Property News

[mpan12]

Surprised they so upfront and frank about this now.

And among those already sold, many are still left unoccupied.

Maybe needs time....

Johor has come out tops in the country with the most number of unsold units of property for the first quarter of 2016, Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim said

The state recorded 8,605 launches, of which 2,663 units that amount to RM1.7 billion have been left unsold which means about one third unsold!
And they belongs to the "high-end, high-rise and high-density segments that mainly consist of serviced apartments".
So with so many unsold new units left, those waiting to resell in the same unit type bought earlier will have to just wait and wait and wait...............unless you're desperate enough to sell lower than the new units.

http://www.themalaymailonline.com/m...alaysia-says-property-glut-nothing-surprising

 

[snowbird]

Eh...Malaysian lah...does not always mean Malay.

Then where you chuck your current wife?

 

[snowbird]

Surprised they so upfront and frank about this now.

And among those already sold, many are still left unoccupied.

Maybe needs time....

But you cannot hide stats!
The problem now is selling off all these balance units while in the meantime, its simply bad news for the resale market for the newly bought units in the last 3 years.

 

[xebay11]

But you cannot hide stats!
The problem now is selling off all these balance units while in the meantime, its simply bad news for the resale market for the newly bought units in the last 3 years.

Strange, the landed development by KSL at Mutiara Bestari is about 90% sold, I think Johoreans know value when they see.

 

[mpan12]

Maybe the early buyers got to wait years later before market picks up again?

Even the stats they can play around sometimes. The situation could be worse than 1/3 empty? Johor doesn't seem to show transparent property transaction records like Singapore.

All those cunning agents who used to say Buy buy buy! Good investment with rental income! Don't miss it! Now all disappear in thin air.

But you cannot hide stats!
The problem now is selling off all these balance units while in the meantime, its simply bad news for the resale market for the newly bought units in the last 3 years.

 

[snowbird]

Maybe the early buyers got to wait years later before market picks up again?

Even the stats they can play around sometimes. The situation could be worse than 1/3 empty? Johor doesn't seem to show transparent property transaction records like Singapore.

All those cunning agents who used to say Buy buy buy! Good investment with rental income! Don't miss it! Now all disappear in thin air.

But now, someone with authority is saying that the sales is so sluggish that as much as 30% of launched units were unsold!
So, for the ill-informed ones who listen to slimy salespeople, too bad.

 

[Frodo]

Then where you chuck your current wife?

Advice not applicable to married folks, but to investors still single.

 

[snowbird]

Advice not applicable to married folks, but to investors still single.

Wah, can hear your wifey sighing with great relief "heng ah"!

 

[whoami]

Yeah, circumcised and convert to Muslim.........can have up to 4 legal wives as long as you can manage to keep them well serviced.

U must be a sinkie. Very stereotyped. U can always marry a iban.

 

[snowbird]

U must be a sinkie. Very stereotyped. U can always marry a iban.

And so you must be a WHAT?

 

[rotikok]

Johor has come out tops in the country with the most number of unsold units of property for the first quarter of 2016, Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim said

The state recorded 8,605 launches, of which 2,663 units that amount to RM1.7 billion have been left unsold which means about one third unsold!
And they belongs to the "high-end, high-rise and high-density segments that mainly consist of serviced apartments".
So with so many unsold new units left, those waiting to resell in the same unit type bought earlier will have to just wait and wait and wait...............unless you're desperate enough to sell lower than the new units.

http://www.themalaymailonline.com/m...alaysia-says-property-glut-nothing-surprising

They can be frank now since those are foreigner or local chinese who want to flip. Those local who want to use and stay would not buy there in first place, at least not at that price level. Actually ghost town in nusajaya not bad, doesnt affect local that much. When HSR location finalised, those medini will lagi mati if train station is far away.

 

[mpan12]

It's bad for investors since they are the ones who need to make the money. Yes, unlikely for locals to buy.

So far, the proposed HSR is about 6km from Medini. By Singapore standard that's quite far. But if you drive, maybe considered near?

