Living in JB 2 (Johore)

[Diaspora]

Wow...85% sold??? Walaueh...still BBB mode even though slowdown looming...
Like this Tower B will be much more expensive liao... CNY shopping anyone??

Over 85% of Tropez Residences Tower A sold
By Lam Jian Wyn of theedgeproperty.com
Tuesday, 10 January 2012 14:41

KUALA LUMPUR (Jan 10, 2012): Dijaya Corporation Bhd has sold over 85% of its Tropez Residences' Tower A in Iskandar Malaysia, Johor within a month of its launch, the group announced in a statement on Tuesday, Jan 10.

“We are very pleased to receive this strong response from locals and Singaporeans in such a short time,” said group CEO Tan Sri Danny Tan.

The 428 units in the 38-storey tower A have built-ups from 689 to 1,668 sq ft with one-bedroom plus study room units to three-bedroom units priced from RM400,000. Tower B, which will be officially launched this weekend, will stand at 39 storeys and feature 424 units.Meanwhile Tower C which is slated to launch after the Chinese New Year festivities is 29-storeys tall and will contain 297 units.In total, there will be 1,149 units of serviced apartments within the development with built-ups ranging from 463 to 1,798 sq ft in luxury duplex, three-bedroom, four-bedroom and one-bedroom studio configurations.

Dijaya Corp expects to complete Tropez Residences in 2014. Tropez Residences is part of the Tropicana Danga Bay integrated development that will also feature office towers, residences, Sohos, a medical centre, an international school, a hotel and a shopping mall.

The entire development will be connected by a network of covered sky bridges and pathways and also feature green roofs.

The 37-acre freehold project is a joint-venture between Dijaya Corp and Iskandar Waterfront Sdn Bhd worth RM3.8 billion.

Located on the Straits of Johor, Tropicana Danga Bay is close to the city centre, Senai International Airport, cargo hubs and seaports and is connected to a network of highways such as the North-South Expressway, the Johor-Singapore Causeway and the Malaysia-Singapore Second Link.

 

[Diaspora]

-deleted-
Repeated Post

 

[nesta0013]

East bro previously started a post on it, I am just adding some stiff based on what I heard at the sales office yesterday:

22x75 2 storey link houses (divided into Type A & B, but both with almost identical built up 2293 and 2312sqft) -

Type B is the one that is actually scheduled for soft launch after CNY, although Type A may be launched at same time if they collect enough cheques.

580-600k for intermediates, with some going up to 630k if they have the advantage of not being directly across another unit.

End / corner lots - 800-900+k

Expected completion date to be 3rd quarter 2015. Likelihood of free club social membership, but to be confirmed.

22x100s, only 6 units of these and no launch dates available.

No semi-Ds or bungalows planned for Greens, but cluster will be launched at some point.

Is someone able to tell me how to get an image up here? Then I could put the plan for the current launch up.

Bro teck,

Thanks for the info
Oh it takes about 3 years to complete the unit? But I believe the completion date will be earlier.

Wondering will be be any discounts when purchasing during CNY period(ang pao)? haha...

 

[IskandarRocks]

Was told by an agent that Medini will have a lot more apartments. Impiana might be the last apt in East Ledang & freehold too, so in my opinion that could be a better buy.

Low quantum for 1Medini could make it tempting for some buyers though...

Experts like IskandarRocks, Puteri Harbour, investor -- kindly comment?

Expert - ha ha - as expert as I can be based on all I have read on the forum posts.

In any case, I would agree with you. Not sure how 99 year leasehold works in MY. From a resale perspective, freehold would definitely be better as I have come across several folks who would not consider leasehold, period. So you would be shutting out a portion of potential buyers. For that reason I would go with Imperia as the price differential does not seem to be much. Also, as someone mentioned, East Ledang is more developed, so you would not be within a construction zone and a dust bowl for the next few years, given the scale of plans at Medini.

That said, being free from foreigner threshold restrictions (currently 500k) is a big plus at Medini. One would hit the jackpot if the foreigner limit gets revised to say 750k or 1M, particularly if they bought something closer to the lower end, say 300k to 400k as Medini would be the only project (based on launches so far) that a foreigner with a small budget would be able to buy into.

 

[DREAMorACTION]

More protection but also expects developer to pass the costs onto purchaser

"In an effort to safeguard home buyers, property developers will be mandated to acquire insurance for their new projects, according to Datuk Seri Chor Chee Heung, Housing and Local Government Minister.

