Property News

[sgcount]

I believe most Singaporeans are just looking for a roof above their heads and not thinking about investment properties. And this would be for majority of Singaporeans who never thought of living outside Singapore. Yes, I guess it would generally be true that Singapore properties are better investments, but to invest in Iskandar costs much lesser than to invest in Singapore. A person with meagre means like me can NEVER afford to buy for own use, much less invest, in Singapore properties, but in Johor still have hope.

Actually not really. Those who just want to have a roof over their heads are the young graduates of today and those who work fixed 9am-6pm office/admin jobs/salaried or "slave workers" to companies.

You'd be surprised how rich Singaporeans are. I see many BMWs, Jaguars, Merc parked in HDB carparks. I also know many who look ordinary and simple are actually millionaires. Look at how much they spend on their kids, and the many overseas holidays they take in a year.

The government says HDB flats are for the general public who earn a certain income limit. I realize not too long ago it's bulls***! I've read stories of middle-aged first-time buyers paying their S$650k HDB flat in full cash. I also see towkays and successful business owners living in HDB flats. They can't possibly be so ordinary. They must have lots of other investments.

I wanted to ask xebay11 how he managed to buy a HDB flat. Thru company? How come that is allowed?

 

[sgcount]

The only good investments in Singapore is hdb coffeshsop properties, entry is $31 million now, any takers? These coffee shops could be had for $1 million or less in the 90s.

Too late to enter. This sort of investment is for the super multi-millionaires, multi-chain, public listed business owners.

 

[Frodo]

Actually not really. Those who just want to have a roof over their heads are the young graduates of today and those who work fixed 9am-6pm office/admin jobs/salaried or "slave workers" to companies.

You'd be surprised how rich Singaporeans are. I see many BMWs, Jaguars, Merc parked in HDB carparks. I also know many who look ordinary and simple are actually millionaires. Look at how much they spend on their kids, and the many overseas holidays they take in a year.

The government says HDB flats are for the general public who earn a certain income limit. I realize not too long ago it's bulls***! I've read stories of middle-aged first-time buyers paying their S$650k HDB flat in full cash. I also see towkays and successful business owners living in HDB flats. They can't possibly be so ordinary. They must have lots of other investments.

I wanted to ask xebay11 how he managed to buy a HDB flat. Thru company? How come that is allowed?

Maybe it depends on the HDB estates. In my own estate I don't see many high end marque cars. Maybe in Bishan have?

As for xebay, he probably bought his private house in company name, and HDB in his own name.

 

[xebay11]

Actually not really. Those who just want to have a roof over their heads are the young graduates of today and those who work fixed 9am-6pm office/admin jobs/salaried or "slave workers" to companies.

You'd be surprised how rich Singaporeans are. I see many BMWs, Jaguars, Merc parked in HDB carparks. I also know many who look ordinary and simple are actually millionaires. Look at how much they spend on their kids, and the many overseas holidays they take in a year.

The government says HDB flats are for the general public who earn a certain income limit. I realize not too long ago it's bulls***! I've read stories of middle-aged first-time buyers paying their S$650k HDB flat in full cash. I also see towkays and successful business owners living in HDB flats. They can't possibly be so ordinary. They must have lots of other investments.

I wanted to ask xebay11 how he managed to buy a HDB flat. Thru company? How come that is allowed?

Company assets for private property. My father is also director, I only have hdb in my name, perfectly legal.

Yes many, many rich people in Singapore, coffeeshsop can easily rake in $100k plus per month in rental, what is a Lamborghini?

 

[sgcount]

Maybe it depends on the HDB estates. In my own estate I don't see many high end marque cars. Maybe in Bishan have?

As for xebay, he probably bought his private house in company name, and HDB in his own name.

Yah, depends on estate. But looks can be deceiving. It's the lower-class earners who sometimes want to try to look and live rich. For the rich, some of them have simple lifestyle but they are loaded with cash and investments.

 

[sgcount]

Company assets for private property. My father is also director, I only have hdb in my name, perfectly legal.

Yes many, many rich people in Singapore, coffeeshsop can easily rake in $100k plus per month in rental, what is a Lamborghini?

The HDB you have is an old one you bought long time ago? Cos I thought they have income limit for buyers of only $12k per month. Or you under-declare your income.

