Property News

[ECboy]

Everybody can buy from foreigners. But who will buy a RM1m unit from the foreigner when the bank's valuation is only RM600k?

In conclusion, those in the mid-range bracket will lose out because of this RM1m restriction. If sell at RM600k (at cost), the locals don't want. If sell at RM400k, a great loss will be incurred to the seller. Only those high end properties will still have some hope.

Actually how many condo's in JB are really worth >1mil? Only a handful right?

 

[winners]

Actually how many condo's in JB are really worth >1mil? Only a handful right?

Spot on. Only those in prime locations can fetch this price and especially penthouses. JB has yet to reach the status of KL and Klang Valley.

 

[snowbird]

High floors more expensive, better views, high winds and cooler
High floor, lesser water flushing sound from drainage pipes
High floor lesser chance of water leakage either from some stupid upstairs owner polishing marble floor or from clogged drainage pipe

But I bought mid floor. Scared of heights.

So getting mid floor its less expensive but also lesser views, no high winds and not so cool.
But you might get more water flushing sound from drainage pipes and aren't you afraid that there's a higher chance of water leakage from some stupid upstairs owner polishing marble floor or from clogged drainage pipes?

 

[Tekkun]

So getting mid floor its less expensive but also lesser views, no high winds and not so cool.
But you might get more water flushing sound from drainage pipes and aren't you afraid that there's a higher chance of water leakage from some stupid upstairs owner polishing marble floor or from clogged drainage pipes?

Well..for starters, 20 plus floor is okie for me, I guess. Any owners try polishing floor above my floor,I will throw the DMC at him
Anyway, I never stay in a condo b4 so might as well enjoy what come may. Anyway it is a holiday home.

 

[ECboy]

Spot on. Only those in prime locations can fetch this price and especially penthouses. JB has yet to reach the status of KL and Klang Valley.

No I was really curious, which condos are perceived to be worth >1mil? Imperia, Sky88, Astaka & Summerscape?

 

[cybermad]

Well..for starters, 20 plus floor is okie for me, I guess. Any owners try polishing floor above my floor,I will throw the DMC at him
Anyway, I never stay in a condo b4 so might as well enjoy what come may. Anyway it is a holiday home.

Whats DMC ?

 

[Tekkun]

Whats DMC ?

Deed of Mutual Covenants.

You sign this undertaking that you promise to behave and be good neighbours
Actually it also spells out what you, your neighbours and developer can or cannot do with common areas.

 

[cybermad]

Deed of Mutual Covenants.

You sign this undertaking that you promise to behave and be good neighbours
Actually it also spells out what you, your neighbours and developer can or cannot do with common areas.

whether can be enforced is another thing...

 

[mpan12]

Anyway, with the avalanche of new condos to be ready in the next 2 to 3 years, I anticipate there will be more fire sales (for those sub-sales) unless those owners have strong holding power. I was told that the average selling price for Sky Loft from the developer at that time for those 1,615 sq ft units is between RM700k & RM800k, depending on floor level and facing.

1 good outcome from the agent though: he told me that he had just managed to secure a Japanese tenant in Sky Loft (21st floor) for RM3.6k. So, there could still be some hope. Also, whilst I was driving past the adhering AEON mall, I saw 2 Japanese mei-meis walking towards it, probably could be living nearby.

Actually, I'm trying to understand the psychology of buyers and tenants.

Sky Loft so huge 1,615 sq ft selling RM700-800k. Nearby D'Inspire released later sold at a much more expensive RM700-800psf I think.

Why would people buy expensive condos such as those costing RM700-800 psf when there are so many in JB going for much cheaper? Moreover, most will own a car. A short drive away can buy cheaper condos.

I wonder if parts of Iskandar is supported mainly by foreigners. The price increase does not seem to me to be supported by fundamentals, such as economy getting stronger, more jobs available, salary increment, etc. It's all done up by developers simply setting higher and higher prices for newer projects. With so many condos coming up and prices artificially increased this way, I think a bubble may happen.

Medini condos are a fine example. From an initial reasonable RM400-500psf (reasonable to foreigners, but still quite expensive to JB locals) the prices shot up to RM700-800psf within 1-2 years. Those in Puteri Harbour already hit in excess of RM1k psf. It's far too expensive.

Wonder if all these places will only have foreigners living. We might see a few regions being ghost towns once those condos are completed.

 

[ECboy]

Actually, I'm trying to understand the psychology of buyers and tenants.

Sky Loft so huge 1,615 sq ft selling RM700-800k. Nearby D'Inspire released later sold at a much more expensive RM700-800psf I think.

Why would people buy expensive condos such as those costing RM700-800 psf when there are so many in JB going for much cheaper? Moreover, most will own a car. A short drive away can buy cheaper condos.

I wonder if parts of Iskandar is supported mainly by foreigners. The price increase does not seem to me to be supported by fundamentals, such as economy getting stronger, more jobs available, salary increment, etc. It's all done up by developers simply setting higher and higher prices for newer projects. With so many condos coming up and prices artificially increased this way, I think a bubble may happen.

