New developments to share

TonyTeo said:

Well it depends on your investment objective.

(1) KLCC prime location condo/service apartment eg FACE @ KLCC
+ safe investment due to prime location, future launches may be further away from KLCC or higher price if due to Enbloc
+ unique SOHO concept that's catching on in good central locations (rather than paying for Grade A office space & having to rent an apartment again, save with SOHO)
+ KL has bigger population of professionals than Iskandar at the moment is projected to increase faster than Iskandar, with higher income levels. So they will pick the best apartments to stay in if all else is equal
- Further away from Singapore & not so practical for retirement home

(2) Semi-D or Bungalow in Iskandar eg Bestari Heights (www.singaporepropertyforsale.info/bestari-heights)
+ Lower Psf than condos across Malaysia, bigger space & better than commodity terrace houses (all Malaysians start with terrace houses)
+ Many catalytic developments in Iskandar are pointing to real estate growth (good growth potential compared to Horizon Hills selling RM800K higher for semi-D of the same size)
+ Increasing demand from future tenants (eg universities, hospitals, industries, tourism, etc) who prefer space compared to smaller condo units
+ Demand from Singaporeans looking as alternative homes or retirement homes in future, with landed houses costing only S$450K now, can't even buy resale HDB. Plus foreigners/PRs working in Singapore who prefer to pay lower rent & enjoy bigger space by staying in Nusajaya (relatively safe, new infrastructure, near Singapore)
- Rental demand not so strong currently and may have lower yield to start with

Let me know if you need more info or to discuss SMS TonyTeo 91518836

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Who is the developer for " Face"? i will rather cautious on the developer name..Also.. SOHO is a untested market... pricing is not cheap at all..MYR1650psf??? OMG.. bayan tree and with few reputable launched at MYR2000psf... and i think E&O launched " The Meow" at between MYR 1400-1600psf

You should buy first before telling other to buy.

TonyTeo said:

Platinum Victory... Yah not so well known, but at least they have a good record of delivering projects on time & quality. The location is fantastic plus it's fully furnished. Just sharing opportunities for investors looking at properties near KLCC

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You sound like a bank teller asking auntie to buy Lehman Bonds in 2006-2007.

Do you know what the hell you are selling....?

TonyTeo said:

Platinum Victory... Yah not so well known, but at least they have a good record of delivering projects on time & quality. The location is fantastic plus it's fully furnished. Just sharing opportunities for investors looking at properties near KLCC

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TonyTeo said:

Platinum Victory... Yah not so well known, but at least they have a good record of delivering projects on time & quality. The location is fantastic plus it's fully furnished. Just sharing opportunities for investors looking at properties near KLCC

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launched in 2011.. still selling ah..

Newbie11 said:

launched in 2011.. still selling ah..

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Agent whom don't know what he is selling......

Just ignore......

The last condo I ask someone to buy in KLCC in Sept 2012 is only $1180 psf.....

There are still condo below RM1500 psf in KLCC. This condo is not available to all agents because it is secondary market. Singapore agents only can sell new launch.....avoid due to high price.

Before I bought into JB, it was actually KL that I thought off first. The food is good (gourmet food), gals are pretty, etc. In fact, I was actually considering the St. Regis. My reasoning is simple. I cant afford St. Regis SG and even if I can, I wont buy. The price is ridiculous in SG. So if I were going to buy something in KL, it has to be iconic. And the St. Regis brand is about as iconic as it is going to get.

But why didnt I buy?

1. I made countless phone calls to the developer. Nobody picked up. I made the same amount of calls to some agent before he picked up. Promised to email me the details. But he never did. So does it make sense to buy from ppl who dont seem to be around?

2. Aft I cooled down and thought about it, KL really is too far. I can't go every weekend. But with JB it's different. i can go everyday. And at this current price, where some people are complaining that it's high, to me it is still affordable. I can afford to treat it as a holiday home and not look for rental. Might be even cheaper this way cos I dont hafta pay for air tix, etc.

