Setia Sky 88 community

[freedom]

Not everyone here is able to make a million in property obviously....

 

[freedom]

Pap has already said 6.9 mil by 2030...if u believe it will come true, then can consider investing in condos near RTS...if not, don't...easy...

 

[mpan12]

Did she said she is a doctor?
Since she said to be retiring soon, so must have at least a 7 figure bank account.
Most experienced and successful doctors can earn tons of money in SG and if you are a specialist, better still, buying that semi-D in SG is small change and can enjoy all the finer things in life in SG, why bother to come to JB?
Maybe she is only a nurse?

She's a lazy locum GP. Locum means she goes around doing part-time work in clinics that she don't own. She work for other doctors.

Pay may be good for locum but nothing fantastic. But I don't know how long she works in a week. Being lazy, maybe she doesn't even work every day. In a month, maybe her salary is only $10-12k. That's little for a 40-something year old doctor. Successful medical specialists at that age earn close to S$20k a month. And all the way to S$100,000 a month depending on public/private practice, area of specialty, etc.

She also got to feed her sons and a husband that was in and out of job. She thinks Singapore is too stressful and worry whether her kids can afford a home next time. Hence, she bought her Johor property as a safeguard.

Maybe the above profile explains her behaviour and thinking.

 

[Relaxman]

I don't agree with this.

Firstly, as always, the dangers with some people is comparing properties from different countries. Everyone should know by now Johor properties don't work the same way as SG properties. I suspect that's one big reason why in 2013, so many Singaporeans rushed into Iskandar to buy properties without much thought. (Of all things, Johor condos at RM800-1000 psf which most Malaysian locals won't even touch or can afford?!) That was the year they were hardest hit by the property cooling measures. And they thought, ok, Johor condos so cheap. Let me buy and "invest". I can rent it out and make positive returns. Opps...

Nothing much has changed about Iskandar in the last 3 years. So why did the market in Iskandar suddenly quieten down in 2014 and got even worse after that? Again, I suspect it's the news that there is a huge oversupply coming up in Iskandar. 300,000. Go figure. Forest City that can cater to 700,000 residents! In case some think it was a typo, and should be 70,000, I type here again: 700,000.

For some completed condo projects in Johor, Singaporeans are desperately trying to offload them now but without success. Who wants to buy? And those who bought between RM500k to RM1mil, they are stuck.

Secondly, Singapore's history is not even anywhere near 100 years. Why paint an end-of-the-world picture about leasehold properties? My good friend had an old flat that was 39 years old. Back then, maybe you would have told him: "Haha.. friend your useless flat is so old and leasehold. Prepare for its value to drop to zero soon."

However, the flat was en bloc in 2008. The government relocated them to another nearby good location. It was bought at only S$200+k. After just a short 5 years after that, the price shot up to a high S$700+k. Go figure the profits. And this is not an isolated case.

For Johor? I admit I dunno. Those Johorean families likely bought their properties a long time ago. They don't care about Malaysian policies or currency exchange. They're gonna die in Johor anyway and their kids need a home to live in when they grow up. So they don't worry like a foreign investor.

How much did a Johor landed property cost years ago? RM100-200k? Of course it's a no brainer they will make some profits. Compare that with prices of today which included foreigners and Singaporeans rushing in to buy. In particular, look at Johor condos. Yes most of them are freehold. But can they be sold off easily in the resale market? Please tell. Cos I wish to know too.

It is true for those who bought their condo are stuck now. No one will buy the resale condo unless it is dirt cheap now. As for unsold new units, some developer transform it into motel and rent it out on daily basis. So far KSL is doing that. SP Setia is looking into that option too. I wouldnt be surprise if Setia sky 88 might change to a motel too.

 

[Relaxman]

She's a lazy locum GP. Locum means she goes around doing part-time work in clinics that she don't own. She work for other doctors.

Pay may be good for locum but nothing fantastic. But I don't know how long she works in a week. Being lazy, maybe she doesn't even work every day. In a month, maybe her salary is only $10-12k. That's little for a 40-something year old doctor. Successful medical specialists at that age earn close to S$20k a month. And all the way to S$100,000 a month depending on public/private practice, area of specialty, etc.

