New developments to share

[Funniman]

I thought the cooling measures were quite heavy on foreign buyers, particularly the >$1mil RM requirement, when most of the properties are way below $1mil RM. It is like telling foreigners in Singapore that they can only buy >S$3mil properties when most properties are below S$2mil. Most forum members here are already in renovation stage or have already settled in. I think buying interest will return in Q2 this year.

Bankers informed that there's a very high chance that interest rates is going to go up in Q2 of this year. Most developers and buyers are playing a wait and see game.

 

[cow138]

This year will be an interesting period for Iskandar.

I think the buying sentiment is going to go even lower. With the tapering of the US bond buying interest rates will definitely be coming up.
Probably the recent cooling measure came at a wrong time since the economy was naturally slowing down.

 

[RedsYNWA]

Bankers informed that there's a very high chance that interest rates is going to go up in Q2 of this year. Most developers and buyers are playing a wait and see game.

Bankers told me the exact same thing abt interest rates going up, 2 years ago..... haha......

 

[FHBH12]

Bankers informed that there's a very high chance that interest rates is going to go up in Q2 of this year. Most developers and buyers are playing a wait and see game.

US Fed has promised to keep interest rates low while QE tapers. I think closest period for rise in interest rate is end 2015. There are much fewer launches in Q4 2013 and Q1 2014 as developers are waiting for clearer signs. From the postings here and my visits to showrooms, developers appear to be keen to raise their prices for the next phase. So I expect lower volume but dearer prices.

 

[FHBH12]

This year will be an interesting period for Iskandar.

I think the buying sentiment is going to go even lower. With the tapering of the US bond buying interest rates will definitely be coming up.
Probably the recent cooling measure came at a wrong time since the economy was naturally slowing down.

Malaysia's GDP should be quite strong in Q4 2013: http://www.themalaymailonline.com/m...-confident-of-surpassing-5pc-gdp-growth-in-q4. 2014 is likely to retain the same healthy growth in Malaysia, similar to Singapore's projection of healthy GDP of about 4% in 2014. Let's revisit our thoughts again in 2-3 months' time.

 

[FHBH12]

High Court decision paves way for Mah Sing project
Posted on January 8, 2014 | 269 views | Topic : Property News.

PETALING JAYA: Mah Sing Group Bhd can begin registering its interest for its 547-ha Bandar Meridin East freehold township project in Pasir Gudang, now that its sale and purchase agreement and supplemental agreement with Bistari Land Sdn Bhd have been validated by the Johor High Court.

In a press statement, the property heavyweight said the Johor High Court has granted an order to validate both agreements, “paving the way for Mah Sing to conduct its registration of interest exercise for the project”.

The first phase of registration of interest will be for double storey link homes with an estimated built-up from 1,500 sq ft, indicatively priced from RM300,000, linked semi-detached homes with estimated built-up from 1,800 sq ft, indicatively priced from RM400,000 and semi-detached homes with estimated built-up from 2,200 sq ft, indicatively priced from RM500,000.

Bandar Meridin East, which has an estimated gross development value of RM5bil, is a self- contained township.





Other than residential and commercial components for the township, the group also intends to explore retail, recreational and even industrial elements for the township. The project is Mah Sing’s fifth township in Johor since 2000.

“Besides tapping demand from Mah Sing’s existing township of Sierra Perdana just 18km from the new township, there is a ready catchment of 100,000 in Pasir Gudang alone.

“Its location between Pasir Gudang and Tanjung Langsat cum its proximity to Penggerang provides a latent demand for housing.”

The company explained that Bistari Land, or the vendor, had in November 2013 acknowledged that a winding up petition was advertised against them by the Malaysian Highway Authority. “The vendor confirmed that they are taking immediate steps to settle the outstanding sum of RM11.6mil to the petitioner and to have the winding petition withdrawn.”

In a Bursa Malaysia announcement, the company said that, in relation to the winding-up proceedings by the petitioner against the vendor, the court has also allowed the petitioner’s application to stay the winding-up proceedings for eight months.

http://www.starproperty.my/index.ph...ourt-decision-paves-way-for-mah-sing-project/

 

[Chocolate]

I agree. It's likely to be some of the agents trying to offload their units booked earlier by drumming up interest.
The new launches are really slowing down.
As for high value anchor tenants, I agree that it's unlikely to pull crowds given the profile of the surroundings. A good example will be cold storage at Plaza Pelangi.
About 40 percent of that place is empty. The surrounding crowd can't really justify the rentals and returns.

