Property News

[shctaw]

A sucker born every minute. (with 7 billion human infesting earth)

When price go up to avg RM1500, I told myself I bought enough and it is time to look elsewhere.

With the high land price current developers buy; they can hardly sell below RM1k now.
No worry; life goes on.

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

 

[sgcount]

Actually they told only the half story. As usual, using stats to twist n turn. Of the 330K, only 142K has been approved while the rest are still pending approval . Of the 142K, NOT all are built ! In fact developers are holding back !

Also, they say IM condos are more than SG, but conveniently omit the fact that more than 70% of Sg are HDB . Total housing is 1.2m if u include HDB. So IM units are still lesser than SG units in totality !

Good point though I'm not sure of the actual details.

Statistics and figures can be easily misquoted but I think there is truth to the oversupply.

I somehow think there is a bigger personal agenda regarding why there is so much emphasis on this by the SG government. Just imagine, Temasek has a big stake in Iskandar. Our billionaire Peter Lim has also pumped in money there. Why would Iskandar be bad in the long term?

I suspect the SG government is just afraid Singaporeans become over-commited, all rush in blindly to buy and lose money. SG government never believes they should take care of their citizens. So if we are in trouble financially, it will implicate them also.

Having said that, I have slowly also begun to realise many don't have that much confidence in the Msia government and that's why the outlook on Iskandar now is very poor. Even the HSR sounds like an impossible dream to achieve. If Iskandar is part of Singapore and wholly controlled by PAP, I tell you it's almost a no-brainer boom town where you can put your last dollar on!

I can't imagine Singapore in 20 years' time, where most of our children (and for some of you, grandchildren) will be adults and get married. What kind of housing in SG do you think they will live in and how much will they cost?

In a short span of time, PAP has already caused small HDB flats to shoot up to easily half a million and now many more bigger flats are hitting the $900k or more limit. Good for sellers. They say HUAT AH! Cos they make money. But have they considered the commoners' kids who need to buy flats of their own? 20 years' time, in land scarce SG, maybe 3-room flat will sell for $800k? Possible I think. By then, that's when Iskandar properties may be more attractive.

But for the next 5 years or more, I think many Iskandar properties will be very jialat in terms of resale value or for investment. Worst case, leave it to your children/grandchildren. Some may think about working in SG and living in Iskandar. But the hassle of traffic and toll to pay to come in and out... Don't think it's worth it for many. To retire there, maybe it's a much better idea.

Personally, if I can let go of mine now, I will! But the loss is not worth it. Bought liao so just see how it goes.

 

[PuteriWorld]

Malaysia is 500 x bigger than Singapore.

Iskandar is 3x bigger than Singapore

Nusajaya is 0.5 times as big as Singapore

Those coastline and land nearest to Singapore is 0.1 time as big as Singapore ( 10% )
Its obvious where we should buy. Water finds it own level

I am surprised the govt is now "looking into the high cost of price in Malaysian properties purchased by sporeans"

Don't they know that in the first place, Singapore houses are supremely and grossly overpriced and over-crowded and that is the reason WHY précising many Singaporeans snap up properties oversea?

Arent they shooting their own foot now?

Talk about "Scholars"

 

[PuteriWorld]

But for the next 5 years or more, I think many Iskandar properties will be very jialat in terms of resale value or for investment. Worst case, leave it to your children/grandchildren. Some may think about working in SG and living in Iskandar. But the hassle of traffic and toll to pay to come in and out... Don't think it's worth it for many. To retire there, maybe it's a much better idea. ""

Friend, don't always think that Singapore is always advanced and Malaysia and others ( esp China ) are always deteriorating. S$1 vs RM 2.70 is only temporary.

I wont be surprised if my son hit 30 one day and he needs to ride a Spore bike into Iskandar daily to work together with his peers who are the sons and daughters of Pinoys, Burmese, PRCs etc etc who have acquired citizenship.

At this rate Singapore is degenerating, the reality is getting nearer and nearer. No one here harps about #1 in airport and port anymore, unless in the past. Its a fact that Singapore has lost ground.



Personally, if I can let go of mine now, I will! But the loss is not worth it. Bought liao so just see how it goes.[/QUOTE]

 

[potter]

Malaysia is 500 x bigger than Singapore.

Iskandar is 3x bigger than Singapore

Nusajaya is 0.5 times as big as Singapore

Those coastline and land nearest to Singapore is 0.1 time as big as Singapore ( 10% )
Its obvious where we should buy. Water finds it own level

I am surprised the govt is now "looking into the high cost of price in Malaysian properties purchased by sporeans"

Don't they know that in the first place, Singapore houses are supremely and grossly overpriced and over-crowded and that is the reason WHY précising many Singaporeans snap up properties oversea?

