Property News

[sgcount]

https://www.youtube.com/watch?v=HMuMCKVmdFE

SP Setia CNY greetings... Bagus sekali. Best!

 

[mpan12]

Doom and Gloom for Iskandar?

These are the hard truths. I think it boils down to poor planning by the Malaysian side. After 10 years of development, Iskandar is still limping as a convincing investment area.

From Straits Times Feb 10:

- Skilled workers would prefer to work in Singapore, which is just a bridge away....There is not yet a large enough domestic population in and around the region to help alleviate the labour shortage.

- Moderating prices of industrial land in Singapore over the past one to two years also means Iskandar has become a less attractive option for companies.

- Some SMEs from Singapore have factories in Iskandar but are not even using them due to high labour costs.

- Things are going slowly on the development front....

- Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore.

- Despite the weakened Malaysian ringgit, which provided a lower entry cost for investors, there was not a notable increase in sales to foreigners. Upfront price discounts of up to 20% by some developers also failed to move units.

- Iskandar's housing market continues to struggle, as seen by falling numbers of transactions and project launches last year.

- Aggressive marketing of huge developments by Chinese developers has also stoked fears of a glut.

- Having hit the 10-year mark since its development plan was first unveiled, Iskandar still lacks proper industrialisation, where more business activity would help to generate demand for property.

- Currently, people are just buying houses there to use as second homes, while current market condition is made worse by recent reports of massive congestions at the Causeway.

 

[Investor888]

Best to stay in Nusajaya and make the decisions yourself. No point seeing how the writers write in the reports. Some Singapore writers especially are SPH mouthpiece. Do one really think they will write good articles about Malaysia and shoot down Singapore? There is still ISA in Singapore and freedom of media and speech is a farce in Singapore.

My advice is, stay in Nusajaya and hav a look. Open your eyes and ears and observe.

Doom and Gloom for Iskandar?

These are the hard truths. I think it boils down to poor planning by the Malaysian side. After 10 years of development, Iskandar is still limping as a convincing investment area.

From Straits Times Feb 10:

- Skilled workers would prefer to work in Singapore, which is just a bridge away....There is not yet a large enough domestic population in and around the region to help alleviate the labour shortage.

- Moderating prices of industrial land in Singapore over the past one to two years also means Iskandar has become a less attractive option for companies.

- Some SMEs from Singapore have factories in Iskandar but are not even using them due to high labour costs.

- Things are going slowly on the development front....

- Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore.

- Despite the weakened Malaysian ringgit, which provided a lower entry cost for investors, there was not a notable increase in sales to foreigners. Upfront price discounts of up to 20% by some developers also failed to move units.

- Iskandar's housing market continues to struggle, as seen by falling numbers of transactions and project launches last year.

- Aggressive marketing of huge developments by Chinese developers has also stoked fears of a glut.

- Having hit the 10-year mark since its development plan was first unveiled, Iskandar still lacks proper industrialisation, where more business activity would help to generate demand for property.

- Currently, people are just buying houses there to use as second homes, while current market condition is made worse by recent reports of massive congestions at the Causeway.

 

[Frodo]

Best to stay in Nusajaya and make the decisions yourself. No point seeing how the writers write in the reports. Some Singapore writers especially are SPH mouthpiece. Do one really think they will write good articles about Malaysia and shoot down Singapore? There is still ISA in Singapore and freedom of media and speech is a farce in Singapore.

My advice is, stay in Nusajaya and hav a look. Open your eyes and ears and observe.

No such thing as an unbiased or neutral person, ya?

 

[Tekkun]

No such thing as an unbiased or neutral person, ya?

You mean keyboard warriors?

 

[Frodo]

Doom and Gloom for Iskandar?

These are the hard truths. I think it boils down to poor planning by the Malaysian side. After 10 years of development, Iskandar is still limping as a convincing investment area.

From Straits Times Feb 10:

- Skilled workers would prefer to work in Singapore, which is just a bridge away....There is not yet a large enough domestic population in and around the region to help alleviate the labour shortage.

