Living in JB 3 (Johore)

[investor5]

This is the latest property news. Quite true in a way. It has been brought to my attention that sales of some tamans are almost nil for the past few months. Asking prices are simply ridiculous by some owners who think their terraces are worth the price of GCBs. If the house has special selling points such as golf/lake/hill views, high asking prices are justified. I am referring to worn-down terraces.

Some terraces in Horizon Hills are asking for as high as RM 800K when the valuation is a weak RM 600K at most. Some semis in East Ledang are asking for RM 2m when the valuation is only RM 1.5m or so. I am glad that the association has taken notice of this trend.


The weak performance of the property market will continue until next year as high prices continue to deter buyers, according to Siva Shanker, Deputy President at Malaysian Institute of Estate Agents (MIEA).

"Asking prices are too high. The buying frenzy is over. In 2010 and 2011, some residential sectors saw an increase of about 30 percent, which is way too high and moving towards a bubble. This trend has somewhat plateaued," said Siva.

"What's happening now is there is no meeting of minds between the asking and the accepting price. The gap is just too wide and there are fewer transactions taking place," he added.

Additionally, the disparity between the asking price and the actual price of a property leads to the abortion of the sale, with funding as a major problem.

"For example, the asking price of a property is RM1 million but the valuation amount might only be RM800,000. There's a shortfall of RM200,000 and banks lend you money based on either the selling price or the valuation price whichever is the lower."

"So if the valuation price is RM800,000 and you're eligible for a 70 percent loan based on that amount, you get a sum of around RM560,000. This means the buyer is going to have to top up RM460,000 on his own!"

Meanwhile, Siva noted that the responsible lending guidelines of Bank Negara, which has been implemented this year, also created an impact on Malaysia's property market.

[Mingchye]

The sub-sale market salesmen are not much better. The so-called top salesmen from East Ledang / Horizon Hills ( names I need not mention ) are solely responsible for jacking up the resale market. They controlled the market and kept fat profits to themselves. How I know? My good friend sold an end corner in East Ledang through a fat property agent man. Asking price from owner friend was RM 1.1m. End up advertised for RM 1.3m. Friend kept the RM 1.1m but selling price is inflated to RM 1.3m. Who kept the RM 200k? Needless to say, once the RM 1.3 m is lodged, banks will base this latest sales to access the valuation, which kept shooting through the sky!

No wonder the resale market is sprilling out of control. This is happening everyday and in almost every single deals in East Ledang, Ujana, Nusa Idaman, Senibong Cove etc.

Clearly, something needs to be done. Sporeans and foreign investors are treated like suckers everyday in Iskandar.

So far when I visit the prop gallery or when I bring my friends there to view, I have only spoken with Shinyi and I think she is professional and no hard-sell. I guess there will always be rotten apples and I do agree with investor5 that those sort of behaviour should not be condoned and is very unprofessional/unethical.

I have only started investigating into Nusajaya, specifically HH, properties end of 2011 and the sub-sale asking prices from then till now have been rising fast (too fast imho). Kinda reminds me of the property price shootup experienced in SG prior to the 2008 GFC. Shocking and uncomfortable to see prices going up like this.

[captainjones]

Thank you Wuqi256 for your reply and advise.

We are buying a set from Taobao to try it out. If it doesnt work out, have to pay and get the professionals to help.

Regarding those 5RM alarms, i saw a number from Taobao, we are planning to get some too.

Thanks for the information. Its helpful.

hi melodysoul, go for those wireless alarm types. there are batteries operated ones. save u time and effort on laying trunkings. I have just asked my friend for the url of the wireless alarm he bought. will post it here once he replied.

[investor5]

Shinyi is the good one. I bought a property in Horizon Hills 2 years ago through a Malay chap. I think he was driving some protons or peroduas. Very humble guy. Recently saw him and he changed to a BMW 335i worth RM 500,000. Even ignored me when I said hello to him because I am still driving my 7 year old lancer.

I am wondering also how on earth did he get the money to buy such an expensive marque when I chanced upon another sales girl who told me that his sidelines easily make him RM 200,000 per month.

No wonder he drives a 335I worth more than my terrace house!

