Re: New Tax Rates For Foreigners Owning Properties In Johor
1. Thank you for your post. At first I wrote Astaka off. I thought it was too big and too "rich". But I actually intend to pay a visit to the gallery soon. It may be big and over priced but it is the lifestyle i want; if it turns out the way it is supposed to be. I thought if Afinity is going at RM800 psf, Astaka really isnt that expensive.
2. I agree with you that JB's close proximity to SG can support the prices. But I would like to point out to fellow readers, that price levels are relative. Some ppl will target PH, East Ledang, HH or similar properties. Others may go to Plentong, Kempas or Austin. It is hard for me to put it down in words but I think you guys should be able to get what I am driving at. When prices move at a location move higher, it is only reasonable the folks on a tighter budget move further away.
3. For anyone who cares, I am an average Singaporean (maybe slightly above average), and I share the same concerns i.e. security, returns on investment, amenities, value of purchase, etc. I, too, aspire to own a really huge landed. But security to me is paramount. I dont see how I can defend 8,000 sqft of land by myself and that would be the biggest reason why I wouldnt buy it in JB. A small landed would not make sense for me cos I am already living in one. And so, I buy what I think can give me the most happiness. A classy apartment that has close proximity to gals that I can bring back to!
4. Another boring story to share with you guys. Because I play golf, I got to know of HH way before Iskandar was hot. I was told a landed was only about SGD200K. It never crossed my mind to buy then. Bukit Indah was still sleepy. The gals were ugly. Food was and still crappy. It would take me a 2,000 rounds of golf to break even for the house. But now, Bt. Indah is diff. Things are falling into place and the chicks are getting prettier. And when I decided that maybe I can take a look at HH, now it would take me 4,000 rounds of golf to break even! Moral of the story: Risk Premium
5. Now on pricing. A fren of mine bought Tropica (i think) at RM610psf. He brought me to see the Capri selling at RM990psf. Has prices gone up? sure it has. are they the same product? They are not. Tropica is Residential only. Glass and concrete facade. Capri is a mixed developement with an all glass facade. So which developement has better value? That's not for me to say. Only the buyer knows. Also, if you guys take a look at the earlier launches of East Ledang, by my standards, the finishings are not good enough. The newer launches are of cos more expensive, but maybe the finishes are better? I wouldnt know till the end product comes out. What I am saying is that, with the increase in psf, as far as I can see, the reputable developers are supporting the prices by giving better products.
6. I dont think Straits Quay is a good proxy for PH. Its DAM FUGLY! Its no wonder they cant sell. But I digress. Anyway...I guess by Penang standards, some may think that JB prices are bubbling. I humbly disagree. Penang doesnt have Singapore as her neighbour. JB has. And I have already said it before, and I shall say it again, Medini is Singapore's RETIREMENT VILLAGE!!! It's out there for all of you to see. They are calling it Wellness cos nobody wants to buy a Retirement Village!!! Agree??? A big island load of old ppl with REAL CASH (note: not borrowed) after selling their HDB and spending it in JB can only spur the economy. Let me be the first to say this: The PRC milfs will move into Medini and cheat old man of their retirement funds, just like what they are doing at People's Park right now. PRC milfs are the best money-sniffers. Will win any blood hound hands down.
7. I actually have more things to say but my post will look more cluttered than it already is. So, before I go... specuvestors, pls tread carefully in Iskandar. It is full of landmines. For ppl who intend to purchase for own use, just go ahead, buy what you like and can afford and you cant go wrong.
A simple thing like a rich neighbour like Singapore will do.
My stupid friend bought a 50th fl unit in Astaka for RM1500+ psf.
Penang I only like Gurney Dr. And I have never come across a FH Gurney Super Condo for RM400 yet. (my favorite condo in Penang is Gurney Paragon. I did not buy because I know I cannot make much from it.)
E&O condos call Straits Quay is trying hard to sell off their units. But tough luck.... rental is slow.
(Thanks for pointing it out. I was wondering anyone use Straits Quay as a proxy toward Puteri Harbour)
http://www.straitsquay.com/footer/e&o_property_development