Chor noted that the ruling would be announced after it is approved by the authorities and upon the conclusion of talks with insurance companies.

"We are in discussions with insurers to see how this can be implemented. We may need such a mechanism because there have been many housing projects abandoned in recent years with buyers left in the lurch," he said.

According to Chor, in the past decade, 167 housing projects consisting of 53,238 units had been abandoned in the Peninsular Malaysia alone, while 83 projects comprising 15,806 units have since been rehabilitated.

"We are also reviving 62 housing projects and hope to complete them soon," he added.

The Ministry of Housing has revived 31 projects last year and aims to rehabilitate another 35 comprising around 12,000 units this year. Since 2007, around 5,000 directors of housing development companies and more than 1,000 developers have been blacklisted."

 

[CameraMan]

Mostly within an hour... the worst lasting about 2 hours was only once i think

I guess one hour is not that bad.

 

[mathstub]

Oh, I got a bill from my lawyer to ask me to pay foreigner levy last month but he said I could pay him any time in Jan.

Now hearing from you that the levy may increase to 30K, I'd better pay the lawyer tomorrow immediately. Hopefully, he will not send me new bill asking for more after the levy is increased.

Thanks Bro for sharing. Certainly will double with lawyer as well about the levy.

For those bros who planing to buy , do it fast . Got a hint from MY lawyers that they are going to up the foreigner levy from current 10K to 30K liao ! Any bros here receive the same info ?

 

[mathstub]

A few months ago, I called 1medini and was told the price was 400psf. So now they increased the price? I was turned off because of the leasehold and am still worried about the leasehold. So I certainly will not buy.

They told me one side of 1medini will face legoland and the other side facing the sea. The price psf facing the sea will be quite different from the one facing legoland. But I heard about this a few months ago.

the location kinda off. away from puteri harbor, just slightly further from 2nd link from EL's condos which has location advantage currently since it is a stone's throw from anjung. If the location is in the heart of medini, flanked left right by office blocks (or potential) then got fight...

 

[yonglip]

A few months ago, I called 1medini and was told the price was 400psf. So now they increased the price? I was turned off because of the leasehold and am still worried about the leasehold. So I certainly will not buy.

They told me one side of 1medini will face legoland and the other side facing the sea. The price psf facing the sea will be quite different from the one facing legoland. But I heard about this a few months ago.

Once built up the whole place maciam Raffles Place. Will be lucky if still have the sea view.

 

[jasonjst]

Once built up the whole place maciam Raffles Place. Will be lucky if still have the sea view.

Haha , maciam Raffles Place , then 400psf is dirt cheap liao , should be 4000 psf if it ever happen .

 

[Okane]

A few months ago, I called 1medini and was told the price was 400psf. So now they increased the price? I was turned off because of the leasehold and am still worried about the leasehold. So I certainly will not buy.

They told me one side of 1medini will face legoland and the other side facing the sea. The price psf facing the sea will be quite different from the one facing legoland. But I heard about this a few months ago.

Though now is 390 psf? should be now they decrease the price right? correct me if i'm wrong bro

 

[Nasi Lemak]

 

[trithl]

Hope "The Greens" will have a good package, so far the ball is on developer's court.

No Interest absorb, no Stamp Duty absorb. good thing is the club house membership, but still need to pay RM75 per month to use the club facilities. So I am assuming monthly maintenance of around RM200- RM250 (including the security fee).

House price 600k + Stamp Duty = 13k + Interest 25-30k (assuming complete in 2 and half years) + Foreign levy = 13k
Upfront cost is 660k, how much appreciation are we looking at? 750k upon VP?

 

[jasonjst]

RM 750k for a normal terrace without any special golf view or firework views ? I hope buyers use their brains. Sporeans or foreigners may not be able to buy properties less than rm500k but renting a simple apartment in gelang patah, whole apartment or landed house is about S$300/month or S$3600 per year only

Bro , what did you do with you HH house , rented out already ? or still using it as weekend home ?

 

[curiouscat]

Found that in HH, a few semis have been trying to be rented out ( furnished ) for as low as RM 5500 but for 6 months, there has been no take-up rate.

However along the same row, there are indeed houses being rented out. My conclusion is that there is market in HH for rental still at the moment but dont expect a quick take-up rate. Be prepared to wait 6-18months if u wish to rent out your house
...

There is some pretty simple math that makes it very hard to justify waiting months with vacancies unless the rental market is non-existant. RM 4,200 * 4 * 12 = 201,600 4 years at RM 4,100).