 

[Frodo]

Yah, depends on estate. But looks can be deceiving. It's the lower-class earners who sometimes want to try to look and live rich. For the rich, some of them have simple lifestyle but they are loaded with cash and investments.

The irony here is that I am an average single income earner who look rich in JB because I live in a landed property...but back in Singapore is not rich and cannot even afford to look rich...people see my car also know is cheapo one and owner is boh simi lui type...LOL! it's amazing just how merely crossing borders can change things, though the thing unchanged is that I am not rich!!!:p

 

[potter]

The irony here is that I am an average single income earner who look rich in JB because I live in a landed property...but back in Singapore is not rich and cannot even afford to look rich...people see my car also know is cheapo one and owner is boh simi lui type...LOL! it's amazing just how merely crossing borders can change things, though the thing unchanged is that I am not rich!!!:p

I like to see dog eyes see ppl down face. :p

 

[RedsYNWA]

The irony here is that I am an average single income earner who look rich in JB because I live in a landed property...but back in Singapore is not rich and cannot even afford to look rich...people see my car also know is cheapo one and owner is boh simi lui type...LOL! it's amazing just how merely crossing borders can change things, though the thing unchanged is that I am not rich!!!:p

Not rich meh? But your angmo damn gd leh. I suspect you are a millionaire trying to be humble!

 

[Frodo]

Not rich meh? But your angmo damn gd leh. I suspect you are a millionaire trying to be humble!

Hahaha...thanks for compliment...my England just OK Ok nia....yes....I am a millionaire but IN RINGGIT currency only after purchasing the 2nd property in JB, and depending on which view you take, it can be a millionaire in assets or in debts (bank loans)...LOL! Real millionaires are those who have that sitting as cash or FD in the bank accounts!

 

[Manhattan]

Bloomberg - The Ghosts of Baha Mar: How a $3.5 Billion Paradise Went Bust http://www.bloomberg.com/news/artic...baha-mar-how-a-3-5-billion-paradise-went-bust

Let this be a reminder to everyone. Things can go wrong when you least expect it.

 

[xebay11]

The HDB you have is an old one you bought long time ago? Cos I thought they have income limit for buyers of only $12k per month. Or you under-declare your income.

Resale, no income restrictions.

 

[snowbird]

Just about more than a year ago, there were so much buzz and excitement about the development of the PIPC or the Pengerang Integrated Petroleum Complex in Johor.
Some smart local politicians even suggested that the property boom was essential to cater for the expected new employment in hundreds of thousands, including many in senior posts, when the complex completes.
Now, the BAD NEWS.

The rapid decline in oil prices had affect PETRONAS really badly.
When the announcement of the development of PIPC, oil price was over US120.
And now, its below US30 and keep sliding downwards.
PETRONAS had announced the PIPC development will be pushed back to 2019.
They have also announced drastic cut in contract jobs in the company's non-core businesses which directly affect the sub-contractors which are also cutting jobs to save costs.
Overall, the whole sector is gloomy.
And just this week, BSN or Bank Simpanan Nasional, the national saving bank, which is equivalent to our POSB, is restricting approval of loans to people working in the once lucrative oil and gas sector.

For those who had invested in properties with anticipation of the employment boom with the completion of the PIPC will be in for a rude shock.
There will be an acute over supply in the property market with the indefinite delay of the PIPC.
Rental market in the next 4 to 5 years will be extreme bad and for the resale situation, it will be a buyers market, if there are actually enough uyers around.

 

[Tekkun]

Just about more than a year ago, there were so much buzz and excitement about the development of the PIPC or the Pengerang Integrated Petroleum Complex in Johor.
Some smart local politicians even suggested that the property boom was essential to cater for the expected new employment in hundreds of thousands, including many in senior posts, when the complex completes.
Now, the BAD NEWS.

The rapid decline in oil prices had affect PETRONAS really badly.
When the announcement of the development of PIPC, oil price was over US120.
And now, its below US30 and keep sliding downwards.
PETRONAS had announced the PIPC development will be pushed back to 2019.
They have also announced drastic cut in contract jobs in the company's non-core businesses which directly affect the sub-contractors which are also cutting jobs to save costs.
Overall, the whole sector is gloomy.
And just this week, BSN or Bank Simpanan Nasional, the national saving bank, which is equivalent to our POSB, is restricting approval of loans to people working in the once lucrative oil and gas sector.

