Property News

[bakkuttay]

It is all about buying for investment purposes.

Buy for live in is entirely a different kettle of fish altogether.

Bought mine and staying in now, enjoy the lower cost of living, driving a car, most important, away from rule of greed.

 

[cow138]

In Johor better buy for own stay. Just relax and enjoy the big open spaces or seaside living if that's what you want.
Just relax.
Don't think of making money from flipping or rental.

 

[PuteriWorld]

Yeah better don't be greedy and believe in all these channel 8 advertisements from Country Gardens, R&F and Greenland.

These 3 developers, along with the forest city of course I will shun like plague. I don't even know if my offspring wants to stay in these mega houses in Danga Bay when I myself dislike Danga Bay as someone who has stayed in JB for a decade

It is all about buying for investment purposes.

Buy for live in is entirely a different kettle of fish altogether.

Bought mine and staying in now, enjoy the lower cost of living, driving a car, most important, away from rule of greed.

 

[sgcount]

It is easy to buy for own stay if you're already retiring or elderly.

But I feel there is still a feeling of uneasiness when u know it is not so easy to offload your apartment or house next time. You cannot predict what will happen. Maybe you want to move somewhere else. Maybe you got sick of the place, or want to get out of some future unfavorable policies.

Of course the worst hit will be the younger investors who thought they could buy into Iskandar for investment. This group will lose a lot of money and get no returns. I believe the SG govt is starting to get worried about them also.

 

[Relaxman]

Yeah better don't be greedy and believe in all these channel 8 advertisements from Country Gardens, R&F and Greenland.

These 3 developers, along with the forest city of course I will shun like plague. I don't even know if my offspring wants to stay in these mega houses in Danga Bay when I myself dislike Danga Bay as someone who has stayed in JB for a decade

I think those who bought other condos such as Setia sky 88, Astaka or Twin Galaxy will suffer more because many of these places located at a very matured area. There will be no change or development in that area anymore. Ugly environment especially with lots of banglas at the car wash outlets. Is just like buying a condo near Taman Pelangi / Taman Sentosa / Taman Century...... really not easy to change hand in future.

 

[cow138]

Yes. It would be pretty difficult to change the landscape.
Old buildings don't have renewal plans or zoning like in Singapore.
So difficult to rid of current businesses or old buildings.

 

[Relaxman]

Yes. It would be pretty difficult to change the landscape.
Old buildings don't have renewal plans or zoning like in Singapore.
So difficult to rid of current businesses or old buildings.

An expatriate will easily chosen danga bay sea view unit for rental than a condo surrounded by old and ugly buildings. Of course, the risk of snatch thieves in these matured areas are very high too.

 

[gooddebt]

I remembered someone said: Buy where land is limited, do not buy where land is endless. Sounds familiar?

Action speaks louder than words. Sultan, one of the biggest insider, sold his land at JB CC where land is supposedly limited and invested his billions into Nusajaya where land is supposedly endless. Period.

 

[Relaxman]

Plenty of jobs down south


JOHOR BARU: A total of 651,536 jobs opened up for job seekers in Iskandar Malaysia last year.

Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim identified the manufacturing, hospitality, food and beverage, as well as education sectors as areas where job opportunities were aplenty.

He said 2015 would be the final year for Iskandar Malaysia’s Comprehensive Development Plan second phase and that the region was well on track in realising its long term goals.

“We remain optimistic that the region will continue to attract a stable inflow of investments with upcoming projects that will continue to benefit the local community like the creation of more job opportunities,” he said.

Ismail also said that 845 students had graduated under the specialised Iskandar Malaysia Creative Industry Talent Development Programme (IMCITDP) and 70% of them had been successfully employed to support activities in the creative sector.

He added that the investments in the region would continue to benefit Malaysians as there was ample business opportunities for entrepreneurs, and small and medium enterprises (SMEs).

Meanwhile, he said that Iskandar Malaysia secured RM1.8bil in new investments in the fourth quarter of 2014.

This brings the total cumulative committed investments secured to RM158.13bil from 2006 until Dec 31, 2014.

He added that from the total cumulative committed investments, RM77.07bil or 49% represented investments that have realised on the ground.

From the total RM158.13 billion, 32% was from the manufacturing sector, 25% from residential properties, 15% from retail properties, eight percent from utilities and the rest was from healthcare, tourism and education.

“The investments has also promoted sectors including electrical and electronics, petrochemical and oleo-chemical, food and agro processing, logistics, tourism, healthcare, education, financial services and the creative industry,” Ismail said.

 

[Manhattan]

Action speaks louder than words. Sultan, one of the biggest insider, sold his land at JB CC where land is supposedly limited and invested his billions into Nusajaya where land is supposedly endless. Period.

