Living in JB 2 (Johore)

[yonglip]

When the whole economy collapse, which is very possible and will definitely happen depending the cycle, these people will start to jump off from the very condos they think can make them into millionaires. Many of these " investors" dont understand that when prices go up, it can also go down. During the last major crisis + SAR + 2011 twin towers attack aftermath, I visited many many resale residential and commercials units in Singapore. Many buyers stock up the units at S$500K and above a few years ago and suddenly when they needed the money for "margin calls" etc and start selling at S$150k, the agent could not sell it. I had the money to pay a S$30k deposit at the time but even then, I dont know if the market will go down further until my property vaporises into the thin air. I maintained my stance not to buy at tat time.. and now the same property is "only" worth some S$300+ k. .

Some owners have already ended their lives during the major crisis and its a very sad thing.. from driving Maseratis, CLKs, S350L etc , staying in landed houses to hanging themselves in their new 3-room flat. One man ( now should be in his 50s ) told me he lost S$600K during the crisis. From staying in a bungalow to staying in a 3 room flat. He is lucky he never lost his life.

When you feel like investing, always remember, the market is not going up and up forever. Even a hot air balloon will burst when reach a point up there.

Agree bro. many johoreans have been bitten by the same bug that cause the buying frenzy among Singaporeans. They fear price will continue to go up and its now or never. I know of a young banker earning about RM3K a month buying a million dollar sem-d with downpayment from his parents. What many johoreans fail to realise is that the more they buy like that, the more developers have reasons to go for the next price increase. What amazes me is that many johoreans are so caught up in the property game that they forgot that land is aplenty in their hometown. There will always be another new devt that comes along. there is no real need to drive up prices.

 

[LGLab]

Hi Everyone,

Anyone taking loan from the bank of malaysia and is under the flexi-loan package?

Can I clarify the following:-

1. Are you paying 500 RM to start up the account?
2. Monthly maintenance of 10RM - Do you all pay this?..

What do you think is better between flexi and traditional loan package?..

Flexi comes with the ability of lower your interest incurred by:-
Loan Amount - (minus) Current Account Balance = X Amount.

X Amount is being calculated based on interest on a daily basic.

Traditional loan are like those normal loan which you pay up a lump sum for your interest is being calculated only at the end of the month.

Cheers!

 

[yonglip]

Hi Everyone,

Anyone taking loan from the bank of malaysia and is under the flexi-loan package?

Can I clarify the following:-

1. Are you paying 500 RM to start up the account?
2. Monthly maintenance of 10RM - Do you all pay this?..

What do you think is better between flexi and traditional loan package?..

Flexi comes with the ability of lower your interest incurred by:-
Loan Amount - (minus) Current Account Balance = X Amount.

X Amount is being calculated based on interest on a daily basic.

Traditional loan are like those normal loan which you pay up a lump sum for your interest is being calculated only at the end of the month.

Cheers!

bro. set up is RM200 and monthly maintenance is RM10

Is in fact just one current account.

The loan amount is treated as an overdraft. i.e.

if loan amount is RM400K, your current account will show a negative balance of RM400K.

If you top up some monies in this current account, example RM100K, it will show a negative balance of RM300K. However u are able to write cheques on the RM100K which you have topped up.

bro. flexi-loan is definitely better if you have execess cash lying around.

 

[greddy88]

When the whole economy collapse, which is very possible and will definitely happen depending the cycle, these people will start to jump off from the very condos they think can make them into millionaires. Many of these " investors" dont understand that when prices go up, it can also go down. During the last major crisis + SAR + 2011 twin towers attack aftermath, I visited many many resale residential and commercials units in Singapore. Many buyers stock up the units at S$500K and above a few years ago and suddenly when they needed the money for "margin calls" etc and start selling at S$150k, the agent could not sell it. I had the money to pay a S$30k deposit at the time but even then, I dont know if the market will go down further until my property vaporises into the thin air. I maintained my stance not to buy at tat time.. and now the same property is "only" worth some S$300+ k. .