Arent they shooting their own foot now?

Talk about "Scholars"

Once they zoned the area, the playing field will become smaller. Sit tight..

 

[FHBH12]

But for the next 5 years or more, I think many Iskandar properties will be very jialat in terms of resale value or for investment. Worst case, leave it to your children/grandchildren. Some may think about working in SG and living in Iskandar. But the hassle of traffic and toll to pay to come in and out... Don't think it's worth it for many. To retire there, maybe it's a much better idea. ""

Friend, don't always think that Singapore is always advanced and Malaysia and others ( esp China ) are always deteriorating. S$1 vs RM 2.70 is only temporary.

I wont be surprised if my son hit 30 one day and he needs to ride a Spore bike into Iskandar daily to work together with his peers who are the sons and daughters of Pinoys, Burmese, PRCs etc etc who have acquired citizenship.

At this rate Singapore is degenerating, the reality is getting nearer and nearer. No one here harps about #1 in airport and port anymore, unless in the past. Its a fact that Singapore has lost ground.



Personally, if I can let go of mine now, I will! But the loss is not worth it. Bought liao so just see how it goes.

Malaysia overtakes Singapore in next 20 years - > Very difficult. China officials came to Singapore via MFA programmes to study our governance for 20+ years and incorporated parts into their system. Malaysia is still playing bumi first policies (just look at the discounted property prices for bumi units).

 

[sgcount]

Malaysia is 500 x bigger than Singapore.

Iskandar is 3x bigger than Singapore

Nusajaya is 0.5 times as big as Singapore

Those coastline and land nearest to Singapore is 0.1 time as big as Singapore ( 10% )
Its obvious where we should buy. Water finds it own level

I am surprised the govt is now "looking into the high cost of price in Malaysian properties purchased by sporeans"

Don't they know that in the first place, Singapore houses are supremely and grossly overpriced and over-crowded and that is the reason WHY précising many Singaporeans snap up properties oversea?

Arent they shooting their own foot now?

Talk about "Scholars"

I'm sure the SG govt knows the high prices of properties here. But doubt they care as many upper middle class and the rich can still afford them.

What I think they are afraid is those Singaporeans who rushed into Iskandar to buy properties in the hope of investment. These people will realize now or soo it's a bleak future for many years. If they can't get rental or sales and they can no longer pay their loans/debts, it could likely end up a social issue in Singapore.

 

[James Porn]

But for the next 5 years or more, I think many Iskandar properties will be very jialat in terms of resale value or for investment. Worst case, leave it to your children/grandchildren. Some may think about working in SG and living in Iskandar. But the hassle of traffic and toll to pay to come in and out... Don't think it's worth it for many. To retire there, maybe it's a much better idea. ""

Friend, don't always think that Singapore is always advanced and Malaysia and others ( esp China ) are always deteriorating. S$1 vs RM 2.70 is only temporary.

I wont be surprised if my son hit 30 one day and he needs to ride a Spore bike into Iskandar daily to work together with his peers who are the sons and daughters of Pinoys, Burmese, PRCs etc etc who have acquired citizenship.

At this rate Singapore is degenerating, the reality is getting nearer and nearer. No one here harps about #1 in airport and port anymore, unless in the past. Its a fact that Singapore has lost ground.



Personally, if I can let go of mine now, I will! But the loss is not worth it. Bought liao so just see how it goes.

Friend, I agree. SGD 1 vs RM 2.70 is only temporary. Eventually it will go to 3.00

 

[sgcount]

But for the next 5 years or more, I think many Iskandar properties will be very jialat in terms of resale value or for investment. Worst case, leave it to your children/grandchildren. Some may think about working in SG and living in Iskandar. But the hassle of traffic and toll to pay to come in and out... Don't think it's worth it for many. To retire there, maybe it's a much better idea. ""

Friend, don't always think that Singapore is always advanced and Malaysia and others ( esp China ) are always deteriorating. S$1 vs RM 2.70 is only temporary.

I wont be surprised if my son hit 30 one day and he needs to ride a Spore bike into Iskandar daily to work together with his peers who are the sons and daughters of Pinoys, Burmese, PRCs etc etc who have acquired citizenship.

At this rate Singapore is degenerating, the reality is getting nearer and nearer. No one here harps about #1 in airport and port anymore, unless in the past. Its a fact that Singapore has lost ground.



