Property News

[Tekkun]

You have so far been firm in your stand on why you choose to live in Iskandar. I feel your reasoning is sound.

But there are many others here whose reasoning is very shaky and are in delusion. For eg, they think there will be a hospital coming up, some schools, so no worries! I can surely rent out my condo.

Hello? Have you checked how many condos will be built? There will be thousands being released just in the next 2 years. And possible a few hundred thousands more within the next 10 years. How many amenities will there be for your tenants to come from?

Next, what is the rental like? Can it even cover your bank loan? What if you don't have tenant in the next 7-10 years? Have you calculated your losses every month? Did you see how those who paid for their condos 2 years ago have already lost a hefty 20% due to RM currency? It can happen to you too. The scariest part: What if you can't even sell your condo next time, which is very likely? You will lose a few hundred thousand S$!

The wrong move they have is they think Iskandar is like Singapore. Even Singapore with more than 5.4 million population, a safe and attractive business country, and new property developments much fewer than Iskandar, the SG government and developers are worried now. They are not sure how to sell the vacant units. Landlords are complaining rents are going down even though they can find tenants.

Iskandar with so little development in the next 10-15 years, but with more than 300k new properties coming up, how??? It's going to be a landlord's nail in the coffin. You think give another 20 years, Iskandar can even come close to what you see in Singapore? Dream on. I'm not saying it won't move. But for it to expand economically and be a bustling city, we are possibly looking like more than 50 years? Msia government is nowhere as strong as SG's btw. Your condo will by then already rot and... we won't even be around any more!

Some say I bought in Puteri Harbour, so nice view condo, sure got tenants one. Huh?? You sure? There are units sold near to SG where you can "swim with the dolphins" and right out of your window, you can see the sea. It cost above S$400k. The view is so much better than your Puteri Harbour. You dare to buy? Having a good view is not a guaranteed investment.

I came across this ridiculous post:

http://sammyboy.com/showthread.php?160905-Iskandar-Residences-Medini/page17

This is what a forummer "comfy" said:

1) first of all, I am vested heavily - so view may be biased haha.......

2) I truly positive about Iskandar and Malaysia as whole - in a long run. If anyone offer me a country to own, I will pick Malaysia over many SEA countries....Full of natural resources, oil and even gold belts.....how to harvest? that is another story.

3) Newspaper reporting and those shouting analysts almost always wrong....if we can follow them and be rich, why so little millionaires since so many people reading newspaper?? so I almost will ask people to do the opposite of what the newspapers and crowd say.

4) Will there be slowing down....sure not as fast as before, but no problem as I am taking a longer term view. Malaysia takes time to develop, so the lock in period is actually good excuse for me to wait... This is also why I only visit the site 2-3 times, coz no hurry mah....

5) Singapore population 5mil, 1.5mil PR.......If the transportation and other systems improve, many many Sporean/PR would want to move to JB, leave the expensive landed and luxury condo to the rich foreign buyers to play....we welcome them still. And the rich actually starts to buy...Singapore prices will U turn soon.

6) JB 30mil ....just need 5% of them improve their life and we have another 1.5Mil potential upgraders.....and these new upgraders usually will look for Lifestyle improvement...just like Singapore last time..5Cs...condo, clubhouse, and imagining sipping cold drinks next to swimming pools will make them snap up good looking condos.

7) Then the location, even if the market really grow slower, still need to grow from the edges out.....so if you have a central location like Medini, and a great location like central of Medini and next to Kota Iskandar, next to Puteri Harbour....then I am really no worry...that's why I am happy that IR is surprisingly close to these 2 key points.....I heard Kota will employ 10000 government officials when fully operations?? nvm, 5000 also can...

8) Please don't hantam me, I am a big picture person and super positive , ...so some of the facts and figures may not be very accurate....Only my view, hehe

With these kinds of reasoning on why he invested in Iskandar, I say good luck to him. I think he even bought a few condos in Medini!

It's no different from the uneducated Ah Pek in the coffee shop telling his friends why they should buy 4D or invest in stock ABC because he has this "strong feeling" he will HUAT! This is STUPID risk to take. Sorry for being rude. I can't find a better word to describe.

