What locals do not like is that they are being taken advantaged of. If ou buy for own stay, I am sure you are very welcomed. But if you buy a few and hope to flip, and that drive up the demand and obviously high demand means high increase in prices, then the local councils have to do something. I remembered some Teega buyers mentioned "buy 2 free 1 when it is completed". This is exactly what happened.
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New developments to share
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What locals do not like is that they are being taken advantaged of. If ou buy for own stay, I am sure you are very welcomed. But if you buy a few and hope to flip, and that drive up the demand and obviously high demand means high increase in prices, then the local councils have to do something. I remembered some Teega buyers mentioned "buy 2 free 1 when it is completed". This is exactly what happened.
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By then prices would have already gone up and area may be matured and we would have already earned even if we have to sell below valuation. But then even if don't sell also never mind because those of us buying for own stay are looking long term and have likely chosen our desired location and given thought to where we want to be.
congrates to buyers of medini.. whole of m'sia only place singporean can buy any price condo.. hoh seh liao
Don't be too happy yet. Next week menteri besar will be announcing some changes to the laws. Some new measures to be applied to Medini developers and buyers. Selling will be made very difficult and need his personal approval.
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There are always investors that buy a few and never intend to stay. Including Singapore where a PR buy 82 units in Reflection at one go.
http://forums.fuckwarezone.com.sg/[email protected]
It does not affect local Singaporeans, it is what you do in the public that result in Foreigners been rejected.
In Singapore PRC are "too loud" and too rowdy. Regardless whether they stay in HDB or Condo or Bungalow; PRC are hated in Singapore.
http://forums.fuckwarezone.com.sg/[email protected]
It does not affect local Singaporeans, it is what you do in the public that result in Foreigners been rejected.
In Singapore PRC are "too loud" and too rowdy. Regardless whether they stay in HDB or Condo or Bungalow; PRC are hated in Singapore.
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Hope he will make it that all foreigner transaction need his apporval, then surely the market will "die"..... . My wife & me were surprised that on all property min move to RM1M, we always thou that condo should remain at RM0.5M in Iskandar since there are so many of project is in the pipe line.
In all fairness, not all the negatives are directed at Singaporeans. The Malaysian SPR also have to be blamed.
And also with the PRC show in Country Garden, alarm bells started ringing.
And introduction of some withholding tax too
In Malaysia with the quota system really cannot understand how they blame foreigners especially when the quota for landed is only 20% for links and 30% for semis. In Singapore ss you know the new rule is that property name and loan name has to be the same. So if there are cases where a Malaysian buys but get funded by a Singaporean then other measures are needed.
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A lot of Players from Penang and KL came down to Johor Bahru after making a killing.
The RM1m properties for foreigners is applicable throughout Malaysia. But apparently there are area that do not get affected at all as those are Million dollar condos street.
In Penang; it is call Gurney Drive with Condos as expensive as RM5m to RM8m
And in KLCC some condos are from RM10m to RM20m.
http://www.iproperty.com.my/propertylisting/1939152/city-centre-penthouse-forsale
The RM1m properties for foreigners is applicable throughout Malaysia. But apparently there are area that do not get affected at all as those are Million dollar condos street.
In Penang; it is call Gurney Drive with Condos as expensive as RM5m to RM8m
And in KLCC some condos are from RM10m to RM20m.
http://www.iproperty.com.my/propertylisting/1939152/city-centre-penthouse-forsale
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Yes, KL players came down to JB. But they invest with extreme care as they are very close to the developers who are from KL. They know where and which to choose. They don't even need to wait for the VVIP invitations. KL players too have many choices in KLCC, Bangsar or Mont Kiara.
It is the mass buyers who follow the sheeps who are now caught.
It is the mass buyers who follow the sheeps who are now caught.
Eventually. But for the first few launches most of us bought 2 bedrooms at below that price. I am glad now that I secured my unit! I think when the first few Medini condos VP in the next few years the Malaysians can sell their units( 2 bedrooms) at below 1M and still make a tidy profit as many bought at 600- 750K for the first few launches.These 2 bedders are good for retirees as well with the Wellness centre nearby.For Malaysians the RGPT is lower so it makes flipping from year 4 onwards more feasible.
It does not affect local Singaporeans, it is what you do in the public that result in Foreigners been rejected.
