With rm 1 million I can rent forever in JB. Change house every 2 years and get out anytime.
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Living in JB 3 (Johore)
- Thread starter wuqi256
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With rm 1 million I can rent forever in JB. Change house every 2 years and get out anytime.
Assuming JB's and SG's economy, hence the exchange rate remain status quo, and with some inflation you can rent for about 30 years. The owner will then chase you out, and won't even thank you for paying for his house (if you rent the same house). It is better to own the roof over your head.
Yes, generally, it is better to buy your own house than to rent. In the long term, you can get capital appreciation (especially for those in good locations) and also not having to pay rental, which is a recurring cost.
The only good reason to rent is if you know that your nature of work calls for frequent change of locations every few years. My personal opinion.
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In Singapore, you can still choose and pick. Get those better expatriate tenants. I'll never allow Chinks nor Indians as my tenants. I'd rather wait. 1 of my neighbors and also 1 of my brother's neighbors, had rented out their units to Chinks, who subsequently partitioned their units and sub-leased to more Chinks. Believe it or not, even the bomb shelter is not forsaken but also being sub-leased!!! Eventually, they were evicted with their deposits forfeited.
In Johor, there are not many expatriate tenants although I do see more ang mohs in the Bukit Indah vicinity lately, definitely from those universities and hospitals. I'd once spoke to a Briton in TESCO Bukit Indah who is here for a 2-year contract with a university in Edu-City. Otherwise, if you get Malaysian tenants, most are non complying and some have even absconded, like my 2 neighbors had experienced. They even had to pay for their utility (TNB and SAJ) bills eventually, in excess of their deposits. In Malaysia, the utility companies will go after the house owner for all unpaid bills, unlike in Singapore, where the PUB goes after the account holder instead.
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I can vouch for this owning to let strategy. You will gain in the long term. Accumulation is the key. Resell to reap profits within 5 years is not the main focus. You need to get in at the lowest point as far as you can see. (Note there's no such thing as bottom)
But even if you got in at a high point, over a long run, you stll do not lose.
I am talking from my own experience.
Buying property is a common strategy for hedging against inflation. Your rent is likely to rise over time due to inflation, your installments remain static.
It is good to catch xebay11 aka 2.6M dollars man:p this type of tenant, otherwise, you have to check constantly n quietly. pinoy and cheapo tenantss are out of list, as i got them w an unknown occupant, and spent days to remove oily bbq stains..kao.
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Problem is, some of us do not have RM1 million dollars WITH us at any one time at our disposal. Well, at least I don't. Never had. Not sure if ever would either.
The ones saying they would rather rent than buy are just giving a comparison. They won't rent.
It does not make sense to invest in JB for pure financial gains for a time horizon of 5-10 years from now.
Beyond that, hopefully JB's economy will grow and able to support higher rental and capital appreciation.
The last factor is government policy, which is a wild card.
It does not make sense to invest in JB for pure financial gains for a time horizon of 5-10 years from now.
Beyond that, hopefully JB's economy will grow and able to support higher rental and capital appreciation.
The last factor is government policy, which is a wild card.
In 20-30 years, malaysian populations would increase to some 40-50 millions plus. It is not likely you could get an average house now at the price of 20-30 years ago. Most house prices have gone up multiple times in the last 20-30 years in Malaysia(of course there are exceptions)
From Johor's latest population statistics:
https://www.statistics.gov.my/index.php?r=column/cone&menu_id=d1dTR0JMK2hUUUFnTnp5WUR2d3VBQT09
2012 was 3.45 mil
2015 was 3.55 mil
Average 4 years population growth = 100,000
Population growth per year = 100,000/4 = 25,000
Assuming 4 pax per family, number of new houses needed is 25,000/4 = 6,250
Possibly 75% are looking for landed and 25% are looking for condos (estimated based on my reading of Propertyguru's surveys): 4,700 new landed and 1,550 new condos approximately are needed each year
Given that new landed launches are in the range of 2,000 units per year (my estimate), you can see where the price pressure is building. For condos, the supply is there to meet the demand but the developers tend to buy the land at high costs. The Woodlands checkpoint condos supply (note: 0 new landed supply there) is sufficient at the moment, but the entry price is very high.
Sinkie or should i say monkey like you are stuck here aka sinkieland for good. Not welcome in Bolehland.
To hedge this, I would rather buy a property in Singapore, enjoy the 2 plus % interest rate, rent it out here and rent in Johor, where the owner is paying 4 plus % in loan interest over there. You still have a roof over your head in Singapore, so what is the issue?
Got money everywhere also welcome....so many "investors" here are desperate and looking for tenants, so dun talk through your axx.
Isn't that what I was saying all along? I say until I broken record liao.
haiz...peasants like me are out of the property game in Singapore. How to afford a $1.3m condo in Singapore?
Your Hyundai Starex + 2 properties in JB + HDB in Singapore = S$1.3m condo in Singapore + retirement money.........
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