Living in JB

[wuqi256]

Horizon Hills, 79100, Nusajaya, Johor

So sorry, missed this question. Thanks Mathstub!
HH, you need to add one more part to the address:
The Gateway

 

[mathstub]

Bro Wuqi, you're right, also the precinct name as well, thanks.

So sorry, missed this question. Thanks Mathstub!
HH, you need to add one more part to the address:
The Gateway

 

[wuqi256]

Hi Cleyeo, last post before I sleep....

It will always be progressive payment to developers for properties under construction; whether finance by the bank or paid in cash by yourself. As construction is completed stage by stage, the developer's lawyer will request for payment, up to the stage of the construction completion. This is known as progressive payment; meaning as the construction progresses, bank makes payment.

For bank loans, foreigners can only loan up to 80% most of the time; 90% will be for Msians. And if you have 2 home loans in MY, your 3rd home loan is restricted at 70% only, I believe should be for both Msians and foreigners (correct me if I'm wrong). The 70% restriction only applies to residential loans; meaning if you buy a commercial property, it does not count towards the 70% restriction policy. So, depending on your approved loan amount, you could either be paying 10%, 15% or even 20% downpayment to the developer upon SPA signing.

The banks have various packages; need to ask the bank officer or mortgage consultant to advise you on the differences. I have a mix of flexi and non-flexi loan. Flexi loan is where your current account is tied to your home loan account and whatever cash you deposit into your current account will be used to offset your principal amount owed, thus resulting in less total interest paid and therefore shorter tenure; but this usually comes with a RM10 maintenance fee charged by the bank. Non-flexi accounts just means you pay your installment on a monthly basis, no maintenance fee on your savings account.

Buyer starts paying he loan upon receipt of vacant possession, or the owner can also make advance payment over the counter during construction period and inform the bank officer to deduct the amount towards your principal or loan amount.

Yes, progressive payment is handled by the bank. However, based on past experience and also hearing from others, some banks are slow to disburse the money resulting in the developer charging 10% pa interest on the amount owing. After 2-3 years (landed or high-rise), the amount of interest charged can amount to thousands of RM. So, best bet is to follow-up closely with the bank and the credit dept of the developer to make sure you don't have any outstanding.

I stand corrected here, i did get the progressive no matter whether i used bank or not. For the houses that i bought with cash, it was a portion each time they finish a part until the end when it was completed.

I would still defer to the professional here though.

Couple of quick clarifications:

Banks like EON banks offer the flexi way but really do charge the 10 MYR monthly
90% was actually possible for foreigners but now most banks will lend only up to 80% or 85%. Most bros i know got 85-90% easily when they first came here though 80% is more the norm now. A friend of mine recently still got 85% though but he is doing pretty ok.
70% for third residential property can be circumvented in a way by using wife name solely for first batch of 2 houses and then husband for second batch of 2.

Commercial property loan, it really depends on whether the bank feels comfortable to extend a loan after they see you loans for property as well as how well or regular you make the monthly payments. Their Credit Bureau is pretty efficient here even if you buy multiple properties at once. The caveat bro Vincentck has pointed out is good though, to chase the lawers and then banks to make sure the payment goes through. The banks will normally inform you. Its best to chase as the state consent also has a time limit.

 

[wuqi256]

I think it is still cheap if you buy at the right location, price and developer. The problem I see it is people think that the whole JB is price at a premium . Sometime I wonder where is the real saving we were talking about at the begining of the thread 3yrs ago. Assuming you buy a house 1M = 450K SGD , you need a SG car , a JB car and toll charge / petrol / times.
With this kind of money a retirees can find a humble HDB pigeon hole , move around in MRTs , eat at hawkers .
Anyway I still feel is great buy if you have the money , quality of life is better than living in pigeon hole lah, saving is not that great already . If you are buying in very high end development , maybe cost of living higher than in SG leh .

For early adopters though, savings still the same. At least 5 relatives will get to stay here long term FOC anytime they want at least until the day my ashes get scattered into the sea or (after being sanitized) shot through a fireworks shell or shot as out with .454 Casull ammunition, you get the picture.

Glad most of my close family, close friends as well as some good forummer bros made the move early.

 

[mathstub]

I agree the quality of life is better in JB. This is why I myself have also bought a landed property there. I just don't feel comfortable with the fact that some developers increase the prices drastically within a short period of time (sometimes within a month) and have a mindset that they are selling at a "cheap" price to us and we will rush to buy no matter what. When you look at the total amount you end up paying, that amount is not really that small.