Another salesman, Chris is worse. He not only try to sell his own properties at sky-high prices to unsuspecting buyers from Singapore ( Singapore dollar income family ) but also get them to renovate their houses through his sideline interior design firm that he has set up! What was revealed here by Investor5 is the tip of the iceberg. The illegal practice must be stopped. How can my unfurnished and low-class quality finishing terrace house in Horizon Hills be selling at RM 800,000 now when the cost price is only RM 50,000 to RM 100,000 I really dont know, unless some quarters are jacking up the prices indiscriminately. You go to Bukit Indah, Bestari Heights, Nusa Idaman. Very very high quality finishing terraces at most cost RM 500-RM 600k.

The fat sub-sale property agent who was mentioned need to be shot. Every deal he will chut some monkey business to yield himself fat profits. I heard his take home salary is RM 200,000 per month. Very true indeed. The monkey business has to be stopped. Once the economic slowdown comes, imagine all our so-called RM 800K ultra-inflated house value drop to their real value of RM 200,000. I think many residents in Horizon Hills will jump into the lake and Horizon Hills will become Horizon HELL while East Ledang will become East HEAVEN.

So far when I visit the prop gallery or when I bring my friends there to view, I have only spoken with Shinyi and I think she is professional and no hard-sell. I guess there will always be rotten apples and I do agree with investor5 that those sort of behaviour should not be condoned and is very unprofessional/unethical.

I have only started investigating into Nusajaya, specifically HH, properties end of 2011 and the sub-sale asking prices from then till now have been rising fast (too fast imho). Kinda reminds me of the property price shootup experienced in SG prior to the 2008 GFC. Shocking and uncomfortable to see prices going up like this.

[geritan]

Thanks. If we go in the evenings, what time does it close?

They close at 6pm on weekdays and 8pm on weekends. Park close on Wednesdays. My family and I were there on the opening day. It was very hot.
Remember to bring umbrella and sunblock and lots of water.
FYI, annual pass holders only allowed to enter the park once a day. Meaning you can't exit the park and return later. Only exception is to go the your car to get something. Were told about this after we try to re-enter for the firework after had dinner at Mall of Medini.

[Grago]

Thanks for that piece of Infor.
Not so good about entry for Annual Pass Holders. Don't see why there should be restriction??? After all the money already been "collected and used" so why not allow Annual Pass Holder enter more than once?? I never had that problem with the "Bird Park or Zoo", after all with kids you never know what "sudden emergencies" arises!!!

[siacw]

should complain to the management of legoland. The T&C did not mention enter once a day. it mention UNLIMITED entry.

[Mummymoo]

Can I ask if anyone here is sending/thinking of sending their kid/s to an international school in JB...? Thanks!

[Grago]

You are quite right. They "misrepresented" to entice the unwary to part with their hard earned cash for that few hours of relaxation and "peace"........
Seriously bro. the management should read their own T&C before getting their staff to inform the customers of this "nonsense"..... They would counter the complain to say that the public misunderstood and that it meant " as many times" during the year BUT not in a day. Bet you that's the argument that will be used..... to save their behind!!!

[Raiders]

Hi Raiders, glad to see you here. Yes they are, we have been saying for the longest time. Even if one don't stay here, one should use the medical facilities here. There are more than a few good clinics around, you can ask around easily.

Its located opposite this location: Jalan Indah 10/1, Taman Bukit Indah, 81200 Johor Bahru, Johor.

Hi boss, can I trouble you to get their contact number for me? I want to know their 3 shots HPV vaccination costs and contraceptive implant costs.

I heard from a friend that in JB, it costs 600rm for 3 shots over 6 months. In Singapore, it costs 450sgd. I'm also very keen to know how much the implant will cost. The one that they put something under the skin of the arm. I'll be going there this sat.

[captainjones]

hi melodysoul, go for those wireless alarm types. there are batteries operated ones. save u time and effort on laying trunkings. I have just asked my friend for the url of the wireless alarm he bought. will post it here once he replied.

http://www.aliexpress.com/store/407927

[cathylmg]

..... Dont believe me please make a trip to the sales office. Whenever I intro friends to the sales office, cross selling occurs where these scheming in-house sales will PUSH ( I mean literally PUSH ) their own properties in Horizon Hills to buy. They bought at cheap rate and planning to flip to goondos Sporeans or Spore-based noob at profits of up to RM 500,000. No wonder they can drive BMW 335is even though their supposedly FIXED salary is only RM 3000. A few even went to the extent of SETTING up their own interior design firms and proceed to lure unsuspecting cilents of Horizon Hills to their own firms. Cmon, isnt this a strong conflict of interest? ........