Just sharing.

And the KL SYT is only 60mins train ride away

The malaysian election is round the corner. If BN lose or Johor goes to the opposition, do you think there will be a change in policy for non-malaysian buying properties ?

alnine said:

The malaysian election is round the corner. If BN lose or Johor goes to the opposition, do you think there will be a change in policy for non-malaysian buying properties ?

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I don't know for other parts but very unlikely for Iskandar area given that there are many parties and even certain groups involved.

wuqi256 said:

I don't know for other parts but very unlikely for Iskandar area given that there are many parties and even certain groups involved.

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If Johor were to fall to the opposition most likely the mentri besar will be from DAP like Penang. I think they will even be more aggressive in promoting iskandar. Remember DAP =PAP

I can't comment much but one can tell how i feel as i am still in the buying mode.

wuqi256 said:

I can't comment much but one can tell how i feel as i am still in the buying mode.

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At the rate you are buying, you can retire in 2-3 years' time after you sell them off.

wuqi256 said:

I can't comment much but one can tell how i feel as i am still in the buying mode.

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How will u reply to those who say there is no resale mkt

Newbie11 said:

How will u reply to those who say there is no resale mkt

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That is also one of my concern. I heard bank valuation for resale unit is quite low, so loan value is low.

Newbie11 said:

How will u reply to those who say there is no resale mkt

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Do you mean for Laguna or in general?
I would say that they must know better if they are using this as a reason not to buy.

butadesu said:

That is also one of my concern. I heard bank valuation for resale unit is quite low, so loan value is low.

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Talking of another property here:

Someone good in properties wanted to pay only RM 600,000 for a 32 x 70 cluster in a certain development last year as the valuation was only up to there. Another bank had valuation slightly higher at RM 650k so the highest he would go to was that even though the advertised price was 930k. Another neighbour offered him a similar unit for 850 but he refused as valuation was only up to RM 650k.

Same gentleman let go of an opportunity last year to buy a Semi-D in the same precinct for slightly below 1.2 million as according to valuation, it was barely worth 900k but in that month, bank revised valuation and owner suddenly did not want to sell anymore even though offers went up to 1.3m.

That time, unfortunately he did not bought any properties as he would only pay what the valuation pays even though he has way more than the amount required to make up the difference. Very shortly after, banks raised valuation of the properties mentioned. All clusters sold for 910-930k and some for even much more than that.

As he was in a way related to me, i had to force him through some early deals and though he probably made considerable money now, he has never called or visited me further. Lesson learnt was that banks do revise their valuation albeit very reluctantly yet and very very conservatively.

On another note, alot of folks had issue with getting state consent, etc because the Cukai Harta does not show or reflect the actual price. Interestingly, a cluster that is easily sold for above 930k only has 300k as the value on the assessement hence thats why one cannot blame the banks for being so conservative.

Again, i am just an IT guy so these are just my worthless 2 cents. Cheers and prosperity to all.

A bird in the hand is worth more than two in the woods.

@ least he got a rooster in e the end from u.

Property launches, land deals renew interest in Iskandar
By WONG WEI-SHEN
[email protected]

PETALING JAYA: The recent influx of property launches and land deals in Iskandar Malaysia has renewed investor interest in the region, said two research houses. But they had different views on the sustainability of the demand.

The more bullish view was expressed by Maybank IB Research analyst Wong Wei Sum. She expects the price momentum and demand for properties to remain strong, as foreign investments continue to rise, coupled with better connectivity by 2018 following the scheduled completion of the rapid transit system (RTS) link between Johor and Singapore.

Wong noted that Singaporean investors were impressed by the infrastructure development and visible incremental progress in the Iskandar region, from a year ago.

“Most of them are more bullish on Iskandar's long-term potential post site visit and believe that it would benefit from skyrocketing property prices in Singapore given its close proximity,” she said in a note after a recent visit to the region.

