Living in JB

[euphony]

Not yet. Need to speak with some of my neighbours to see how we can protest against the increase. I believe all these improvement work is to entice the sale of their new precinct and don't see why I should subsidise the cost or improve the developer's profit.

LF also mentioned that the Malaysian govt has imposed a new policy of increasing the minimum wage of guards from RM300 to RM750 per month. I am confident that the Ghurka guards are paid more than a thousand per month, so how does this minimum wage affects them as I doubted anyone working for RM750 not to mention RM300. Even a maid is paid more than that in Malaysia.

oh dear! that is very high in JB standards and the current is already quite high. am shifting in, in the near future, i wonder how will it be adjusted for my place? hmmm...

 

[Chillout]

oh dear! that is very high in JB standards and the current is already quite high. am shifting in, in the near future, i wonder how will it be adjusted for my place? hmmm...

Whatever you are paying now, expect at least 20% more. Wouldn't be in the least surprise if more for smaller units

 

[jasonjst]

I am also thinking of opening an eatery . European fare. Spoke with restaurant owners and the problem they are facing is difficulty in getting kitchen help.

Hi,
How much is capital requirement to setup a eatery ? Anyone got lobang for some kind of francise ?
Got a shophouse at bestari , near the 24hrs Habbis Roti Prata . I am thinking of renting out , any taker ?

 

[nusajayaphile]

Setia gives 2 yrs free maintainance for every sale in a precinct. Its about the time it takes to finish all the work within 1 precinct. So I think you all should gang up to send in your objection. Don't wanna put more money into irresponsible developers pocket. Spoils the whole market.

Hi, does anyone know whether if you purchase a house in Horizon Hills, the developer will pay for all the stamp and legal fees as well as State Levy?

I asked the developer's sales agent, and one said all legal fees on the SPA and loan will be absorbed, but not the stamp fees and levy. Another said, they will pay for everything, so not too sure which is correct.

Is The Hills terrace worth investing in at RM750K? Anyone can advise?

 

[Chillout]

Hi,
How much is capital requirement to setup a eatery ? Anyone got lobang for some kind of francise ?
Got a shophouse at bestari , near the 24hrs Habbis Roti Prata . I am thinking of renting out , any taker ?

Would need Wuqi to help answer the capital requirement part.

My desire for restaurant/cafe would not be in the near future. Completing the building of my house takes priority.

Anyway, what is the rental like for the shophouse?

 

[jasonjst]

Would need Wuqi to help answer the capital requirement part.

My desire for restaurant/cafe would not be in the near future. Completing the building of my house takes priority.

Anyway, what is the rental like for the shophouse?

I guess it depend very much on location and cost of the shophouse , those earlier lots before 2008 can be as cheap as 2.5K since they bought the shop at around 450K . My shophouse is around 700K and I think rental at 3,600 to 3,800 /= should yield 5.8% P.A which I think is very reasonable . Anyway is quite a big risk investing in shophouse , not many people make money actually , hope that the Bestari area can be "WANG" enough to rent out easily for a long run.
For people who love to run a family eatery , shophouse is good as your family can stay upstair and your eatery shop downstair , save lots of money renting a house for 2K plus .
This might be my plan B if I can learn to run a eatery profitably .

 

[Analytical Professor]

The Maintenance fee looks ok based on whats promised.

Especially if you signed up that you will have to pay a maintenance fee regularly.

ANd ofcourse maintenance fees are subject to increase.

You wanna live in a great place. You gotta pay.

There are luxury condos in KL charging upwards of Rm 1000.

I just spoke to my friend who is very well connected and knows the MD of UEM land. He said Sporean's love to complain despite knowing fully well what they get into.

No offence to anyone here.

But you surely should not compare a condo with what you get in Malaysia.

I have seen lots of condos in Singapore. I must tell you that quite a few of them are poorly maintained. I think the HDBs are better maintained in that sense.

 

[Analytical Professor]

Yeah at Setia Tropika we have 2 years of free maintenance. My free maintenance is due to end in November this year.

But i guess this may be extended since my precint is not complete yet.

