Iskandar Residences @ Medini

snowbird said:

Suggesting to keep that "Expensive Holiday Home" must be the dumbest idea of the year.
You can have a wide selection to stay in many of the "luxurious apartment or bungalow" all over JB for a tiny little fraction of that cost and you can choose to stay at different unit in different area each time.
But first, how many days of holidays you can afford to spend there?
Perhaps 2 to 3 weeks the most so why bother to spend so much time (you need to spend time to upkeep it) and money on a piece of property for this purpose??
Now, one can stay in many of those newly completed apartments or landed properties for as low as S$35.00 per day.
A 4 bedroom "luxuriously furnished" apartment near the LEGOLAND is only asking for about $120.00 per day!
Go check the AIRBNB for more info!

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Tekkun's perspective is always different because he is a Malaysian citizen. From a foreigner's perspective, I totally agree with you and is what I was saying all along, here. If die die must buy, get a landed home.

snowbird said:

Suggesting to keep that "Expensive Holiday Home" must be the dumbest idea of the year.
You can have a wide selection to stay in many of the "luxurious apartment or bungalow" all over JB for a tiny little fraction of that cost and you can choose to stay at different unit in different area each time.
But first, how many days of holidays you can afford to spend there?
Perhaps 2 to 3 weeks the most so why bother to spend so much time (you need to spend time to upkeep it) and money on a piece of property for this purpose??
Now, one can stay in many of those newly completed apartments or landed properties for as low as S$35.00 per day.
A 4 bedroom "luxuriously furnished" apartment near the LEGOLAND is only asking for about $120.00 per day!
Go check the AIRBNB for more info!

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Yes, I know what you mean. Actually, for about as little as S$70 a day, one can already stay in a fully furnished nice 2-bedroom condo.

But it's the feeling of ownership that perhaps makes one feel good? "I own a condo." Yes, no doubt it's in Johor but in Singapore, many commoners can't even say they own one.

Even for the upper middle class, they buy all those newly launched condos at what price... S$1400-1500 psf? And they get like a 3 bedroom at 850 sq ft. They feel proud but are in debt for at least another 20-30 years. That's extremely expensive and tiny condo where they have to squeeze 3 or 4 persons inside.

Frodo said:

Yes. that's the spirit! Enjoy your own condo as much as you can! Be more optimistic and look on the bright side. Who knows, in a few years time you would regret having ever regretted over the purchase of your condo unit.

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Thanks.

One question... Are you concerned that there is a possibility you may never be able to liquidate your condo? That is, sell for cash.

You may pass down to your kids next time but that's provided they are interested in it. Also, there seems to be talk that the condos kept for long turn old easily with maintenance issues.

now that Malaysia is attached by ISIS, any impact to property market?

sgcount said:

Thanks.

One question... Are you concerned that there is a possibility you may never be able to liquidate your condo? That is, sell for cash.

You may pass down to your kids next time but that's provided they are interested in it. Also, there seems to be talk that the condos kept for long turn old easily with maintenance issues.

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Actually I feel that with the continuing developments going on in Iskandar, it is still possible to sell off the condo in years to come and perhaps have a little profit. I bought mine in Zone A, not those Country Garden mass condo type, so maybe still got chance. But even if cannot also never mind, my children are already happily settled in JB living, so I do not see any problem with passing it to them. Anyway, any condo kept for long will have maintenance issue. I am hoping that since my is tied to KSL hotel operations, hopefully they won't let things slide. Fingers crossed!

sgcount said:

Yes, I know what you mean. Actually, for about as little as S$70 a day, one can already stay in a fully furnished nice 2-bedroom condo.

But it's the feeling of ownership that perhaps makes one feel good? "I own a condo." Yes, no doubt it's in Johor but in Singapore, many commoners can't even say they own one.

Even for the upper middle class, they buy all those newly launched condos at what price... S$1400-1500 psf? And they get like a 3 bedroom at 850 sq ft. They feel proud but are in debt for at least another 20-30 years. That's extremely expensive and tiny condo where they have to squeeze 3 or 4 persons inside.

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Indeed it is the sense of ownership that some of us want to have. And being able to do what cannot be done in Singapore. Perhaps the rich folks here cannot understand the heartbeat of the peasants here.

sgcount said:

Yes, I know what you mean. Actually, for about as little as S$70 a day, one can already stay in a fully furnished nice 2-bedroom condo.

