That would cost much more, at least rm1 mil... He is talking about letting the lower middle class in Sg fulfill their condo dream in Iskandar....they can eventually rent out their HDB and retire with passive income in a JB condo...
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Medini (Nusajaya) Community
- Thread starter xxkiwi
- Start date
That would cost much more, at least rm1 mil... He is talking about letting the lower middle class in Sg fulfill their condo dream in Iskandar....they can eventually rent out their HDB and retire with passive income in a JB condo...
Yes, most condos of today in SG are overrated. Till today, I can't understand why those who move from HDB flats to condos are often reported in the papers as "upgraders". To me, it's actually a downgrade if you think carefully enough.
In addition to being crowded, many residents don't really use the facilities often. And they are not for free. Residents got to pay a few hundred $ every month. Condos are also much more expensive than HDB flats. Buyers incur heftier debts and longer loan tenure. Surrounding landscaping may be nice but most just go into their homes after work and don't come out after that. Look outside of the window and condo owners may be looking at other nearby boring HDB flats, temple, main road, etc! It's the inside that matters! And most importantly, condos today are so tiny (eg: 3 bedroom at 850 sq ft with a large balcony vs HDB 5-room 1300 sq ft no space wastage). How can all these be an "upgrade"? Not sour grapes here, I myself have lived in a condo before.
Coming back to Medini, there is no more condo selling at RM500 psf. Those who bought at that price in 2012 are now trying to sell theirs at RM600+ psf with no buyers. The new ones released in 2013 and later are all close to RM800 psf and above. Some buyers misread this as capital appreciation. But it's not. It's developers who increased their prices artificially. If the early birds can't even sell below present market rate, you can imagine in years to come, how will those who bought theirs at much higher prices going to sell?
If bought at slightly more than S$100,000, it's easy to leave the property alone if there are no tenants or buyers. But most I believe paid about S$300k and above. That is quite a substantial amount. Even if one takes comfort that he can hold for 10 years, we all know future buyers will not be interested in old properties. Not in Johor at least. And what will become the state of the condo by then?
Yes, to buy for own use, one can choose to do anything. But I see only retirees who can do that. Given the place is so bare, they still need to drive out to get groceries, food and other amenities. I'm not sure how long they will stay put there. So I do predict Medini will be very deserted for many years (ghost town) or it's like a "retirement village" where mainly a small handful of retirees will stay.
Investment-wise, it's going to be very tough. Even some prominent Malaysian people I spoke to in property talks don't dare give me their direct views on Medini. On the one hand they got to sell or promote Iskandar properties there. On the other hand, I could tell they feel uneasy about saying it's appropriate for investment.
"Buy for own stay" is a very common phrase we have all heard. That's the best that most can advise. However, not many can do that.
As for using it as "weekend home", I really don't think it will work out for long. Is it worth it to drive to and fro every week just to go for a swim or use other facilities?! If one wants to go shopping, just drive from SG to Johor and back. You don't need to stay there.
There are always some lobangs if you look hard enough. But strangely I find a lot more freehold condos nearby that sell at around $400 psf. So I believe the prices are still negotiable.
http://www.propertyguru.com.my/prop...r-sale-by-tk-chua-19992332?ref=ls|normal|17|4
http://www.propertyguru.com.my/prop...oshimitsu-shimada-22666697?ref=ls|normal|21|4
http://www.propertyguru.com.my/prop...r-sale-by-tk-chua-19992332?ref=ls|normal|17|4
http://www.propertyguru.com.my/prop...oshimitsu-shimada-22666697?ref=ls|normal|21|4
The Korean cosmetics company obviously never read this forum. Still want to invest. Tsk Tsk...
http://www.thestar.com.my/business/...-sunrise-sells-land-to-s-koreas-amorepacific/
http://www.thestar.com.my/business/...-sunrise-sells-land-to-s-koreas-amorepacific/
Probably desperate sellers. But not yet desperate enough!
At RM520-572 psf, they are still selling slightly higher than the prices they bought. No takers.
Imagine those who came in later and bought closer to RM800 psf. How to compete with those earlier buyers who already can't re-sell!
Those freehold ones are not in Medini. But yes, for serious buyers, especially Malaysians, they'll look for much cheaper ones. But seriously, till today, I have no information or heard or people buying Johor condos on the resale market. Rent as tenants, yes... Or buy resale semi-D houses.