- Moderating prices of industrial land in Singapore over the past one to two years also means Iskandar has become a less attractive option for companies.

- Some SMEs from Singapore have factories in Iskandar but are not even using them due to high labour costs.

- Things are going slowly on the development front....

- Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore.

- Despite the weakened Malaysian ringgit, which provided a lower entry cost for investors, there was not a notable increase in sales to foreigners. Upfront price discounts of up to 20% by some developers also failed to move units.

- Iskandar's housing market continues to struggle, as seen by falling numbers of transactions and project launches last year.

- Aggressive marketing of huge developments by Chinese developers has also stoked fears of a glut.

- Having hit the 10-year mark since its development plan was first unveiled, Iskandar still lacks proper industrialisation, where more business activity would help to generate demand for property.

- Currently, people are just buying houses there to use as second homes, while current market condition is made worse by recent reports of massive congestions at the Causeway.

"Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore."

In my view, the above is really the main issue...but as someone else has astutely stated, this problem can never be solved. If the capacity of the causeways are expanded, the number of vehicles crossing the causeways will also increase to fill up the capacity as more MY workers crossover to work and more Singaporeans crossover to stay. You can call this the “crossover project”! LOL! And if more workers from other states in MY are coming over to Singapore to work it also means more demand for JB properties, and this would also be coupled with more demand for residential properties from Singaporeans who cross over to stay, or maybe just buy as vacation home because of the relatively eased traffic conditions.

 

[ECboy]

"Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore."

In my view, the above is really the main issue...but as someone else has astutely stated, this problem can never be solved. If the capacity of the causeways are expanded, the number of vehicles crossing the causeways will also increase to fill up the capacity as more MY workers crossover to work and more Singaporeans crossover to stay. You can call this the “crossover project”! LOL! And if more workers from other states in MY are coming over to Singapore to work it also means more demand for JB properties, and this would also be coupled with more demand for residential properties from Singaporeans who cross over to stay, or maybe just buy as vacation home because of the relatively eased traffic conditions.

I stated that! lol

Some will hate me for saying this but, I think a good solution is dynamic pricing on the causeway/second link, price increase on peak and decrease on low. Make sense right.

Another comes from the company side, but this is even more unlikely as they don't give 2 sh**ts about employees. Allow flexible working hours or remote working capability. Most of the time, this is stronger talent attraction than a 15% increment in salary.

I used to lead HR in a tech company and our employees are seldom in the office, they travel overseas often can work from home, they only come to office when they have too or they feel like it. However, at the end of the day, everyone is accountable for their individual deliverable s.

It takes a mature working culture to make this happen and i think SG/MY/SEA as a whole is not there yet. Silicon Valley this is very very common, which allow ppl from Bay area to work in Palo Alto and vice versa, easily a 2hr commute/way. Maybe LHL visit to SV last week will open his eyes

 

[Frodo]

I stated that! lol

Some will hate me for saying this but, I think a good solution is dynamic pricing on the causeway/second link, price increase on peak and decrease on low. Make sense right.

Another comes from the company side, but this is even more unlikely as they don't give 2 sh**ts about employees. Allow flexible working hours or remote working capability. Most of the time, this is stronger talent attraction than a 15% increment in salary.

I used to lead HR in a tech company and our employees are seldom in the office, they travel overseas often can work from home, they only come to office when they have too or they feel like it. However, at the end of the day, everyone is accountable for their individual deliverable s.

It takes a mature working culture to make this happen and i think SG/MY/SEA as a whole is not there yet. Silicon Valley this is very very common, which allow ppl from Bay area to work in Palo Alto and vice versa, easily a 2hr commute/way. Maybe LHL visit to SV last week will open his eyes

You are astute!

My view is that dynamic pricing will only have a short term effect. Once both govts realise that demand is relatively inelastic they will not use it to regulate traffic but use it to generate revenue. Look at our ERP, expensive to use the highways but still jammed. This makes our govt very happy, building up reserves while at the same time Singaporeans are also penting up their frustrations.