But it's the feeling of ownership that perhaps makes one feel good? "I own a condo." Yes, no doubt it's in Johor but in Singapore, many commoners can't even say they own one.

Even for the upper middle class, they buy all those newly launched condos at what price... S$1400-1500 psf? And they get like a 3 bedroom at 850 sq ft. They feel proud but are in debt for at least another 20-30 years. That's extremely expensive and tiny condo where they have to squeeze 3 or 4 persons inside.

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But dear, that "Feel Good" factor comes with a hefty price tag!
Sometimes an out-of-the-box alternative comes very much cheaper.
However, as long as one can easily afford it, one can go one feeling good, feeling proud and having that great sense of satisfaction and achievement.

snowbird said:

But dear, that "Feel Good" factor comes with a hefty price tag!
Sometimes an out-of-the-box alternative comes very much cheaper.
However, as long as one can easily afford it, one can go one feeling good, feeling proud and having that great sense of satisfaction and achievement.

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Ha ha damn "expensive holiday homes" and "feel good" feeling.

snowbird said:

But dear, that "Feel Good" factor comes with a hefty price tag!
Sometimes an out-of-the-box alternative comes very much cheaper.
However, as long as one can easily afford it, one can go one feeling good, feeling proud and having that great sense of satisfaction and achievement.

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Does your ootb alternative involves ownership of property? Because if it does not, then it is pursuing different objectives.

xebay11 said:

Ha ha damn "expensive holiday homes" and "feel good" feeling.

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Which maybe to some people the shiok feeling that comes with the ownership is worth it.

Frodo said:

Does your ootb alternative involves ownership of property? Because if it does not, then it is pursuing different objectives.

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By now, we all have a good idea of who has a property to feel proud of and who doesn't have anything to show. LOL..
It is okie to feel this way..there's no short cut in life.

Tekkun said:

By now, we all have a good idea of who has a property to feel proud of and who doesn't have anything to show. LOL..
It is okie to feel this way..there's no short cut in life.

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At the end of the day, it is very likely the case that the decision to buy a property at a particular location is an emotional reason, not a cold hard facts rational one. For example, based on cost it would be a no brainer to take public transport, yet still many prefer to pay big money to own a car in SG.

To pay that kind of money just for a holiday home is definitely not wise. That money could have been put to better use with better returns. It must be either for investment (rent out) or own stay, since trying to find a buyer will most likely to end up in deficit. Those taking loans will feel even more painful. The above are my own opinions.

winners said:

To pay that kind of money just for a holiday home is definitely not wise. That money could have been put to better use with better returns. It must be either for investment (rent out) or own stay, since trying to find a buyer will most likely to end up in deficit. Those taking loans will feel even more painful. The above are my own opinions.

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Yup, agree! I think some like xebay11 and snowbird have already reiterated their similar views on this.

If I were in the same situation, as an investor, I have to be very strict in my objective. It's to make money. Nothing else. I cannot be swayed. Emotions will disrupt my aim.

So since I now realise I cannot rent out or sell, which means it's a certainly lose money investment with no clear indication of the situation improving, I will ditch the plan. That is, cut losses, build up my capital again and move on or wait for better investments.

How often will you go back to your "holiday home"? Initially you will be gung-ho and say "I will go back EVERY WEEKEND". But imagine every process. From driving there (or taking the bus), facing the traffic, queue, the time it takes to go and come back to SG, what you will do every week in your "holiday home", what you will miss or sacrifice doing in SG, etc. You want to travel 3 to 4 hours every weekend just so that you can swim in your Johor condo?! Come on....get real.

After a few times, the number of times you go back will drop drastically. Maybe at one point, you may even go back once every few months?

If you really want to enjoy the good life, use the money you save from not owning a Medini condo to sign up for some clubhouse or gym membership in SG. You can swim, eat, have fun to your heart's content. You can also take up some expensive massage package every year. I tell you after 20-30 years, you can't even finish using the money! For your Medini condo, after 10 years, nobody will buy from you. It will also likely be in a "koyak" state. Your precious S$300k is parked in Najib-land.

If you are a small time investor, S$250-300k is no small amount. I mentioned before it could be precious funds for your kids' university education (local or good ones overseas), safe investments for your own retirement, personal enjoyment, etc.