$800 psf is truly at the high side in Medini as the developers have creamed off most of the potential capital appreciation for the next 20 years. There are also some developers in Medini who are stuck as they join in too late (see appended link below). A few lucky developers in Singapore and China managed to pull out of their land purchase agreements in Iskandar. It is rather surprising to me that Medini is actually a freehold land held by Iskandar Investment (IIB) that has leased out its land at 99 years and 128 years. Hence lease renewal may be expensive as IIB does not need to fulfill a social obligation to house the people. Buyers should treat their Medini properties as strictly for self-consumption rather than investment.
Some Medini home buyers pull out of contracts
http://www.straitstimes.com/business/some-medini-home-buyers-pull-out-of-contracts
Yes, Medini prices have already factored in the capital appreciation for the next 15-20 years. And by then, the condos will be so old it's questionable if there are still people who want them.
All these condos are for foreigners to play with. Local Malaysians won't touch them. RM200-400 psf is their usual limit. I think the developers probably would have made some decent profits even if they can sell only 70-80% of all the units in their projects?
Those buyers who pulled out must be very relieved now. But the guy interviewed in the article is very hopeful about Medini. He said it will "overtake JB city". Not sure about that. Maybe 40-50 years time?! By then, most of us won't be around.
I think most bought Medini condos to invest rather than to stay there. At such high prices of RM800 psf, why buy a small condo rather than a landed house? Not many of the foreign investors (eg Singaporeans) can easily travel to Medini and yet work in SG.
We might just see many empty units once all these condos are completed. It's already happening.
Last edited:
Medini no choice. All non-freehold. But at least, every buyer is subject to the same rule. So no one has advantage or disadvantage over the other within the same area.
Good thing is buyers are not subject to the RM1mil rule for foreigners. No RPGT also.
Medini also slated to be the next CBD of Iskandar Puteri and near HSR. But how all these will come together to make the place vibrant is another thing. I don't think it will be so soon. Will take a very long time. So those who buy for the sake of investment, money could be stuck there. Better switch to other plans if possible.
One thing Sg buyer must understand is this, Malaysia is a 'slow-motion' country. So 99-leasehold in Sg vs 99-leasehold in Malaysia are totally 2 things. For example, all these projects would take very long time to plan, discuss, and execute. So by the time they complete, may not many years left. Local Malaysian are negative condo, negative 99-leasehold, more so negative less-than-99-leasehold.
Singapore's Temasek unit buys Malaysia's Aurum
PETALING JAYA: Technology and engineering firm Accuron Technologies Ltd, a unit of Temasek Holdings (Pte) Ltd, has acquired a majority stake in medical devices maker Aurum Healthcare Sdn Bhd, according to Singapore’s Straits Times.
It was reported that this was the sixth medical technology-related deal for Accuron Medtech Group, a division within Accuron Technologies, in the last 2½ years.
Accuron Technologies, on announcing the deal yesterday, said in the report that its medtech division was set up to take advantage of opportunities in the global medtech market, which is projected to reach US$537bil by 2020.
The Straits Times quoted Accuron Technologies as saying that Asia Pacific was the fastest-growing region and is forecast to become the second-largest market for medtech at US$133bil by 2020.
“Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the United States, Europe, China, Japan and Singapore.
“By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies,” said Accuron Medtech group chief executive officer Abel Ang.
The report also said that Accuron Medtech would place Aurum under Advanced Materials Technologies (AMT), its Singapore-based contract manufacturing partner.
The acquisition is said to increase AMT’s manufacturing footprint from its current 120,000 sq ft of facilities located in Tuas, Singapore, and Dongguan City, China, to include Aurum’s 20,000-sq-ft facility at the Setia Business Park in Johor Baru.
The Straits Times also said that Aurum’s facility could provide sterilisation services for medical devices and instruments as well as clean room manufacturing and assembly services.
AMT is said to specialise in metal injection moulding and 3D metal printing for high precision and complex metal parts used in the medical device sector such as the metal components found in endoscopes and robotic surgery instruments.
The addition of Aurum’s capabilities meant that AMT will expand its original equipment manufacturer expertise to include manufacturing of plastic medical consumables such as those used in heart bypass, catheterisation or angiography procedures, according to the report.
I have a small unit at 1 Medini but don't intend to move in even though its fully furnished and renovated already. Rental is too low plus it incurs income tax and is not worth the trouble in my view. So am keeping it as a weekend retreat for family. Getting a cheap Malaysian plate car to keep there, intend to do day trips around Johor or Melaka now and then for nice food....
Are they really negative condo? I used to hear that also. But lately, I was told the younger generation are slowly moving to condos rather than landed properties.