All your reasoning is valid and cause for concern.
However, there is one big difference. All your arguements are targetted towards tenants and rentals.

Buying for own stay and buying for investment to be rented is totally different. So different people have different views. To you is stupid to invest, to others is valid to buy. Objectives are different.

 

[freedom]

All your reasoning is valid and cause for concern.
However, there is one big difference. All your arguements are targetted towards tenants and rentals.

Buying for own stay and buying for investment to be rented is totally different. So different people have different views. To you is stupid to invest, to others is valid to buy. Objectives are different.

Precisely....many people like me buy for retirement and a way to monetise our Sg properties which to me is still a great idea as it is useless to have your Sg property value go very high without being able to unlock the value and it is pointless to sell only to have to buy another overpriced Sg property so the only way is to buy in JB cause of the proximity to Sg if we still want to be near home...and buying one enables me and I believe many others to retire early too by renting out Sg properties or selling them...

 

[xebay11]

You have so far been firm in your stand on why you choose to live in Iskandar. I feel your reasoning is sound.

But there are many others here whose reasoning is very shaky and are in delusion. For eg, they think there will be a hospital coming up, some schools, so no worries! I can surely rent out my condo.

Hello? Have you checked how many condos will be built? There will be thousands being released just in the next 2 years. And possible a few hundred thousands more within the next 10 years. How many amenities will there be for your tenants to come from?

Next, what is the rental like? Can it even cover your bank loan? What if you don't have tenant in the next 7-10 years? Have you calculated your losses every month? Did you see how those who paid for their condos 2 years ago have already lost a hefty 20% due to RM currency? It can happen to you too. The scariest part: What if you can't even sell your condo next time, which is very likely? You will lose a few hundred thousand S$!

The wrong move they have is they think Iskandar is like Singapore. Even Singapore with more than 5.4 million population, a safe and attractive business country, and new property developments much fewer than Iskandar, the SG government and developers are worried now. They are not sure how to sell the vacant units. Landlords are complaining rents are going down even though they can find tenants.

Iskandar with so little development in the next 10-15 years, but with more than 300k new properties coming up, how??? It's going to be a landlord's nail in the coffin. You think give another 20 years, Iskandar can even come close to what you see in Singapore? Dream on. I'm not saying it won't move. But for it to expand economically and be a bustling city, we are possibly looking like more than 50 years? Msia government is nowhere as strong as SG's btw. Your condo will by then already rot and... we won't even be around any more!

Some say I bought in Puteri Harbour, so nice view condo, sure got tenants one. Huh?? You sure? There are units sold near to SG where you can "swim with the dolphins" and right out of your window, you can see the sea. It cost above S$400k. The view is so much better than your Puteri Harbour. You dare to buy? Having a good view is not a guaranteed investment.

I came across this ridiculous post:

http://sammyboy.com/showthread.php?160905-Iskandar-Residences-Medini/page17

This is what a forummer "comfy" said:

1) first of all, I am vested heavily - so view may be biased haha.......

2) I truly positive about Iskandar and Malaysia as whole - in a long run. If anyone offer me a country to own, I will pick Malaysia over many SEA countries....Full of natural resources, oil and even gold belts.....how to harvest? that is another story.

3) Newspaper reporting and those shouting analysts almost always wrong....if we can follow them and be rich, why so little millionaires since so many people reading newspaper?? so I almost will ask people to do the opposite of what the newspapers and crowd say.

4) Will there be slowing down....sure not as fast as before, but no problem as I am taking a longer term view. Malaysia takes time to develop, so the lock in period is actually good excuse for me to wait... This is also why I only visit the site 2-3 times, coz no hurry mah....

5) Singapore population 5mil, 1.5mil PR.......If the transportation and other systems improve, many many Sporean/PR would want to move to JB, leave the expensive landed and luxury condo to the rich foreign buyers to play....we welcome them still. And the rich actually starts to buy...Singapore prices will U turn soon.

