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New developments to share

Johor reclamation project sparks concerns again
Kua Yu-Lin
The Straits Times
Wednesday, Dec 24, 2014

PONTIAN (Malaysia) - A proposed land reclamation project in the Johor Strait has once again raised environmental concerns, even as a Detailed Environmental Impact Assessment (DEIA) report on it was released by the Pontian authorities last month.

The project to create a 1,411ha island, known as the Tanjung Piai Maritime Industrial Park, is one of two massive land reclamation projects in the south-western end of Malaysia's Johor state which have previously sparked concerns among environmentalists.

The other project, a 2,000ha proposed island, near the Second Link Bridge connecting Johor to Singapore, is known as Forest City.

A Straits Times report in June quoted the company involved in the Tanjung Piai project, Benalec Holdings, as saying reclamation is expected to begin before the end of this year, and oil storage facilities would be built once the island is completed.

Pekan Nanas assemblyman Yeo Tung Siong of the opposition Democratic Action Party raised concerns at a press conference over whether Tanjung Piai will become another Pengerang, reported the Sin Chew Daily last Saturday.

He was referring to a US$16 billion (S$21 billion) project on the south-eastern side of Johor, in Pengerang, called the Refinery and Petrochemicals Integrated Development (Rapid), which activists have said would harm the environment and affect the livelihoods of fishermen. Previous media reports said this project is part of the Malaysian government's plan to capture some of the global energy business from Singapore.

Benalec is also involved in the reclamation works to extend the shoreline of the Rapid project.

As for the Tanjung Piai project, Mr Yeo raised fears that the proposed oil storage facility, which is less than 1km away from Tanjung Piai's mangrove forests and about 10km away from Kukup fishing village, will bring irreparable damage to the forests and fishing grounds in the area.

The facility will attract large oil bunkers, leading to the possibility of oil spills that will have a serious impact on the water quality.

Many fish farms and resort operators are likely to be affected too, added Mr Yeo.

Already, he said, close to 90 per cent of local residents are against two other major development projects in the area, a power plant in Tanjung Bin and a port in Tanjung Pelepas.

According to the DEIA report, 51.2 per cent of residents polled have voiced opposition to the Tanjung Piai project. Mr Yeo cited this as a reason that he is gathering at least 50 signatures for a petition which he will submit to the Environment Ministry on Friday.

This article was first published on December 22, 2014.

Get a copy of The Straits Times or go to straitstimes.com for more stories.

- See more at: http://news.asiaone.com/news/malays...ct-sparks-concerns-again#sthash.jd0hJZaA.dpuf
 
Freehold as stated in the brochure. Looks good but developer could have thrown in marble flooring on ground floor and furnishing such as kitchen cabinets, wardrobes and air-conditioners.

http://www.rawhide.com.my/app/webroot/upload/files/Ponderosa-Wood-Loose-Leaflet-Type-C.pdf

Min selling price from RM 2.7m, as stated in the brochure. For the price, I feel New World Gardens at RM2m is more worth it, albeit smaller. So far, I have only seen 1 developer offering marble flooring on 1st floor. Is marble flooring really so ex, considering the selling price for this project starts at 2.7m?
 
Min selling price from RM 2.7m, as stated in the brochure. For the price, I feel New World Gardens at RM2m is more worth it, albeit smaller. So far, I have only seen 1 developer offering marble flooring on 1st floor. Is marble flooring really so ex, considering the selling price for this project starts at 2.7m?

ponderosa location should be better than new world gardens (masai). how close is NWG to the daiman golf course? i believe the ponderosa G&CC is nicer and more prestigious. it's certainly covering a larger area.
for 2.7m the developer can throw in a crystal chandelier and still laugh all the way to the bank. :)
 
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Min selling price from RM 2.7m, as stated in the brochure. For the price, I feel New World Gardens at RM2m is more worth it, albeit smaller. So far, I have only seen 1 developer offering marble flooring on 1st floor. Is marble flooring really so ex, considering the selling price for this project starts at 2.7m?

In current lacklustre market, will anyone buy at rm2.7mil ? My neighbour has been trying to sell his cluster semid for several mths at Austin Heights for rm1.3mil I think but so far still no takers as far as I know. Having difficulty renting out my place too.
 
In current lacklustre market, will anyone buy at rm2.7mil ? My neighbour has been trying to sell his cluster semid for several mths at Austin Heights for rm1.3mil I think but so far still no takers as far as I know. Having difficulty renting out my place too.
Yours is Austin Heights cluster semi-d right? How much is your asking rental at the moment?
 
Yours is Austin Heights cluster semi-d right? How much is your asking rental at the moment?

Rm4500...had to go down to rmm2500 before there were any viewers but now trying with another agent at rm4500 again...prob have to adjust lower again soon.
 
ponderosa location should be better than new world gardens (masai). how close is NWG to the daiman golf course? i believe the ponderosa G&CC is nicer and more prestigious. it's certainly covering a larger area.
for 2.7m the developer can throw in a crystal chandelier and still laugh all the way to the bank. :)

I think NWG's selling pt is its proximity to Tesco & Giant Plentong and its seemingly great in-house facilities. Daiman golf course is ard 1 km away but its in quite poor condition compared to Ponderosa.

For RM 2.7m, developer really should be throwing in free autogate, alarm, air-con, fully equipped kitchen & wardrobes.....
 
Sharing a new development here. 3 storey very ex semi-d in Taman Ponderosa.....

http://www.rawhide.com.my/projects/5/Type-C

There's another development(lets call it Development A) with smaller SemiDs fully sold and completed and these SemiDs are even more expensive now based on latest bank valuation(Standard Chartered) done last week.