The new tenants too need 2 years of free maintenance right?

So i may end up getting 4 years.

Not bad i guess.

Keeping my fingers crossed now hoping for an additional 2 years of free security.

Setia gives 2 yrs free maintainance for every sale in a precinct. Its about the time it takes to finish all the work within 1 precinct. So I think you all should gang up to send in your objection. Don't wanna put more money into irresponsible developers pocket. Spoils the whole market.

 

[Analytical Professor]

Are shop houses really the way to go if you wanna invest in JB?

I see so many shop houses vacant.

Those that are taken up the turnover rate is really very high.

Some eateries change hands so many times.

If low rentals there are ready takers. But then where are the returns?

 

[Analytical Professor]

My two and a half cents:

1) Gold is one of the safest investments to date. Yes it may not give you fancy stock market returns. But it still gives you decent returns in the long term. My Gold investments have more than doubled in value. I dun have any plans to see them either.

2) Real Estate. Now for this location is key. To me Johor Bahru does not stand out as a great investment destination. Couple of forummers have already mentioned that.

My mum had a great entrepreneurial streak. She owned a primary school, had lots of landed properties. This is how they have appreciated.
-- Bungalow 177 times the original investment
-- Land 300 times the original ivestment in a 20 yr horizon

In Spore you can possibly get returns of 5 times or maybe a little more than that.

-- My investments in Franklin Templeton MFs have yielded a 33% returns on original investment in 3 years despite the Lehman Meltdown in between.
However i am not a supporter of MFs which have a high management fee and expense ratio. Saner research tells me to opt for ETFs which mirror the basket of shares that make up the composite index.

Invest wisely. Do your research. Its painful. But when you see your money grow your joy will know no bounds.

Dun follow blindly what the Insurance agents/brokers/financial advisers in any part of the world tell you. In fact most financial advisers do not like me since i do not make investments that make their pockets swell.

All these investments were in emerging markets. I plan to continue to do the same.

Im not talking about speculation. I dun speculate. Singapore has loads of speculators. I am not one of them.

Another important aspect regarding investments is where we try to be smarter than the analysts who invest in the markets by "Timing the Market"

Unless you are a PRO (which most of us are not) its never good to time the market.

DCA is a much better. You can grow your wealth slowly. There are those who argue that the associated costs are high. Yet the pros outweigh the cons and its a systematic and steady way to grow your nest egg.

Singapore is now offering DCA for past few years. However emerging markets have offered this and other creative investment methods for a much longer time.

I am no financial adviser. However what ever i have said is true.

Critics abound! Ofcourse!!

Oh my JB -->> Investments.
:o:o

 

[jasonjst]

Are shop houses really the way to go if you wanna invest in JB?

I see so many shop houses vacant.

Those that are taken up the turnover rate is really very high.

Some eateries change hands so many times.

If low rentals there are ready takers. But then where are the returns?

Well, " theoretically " shop houses are productive economics drivers, it help create jobs, generate sales which are the real drivers it any economies. But in JB, developer simply built too many shop houses that create an imbalance of supply and demand. Ask any retailers , they will tell you it is good investment for shophouses . My shop in SG can fetch a rental of SGD 6.5K to 8K for the last 15yrs without a single month unoccupy. Sometime can be a real cash -cow , if you managed to hit the right location.

 

[ginfreely]

Have you ever thought of setting up shop in JB? I did toy with the idea not long ago. Still thinking.

Have not thought of that, think I better stick to dividend income and rental income.. but never say never, who knows may be open a kiosk or something like that in JB next time? Anyway must be very low rental and no overhead type (ownself man the stall) then can, won't want to take much risk. You thinking of starting business that need to hire staff or those business that you do everything yourself type?

 

[ginfreely]

Good for you Avalon, not many people would even bother to think of their kids. Kudos.

No leh, almost all parents I meet want to leave inheritance to their kids, may be not to their wife/husband but certainly to their children

 

[ginfreely]

thanks for the info, that is absolutely helpful

You're welcome...oh just a note of caution, don't remit too big amount even if you can, just remit small sum in case anything happen to the money changer.