They can be frank now since those are foreigner or local chinese who want to flip. Those local who want to use and stay would not buy there in first place, at least not at that price level. Actually ghost town in nusajaya not bad, doesnt affect local that much. When HSR location finalised, those medini will lagi mati if train station is far away.

 

[snowbird]

It's bad for investors since they are the ones who need to make the money. Yes, unlikely for locals to buy.

So far, the proposed HSR is about 6km from Medini. By Singapore standard that's quite far. But if you drive, maybe considered near?

Those unsold are mostly "high-end, high-rise and high-density segments that mainly consist of serviced apartments" so it is quite clear already that the foreign buying had plateau some time back.
Those types are obviously targeted at foreign buyers.
Why would local want to buy those mentioned type of units when a semi-D is sometimes much cheaper.

 

[Tekkun]

Those unsold are mostly "high-end, high-rise and high-density segments that mainly consist of serviced apartments" so it is quite clear already that the foreign buying had plateau some time back.
Those types are obviously targeted at foreign buyers.
Why would local want to buy those mentioned type of units when a semi-D is sometimes much cheaper.

If these units cannot be sold, there will be hefty discounts to move them to the locals.
Foreigners will once again be hit. Come in with eyes closed. Kena fooled also dunno.
Too bad. This is the real world. You can make money but you can also lose money.
No one will bail these buyers out. Blame themselves for being too naive.

 

[snowbird]

If these units cannot be sold, there will be hefty discounts to move them to the locals.
Foreigners will once again be hit. Come in with eyes closed. Kena fooled also dunno.
Too bad. This is the real world. You can make money but you can also lose money.
No one will bail these buyers out. Blame themselves for being too naive.

True.
So now we shall see how long those developers can tahan holding on to those unsold units before lelong lelong to clear stock.
Also then its time to pick and choose a good bargain.

 

[Frodo]

True.
So now we shall see how long those developers can tahan holding on to those unsold units before lelong lelong to clear stock.
Also then its time to pick and choose a good bargain.

If there's a good bargain, will you buy?

 

[Tekkun]

True.
So now we shall see how long those developers can tahan holding on to those unsold units before lelong lelong to clear stock.
Also then its time to pick and choose a good bargain.

The good ones normally sold out before built.
It is those not so good ones that will undergo stress. But in Malaysia, you seldom hear lelong unlike Singapore. More likely you get free fit outs.
But I won't touch these unsold units. Cheap also no use.

 

[mpan12]

My suspect is that the developers would have made decent profits from their sales of the other units. Even if they don't sell the remaining unsold units, they can still hang on to them until maybe 2-3 years' time when hopefully, market improves. (Or it may not.)

The worry is more for the foreigners who are in it to make money. It's foreigners buy/sell to other foreigners. Locals likely won't touch them due to the high pricing.

These foreign buyers should realize it is now a problem if they simply want to earn $$$. If need to, new buyers will rather buy the remaining stocks, or even better still, projects that are totally new and under construction.

That's what my Malaysian friends told me. Unless the units are in a very prime location, or of good pricing, buyers prefer totally new projects. Easier to get bank loans also.

 

[snowbird]

The good ones normally sold out before built.
It is those not so good ones that will undergo stress. But in Malaysia, you seldom hear lelong unlike Singapore. More likely you get free fit outs.
But I won't touch these unsold units. Cheap also no use.

Lelong used here is a figure of speech for cheap sale.
Maybe leftover units are units at lower floors, not-so-good view etc.......look hard may find a gem.

 

[Frodo]

My suspect is that the developers would have made decent profits from their sales of the other units. Even if they don't sell the remaining unsold units, they can still hang on to them until maybe 2-3 years' time when hopefully, market improves. (Or it may not.)

The worry is more for the foreigners who are in it to make money. They should realize this is now a problem. If need to, new buyers will rather buy the remaining stocks, or even better still, projects that are totally new and under construction.

That's what my Malaysian friends told me. Unless the units are in a very prime location, or of good pricing, buyers prefer totally new projects. Easier to get bank loans also.

So maybe still got chance lah...if buyer happen to invest in a GCC (Good Class Condo) in good location.:p

Pathetically & sympathetically hopeful again LOL!