Medini condos are a fine example. From an initial reasonable RM400-500psf (reasonable to foreigners, but still quite expensive to JB locals) the prices shot up to RM700-800psf within 1-2 years. Those in Puteri Harbour already hit in excess of RM1k psf. It's far too expensive.

Wonder if all these places will only have foreigners living. We might see a few regions being ghost towns once those condos are completed.

With a flick of a pen, the demand will be hot again. All it takes is MY finally confirming and constructing HSR, RTS and PH Ferry, you'll see the demand spike again. I think this is a necessary calm for now, it was really getting out of hand a couple of years back.

 

[Tekkun]

Actually, I'm trying to understand the psychology of buyers and tenants.

Sky Loft so huge 1,615 sq ft selling RM700-800k. Nearby D'Inspire released later sold at a much more expensive RM700-800psf I think.

Why would people buy expensive condos such as those costing RM700-800 psf when there are so many in JB going for much cheaper? Moreover, most will own a car. A short drive away can buy cheaper condos.

I wonder if parts of Iskandar is supported mainly by foreigners. The price increase does not seem to me to be supported by fundamentals, such as economy getting stronger, more jobs available, salary increment, etc. It's all done up by developers simply setting higher and higher prices for newer projects. With so many condos coming up and prices artificially increased this way, I think a bubble may happen.

Medini condos are a fine example. From an initial reasonable RM400-500psf (reasonable to foreigners, but still quite expensive to JB locals) the prices shot up to RM700-800psf within 1-2 years. Those in Puteri Harbour already hit in excess of RM1k psf. It's far too expensive.

Wonder if all these places will only have foreigners living. We might see a few regions being ghost towns once those condos are completed.

Forget about prices for a while.
Assuming you are looking for a place to stay in Zone B, where would you stay?

 

[Frodo]

With a flick of a pen, the demand will be hot again. All it takes is MY finally confirming and constructing HSR, RTS and PH Ferry, you'll see the demand spike again. I think this is a necessary calm for now, it was really getting out of hand a couple of years back.

I agree with you. Many things are a consequence of policies. MY govt is known for prata-policies which can make or break one’s bueiness or financial plans. As much as we can count on prata policies to doom the property market, we can also count on prata policies to bloom the property market. One never knows when the MY govt may simply remove the property cooling measures, the one million minimum price etc. If they can easily turn Friday into a weekend and Sunday into a working day with just a stroke of a pen, they can flip any policy that impacts property any time.

 

[ECboy]

Forget about prices for a while.
Assuming you are looking for a place to stay in Zone B, where would you stay?

Puteri harbour

 

[Tekkun]

Puteri harbour

There is something being affluent. Got class. The feel of being in upmarket. And funnily, affluent people tend to stick together.
It is the same feeling as one feel extra shiok when shopping along Somerset / Orchard / Takashimaya compared to the same thing you get from Katong Shopping but at big different price.

Puteri Harbour => Ada Class.

 

[Frodo]

Puteri harbour

For me, it would be Bukit Indah. Closer to amenities at peasant prices.:p

PH very nice...but a bit too atas for me....and a bit isolated....I prefer to be nearer to coffee shops and malls...for peasants. LOL!

 

[Tekkun]

Price of any properties is important but it is not the first thing in your head when you look for one.
It is the type of lifestyle you want first before looking at prices.

You shortlist them first according to what you like (most of the times is what the wife like) and then you choose the one within your budget.
You do not buy a property based on pricing. You buy based on your liking.

 

[ECboy]

There is something being affluent. Got class. The feel of being in upmarket. And funnily, affluent people tend to stick together.
It is the same feeling as one feel extra shiok when shopping along Somerset / Orchard / Takashimaya compared to the same thing you get from Katong Shopping but at big different price.

Puteri Harbour => Ada Class.

If money is not an issue, then Penthouse unit at PH would be my pick. Either Sea or Marina facing. That's if we talking Zone B la.

 

[mpan12]

Price of any properties is important but it is not the first thing in your head when you look for one.
It is the type of lifestyle you want first before looking at prices.

You shortlist them first according to what you like (most of the times is what the wife like) and then you choose the one within your budget.
You do not buy a property based on pricing. You buy based on your liking.

How can buy property based on liking and not pricing??? I see you are getting over enthusiastic over your purchase of PH.

Yes, that's bcos you are buying for your own use.

If I can buy based not on pricing, I wouldn't even choose PH. Wouldn't even think about it. I would buy a nice island in the Caribbean Sea and create my own home there.

 

[Frodo]

Price of any properties is important but it is not the first thing in your head when you look for one.
It is the type of lifestyle you want first before looking at prices.

You shortlist them first according to what you like (most of the times is what the wife like) and then you choose the one within your budget.
You do not buy a property based on pricing. You buy based on your liking.

Your words in brackets ( ) LOL is spot on!

 

[Frodo]

How can buy property based on liking and not pricing??? I see you are getting over enthusiastic over your purchase of PH.

Yes, that's bcos you are buying for your own use.

If I can buy based not on pricing, I wouldn't even choose PH. Wouldn't even think about it. I would buy a nice island in the Caribbean Sea and create my own home there.

Aiya....already said if get to choose Zone B....