 

[Investor888]

That is why we see more and more residents in JB who do not work in Singapore. The numbers are increasing. So many MNCS, they don't just uproot into Iskandar from Singapore. In fact, they BYPASS Singapore to set up factories in JB. However, these residents visit Singapore for leisure during weekends

"Until the Causeway and Second Link congestions are solved, this region (Iskandar) will be held back. It will not be able to to fully realize the potential of being complementary to Singapore."

In my view, the above is really the main issue...but as someone else has astutely stated, this problem can never be solved. If the capacity of the causeways are expanded, the number of vehicles crossing the causeways will also increase to fill up the capacity as more MY workers crossover to work and more Singaporeans crossover to stay. You can call this the “crossover project”! LOL! And if more workers from other states in MY are coming over to Singapore to work it also means more demand for JB properties, and this would also be coupled with more demand for residential properties from Singaporeans who cross over to stay, or maybe just buy as vacation home because of the relatively eased traffic conditions.

 

[Investor888]

No such thing as an unbiased or neutral person, ya?

Even if there are neutral parties, the best is to have a look and feel it yourself. A lot of chaps like to talk down or talk up according to their own discretion but who the F are they? Billionaries? Many so-called property experts too everywhere u go

I personally know people who make millions from Iskandar and Singapore properties. Drive around in luxury cars but they don't comment as though they know best. The same advice is always dished out: Experience Yourself

On the other hand I got many property agents who got zero sales for a few months, drive around in a 2nd hand BMW but stay with papa mama in 3 room flat talk big and even talk down to me when they bring me for viewings. These are the type of chaps who will always talk down on Iskandar because Iskandar rise is Singapore agents' doom

 

[xebay11]

Even if there are neutral parties, the best is to have a look and feel it yourself. A lot of chaps like to talk down or talk up according to their own discretion but who the F are they? Billionaries? Many so-called property experts too everywhere u go

I personally know people who make millions from Iskandar and Singapore properties. Drive around in luxury cars but they don't comment as though they know best. The same advice is always dished out: Experience Yourself

On the other hand I got many property agents who got zero sales for a few months, drive around in a 2nd hand BMW but stay with papa mama in 3 room flat talk big and even talk down to me when they bring me for viewings. These are the type of chaps who will always talk down on Iskandar because Iskandar rise is Singapore agents' doom

Wow show me the success stories of guys who make millions from iskandar properties as owners please, agents don't count.

Since you say you know them personally, a blow by blow account of which units they buy at and how much they flip for to make those millions. Very interesting.

 

[sgtsk]

Do you know Wuqi and many of those who invested since 2007 or earlier?

 

[eatshitndie]

It takes a mature working culture to make this happen and i think SG/MY/SEA as a whole is not there yet. Silicon Valley this is very very common, which allow ppl from Bay area to work in Palo Alto and vice versa, easily a 2hr commute/way. Maybe LHL visit to SV last week will open his eyes

while i agree that a flexible and mobile work culture such as telecommuting is great for employees in the valley, the top 3 tech companies (apple, facebook, google) are not encouraging that. for smaller tech companies and start-ups where employees' contributions are measured by results and the funding success of the companies, effectiveness and productivity are key. employees can be on vpns to company servers via laptops anywhere so long as they produce timely and effective work. for companies like apple, facebook, google, they send buses equipped with wi-fi to pickup spots in sf, south bay, east bay, north bay (marin) to gather employees living there and bus them to their respective campuses in cupertino, palo alto/menlo park, mountain view. an average ride in those buses requires about 2 hours 1-way. these companies want their employees to show up for work and mingle around during meal times to exchange ideas and increase innovative energy. they are like college campuses where employees spend more time with other employees than family. innovation, imo, improves than having employees work in isolation via email, web conferencing, and vpn.