Since 2007, Johor gov spend billions to build more than 60 km of 3 lanes roads, with all the utilities and fiber optics broadband ready for nusajaya, and hsr and coastal highway pass through it. If you look at nusajaya, it is not that big. All the industry like silc, fastrack, low cost housing, are surrounding nusajaya. No low cost housing in nusajaya. Nusajaya is like a white sheet of paper where the artist can work on, unlike jb city where the naughty boy had scribbled all over. So you tell me where should we invest? Look 10 years, don't feel jittery by the short term noise.

 

[Funniman]

Since 2007, Johor gov spend billions to build more than 60 km of 3 lanes roads, with all the utilities and fiber optics broadband ready for nusajaya, and hsr and coastal highway pass through it. If you look at nusajaya, it is not that big. All the industry like silc, fastrack, low cost housing, are surrounding nusajaya. No low cost housing in nusajaya. Nusajaya is like a white sheet of paper where the artist can work on, unlike jb city where the naughty boy had scribbled all over. So you tell me where should we invest? Look 10 years, don't feel jittery by the short term noise.

Just look at where the new international hotels are being built, the answer is obvious. If we do not know where to go, just follow the professionals.

 

[cybermad]

Since 2007, Johor gov spend billions to build more than 60 km of 3 lanes roads, with all the utilities and fiber optics broadband ready for nusajaya, and hsr and coastal highway pass through it. If you look at nusajaya, it is not that big. All the industry like silc, fastrack, low cost housing, are surrounding nusajaya. No low cost housing in nusajaya. Nusajaya is like a white sheet of paper where the artist can work on, unlike jb city where the naughty boy had scribbled all over. So you tell me where should we invest? Look 10 years, don't feel jittery by the short term noise.

Sometimes just use commonsense . just follow the insider when he pay real money . dun need to analyze till paralyzed ;-)

 

[Funniman]

Sometimes just use commonsense . just follow the insider when he pay real money . dun need to analyze till paralyzed ;-)

The MAN sold off everything there and invest everything here...

 

[Relaxman]

It is easy to buy for own stay if you're already retiring or elderly.

But I feel there is still a feeling of uneasiness when u know it is not so easy to offload your apartment or house next time. You cannot predict what will happen. Maybe you want to move somewhere else. Maybe you got sick of the place, or want to get out of some future unfavorable policies.

Of course the worst hit will be the younger investors who thought they could buy into Iskandar for investment. This group will lose a lot of money and get no returns. I believe the SG govt is starting to get worried about them also.

Exactly. Many investors / flippers now realised it and trying to run like in Setia Eco Cascadia project. Amazing if you see so many throwing their units at iproperty and propertyguru website.

 

[Wunderfool]

Exactly. Many investors / flippers now realised it and trying to run like in Setia Eco Cascadia project. Amazing if you see so many throwing their units at iproperty and propertyguru website.

Better to cut loss than to be stuck with a depreciating asset for years....

My friend got a house in Malaysia and was stuck for many years with negative equity until he sold it off at a slight loss...

Not all that glitters is gold.

 

[Relaxman]

Better to cut loss than to be stuck with a depreciating asset for years....

My friend got a house in Malaysia and was stuck for many years with negative equity until he sold it off at a slight loss...

Not all that glitters is gold.

Well said. These flippers are smart. Just why trying to let go even before VP. Those who are not so smart still believe they are hugging gold and in stage of self denial.

 

[PuteriWorld]

I truly agree. That is why I always avoid condos launches in JB EXCEPT in freehold PH where land is extremely limited. Every Tom Dick or Harries developers are launching and selling condos with a Pay RM 0 to own a condo.

When it TOP, I really wonder how on earth are the buyers, with RM 2k to RM 3k salaries are able to cope with the instalment?

I agree that Nusajaya is a white piece of paper which, when fully drawn, will be more beautiful than Singapore of course. I mean, just compare the ultra high-class condos that will spring up along the coast of Iskandar vs Singapore poor man HDB in 2025 and one will be mistaken that Singapore is JB and JB is Singapore. It will definitely happen unless developers like Greenland ( top 500 in Forbes ) close shop. Even if Far East or CapitaLand close shop, Greenland has billions to pump.

Better to cut loss than to be stuck with a depreciating asset for years....

My friend got a house in Malaysia and was stuck for many years with negative equity until he sold it off at a slight loss...

Not all that glitters is gold.

 

[PuteriWorld]

I agree that Nusajaya is not really that big. The real game haven't even started. If one is not a risk-taker, I suggest him to put all the money into the bank. If one can wait 10-20 years and even use the houses for retirement, hold.

The usable area in Nusajaya ( exclude govt buildings, roads, CIQ, HSR stations ) are probably 10% the size of Singapore

Since 2007, Johor gov spend billions to build more than 60 km of 3 lanes roads, with all the utilities and fiber optics broadband ready for nusajaya, and hsr and coastal highway pass through it. If you look at nusajaya, it is not that big. All the industry like silc, fastrack, low cost housing, are surrounding nusajaya. No low cost housing in nusajaya. Nusajaya is like a white sheet of paper where the artist can work on, unlike jb city where the naughty boy had scribbled all over. So you tell me where should we invest? Look 10 years, don't feel jittery by the short term noise.

