People like Tekkun can laugh, all Sinkies who bought for profit will be stuck, good luck to them. Should I use my oft quoted phrase "just rent" and you can enjoy all the good things about Johor and sleep soundly at night Zzzzzzzzz!
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Property News
- Thread starter FHBH12
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People like Tekkun can laugh, all Sinkies who bought for profit will be stuck, good luck to them. Should I use my oft quoted phrase "just rent" and you can enjoy all the good things about Johor and sleep soundly at night Zzzzzzzzz!
There are lots of completed condos which are "sandwiched" in this situation, especially those 2 and 3 bedders.
Their prices are between RM400k and RM700k but cannot be sold to foreigners because of the RM1m ruling. Locals deem them too expensive and would easily prefer landed units.
So how? Get a Malaysian mei-mei and register in her name lah, just like those rich Hongkongers buying properties in Shenzhen and Guangzhou.
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To Malaysians they don't worry much. It's their country and their government can protect them. Or at least, they have more favorable options. For foreigners, like Singaporeans, the risks are there.
Even though some may say I'm staying there, so I'm safe. But if you can't even sell it off next time as and when you wish, I think it's as good as saying your money's gone. Then it's much worse than renting. It just gives you the sense of false security you "own" the home. But your liquid cash is locked.
If you can find pittance rental, some say get something better than nothing. I don't think so. Work out the maths. It doesn't make sense. Rental is too cheap in Johor. You are paying for your tenants to enjoy (and maybe have fun dirtying the walls/floor or damaging your furniture).
It's like you get screwed once by the Msian govt to buy all these expensive condos, then you get screwed the second time by your tenants. The third time you get screwed is when you realize no one wants to buy your property over. So indirectly, the authorities have managed to employ you for free to help the expats and visitors find a place to rent for dirt cheap prices.
Malaysian mei-mei bagus!
Ok seriously, yes... RM400-700k Malaysians already find them expensive. These prices I believe were pre-2013. 2013 onwards, many were RM600k to RM900k or more. Who will buy over next time?
Johor's economy cannot possibly be boosted so quickly that the average salary of even their professional becomes RM15-20k a month to afford all these properties. Foreigners also won't buy when there are newer ones always coming up. With an oversupply, developers can't possibly sell them high.
I foresee either a ghost town coming up, or there will be a bubble and prices start to tumble when the desperate ones want to unlock their cash from their properties. Will be bad if it really happens. Just my 2 cents opinion....
Ghost town may only be applicable to those yet to be completed new developments, especially from those China developers where the number of units are huge.
If you go to the Malaysian PropertyGuru website, there are already several condos (eg: Tropez) on auction sales. When buying from auctions, do note that the buyer may be liable to pay for all maintenance fees which the seller had defaulted.
On a serious note, to overcome the RM1m ruling, 1 method is to set up a dormant company and register the unit in its name. However, there may be a lot of red-tapes and paperwork to be done.
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CG Danga Bay and Forest City will likely be.
Already 1Medini at Medini side is a ghost town. More to come.
Not to worry. Frodo is confirmed, chopped and double-confirmed to retire in JB. He's getting the keys to his 2nd unit soon. As he had said before, all these will eventually be titled to his children. Can I be his god-son or better still, his son-in-law? lol.
The worse kind of investment are the type where you cannot liquidate it anytime you wanted to.
I've said this numerous times before, many who have bought properties in MY don't know a thing about the resale rules and regulations when worse still, this rules and regulations can be changed anytime, usually to your disadvantage.
By having all kinds of rules and regulations to restrict or to discourage foreigners from selling off their properties easily is a form of anti-speculation means but it is also an effective method to prevent capital flight.
Many had probably forgotten about that CLOB debacle whereby tens of billions of SG money were trapped in MY and the investors can do absolutely nothing except to curse and swear.
What to do? Who am I to tell them what to do? No, I don't laugh at them. I have nothing to gain from it. I just do my own thing.
I tell them to go left, they say they are going right. I say start small, they say buy 2 get 1 free when they flip.
I tell them to buy freehold, they tell me what for? No difference wat. Leasehold cheaper. They don't even know the basics of land titles. I think none of them ever seen a land title deed before. I say buy limited land area, they say...that other side so much cheaper.
But it is their money, so better shuddap. I don't want to kaypoh. No one will thank me if they make money but they will curse if I give wrong advice.
I can only say this is what I am doing. I am a local. I know ground situation better. You see, you like, you follow. If not...bye bye.