She also got to feed her sons and a husband that was in and out of job. She thinks Singapore is too stressful and worry whether her kids can afford a home next time. Hence, she bought her Johor property as a safeguard.

Maybe the above profile explains her behaviour and thinking.

How u know her so well? Very informative indeed.

 

[mpan12]

Btw, I already made S$300k realised profit and S$700k paper profit on my Sg properties...how about you mpan? How good r u in investing in properties? Care to share?

Wow, sensitive words. You touched a raw nerve in me. So your point being....?

Am I supposed to say I've already owned 10 properties and realized more than $1million in profits before I can discuss and make comments here? Who are you to be my benchmark?

But I'm not going to do that. I admit I didn't make as much as you. And I'm not ashamed. My SG property is sitting on $300,000 of paper profit. I do have other investments.

Or are you trying to show off your little wealth? Give me a break. Adding the 2 paper and realized profits of yours, it's only $1million. You even dare to say it out? That's nothing to shout about for property investment at your age. I'll let others here (like xebay11) who have made so much more $$$ talk to you.

This is a forum for discussion. I was going along talking about Johor condos and you too-free-nothing-to-do doc got to walk in and tell us how you are S$40k "richer" in paper profits you gained from your Austin Heights house, how nice big garden you can have next time, and now, you are trying to look down on me? What are you trying to do?

If you want to stay on the discussion, point out to me and the rest about Johor condos since this forum is about that. No one is asking about how little you have made from your properties.

You want to motivate others, go create another new topic such as "How I become rich buying Johor properties".

What I have discussed is based on a cumulation of knowledge (which I consider invaluable) from other astute investors, property analysts which I believe in. Many of them make more than 10x of your "$1million" profits. So I don't blabber rubbish here.

Of course, I have also encountered an equal number of rubbish property agents from Singapore and Malaysia who told me lies in the hope I could buy or invest wrongly.

At the end, it's my opinions on things. You can disagree amicably, I am fine. But you start attacking me personally like you did yesterday, I take offence and I will bite you back.

 

[mpan12]

How u know her so well? Very informative indeed.

Haha... She blabbered so much....

And yet she dared to question me why I talked so much in this forum? Tsk tsk....

 

[mpan12]

It is true for those who bought their condo are stuck now. No one will buy the resale condo unless it is dirt cheap now. As for unsold new units, some developer transform it into motel and rent it out on daily basis. So far KSL is doing that. SP Setia is looking into that option too. I wouldnt be surprise if Setia sky 88 might change to a motel too.

Yup. I don't know how "dirt cheap" is dirt cheap. Maybe 50% discount even got problem to sell it.

If resale condos are so cheap and no one wants, what will happen to those new condos that cost above RM700psf when they are completed soon?

I know which KSL project you are talking about. The D'Inspire right? Hutton agents were singing praises about this project in 2013. I was advised it's a Must Buy investment. I got sms-es every day from them. They told me it's in the heart of a good location, so many amenities, easy to find tenants, sure got capital appreciation. What happens now? If I had bought it, I can't even sell to a foreigner now. Would Malaysians buy? Can I even rent it out for profits?

I'm sure back then, if there is a D'Inspire forum discussion here, some might have advised me "Don't worry. Your condo will sure huat one. Ignore those who speak negatively."

 

[winners]

I don't agree with this.

However, the flat was en bloc in 2008. The government relocated them to another nearby good location. It was bought at only S$200+k. After just a short 5 years after that, the price shot up to a high S$700+k. Go figure the profits. And this is not an isolated case.

For Johor? I admit I dunno. Those Johorean families likely bought their properties a long time ago. They don't care about Malaysian policies or currency exchange. They're gonna die in Johor anyway and their kids need a home to live in when they grow up. So they don't worry like a foreign investor.

How much did a Johor landed property cost years ago? RM100-200k? Of course it's a no brainer they will make some profits. Compare that with prices of today which included foreigners and Singaporeans rushing in to buy. In particular, look at Johor condos. Yes most of them are freehold. But can they be sold off easily in the resale market? Please tell. Cos I wish to know too.

