Puteri Harbour Community

[Dfiris]

Penthouse.....

Nice... think it is reasonable cos it is rare n exclusive..

 

[xebay11]

Nice... think it is reasonable cos it is rare n exclusive..

Among thousands of upcoming supply?

 

[xebay11]

Nice... think it is reasonable cos it is rare n exclusive..

Rare and exclusive? What have you been smoking? Puteri Harbor is isolated and inconvenient and only appeals to a few expats Ang Mo, that place will take years or maybe decades to be properly populated due to size of pigeon hole condominiums which Johoreans shun. Nusajaya is so huge and underpopulated and with no real growth in JB population and the RM1 million restrictions for foreigners all I can say is Good luck people! You have been scammed.

 

[xebay11]

Wat a Bozo...

Can't blame them, they rushed in without opening their eyes.

 

[Stimpy]

Can't blame them, they rushed in without opening their eyes.

I was over in PH on Saturday. I crossed the border from SG at 3pm on a motorbike: even at this time on a weekend, it was a nightmare to get over - all at the SG side. Had a nice beer at the Brussels cafe and reflected that I had it all wrong, all along. Iskandar is not an alternative in any shape or form for SG workers. It used to be possible a few years back, but not the Tuas link is now as bad as Woodlands. There is no political interest in making crossings faster, it seems - boat (one day)/rail (one day)/road all take a good 90 minutes.

I realised that Iskandar is not meant to be any kind of Hinterland to SG, but a straight-up alternative. The issue has been muddied by property agents for years. PH is and will be a tremendous place to live if you do not have to cross regularly into SG. Simple as that. By regularly, I mean more than once every two weeks. It's as much hassle to get to as KL, by plane, from Changi. If you can get a good paying job in PH/Isk, it's a great lifestyle. Cheap housing, a big country to explore and low population density. I'd move in a flash. Unfortunately, there aren't many (any?) $250k+ jobs there.

I think it will do well in the end, but it's a 10 year bet and there will be opportunities to come and snap up built properties in a few years (not off plan). Malaysia is a capricious place to put bets down in. Min prices go from 250, to 500 to 1m arbitrarily. A state that does well on attracting business suddenly 'surprises' international firms by changing the weekend (I mean, wtf)? The flames of race politics are still fanned. The government has not increased transparency/accountability in 50 years and the currency collapses 20%. MY has a lot going for it. It also has many issues - sadly, all of which are self-inflicted.

Anyway Xebay, I think investors here will be ok assuming minimal debt-load or gearing. You say people didn't 'open their eyes', that is a little condescending and self-congratulatory. They may yet make out like bandits. New gov, HSR, oil price resurgence and an acceleration of success in attracting Foreign Direct Investment could change everything overnight.

Turning back to SG....now that is a market that looks toppy. I would not want to be geared up with several properties there. Massively oversupplied relative to demand, rentals that will not cover mortgages for anything bought in the last three years and supply, supply, supply coming. PH may dip a little or flatline. SG falls are painful. Particularly to those who are just 'all in'. Anyone who diversified into PH - and further afield is just being practical.

 

[Frodo]

I was over in PH on Saturday. I crossed the border from SG at 3pm on a motorbike: even at this time on a weekend, it was a nightmare to get over - all at the SG side. Had a nice beer at the Brussels cafe and reflected that I had it all wrong, all along. Iskandar is not an alternative in any shape or form for SG workers. It used to be possible a few years back, but not the Tuas link is now as bad as Woodlands. There is no political interest in making crossings faster, it seems - boat (one day)/rail (one day)/road all take a good 90 minutes.

I realised that Iskandar is not meant to be any kind of Hinterland to SG, but a straight-up alternative. The issue has been muddied by property agents for years. PH is and will be a tremendous place to live if you do not have to cross regularly into SG. Simple as that. By regularly, I mean more than once every two weeks. It's as much hassle to get to as KL, by plane, from Changi. If you can get a good paying job in PH/Isk, it's a great lifestyle. Cheap housing, a big country to explore and low population density. I'd move in a flash. Unfortunately, there aren't many (any?) $250k+ jobs there.

I think it will do well in the end, but it's a 10 year bet and there will be opportunities to come and snap up built properties in a few years (not off plan). Malaysia is a capricious place to put bets down in. Min prices go from 250, to 500 to 1m arbitrarily. A state that does well on attracting business suddenly 'surprises' international firms by changing the weekend (I mean, wtf)? The flames of race politics are still fanned. The government has not increased transparency/accountability in 50 years and the currency collapses 20%. MY has a lot going for it. It also has many issues - sadly, all of which are self-inflicted.

Anyway Xebay, I think investors here will be ok assuming minimal debt-load or gearing. You say people didn't 'open their eyes', that is a little condescending and self-congratulatory. They may yet make out like bandits. New gov, HSR, oil price resurgence and an acceleration of success in attracting Foreign Direct Investment could change everything overnight.