6) JB 30mil ....just need 5% of them improve their life and we have another 1.5Mil potential upgraders.....and these new upgraders usually will look for Lifestyle improvement...just like Singapore last time..5Cs...condo, clubhouse, and imagining sipping cold drinks next to swimming pools will make them snap up good looking condos.

7) Then the location, even if the market really grow slower, still need to grow from the edges out.....so if you have a central location like Medini, and a great location like central of Medini and next to Kota Iskandar, next to Puteri Harbour....then I am really no worry...that's why I am happy that IR is surprisingly close to these 2 key points.....I heard Kota will employ 10000 government officials when fully operations?? nvm, 5000 also can...

8) Please don't hantam me, I am a big picture person and super positive , ...so some of the facts and figures may not be very accurate....Only my view, hehe

With these kinds of reasoning on why he invested in Iskandar, I say good luck to him. I think he even bought a few condos in Medini!

It's no different from the uneducated Ah Pek in the coffee shop telling his friends why they should buy 4D or invest in stock ABC because he has this "strong feeling" he will HUAT! This is STUPID risk to take. Sorry for being rude. I can't find a better word to describe.

I agree with your views completely and just reinforced my decisions and am super positive to rent, as JB is going to be a wonderful place, sea views yachting marina life, open spaces and a heaven where tenants will be subsidized by owners and enjoy all the good life and savings compared to Singapore.

 

[xebay11]

Precisely....many people like me buy for retirement and a way to monetise our Sg properties which to me is still a great idea as it is useless to have your Sg property value go very high without being able to unlock the value and it is pointless to sell only to have to buy another overpriced Sg property so the only way is to buy in JB cause of the proximity to Sg if we still want to be near home...and buying one enables me and I believe many others to retire early too by renting out Sg properties or selling them...

I hear many of your retirement stories but are you Singapore properties fully paid? As I understand your husband does not really have a steady job. If your property in SG not fully paid, how do you intend to monetize the rental collection? As whatever rents you receive a portion will go to your loan repayment. Unless you sell your SG property which is a huge decision to make.

 

[freedom]

I hear many of your retirement stories but are you Singapore properties fully paid? As I understand your husband does not really have a steady job. If your property in SG not fully paid, how do you intend to monetize the rental collection? As whatever rents you receive a portion will go to your loan repayment. Unless you sell your SG property which is a huge decision to make.

We will probably sell our Sg property when the time comes when we want to fully retire, in the meantime, if we semiretire, we can still rent them out...we will still get good positive passive rental income...

 

[xebay11]

We will probably sell our Sg property when the time comes when we want to fully retire, in the meantime, if we semiretire, we can still rent them out...we will still get good positive passive rental income...

All the best!

 

[freedom]

All the best!

Thanks, but what is holding as us back now is primarily the kids education as we want to spare them the commute back to Sg...though unsure how efficient using the Tebrau shuttle might be...

 

[xebay11]

Thanks, but what is holding as us back now is primarily the kids education as we want to spare them the commute back to Sg...though unsure how efficient using the Tebrau shuttle might be...

Yes do consider carefully, not only schooling, this commuting may even affect their working life, I suggest you keep the house or get a HDB and rent out room (S) and they can stay in SG. I bought a HDB just for this purpose.

 

[freedom]

Yes do consider carefully, not only schooling, this commuting may even affect their working life, I suggest you keep the house or get a HDB and rent out room (S) and they can stay in SG. I bought a HDB just for this purpose.

How did you buy a HDB when you own private property?

 

[xebay11]

How did you buy a HDB when you own private property?

Company assets.

 

[Frodo]

You have so far been firm in your stand on why you choose to live in Iskandar. I feel your reasoning is sound.

But there are many others here whose reasoning is very shaky and are in delusion. For eg, they think there will be a hospital coming up, some schools, so no worries! I can surely rent out my condo.

Hello? Have you checked how many condos will be built? There will be thousands being released just in the next 2 years. And possible a few hundred thousands more within the next 10 years. How many amenities will there be for your tenants to come from?

Thanks for your affirmation about my reasons for buying, moving and staying in JB.:p

Yup, the thought of investment never crossed our minds when we decided on the big move and bought our landed property. It was pretty much economics at work, plus it was feasible and do-able.

