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Puteri Harbour Community
- Thread starter Qube3
- Start date
This project is very challenging to the investors as well as to the developers.
Go in only with eyes very wide open.
Why did you say that ?
dunno if i am right or otherwise but opposite teega is another project called pinewoods residences. also just beside the roundabout and the parcel of land is just by the private marina. think this is a better buy since view of marina is unblocked whereas i tink for teega only some units will have a view. dunno who is the developer though.........
hi yes theres an article but u can only read it when u load use a normal desktop, iphones somehow cannot view the scribd document.
Sent brochure on Pinewood day after I bought in Teega. Agent said only a few units left in Pinewood with sea view. 1100 sqft 2 bd going for 1.4 mil. There are 2 buildings, best marina view is 5 star hotel, other closer to the roundabout is condo. Had not heard of Pinewood before, coincidental it comes up day after Teega public launch... nice layouts though and a hell of a lot more detail was given to me about the complex itself then I evee got from UEM on Teega even after my purchase...
1100sqft @ 1.4mil. thats inching towards RM1300 per sq ft! wohoooooooooooo
Project is already 60% booked. Most of the Marina facing units with balcony >RM1,7m (B7 unit)
Penthouse @ level 24 price: RM6.0m to RM 10.0m. That's the level of pricing you see here.
Maximum discount: 5% only, DIBS, fully furnished.
Foreigners (not Sporeans) came, they see, they like, they booked 80 units at 1 go. So developer no need to be aggressive in selling.....
This makes Encorp looked really cheap!!!!
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whoa penthouse @ 10mil??? how big is it?
Go to tiong nam properties Facebook. All the information there
The local income levels in Johor (ie. A Manager with a salary of RM6000, would be comfortable with Rm500k home at Rm250 - Rm400 psf, depending on location, with a monthly instalment of Rm2k monthly.) Thus this is the bench mark "safety net" that we all should take note off. The locals cannot sustain these sky high prices, its advisable for Singaporeans and the richer johorians to reconsider their purchases should any developer launch prices that are not in line with fundamentals. For those who insist on being suckers for high prices, do remember, we will be facing one of the greatest coming global crisis soon, and that's why may be wise to have a good standby buffer ? Rm600-Rm700 is already very expensive and please dont compare SG and MY, like u cant compare New Jersey and New York. In the end you are the one that set the price not the developer, developers more than willing to sell at Rm600 but if u insist to buy it at Rm1300 then no choice they will have to sell u at that price, and when the crash comes, those bought at Rm600 will still be ok, those bought at Rm1200 etc will then see their values at Rm600 too? So be the wise one ya...
Originally Posted by GilaPH
1100sqft @ 1.4mil. thats inching towards RM1300 per sq ft! wohoooooooooooo
Tiong Nam is not a premium developer like SP Setia (Bukit Indah) selling fr. Rm400psf Sunrise selling fr. Rm500psf, Mah Sing selling fr. RM500+ then they should not price themselves higher than these premium developers. The fair value for any first time developer (very high risk for buyers) should be at least 10-20% below the premium developer as a reward for the risk taken. 10% for first time developer with good KLSE stock listed parent company. 20% or more for never heard of ones. some Singaporeans are very naive, and some are like lamb to the slaughter, and some agents are also not advising their clients properly and not bargaining and updating the wrong info and less experience in managing their developers price expectations. Lucky MANY Singaporeans and Johorians are not naive and know the game very well, so if youre reading this, just ignore any development whose price that is not inline with the local fundamentals of income-home price ratios. Right now the right price should be from Rm250 (Lousy areas, old houses) to Rm600 (Best Location, fully furnish etc). Also dont forget to factor in the coming global crash, any price above that line price will adjust down to the safety nett price.
1100sqft @ 1.4mil. thats inching towards RM1300 per sq ft! wohoooooooooooo
Tiong Nam is not a premium developer like SP Setia (Bukit Indah) selling fr. Rm400psf Sunrise selling fr. Rm500psf, Mah Sing selling fr. RM500+ then they should not price themselves higher than these premium developers. The fair value for any first time developer (very high risk for buyers) should be at least 10-20% below the premium developer as a reward for the risk taken. 10% for first time developer with good KLSE stock listed parent company. 20% or more for never heard of ones. some Singaporeans are very naive, and some are like lamb to the slaughter, and some agents are also not advising their clients properly and not bargaining and updating the wrong info and less experience in managing their developers price expectations. Lucky MANY Singaporeans and Johorians are not naive and know the game very well, so if youre reading this, just ignore any development whose price that is not inline with the local fundamentals of income-home price ratios. Right now the right price should be from Rm250 (Lousy areas, old houses) to Rm600 (Best Location, fully furnish etc). Also dont forget to factor in the coming global crash, any price above that line price will adjust down to the safety nett price.
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I think the developers are definitely not targeting the locals. There are more than 300,000 Malaysians who are Singapore PRs who earns much more than the locals who would not even bat an eye at 600 psf. Not forgetting the thousands of Singaporeans who are thinking of retiring or living in iskander. I also understand many Malaysians from kl , and Penang snapping up these condos. I would not be surprised if 1000 psf will become the norm in a few years time. Look at Singapore . Who would have believed that places like bishan can command 1400 psf. With the strength of the s$ it is a no brained why j b properties are dirt cheap after conversion.
Yes, I do agree with that prices will go up to about Rm1000 in probably by 2018. By 2025 it may even be at Rm1800. Of course somewhere in between there will be a sharp correction years (drop of 10% -30% for about 2 years to the "safety net price". Of course we all know the "singapore/foreign factor" but the reason why we should use the local market as the "safety net price" level. Foreigners can benefit from local prices, and not be sold another price.this way everyone will benefit and not just the developer.
Alot of cheap money going around. Interest earned below 1% in spore. With that kind of scenario, it make sense to invest in properties/stock market. Properties will always appreciate. Just look at iskandar region or even at Taman Daya and Spore. Having said that, of course one get their numbers or sum right. And not all the investors are from Spore. Wait till sporean wake up, and start rushing into it, RM1000 is history, imo. 
if there is not enough local to support, it might turn out to be a ghost project. foreigner buy for investment but who is going to stay there?
maintainance is always the issue for malaysia condos, 1st year looks good, 2nd year looks ok, 3rd year onward.....hmmm...
low occupy rate+bad maintainance, I wouldn't put too high hope for it to reach 1.4K psf on a subsale market.
Alot of cheap money going around. Interest earned below 1% in spore. With that kind of scenario, it make sense to invest in properties/stock market. Properties will always appreciate. Just look at iskandar region or even at Taman Daya and Spore. Having said that, of course one get their numbers or sum right. And not all the investors are from Spore. Wait till sporean wake up, and start rushing into it, RM1000 is history, imo.
Lets not forget the Singapore govt is directly and indirectly involved in the development and marketing of iskander as its hinterland, as a place for Singapore companies in need of cheaper land and labour and as a place where retirees can live comfortably and cheaply. As you know retirees don't pay taxes hence they will be happy if they leave Singapore and free up resources. Many Singaporeans in their 40s knowing how expensive it is to retire in Singapore are already buying up properties in j b in preparation for the big R. So just counting Singaporeans alone no shortage of investors to push up prices way beyond 1000 psf.
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