RM 5,500 *3 * 12 = 198,000

Renting out a place for 4 years at RM 4,200 instead of 3 of the 4 years at RM 5,500 pays you more money. RM 4,200 seems like less than you would need to go - RM 4,500 gives you even more... You have to factor in how long a property sits vacant to calculating the return.

In general, the biggest killer for real estate investing cash flow is an unrented unit. You don't want to lower rental standards (and risk damage to the house, unpaid rent...) but having a vacant property is bad. Lower the rent and market your property and get it rented. Now as I pointed out in an earlier post the rental market is fairly inefficient (which is too bad for you, if you want to just offer a good deal and get your place rented). In in-efficient markets you are rewarded more for seeking out inefficiencies and providing value (but it takes expertise).

For some reason real estate investors here don't seem to care about vacancies. My guess is this is because they are not much worried about cash flow and instead are banking on large capital gains over the long term. But if you optimize your cash flow you can afford more property (or other investments). If you believed that rents were dramatically increasing in 6 months or a year maybe it would make sense to tolerate vacancies. Even then, though, I think it is a mistake.

 

[Polarbear]

Just wondering id someone can please share their experience of taking CW3 or anyother express bus. How long CW3 takes from Bukit Indah to Jurong east?

Can you please also advise if taking bus from gelang patah to Jurong east is faster than from Bukit Indah to Jurong east. Which housing schemes I should look for to rent a house that is near to gelang patah /Bukit Indah?

Your help is greatly appreciated.

Cheers

 

[Hitesh]

There is some pretty simple math that makes it very hard to justify waiting months with vacancies unless the rental market is non-existant. RM 4,200 * 4 * 12 = 201,600 4 years at RM 4,100).

RM 5,500 *3 * 12 = 198,000

Renting out a place for 4 years at RM 4,200 instead of 3 of the 4 years at RM 5,500 pays you more money. RM 4,200 seems like less than you would need to go - RM 4,500 gives you even more... You have to factor in how long a property sits vacant to calculating the return.

In general, the biggest killer for real estate investing cash flow is an unrented unit. You don't want to lower rental standards (and risk damage to the house, unpaid rent...) but having a vacant property is bad. Lower the rent and market your property and get it rented. Now as I pointed out in an earlier post the rental market is fairly inefficient (which is too bad for you, if you want to just offer a good deal and get your place rented). In in-efficient markets you are rewarded more for seeking out inefficiencies and providing value (but it takes expertise).

For some reason real estate investors here don't seem to care about vacancies. My guess is this is because they are not much worried about cash flow and instead are banking on large capital gains over the long term. But if you optimize your cash flow you can afford more property (or other investments). If you believed that rents were dramatically increasing in 6 months or a year maybe it would make sense to tolerate vacancies. Even then, though, I think it is a mistake.

My few cents.... since HH would be your freehold property and as the land lord renting it out to someone instead of keeping it vacant would cause much more wear and tear and it would involve repainting/ refurnishing and other plumbing/electric break downs that could incur a cost as well... so the above calcilation may need to be modified to factor in higher the wear and tear for an occupied house...

Cheers,

 

[Hitesh]

HDB launched the new units today... and surprisingly the rates are much lower than their previous launches.. which is an indiacation of the signaling by the government that the prices are going south.... this is likely to have a ripple effect on the prices of private property and the rental (in some time though) in the Singapore property market and soon this southward movement might flow down to Johor as well. The link has been shared below...

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1176075/1/.html

 

[yonglip]

HDB launched the new units today... and surprisingly the rates are much lower than their previous launches.. which is an indiacation of the signaling by the government that the prices are going south.... this is likely to have a ripple effect on the prices of private property and the rental (in some time though) in the Singapore property market and soon this southward movement might flow down to Johor as well. The link has been shared below...

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1176075/1/.html

Agree that all signs point to the fact that we have reached the tipping point and is beginning to head south...How much south its anyone's guess. Best is to wait and see how things develop hereon. There is no need to rush and buy anything unless really urgent.


Cheers.

 

[greddy88]

Agree that all signs point to the fact that we have reached the tipping point and is beginning to head south...How much south its anyone's guess. Best is to wait and see how things develop hereon. There is no need to rush and buy anything unless really urgent.
Cheers.

agreed. use this time to save your bullets and move in for the kill when it heads south..
imo, it doesn't really matter if u don't get at the rock bottom (nobody can predict). even a 5-10% is good