Almost a year later we did make the decision to invest. This time it is in a condo unit, but not the mega-mass units like Country Gardens. We simply tried our luck that if the bank loan worked out we are in, if not, we won't sweat it either. In a sense this condo is also for own use as we would very much like to keep it, though if (and possibly a big if) the price is good we also can let it go. :p And I think that's all we can do in Iskandar within our meagre means. And we are contented with that; a HDB back home that is being rented out, a landed in JB to live in, and an upcoming condo in JB that we can enjoy the facilities, have guests stay over, and there is possibly the option to let developer help rent it out for us.

For us it is being able to do in JB what would be completely impossible in Singapore, given our circumstances and limited means, to be able to own properties besides the HDB we already have, and getting to enjoy them now.

 

[Frodo]

I hear many of your retirement stories but are you Singapore properties fully paid? As I understand your husband does not really have a steady job. If your property in SG not fully paid, how do you intend to monetize the rental collection? As whatever rents you receive a portion will go to your loan repayment. Unless you sell your SG property which is a huge decision to make.

My HDB (monthly mortgage paid using monthly CPF contributions so no supplementary cash outlay every month) is going to be paid off in couple of years' time...yeah!!!!

 

[xebay11]

My HDB (monthly mortgage paid using monthly CPF contributions so no supplementary cash outlay every month) is going to be paid off in couple of years' time...yeah!!!!

Good for you.

 

[mpan12]

Just 2 examples of poor workmanship at a newly completed condo in Iskandar:

And be careful. This is something I've predicted and expected. Coincidentally, just happened to a new condo in Iskandar also. Gated with security and main home door locked? No use. They can and will find ways to get in and steal! Nothing can stop those Msian thugs.

When there are many condos completed in 2017/18, with very few occupants inside, not hard to imagine this could happen more often. It's the thieves' and robbers' playgrounds.

 

[Bubble]

Thanks for your affirmation about my reasons for buying, moving and staying in JB.:p

Yup, the thought of investment never crossed our minds when we decided on the big move and bought our landed property. It was pretty much economics at work, plus it was feasible and do-able.

Almost a year later we did make the decision to invest. This time it is in a condo unit, but not the mega-mass units like Country Gardens. We simply tried our luck that if the bank loan worked out we are in, if not, we won't sweat it either. In a sense this condo is also for own use as we would very much like to keep it, though if (and possibly a big if) the price is good we also can let it go. :p And I think that's all we can do in Iskandar within our meagre means. And we are contented with that; a HDB back home that is being rented out, a landed in JB to live in, and an upcoming condo in JB that we can enjoy the facilities, have guests stay over, and there is possibly the option to let developer help rent it out for us.

For us it is being able to do in JB what would be completely impossible in Singapore, given our circumstances and limited means, to be able to own properties besides the HDB we already have, and getting to enjoy them now.

Hi Frodo

I like your thinking and the principles you live by and I do notice your story is consistent unlike some here.Their stories turn at every corner full of negativity and some do Make up stories.Oh we can tell after some time.

Good luck and all the best Fro

 

[Frodo]

Hi Frodo

I like your thinking and the principles you live by and I do notice your story is consistent unlike some here.Their stories turn at every corner full of negativity and some do Make up stories.Oh we can tell after some time.

Good luck and all the best Fro

Thanks for your well wishes!

Yup, just sharing my reasons for moving into JB which have nothing to do with investment or retirement, just needed a bigger home which we could not afford in Singapore.

 

[Tekkun]

Thanks for your well wishes!

Yup, just sharing my reasons for moving into JB which have nothing to do with investment or retirement, just needed a bigger home which we could not afford in Singapore.

You can start to apply for MM2H.

 

[xebay11]

Hi Frodo

I like your thinking and the principles you live by and I do notice your story is consistent unlike some here.Their stories turn at every corner full of negativity and some do Make up stories.Oh we can tell after some time.