 

[ECboy]

while i agree that a flexible and mobile work culture such as telecommuting is great for employees in the valley, the top 3 tech companies (apple, facebook, google) are not encouraging that. for smaller tech companies and start-ups where employees' contributions are measured by results and the funding success of the companies, effectiveness and productivity are key. employees can be on vpns to company servers via laptops anywhere so long as they produce timely and effective work. for companies like apple, facebook, google, they send buses equipped with wi-fi to pickup spots in sf, south bay, east bay, north bay (marin) to gather employees living there and bus them to their respective campuses in cupertino, palo alto/menlo park, mountain view. an average ride in those buses requires about 2 hours 1-way. these companies want their employees to show up for work and mingle around during meal times to exchange ideas and increase innovative energy. they are like college campuses where employees spend more time with other employees than family. innovation, imo, improves than having employees work in isolation via email, web conferencing, and vpn.

I was on a company bus from Bay Area (Market St.) to Palo Alto and i can tell you these buses are not like the 170/CW buses here. Very state of the art, with lounge area and yes WIFI! Only keyboard sounds can be heard in the bus

Once, the wifi was down and everyone (especially out of towners) was super anxious, we actually had to chat with ppl, ugh... :p

 

[xebay11]

Even if there are neutral parties, the best is to have a look and feel it yourself. A lot of chaps like to talk down or talk up according to their own discretion but who the F are they? Billionaries? Many so-called property experts too everywhere u go

I personally know people who make millions from Iskandar and Singapore properties. Drive around in luxury cars but they don't comment as though they know best. The same advice is always dished out: Experience Yourself

On the other hand I got many property agents who got zero sales for a few months, drive around in a 2nd hand BMW but stay with papa mama in 3 room flat talk big and even talk down to me when they bring me for viewings. These are the type of chaps who will always talk down on Iskandar because Iskandar rise is Singapore agents' doom

Still waiting for your reply on examples of Iskandar investors making millions, or should I put it as CSB?

 

[xebay11]

Still waiting for your reply on examples of Iskandar investors making millions, or should I put it as CSB?

http://www.propertyguru.com.sg/prop...6/2/117598/10-years-on-iskandar-is-struggling

Iskandar’s housing market continues to struggle, as evidenced by the drop in new launches and sales transactions last year, reported The Straits Times recently.

In fact, the number of high-rise residential projects launched last year fell to about a dozen, from 24 in 2014 and 49 in 2013, revealed property consultancy Savills.

Data from the National Property Information Centre (Napic) showed that sales of apartments and condo units for the first three quarters of 2015 dropped 23 percent year-on-year to 1,368 units.

Christopher Boyd, Executive Chairman at Savills Malaysia, noted that the drop in launches can be attributed to developers exercising self-regulation and restraint. In addition, some may be struggling to secure financing.

The slowdown first hit the market in mid-2014 following reports of rising property prices and oversupply concerns. The introduction of the goods and services tax, cooling measures, and the country’s turbulent political scene inevitably affected market confidence.

Fears of a glut were also stoked by the aggressive marketing of mega projects by Chinese developers.

The instability of the ringgit and the general economic slowdown saw most investors adopting a wait-and-see approach, said Landserve (Johor) Executive Director Wee Soon Chit.

Iskandar, which has entered its 10-year mark since its development plan was unveiled, still lacks proper industrialisation, whereby more business activity could help spur demand for property. In fact, people are only buying houses there to use as second homes.

Nonetheless, developers and property consultants remain confident about the region’s prospects.

“We are encouraged by the massive infrastructure improvements in Iskandar, as well as the investment that has gone into job-creating industries. This, and the logic of the location, guarantees substantial future demand for housing,” said Boyd.

“Sure, some developers jumped the gun, but it is only a matter of time before the market takes off again, and, at some time in the future, house prices in Iskandar could easily become the highest in the country.”

Property Guru are keyboard warriors too? I think at least unbiased and neutral keyboard warriors are still better than biased and vested keyboard warriors? No? or are you guys to blind to know the difference?