 

[ginfreely]

I am not too happy with the 20% increase effective 1 July 2011. Reason for increase is to upgrade existing damaged roads, repair and add 335 nos of new drain traps, upgrade & increase existing lightings, upgrade landscape, replace gate sensors and motors and replace security vehicles.

To effect the improvement, 40% is required but to make it sweet, only 20%!!! Then they pre-empt that future increase will be a nominal 5% increase annually!!!!

This is daylight robbery. LF has been adding and selling more units, ie more maintenance funds collected and those that wasn't sold yet, the developer should be paying for their share too and yet such exorbitant fee. Have to demand they show us the book.

Currently paying about RM455 per month. Come July, it will be RM546, which is equivalent to what I am paying in Singapore for my condo.

Oh, LF also states that their maintenance charges are generally still lower when compared to other surrounding developments!! How true???

20% increase is alot! Thought LF is quite a few years already, how come maintenance still handled by developer and not the MSCT committee formed by owners?

 

[ginfreely]

The Maintenance fee looks ok based on whats promised.

Especially if you signed up that you will have to pay a maintenance fee regularly.

ANd ofcourse maintenance fees are subject to increase.

You wanna live in a great place. You gotta pay.

There are luxury condos in KL charging upwards of Rm 1000.

I just spoke to my friend who is very well connected and knows the MD of UEM land. He said Sporean's love to complain despite knowing fully well what they get into.

No offence to anyone here.

But you surely should not compare a condo with what you get in Malaysia.

I have seen lots of condos in Singapore. I must tell you that quite a few of them are poorly maintained. I think the HDBs are better maintained in that sense.

I find it strange that condo maintenance fee in Malaysia seems to be not much cheaper than the condo maintenance fees in Singapore, whereas their condo prices are much cheaper. I have seen one old condo in JB with units asking RM250k to RM370k (depending on condition) and yet their maintenance fee is like 25 ct per sq ft and the condo unit size is about 2200 sq ft.

Condo maintenance in Singapore? I think generally quite ok leh except may be the really old or waiting for en-bloc ones? But one thing is the HDBs are very diligent at painting every 5 years while may not be that frequent for condos.

 

[ginfreely]

My two and a half cents:

1) Gold is one of the safest investments to date. Yes it may not give you fancy stock market returns. But it still gives you decent returns in the long term. My Gold investments have more than doubled in value. I dun have any plans to see them either.

2) Real Estate. Now for this location is key. To me Johor Bahru does not stand out as a great investment destination. Couple of forummers have already mentioned that.

My mum had a great entrepreneurial streak. She owned a primary school, had lots of landed properties. This is how they have appreciated.
-- Bungalow 177 times the original investment
-- Land 300 times the original ivestment in a 20 yr horizon

In Spore you can possibly get returns of 5 times or maybe a little more than that.

-- My investments in Franklin Templeton MFs have yielded a 33% returns on original investment in 3 years despite the Lehman Meltdown in between.
However i am not a supporter of MFs which have a high management fee and expense ratio. Saner research tells me to opt for ETFs which mirror the basket of shares that make up the composite index.

Invest wisely. Do your research. Its painful. But when you see your money grow your joy will know no bounds.

Dun follow blindly what the Insurance agents/brokers/financial advisers in any part of the world tell you. In fact most financial advisers do not like me since i do not make investments that make their pockets swell.

All these investments were in emerging markets. I plan to continue to do the same.

Im not talking about speculation. I dun speculate. Singapore has loads of speculators. I am not one of them.

Another important aspect regarding investments is where we try to be smarter than the analysts who invest in the markets by "Timing the Market"

Unless you are a PRO (which most of us are not) its never good to time the market.

DCA is a much better. You can grow your wealth slowly. There are those who argue that the associated costs are high. Yet the pros outweigh the cons and its a systematic and steady way to grow your nest egg.

Singapore is now offering DCA for past few years. However emerging markets have offered this and other creative investment methods for a much longer time.

I am no financial adviser. However what ever i have said is true.

Critics abound! Ofcourse!!

