I tot KL condo is oversupplied in 1-2 years' time.
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New developments to share
- Thread starter wuqi256
- Start date
I tot KL condo is oversupplied in 1-2 years' time.
This is one of the articles I have come across: http://www.starproperty.my/index.php/featured/cautious-2013-property-market-outlook/
it's oversupplied now. in fact KL next few year prices may not go up further (my guess only, hor). if one look at propwall.com (i love those development preview pages, horrible grammar notwithstanding!), those famous developer condo at good location (say mont kiara) price already stagnant for past few years. but having said that, if one bot very early during prelaunch with all the discounts.. when get key, likely have a little meat to make (for speculators). based on sunway record in the area, geo "looks good" and also monash u nearby. however, i still don't know the pricing. maybe darth vader can enlighten.
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Monash expansion,sunway college, sunway international school, taylor college, sunway medical centre, sunway pyramid, sunway geo retail, and a not confirmed collaboration with Havard. i heard the sunway geo retail are priced from RM4 - 8 millions and mostly snapped up. seem like a good investment as all infrastructure already there. But i'm not 100% sure as we have all big investors in this forum 
but still keep my eye open in JB, iskandar.
but still keep my eye open in JB, iskandar.I think for most of us retail investors, to buy 1 property in JB for fun (play play if you know what I mean) is ok. To plonk RM4-8 million in a jungle like JB is too risky. its the land of flip flop policies after all.
Monash expansion,sunway college, sunway international school, taylor college, sunway medical centre, sunway pyramid, sunway geo retail, and a not confirmed collaboration with Havard. i heard the sunway geo retail are priced from RM4 - 8 millions and mostly snapped up. seem like a good investment as all infrastructure already there. But i'm not 100% sure as we have all big investors in this forum
I read some developers' sales at KL were very good, especially those near LRT/MRT stations. I think by this time all the upside would have already priced in by developers, so buyers are really exposed to much higher risk.
sunway geo is in KL. actually, it's in a outskirt of KL called Puchong, next to subang jaya.
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Monash expansion,sunway college, sunway international school, taylor college, sunway medical centre, sunway pyramid, sunway geo retail, and a not confirmed collaboration with Havard. i heard the sunway geo retail are priced from RM4 - 8 millions and mostly snapped up. seem like a good investment as all infrastructure already there. But i'm not 100% sure as we have all big investors in this forum
i think it's quite far from taylor college, sunway medical centre and sunway pyramid. it looks like it's in puchong. had an office in SS17 back in 2003-2004. have you gone on site to recce the place. don't just depend on the brochure. Funniman should know the place well, too.
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I stay something like 10 minutes drive away from Sunway. I go there every week.
Yes, it is far away from Taylor, Inti or Metropolitan college, walking wise but if you drive it is about 10 minutes.
Sunway Geo is close to Monash University and Sunway Uni as well. Sunway Medical is also close by. Sunway Pyramid is about 15 minutes walk.
There's bus transport. The nearest MRT station which is 15minutes walk now under construction would be at Summit Shopping complex, there's a mixed development now called Da men (Big Door) by HK Li Ka Shing group.
Geo's location is in the lower ground, actually on the slope of a old mining pool. Sunway is actually a reclaimed ex tin mining ground.
There's a good supply of condos in the vincity as this place is establised township. No risks area with moderate yield but cap appreciation might be slow. Geo had been launched for many months, I suspect the take up rate is slow.
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just googled the residences. not cheap... 829 sf 766K . location seems alright with the universities around. i gotta check this place out again next time i'm in KL.
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Medini is exempted by the 1M ruling as you said...so good for them.....so is CG...it is also exempted from the 1M ruling...so what are you saying?
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Medini is exempted by the 1M ruling as you said...so good for them.....so is CG...it is also exempted from the 1M ruling...so what are you saying?
AFAIK CG not exempted. unless you got latest newspaper report. in fact, medini also NOT CONFIRM exempted yet. errr??? i also blur what you are saying. why? you bought CG is it? nice place what.
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PETALING JAYA: A new circular from the central bank that took effect last Friday will pile more pressure on an already hard-hit property sector, even if its merits are likely to be felt in the long-term, analysts and industry executives said.
