, must wait for his return to sign SPA
- i issued warning that SPA cannot miss deadline, demanded for a copy for review, no reply from law firm
- i am getting agitated and contemplating changing lawyers, also threatened to seek damages if i cannot move in by Mar

Feb
- seller knew i need to move in Mar, offered to rent empty shell home to me @ RM1500 (instead of market rate RM1800)
- i began to feel uneasy about the deal and confronted P who replied "seller is her rightful customer, she has nothing to gain from me, i should appreciate her help"
- lawyer finally came back from holiday, i spoke to him for the first time since he took up my case in dec
- he sounded incoherent over the phone and said seller requested a few amendments so he need time to amend for seller's lawyer
- he could not answer me when i ask why he never respond to my email, why simple amendment took so long to complete?
- he never ask me whether I wish to state any special conditions to seller, I am fully convinced he was never acting in my interests
- he also replied tersely "dont push the blame to me"
- i took the signal and axed the lawyer immediately, fortunately through UOB banker I found a reliable panel lawyer who arranged for a meeting with his team next Mon

Questions:

a. can i take action against P or the axed lawyer for costs incurred due to late move in (ie. rental of temporary home, misrepresenting valuation price)
b. uob banker say i must pay for the valuation report, is this the norm?
c. what special conditions should i state to further protect my interests in the SPA?
d. In dec, seller verbally agreed to allow me early move in for reno before completion, but now change tune and want me to pay rent upon hearing my circumstances, is this fair?
e if seller disagree, the deal goes south or he refuse to extend deadline for SPA and forfeit my 5k, can i sue him or the axed lawyer for the forfeited cash?
f. anyone faced similar frustrations before in sub sale deals, any stories to share here?

Many thanks in advance.

 

[LGLab]

Bro Wuqi must be extremely busy. May be you could try these 2 links, could give you some extra info you need?
1)http://debbielim.hubpages.com/hub/Hiring-Maid-Procedures-and-Guidelines-In-Malaysia
2)http://expat-underground.com/category/maid-in-kl/

hey, thanks.. i will read thru them..

 

[yonglip]

Hi, prices start from MYR850psf, freehold, no foreigner cap or local ownership restrictions and out of 8 stacks, 5 are sold on compulsory leaseback to Somerset on 10year lease agreement. 1 stack will be held back by Somerset and developer holds back another 2 (which are the two best ones facing the harbour and may be sold later for purely residential).

First two years after completion are 5% guaranteed minimum net return with additional profit share based on purchase value so if there is upside then yield may be more. The remaining 8 years you are at risk. All units are technically designed with Ascott`s design and come fully furnished.

I believe Somerset will need to generate a gross yield of about 10-11% gross yield to return investors about 5%nett which should be achievable. That means a one bedder at 7-8k rental a month. Check out their rates in SomersetAmpang, Seri Bukit Ceylon and you will see what I mean.

There will be a temporary CIQ built nearby before a permanent structure with convention halls built in the future.

Good luck

Its a good location. but at this price, they have already priced in most of the upside in the near term. There will be loads of developments rolling out soon in the vicinity, i think can still wait and see. For me, i am more keen in medini side..where barriers to entry is lower due to 99 years. but from a purely rental income standpoint, there is actually no diff between 99 and freehold.

 

[jasonjst]

I think this is getting messy.. You might consider cut loss if it is $5krm..and buy direct from developer or with some trusted agent in future..

Until today my lawyer appointed by HH still haven't done my deed transfer even I have collected my key few months ago.. I don't understand why..is that normal?

Bro Arsenal ,Aperfectcircle0,
I think is quite a norm that people seem to be taking " their own sweet time " to do simple documentation works that take a few days in Sg while they take months . No point " shouting " and chasing them everyday, you only make things worst or even get out of hand. Most likely the adminstrators , your sales guys already done what is best for you , the higher level people / policies are creating the bottle neck . Not that you need the house in March , they will complete the sales transaction just for you . 6mths is consider very fast alreadly , 1yrs is quite a norm lah . Seller offer to rent house is a great help already , 1.6K for 600K house is below market rate liao bro ! Many years back my seller charged me S$6K (full market rate) for rental of his shop while we were waiting for banks / lawyers to clear the documentations . It is a give and take situation bros, rent the house from the seller , enjoy your stay while you wait for them to clear the paper work . You need to adjust you expectation a little living in JB.

 

[maxpark]

Bro Arsenal ,Aperfectcircle0,
I think is quite a norm that people seem to be taking " their own sweet time " to do simple documentation works that take a few days in Sg while they take months . No point " shouting " and chasing them everyday, you only make things worst or even get out of hand. Most likely the adminstrators , your sales guys already done what is best for you , the higher level people / policies are creating the bottle neck . Not that you need the house in March , they will complete the sales transaction just for you . 6mths is consider very fast alreadly , 1yrs is quite a norm lah . Seller offer to rent house is a great help already , 1.6K for 600K house is below market rate liao bro ! Many years back my seller charged me S$6K (full market rate) for rental of his shop while we were waiting for banks / lawyers to clear the documentations . It is a give and take situation bros, rent the house from the seller , enjoy your stay while you wait for them to clear the paper work . You need to adjust you expectation a little living in JB.