I think it is still cheap if you buy at the right location, price and developer. The problem I see it is people think that the whole JB is price at a premium . Sometime I wonder where is the real saving we were talking about at the begining of the thread 3yrs ago. Assuming you buy a house 1M = 450K SGD , you need a SG car , a JB car and toll charge / petrol / times.
With this kind of money a retirees can find a humble HDB pigeon hole , move around in MRTs , eat at hawkers .
Anyway I still feel is great buy if you have the money , quality of life is better than living in pigeon hole lah, saving is not that great already . If you are buying in very high end development , maybe cost of living higher than in SG leh .

 

[mathstub]

I got 90% loan 2 to 3 weeks ago. Not sure I will get the same % if I decide to buy and apply loan now instead of 3 weeks ago.

Regarding using wife's name to circumvent the 70% third loan limit problem, the wife needs to have a high enough income level, right?

All the flexi plan requires a monthly payment fee. Taking into account this fee, Bros here prefers flexi plan or non-flexi plan?

I stand corrected here, i did get the progressive no matter whether i used bank or not. For the houses that i bought with cash, it was a portion each time they finish a part until the end when it was completed.

I would still defer to the professional here though.

Couple of quick clarifications:

Banks like EON banks offer the flexi way but really do charge the 10 MYR monthly
90% was actually possible for foreigners but now most banks will lend only up to 80% or 85%. Most bros i know got 85-90% easily when they first came here though 80% is more the norm now. A friend of mine recently still got 85% though but he is doing pretty ok.
70% for third residential property can be circumvented in a way by using wife name solely for first batch of 2 houses and then husband for second batch of 2.

Commercial property loan, it really depends on whether the bank feels comfortable to extend a loan after they see you loans for property as well as how well or regular you make the monthly payments. Their Credit Bureau is pretty efficient here even if you buy multiple properties at once. The caveat bro Vincentck has pointed out is good though, to chase the lawers and then banks to make sure the payment goes through. The banks will normally inform you. Its best to chase as the state consent also has a time limit.

 

[wuqi256]

I passed by the construction site (beside Jusco) for TGV (right opposite to McDonalds). TGV seems to be in a completely separate building. If I did not see it wrongly, the TGV seemed to be of several storeys. Any Bro can confirm?

Its looking like it may have its own covered carpark but the buildings are linked. There are talks of developments in the still empty plots of land further down from Jusco as well as opposite Jusco where they are going to develop (Setia) it as its commercial plot

 

[jasonjst]

For early adopters though, savings still the same. At least 5 relatives will get to stay here long term FOC anytime they want at least until the day my ashes get scattered into the sea or (after being sanitized) shot through a fireworks shell or shot as out with .454 Casull ammunition, you get the picture.

Glad most of my close family, close friends as well as some good forummer bros made the move early.

Fortunately we all made it early, but not too late lah , just buy something simple will do .

 

[wuqi256]

Went there to EL to visit a friend..then went to show flat..and bought a unit for my retirement needs since its only ready in 2014.and I liked the whole neighbourhood,and the fact that it would be next to the International school. I am not one for Landed units since I dont plan on living there permanently -so a condo works better for me as I will have less to worry about security ect..when its empty for extended periods.Price wise..I think its still very worthwhile.. surprisingly I was told thast most units have been taken up by locals. There's some comfort in that -it must still repreent good value/potential for appreciation if there is strong local demand. Who knows..I m happy to get the unit whatever the outcome. Its basically the same price as that of a good European sedan with a 10 yr life span in Singapore and still represents good value for money.

Hi Lizzert, you got the Impiana is it? Brought friends over very recently, no landed left so only condos. Saw units at Imperia as well, 700 plus psft but featuring a lot of nice add ons like centralized vacuum, aircon and grohe toilet stuff.

 

[wuqi256]

Fortunately we all made it early, but not too late lah , just buy something simple will do .

Agree, still in buying mode actually pending the outcome of my EOI but must conserve bullets.


To the bro who emailed me,
Yes, you are right, it really is an alternative lifestyle. It is fast becoming something that I expected only in another 2 years time.
My pleasure, it was also your own guts and gumption. I know there must have been lots of people saying nay to you when you
talked about it to them. Rather than believe them and never daring to see for yourself, you took the plunge.

 

[wuqi256]

Searching "car polish" didn't get me any results.

Any recommendation for good car polishing and interior cleaning services in JB ?
I know there's a "Cars international" at Tebrau City basement carpark but I dun wanna take a package.
Thanks.

Go straight to Giant near Bukit Indah if you are around the area. Go to their covered carparks.

 

[jasonjst]

Its looking like it may have its own covered carpark but the buildings are linked. There are talks of developments in the still empty plots of land further down from Jusco as well as opposite Jusco where they are going to develop (Setia) it as its commercial plot

Already so jam pack even before the TGV open . Where got place for parking ? I try not to go out there on the weekend , haha !