No point talking sense into him. He's very myopic in his view and doesn't have in-depth knowledge of how the Singapore properties evolutionize. I have already recovered the full cost of my HDB since being rented out from 2005, not to mention its current capital appreciation. No owners who had bought directly from the HDB would have lose money unless due to repossessions by the HDB, despite being a 99-year leasehold property. Like you said, the government is not stupid and will always upgrade them with en bloc. This is also a better means to upgrade the standard of living in Singapore as its people and the nation progresses and at the same time, I must also say that both the owners and the government are making money out of it. It's a win-win situation.

If the HDB has been such a useless tangible investment, why are some of those who buy properties in JB are in one way or another, having to thank their HDB for the recurring (rental) incomes to supplement their living costs and JB mortgages?

Also, there are others who will always complain about too many FTs in Singapore. Don't they ever think that if this sector of people will be drastically reduced, where are they going to get tenants for their rental properties? Not many Sinkies will rent unless those who are waiting for their new house/flats to be completed. So, in many ways, these people who always complain about too many FTs are foolishly shooting themselves in their own feet, especially if they are landlords themselves.

I am always of the opinion that what the Singapore government does is generally good for its people, albeit they also do make mistakes on certain of their policies on and off. If one is to disagree or disapprove, then must think of ways to circumvent it so as to make life easier for yourself.

 

[Frodo]

I don't agree with this.

Firstly, as always, the dangers with some people is comparing properties from different countries. Everyone should know by now Johor properties don't work the same way as SG properties. I suspect that's one big reason why in 2013, so many Singaporeans rushed into Iskandar to buy properties without much thought. (Of all things, Johor condos at RM800-1000 psf which most Malaysian locals won't even touch or can afford?!) That was the year they were hardest hit by the property cooling measures. And they thought, ok, Johor condos so cheap. Let me buy and "invest". I can rent it out and make positive returns. Opps...

Nothing much has changed about Iskandar in the last 3 years. So why did the market in Iskandar suddenly quieten down in 2014 and got even worse after that? Again, I suspect it's the news that there is a huge oversupply coming up in Iskandar. 300,000. Go figure. Forest City that can cater to 700,000 residents! In case some think it was a typo, and should be 70,000, I type here again: 700,000.

For some completed condo projects in Johor, Singaporeans are desperately trying to offload them now but without success. Who wants to buy? And those who bought between RM500k to RM1mil, they are stuck.

Secondly, Singapore's history is not even anywhere near 100 years. Why paint an end-of-the-world picture about leasehold properties? My good friend had an old flat that was 39 years old. Back then, maybe you would have told him: "Haha.. friend your useless flat is so old and leasehold. Prepare for its value to drop to zero soon."

However, the flat was en bloc in 2008. The government relocated them to another nearby good location. It was bought at only S$200+k. After just a short 5 years after that, the price shot up to a high S$700+k. Go figure the profits. And this is not an isolated case.

For Johor? I admit I dunno. Those Johorean families likely bought their properties a long time ago. They don't care about Malaysian policies or currency exchange. They're gonna die in Johor anyway and their kids need a home to live in when they grow up. So they don't worry like a foreign investor.

How much did a Johor landed property cost years ago? RM100-200k? Of course it's a no brainer they will make some profits. Compare that with prices of today which included foreigners and Singaporeans rushing in to buy. In particular, look at Johor condos. Yes most of them are freehold. But can they be sold off easily in the resale market? Please tell. Cos I wish to know too.