Oh my JB -->> Investments.
:o:o

My friend working in fund management company also said DCA is the best, she follows it herself and made very good gains over the last few years. I never follow her advice though. Now I stick to dividend stocks only, no more unit trust after the painful technology unit trust experience, am still holding to it...now half price only :(

 

[Chillout]

The Maintenance fee looks ok based on whats promised.

Especially if you signed up that you will have to pay a maintenance fee regularly.

ANd ofcourse maintenance fees are subject to increase.

You wanna live in a great place. You gotta pay.

There are luxury condos in KL charging upwards of Rm 1000.

I just spoke to my friend who is very well connected and knows the MD of UEM land. He said Sporean's love to complain despite knowing fully well what they get into.

No offence to anyone here.

But you surely should not compare a condo with what you get in Malaysia.

I have seen lots of condos in Singapore. I must tell you that quite a few of them are poorly maintained. I think the HDBs are better maintained in that sense.

I may have signed up to paying maintenance fee regularly (which I paid a lump sum annually), but that does not mean I am willing to pay whatever fee increase developer asked for. Developer does not equal government. I didn't venture out of singland to the same crap here. Might as well open my bank book to developer based on your argument.

Of course the MD of UEM wouldn't like complaint coz that means more work for him. Therefore cheap comment like 'Singaporean likes to complain'. My personal take is if feedback, suggestions, accountability & responsibility are interpreted as complaints, then I welcome it. Call me complain queen.

Why shouldn't I compare condo in Singapore with landed in Malaysia. Cost of running a condo is much higher than running landed property as there are no pools, facilities and painting of buildings every 5 years. I had run my condo for a couple of years, so i know. Labour cost, utilities, motor vehicle, fuel etc are much lower than Singapore.

I have seen many condos too and I do agree a few are not well run (mainly those put for enbloc) but mine is not one of them.

 

[Chillout]

Yeah at Setia Tropika we have 2 years of free maintenance. My free maintenance is due to end in November this year.

But i guess this may be extended since my precint is not complete yet.

The new tenants too need 2 years of free maintenance right?

So i may end up getting 4 years.

Not bad i guess.

Keeping my fingers crossed now hoping for an additional 2 years of free security.

Just because the precinct is not complete, is no excuse to waive maintenance fee. My precinct is also not complete and we pay maintenance the moment title transfers.

Reason for maintenance fee is also to built up the sinking fund, which will be used for future improvement or additional work. Don't know what is the law here, but in Singapore, developer has to pay towards the maintenance/sinking fund for all unsold properties. So if developer waives your fee, the developer has to make up the shortfall for you coz it is not fair to others who are paying as they will bear the burden for the upkeep of the estate.

I will demand to see the book as I don't intend to pay towards the improvement work, so that the developer can sell their next project well. The wear and tear is due to heavy usage of the roads from construction of new precincts, therefore the cost should go towards the developer not residents. Transparency is the name of the game.

 

[Chillout]

I find it strange that condo maintenance fee in Malaysia seems to be not much cheaper than the condo maintenance fees in Singapore, whereas their condo prices are much cheaper. I have seen one old condo in JB with units asking RM250k to RM370k (depending on condition) and yet their maintenance fee is like 25 ct per sq ft and the condo unit size is about 2200 sq ft.

Condo maintenance in Singapore? I think generally quite ok leh except may be the really old or waiting for en-bloc ones? But one thing is the HDBs are very diligent at painting every 5 years while may not be that frequent for condos.

My sentiment exactly. My believe is nobody bothers to check out the accounts and it is left to the MCST/developer to do what they please. The fee we pay is for service rendered but one do not just quietly accept whatever is thrown your way and kowtow with a thank you for fear of being labelled complaint queen/Singaporean. This is nonsense as we are not living in public housing run by town council.

In LF, Mulpha will not hand over the running of the estate to the residents which has its pro and cons. It would be ideal if we get to vet the accounts and make sure that they do not conveniently pass some of the construction cost for new precincts to us.

Not true that condo does not need to be diligent with painting every 5 years. All buildings are required by law to paint every 5 years. Can stretch another year or so if the condition is still good.