Some owners have already ended their lives during the major crisis and its a very sad thing.. from driving Maseratis, CLKs, S350L etc , staying in landed houses to hanging themselves in their new 3-room flat. One man ( now should be in his 50s ) told me he lost S$600K during the crisis. From staying in a bungalow to staying in a 3 room flat. He is lucky he never lost his life.

When you feel like investing, always remember, the market is not going up and up forever. Even a hot air balloon will burst when reach a point up there.

hello bro.. that's in SG. i believe that'll logically happen in JB too.
but almost everyone (discount the agents..:p) i asked say JB won't happen and remained stable throughout history.

wierd. foreigners fuel demand. in a crash, the very same foreigners will go, and wouldn't that also affect the prices too?

 

[arsenal]

I am on HSBC. 10RM monthly service fee. No setup but that doesn't matter because it is still your money. BLR-2.45. When I applied HSBC, RHB offered BLR-2.5 but I thought HSBC is more international.. Actually it doesn't really matter...

All in all, I am happy with HSBC.

Hi Everyone,

Anyone taking loan from the bank of malaysia and is under the flexi-loan package?

Can I clarify the following:-

1. Are you paying 500 RM to start up the account?
2. Monthly maintenance of 10RM - Do you all pay this?..

What do you think is better between flexi and traditional loan package?..

Flexi comes with the ability of lower your interest incurred by:-
Loan Amount - (minus) Current Account Balance = X Amount.

X Amount is being calculated based on interest on a daily basic.

Traditional loan are like those normal loan which you pay up a lump sum for your interest is being calculated only at the end of the month.

Cheers!

 

[yonglip]

In my 3 years stay at NI... minor power outage happens about 3 or 4 times a year... major power outage (like the whole NI blacked-out) happens about 3 times... good to have some alternative source of light handy

I tot there are those portable generators that runs on petrol..mm....may get my hands on one of those if the outage is long and frequent....

 

[LeMans2011]

I tot there are those portable generators that runs on petrol..mm....may get my hands on one of those if the outage is long and frequent....

Actually its not a bad idea though i find the blackout tolerable... my sibling in Melbourne keeps one of those at home too

 

[greddy88]

btw, for those of you staying there.. do you do area cleaning by yourselves?
hdb is currently back-breaking already (worse if you have kids hopping around).. imagine doing it for a cluster or even a semi-d

for sharing sake.. how much is it getting a part-time maid, and she can go thru the guards?

 

[yonglip]

hello bro.. that's in SG. i believe that'll logically happen in JB too.
but almost everyone (discount the agents..:p) i asked say JB won't happen and remained stable throughout history.

wierd. foreigners fuel demand. in a crash, the very same foreigners will go, and wouldn't that also affect the prices too?

Thats becos so far in JB history, there is no run up in prices similar to what we are witnessing now. Developers launching subsequent phases at higher and higher prices. And people are snapping up at these higher prices leading to a vicious cycle of price increases.

Last time when buy JB house, people will laugh and say sure lose money. Now, you hear stories of ppl profiting from houses.

cheers.

 

[avalon74]

beauty is in the eyes of beholders la ....
I am praising wuqi's wife .....she must be super gorgeous that wuqi bought 3 cars for her leh ...

btw , yr 7 days over liao meh ? how come i see u now ah , ahhahahah , joking la

Love is more than skin deep.. & I believe Wuqi feels similarly.. if money can be spent to make loved ones happy.. that is money well spent

 

[avalon74]

At BI Justco, one can still park at the road side.. So one can quickly do his grocery shopping and hop into his car and go... We can't do that in Singapore..

Believe 1 hr at Jusco is free.. had lunch & was pleasantly surprised no charges..
with jusco card.. 1st 2 hrs free

 

[jasonjst]

hello bro.. that's in SG. i believe that'll logically happen in JB too.
but almost everyone (discount the agents..:p) i asked say JB won't happen and remained stable throughout history.

wierd. foreigners fuel demand. in a crash, the very same foreigners will go, and wouldn't that also affect the prices too?