In my view past opportunities are...well...past. We can't go back to the good old days again when people bought HDB units at 1980s/90s prices. Also not every HDB owner gets to taste the sweet profits of having their flats go en bloc. For many of us, it is the "now how?" that matters. Those who have made their profits from early purchase of new HDB units and able to capitalise on that (be it en bloc or sell high in good location) and build up even more wealth from that, good for them. But I believe many people today could not have been on that bandwagon simply because we are not all born at the same time or were at different stages of life. For the seller who made $500K on his HDB, good for him. But the buyer who bought from him may not get to reap such profits. And I read here that Singapore properties for now may not be that rosy too. https://sg.news.yahoo.com/10-reasons-why-m-negative-singapore-property-prices-141013197.html

For JB properties, it is definitely the case that a few years ago many were caught up in the hype and bought condos thinking that they can have a slice of the prosperity pie. Developers and their appointed sales agents would promote the condo projects and throw in many things. And the China people came in and changed the game...some may even say they wrecked the game....anyway...these are things beyond the control of property buyers. Life goes on.

In my view, not every JB condo is the same everywhere. As said before, some JB condos would do better than others, depending on location and concept and its own unique selling features. Perhaps many will be indeed be stuck, and perhaps for many terminating the purchase may not be a viable option depending on the terms and conditions of purchase. I wish them the best and hope JB Govt will quickly move things along. Regardless of how we feel about JB properties and whether fellow Singaporeans were foolish (even stupid) to put money into JB properties, I feel that as fellow Singaporeans we should still sincerely wish each other well and not evil, or gloat over what we believe are their bad fortunes or "just desserts". Don't have to sugar-coat what we believe is the ugly truth but still we hope the best for the other person. I think that's just being nice people lor.

 

[freedom]

I am not sure if government will enbloc all HDB flats when leases are up...safer to upgrade to a freehold property in Sg if you can afford it if buying for stay and investment, helps to protect its value...that is why 1 in 6 people sell their BTO when 5 year MOP is up as recently reported in The Edge....unless you wanna stay there and grow old in your HDB then you should keep it as one only has 2 chances to buy BTO and to buy back must sell all other properties...

 

[freedom]

Condos are a lifestyle aspiration for many young people and with Sg getting more expensive, affordable condos in nearby accessible JB has its market in these aspiring young families who perhaps do not need to travel to work as with the advent of the internet, can work from home, or entrepreneurs with ecommerce business....There is a market with population growth, not just in Sg but also in malaysia and FT employed to work in Sg...condo rentals are still much higher in Sg compared to JB and company budgets are reducing in future with Brexit and whatnot...

 

[Frodo]

No point talking sense into him. He's very myopic in his view and doesn't have in-depth knowledge of how the Singapore properties evolutionize. I have already recovered the full cost of my HDB since being rented out from 2005, not to mention its current capital appreciation. No owners who had bought directly from the HDB would have lose money unless due to repossessions by the HDB, despite being a 99-year leasehold property. Like you said, the government is not stupid and will always upgrade them with en bloc. This is also a better means to upgrade the standard of living in Singapore as its people and the nation progresses and at the same time, I must also say that both the owners and the government are making money out of it. It's a win-win situation.

If the HDB has been such a useless tangible investment, why are some of those who buy properties in JB are in one way or another, having to thank their HDB for the recurring (rental) incomes to supplement their living costs and JB mortgages?

Also, there are others who will always complain about too many FTs in Singapore. Don't they ever think that if this sector of people will be drastically reduced, where are they going to get tenants for their rental properties? Not many Sinkies will rent unless those who are waiting for their new house/flats to be completed. So, in many ways, these people who always complain about too many FTs are foolishly shooting themselves in their own feet, especially if they are landlords themselves.

I am always of the opinion that what the Singapore government does is generally good for its people, albeit they also do make mistakes on certain of their policies on and off. If one is to disagree or disapprove, then must think of ways to circumvent it so as to make life easier for yourself.

Not many people would get to taste en bloc on their HDB flats. Had my HDB gone en bloc, I would most likely remained in Singapore and enjoy comfortable living. But sad to say, that is not the case. And not many people will be able to rent out their HDB flats because that’s the only home they have in SG, unless they take their whole family and bunk in with some relatives so that they can earn rental on their HDB. But I doubt many would want to do that. Everyone’s life circumstances are different. If some can afford a private property in SG and rent out their fully paid HDB, good for them. But I know many cannot, including me. It was only because of the choice to move over to JB that I could rent out the HDB, something I never even thought was possible because people in my category by right should not be able to rent out their HDB units one. So I fully agree that HDB is a good thing to have…though the high prices today are going to be a problem for many. It’s just going to get more difficult.

