Puteri Harbour Community

[Stimpy]

Interesting thoughts from everyone. I work in oil and ags, so agree with anyone who says Malaysian Ringgit weakness is not over. I didn't realise the MAS policy is to accomodate the MYR..I always thought it had a relative peg to the US$, with a basket of local currencies. If that is the case, in SE Asia, Malaysia remains the most vulnerable as it lacks the ooomph Indonesia has with population.

Anyway, this is a hard thing to call, just got my loan approved for the Southern Marina project and really wavering on committing. Undoubtedly Iskandar has oversupply...but this it the Puteri Harbour thread, not Medini or JB. It seems a good buy to me, for occasional homestay. In ten years (heck, in 4) this place must surely be the absolute pick. For anyone in JB, you would have thought this would be an aspirational place in contrast with Central or Danga Bay etc.

So - what do forumers think? Run, screaming for the hills, or a good buy at the right point (misery) of the cycle. Everyone always says, be greedy when people are fearful and I smell plenty of fear in the Iskandar property world....

Hi all, with the flame war going on about general Iskandar property, my question got buried!

I am really interested in people's thoughts....PH Southern Marina a good project, or overshadowed by the bearishness on Malaysian property?

Thanks

 

[Tekkun]

Well, any logical person looking at the thread will know who is the goondu misreading stats and looking only at interpreting them thru their myopic glasses

Shhhhh....if ppl want to be clever, let them be. If they think that's the way, that shall be the way.
Wat for give so much market info away?

 

[btravelling]

Best places to retire, of course this is by American Standards, Malaysia tops the list for Asia taking 4th overall http://internationalliving.com/2015/01/the-best-places-to-retire-2015/

 

[xebay11]

Well, any logical person looking at the thread will know who is the goondu misreading stats and looking only at interpreting them thru their myopic glasses

Yah the goondus who are the ones grabbing at every last straw trying to justify that the facts which are staring them straight in the face by twisting and turning that they are misread and misinterpreted. Look, if you really are so illiterate and clutching to straws by trying to define over supply as built and approved yet but not built, please spare us, there are intelligent people here who bother to drive around the new developments and study the market in property guru and would know that even with current built stocks there is huge oversupply with high unoccupancy, no need to see and define further about pipeline etc, banks are taking cautious stance and reacting accordingly and yet you bozos are just trying to dismiss them....I suggest you face it, accept it and deal with it....no need to keep calling names and split hairs, facts are facts! No matter which way you look at it.

 

[xebay11]

Shhhhh....if ppl want to be clever, let them be. If they think that's the way, that shall be the way.
Wat for give so much market info away?

No need to shh...save it for yourself lest people know how stupid you are. Market info ha ha ha ha ha. I am not interested!!!!!

 

[Tekkun]

No need to shh...save it for yourself lest people know how stupid you are.

Correct correct, I am a stupid man...so?

 

[xebay11]

Correct correct, I am a stupid man...so?

Good so now you admit, that is all I need to know, so I dun waste my time with them ha ha ha ha.

 

[Tekkun]

Good so now you admit, that is all I need to know, so I dun waste my time with them ha ha ha ha.

Clever boy.

 

[xebay11]

Clever boy.

Aya you also can be clever boy if you listen to me ha ha ha ha.

Singapore property market now crashing, huge oversupply, resale transaction volumes have crashed compared to last year, means many have off-loaded already. When is your turn to off load before things get worse? ha ha ha ha

 

[Stimpy]

Aya you also can be clever boy if you listen to me ha ha ha ha.

Singapore property market now crashing, huge oversupply, resale transaction volumes have crashed compared to last year, means many have off-loaded already. When is your turn to off load before things get worse? ha ha ha ha

I'm not sure that what is happening in the Singapore property market can be defined in any terms as a 'crash'. More an orderly re-pricing...last time I looked prices were down 4%? Sales volumes are shrivelled, rental prices down (got mine down 20%), but sales prices are doing nothing...I know as I am looking to pick up a bargain but no-one is willing to re-price at a lower level it seems.

 

[Dora21]

Teega in the mist, almost to the top, will be posting in the near future asking About what we need to do for decorating and finishing, 40th floor view towards the sea, can't waitView attachment 24296

Hi btravelling & teega buyers. U can see the seaview/private marina from facebook - teega puteri harbour. Mr Mohd Redzuan took the pic towards the sea .

 

[freekazoid]

Those who do not know what is Puteri Harbour is all about, it is better to shut up.
Make efforts to know the difference between PH and rest of JB.

Not the most elegant response, but is the most precise point and a valid challenge to xebay11.

I want to hear from your analytical mind why PH is a bad or good place to own a property...xebay11 over to you.

 

[Merlion]

Who are the silly ones? The ones who believe? or the one who chooses to blindly ignore?

Hi Xebay,
As this is the PH thread, pls go the the other threads ( perhPs property investment ) to give your invaluable advice to the newbies there. Thank you.

 

[Merlion]

We dun have to debate whether PH is good or bad place to stay. Just go there and feel for yourself. If you like it and has a good vibes then it's a good place. I feel that PH is a great place for retirement and leisure and needs another 4-5 years to be the most vibrant and exclusive place in Iskandar with hip shops and restaurants and well heeled crowds and residents.