As for leasehold, say a developer takes 5 years to finish building a condo project. When it is completed, there should still be 99-5 = 93 years of lease left. That's still considered a lot right? Some condos even extended it by 30 years or 99+30 = 129 years. Not sure if there is any added advantage to this. I think it's all psychological? Since Johor has lots of land, Malaysians generally don't prefer leasehold. I'm just guessing....
people working on getting more visibility on iskandar puteri.
http://www.nst.com.my/news/2016/07/157811/world-class-triathletes-compete-johor-next-month
http://www.nst.com.my/news/2016/07/157811/world-class-triathletes-compete-johor-next-month
Sounds good.
Do you all think in future, Iskandar Puteri can become like Singapore's Shenton Way?
This photo scared the hell out of any season property investor.
All I see is endless land.........
All I see is endless land.........
Bird's eye view of Medini.
Ya man.... Can tell you're definitely not invested in Medini!
It will take decades for the place to move. Some Medini buyers cheer at the slightest news. Like WOW.. The well-known China company Huawei is there! WOW.... Pinewood Studio (UK version of Hollywood) is ALREADY there. WOW... some MNC/Korean or Japanese company will be there...WOW... more foreign universities will be going there.
But all of them added together are just like a drop of water in the ocean. The reason is that, if you look at the overall land available in the western part, i.e. Flagship B of Iskandar, you will see there are indeed tons and tons of space available. Some of the big names have either pulled out and went elsewhere (developer UEM Sunrise was one of them), stopped building (Singapore's Capitaland, Malaysian developer WCT, etc) or completely changed strategy (billionaire Peter Lim).
From 2006 till 2010, it's been 10 long years. But the authorities only managed to get the roads up, and people keep talking about Legoland, Pinewood Studio and Educity as the "catalytic" development. Truth be told, their influence on Medini is not greatly felt. I think it's been overemphasised.
For a place to boom, I would expect 10 years to bring in a lot more population, create a lot more value-added jobs, a lot more big big companies settled down. But we're not seeing that. Furthermore, we have a RM currency that is going down with the bad press of 1MDB.
So if things continue at this pace, I think you will probably need at least another 30 years to have things moving. That's too long a time frame for property investment.
I no longer buying in Malaysia. Now my radar is moving elsewhere. (take note)
Small investors like us, prefer to play on level field. (I am only interested in zone A. Period)
No point playing in a field while other pay 1 cent, and we pay a dollar.
Alot of plantation owners are conned to sold land at penny in JB. those land are worthless and sold to unaware investors for a king ransom.
just beware, we singaporeans are a stupid bunch. worldwide recognised.
A big corporation bought a piece at billion does not mean anything, they may be as dumb as us.
Small investors like us, prefer to play on level field. (I am only interested in zone A. Period)
No point playing in a field while other pay 1 cent, and we pay a dollar.
Alot of plantation owners are conned to sold land at penny in JB. those land are worthless and sold to unaware investors for a king ransom.
just beware, we singaporeans are a stupid bunch. worldwide recognised.
A big corporation bought a piece at billion does not mean anything, they may be as dumb as us.
Ya man.... Can tell you're definitely not invested in Medini!
It will take decades for the place to move. Some Medini buyers cheer at the slightest news. Like WOW.. The well-known China company Huawei is there! WOW.... Pinewood Studio (UK version of Hollywood) is ALREADY there. WOW... some MNC/Korean or Japanese company will be there...WOW... more foreign universities will be going there.
But all of them added together are just like a drop of water in the ocean. The reason is that, if you look at the overall land available in the western part, i.e. Flagship B of Iskandar, you will see there are indeed tons and tons of space available. Some of the big names have either pulled out and went elsewhere (developer UEM Sunrise was one of them), stopped building (Singapore's Capitaland, Malaysian developer WCT, etc) or completely changed strategy (billionaire Peter Lim).
From 2006 till 2010, it's been 10 long years. But the authorities only managed to get the roads up, and people keep talking about Legoland, Pinewood Studio and Educity as the "catalytic" development. Truth be told, their influence on Medini is not greatly felt. I think it's been overemphasised.
For a place to boom, I would expect 10 years to bring in a lot more population, create a lot more value-added jobs, a lot more big big companies settled down. But we're not seeing that. Furthermore, we have a RM currency that is going down with the bad press of 1MDB.
So if things continue at this pace, I think you will probably need at least another 30 years to have things moving. That's too long a time frame for property investment.
Last edited:
Similar threads