She said the focus was currently on lifestyle landed property projects in Nusajaya, including Medini, as Danga Bay was still undergoing massive reclamation works.

Wong pointed out that UEM Land Holdings Bhd's Teega @ Puteri Harbour, a high-end condominium project, was close to being fully taken up in just three months since its official launch. The average selling price for Teega @ Puteri Harbour is between RM850 and RM1,100 per sq ft.

Wong also highlighted that SP Setia Bhd's Sky Breeze at Bukit Indah, a condominium project priced at RM550 per sq ft, was fully sold in a month.

“Landed properties continue to do well in both the primary and secondary markets. In a private preview, all 24 semi-detached units priced between RM650 and RM700 per sq ft in East Ledang were snapped up in a day,” she said.

However, PublicInvest Research, in a note, questioned the sustainability of demand flowing into the region.

“Notwithstanding Iskandar's potential, we are of the view the sheer size of Iskandar Malaysia (measuring 2,217 sq m or three times the size of Singapore) would mean demand should normalise despite the recent brisk sales,” said PublicInvest Research analysts.

The research house added that the recent cooling measures in Singapore sparked the interest in Iskandar.

However, based on its estimates, the demand for Iskandar properties might take longer than expected to achieve the sales in Kuala Lumpur and Selangor.

“We note that currently for properties above RM500,000 per unit, Johor is selling circa 1,000 units (from 300 units in 2008) as compared with 18,000 units in Selangor and 10,000 in Kuala Lumpur,” it noted.

Should rental yields fail to meet the benchmark prices recorded in recent launches, eventually the fundamentals might prevail in the long run and hence, the strong price momentum might struggle to continue, PublicInvest said.

The key drivers that sparked investors' interest of late were the completion of attractions such as Legoland, Johor Premium Outlet, Puteri Harbour Family Indoor Theme Park, universities and other upcoming big profile projects such as Pinewood Studios.

In addition, warmer Malaysia-Singapore government ties may lead to possible collaboration, in particular high-impact infrastructure projects such as the high-speed rail linking Kuala Lumpur and Singapore, RTS connectivity linking Johor and Singapore and other highway projects.

Recent land deals from Singapore included established names such as Temasek, CapitaLand and Ascendas Land.

“Ultimately, we believe the key is still tapping the demand from Singapore,” PublicInvest analysts said.

Thanks bro wuqi,

Good to know banks do revaluation from time to time.

wuqi256 said:

Talking of another property here:

Someone good in properties wanted to pay only RM 600,000 for a 32 x 70 cluster in a certain development last year as the valuation was only up to there. Another bank had valuation slightly higher at RM 650k so the highest he would go to was that even though the advertised price was 930k. Another neighbour offered him a similar unit for 850 but he refused as valuation was only up to RM 650k.

Same gentleman let go of an opportunity last year to buy a Semi-D in the same precinct for slightly below 1.2 million as according to valuation, it was barely worth 900k but in that month, bank revised valuation and owner suddenly did not want to sell anymore even though offers went up to 1.3m.

That time, unfortunately he did not bought any properties as he would only pay what the valuation pays even though he has way more than the amount required to make up the difference. Very shortly after, banks raised valuation of the properties mentioned. All clusters sold for 910-930k and some for even much more than that.

As he was in a way related to me, i had to force him through some early deals and though he probably made considerable money now, he has never called or visited me further. Lesson learnt was that banks do revise their valuation albeit very reluctantly yet and very very conservatively.

On another note, alot of folks had issue with getting state consent, etc because the Cukai Harta does not show or reflect the actual price. Interestingly, a cluster that is easily sold for above 930k only has 300k as the value on the assessement hence thats why one cannot blame the banks for being so conservative.

Again, i am just an IT guy so these are just my worthless 2 cents. Cheers and prosperity to all.

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....thought you stay in sg work in johore? You experience jam doing u turn?