 

[ECboy]

Condos are a lifestyle aspiration for many young people and with Sg getting more expensive, affordable condos in nearby accessible JB has its market in these aspiring young families who perhaps do not need to travel to work as with the advent of the internet, can work from home, or entrepreneurs with ecommerce business....There is a market with population growth, not just in Sg but also in malaysia and FT employed to work in Sg...condo rentals are still much higher in Sg compared to JB and company budgets are reducing in future with Brexit and whatnot...

Renters will always be there, buyers will always be there. Just depends on your location, development and specific unit. Same as SG, not everywhere is "high quality".

 

[winners]

Not many people would get to taste en bloc on their HDB flats. Had my HDB gone en bloc, I would most likely remained in Singapore and enjoy comfortable living. But sad to say, that is not the case. And not many people will be able to rent out their HDB flats because that’s the only home they have in SG, unless they take their whole family and bunk in with some relatives so that they can earn rental on their HDB. But I doubt many would want to do that. Everyone’s life circumstances are different. If some can afford a private property in SG and rent out their fully paid HDB, good for them. But I know many cannot, including me. It was only because of the choice to move over to JB that I could rent out the HDB, something I never even thought was possible because people in my category by right should not be able to rent out their HDB units one. So I fully agree that HDB is a good thing to have…though the high prices today are going to be a problem for many. It’s just going to get more difficult.

I still think there are many affluent Sinkies who are upgrading to private condos or ECs. Otherwise, where to get the majority of local buyers for these projects?

By the way, this is the challenge in one's life. That is to continue to earn more, upgrade and improve on one's living standard as it gets along.

 

[Frodo]

I still think there are many affluent Sinkies who are upgrading to private condos or ECs. Otherwise, where to get the majority of local buyers for these projects?

By the way, this is the challenge in one's life. That is to continue to earn more, upgrade and improve on one's living standard as it gets along.

Agreed. Except for my category, such progress cannot be attained in Singapore at all, but is now realised in JB. What many would consider a downgrade is for me and my family, a significant upgrade.

 

[winners]

So I fully agree that HDB is a good thing to have…though the high prices today are going to be a problem for many. It’s just going to get more difficult.

When you bought your HDB at that time, I bet you were also saying "why so expensive?" 10, 15 years down the road, you should have a second opinion, especially if it's a new one directly from the HDB.

 

[winners]

Agreed. Except for my category, such progress cannot be attained in Singapore at all, but is now realised in JB. What many would consider a downgrade is for me and my family, a significant upgrade.

I have to agree that relocating to JB is a good option for many, especially for those in the mid to late 40s onwards because your value in the job market will diminish very quickly unless you are in a niche market/job sector. However, this is the worldwide trend which you and I cannot do much about it.

 

[mpan12]

My friend's en bloc case is only highlighted an example. Don't take it so rigidly. I am only trying to show how much in demand SG properties are.

You can still make money in non-en bloc flats or condos.

Till today, I know even a 35 year old HDB flat is still in demand and can command high prices considering this slow market.

My point is, don't worry unnecessarily. SG is not going to be doomed any time soon. There are many leasehold properties because land is limited. But HDB flats are still in demand. Leasehold private properties still have their value.

Of course, if one can get freehold, why not? But they tend to be much more expensive and not easy to come by these days for new ones. Historical data have shown sale of leasehold properties does not necessarily mean lesser profit compared to freehold. You guys must understand property investment depends on so many factors.

 

[freedom]

I have to agree that relocating to JB is a good option for many, especially for those in the mid to late 40s onwards because your value in the job market will diminish very quickly unless you are in a niche market/job sector. However, this is the worldwide trend which you and I cannot do much about it.

It is a great option for people who wanna retire early(like me) or who are retrenched (like my hubby)....no need to work and can still survive, why not? Mark my words, there will be more and more Sgpn, SPR, FT working in Sg relocating there in the years to come...