In a bid to make the property market sustainable, the new rules have put the brakes on interest capitalisation schemes (ICS) and the developer interest-bearing scheme (DIBS).
It also calls for the use of the net selling price of a property as the benchmark for obtaining bank loans, which raises the amount to be paid upfront.
Alliance Research’s banking analyst Cheah King Yoong said the measures were “more onerous” than anticipated and posed downside risks to his 9% loan growth estimate for the banking sector next year.
“Although the guidelines on the prohibition of the DIBS was not a surprise, the new rule on using the net selling price to determine the loan-to-value (LTV) ratio is a negative surprise to us.
“While it is difficult to gauge the impact on banks, the fact that this new rule applies to all property financing, including first-time home buyers, means that property buyers’ affordability will be affected, and this will lead to lower property loan growth,” Cheah said in a report yesterday.
“We believe the latest policies illustrate the sheer determination of the authorities to contain the growth of household debt.
“These measures, together with potential rate hikes in 2014, fiscal tightening by the federal government and subsidy rationalisation next year, could further drag on loan growth in the retail segment, temporarily leading to a rise in credit costs, and dampen investor sentiment on the banking sector,” he added.
The circular prohibits financial institutions from granting end-financing facilities to individuals or non-individuals for the purchase of property offered under an ICS, including the DIBS.
Financial institutions are also barred from granting a bridging facility to finance a property development that offers ICS.
According to Alliance Research’s Cheah, this effectively removes any alternative incentives that developers might concoct to replace the DIBS.
“Nonetheless, our channel checks show that for the banking groups under our coverage, property loans with the DIBS only made up 1% to 3% of their outstanding mortgages,” he said.
Affin Bank is the exception, with some 7% of its mortgage loanbook comprising loans tied to the DIBS.
“Given that property loans with the DIBS are immaterial to overall outstanding mortgage loans as well as new mortgage loans approved, we do not expect the restrictions to have a significant impact on the banking sector,” Cheah said.
Public Bank has the highest exposure to housing loans at 56% of its gross loans, followed by Alliance Bank with 55% and Hong Leong Bank, 46%, company data showed.
Another key item on the circular requires banks to calculate the LTV ratio based on the net price of a property instead of its gross price.
To illustrate, a property with a list price of RM1mil, rebate of 5% and 90% financing would incur a down payment of RM50,000 after discount.
Under the new regime, the down payment increases to RM95,000 because the 90% loan will be computed using the discounted price tag of RM950,000.
While property executives expect a slowdown in sales, they believe that genuine buyers will remain undeterred.
Mah Sing Group Bhd group managing director and CEO Tan Sri Leong Hoy Kum told StarBiz via email that demand for properties would continue to be robust, especially among those buying to own or for long-term rental income.
“There is still a large supply-demand gap as supply growth for properties has been on a decreasing trend since 2003, with Malaysia’s supply growth in the second quarter of this year at only 0.8%.
“The fundamentals driving the property market’s growth in recent years have not changed, for example a younger population leading to new household formation, a rising middle-income group, the supply-demand gap and stable employment.
“Initiatives in Budget 2014 may remove the speculative element, but not the fundamentals,” he said.
Leong noted that the lending environment was still conducive, with low interest rates and banks offering BLR minus 2.4%, from BLR minus 2.1%-2.2% a year ago.
Mah Sing had stopped offering the DIBS for most of its launches since the start of the year. None of its projects in Iskandar Malaysia feature the DIBS.
In a bid to make the property market sustainable, the new rules have put the brakes on interest capitalisation schemes (ICS) and the developer interest-bearing scheme (DIBS).
It also calls for the use of the net selling price of a property as the benchmark for obtaining bank loans, which raises the amount to be paid upfront.
Alliance Research’s banking analyst Cheah King Yoong said the measures were “more onerous” than anticipated and posed downside risks to his 9% loan growth estimate for the banking sector next year.
“Although the guidelines on the prohibition of the DIBS was not a surprise, the new rule on using the net selling price to determine the loan-to-value (LTV) ratio is a negative surprise to us.
“While it is difficult to gauge the impact on banks, the fact that this new rule applies to all property financing, including first-time home buyers, means that property buyers’ affordability will be affected, and this will lead to lower property loan growth,” Cheah said in a report yesterday.
“We believe the latest policies illustrate the sheer determination of the authorities to contain the growth of household debt.