Again, I don't laugh at other's people misery.
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Yes, many Singaporeans are already trapped with their Iskandar properties and cannot liquidate because of the RM1mil rule. Imagine they happily bought in 2013 their RM500k-900k condos, thinking they want to do some form of investment. Then in 2014, the RM1mil rule came. Habis la. Tunggu sampai mati! (Finished. Wait until you die!)
But we can't blame all of them for their greed by wanting to flip. Some bought because they genuinely wanted their money to work hard. But instead, now kena trapped and will be bleeding away with low or no rental, and no one to buy over.
Actually, what are the most important rules an regulation about resale in Johor or Malaysia? I've heard:
1. Malaysians generally don't go for resale units if possible because they can get newer ones somewhere somehow (lots of land in Johor). Also bank loan is easier for new properties.
2. Even after 10 years, JB property prices may remain the same. So buyers can choose till they are happy.
Are the above true?
Thanks for sharing. I'm still learning.
I've always been curious about auction sales. How do they happen? Do the owners have to declare they are bankrupt, or they simply tell the bank they don't wish to pay any more, the bank confiscates the property and they will lose all the previous deposits and loans paid?
How important is leasehold and freehold for Malaysian properties?
In SG, generally freehold ones cost more than leasehold. But for investment purposes, there is hardly any difference in terms of profits that can be made, unless the leasehold ones are really getting old.
I also did ask previously but haven't figured it out. Why is Medini so special and the only part of Iskandar given "leasehold" status? Puteri Harbour is close by but it's freehold. Any consequences of being leasehold?
I don't mean laugh at the poor fools but laugh at the policy changes and flip flops by the Malaysian government, as it usually only affects foreigners negatively.
Many forummers do hold you in high respect here and think that just because you are a fellow investor then they are alright but nothing can be further from the truth as you are Malaysian and buying in Malaysia and that makes a huge difference in risk exposure.
Malaysian policies are always consistent.
It is how you interpret it. It is like 0 = zero nothing. In Malaysia 0 = infinity.
Just like mpan12 says..he haven't even figure what is the difference between leasehold and freehold. That itself tell you he has not seen a titledeed before and what it is stated in it. To me, that is the basic fundamental of any property consideration, let alone investment.
In SG leasehold is a total no no, assuming freehold will be under your family for 1,000 years ie. ten generations and leasehold only lasts one generation and yet costs 80% of freehold. Also unique in Singapore is the issue of loans from bank and payment using cpf funds, I think once the property reaches 35 years cpf cannot be used to pay for the property. Basically making it almost worthless.
That is why barring HDB investments, which I am getting about 5% returns, my residential investments are all freehold.
He is asking on investment implications, I am sure he knows the difference between the two. Anyway I think only less than 10% of Singaporeans have seen a real land title deed as it usually only applies to landed property owners.
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Sorry why do you say they are jialat? They bought their freehold landed houses back the @ just S$180-S$300k Spore dollars while their Spore counterparts bought HDB flats @ $400-$800k + and prices are dropping.
The buyers of Malaysian homes back then are enjoying their cheap cheap lifestyle in JB without worrying about anything. The prices are so cheap. Why worry?
The buyers of Malaysian homes back then are enjoying their cheap cheap lifestyle in JB without worrying about anything. The prices are so cheap. Why worry?
You reproduced my earlier post in your reply. Do read carefully which category of people I said jialat and under what situation.
Prices in SG are dropping (only slowly) due to the slow economy. It's the same with JB and other countries. So nothing surprising. Also, there are many cooling measures in SG. If the govt remove them now, believe in your own eyes and faith that the prices will fly again.
Even today, my property in Singapore is holding well after appreciating quite a bit. I don't see any drop and the sales of my neighbours' units have been healthy. Got agent flyers everyday wanting to sell for us.
That's assuming you want to keep for that long and pass down for generations. But strictly for investment, even for a long time line like 20-25 years, it's still very safe to buy leasehold properties in SG. The value will be there.
Anyway, freehold properties are within reach of more buyers last time. Today, it's only "affordable" for the richer and upper class ones.
All HDB flats are leasehold but look at how it gave many Singaporeans the returns over the years.
SG property market is strong. Many foreign investors love it even till today, though they are more cautious or less interested after the cooling measures were introduced.
If I am a buyer, I'd likely buy a 5 years old leasehold condo than a 20 years old freehold condo just judging on the age factor alone.
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