Puteri Harbour Community

[FHBH12]

Tell this to those thousands of motorists struck in Tuas or Woodlands Checkpoints with fumes coming from all directions. The SG govt tried for many years.. including painting Johor Bahru as the Criminal Hub of Asia, and putting all their most useless and retarded civil servants to oversee checkpoints and make sure 3 hours jams are the norm.

And the SG govt failed miserably. Sporeans are flocking into Malaysia and spending like Kings. I was struck in the jam while returning to Singapore via Tuas @ 3am just now. Good thing is that jam lastly "only" 30 minutes

God Bless Singapore!

Traffic jam is costly in terms of time and health (at 12am - 6am the body is clocked to undergo self-repair), on top of wear and tear on the car. Unless you have plenty of time, a big spender or do not mind the impact to your health, the overall cost of going into JB to save some tangible money is pretty high.

The key idea of strict border checking is to restrict the flow if wealth into JB and flow of crimes into SG. I would say the strategy is working quite well.

 

[Investor888]

They would check passports and...cigarettes, fuel, etc...just to make sure taxes stay back in Spore. They would do just about everything to make sure their people are bordered in this borderless world. It is all about money and economy. Don't blame them.

The truth is that Singaporeans are now being squeezed till tak-boleh-tahan and many have little or no disposable income. You would have heard of chaps in debts while still zipping around in their continentals. This is the dire state that we are in now. The economy is dropping like mad. I encountered one custom chap who spent like 1-2 minutes just to check 1 miserable car at Tuas Checkpoint last week at 3am. Tell me, if this wont result in jams, then what will?

Hopeless Singapore

 

[Stimpy]

Dont think PH owners ( esp those who paid 30% down ) will struggle to pay instalements or rent out cheap. In this part of Nusajaya there is no such thing as inflated bank loan or zero downpayment etc. Those who purchased those type will see more lelong units ( esp Sunsuria Shoplots I heard from my friend who is earning RM 6000 a month buying a shoplot @ RM 1.8m with zero downpayment )

When TOP the instalment will be about RM 8000 a month. Expect some lelong spree. Sunway Iskandar also. These are developments where we see most local buyers who are earning ringgits and expecting to flip upon TOP.

Upon TOP they can fried themselves instead

I think you are right, though it is galling not to earn a return...it's not an investment if it doesn't pay its way.

 

[Investor888]

I think you are right, though it is galling not to earn a return...it's not an investment if it doesn't pay its way.

If they are buying up the RM 2 million shoplots ( 129year leasehold in Sunsunria mind you ) for their own business etc I can still understand that they need a shop to conduct their business. But buying because there is no need to pay downpayment and showing off to their peers that they "own" a shoplot is no different from jumping into the path of an incoming MRT train.

 

[Tekkun]

If they are buying up the RM 2 million shoplots ( 129year leasehold in Sunsunria mind you ) for their own business etc I can still understand that they need a shop to conduct their business. But buying because there is no need to pay downpayment and showing off to their peers that they "own" a shoplot is no different from jumping into the path of an incoming MRT train.

Commercial shoplots get only commercial loan package ie higher interests. Besides you can only rent out ground floors but upper floors not high in demand and command lousy rentals. RM2 million loan would be like paying RM16k per month. If purely for investment purposes, as long as rental can pay for a 70% loan, one should be alright. Anything loan higher than 70% is risky. Or it is just scary cat me here.

 

[Frodo]

Ringgit turns South again - looks like a miserable finish to the year for oil, so I'll take the chance to convert some SGD near Christmas. Maybe it gets weaker, maybe not, but 3.1 seems pretty good to me.

https://sg.finance.yahoo.com/news/ringgit-breaks-three-week-rally-034733505.html

Hoot lah!!!!

 

[sgcount]

Hi Sgcount,

I was at Nusajaya today and one of the more established agents gave me some info on what he has personally rented out.

- Mid floor 3 bedroom 2508 sft facing public marina and Kota Iskandar rented at RM 7000
- Low floor 3 bedroom 1828 sft no view (faces Traders rooftop) rented at RM 5000
- High floor 3 bedroom 2508 sft facing public and private marina under nego around RM 8000

His personal view was that tenants are coming albeit slow, just because Imperia is the first to TOP and there are no existing residents in Puteri Harbour.

Just for comparison sake, he mentioned that he has been able to rent out nearby Impiana units more easily as there is an existing community in East Ledang and also because Educity and Ascendas are nearby. The asking rents per psf is also lower. He has just rented out 3 units of 4 bedroom 2179 sft units at around RM 4000.

Hope that helps ........

Hey thanks for the info....

Wow, those are really huge units and the rental is only a bit by SG standard. Ok, a lot by JB's standard.

I project that 2-bedroom slightly less than 1000 sqft in Medini is probably going to fetch less than RM2000 next time, if there is even any tenant interested! Got to top up about RM1500 for the monthly mortgage.

 

[xebay11]

Hey thanks for the info....

Wow, those are really huge units and the rental is only a bit by SG standard. Ok, a lot by JB's standard.

I project that 2-bedroom slightly less than 1000 sqft in Medini is probably going to fetch less than RM2000 next time, if there is even any tenant interested! Got to top up about RM1500 for the monthly mortgage.

Last time all owners here say tenants subsidise owners. Now who has the last laugh?

 

[cow138]

Potentially rental will be further under pressure due to over supply and slowing economy.

 

[Stimpy]

Last time all owners here say tenants subsidise owners. Now who has the last laugh?

Well - he's talking about Medini, not Puteri. The latter will fetch a premium for being on the water and having the highest density of F&B plus groceries Etc. Of course, they do cost double what Medini's do.