Personally, if I can let go of mine now, I will! But the loss is not worth it. Bought liao so just see how it goes.

[/QUOTE]

The degenerating part about PAP is perhaps true with respect to their perspective of how commoners are living in Singapore. Economy wise, SG is very stable and strong.

I cant see much reason why one would work in Iskandar and live in SG! More like the other way round. And unless one is not good enough to find jobs in SG.

As for the exchange rate, historically, RM has continued to weaken over many years. Can't think of a reason again it will strengthen drastically.

 

[PuteriWorld]

Of course it will go to RM 3.00. I am waiting. Cos it has to hit the bottom first. At this rate Singapore is throwing away our IC to FT, 70% who celebrate NDP wont be local born in 50 years time.

Friend, I agree. SGD 1 vs RM 2.70 is only temporary. Eventually it will go to 3.00

 

[Funniman]

Of course it will go to RM 3.00. I am waiting. Cos it has to hit the bottom first. At this rate Singapore is throwing away our IC to FT, 70% who celebrate NDP wont be local born in 50 years time.

Many of my Singapore friends already said..See you at 3.00

 

[snowbird]

I can imagine the predicament many local developers are facing, especially the midsize and smaller ones.
With property glut an imminent scenario and some of them are still have much stocks to clear, many should be wondering to continue building or just stop for a period of time.
Worse, many are still stuck with many RM500K - RM1m. units, that were launched after the RM1.0m regulation kicked in, which not many locals will buy.
Its really a catch-22 situation for them.
To stop building means no work for many people and bad for the company's economic growth.
To build means to compete head-on with all the foreign big boys with deep pockets for the same market share.
To survive, I think perhaps they may have to go back to basic to provide housing for the locals building units selling below RM500K.

 

[cow138]

To do business in Malaysia with the govt lack of direction and frequent u turn is really challenging.
Those who can navigate through this mess must really salute.

 

[sgcount]

To do business in Malaysia with the govt lack of direction and frequent u turn is really challenging.
Those who can navigate through this mess must really salute.

One of the reasons why many shun Iskandar properties totally. My colleagues never once wanted to consider buying anything from Iskandar as they predicted there would be problems. And true enough, within 1-2 short years.

No offence to anyone but it's the way the Msian govt does things that makes people lose confidence in them. This serious oversupply of residential properties is due to a lack of proper planning by the authorities. The UMNO rep got even the cheek to say that Iskandar was never meant for residential investment! Steady... when they want money, they attract everyone to buy buy buy. Even developers got greedy. Now when a big bubble is about to burst, they say Who asked you to buy? Iskandar is for business, not residential. Ridiculous governance!

All the property agents and analysts I spoke to painted a very negative and bleak future for Iskandar, especially the high rise apartments. A few also said the value of properties will soon start to drop drastically as it's now not sustainable.

Where are all those agents who talked so much in the past about how Iskandar will have high rental yield, good investment opportunities etc etc.... All disappeared now! These people were just out to earn their commissions. Iskandar has never been safe purely for investment purpose.

 

[Manhattan]

The number of property launches will reduce drastically. Those forecasted to launch will scale back. Sit back and wait for the economic activity to pick up and the current property stock to be absorbed by the market.
Those who bought a property there and not overstretched, you should have chosen a location you like, so just enjoy it. Life is short anyway, we don't have many 10 years left to wait for all the stars to align.

 

[cow138]

Exactly. In Johor you better buy with your heart in a place that you like instead of buying with your head in the hope of making money

 

[cybermad]

Johore just announced a stop to ALL approvals for service apt !

 

[Manhattan]

Johore just announced a stop to ALL approvals for service apt !

Only 26 percent of the 4000 units launched in 2014 were sold. That's how bad it is! Thanks to the china developers.

 

[Funniman]

Johore just announced a stop to ALL approvals for service apt !

No point in stopping approvals. It is those which had been approved is giving problems. Normally the big fish get first hand info.

 

[Funniman]

Only 26 percent of the 4000 units launched in 2014 were sold. That's how bad it is! Thanks to the china developers.

in JB we have few type of buyers. One type is older ones who buy for retirement homes. Come what may, they won't be affected.
The other type is young ones who aspire to invest and hope to make good. These are the ones who will be hurt badly and left carrying the baby.
In the end, the condos will be completed. The project people will leave, the salesmen will disappear. The half empty condos will be lifeless. Banners will be hanging all over crying out for sales and rents. It's a repeat of so many projects in JB in the past. Sigh..