Bro, you're better assimilated than most, kudos!

It is indeed important to temper the expectations, otherwise, please remain in Singapore.

 

[Sanur]

Bro, you're better assimilated than most, kudos!

It is indeed important to temper the expectations, otherwise, please remain in Singapore.

Totally agree, at times we especially Singaporeans need to remind ourselves to understand n respect another country culture. I sees us, complaining in supermarket queues when their local are queuing just the same without complaining. Am not directing at anyone here, speaks of myself... Hehe

 

[arsenal]

Singapore and Malaysia police standard ... getting close.. so why pay more???

----------------------------------------------------------------
Inefficient, Ineffective, Slow Police Force and Legal System?
Mr Liew suffered the worst injuries with a broken nose and a deep gash on his forehead. He also suffers from post-traumatic stress disorder and attends monthly therapy sessions with a psychiatrist. “Whenever I look into the mirror, the scar is there. It’s a constant reminder”, he expresses, “I also have to make sure I don’t hurt anyone through my actions. I have to be anal about myself in controlling my emotions.”
Being attacked from behind has also had its own ramifications for Mr Liew. He says that he cannot bring himself to enter crowded elevators and that if he has to enter one, he turns around and makes sure the door faces his back, “I need to physically place my back on a wall. I cannot have people standing behind me.”
As an undergraduate of an Australian university, Mr Liew also talks about the difficulties of adapting to a new environment, especially amongst Caucasians. “I have to face new people. I have to face Caucasians. I cannot have any prejudices because of this”, he says openly.
However, both Mr Liew and Mr Wong attest that these repercussions are minor compared to the inefficient and ineffective manner the police force and legal system have handled the case.
Mr Wong reveals that despite making three phone calls to the police throughout the duration of the attack, the cops only arrived after the ambulance, about an hour later. Mr Liew, who was almost unconscious due to his head wounds, adds that he only remembers opening his eyes once and seeing the ambulance take a wrong turn.
Mr Wong further mentioned that the investigating officer (IO) acted insensitively and more importantly, unprofessionally. He said that the IO seemed quite unconcerned in his investigations and did not put in enough effort in taking the statements of bystanders who were still in the vicinity.
It was almost a week before Mr Wong and company heard from the IO again and when they finally did speak to the officer, it was only to be told that there were no conclusive leads.
A frustrated Mr Wong took it upon himself to catch the unprovoked assailants. He managed to uncover their identities after an amateur investigation spanning two hours. “They were obviously coming from a charity event! They were wearing suits!” exclaims Mr Wong, “I found pictures and names within two hours. I don’t know how an investigating officer can take a week to do something and still not come up with answers especially when that is their job.”
The investigation officer’s reaction was one of casual nonchalance. According to Mr Wong, the IO claimed that the police force is short of manpower and that they handle an average of forty cases a month. “How is this my problem!”, Mr Wong asks.
Mr Wong and company have been playing a waiting game since then. Frustrated at the lack of swift action, they decided to inform the people via the press.
“Our disappointment has stemmed from the accident site itself”, Mr Liew interjects, “I could have died that night, can I be blamed for being upset?” Mr Liew asks. The assessment that the police force use their own prerogative to prioritise cases only adds salt to the wound.
“We have been conscientious about not hindering proceedings. We only want justice to be served. But it has only been disappointments upon disappointments upon disappointments”, laments Mr Liew.
Mr Liew recounted that it was months before their statements were submitted to court and that even that was only done after much coaxing. “We trust the authorities to do their job. But nothing is being done! What else do we need to do.”
The lack of accountability and transparency is another sore point for the victims. They were apparently told that the case is being handled by the IO, then the AG, and then by the ministry of foreign affairs. “I am still chasing after them while in Australia”, Mr Liew confirms, “I don’t have any benefits from this. I don’t want a story. All I want is accountability.”
It took fifteen months for the case to get to the courts. Fifteen months filled with headaches and roadblocks and justice has still not been served. “You have facts! What is holding you back?”, Mr Liew questions, “I don’t want to speculate, but why is it stagnating?”
“It has been a year and three months and you know everything about the case- A to Z. So what is happening? What are the extra ingredients that require expedited justice? It is not rocket science.”, he opines.
Mr Springall sped away again in December 2011, unbeknownst to the victims of his violent crime. Perhaps to join his co-assailant Mr Robert Stephen Dahlberg, in greener pastures safe from the long arm of Singaporean law enforcement.

 

[arsenal]

Wow.. standard drop.. day by day.. why pay more?

-------
Internet prostitution syndicate – Former principal of renowned school being investigated..

