Medini (Nusajaya) Community

[nextreal]

1) 1 bedroom, 678 sqft, M$ 518K.( ) morning sun good facing coz all hand picked by agents for themselves.
2) 2 bedroom, 1055 sqft, M$ 805K. (~763psf ) north south facing.
3) 2 bedroom, 947 sqft, M$764K. vey high floor with good view.

3) looks like the best bet.

But I like my Meridin more.

 

[teega]

What do you mean by "overbooked" and then "unload"? They are not allowed to flip in Malaysia. That is one thing which I do not like Huttons.. bringing in their balloting and flipping attitude into Msia. If the developer close one eye and allow this, they may get into major problems with the authorities. Once they get blacklisted by the authorities, it's very difficult for them to bid for land again.. especially so in Nusajaya..

Anyone bought Parisdiso 99yrs, now the price jumped and hit around 900+ psf!! I sent in cheques but did not get...:(

Huttons agents who overbooked Iskandar Residences @ Medini is now scrambling to unload some units and cost price, ~ 700+psf, please PM me if you see this as opportunities.. personally I think the potential is good coz so close to Puteri Harbour...

1) 1 bedroom, 678 sqft, M$ 518K.( ) morning sun good facing coz all hand picked by agents for themselves.
2) 2 bedroom, 1055 sqft, M$ 805K. (~763psf ) north south facing.
3) 2 bedroom, 947 sqft, M$764K. vey high floor with good view.

Think agents will be penalized by developer if they booked 8-9 units and fail to pick up ALL!!

Good Luck, too bad I cannot stomach leow...:(

 

[nextreal]

What do you mean by "overbooked" and then "unload"? They are not allowed to flip in Malaysia. That is one thing which I do not like Huttons.. bringing in their balloting and flipping attitude into Msia. If the developer close one eye and allow this, they may get into major problems with the authorities. Once they get blacklisted by the authorities, it's very difficult for them to bid for land again.. especially so in Nusajaya..

It's not Huttons. It's the system which some developers allow backing out with full refund of booking fees so long as SPA is not signed. Apparently, I learnt that some developers allow this on the reasons that they are confident that (1) you will not ask for a refund, and (2) even if you do, they can sell it easily eventually.

I thought about it when my friend booked a unit at CG@DB and told me about this "scheme". The is really no real benefit for a developer to allow booking fee refund than to encourage "flipping", so that asking prices will be artificially raised.

 

[Chocolate]

It's not Huttons. It's the system which some developers allow backing out with full refund of booking fees so long as SPA is not signed.

Huttons contributes in a big way by creating the HYPE. Their agents do their best to persuade would be buyers to give cheques even if the buyer is 100% sure they're not buying, reason being they just want to show they have so many cheques. For The Face @ KLCC I told my agent we are 100% not buying but he still asked us for a cheque , saying nevermind, later can reject.By collecting cheques they give the impression the demand is so great but in actual fact some buyers arent keen, others can't afford to buy. Just look at how many returned units they have for Iskandar Residences. For IR, I was there when they did the draw for ballot numbers and I could see agents persuading some very reluctant buyers, simply ebcause they had good 'queue' numbers.Isnt it better to size up buyers and just sell to qualified and keen buyers?
Its just a sales tactic, by creating hype, they can line up more buyers for future launches. Please don't fall for it!

 

[xxkiwi]

Was there at the Meridin site office/showroom. Last tower min price is about RM750 /psf. Early buyers of towers A and C definitely had a good buy. Looking at the sales chart, a few choice units are still available. Phase II also looks like going to launch soon.

 

[comfy]

Honestly speaking, it is going to be hard to find units at Medini Area to go for $700+ psf anymore.... I think the developer already raised price by 5% or equivalent of 40-50K for the remaining units........any future launch is going to be in the range of 900-1000psf.

again....i am personally vested in IR, and continue to think that this is going to be one good investment in 3-5 yrs...

Was there at the Meridin site office/showroom. Last tower min price is about RM750 /psf. Early buyers of towers A and C definitely had a good buy. Looking at the sales chart, a few choice units are still available. Phase II also looks like going to launch soon.

 

[sgcount]

It's not Huttons. It's the system which some developers allow backing out with full refund of booking fees so long as SPA is not signed.

Huttons contributes in a big way by creating the HYPE. Their agents do their best to persuade would be buyers to give cheques even if the buyer is 100% sure they're not buying, reason being they just want to show they have so many cheques. For The Face @ KLCC I told my agent we are 100% not buying but he still asked us for a cheque , saying nevermind, later can reject.By collecting cheques they give the impression the demand is so great but in actual fact some buyers arent keen, others can't afford to buy. Just look at how many returned units they have for Iskandar Residences. For IR, I was there when they did the draw for ballot numbers and I could see agents persuading some very reluctant buyers, simply ebcause they had good 'queue' numbers.Isnt it better to size up buyers and just sell to qualified and keen buyers?
Its just a sales tactic, by creating hype, they can line up more buyers for future launches. Please don't fall for it!

True but actually this is not the full picture. It's not only to create the false impression of good sales that agents ask for the cheques whether one decides to buy or not. Remember, for every successful sale, they get commission. No cheque means confirm they got no sale. With a cheque, buyers who think they may not buy before the official balloting day could change their minds last minute.

It's a well-known fact that property is a dirty game. To do well, agents usually resort to telling half truths to their clients, try underhand tactics like mass booking units and selling them off later for "under table" money, backstab other agents, etc. I have a colleague who became a part-time agent. He lives in a HDB flat and earns only a few thousand $ from his day job. Within less than a year of work, he could pay full in cash for a car. But he quit after that cos he is an honest chap. Said it is not his character at all to do the dirty stuffs to be successful in this line and he would rather not earn that kind of money.