Turning back to SG....now that is a market that looks toppy. I would not want to be geared up with several properties there. Massively oversupplied relative to demand, rentals that will not cover mortgages for anything bought in the last three years and supply, supply, supply coming. PH may dip a little or flatline. SG falls are painful. Particularly to those who are just 'all in'. Anyone who diversified into PH - and further afield is just being practical.

Been to PH about 4 times...think too luxury for me...not rich either, and also personally prefer to be closer to where I can find roti prata or zi char eating places easily and within close reach.

 

[Dfiris]

Among thousands of upcoming supply?

Wow, nice & beautiful weather today.. skies so clear..

 

[xebay11]

I was over in PH on Saturday. I crossed the border from SG at 3pm on a motorbike: even at this time on a weekend, it was a nightmare to get over - all at the SG side. Had a nice beer at the Brussels cafe and reflected that I had it all wrong, all along. Iskandar is not an alternative in any shape or form for SG workers. It used to be possible a few years back, but not the Tuas link is now as bad as Woodlands. There is no political interest in making crossings faster, it seems - boat (one day)/rail (one day)/road all take a good 90 minutes.

I realised that Iskandar is not meant to be any kind of Hinterland to SG, but a straight-up alternative. The issue has been muddied by property agents for years. PH is and will be a tremendous place to live if you do not have to cross regularly into SG. Simple as that. By regularly, I mean more than once every two weeks. It's as much hassle to get to as KL, by plane, from Changi. If you can get a good paying job in PH/Isk, it's a great lifestyle. Cheap housing, a big country to explore and low population density. I'd move in a flash. Unfortunately, there aren't many (any?) $250k+ jobs there.

I think it will do well in the end, but it's a 10 year bet and there will be opportunities to come and snap up built properties in a few years (not off plan). Malaysia is a capricious place to put bets down in. Min prices go from 250, to 500 to 1m arbitrarily. A state that does well on attracting business suddenly 'surprises' international firms by changing the weekend (I mean, wtf)? The flames of race politics are still fanned. The government has not increased transparency/accountability in 50 years and the currency collapses 20%. MY has a lot going for it. It also has many issues - sadly, all of which are self-inflicted.

Anyway Xebay, I think investors here will be ok assuming minimal debt-load or gearing. You say people didn't 'open their eyes', that is a little condescending and self-congratulatory. They may yet make out like bandits. New gov, HSR, oil price resurgence and an acceleration of success in attracting Foreign Direct Investment could change everything overnight.

Turning back to SG....now that is a market that looks toppy. I would not want to be geared up with several properties there. Massively oversupplied relative to demand, rentals that will not cover mortgages for anything bought in the last three years and supply, supply, supply coming. PH may dip a little or flatline. SG falls are painful. Particularly to those who are just 'all in'. Anyone who diversified into PH - and further afield is just being practical.

Yep I was there on Saturday too, went in Woodlands and came out from second link, traffic was bad even at 4 pm to Singapore. I may sound condescending but really people need to understand the property market. The area is vast and huge and many, many dwellings coming up, ten years time, many more newer and greater developments will be coming up, so rare and exclusive is hardly terms I would use.

When I was younger my dad did tell me that the state of Johor has space for 50 Singapores, he may have exaggerated but I got the idea and this has always stayed in my mind till this day. So it will take a hell lot of convincing me that any place in Johor is rare and exclusive, Johor is at the start of the growth phase but unfortunately not the population, so spaces will not be snapped up quickly enough and time. Many owners say that by renting, tenants are subsidizing the owner's mortgage, but looking at Puteri Harbor, I think it is the other way round, many owners will be subsidizing tenants to stay there.

 

[Tekkun]

Yep I was there on Saturday too, went in Woodlands and came out from second link, traffic was bad even at 4 pm to Singapore. I may sound condescending but really people need to understand the property market. The area is vast and huge and many, many dwellings coming up, ten years time, many more newer and greater developments will be coming up, so rare and exclusive is hardly terms I would use.

When I was younger my dad did tell me that the state of Johor has space for 50 Singapores, he may have exaggerated but I got the idea and this has always stayed in my mind till this day. So it will take a hell lot of convincing me that any place in Johor is rare and exclusive, Johor is at the start of the growth phase but unfortunately not the population, so spaces will not be snapped up quickly enough and time. Many owners say that by renting, tenants are subsidizing the owner's mortgage, but looking at Puteri Harbor, I think it is the other way round, many owners will be subsidizing tenants to stay there.

Owners subsidizing tenants to stay there?
Wow....you found the right place to rent your retirement home.

 

[Stimpy]

Owners subsidizing tenants to stay there?
Wow....you found the right place to rent your retirement home.

Have to say I do agree: the RM1m minimum pricing sticker has introduced an artificial 'floor' which is way too high. Result is that mortgages will be more expensive than rentals can support.

BUT - if you have cash to splash, a PH apartment will certainly be nice. The fittings will be good, security high, views nice and amenities pleasant. Surroundings getting better and better. It's a very affordable luxury. An investment it probably isn't, near term. As a nice luxury, it might be a pleasant passive play on Ringgit strengthening if you are entering the market now.