I think puteri will be covered by rental IF it rents. Potential clients can afford to be super choosy on level and decor.

I have a place at medini, but I pretty much got it as a 'man cave' for me to put all the things I don't want my kids and pets to ruin and have as a spot for me to chill out in. If it all works out in 10 years, great, if not, it's a spot I can leave in Asia but any of my family can use as a jump off spot for malaysia, indonesia and singapore. I do realise I could have opted for self-storage and short-stay hotels, but that isn't what I wanted.

 

[Investor888]

Iskandar Economy has never slowed down. In fact, its growing as you and I speak

PSA volume has dropped. PTP has gone up. This speaks volume

Potentially rental will be further under pressure due to over supply and slowing economy.

 

[IskandarRocks]

Iskandar Economy has never slowed down. In fact, its growing as you and I speak

PSA volume has dropped. PTP has gone up. This speaks volume

Overseas Education struggles to keep foreign students as expats move to Iskandar

Enrolment is steadily dropping.

Overseas Education reported lower student enrolment numbers in the third quarter, with new registrations for the first nine months of the year coming in at 545 students compared to 695 a year ago. According to CIMB, the company is suffering because more expats are choosing to educate their kids in international schools across the Causeway. “Besides the subdued macroeconomic outlook, foreign system schools like OEL not only face competition within Singapore, but also from international schools across the Causeway such as Marlborough College and Excelsior International,” CIMB said. Some expats are choosing Malaysian schools because of cheaper school fees, more affordable cost of living and larger facilities. “We believe these will pose headwinds in the long term,” CIMB said.

http://sbr.com.sg/hr-education/more...nts-expats-move-iskandar#sthash.4yZplQUt.dpuf

 

[sgcount]

One thing I find repeatedly occurring is that, there is mismatch between the positive things being said about Iskandar and its oversupply of properties. Meaning, Iskandar growing does not imply its properties will appreciate in value, or that rental will be easy to come by. But that is the picture some Malaysian developers and agents try to paint.

Some even went on the say that Singapore is getting more and more expensive to do business in, so Iskandar is an attractive answer to the problem. But so far, does anyone have any examples of Singapore companies relocating to Iskandar because of the cheaper costs there? The last I was told, this is not as attractive as it seems. There is the transport issue (long jams) and lack of suitable manpower. These companies cannot bring their own Singaporean staff there and pay them in RM. So they are back to square one and stick their base in Singapore.

Same goes to Gleneagles Medini. Even with the ability to use Medisave, so far there isn't much news about Singaporeans moving over there to seek medical treatment. Transport issue is definitely one of the reason. Familiarity of environment and expectation of doctor's expertise are probably the other 2 factors that many would rather pay more in Singapore.

 

[Tekkun]

Overseas Education struggles to keep foreign students as expats move to Iskandar

Enrolment is steadily dropping.

Overseas Education reported lower student enrolment numbers in the third quarter, with new registrations for the first nine months of the year coming in at 545 students compared to 695 a year ago. According to CIMB, the company is suffering because more expats are choosing to educate their kids in international schools across the Causeway. “Besides the subdued macroeconomic outlook, foreign system schools like OEL not only face competition within Singapore, but also from international schools across the Causeway such as Marlborough College and Excelsior International,” CIMB said. Some expats are choosing Malaysian schools because of cheaper school fees, more affordable cost of living and larger facilities. “We believe these will pose headwinds in the long term,” CIMB said.

http://sbr.com.sg/hr-education/more...nts-expats-move-iskandar#sthash.4yZplQUt.dpuf

And the malls are coming...

http://www.theedgeproperty.com.my/content/iskandar’s-emerging-mall-landscape

 

[sgcount]

Well - he's talking about Medini, not Puteri. The latter will fetch a premium for being on the water and having the highest density of F&B plus groceries Etc. Of course, they do cost double what Medini's do.

I think puteri will be covered by rental IF it rents. Potential clients can afford to be super choosy on level and decor.

I have a place at medini, but I pretty much got it as a 'man cave' for me to put all the things I don't want my kids and pets to ruin and have as a spot for me to chill out in. If it all works out in 10 years, great, if not, it's a spot I can leave in Asia but any of my family can use as a jump off spot for malaysia, indonesia and singapore. I do realise I could have opted for self-storage and short-stay hotels, but that isn't what I wanted.

2 words: Damn Rich!

Did you pay your Medini home with cash or bank loan? If I can guess... it's full cash?

 

[Tekkun]

2 words: Damn Rich!

Did you pay your Medini home with cash or bank loan? If I can guess... it's full cash?

Sgcount, Medini is not so pessimistic.
At least it is not total loss, worst case scenario, it is subsidy. You still own it at the end of the day.

 

[potter]

2 words: Damn Rich!

Did you pay your Medini home with cash or bank loan? If I can guess... it's full cash?

Sometimes, see your essays v chaim liddat. Today, shall give some tips on encouragement ~a, about new launch at Med is 8++psf after discounts. Dun say i say one..:p

 

[xebay11]

Sometimes, see your essays v chaim liddat. Today, shall give some tips on encouragement ~a, about new launch at Med is 8++psf after discounts. Dun say i say one..:p

What's the take up rate?

 

[potter]

What's the take up rate?

Not yet launch, keipo and for free makan.:p

 

[sgcount]

Sometimes, see your essays v chaim liddat. Today, shall give some tips on encouragement ~a, about new launch at Med is 8++psf after discounts. Dun say i say one..:p

HA.. thanks for your patience in reading. Yah I know jialat... Sleepless nights sometimes. Thanks but I would be staying away from any more Med.