Bro my view is price correction in JB is more manageable. For example most people buy their house at 500 to 600K range, a correction of 20% is 100k or S$40K. I think we all can cushion it. Another factor is most people did not buy the house for rental income, most are just use as weekend home/own stay. The only group that will face the music is those who buy multiple unit for speculation. BTW how much you think a basic 500K house in JB can go down ? Material, labour and land cost (prime land) is already close to 300K liao , maybe someone can check with industry people on this costing .

 

[Aisanbo]

Hi Everyone,

Anyone taking loan from the bank of malaysia and is under the flexi-loan package?

Can I clarify the following:-

1. Are you paying 500 RM to start up the account?
2. Monthly maintenance of 10RM - Do you all pay this?..

What do you think is better between flexi and traditional loan package?..

Flexi comes with the ability of lower your interest incurred by:-
Loan Amount - (minus) Current Account Balance = X Amount.

X Amount is being calculated based on interest on a daily basic.

Traditional loan are like those normal loan which you pay up a lump sum for your interest is being calculated only at the end of the month.

Cheers!

If I have 100k funds, I can either redeem partially the loan or place in the current account which can offset interest payable.
For partially redemptiion of loan, I still need to pay the installments every month and if I subsequently have cash-flow issue, then problem would arise.
For placing in current acct, I can actually let it be deducted for the monthly installments so I have a lot of flexibility in budgeting for the installments.
In theory, I need not further transfer money into the loan account for the next 3-4 yrs.....of course then would incur more interests cost as the offset balance get reduced over the months.

 

[crystal_tiong]

I am on HSBC. 10RM monthly service fee. No setup but that doesn't matter because it is still your money. BLR-2.45. When I applied HSBC, RHB offered BLR-2.5 but I thought HSBC is more international.. Actually it doesn't really matter...

All in all, I am happy with HSBC.

no no no , set up fees is earn by the bank , not credit into yr acct.
My sales told me that even traditional loans acct has daily interest rate which is offset even u put in extra money.
And kind of discipline that u put in e money u wont take it out coz need to pay admin fees if u withdraw and need to inform bank in writing.

 

[gskalra]

Agree bro. many johoreans have been bitten by the same bug that cause the buying frenzy among Singaporeans. They fear price will continue to go up and its now or never. I know of a young banker earning about RM3K a month buying a million dollar sem-d with downpayment from his parents. What many johoreans fail to realise is that the more they buy like that, the more developers have reasons to go for the next price increase. What amazes me is that many johoreans are so caught up in the property game that they forgot that land is aplenty in their hometown. There will always be another new devt that comes along. there is no real need to drive up prices.

I had the same feeling when I went to visit HH. I think its getting overpriced, because of all the hype.
Furthermore when I saw how much they were planning to build, I felt that there may be an oversupply of houses at one point.
Though the place is awesome, I think they are increasing the prices due to hype.

 

[avalon74]

I tot there are those portable generators that runs on petrol..mm....may get my hands on one of those if the outage is long and frequent....

Thought of it as well.. concerns on the fuel flash point as I am only visiting on weekends..
Btw, any one knows about fire insurrance in malaysia?

 

[yonglip]

Actually its not a bad idea though i find the blackout tolerable... my sibling in Melbourne keeps one of those at home too

I will definitely love to buy a landed from a developer that has something like this...a standby home generator...really peace of mind.

http://www.youtube.com/watch?v=b_kFNlXRxz8&feature=relmfu

like the name cummins onan..haha.

Any bro using something similar...

cheers.

 

[east539]

Dear All,

I've tried to read a number of your posts (it's overwhelming) and I was hoping that any of you can give me some advice...

I would like to buy a landed property in JB for my elderly parents but I do not know which property to go for.

Last weekend, I brought them to take a look at the new developments in East Ledang (Melody Parks) which I thought had rather steep pricing ($3+m) and Horizon Hills (The Hills) which my parents liked a lot.

