Of course there are many wealthy Malaysians, more than the number of wealthy Singaporeans due to the sheer size of the population. But Malpaso was referring to the middle class( whose budgetis likely to be not more than 500K, likely around 400K or so) and anyway they would mostly not want to spend the money on a condo if they could spend 500K. They would go for landed. Most Malaysians find being cooped up in a small space unbearable. Even the poorer Malaysians are used to having more space.
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Of course there are many wealthy Malaysians, more than the number of wealthy Singaporeans due to the sheer size of the population. But Malpaso was referring to the middle class( whose budgetis likely to be not more than 500K, likely around 400K or so) and anyway they would mostly not want to spend the money on a condo if they could spend 500K. They would go for landed. Most Malaysians find being cooped up in a small space unbearable. Even the poorer Malaysians are used to having more space.
no, that is not what i'm saying. I have malaysian ex classmates who tell me that 500k condo is their limit, they won't buy above that. Btw, they are quite well off. i have a classmate who is retired in KL, she bot a condo in jb for own use, she paid only 350k. she has done well, she has numerous apartment for rental, a few shoplot, and sold off a business recently. she chided me that she "know sgd is now strong, but why buy so expensive condo". so it's not about can afford or not, it's about perceived value for money. for >500k, malaysian prefer to buy house not condo.
but ofcourse there are those malaysian who are wealthy, they may buy a very expensive condo, like in PH. but those are wealthy ones who buy it as a lifestyle buy. hence i qualified my statement.
hope this clarify matters.
exactly! thanks for clarifiyng for me. in fact, my personal opinion is 500k is a lot of money for a 2 bed 800 sft condo, esp in JB. it really must be quite special fto consider buying, for eg facing sea etc. In KL , different story. so really depends on location as well. for eg i wouldn't pay that for sky oasis in tebrau.
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Maybe it is a sign of market direction! As long as buyers think it is worth it, then they will create the new benchmark.
in JB, there are few categories of buyers. The local ones who are used to landed terraces would not want to pay 500k for a condo. They feel it is too expensive and ridiculous as a terrance house cost only 300k max. Another group, mostly younger ones worked abroad b4 would not mind paying a bit more whether it is condo or terrace as long as there's security and peace of mind. That is the trend of future homes against social problems as JB become more developed. More honey means more flies and roaches. But G&G landed is too expensive and beyond reach, therefore they settled for condo. It all depend what individual want and it is very important to know the critical differences of a certain propert b4 one buys it. That seperates the marketibility of the properties when everything is equal between them.
In KL, it is very different. It is location and assessibility. Eg the Star Residences Tower 1 (571 units / 57 storey high) was launched yesterday in KLCC area. It is about 4 minutes walk to the towers. For a 625 sq ft, it cost more than RM 1.0m. When I was there at 11.00am, 70% were sold. KLCC view ones were long gone. Avg price: RM 1.5k to RM 1.8k psf without carpark and no DIBS. But not suitable for me.
The equivalent of KLCC in KL shd be e CIQ in Johor.
Such condos n G&G landed prices in Johor will continue to enjoy a bull run next year.
You quote one ex-classmate...hahaha that represent the market? Hahaha and location? When did she buy her units? And you believe her? has she bought any prime properties lately? hahaha not be naive man, one minute you say people cannot afford, another you talk about perception....wahahhahhaha......and you still have this old thinking that ALL Malaysian like to live in landed...and then you double protect your position saying the wealthy buy lifestyle properties.....so maybe we are talking about perception again? Your perception......malaysia according to malpaso.
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Don't assume what you think is all correct. Most places in Malaysia from Sarawak to Johore does have its appeal on landed properties. It is the urban towns with limited land banks that encouraged condos to be built. Those waterfront properties that is also limited in land have condo as well. Malaysians does have that choice to buy what they wanted and what developers built for them. And in most cases, it is terrace link houses all the way.
Of course, there are exceptions on lifestyle living like what malpaso says.
Maybe the problem with these buyers is they think in terms of Singapore, as in cannot buy such properties at such prices in Singapore so might as well hoot in JB.
That is about $520k SGD, or about the price of a new 2-bedder apartment in Singapore Geylang about 3 years ago. Now the price is about $800k SGD. Probably the buyer needs to hold for about 5 years to see the same capital gain if the location is good.
I dont want to predict anything. When I visit a few showrooms in Singapore recently , all very quiet leh. Only thing that sell are those shoes boxes and 2 small bedroom type below 1M . Is a matter of time they start lowering prices for bigger units . Let say if price in SG lower by 20% in five years time, you still think SGD520K for a JB 2 bedroom is cheap ? If you add the interest rate , holding cost as JB condos not rentable like in SG . Most likely you going to lose a bomb !
BTW I think in 5 years time , JB is still far from Singapore in term of economic developement , human resource development, infarstucture. Just a few MRTs around JB city is nothing.
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I think if cannot buy just wait lor , mai anyhow HOOT . LOL
4 years' time is election time in SG. If prop prices correct by 20%, e govt will be in trouble. Prices in SG will be mostly flat in next 1-2 years, then up again. JB near 1st n 2nd links will still be on e up trend in next 2-3 years for landed. A lot of people from SG r spending weekend n holiday there. Their spending will feed e business owners. There is a fast growing middle class who will either reinvest in SG or JB properties.
Not sure if u have read about e Samsui grandma who din want to burden her family with medical bills n committed suicide recently. SG is not a place for retirement for lower income. I expect more people choosing Malaysia or Thailand for retirement. Rem JB will never be cheap again, but not as expensive as SG.
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My parents is above 70 year old, I bought Sky 88 in August 2012 for the intention to give them good and reasonable price medical service at Peter Lim hospital.
Singapore health care is too expensive.
Singapore health care is too expensive.
If you are sibeh poor type , even go JB also cannot make it one . Everything in a mass , whole nation is at a loss of what to do next lah . Pty high the poor get angry , pty crash the rich get piss off , get rid of FTs gov and companies goes belly up, dont get rid of FTs gov get voted out ... die lah ! LOL
Fortunately we all already set foot in long time ago , now no 1M no talk !
You make a good point abt Lifestyle buy. I am not vested in PH but I think that is one area that will continue to do well with local buyers as many of the units , esepcially the bulk buy, were bought by the well heeled from KL and they can afford to leave their units empty. They may just occupy for holidays, or even leave it empty till they re-sell.
If you want to see REAL money in Malaysia, you have to look at KL, not JB. But KL money will flow to JB for very select projects/areas, so far I think only in PH.
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