I have not heard of any returned IR units cos I did check with Huttons. If you see any now, it's all undertable type of mass booking. Actually, the mercy is not on the buyer but the agent. If they can't find a buyer, I was told they will lose all their booking deposit. But they tempt you with pre-booked units, and the choice is up to you: Pay thousands of $ commission to the agent and get your unit, or the unit will be returned to the developer who will sell it even higher. If you are an upright person who wants to boycott such tricks, then don't buy from such agents. But if you are desperate to have the unit, you really have no choice. The agent who is at your mercy, now turns around and you are at his mercy instead.

The above is what has been happening to CG Danga Bay.

 

[Chocolate]

But if you are desperate to have the unit, you really have no choice. The agent who is at your mercy, now turns around and you are at his mercy instead.

.[/QUOTE]

We do have a choice, not necessary to buy from SG agents. I got my IR unit from a Malaysian agency. I will not buy thru SG agents , especially Huttons. My advice to buyers is don't trust what they tell you here , shocking but like you say, they are just doing this for money and are willing to say anything to clinch the deal.

 

[FHBH12]

Some good agents from Singapore will help you talk to the developer should you have some problems e.g. loan application delays or extension of payment deadline etc.

 

[comfy]

guess we all understood that property industry is not a place you find fair play, or market efficiency......but how many industry are truly fair play? sigh.

So if one simple objective is to get a unit of property either for own stay on investment, then the formula is very simple
1) first you must be able to get it, given whatever system....manual q, VIP, prelaunch, mass booking, know someone, as long as not illegal..
2) then get the unit with the "best" available market price...

Just my thoughts,
Cheers!!

But if you are desperate to have the unit, you really have no choice. The agent who is at your mercy, now turns around and you are at his mercy instead.

.

We do have a choice, not necessary to buy from SG agents. I got my IR unit from a Malaysian agency. I will not buy thru SG agents , especially Huttons. My advice to buyers is don't trust what they tell you here , shocking but like you say, they are just doing this for money and are willing to say anything to clinch the deal.[/QUOTE]

 

[potter]

Learn how to say no lor, like a child.

 

[Chocolate]

Pls note that quote in Comfy's post isnt mine, I was quoting someone else. Btw, I dont why buyers are desperate to get a unit when there are so many launches to choose from? If I didnt get the IR unit I would have gone for Meridin which still had high floor seaview units when I bought my IR. Don't worry if you miss the bus, the next bus will eb coming along soon.

 

[sgcount]

Hi chocolate, unless you book early for the old tower, the Meridin is now more expensive than IR by psf.

And as for facilities, IR is better. Has sky garden per block and layout and features are more appealing. Medini has a unique curvy design but loses out to IR on the facilities. IR should be attractive to your tenants or if you want to live there yourself.

Also for Meridin, you need to be really high to see beyond. Higher units cost more $$ of course.

Just my opinions. Feel free to agree or disagree.

I'm not sure if Meridin is 99 or 129 yrs. I had the impression that it's 99? Anyone can confirm?

 

[xxkiwi]

According to lawyer when signing the S&P, all Medini are 99 plus 30(at the end of lease).

 

[Newbie11]

Extension of 30 is not a 100% deal

 

[xxkiwi]

Extension of 30 is not a 100% deal

Yep, most will not be around to see it happen anyway.

 

[FHBH12]

I suspect +30 needs to pay again for extension. Shd treat them as 99 LH in ur analysis.

 

[teega]

Interesting analysis, Sgcount. I never knew that Spore agents can do pre-booked units and pay booking deposit. Is this a new thing or only in CG Danga Bay?

True but actually this is not the full picture. It's not only to create the false impression of good sales that agents ask for the cheques whether one decides to buy or not. Remember, for every successful sale, they get commission. No cheque means confirm they got no sale. With a cheque, buyers who think they may not buy before the official balloting day could change their minds last minute.

It's a well-known fact that property is a dirty game. To do well, agents usually resort to telling half truths to their clients, try underhand tactics like mass booking units and selling them off later for "under table" money, backstab other agents, etc. I have a colleague who became a part-time agent. He lives in a HDB flat and earns only a few thousand $ from his day job. Within less than a year of work, he could pay full in cash for a car. But he quit after that cos he is an honest chap. Said it is not his character at all to do the dirty stuffs to be successful in this line and he would rather not earn that kind of money.

I have not heard of any returned IR units cos I did check with Huttons. If you see any now, it's all undertable type of mass booking. Actually, the mercy is not on the buyer but the agent. If they can't find a buyer, I was told they will lose all their booking deposit. But they tempt you with pre-booked units, and the choice is up to you: Pay thousands of $ commission to the agent and get your unit, or the unit will be returned to the developer who will sell it even higher. If you are an upright person who wants to boycott such tricks, then don't buy from such agents. But if you are desperate to have the unit, you really have no choice. The agent who is at your mercy, now turns around and you are at his mercy instead.

The above is what has been happening to CG Danga Bay.

 

[sgcount]

Interesting analysis, Sgcount. I never knew that Spore agents can do pre-booked units and pay booking deposit. Is this a new thing or only in CG Danga Bay?

The stories I've heard come from my colleague. But I don't think it's appropriate, or wish to elaborate here on the details. It will not be nice to get innocent people implicated also.

To be successful in this business, the straight, truthful path will get one nowhere. There are some risks and "backdoor" methods to take but for the sake of money, they'll do it.

Precisely why my colleague left the property line because he is too honest for his own good.

 

[comfy]

but my understanding is for Iskandar Residence (IR) it is done with the +30yrs extension??

Extension of 30 is not a 100% deal