“These measures, together with potential rate hikes in 2014, fiscal tightening by the federal government and subsidy rationalisation next year, could further drag on loan growth in the retail segment, temporarily leading to a rise in credit costs, and dampen investor sentiment on the banking sector,” he added.
The circular prohibits financial institutions from granting end-financing facilities to individuals or non-individuals for the purchase of property offered under an ICS, including the DIBS.
Financial institutions are also barred from granting a bridging facility to finance a property development that offers ICS.
According to Alliance Research’s Cheah, this effectively removes any alternative incentives that developers might concoct to replace the DIBS.
“Nonetheless, our channel checks show that for the banking groups under our coverage, property loans with the DIBS only made up 1% to 3% of their outstanding mortgages,” he said.
Affin Bank is the exception, with some 7% of its mortgage loanbook comprising loans tied to the DIBS.
“Given that property loans with the DIBS are immaterial to overall outstanding mortgage loans as well as new mortgage loans approved, we do not expect the restrictions to have a significant impact on the banking sector,” Cheah said.
Public Bank has the highest exposure to housing loans at 56% of its gross loans, followed by Alliance Bank with 55% and Hong Leong Bank, 46%, company data showed.
Another key item on the circular requires banks to calculate the LTV ratio based on the net price of a property instead of its gross price.
To illustrate, a property with a list price of RM1mil, rebate of 5% and 90% financing would incur a down payment of RM50,000 after discount.
Under the new regime, the down payment increases to RM95,000 because the 90% loan will be computed using the discounted price tag of RM950,000.
While property executives expect a slowdown in sales, they believe that genuine buyers will remain undeterred.
Mah Sing Group Bhd group managing director and CEO Tan Sri Leong Hoy Kum told StarBiz via email that demand for properties would continue to be robust, especially among those buying to own or for long-term rental income.
“There is still a large supply-demand gap as supply growth for properties has been on a decreasing trend since 2003, with Malaysia’s supply growth in the second quarter of this year at only 0.8%.
“The fundamentals driving the property market’s growth in recent years have not changed, for example a younger population leading to new household formation, a rising middle-income group, the supply-demand gap and stable employment.
“Initiatives in Budget 2014 may remove the speculative element, but not the fundamentals,” he said.
Leong noted that the lending environment was still conducive, with low interest rates and banks offering BLR minus 2.4%, from BLR minus 2.1%-2.2% a year ago.
Mah Sing had stopped offering the DIBS for most of its launches since the start of the year. None of its projects in Iskandar Malaysia feature the DIBS.
Draft Master Plan 2013: http://www.ura.gov.sg/MS/DMP2013/re.../dmp2013/additional-plans/N-Region-final.ashx
The MRT extension location from Singapore towards Johor has been confirmed on page 2 of the above document. Huat for those who bought JB city center. I'm expecting spill-over effect to the landed properties in Tebrau area (I'm vested).
The MRT extension location from Singapore towards Johor has been confirmed on page 2 of the above document. Huat for those who bought JB city center. I'm expecting spill-over effect to the landed properties in Tebrau area (I'm vested).
yey! by 2018?
Medini is exempted by the 1M ruling as you said...so good for them.....so is CG...it is also exempted from the 1M ruling...so what are you saying?
Medini is a special zone, likely to be exempted. And if so, it will remain exempted for resale units as well, beyond May 2014. But CG as far as I know, its only exempted for developer units, as in the case of other current launches and those that are approved prior to May 2014. If they have units left unsold after May 2014, these units will still be exempted as they were approved before May 2014. But resale units in these projects wont enjoy this.
exactly. but note that medini still not officially exempted.
Read the fine print:
"The content herein does not form part of the Draft Master Plan 2013 and is for information only. All information (including all texts,
maps and illustrations) provided herein is updated as at October 2013 but may be subject to change depending on developmental
needs. While reasonable endeavours have been made to ensure the accuracy of the information provided, locations shown in the
maps as well as illustrations are indicative only, and the Urban Redevelopment Authority does not warrant the accuracy or
correctness of all information provided. The Urban Redevelopment Authority disclaims all liability for any injury, loss or damage
whatsoever that may arise as a result of any inaccuracy, error or omission in the information provided."
what is VP?
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