Puteri Harbour Community

[bakkuttay]

haha, some foreigners owning 1 or 2 properties in jb have a rich atas feeling and become expert property investor overnite.

 

[mpan12]

It's sad that many of the rich here have lost track of what is meant by cheap and expensive. This applies to the PAP government also. Given the extremely high prices of HDB flats, the ministers could still label public housing as "affordable". Of course, these overpaid idiots pay themselves millions every year. What do they know? They even explained the poor and elderly commonly seen pushing heavy carts of old cardboards are simply doing physical exercise.

Those who bought their resale flats a few years ago at the peak are now stuck in disappointment and frustration at not being able to move out without losing a lot of money. It's not that they are dumb to buy at such high prices a few years ago. But back in 2008-2013 especially, there were few or no new BTO flats released. People need places to live in. So they have little choice. Thanks to none other than the great mastermind of it all -- Lee Hsien Loong. He brought in so many new immigrants and gave them citizenship easily but the housing, healthcare and transport infrastructures were not properly put in place.

So despite property prices shooting up tremendously, the SG government still labels them as "affordable". Despite the severe lack of hospital beds across the country, they tell us "Please keep yourself healthy". Despite the frequent breakdowns of MRT trains recently, the bimbo minister Josephine Teo said this is normal as the trains are used by many commuters every day.

However, between SG and Iskandar/JB or Malaysia in general, I'd say SG does give one a much higher sense of safety and assurance. But it's becoming a playground for the rich. If you have the money, it's almost a no-brainer to invest in SG. Your wealth will grow eventually. But the commoners likely won't have that kind of money. So they have to take greater risks now and go to places like Iskandar or elsewhere.

You're 100% on point there - easy for people who have ridden an asset driven value boom in an expansionary 30 year SG period to scoff at such sums, but it shows how disconnected the generations are, particularly across Social strata.

And to be fair, no-one should be reminded of the need to take sensible precautions - ostentatious displays of wealth can see you relieved of portable value very quickly in London/New York/Paris/Rome/Sydney...basically anywhere in the civilized world.

I idiotically left my keys in a brand new 1000cc sports bike in a public car park overnight last week. There is nowhere else in the world that it would have still been there the next day but here...god bless sg.

 

[Frodo]

It's sad that many of the rich here have lost track of what is meant by cheap and expensive. This applies to the PAP government also. Given the extremely high prices of HDB flats, the ministers could still label public housing as "affordable". Of course, these overpaid idiots pay themselves millions every year. What do they know? They even explained the poor and elderly commonly seen pushing heavy carts of old cardboards are simply doing physical exercise.

Those who bought their resale flats a few years ago at the peak are now stuck in disappointment and frustration at not being able to move out without losing a lot of money. It's not that they are dumb to buy at such high prices a few years ago. But back in 2008-2013 especially, there were few or no new BTO flats released. People need places to live in. So they have little choice. Thanks to none other than the great mastermind of it all -- Lee Hsien Loong. He brought in so many new immigrants and gave them citizenship easily but the housing, healthcare and transport infrastructures were not properly put in place.

So despite property prices shooting up tremendously, the SG government still labels them as "affordable". Despite the severe lack of hospital beds across the country, they tell us "Please keep yourself healthy". Despite the frequent breakdowns of MRT trains recently, the bimbo minister Josephine Teo said this is normal as the trains are used by many commuters every day.

However, between SG and Iskandar/JB or Malaysia in general, I'd say SG does give one a much higher sense of safety and assurance. But it's becoming a playground for the rich. If you have the money, it's almost a no-brainer to invest in SG. Your wealth will grow eventually. But the commoners likely won't have that kind of money. So they have to take greater risks now and go to places like Iskandar or elsewhere.

Anything is affordable if we just pay through our bloodied nose! But this false sense of affordability comes at a price lor. Can I afford a jumbo flat with COV of $100K? Not with the little money in my bank alone, but can borrow from banks lor..may be can raise the money and tada the jumbo flat is "affordable" liao, but it means additional $500K in fresh SG loans for next 20 years or more. And renovation not even counted in.

 

[PuteriWorld]

To rich men, $300K or half a peanut is loose change to you. If one's take home pay is only $3K a month, it will be extremely challenging to even save $30K annually. $300K represents 10 year savings.

Indeed, I think 300k is peanut in the kidnapping world. It just isn't worth it. Loose change or not, 300k is simply little when one wants to try to kidnap for money. The penalty is life imprisonment

 

[Stimpy]

Indeed, I think 300k is peanut in the kidnapping world. It just isn't worth it. Loose change or not, 300k is simply little when one wants to try to kidnap for money. The penalty is life imprisonment

A financial scam or straight-up con is better as they largely go unreported by the wealthy....a small percentage loss for them is generally kept quiet as they can't stand the loss of face/being made to look stupid.

Kidnapping is a different matter.

 

[PuteriWorld]

That's why to get 300k thru kidnapping is really a stupid move

A financial scam or straight-up con is better as they largely go unreported by the wealthy....a small percentage loss for them is generally kept quiet as they can't stand the loss of face/being made to look stupid.

Kidnapping is a different matter.

 

[mpan12]

Haha...yup. To the SG government, affordable simply means you can achieve it no matter the cost.

So for a young couple to buy a $450,000 4-room flat, they have to take 30 bloody years loan. The government will then say: "See, it's possible! It's affordable!"

There used to be a joke that a commoner can also afford luxury cars. Just borrow money, and take 30-50 year loan.

Anything is affordable if we just pay through our bloodied nose! But this false sense of affordability comes at a price lor. Can I afford a jumbo flat with COV of $100K? Not with the little money in my bank alone, but can borrow from banks lor..may be can raise the money and tada the jumbo flat is "affordable" liao, but it means additional $500K in fresh SG loans for next 20 years or more. And renovation not even counted in.