Well what can someone with a miserable rm3k salary do to increase their income? When people don't earn enough, they become 'creative'... Afterall, the developers are the ones that pocket all the big profits from their sales. I seriously think that developers should consider giving commision to their sales staffs. That will result in a rise in their standard of service for sure.

PS: Its only my 2cents. Not a call for any action.

[wuqi256]

Hi boss, can I trouble you to get their contact number for me? I want to know their 3 shots HPV vaccination costs and contraceptive implant costs.

I heard from a friend that in JB, it costs 600rm for 3 shots over 6 months. In Singapore, it costs 450sgd. I'm also very keen to know how much the implant will cost. The one that they put something under the skin of the arm. I'll be going there this sat.

I will try to find for you but you can also call this hospital as well:
http://www.kpjjohor.com/Sexually-Tra...icle-1238.html

An HPV vaccine is available for young women and men. The HPV shot is approved for females and males aged 9 to 26. It’s best to get the HPV shot before a young person has any sexual activity. This is why the 3-shot series is recommended as a routine vaccination for girls and boys aged 11 to 12. The vaccine protects against the most common strains of the HPV virus that cause cancer of the cervix and genital warts.

[wuqi256]

Bros and sisters, from the feedback of banks as well as some of my friends and neighbours, i would like to share this.

Those who are buying properties in the near future, please take note of the following to avoid wasting your time and that of the property owner or agent as well. Applies mainly to residential properties. This is by no means 100% accurate and case by case exceptions do take place from time to time. When in doubt, seek legal or expert aid.

For any property for any development, if you are not Singaporean and have no Malaysia/Singapore wife = Most of the time cannot get any loan above 60% of the valuation for the property.

For any property for any development, if you are Singaporean and have no credit history in Malaysia = 70-80% loan for most of the time. Exception is if you and/or spouse are drawing a high enough pay, then can appeal for 85-90% loan but on a case by case basis. Except if its the 2nd or third property. Then 80% for 2nd and usually 70% for the third property.

For any property for any development, if you are Malaysian = 80-90% loan for most of the time except if its the 2nd or third property. Then usually 70% for the third property. If you are a Singaporean or a foreigner with a Malaysian wife, you may be able to get into this category especially if she is working in Malaysia and has a credit history that they can refer to.

*To be eligible for most bank loans at 80%, a couple combined income must be at least 10,000 MYR (Ringgit) or 5000 SGD monthly (They use 2x rather than 2.4 or 2.5) For those who are Malaysians or married to one, then they may use 2.4 to calculate.

Assuming 80% loan, the following applies:

For a 500k property, one must prepare at least 20%, meaning about 100k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 30,000 MYR (Ringgit) - Meaning one needs at least 130,000 MYR (Ringgit) to be on the safe side.

For a 700k property, one must prepare at least 20%, meaning about 140k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 3-40,000 MYR (Ringgit) - Meaning one needs at least 180,000 MYR (Ringgit) to be on the safe side.

For a 900k property, one must prepare at least 20%, meaning about 180k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 3-40,000 MYR (Ringgit) - Meaning one needs at least 210,000 MYR (Ringgit) to be on the safe side.

Ones monthly loan for a house should be at a maximum of 1/3 of ones monthly income. For someone to service a monthly loan of 3000 MYR for example, their combined income (couple) should be 10,000 MYR monthly.

This is as we have bros who come in and ask around but we tried to help them with the loans for Nusa Sentral, Nusa Duta etc but most got rejected. Its fine if one does not have enough but when we suggested to help them get a smaller house, they scoff at us and said they are rich but somehow most banks reject them. Tried your best to help them but the banks just don't accept them.

Then one said they will buy 2 or more if we can get banks to approve 90% for each of the house and suggested we can do under the table. Straightaway told my bro to say no as too much risks involved.

We even have people who haughtily said, Malaysia, for 100k MYR i still get me at least 1-2 houses, don't bluff old Uncle ok. I am sure 500 SGD, i can place deposit for a subsale or place for one in EL/HH already.

Yes, really encountered some like that, now i know how some banks feel.

[wuqi256]

The wife of a friend of mine wrote a blog to help people to go to Legoland via 1st link
http://www.jaynechua.com/category/jb-legoland/

Please feel free to forward to your friends/relatives who are interested to go to Legoland.