Ponderosa, SemiD(FH)
Land size = 5000 sq ft
Built-up(B/U) = 4729 sq ft
PSF price = RM540 psf(land) / RM571 psf(B/U)

Development A, SemiD(FH)
Land size = 4050 sq ft
Built-up(B/U) = 3699 sq ft
PSF price = RM642 psf(land) / RM703 psf(B/U)
 
In current lacklustre market, will anyone buy at rm2.7mil ? My neighbour has been trying to sell his cluster semid for several mths at Austin Heights for rm1.3mil I think but so far still no takers as far as I know. Having difficulty renting out my place too.

Volume has been declining due to cooling measures and oversupply in certain segments in 2016-2018. Not many dare to commit to over $1 mil RM properties now with lots of recent bad news in Malaysia e.g. VEPs/tolls increase, traffic fines on S-plate drivers, flip-flop policies, air-craft crashes, oil price crash, and GST. 2H 2015 could be even quieter.
 
Below article is quite reflective of the situation in Johor also.

M'sia property: Mismatch in demand, supply of residential units
Thursday, 28 August 2014 07:01

PETALING JAYA - The residential property market is experiencing a mismatch in terms of demand and supply, and prices need to be managed so that the market remains sustainable, said Jones Lang Wootton executive director Malathi Thevendran.

"There's totally a demand-supply mismatch. There is demand but to be sustainable we have to make sure that it is attractive pricing. At the same time occupancy and product differentiation are important," she said during her presentation on the residential and condominium segment at the 17th National Housing & Property Summit 2014 yesterday.

Malathi said the supply and demand imbalance came about when developers launched too many residential units priced RM1 million and above.

In 2005, only 10% of the launches comprised RM1 million properties. However in 2012, 40% of launches were priced RM1 million and above.

"How many people can upgrade? You can upgrade one or two but can you upgrade to so many bungalows and detached houses? You can't own so many bungalows," she said.

As a result, launches reduced and prices rose. According to data from Jones Lang Wootton, there were only 400 residential units launched within seven projects so far this year.

"It shows that in the Klang Valley, there are not many houses launched. If they were to launch, they're looking at no less than RM750,000. And how many people can actually buy that property? At the same time, it is also whether or not they can get a housing loan because the banks are very stringent. Gone are the days you can buy six, seven or eight properties."

Full article: http://www.malaysia-chronicle.com/i...y-of-residential-units&Itemid=3#ixzz3OHB86RJc
Follow us: @MsiaChronicle on Twitter
 
Rm4500...had to go down to rmm2500 before there were any viewers but now trying with another agent at rm4500 again...prob have to adjust lower again soon.

Have you checked what is your surrounding rental, before deriving the RM 4.5k rental? Seems to me that the fair value is probably betw RM3k to 3.5k? Sounds a bit like trying to ask for S$4.5k for a Woodlands 3 bedder condo......
 
Rm4500...had to go down to rmm2500 before there were any viewers but now trying with another agent at rm4500 again...prob have to adjust lower again soon.

welcome to Malaysia rental market. In KL, a G&G terrace house at a good location near the curve PJ (an old house) being sold at 1.1M. Rental? 1800RM. Btw this is a true story that has been verified by me. because i was looking to buy the house, and the tenant was there.
 
I think NWG's selling pt is its proximity to Tesco & Giant Plentong and its seemingly great in-house facilities. Daiman golf course is ard 1 km away but its in quite poor condition compared to Ponderosa.

For RM 2.7m, developer really should be throwing in free autogate, alarm, air-con, fully equipped kitchen & wardrobes.....

yes, i agree - i wish developers put in some furnishing for their new houses becos i hate the fact that i'd have to spend upwards of 50k for a new house. anyway, i believe ponderosa is much better than jln masai baru/ johor jaya/rosmerah side, even though geographically theyre both quite close to molek. that's the thing with malaysia, the location could be just next door but the crowd & environment can be totally different.
 
Have you checked what is your surrounding rental, before deriving the RM 4.5k rental? Seems to me that the fair value is probably betw RM3k to 3.5k? Sounds a bit like trying to ask for S$4.5k for a Woodlands 3 bedder condo......

My house was tenanted out to Koreans for rm4500 before I bought but unfortunately, after I bought, oversupply and cooling measures came.
 
My house was tenanted out to Koreans for rm4500 before I bought but unfortunately, after I bought, oversupply and cooling measures came.

I thought you bought it for less than RM1m? Cant rem exactly how much but I recalled it was around RM 950K. Based on 4% gross yield, the rental should be around RM3.2k.

At RM 4.5k, the yield is an extremely high 5.7%, which should be an outliner?
 
yes, i agree - i wish developers put in some furnishing for their new houses becos i hate the fact that i'd have to spend upwards of 50k for a new house. anyway, i believe ponderosa is much better than jln masai baru/ johor jaya/rosmerah side, even though geographically theyre both quite close to molek. that's the thing with malaysia, the location could be just next door but the crowd & environment can be totally different.

Haha bro, I think RM50k is too little for full fledged kitchen (wet & dry), built-in wardrobes for 4 bedrooms, 4 air-con, autogate, alarm, grilles........ Yah in MY, a neighbouring taman's price difference can be quite astounding.
 
I thought you bought it for less than RM1m? Cant rem exactly how much but I recalled it was around RM 950K. Based on 4% gross yield, the rental should be around RM3.2k.

At RM 4.5k, the yield is an extremely high 5.7%, which should be an outliner?

Will try to convince my hubby to lower asking rental...
 
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