 

[cybermad]

We dun have to debate whether PH is good or bad place to stay. Just go there and feel for yourself. If you like it and has a good vibes then it's a good place. I feel that PH is a great place for retirement and leisure and needs another 4-5 years to be the most vibrant and exclusive place in Iskandar with hip shops and restaurants and well heeled crowds and residents.

Yes, this is why so many international hotels are setting up shop at PH. They must have sunk huge sums to do their due diligence. We just follow along

 

[xebay11]

Yes, this is why so many international hotels are setting up shop at PH. They must have sunk huge sums to do their due diligence. We just follow along

Just to clarify only, I will not try to post anything out of PH matters but FYI, many international Hotel Chains are management contracts, kind of like a tenant in a retail mall, they can relocate if things do not pan out to be, they can assign or sell the lease to next operator lock-stock and barrel including the renovations and furnishings, so their exit costs are low, same like me, going in to Iskandar / PH as a tenant only. So you cannot just ride on their coat tails blindly. Also please do not take things at face value, you do not know how much money is being greased to the decision maker of the hotel chain by the developer to setup shop there........this is Malaysia.

"In Asia, many hotels operate under management contract arrangements, as they can more easily obtain economies of scale, a global reservation systems, brand recognition etc. It is not unusual for contracts to be signed for 30 years, and having a fee as high as 3.5% of total revenues and 6-10% of gross operating profit. Management contracts have been used to a wide extent in the airline industry, and when foreign government action restricts other entry methods. Management contracts are often formed where there is a lack of local skills to run a project. It is an alternative to foreign direct investment as it does not involve as high risk and can yield higher returns for the company. The first recorded management contract was initiated by Qantas and Duncan Upton in 1978.[1][not in citation given]"

Notice the point, they do this to avoid higher risks.

 

[deli1000]

I must say this quarrel is descending into very kiddish category with all this name calling (xebay sound like a 3 yrs old child who did not get his way and is just repeatedly shouting 'stoopid', sorry)

Anyway, the fact that xebay is interested to rent an apt/condo in PH should vindicate all the PH buyers. They/theirs is the 'renters' mentality who will be paying for the owner's mortgage

 

[btravelling]

Hi btravelling & teega buyers. U can see the seaview/private marina from facebook - teega puteri harbour. Mr Mohd Redzuan took the pic towards the sea .

I got my picture from SkyScapers .com a fantastic series on the progress of Teega and they seem to update it each month, hell of a view! and below my wing will be the sky restaurant separating the Commercial floors from the top 6 floors, I can see myself being a regular there, they see me coming and pour my beer and hand it to me on the way in the door.
http://www.skyscrapercity.com/showthread.php?p=125184122

 

[btravelling]

Hi all, with the flame war going on about general Iskandar property, my question got buried!

I am really interested in people's thoughts....PH Southern Marina a good project, or overshadowed by the bearishness on Malaysian property?

Thanks

It is a good project, it is priced well for this market, it is free hold property, on a marina, with ocean views, next to a major city, in a country ranked at the 4th best place for retirement in the world, and the top in Asia by an American group. Where is the world can you find all of these positive aspects? I lived in and chased the waterfront property market in Vancouver for years and it was always out of reach, when PH was being marketed I jumped. Throw in the benefits of MM2H and it even sweetens the deal. If you are in for living, or weekend home, or hold for retirement I think it is a rare find. I have bought in Teega or I would be in Southern Marina. People can say what they like, but waterfront living in an international enclave with 2 marinas international restaurants and hotels is a good investment for life and lifestyle.

 

[xebay11]

I must say this quarrel is descending into very kiddish category with all this name calling (xebay sound like a 3 yrs old child who did not get his way and is just repeatedly shouting 'stoopid', sorry)

Anyway, the fact that xebay is interested to rent an apt/condo in PH should vindicate all the PH buyers. They/theirs is the 'renters' mentality who will be paying for the owner's mortgage

No, let me illustrate my scenarios, assume if you have a spare $2.6m cash like I do, as I am planning to sell one of my fully paid landed properties in SG, I intend to buy another FH landed Australian property for $1m for my daughter to stay and so still have $1.6m, I will use the $1.6 m and buy another two $800k FH MM apts in town for rental purposes and get about $5k rental income pm at $2.5k each and spend about $800 to rent a JB condo, my net yield in this scenario is $5k less $800 = $4.2k,

Scenario 2, Out of $1.6m I can put aside $400k to buy a JB property and the remaining $1.2m I can only now buy one SG property, a two bedroom FH small condo. If I do that, I can only get about $3k to $3.5k rental income yield from the two bedder, as the JB property is for self stay. So do you see the yield difference?

Scenario one is safer and covered by PAP guaranteed appreciation / rental, as they want for 6.9 to 10m population fueled by foreigners vs JB unknown local population growth and very protectionist job market restricting foreigners, and also in SG I get more rental income $4.2k vs $3 to $3.5k, which would scenario would you do? Do not always just think about paying landlord's mortgage, as I thought of this scenario to eliminate this thinking.

Free discussion, pls ignore if anyone thinks this post is self serving and/or childish.