 

[Investor888]

Before my 300k comments become a shooting target for some fellow peasants here, I have to reiterate that my comments is as follow" $300k is a not a lot of money IN THE KIDNAPPING ARENA"

Obviously this simple comment make people think too much and I don't think I should explain further but one learned man indeed pointed out correctly what I meant. $3 to me means a lot of course but there are many other tricks and deceptions one can conceive to deceive naïve Singaporeans ( Singaporeans are notorious for being very naïve thanks to the govt )of more than $1 million.

Gold Guarantee and its con man Lee Song Teck is one of them. He is now driving around KL in a Bentley Conti GT 6.0 & Lambo and don't have to work. As a SPR but Malaysian ( he stays with his mum in a corner landed in Hougang ) he don't even need to return to Singapore to assist in investigations. He has legally conned more than $10million of Singaporeans hard earned money but CAD scholars are no match for his wit. $300k for kidnapping and facing life imprisonment? One should think twice!

 

[eric3417]

In Fact, One should think Thrice!
Karma is a Bitch…

 

[Tekkun]

Sea Planes at PH Marina....

 

[Frodo]

Haha...yup. To the SG government, affordable simply means you can achieve it no matter the cost.

So for a young couple to buy a $450,000 4-room flat, they have to take 30 bloody years loan. The government will then say: "See, it's possible! It's affordable!"

There used to be a joke that a commoner can also afford luxury cars. Just borrow money, and take 30-50 year loan.

I also find it warped logic, if not hypocritical, that the govt set income limits for people to buy HDB flats, citing that it is for poorer folks while the prices of these flats are sky high. Just because a couple earn much money and can afford expensive houses means they should be deprived of buying "cheap" HDB flats? They can't have the choice to exercise financial prudence and live less ostentatiously?

 

[Frodo]

Sea Planes at PH Marina....

View attachment 25753

OMG! That is so "disgusting"! LOL!

 

[GilaPH]

Heard some of the bigger units at imperia have managed to get rentals upwards of 7k. Kinda good in this market but should target 10k at the very least....fully furnished

 

[Investor888]

Yes. Most are on company lease. RM7000-RM 10,000 are norm for companies VPs and directors ( expat ) My foreign expats have housing allowance of around RM6000-RM 10,000 but I heard they can request for 2-3k more if they are staying in posh neighbourhoods such as PH etc. Subject to management approval but as you know, THEY ARE THE MANAGEMENT. Unlikely can get RM 15-20K rental in this ailing market. RM 7000-RM10000 for a 3-4 bedder high floor with superb view is just right

I know for sure Pine studios and neighbouring SMEs or Hua wei etc are planning to uproot their directors and senior management to PH due to it being an exclusive enclave as I just had a chat with one of the little birds in Dine


fully furnished[/QUOTE]

 

[Stimpy]

Yes. Most are on company lease. RM7000-RM 10,000 are norm for companies VPs and directors ( expat ) My foreign expats have housing allowance of around RM6000-RM 10,000 but I heard they can request for 2-3k more if they are staying in posh neighbourhoods such as PH etc. Subject to management approval but as you know, THEY ARE THE MANAGEMENT. Unlikely can get RM 15-20K rental in this ailing market. RM 7000-RM10000 for a 3-4 bedder high floor with superb view is just right

I know for sure Pine studios and neighbouring SMEs or Hua wei etc are planning to uproot their directors and senior management to PH due to it being an exclusive enclave as I just had a chat with one of the little birds in Dine


fully furnished

[/QUOTE]

It's just right for the rental market for sure. For an owner who paid RM2m for the unit, their rent is going to be around RM8.2k per month, so it's not right for them. And that's the rent it's achieving in a pre-surge environment, before Teega and the rest come online.

For more recent developments coming in at price tags around 2.8m, with an 11.5k/month mortgage payment, leveraged investors will suffer. Looking forward to picking up some bargains. Did anyone hear what the recent Imperia auction property went for?

 

[sgcount]

Was that a rare unit that got rented out?

According to someone I know, the rental at Imperia is not doing well. He's trying to sell his aunt's unit but also hardly any enquiries. High floor, good view and 1,800+ sq ft, about S$690k. Not sure if it's considered expensive or not.

 

[Manhattan]

It's just right for the rental market for sure. For an owner who paid RM2m for the unit, their rent is going to be around RM8.2k per month, so it's not right for them. And that's the rent it's achieving in a pre-surge environment, before Teega and the rest come online.

For more recent developments coming in at price tags around 2.8m, with an 11.5k/month mortgage payment, leveraged investors will suffer. Looking forward to picking up some bargains. Did anyone hear what the recent Imperia auction property went for?[/QUOTE]

The 1627 sft unit is being auctioned at a asking price of rm1.3M. Is it lower than the cost price?

 

[Stimpy]

Was that a rare unit that got rented out?

According to someone I know, the rental at Imperia is not doing well. He's trying to sell his aunt's unit but also hardly any enquiries. High floor, good view and 1,800+ sq ft, about S$690k. Not sure if it's considered expensive or not.

Neither expensive nor cheap. The question for your aunt is: how would it stand out against all the other units being offered at the same price?

Now...does she move first to lower her price and potentially get a sale, or does she wait to lower until the whole market grinds lower, whereupon her apartment is once again stuck with no discernible competitive advantage? Sunk costs vs kia su.

 

[Dfiris]

Nice... I like

Sea Planes at PH Marina....

View attachment 25753

 

[freekazoid]

Malaysia property market...it is a norm for resale unit takes 1 year average to make a sale.