For those who had invested in properties with anticipation of the employment boom with the completion of the PIPC will be in for a rude shock.
There will be an acute over supply in the property market with the indefinite delay of the PIPC.
Rental market in the next 4 to 5 years will be extreme bad and for the resale situation, it will be a buyers market, if there are actually enough uyers around.

Pengerang Intergrated Complex is in the far eastern side of Johore near Desaru.

 

[snowbird]

Pengerang Intergrated Complex is in the far eastern side of Johore near Desaru.

Yes, we all know that.
Remember when the project was first announced, there were so much excitement that this project will bring in professionals, managers, technicians, and the supporting industries and businesses, the logistics support, etc.......hence the tens of thousands of new housing units planned or under construction in JB were absolutely justifiable.
Then there were people who believed this had bought with anticipation of a healthy rental yield to cover their monthly loan repayment.
If this is the case, then their units may have to be left vacant for a much longer time.

 

[xebay11]

Yes, we all know that.
Remember when the project was first announced, there were so much excitement that this project will bring in professionals, managers, technicians, and the supporting industries and businesses, the logistics support, etc.......hence the tens of thousands of new housing units planned or under construction in JB were absolutely justifiable.
Then there were people who believed this had bought with anticipation of a healthy rental yield to cover their monthly loan repayment.
If this is the case, then their units may have to be left vacant for a much longer time.

Need I say more about Johor property market. Been there, done that.

 

[Tekkun]

Yes, we all know that.
Remember when the project was first announced, there were so much excitement that this project will bring in professionals, managers, technicians, and the supporting industries and businesses, the logistics support, etc.......hence the tens of thousands of new housing units planned or under construction in JB were absolutely justifiable.
Then there were people who believed this had bought with anticipation of a healthy rental yield to cover their monthly loan repayment.
If this is the case, then their units may have to be left vacant for a much longer time.

Investors are one funny kind especially Singaporeans (no offense to them). They are so eager to invest and to them any sort of information or announcement means sure got lobang to make money. They are all so pumped up hoping to beat each another earlier. Maybe they got too much of money and apart from property investment, share market or others but they do not have much opportunities to make money from other ventures.
They would scout around for the inside man to book their units.

Malaysian investors especially Johoreans are a different kind altogether. They all know those politicians who like to make news with feel good factors, empty talk. They are slow investors, assisted by the fact they do not have much money, they tend to shy away from these high end properties. If they have the money, they would buy land in their village and plant oil palm trees. The harvest of palm fruits would continue for years to come. Simple people with simple ideas like land banking for their children. Property wise, they prefer landed terrace houses with 3 or 4 rooms. Interestingly, most Malaysians do not envy others who make money from property investments. They only complain cos they cannot afford to buy them.

In the case of this Petroleum Chemical Complex, Malaysians have all seen huge similar ones in Kertih, Kemaman and Melaka, Tanjung Minyak. Is the property market near these refineries doing well? No, it is still as mundane as ever and Malaysians know that. So don't get overly excited, ok?

 

[Investor888]

Oil prices at all time low. Yes.

Those houses at Desaru were bought very cheaply.. RM 300K+ and with almost zero downpayment.

Now, the confirmed ( not asking ) rental is RM 3500 for terraces. Tell me, in JB city centre and Bukit Indah, are there any terraces being rented for RM 3500 a month?

I failed to buy any properties in Desaru because I am not familiar with that place.

And when the oil price starts to boom again, I cant imagine what will happen to the asking price again. The rentals are borned by companies so they wont bargain so much.

All the above are facts that I need to point out as I have friends and business associates such as lawyers and doctors who bought up properties in Desaru hoping to retire there but ended up renting out as the rental is simply tempting.

 

[Frodo]

Need I say more about Johor property market. Been there, done that.

But this is oil issue, not a problem about JB property market in particular, right?

 

[xebay11]

But this is oil issue, not a problem about JB property market in particular, right?

Generally this story seems to repeat itself, regardless of economic conditions.