A former principal from a well known school who has been in the education field for 15 years is being investigated in connection with a suspected internet prostitution syndicate. Including the principal, about 80 people (including senior civil servants) are being investigated. The civil servants are from various government departments.
----

 

[contra]

Hi, prices start from MYR850psf, freehold, no foreigner cap or local ownership restrictions and out of 8 stacks, 5 are sold on compulsory leaseback to Somerset on 10year lease agreement. 1 stack will be held back by Somerset and developer holds back another 2 (which are the two best ones facing the harbour and may be sold later for purely residential).

First two years after completion are 5% guaranteed minimum net return with additional profit share based on purchase value so if there is upside then yield may be more. The remaining 8 years you are at risk. All units are technically designed with Ascott`s design and come fully furnished.

I believe Somerset will need to generate a gross yield of about 10-11% gross yield to return investors about 5%nett which should be achievable. That means a one bedder at 7-8k rental a month. Check out their rates in SomersetAmpang, Seri Bukit Ceylon and you will see what I mean.

There will be a temporary CIQ built nearby before a permanent structure with convention halls built in the future.

Good luck

Wow quite a good model for buyer and Somerset. Shared risks. One key assumption I guess is Nusajaya really takes off and expats and visitors will want to stay in upmarket service residences. This the key risk. But location location location is super good with ferry CIQ....cuts out traffic jams, tolls & need for Singapore-plated cars. Got to think more as price certainly quite steep. Thanks bro.

 

[Diaspora]

Hi, prices start from MYR850psf, freehold, no foreigner cap or local ownership restrictions and out of 8 stacks, 5 are sold on compulsory leaseback to Somerset on 10year lease agreement. 1 stack will be held back by Somerset and developer holds back another 2 (which are the two best ones facing the harbour and may be sold later for purely residential).

There will be a temporary CIQ built nearby before a permanent structure with convention halls built in the future.

Good luck

Hmm...Anyone knows whether the CIQ will be opened to public and when. And where's the landing point for the SG side?
Am watching this with immense interests....

 

[jasonjst]

Hmm...Anyone knows whether the CIQ will be opened to public and when. And where's the landing point for the SG side?
Am watching this with immense interests....

I am doubtful it can work as a alternative mode of transport beween Singapore - JB . Likely for leisure use , such as rich man yatch and tours, which is their intention leh . Boats and sampans was invented much more earlier than cars !

 

[Icyraine]

I am doubtful it can work as a alternative mode of transport beween Singapore - JB . Likely for leisure use , such as rich man yatch , which is their intention leh . Boats and sampans was invented much more earlier than cars !

Ferries may be faster during special occasion eg. massive jam at the 2nd link. Said it takes 30 mins to cross the strait, with custom etc.. may be 45 mins?

 

[Equinox]

Hi TrulyAsia and JBhome,

Me have been actively reading this thread since ages but only writing my first post now...
Anyway, I too had bought a unit in Horizon Residence and mine is at Tower B. I signed on 30/12/2011. I am still waiting for State Approval and the S&P agreement. Is this normal? Kinda worried that it is taking too long. Called the salesperson (developer) and she told me that she would check with the law firm. Till date there's no update on this.. Have both of you got yours...?

TrulyAsia, with regards to your question .. I was at the site office on the 3rd day of CNY and was told that they only have 1 unit at tower A and about <4 units at tower B available. I was told that these units are available due to buyers having loan problems...

 

[rogue1109]

Yes bro...if u consider a retiree with little or no risk appetite and just wanting to put the money in the bank....SGD 1 million today will garner him about $800 per month in terms of interest. Just enough for basic survival in SG today.

On the other hand, RM 1 million will generate close to RM3,000 in interest per month at around 3.5% p.a. Assuming house fully paid and car fully paid, i think can survive much better in JB than SG...just based on interest alone without even touching principal. So bro..dont need SGD750K,...400K suffice. haha.

In SG today, the low interest rates forces many retirees to take on greater risk in search of higher returns - sad state of affairs where interest earned from FD cant even cover inflation. In Malaysia, Bank Negara have the decency to set a base rate to at least allow people to earn something from their hard earned cash.

cheers.

The 3.5% p.a. interest is on normal savings account?

If say I am going to take a loan of about 4.3%, does it make sense to have cash deposits earning 3.5% to counter the interest rate on the loan rather than keep it in SGD savings earning less than 1%?

By the way, I noticed that there are houses with sloping roofs and houses with flat roofs. Other than design, are there any other major differences between the two?

 

[jasonjst]

Ferries may be faster during special occasion eg. massive jam at the 2nd link. Said it takes 30 mins to cross the strait, with custom etc.. may be 45 mins?

You see jam only occurs on long weekends / holidays , hence boats operators may only be getting critical mass on these occasions . How about normal days ? Also chances are Singapore side is not too keen to make things so easy , cheaper and smooth lah , just that they wont /cant tell you, its all political .