[Lord Aragorn]

They close at 6pm on weekdays and 8pm on weekends. Park close on Wednesdays. My family and I were there on the opening day. It was very hot.
Remember to bring umbrella and sunblock and lots of water.
FYI, annual pass holders only allowed to enter the park once a day. Meaning you can't exit the park and return later. Only exception is to go the your car to get something. Were told about this after we try to re-enter for the firework after had dinner at Mall of Medini.

Thank you & wuqi for the info.

[Lord Aragorn]

Can I ask if anyone here is sending/thinking of sending their kid/s to an international school in JB...? Thanks!

I do have such intentions.

[vincentck]

Can I ask if anyone here is sending/thinking of sending their kid/s to an international school in JB...? Thanks!

We have that plan; depends on what kind of int'l opens in Johor in the next few years.

[Mummymoo]

I do have such intentions.

Thanks for replying Lord Aragorn and Vincentck! I am thinking of putting my youngest child in an international school after her (much dreaded) PSLE in 2 yrs time. I'm now just checking on what schools are available although I would much prefer to hear from you and others if they have any comments or feedback on these schools.

[butadesu]

Bros and sisters, from the feedback of banks as well as some of my friends and neighbours, i would like to share this.

Those who are buying properties in the near future, please take note of the following to avoid wasting your time and that of the property owner or agent as well. Applies mainly to residential properties. This is by no means 100% accurate and case by case exceptions do take place from time to time. When in doubt, seek legal or expert aid.

For any property for any development, if you are not Singaporean and have no Malaysia/Singapore wife = Most of the time cannot get any loan above 60% of the valuation for the property.

For any property for any development, if you are Singaporean and have no credit history in Malaysia = 70-80% loan for most of the time. Exception is if you and/or spouse are drawing a high enough pay, then can appeal for 85-90% loan but on a case by case basis. Except if its the 2nd or third property. Then 80% for 2nd and usually 70% for the third property.

For any property for any development, if you are Malaysian = 80-90% loan for most of the time except if its the 2nd or third property. Then usually 70% for the third property. If you are a Singaporean or a foreigner with a Malaysian wife, you may be able to get into this category especially if she is working in Malaysia and has a credit history that they can refer to.

*To be eligible for most bank loans at 80%, a couple combined income must be at least 10,000 MYR (Ringgit) or 5000 SGD monthly (They use 2x rather than 2.4 or 2.5) For those who are Malaysians or married to one, then they may use 2.4 to calculate.

Assuming 80% loan, the following applies:

For a 500k property, one must prepare at least 20%, meaning about 100k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 30,000 MYR (Ringgit) - Meaning one needs at least 130,000 MYR (Ringgit) to be on the safe side.

For a 700k property, one must prepare at least 20%, meaning about 140k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 3-40,000 MYR (Ringgit) - Meaning one needs at least 180,000 MYR (Ringgit) to be on the safe side.

For a 900k property, one must prepare at least 20%, meaning about 180k MYR (Ringgit). This is not inclusive of any stamp duty, levy or legal fees.
Added on, It can go up to another 3-40,000 MYR (Ringgit) - Meaning one needs at least 210,000 MYR (Ringgit) to be on the safe side.

Ones monthly loan for a house should be at a maximum of 1/3 of ones monthly income. For someone to service a monthly loan of 3000 MYR for example, their combined income (couple) should be 10,000 MYR monthly.

This is as we have bros who come in and ask around but we tried to help them with the loans for Nusa Sentral, Nusa Duta etc but most got rejected. Its fine if one does not have enough but when we suggested to help them get a smaller house, they scoff at us and said they are rich but somehow most banks reject them. Tried your best to help them but the banks just don't accept them.

Then one said they will buy 2 or more if we can get banks to approve 90% for each of the house and suggested we can do under the table. Straightaway told my bro to say no as too much risks involved.

We even have people who haughtily said, Malaysia, for 100k MYR i still get me at least 1-2 houses, don't bluff old Uncle ok. I am sure 500 SGD, i can place deposit for a subsale or place for one in EL/HH already.

Yes, really encountered some like that, now i know how some banks feel.

Hi bro wuqi, this is a very useful guideline.
Do you know other than "salary", what other ways can boost your loan margin?
eg fixed asset, equity, rental income?

Just to share a bit of my experience when purchasing paragon.
I heard public bank can give loan margin of 90%
HSBC and Maybank quote me 80%
OCBC quote me 70%.

So my conclusion is that I have is that banks in Malaysia have their own unique standard to do their client credit assessment....
Moral of the story. Apply to multiple banks!!