New developments to share

[potter]

My guess is I think after the developers had a good run with the high priced properties and left the poor aside, the State see that he has to be seen doing something for his poor people. Therefore they are now thinking of setting up "International Zones" where you get giant gated and guarded communities. Outside this zone would be the land that can be developed for the social housing types. Where it is located is anyone guess.
Actually someone is getting envious with the profits the developers are reaping from the early launches in JB and they want to get into the pie themselves. One of the way is to extend the life cycle of the property demand curve and hopefully this so called international zone would be the extension. And you can bet that this new zones would involve some vested interests.
Anyway, this is my personal view.

Tio. Wise oldie. developers markup their price anyhow these few yrs, now e state is going hoot them back, in another way. :p

let see how the non-bumi zone crafted..

 

[Funniman]

Tio. Wise oldie. developers markup their price anyhow these few yrs, now e state is going hoot them back, in another way. :p

Betul....Wait till the developers apply for infrastructure for their projects. The State and its Building byLaws will make sure developers contribute towards flyovers, highways, sub stations even civil pipe connections before giving final approvals. Traffic dispersal plan or environmental Impact assessment is just 3 little words but it runs into millions to have things rectified. While elephants fight, the buyers will suffer.

 

[malpaso]

Betul....Wait till the developers apply for infrastructure for their projects. The State and its Building byLaws will make sure developers contribute towards flyovers, highways, sub stations even civil pipe connections before giving final approvals. Traffic dispersal plan or environmental Impact assessment is just 3 little words but it runs into millions to have things rectified. While elephants fight, the buyers will suffer.

so am i right to say that where elephant fight, the tikus tikus must steer clear, & go play somewhere else?

 

[Funniman]

so am i right to say that where elephant fight, the tikus tikus must steer clear, & go play somewhere else?

Oh...the tikus lari far far away liao from Johor.
But with Mr Tharman was being interviewed by DBS CEO at the anunal DBS Asian Insights conference and he said a further property correction will not be unexpected, maybe it is time to restock and relook at Singapore properties in future.
Investing is fun, isn't it?

 

[RedsYNWA]

Oh...the tikus lari far far away liao from Johor.
But with Mr Tharman was being interviewed by DBS CEO at the anunal DBS Asian Insights conference and he said a further property correction will not be unexpected, maybe it is time to restock and relook at Singapore properties in future.
Investing is fun, isn't it?

For SG properties, the absd is a killer. MAS did say it's a temp measure though. But SG new launches buay song leh. So small.... example, City Gate 2 bedder is 560 sq ft???

 

[ginfreely]

Note the retrospective nature of the 30 sen penalty. Owners who purchased properties that have yet to VP in this international zone will be screwed.

Create Iskandar to lure foreign developers and property buyers then after that suka suka add this and that tax on foreigners that applies retrospective. Leaving investors with big risks that are unforeseeable. Like that international investors will think ten times in future before investing.

 

[malpaso]

Oh...the tikus lari far far away liao from Johor.
But with Mr Tharman was being interviewed by DBS CEO at the anunal DBS Asian Insights conference and he said a further property correction will not be unexpected, maybe it is time to restock and relook at Singapore properties in future.
Investing is fun, isn't it?

not when one gets screwed over by the authorities, it isn't !!!

 

[malpaso]

For SG properties, the absd is a killer. MAS did say it's a temp measure though. But SG new launches buay song leh. So small.... example, City Gate 2 bedder is 560 sq ft???

ABSD + TDSR = wet blanket the size of.. uhhh.. singapore.

 

[cow138]

Just exactly what does this mean to the existing group of investors that have bought into potentially non international zoned areas.
How is the govt going to handle this batch of buyers

 

[FHBH12]

Nothing will happen to this group.

 

[potter]

Those inland condo projects have low % taken up rate..this group do be careful..:o

 

[xixxix]

Nothing will happen to this group.

Can you share how you know that there will be no impact on foreigners who own properties not in the international zone? Can you quote us a source please?

Kinda worried that in the end, those of us who bought condos earlier will end up only being able to sell to Malaysians because they are outside the international residential zone...

 

[Funniman]

The way I see it is for the State to impose any sort of control is those transactions that needed State approvals before completion of a S &P. Which means Leasehold properties are the ones to be careful.
Freehold properties do not have any restrictions and do not need any State approvals in Sales & Purchases.

 

[potter]

The way I see it is for the State to impose any sort of control is those transactions that needed State approvals before completion of a S &P. Which means Leasehold properties are the ones to be careful.
Freehold properties do not have any restrictions and do not need any State approvals in Sales & Purchases.

From foreign buyer point of view or local? :o

 

[FHBH12]

Can you share how you know that there will be no impact on foreigners who own properties not in the international zone? Can you quote us a source please?

Kinda worried that in the end, those of us who bought condos earlier will end up only being able to sell to Malaysians because they are outside the international residential zone...

No source as it is my deduction, but please don't flame me:

Taxation
The rational should be to tax (1) developers buying/reclaiming the land, (2) owners buying the units, and (3) owners using/renting the units. The greatest efficiency of this policy will be where most of the foreigners are buying in the international zone, which I think is loosely associated with the following areas at the southern coast: Medini, Puteri Habour Danga Bay and JB city centre, and some reclaimed parts of southern Johor. Other areas have much lower foreigners quota and there are not many foreign buyers.