So it's probably going to be Horizon Hills. But I when I compare the difference between the price of the new launch (The Hills) and the subsale properties, I find that I could be better-off buying a newly completed and/or renovated property. I'm not sure... I do understand that the quality of the finishing at The Hills may be better but... I'm just not sure if I should go for it... $1.6 million for a 3-storey semi-detached house can get me 2 units of corner link/terraces at The Golf (can it?)... I know I've to pay more upfront for subsales... for the stamp duty, legal fees, etc.

What would you do if you were me? My income is relatively stable and fair... (Not sure if that is relevant) I feel that my parents will be happier and more relaxed if they moved there and I commuted from JB 3-4 times a week. They'll keep their place in Singapore just in case they can't get used to life in JB. I'll get them a malaysian car to drive out to Jusco, Tesco and Giant and to wander around anywhere they want....

So I guess my questions are: Subsales or buy brand new? What size (I know it's a personal preference thing but what will u do?) to get? If it's subsales, is there an agent u would recommend so that I wouldn't overpay by a ridiculous amt?

I hope that my questions are not foolish...

Thank you all so much in advance for your kindness.

if my memory serve me right, there is no semi-d at the hills, only cluster...

 

[IskandarRocks]

When the whole economy collapse, which is very possible and will definitely happen depending the cycle, these people will start to jump off from the very condos they think can make them into millionaires. Many of these " investors" dont understand that when prices go up, it can also go down. During the last major crisis + SAR + 2011 twin towers attack aftermath, I visited many many resale residential and commercials units in Singapore. Many buyers stock up the units at S$500K and above a few years ago and suddenly when they needed the money for "margin calls" etc and start selling at S$150k, the agent could not sell it. I had the money to pay a S$30k deposit at the time but even then, I dont know if the market will go down further until my property vaporises into the thin air. I maintained my stance not to buy at tat time.. and now the same property is "only" worth some S$300+ k. .

Some owners have already ended their lives during the major crisis and its a very sad thing.. from driving Maseratis, CLKs, S350L etc , staying in landed houses to hanging themselves in their new 3-room flat. One man ( now should be in his 50s ) told me he lost S$600K during the crisis. From staying in a bungalow to staying in a 3 room flat. He is lucky he never lost his life.

When you feel like investing, always remember, the market is not going up and up forever. Even a hot air balloon will burst when reach a point up there.

Hi bro horizonhills, just curious, what property is worth S$300+K now in Singapore? Or am I reading this wrong.

In any case, my view is that, while there will be softening in the prices in Johor in case of meltdown, the market will not be as volatile as Singapore for the following reasons:

- Low liquidity - it is not as easy to sell property in Malaysia as in Singapore. In Singapore, agents are more efficient, industry is matured, transaction take only 3 months. In Iskandar, industry is nascent and we have all experienced how good the agents are. Moreover, it take longer, particularly for foreigners, for transactions to go through given the State Consent process, etc.

- Less speculative buying - as I mentioned earlier, the foreigner profile in Iskandar is different from that in Singapore. While there are speculative foreigners present, most foreign buyers are Singaporeans and PRs who are looking for a home, close to friends and family. While some may get nervous and go for a fire sale, it will not be as widespread as that in Singapore where there are more foreign speculators/investrors, presently from India, China, etc.

- Most of the current developments are under construction, and from what I understand, it is very difficult to sell incomplete projects. So, we are most likely to see a crash if the downturn lasts 2-3 years, once the projects starts completing. However, if the downturn lasts that long, there will be a lot more to worry about.

- So far, most of the developers, such as UEM and Setia, have very strong balance sheets and they are less likely to reduce prices drastically. From what I understand, UEM held on to their prices in 2009 and still managed to sell, albeit slowly, while no one was buying in Singapore.

 

[Nasi Lemak]

More Singaporean choose to move to JB

http://forums.asiaone.com/showthread.php?t=46134