10 years and Iskandar still struggling and yet some KB warriors claim that there are investors making millions??????

 

[freekazoid]

You are very experience dude...you should know published stuff one day say good another day say bad...

Now some sharing....none property related news. make your own judgement. 600k working adults do day trip to Singapore...JB per capital income is very high even for a guy work at your local favorite economy rice stall.

https://sg.news.yahoo.com/says-malaysians-reluctant-hands-dirty-ngos-claim-600k-050600388.html
KUALA LUMPUR, Feb 17 — Several non-governmental organisations challenged today Putrajaya’s assertion that Malaysians were not keen to work in dirty, dangerous and difficult (3D) industries, claiming that 600,000 citizens were willing to become menial labourers in neighbouring Singapore where salaries were commensurate with the job scope.

 

[Tekkun]

You are very experience dude...you should know published stuff one day say good another day say bad...

Now some sharing....none property related news. make your own judgement. 600k working adults do day trip to Singapore...JB per capital income is very high even for a guy work at your local favorite economy rice stall.

https://sg.news.yahoo.com/says-malaysians-reluctant-hands-dirty-ngos-claim-600k-050600388.html
KUALA LUMPUR, Feb 17 — Several non-governmental organisations challenged today Putrajaya’s assertion that Malaysians were not keen to work in dirty, dangerous and difficult (3D) industries, claiming that 600,000 citizens were willing to become menial labourers in neighbouring Singapore where salaries were commensurate with the job scope.

Different takes on this foreign workers.

1. The Government is forcing employers to employ and pay higher wages for local workers so that the money stay inside the country and productivity plus hr development is good for long term succession. Of course the Inland Revenue would be very happy.

2. There are some 2 million registered foreign workers and another 2 million illegal workers here in Malaysia and that give a lot of social problems from petty crimes to diseases. Not to mention the space they take up in parks, hospitals and trains just like in Spore.

3. Malaysia just signed TPPA and it have to reduce cost as much as possible so that it remained competitive. Foreign workers in Malaysia is paid lower than local workers. Employers are happy in this case.

For or against, it depend on which part of fence you are in.

 

[xebay11]

Different takes on this foreign workers.

1. The Government is forcing employers to employ and pay higher wages for local workers so that the money stay inside the country and productivity plus hr development is good for long term succession. Of course the Inland Revenue would be very happy.

2. There are some 2 million registered foreign workers and another 2 million illegal workers here in Malaysia and that give a lot of social problems from petty crimes to diseases. Not to mention the space they take up in parks, hospitals and trains just like in Spore.

3. Malaysia just signed TPPA and it have to reduce cost as much as possible so that it remained competitive. Foreign workers in Malaysia is paid lower than local workers. Employers are happy in this case.

For or against, it depend on which part of fence you are in.

Point 1 has no logic, why not let other countries pay the higher wages and Malaysia just ride on the inflow of remittances? This is the strategy of Philippines, besides exporting Del monte Bananas their next biggest export is human labour, they go to the best economies of the world and just bring back the growth.

 

[Tekkun]

Point 1 has no logic, why not let other countries pay the higher wages and Malaysia just ride on the inflow of remittances? This is the strategy of Philippines, besides exporting Del monte Bananas their next biggest export is human labour, they go to the best economies of the world and just bring back the growth.

It was reported that foreign workers remitted almost RM500 million (tax free) every month overseas. A lot of these are from illegal workers from Indians, Pakistanis, Banglas, Viets, Burmese, Nepal, etc. through money changers, the so call black money network. They can't stop them so the next logical step is to employ locals to cut off foreigners. Locals who has nothing to do resort to politicking and crimes to survive. Besides locals pay taxes too.

The Government is even raising the levy to RM 2500 to employ a foreign worker for 3 years. If it is a illegal worker, you can legalise them by paying RM 1200. But if you are caught employing illegal ones, then it is a very hefty fine.