 

[mathstub]

Any idea what the building under construction is, I mean the one behind McDonalds, next to Bukit Indah Bus interchange (to take causeway link)?

 

[Sanur]

Hi

Just a note. Have used CHL movers. Reliable n friendly. Need no declaration documentation.

 

[Sanur]

Hi

Anyone have quote from builders in Jb? Just got my quote, its rm 240 per sq ft, include a pool. Any other info?
Thanks

 

[Puteri harbour]

Thanks investors. I have similar views as you.

Many thanks,
PH

I'm sharing the reasons why I've invested in East Ledang (my personal point of view);

1) Presently the closest high-end residential property to Singapore via 2nd Link.
2) Located right after the exit to Nusajaya City, thus the best location to avoid any traffic jam in the future when the City is bustling.
3) Located right beside Nusajaya's CBD - Medini(99 years leasehold Prime land of Nusajaya). Just like living in Paterson Rd/ Scotts Rd beside Ion Orchard.
4) Located right beside the very successful EduCity, thus demand for rental of properties in East Ledang is good in future.
5) Good materials and build quality, eg. Polished and non-polished homogeneous tiles for almost everywhere in the house instead of ceramic tiles.
6) Reliable developer, UEM Land, which is a government linked company and also the land owner and master developer of Nusajaya.
7) Presently proven to be the most sought after landed development in Johor based on the take-up rate of previous launches. Phase 8 terraces launched early this year at prices between RM 660k to RM1 million were all snapped up within 1 week. All previous launches were Fully sold, not a single unit left.
8) Most mega investments have selected Nusajaya for their developments. To be exact - mostly selected Medini till date. (Booming city equals capital appreciation)
9) Kota Iskandar, Johor State New Administrative Centre, is also in Nusajaya. Thus it gave me more faith in the future of this city.
10) One of the most high-tech security system (Perimeter intrusion detection system, perimeter CCTV with infra-red and VDM, plate recognition system, vehicle movement tracking facility at each phase, boom gate, emergency intercom, outdoor pan-tilt-zoom CCTV along main road, panic button)
11) No need to pass thru any older taman or estate in order to get to East Ledang, thus the feel good factor about the whole environment outside East Ledang.
12) Freehold

Thus, investment wise, I've chosen East Ledang.
But for own weekend stay and lifestyle, I prefer HH's The Hills Precinct where I can enjoy an elevated and unblocked view, cool fresh air from the golf greens all around.

 

[Puteri harbour]

In singapore, For good finish the land was half the cost in 2004, 55% the cost in 2008 and 75% the cost today. Despite the increase in construction cost, land/ construction cost ratio continue to surge. As such I believe that land price in JB should surge for those that is near to the coast and city. House price can only increase with time due to higher land prices and higher construction cost. That is why real estate investor are usually rich provided they have sufficient cash to ride through all the property cycle in their lifetime.

Cheers,
PH

One thing to always remember is the built-up makes a significant difference to selling price. Hence a house with 2000 sft built up should cost say, 20% less than a house with 2500 sft built up, etc... unlike in SG whereby the land takes up 2/3 of the costs. Do not be "fooled" by the seemingly low price... look for built up

 

[yonglip]

Any idea what the building under construction is, I mean the one behind McDonalds, next to Bukit Indah Bus interchange (to take causeway link)?

i think u referring to the granada hotel bro..

 

[yonglip]

some bros here say bukit indah maciam bukit timah...i beg to defer la..bukit timah is more residential value...bukit indah not only has residential value, the places around tesco/giant/jusco will be developed with more shops and restaurants in another few years time, it will be the de facto orchard road of johor.

i sometimes wonder whether the developers are getting too ahead of themselves by squeezing so much commercial development in that area...its like someone ate his first durain, liked it and ordered one lorry load!!...indigestion!! haha.

 

[ShawnLow]

some bros here say bukit indah maciam bukit timah...i beg to defer la..bukit timah is more residential value...bukit indah not only has residential value, the places around tesco/giant/jusco will be developed with more shops and restaurants in another few years time, it will be the de facto orchard road of johor.

i sometimes wonder whether the developers are getting too ahead of themselves by squeezing so much commercial development in that area...its like someone ate his first durain, liked it and ordered one lorry load!!...indigestion!! haha.

If anyone of u been sutera mall area, that place is also a packed Zone. As u can see the skyroof and some shoplots are ubder construction nw in bukit indah, i blive once its completed it will js like the sutera area full of shops and foods and entertainment. I myself a johorian never expect everything pop up like tt...lol