Populist Policy
As most buyers are foreigners in this international zone, this zone is easily identifiable and foreigners can be made scapegoats for the high property prices and other social ills. By defining the zone, it will also reduce the competition with locals for properties outside the zone. The taxes collected, it seems, will be used to win favor from locals.

Impact
You can figure out the impact on the properties in these zones with the recent news alone, even before they are actually or will be implemented. Not withstanding the potential impact, the best survivors among these condos might be those right next to the proposed RTS. The recent implemented and proposed JB hikes in tolls will make these condos more appealing.

 

[gooddebt]

In my view, I think those higher end housing at non international areas will be at greatest risk . The local cannot afford and the foreigners cannot buy. In the international zones, there may be higher taxes etc but the velocity of international money is there.

 

[Valdez]

What they meant is certain developments or areas strictly out of bounds to foreigners.
Should not be an issue with those who already bought. They want to make sure the locals are not marginalised.

 

[RedsYNWA]

No source as it is my deduction, but please don't flame me:

Taxation
The rational should be to tax (1) developers buying/reclaiming the land, (2) owners buying the units, and (3) owners using/renting the units. The greatest efficiency of this policy will be where most of the foreigners are buying in the international zone, which I think is loosely associated with the following areas at the southern coast: Medini, Puteri Habour Danga Bay and JB city centre, and some reclaimed parts of southern Johor. Other areas have much lower foreigners quota and there are not many foreign buyers.

Populist Policy
As most buyers are foreigners in this international zone, this zone is easily identifiable and foreigners can be made scapegoats for the high property prices and other social ills. By defining the zone, it will also reduce the competition with locals for properties outside the zone. The taxes collected, it seems, will be used to win favor from locals.

Impact
You can figure out the impact on the properties in these zones with the recent news alone, even before they are actually or will be implemented. Not withstanding the potential impact, the best survivors among these condos might be those right next to the proposed RTS. The recent implemented and proposed JB hikes in tolls will make these condos more appealing.

But based on what has been articulated recently, there's a likelihood that foreigners can only unload to locals, for properties outside the "international zone". As for properties within "international zone", these are subject to higher taxes, & likely to be 90% condos, which carry higher risks at the moment. The signalling effect on foreign investments are enormous, should the proposal be carried out.

So whether your property is within or outside the "international zone", it is likely to be impacted. Kind of between the devil & the deep blue sea.....

 

[FHBH12]

But based on what has been articulated recently, there's a likelihood that foreigners can only unload to locals, for properties outside the "international zone". As for properties within "international zone", these are subject to higher taxes, & likely to be 90% condos, which carry higher risks at the moment. The signalling effect on foreign investments are enormous, should the proposal be carried out.

So whether your property is within or outside the "international zone", it is likely to be impacted. Kind of between the devil & the deep blue sea.....

The international zone is in early conception stage. There are a lot of uncertainties, for instance, what about commercial and industrial properties, and companies with foreign-ownership purchasing properties. At the moment, it seems to target only residential properties. Developers and sellers are now super-confused. Iskandar properties will experience a sharp cooling with foreigner investors.

 

[Valdez]

Understand that garment companies moving out of china and Vietnam to Batu pahat. All the major garment manufacturers will be located in BP within the next 10 years.

Is Batu Pahat in Johor the next Iskandar?, Opinion Premium News & Headlines - THE BUSINESS TIMES

ON July 30, the Iskandar Malaysia economic corridor will celebrate its eighth anniversary. Thus far, Iskandar has been a great success story, attracting over $54 billion in investments since 2006. Nonetheless, it may already be time to search for the next frontier of investment.

THE Hillview Loft condominium complex, perched on a quiet hill and surrounded by lush rainforest, towers above the city of Batu Pahat, Johor. Dubbed "The Fortress" by some residents, the three luxury high-rise buildings are housed within a gated compound equipped with entry checkpoints and 24-hour security. Wealthy Malaysians and a handful of expats from all over the world - Canada, China, Germany, the Middle East, Singapore, and the United States - park their BMWs and Range Rovers in an underground deck beneath the Olympic-sized swimming pool. After work, residents hit the in-house gym or the synthetic-grass tennis courts before retiring to their flats to chow down on organic dinners purchased from local markets.

Batu Pahat's transformation

Located just 110 kilometres north-west of Singapore and 240 kilometres south-east of Kuala Lumpur, the district of Batu Pahat (meaning "chiselled stone" in Malay) is comprised of nearly half-a-million people. Some 20 years ago, the sort of lifestyle and economic prosperity seen today would have been unthinkable; Batu Pahat was little more than a set of sleepy villages. But today, "BP", as it is affectionately referred to by locals, is the second largest city in the state of Johor (after Johor Bahru) in terms of both population and manufacturing production. The area has transformed itself into something of a boomtown, relying on industries as wide-ranging as textiles, food processing, and electronics to spur growth. BP accounts for 50 per cent of the textiles exported out of Malaysia, and is home to production facilities for a number of multinational corporations, including Fujitsu and Sharp.