 

[FHBH12]

5 reasons to be careful when buying residential property in Johor and Iskandar
PUBLISHED ON MAY 14, 2015 3:23 PM

BY REME AHMAD, ASSISTANT MONEY EDITOR

Private properties in Nusajaya, Iskandar. The huge number of residential units coming up in Johor, particularly in Iskandar, has raised the concern of the Singapore Government. -- ST PHOTO: KEVIN LIM

The huge number of residential units coming up in Johor, particularly in Iskandar, the development zone coming up to the south of the state, has raised the concern of the Singapore Government.

This is because a glut could cause a fall in property values.

The following are five reasons to be more careful when looking to buy across the border.

1. The looming supply

The Monetary Authority of Singapore board member Lawrence Wong told Parliament on May 11 that nearly 336,000 private residential units are in the pipeline in Johor, more than all the private homes currently standing in Singapore.Most of these units are coming up in Iskandar.

Malaysia's National Property Information Centre (Napic) said in its report released last month that ""incoming supply" of housing units in Johor state - units that are being built - total 142,567 units.

There are another 193,271 units under "planned supply" - with planning approval but awaiting construction.

Added together, they total 335,838 units.

This is nearly half of existing residential stock in Johor, which totals 719,421 units.

2. Even more supply from reclaimed land

An artist’s impression of Forest City in Johor. -- PHOTO: COUNTRY GARDEN PACIFICVIEW

The new units of homes coming up in Johor do not include another 1,400ha of reclaimed land near the Tuas Second Link that will come on stream from 2020, Mr Wong said.

The project he was referring to is the raising of four giant islands in the Strait of Johor off Tuas, that is named Forest City.

The master developer, Country Garden Pacificview said that when fully completed in 20 to 30 years' time, Forest City could have total residents of 700,000. The first phase of reclamation is to be ready in about five years' time.

Assuming one residential unit contains six people, it means that 116,666 homes would be built on Forest City over the next two decades or so, adding to the new supply of nearly 336,000.

3. Falling property prices

Johor property prices weakened the most in Malaysia in the last quarter of 2014, the latest period where data is available.

Johor prices dropped by 1 per cent in the September to December 2014 period, compared to the same quarter a year ago, according to a Maybank research report in April.

This is worse than the drop of 0.2 per cent for property prices in Kuala Lumpur, and a drop of 0.1 per cent in Penang during the same comparative period, Maybank said.

Kuala Lumpur, Penang and southern Johor are three most active property markets in Malaysia.

Mr Wong told Parliament that the number of Malaysian properties - not just in Johor - bought through real estate agents in Singapore fell from 2,609 in 2013 to 838 last year.

4. Curbs on foreign home buyers

Malaysia early last year doubled the minimum price of homes that foreigners can buy to RM1 million, thus reducing the number eligible to buy units in Johor.

In a move to curb then rising property prices, it also raised the capital gains tax to 30 per cent for properties sold by foreigners within five years of purchase. It taxes them 5 per cent thereafter, except for the Medini township in Iskandar. Medini is to be the downtown area for the Nusajaya flagship zone.

5. Danger of projects being abandoned

With the looming oversupply, there is the usual concern that sharp price falls could follow, and lead to some developers from completing their projects if their funds run dry as buyers stop coming in.

This is a remote possibility now in Iskandar. But there are signs of stress for developers already.

Maybank said in its report, that developers with land in the region are deferring their launches, or changing their property mix "so to avoid direct competition with the Chinese developers". They have also lowered their sales expectations for Iskandar, the bank said.

- See more at: http://www.straitstimes.com/news/bu...operty-iskandar-20150514#sthash.4Qdc5uUI.dpuf

 

[FHBH12]

I truly agree. That is why I always avoid condos launches in JB EXCEPT in freehold PH where land is extremely limited. Every Tom Dick or Harries developers are launching and selling condos with a Pay RM 0 to own a condo.

When it TOP, I really wonder how on earth are the buyers, with RM 2k to RM 3k salaries are able to cope with the instalment?

I agree that Nusajaya is a white piece of paper which, when fully drawn, will be more beautiful than Singapore of course. I mean, just compare the ultra high-class condos that will spring up along the coast of Iskandar vs Singapore poor man HDB in 2025 and one will be mistaken that Singapore is JB and JB is Singapore. It will definitely happen unless developers like Greenland ( top 500 in Forbes ) close shop. Even if Far East or CapitaLand close shop, Greenland has billions to pump.

Note Forest City close to Puteri Harbour. It is closer to 2nd link and offers better sea view. The Chinese developer is there for the long term and will release phase by phase to soak up demand in that area.