 

[xebay11]

Owners subsidizing tenants to stay there?
Wow....you found the right place to rent your retirement home.

Yep sure do and when the next best thing comes along, I will move along, so much choice out there and my retirement still some years away.

 

[Tekkun]

Have to say I do agree: the RM1m minimum pricing sticker has introduced an artificial 'floor' which is way too high. Result is that mortgages will be more expensive than rentals can support.

BUT - if you have cash to splash, a PH apartment will certainly be nice. The fittings will be good, security high, views nice and amenities pleasant. Surroundings getting better and better. It's a very affordable luxury. An investment it probably isn't, near term. As a nice luxury, it might be a pleasant passive play on Ringgit strengthening if you are entering the market now.

Agreed.
No one said that if you bought a PH condo, you must rent it out.
A true investor do not depend on rentals to make money.

 

[xebay11]

Owners subsidizing tenants to stay there?
Wow....you found the right place to rent your retirement home.

Of course what, owners have to worry about bank mortgage interest rates, battle with rising management fees, other owner's not paying, facilities breaking down, headache with market conditions, all these are costs too, add all up, tenant no need to worry about these and sleep soundly. Priceless!

 

[xebay11]

Agreed.
No one said that if you bought a PH condo, you must rent it out.
A true investor do not depend on rentals to make money.

Then what are you investing in if you don't worry about making money from rentals? I thought if owners for self stay then no need to consider these. Investors especially true ones is all about dollars and cents.

 

[Tekkun]

Then what are you investing in if you don't worry about making money from rentals? I thought if owners for self stay then no need to consider these. Investors especially true ones is all about dollars and cents.

Just take them as holiday homes. Maybe couple of days each time and few times per year.
Sometimes investing is not all about dollars and cents. There are other forces at play.

 

[Frodo]

Yep I was there on Saturday too, went in Woodlands and came out from second link, traffic was bad even at 4 pm to Singapore. I may sound condescending but really people need to understand the property market. The area is vast and huge and many, many dwellings coming up, ten years time, many more newer and greater developments will be coming up, so rare and exclusive is hardly terms I would use.

When I was younger my dad did tell me that the state of Johor has space for 50 Singapores, he may have exaggerated but I got the idea and this has always stayed in my mind till this day. So it will take a hell lot of convincing me that any place in Johor is rare and exclusive, Johor is at the start of the growth phase but unfortunately not the population, so spaces will not be snapped up quickly enough and time. Many owners say that by renting, tenants are subsidizing the owner's mortgage, but looking at Puteri Harbor, I think it is the other way round, many owners will be subsidizing tenants to stay there.

Matter of perspective, cup half empty or cup half full. From an owner's point of view it would be tenant subsidising part of the monthly mortgage payment.

 

[Frodo]

Just take them as holiday homes. Maybe couple of days each time and few times per year.
Sometimes investing is not all about dollars and cents. There are other forces at play.

That's how I would look at it, make use of the condo facilities which my landed property lacks...because getting a landed property with condo facilities would cost RM2m at least, I believe. And once in a while stay there to retreat from the kids, or invite friends and relatives to stay there when they are here on vacation.

 

[Dfiris]

Matter of perspective, cup half empty or cup half full. From an owner's point of view it would be tenant subsidising part of the monthly mortgage payment.

Thats how the market is formed, isnt it? if we all have the same thoughts.. whom then can we deal with? So I always respect others perspectives, not right or wrong.. different people got different stress thresholds.. some will jus snap cos its not their game

 

[cow138]

Have to say I do agree: the RM1m minimum pricing sticker has introduced an artificial 'floor' which is way too high. Result is that mortgages will be more expensive than rentals can support.

BUT - if you have cash to splash, a PH apartment will certainly be nice. The fittings will be good, security high, views nice and amenities pleasant. Surroundings getting better and better. It's a very affordable luxury. An investment it probably isn't, near term. As a nice luxury, it might be a pleasant passive play on Ringgit strengthening if you are entering the market now.

Wow appreciate your measured analysis.
Sounds extremely reasonable and considered.
Enjoyed reading your comments.

 

[Stimpy]

Wow appreciate your measured analysis.
Sounds extremely reasonable and considered.
Enjoyed reading your comments.

There is no right or wrong really, if you like something and it doesn't stretch your ability to repay - why not? This group's got interesting people in it, all with different views. Before joining, all I had were rabid views from 'pro Iskandar' (agents, dreamers) and 'anti Iskandar' people (their dad's had heard of people getting burnt in the past). Most in here are getting a property for their own reasons other than a short term play.

Lots seem to want somewhere to visit occasionally. That makes many shout 'why not rent' but there is a whole industry in Europe of holiday homes because some people just like to have their own spot. Nothing wrong with that. Quite often values rise over time faster than inflation.

For me, I think there is another global housing bust coming, to be honest. Valuation rises are synchronizing across the Developed world and have decoupled from both rents and peoples pay. A hosting ladder with no bottom rung...isn't a ladder. Interest rates will start to rise/another 'crisis' will happen again. When repayments get tough either from job losses or interest rises, household balance sheets get stressed..