Property News

[potter]

I recall many shoplots at new launches priced at $1-2 mil RM were snapped up last year and this year. Commercial properties will be challenging in JB next year as online shopping and higher toll reduce the appeal of bargain shopping in JB.

2 wks back, bdo shoplots all snapped up. Smell no smoke.

 

[FHBH12]

2 wks back, bdo shoplots all snapped up. Smell no smoke.

It will only mean higher rental n prices in JB. Just like SG inflation.

 

[RedsYNWA]

2 wks back, bdo shoplots all snapped up. Smell no smoke.

Banking on Jusco BDO? Not necessarily will work, given the experience of shops near Jusco Tebrau. I feel Sutera Utama shops are safer....

 

[malpaso]

Banking on Jusco BDO? Not necessarily will work, given the experience of shops near Jusco Tebrau. I feel Sutera Utama shops are safer....

Sutera Utama, Perling and BI shops appear safer to me, too - the so called "skudai" corridor. Actually this area was a shite place 10-15 years ago, yah. Lots of gangs and armed robberies too around TUTA and Perling. I wonder how come it became more "huat" and genteel now compared to the areas east of the skudai highway.

 

[potter]

Banking on Jusco BDO? Not necessarily will work, given the experience of shops near Jusco Tebrau. I feel Sutera Utama shops are safer....

chicken grandmother. :p

 

[FHBH12]

Sutera Utama, Perling and BI shops appear safer to me, too - the so called "skudai" corridor. Actually this area was a shite place 10-15 years ago, yah. Lots of gangs and armed robberies too around TUTA and Perling. I wonder how come it became more "huat" and genteel now compared to the areas east of the skudai highway.

Difficult for me to imagine these places 15 years ago

 

[malpaso]

Difficult for me to imagine these places 15 years ago

i lived nearby for 2 years there during my student days. my buddy was a local TUTA boy. every week hear story of armed robbery.

 

[potter]

i lived nearby for 2 years there during my student days. my buddy was a local TUTA boy. every week hear story of armed robbery.

traumatized during yr sch days..

 

[snowbird]

I recall many shoplots at new launches priced at $1-2 mil RM were snapped up last year and this year. Commercial properties will be challenging in JB next year as online shopping and higher toll reduce the appeal of bargain shopping in JB.

Yeah, those who had snapped up the units are now probably worrying what to do next.
Take a visit to some of those retail shopping / office clusters sold last year or earlier like - Nusa Bestari, Sutera Utama, Tampoi, Impian Emas, etc.........all you see are lots and lots of unoccupied units with large banners hanging out the windows - "TO LET OR SALE - CALL XXXXXXXXX".

Even those in business aren't doing that great either.
Example like popular Bukit Indah, notice how many shops opened and closed within 1 to 2 years?

 

[RedsYNWA]

Sutera Utama, Perling and BI shops appear safer to me, too - the so called "skudai" corridor. Actually this area was a shite place 10-15 years ago, yah. Lots of gangs and armed robberies too around TUTA and Perling. I wonder how come it became more "huat" and genteel now compared to the areas east of the skudai highway.

Yah for shoplots those areas are better, esp Sutera Utama. It's a distinctly local enclave, and Sutera Mall's next phase 3 expansion will encompass Cineplex, Amusement Centre, Department Store and Ice-Skating Rink.

http://www.tanahsutera.com/johor-bahru-shopping-mall-sutera-mall-14.aspx

That said, I probably wont be doing any buying for the next 2 years. Time to accumulate some cash savings and wait for the right opportunity, though the urge to buy a Sutera Utama shoplot ahead of GST is quite tempting... hehehe......

 

[malpaso]

traumatized during yr sch days..

no la that time student no scared these kind of thing one. who want to rob a student with 20RM pocket money in wallet riding cub-chai?

 

[malpaso]

Yah for shoplots those areas are better, esp Sutera Utama. It's a distinctly local enclave, and Sutera Mall's next phase 3 expansion will encompass Cineplex, Amusement Centre, Department Store and Ice-Skating Rink.

http://www.tanahsutera.com/johor-bahru-shopping-mall-sutera-mall-14.aspx

That said, I probably wont be doing any buying for the next 2 years. Time to accumulate some cash savings and wait for the right opportunity, though the urge to buy a Sutera Utama shoplot ahead of GST is quite tempting... hehehe......

just curious, how much are they going for now? a sutera utama shoplot?

 

[RedsYNWA]

just curious, how much are they going for now? a sutera utama shoplot?

Asking is ard RM 2.6m. Yield is low I think........

http://www.iproperty.com.my/propertylisting/3048725/sutera-utama-shop-office-forsale

 

[Manhattan]

Asking is ard RM 2.6m. Yield is low I think........

http://www.iproperty.com.my/propertylisting/3048725/sutera-utama-shop-office-forsale

This is the typical case of 有价无市. Prices keep going up but when you want to sell, cannot find buyer.

 

[cow138]

Yes. Have to agree with that statement.
The difference is that people are usually attracted to the advertising and promises of profits when you sell.

 

[snowbird]

This is the typical case of 有价无市. Prices keep going up but when you want to sell, cannot find buyer.

Actually, some people had already given some very valuable advises here, only if others take notice and really think about it.
Some are indeed very practical ones, like -
If you NEED to use the rental to service the mortgage, don't try ,
Make sure you can sell the property and exit the market any time you wishes to, despite you don't even mind making a loss,
If buying from new development, make sure of developer's reputation, abandoned projects still happens here.

 

[Funniman]

Actually, some people had already given some very valuable advises here, only if others take notice and really think about it.
Some are indeed very practical ones, like -
If you NEED to use the rental to service the mortgage, don't try ,
Make sure you can sell the property and exit the market any time you wishes to, despite you don't even mind making a loss,
If buying from new development, make sure of developer's reputation, abandoned projects still happens here.

And never buy cos your salesman say it is a good deal. Go to the ground and feel for yourself.
Salesman want the comission only. After that, they are not bothered. That is their ultimate objective.

If you cannot afford to lose the deposit, don't buy
If you do not know about the developer, don't buy
If you cannot find your choice unit, don't buy

And yes..totally agreed. If you need rentals to cover your mortgage repayments, do not buy.
Life is not about struggling to invest, it is about enjoying your investments.

 

[snowbird]

"SICHUAN SANJIA IN TALKS TO SELL ITS ISKANDAR SITE" reported in the Straits Times today.

This China developer is supposed to develop a mixed residential project in Permas Jaya waterfront and to be launched by year end.
However, they had noticed the serious property glut is deciding to quit the JB market all together, offering to sell off their 1.64ha freehold site bought in 2012.
Looks like they will be packing their bags and leave soon.
Wonder who will be next.
Those thinking of buying, wait a little while for the coming soon fire sales!

 

[cow138]

And this problem is created by whom?

 

[enjoylife77]

Yeah, the massage shops are doing fine there.
Right now, the current situation for some large shopping malls in JB central -

Pacific Mall - still born (maybe going to be redeveloped)
JB Waterfront City - dead long ago
Danga Mall - half dead
Pelangi Plaza - half dead
Leisure Mall - half dead
Holiday Plaza - struggling very hard
Sentosa SC - still half dead after massive makeover
Merlin Tower SC - almost dead
Kota Raya Plaza - lots of people, few shoppers
And more out of town.

With no obvious improvement in immediate term and still, hundreds more shops are coming onto the market very soon.
What are the developers thinking??

Thanks for the update. I think the few vibrant mall will be City Square due to its easy access from CIQ, KSL as it is the newest kid on the block and Tebrau City/Tesco due to its gigantic size with good variety of eateries and captive customers.