In Singapore PRC are "too loud" and too rowdy. Regardless whether they stay in HDB or Condo or Bungalow; PRC are hated in Singapore.[/QUOTE]
You are right. In terms of investment Singaporeans are not the richest foreigners. In fact far from it, most are HDB dwellers who are buying a 2nd property and cant afford anything high end or buy only 1 or 2 units. Those who buy several units are often agents who speculate and one Huttons agent has told me many will have to jump! Also Singaporeans presence is more or less confined to the South, not as active in other areas. As pointed out by Frodo, many buy for own stay and these 'consumers' are not speculators as they buy just for own use, I doubt they are playing a big part in pushing prices up. There are other foreigners like PRC with much more clout, also am sure many Malaysians including SPR who need a home in JB are also contributing. SPR ( M'sian) can still buy any price so this may limit the effectiveness of the measures.
More than property prices, Malaysians just like Singaporeans resent the behavior of some foreigners, the crowds and also changing landscape. Some changes are perceived as too fast by locals.
In Singapore PRC are "too loud" and too rowdy. Regardless whether they stay in HDB or Condo or Bungalow; PRC are hated in Singapore.[/QUOTE]
You are right. In terms of investment Singaporeans are not the richest foreigners. In fact far from it, most are HDB dwellers who are buying a 2nd property and cant afford anything high end or buy only 1 or 2 units. Those who buy several units are often agents who speculate and one Huttons agent has told me many will have to jump! Also Singaporeans presence is more or less confined to the South, not as active in other areas. As pointed out by Frodo, many buy for own stay and these 'consumers' are not speculators as they buy just for own use, I doubt they are playing a big part in pushing prices up. There are other foreigners like PRC with much more clout, also am sure many Malaysians including SPR who need a home in JB are also contributing. SPR ( M'sian) can still buy any price so this may limit the effectiveness of the measures.
More than property prices, Malaysians just like Singaporeans resent the behavior of some foreigners, the crowds and also changing landscape. Some changes are perceived as too fast by locals.
Thanks for the insights. If that's the case will the current New measures help?
Do you mean will it help Medini?I think it will help Medini as long as it remains a special zone. I doubt the IRDA will change that as it would be retracting on their promise and cause a complete loss of trust from investors, also its Leasehold.
But there is always a posisbility that Johor will 'tambah' ( add on) their own cooling measures if the overall mkt in Iskandar doesnt cool down . My guess is they will wait a few months to see how it goes, before making any other announcements. But given that the current MB has been saying things, dont be shocked if they add fuel to the fire.
My advice is if you're buying for own stay fine. Long term investment, maybe. But if any foreigner is planning to flip even in 5 years, think carefully as more measures may be on the way. For Malaysians as well, its best to wait and see except for own stay. In the long run, I think Singaporeans who plan to retire in MY will still buy that one property as where else can they find something that can compare to what Iskandar offers? Definitely proxinity wise it wins hands down. We all want to be near our kids if possible when we grow old yet be able to live cheaply and comfortably.. Those who don't buy may just rent instead.
congrates to buyers of medini.. whole of m'sia only place singporean can buy any price condo.. hoh seh liao
Let see how it goes.. This is kinda of justics serve to some who bought freehold landed terrace < $1mil. I recalled they "suan" those "stupid" buyers who bought 129 years leasehold at Medini... I think KSxxx will be laughing back at them now..
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For many who are disappointed by the slew of measures that have been instituted to cool property prices in Iskandar, there are others who are not - and they are not just the local residents.
The economists are applauding this because it exhibits Malaysia's consciousness of the need for sustainability on the face of inflows of hot money. Many investment destinations like China, Hong Kong and Singapore have already done their part to douse the fire of asset inflation. If Malaysia has not done the same, then it would be clear that they are not in that league or even on its way there.
The time has also come for some investment diversion to other areas like the manufacturing assets and key infrastructures which are evidently in need of development. And that may need to be hastened rather than delayed.
The economists are applauding this because it exhibits Malaysia's consciousness of the need for sustainability on the face of inflows of hot money. Many investment destinations like China, Hong Kong and Singapore have already done their part to douse the fire of asset inflation. If Malaysia has not done the same, then it would be clear that they are not in that league or even on its way there.
The time has also come for some investment diversion to other areas like the manufacturing assets and key infrastructures which are evidently in need of development. And that may need to be hastened rather than delayed.
every country is the same. who want to be makan? but its the rich and prime that make the $ first. then masses complain. then mass mkt runs. u see it in sg last few years. u see it in london, NY/SF/Hamptons. Its our choice to learn. If u cant lead, then follow. Dont just sit back and complain.
and this is good. take the heat of property. time to focus on making infra projects come true or expedite HSR/ RTS.
Haven't you heard. Hsr and rts shelved.
That's where teh difference in freehold and leasehold comes in.
All leasehold would need state exco's approval for transfer.
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