Good luck and all the best Fro

Please do not always think the negativity is bad, we are trying to highlight to those who have not committed that although the property is cheap in JB, this is not really paradise, from my inbox PM I have had numerous PMs asking for advice from inexperienced investors / buyers. Even if buying for home stay, the interest rates on loans is very high and for those who took large loans please do your sums, the interest payment portion is almost equal to the principal repayment.

The positive side of all the negative posts is lessons learned from buyers who bought and the negativities they faced. I know many of you mock me and my father, but the truth is my parents have many friends who have bought properties all over Malaysia and the horror stories being fed back are like mpan12's earlier posts. I hope the buyers of properties in JB do allow negative accounts to be posted here and save newbies, not many of them belong to the truly wealthy club unlike many of you here, their money is what you owners call micro nano nano and probably not needed or wanted in Iskandar but still, to them it is their life savings and they cannot afford to just throw because of stories of high living and cheap deals. Please do consider these folks also and try to paint a more realistic picture of investing in Iskandar and not just presenting the good things, you are not doing anyone a favour except yourselves and that is very selfish. If you have not been robbed or your house being broken into or faced shoddy workmanship, pat yourselves on the back. But do let those who have faced such incidents also post in these forums as many many new buyers of properties have encountered such incidents and related them for the good of others.

Yes I am going on like a broken record but newbies and inexperienced, please do consider renting in Iskandar, it really is a better option if strapped for cash remember there is no CPF to help you to pay for your property, it is all about your earnings and staying power on your financial strength and renting is better, try to look behind the glossy facade of the nice condos and Marina living and fine dining here for what is impossible to get in Singapore due to high prices, as a tenant, you too can enjoy all these and is not exclusive to owners and investors, so just remember that. Also renting in Malaysia gives you easy for exit strategy in the event things turn bad and this is not an option for many owners and investors as the prices will fall due to the huge oversupply. So please take note and weigh the pros and cons.

Forums like these are for sharing, both good and bad and that should be the true spirit of property forums.

Peace out!

 

[Frodo]

You can start to apply for MM2H.

No money leh....and maybe also not really needed at this time since we go into Singapore as a family at least twice each month.

 

[mpan12]

Well done, xebay11. Your sharing has been one of the best to present the other side of the story.

People just find it so hard to accept the negative aspects about Iskandar. Everything in life has pros and cons. If you bought an Iskandar residential property simply by considering the pros and ignore most or all the cons, then that's just too bad.

Maybe all you buyers here are too rich. I don't know who you are. Maybe you've got millions of $$$ in cash stashed in your banks or at home. You've invested in all kinds of properties you can possibly think of. You now already own a few expensive cars. There's nothing else to buy now. Or your children are all grown up. You are all alone. Retirement's coming. So you buy an Iskandar condo not expecting anything in return. Well that's fine perhaps.

Unfortunately, many are not in this kind of fairy tale situation.

As xebay12 mentioned, there are many who want to learn about investment. If you guys are always talking about the +ve aspects of your Puteri Harbour or Medini, how are you going to cope when you have to deal with the negative blow in 2 years time?

For eg, I kept telling you guys, go do a calculation on how much you are losing when you can't find a tenant for more than 5 years, or how much you will lose to bank loans and depreciating RM currency. No one bothers to follow up with more discussions. Instead, you slam the negativity.

Have you done your calculations? Don't run away from it. Don't be lazy. It's just simple math. Do your sums and come back here to share with all of us how worrying the situation can be.

Do you have a backup plan? I doubt so. Because there is little you can do to mitigate the lack of tenants, lack of interested buyers and the huge oversupply of properties in Iskandar. I hope you do realize now you'll likely be losing a lot of money along the way.

Maybe many of you are now in Cloud 9 cos your properties are still being constructed and you don't want to think about it. Or you want to leave it to fate. But act while you can.

Personally, for me, if I realize I've made a bad investment, first thing I'd do is see if I can cut my losses.

If I have paid less than 20% of the property price, I would seriously consider dumping the Iskandar property. That's the advice I gave to my colleague when he asked me what he should do now. Cut it loose instead of letting it fester like a rotting wound that weakens your financial power.