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Setia Sky 88 community
- Thread starter Investor
- Start date
Re: Setia Sky 88 - April 2016 from Twin Galaxy
Yes, because new one easier to get loan, and developer also give freebies. That's why you see resale unit price are low compared to new ones.
Yes, because new one easier to get loan, and developer also give freebies. That's why you see resale unit price are low compared to new ones.
Re: Setia Sky 88 - April 2016 from Twin Galaxy
Thanks for confirming.
Strange that the banks have such a rule. They are not encouraging buyers to buy older condos in Johor. In an oversupply market, it will be much more difficult for owners of older condos to sell off because new buyers may not get their loans?
Maybe Johor condos are less appealing as they age. Heard all sorts of stories like condo management changing several times, maintenance not properly carried out, etc. So if the banks need to auction them off, it may be more difficult finding new buyers.
Just guessing....
Thanks for confirming.
Strange that the banks have such a rule. They are not encouraging buyers to buy older condos in Johor. In an oversupply market, it will be much more difficult for owners of older condos to sell off because new buyers may not get their loans?
Maybe Johor condos are less appealing as they age. Heard all sorts of stories like condo management changing several times, maintenance not properly carried out, etc. So if the banks need to auction them off, it may be more difficult finding new buyers.
Just guessing....
Re: Setia Sky 88 - April 2016 from Twin Galaxy
I think one reason is that developer takes loan from bank.
I think one reason is that developer takes loan from bank.
errr, i think this was stated right from the beginning. Sky 88 and most JB City condos have this.
Stated where? in an agreement or contract? or just verbal.
How is the take-up rate of Twin Galaxy? Have many already moved in?
Out of curiosity, I went to their website. The design and view from there look nice!
Check it out here:
http://www.twingalaxy.com.my/usr/
Out of curiosity, I went to their website. The design and view from there look nice!
Check it out here:
http://www.twingalaxy.com.my/usr/
Is nice on the website. However, already around 50 owners wanted to dump their units at propertyguru. I doubt anyone will buy it too.
Contractual agreement, some have free for 2 years, some more.
Oh... so many want to dump. Maybe they are property flippers?
What's the main issue with Twin Galaxy?
I think for JB condos, owners should be prepared to keep or if desperate, can go into loan default? If they don't stay there, it will just be white elephant. No choice. Don't think sales will move, especially now.
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How about SEtia Sky88?
The worst part is, the flippers wanted to sell the 2 rooms units at around RM680K at Twin Galaxy! I wonder who will be so stupid to buy it at that ridiculous price.
Actually, for those who have bought condos in the newer parts of Johor, it can be even more expensive! RM760-1000 psf.
Do you know how much the buyers of Twin Galaxy bought their units for?
For the 2 rooms units after discount is less than RM500k during launching. For studio is around RM363K.
Based on the past 3 years' launches, that's considered cheap liao!
But I don't know if there will be a market for such condos now.
Anyway, I think the price increase has nothing to do with real demand. It's the developers who pull the prices up artificially. Won't be able to sustain in the long run, IMHO.
Cheap? The owner will consider lucky now , if they can find a buyer based on their launching price.
Very hard or impossible to sell. No foreign buyer support below RM1mil. Malaysians also won't buy.
What happened during launch? Buyers affected by herd mentality and all rushed in to buy?
The issue is not with Twin Galaxy, dear.
The issue is for all the recent development, a high percentage of buyers are "investors", hoping and wishing to make some money from it soon.
The bigger issue is most "investors" are small timers with limited financial resources and has limited holding power.
The biggest issue now is the market had already turned, 3 years later, you can still buy direct from those developers while hundreds of newly completed units are available in the resale market, direct competing.
Later you'll see sellers from the Danga Day and City area fiercely competing with those within the western cluster in Medini, Nusajaya, Puteri Harbor area.
If all buyers are for self stay, there will be no issue at all, got it?
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Thanks, my Love....
Ya.. I know all the above.
But since the topic of Twin Galaxy and Setia88 came up, I thought maybe there are some issues with them as Relaxman mentioned.
I think those investors only realized the reality about the general oversupply issue and high prices for recently launched condos in Johor after they had bought them. Indeed, the competition in the market will be very great for years to come. Self-stay is not so simple, especially those with strict working hours and families with kids in Singapore.
Maybe in 10 years time, the Johor Sultan will call for a JoExit referendum and join with Singapore.
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