In time to come this area may have more buzz but the concept of an "International' mall, I was told a different theme for each floor e.g Venitian with gondola rides, just seems out of place to me. For now anyway. Am not saying this is a bad location, I just think its overpriced . The distance from the Nusajaya residentail areas and also JB should also not be underestimated. People will flock to malls that are nearer their homes.

 

[snowbird]

In time to come this area may have more buzz but the concept of an "International' mall, I was told a different theme for each floor e.g Venitian with gondola rides, just seems out of place to me. For now anyway. Am not saying this is a bad location, I just think its overpriced . The distance from the Nusajaya residentail areas and also JB should also not be underestimated. People will flock to malls that are nearer their homes.

I think all the retailers should know that a larger part of the shoppers that crowd into the shopping malls in both town area and the suburbs are day trippers from SG who are there looking for cheap bargains, cheap groceries and cheap makan.
Of cos it also includes those who had moved to JB seeking lower cost of living, so smart retailers looking for good business should be targeting this crowd.

 

[Mee Poh Man]

Not sure if this is the correct thread to ask.
Does any one know if Grandview 360 is a good buy or not?

 

[Chocolate]

Not sure if this is the correct thread to ask.
Does any one know if Grandview 360 is a good buy or not?

If you're commuting to SG , this would be one of the more convenient locations . However I feel the area doesnt have the residential feel, nice ambience , so depends on whether that matters to you. Ambience may change though over time as there are many new developments and proposed changes for this area. I would check on flooding( not so sure about this site) as some areas around Permas and Bakar Batu are prone to floods and there is a possibility of higher ground to be cut off , even if not under water. I am unsure abt this site so perhaps someone with better knowledge can advise.price wise, is it still around 600psf? If it is then I think its fair.

 

[potter]

LH area...

 

[malpaso]

Not sure if this is the correct thread to ask.
Does any one know if Grandview 360 is a good buy or not?

don't like location.. to close to the big flyover bridge, and in permas jaya, the surrounding not nice. my opinion only. furthermore this devt nothing special. better to consider senibong cover wateredge, it's just 5 mins away.

 

[malpaso]

grandivew 360 is leasheold? i rem it freehold lei..

 

[Frodo]

don't like location.. to close to the big flyover bridge, and in permas jaya, the surrounding not nice. my opinion only.

Agree that surroundings got no atas feel, but strong plus point is really near CIQ and Taman Sentosa and food.

 

[malpaso]

Agree that surroundings got no atas feel, but strong plus point is really near CIQ and Taman Sentosa and food.

ok, granted it 's nearer to ciq.
but at that price (i enquired in nov), rather buy wateredge or somewhere in jb town itself.
or even a subsale condo at taman perling. (assuming for own stay or for retirement)
(again, all my own opinion only.)

 

[potter]

grandivew 360 is leasheold? i rem it freehold lei..

fun, one kopi?

 

[Bruceli]

travelling via edl these days are crazy ... congested ... esp the exit out to permas
if commuting daily into spore, staying at jb cbd area e.g. jln abdul samad area would be ideal. once u clear jb ciq, less than 5 min home sweet home

 

[cow138]

Permas is still a virgin area relatively compared to the second link area.

Currently the location is still under a older estate. It's still not really a well developed area.
It might change later but it's still a doubt.
Any concern about flooding?

 

[Frodo]

Permas is still a virgin area relatively compared to the second link area.

Currently the location is still under a older estate. It's still not really a well developed area.
It might change later but it's still a doubt.
Any concern about flooding?

Where I am staying in Seri Alam no flooding. The only "flooding" was in my bathroom due to some choked pipes, but developer just fixed it.

 

[Frodo]

BTW, the traffic on EDL is really bad at evening times. Yesterday got horrible accident involving few cars and motor cycles. MY drivers and motorists really need to cut back on the speeding and tailgating and driving close to each other. It's just courting death.:(