Some buyers have told me: "You don't seem to understand. HSR is coming. So many companies are going into Iskandar. How can my property not do well next time? Medini will BOOM!"

There are many misconceptions. Just consider these:

1. Johor is big. Land is everywhere. If you go around Medini in particular, you will see many uncleared trees and bare lands with no certain developments yet. Developers will always have itchy back sides. They never learn. More condos will be built. Iskandar Residences condo itself is not well-situated in Medini. Sorry I have to be frank here. Go there to convince yourself if you have bought it blindly.

2. HSR will not come tomorrow or 5 years' time. There are teething problems. It's a huge project. In the many years while waiting, are you making or losing money?

3. Companies want to set up in Iskandar clearly because of the lower costs compared to Singapore. Who are your possible tenants in such a big land with oversupply of properties? Obviously, they will also employ cheap workers. Likely Malaysians or for those China companies, their own Chinese guys.

You're looking at Abdullah Norhan or Fatima Kasim who graduated from some Tun Razak or Najib University earning RM3-4k a month working as an administrator or manager. Would they rent your 2-bedroom condo for RM2500 a month? I doubt so.

The Charles Smidt and alike, CEOs of MNCs, will stay in an exquisite 6,000 sq ft landed house with his ang mo wife and kids. Not normal condos.

4. If you are lucky enough, you may get S$500 a month from rental while your bank loan is S$1,200 a month (So you are actually losing money). Anyway, in 1 year, you only make S$6k. (We have not even factored in all other costs you will have to incur.) In 10 years, you make S$60k. Let's extrapolate further. In 20 years, you make only S$120k a year. It's not even half the condo price! Do you feel you can find a buyer for your leasehold condo in 20 years' time?

If you insist, buy it only if you have the cash to spare. Like no one questions a towkay his purchase of a S$100k watch, or S$300k Mercedes Benz. If you are dreaming to make money from an Iskandar condo, think carefully again.

Some will argue: "But Temasek went to invest in Iskandar also! How can the smart Singapore government be wrong?!"

Haha... They are property developers, not buyers like you! Did Ho Ching or Lee Hsien Loong buy condos there? They too want to make money from buyers. But they are not necessarily condo buyers themselves. Distinguish these 2 carefully. Even if they lose money, you do know they are of a different breed of people from you and me? They know how to get back the lost money in other ways.

Exactly. And one more 5 star hotel is ready in Iskandar puteri, who are the customers ?

http://www.thestar.com.my/metro/community/2016/07/05/boost-for-medical-tourism/

Manhattan said:

Exactly. And one more 5 star hotel is ready in Iskandar puteri, who are the customers ?

http://www.thestar.com.my/metro/community/2016/07/05/boost-for-medical-tourism/

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Hoteliers with tons of resources dare to commit hundreds of millions yet few of us who know thought we know about everything bitch about everthing. Yet, some did not even commit a single sen. Ironic, isn't it?

Tekkun said:

Hoteliers with tons of resources dare to commit hundreds of millions yet few of us who know thought we know about everything bitch about everthing. Yet, some did not even commit a single sen. Ironic, isn't it?

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Irony it is, even Temasek with tonnes of scholars doing research decided to buy into a medical company who has a 20,000 sft factory in Iskandar puteri. Few of us who are skeptical will sure say that's throwing good money away too.

http://www.thestar.com.my/business/business-news/2016/07/05/temasek-unit-buys-aurum/

All the multi-billions invested in Iskandar since 2007 by the multimillion or billion Companies are all DEAD WRONG.
They are all DOOMED. Iskandar has no future! Population will regress! All Infra will turn into Jungle/wasteland.

LOL. :p Selamat Hari Raya to all my Muslim friends.
Have a good day all.

eric3417 said:

All the multi-billions invested in Iskandar since 2007 by the multimillion or billion Companies are all DEAD WRONG.
They are all DOOMED. Iskandar has no future! Population will regress! All Infra will turn into Jungle/wasteland.

LOL. :p Selamat Hari Raya to all my Muslim friends.
Have a good day all.

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We are all doomed ...sob...sob.
It is end of the world....Iskandar will burn...there will be no takers for the condos in Medini.
Quick quick sell cheap cheap. Run before you get burnt!!

Stay safe in Singapore. Beware of bombs in MY.