Property News

winners said:

My greatest fear is the manipulation by Chinese speculators. It has already happened in KL. Those bloody corrupted rich Chinese will come and speculate in the property market. They are so damned rich that they can even buy the whole floor of apartments and cause speculation to set in so that the prices will artificially be inflated. Once they deem it is the right time to let go, those suckers who had bought from them will eventually regret.

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Yes indeed. It has already happened. It started with Country Garden Danga Bay. I remember I was at the show flat and there were agents swarming all over. They said if I wanted good view, high floor units, he/she had China buyers willing to let go for an extra RM25-50k that I had to pay.

I was initially puzzled and asked how come they got this advantage. I later learned many of the units had already been pre-booked by their Chinese buyers in China before the project was released in Singapore/JB. And I know there were many Singaporean buyers who fell into the trap and did pay the extra money to secure their "sea view" unit (just water, not sea la!)

Same goes for Medini condos. Malaysians I spoke with all told me RM500 psf is too much. RM700+ psf is absurd, and RM1000+ psf? Crazy. All these prices are jacked up by the greedy developers when they saw the buying frenzy in 2013.

That's why now the condos are building so slowly or even delayed as new investors realize there was little basis for such huge price increases. The early buyers of a completed condo in Medini can't even rent out or sell now. Who knows what will happen when all the stocks are ready in 1-2 years time.

What actually happened to Kemayan Complex??

Artist impression:


Now:

mpan12 said:

What actually happened to Kemayan Complex??

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Abandoned project. Not surprising especially when it was the 2007/08 Financial Crisis at that time.

winners said:

My greatest fear is the manipulation by Chinese speculators. It has already happened in KL. Those bloody corrupted rich Chinese will come and speculate in the property market. They are so damned rich with their ill-gotten gains that they can even buy the whole floor of apartments and cause speculation to set in so that the prices will artificially be inflated. Once they deem it is the right time to let go, those suckers who will buy from them will eventually regret.

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Don't worry Malaysians are not stupid. You see all the new developments, only dumb Sinkies rush in. To the Malaysians, they know they have lots of land and prices are very low.

winners said:

Still cannot compare to what is available in Bukit Indah, Perling and Nusa Bestari have to offer.

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Bt Indah etc do not have the marina and seaviews of PH...

winners said:

Abandoned project. Not surprising especially when it was the 2007/08 Financial Crisis at that time.

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More like empty promises and delusions of Grandeur, lousy location with no real demand, that's why abandon. Typical of many Johor developments who Singaporeans willing to put their whole life savings into for an empty dream.

cybermad said:

Bt Indah etc do not have the marina and seaviews of PH...

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I won't call that seaviews. At the narrowest point in Puteri Harbor, you can even see what the opposite fellow in Lim Chu Kang is wearing without the need of a pair of binoculars. It's barely 100m across I estimate. You can even just talk a little louder and the other end can hear you clearly, especially in the quiet environment when the SAF is not conducting their regular exercises. Of course the kiasu Singapore Government has its coast all fenced up in that area, and probably electrified as well, coupled with all the CCTVs.....

winners said:

I won't call that seaviews. At the narrowest point in Puteri Harbor, you can even see what the opposite fellow in Lim Chu Kang is wearing without the need of a pair of binoculars. It's barely 100m across I estimate. You can even just talk a little louder and the other end can hear you clearly, especially in the quiet environment when the SAF is not conducting their regular exercises. Of course the kiasu Singapore Government has its coast all fenced up in that area, and probably electrified as well, coupled with all the CCTVs.....

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Singaporeans do not know what true seaviews are, my definition of seaviews is just one line of horizon where the land meets the ocean.

Well anyway what to do? They are sheltered people where properties near canals are called lake views and they buy it....LOL!

Actually, strictly speaking, it's often misused term for "seaview". It's more of a "Straits" or a body of water.

Ok, having said that, Puteri Harbour is one of the few areas in the western side of Johor when one can see water, if you like that. In SG, people often only see concrete blocks.

xebay11 said:

Don't worry Malaysians are not stupid. You see all the new developments, only dumb Sinkies rush in. To the Malaysians, they know they have lots of land and prices are very low.

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You should buy a condo unit in Medini. Future CBD, government offices, many universities, a well-established hospital, Legoland, more offices, industrial area, Pinewood Studio (British version of Hollywood). Many businesses are relocating there. Huawei will be there. Big company. HSR stop fairly close by.

Buy for the future. Sure Huat!

mpan12 said:

You should buy a condo unit in Medini. Future CBD, government offices, many universities, a well-established hospital, Legoland, more offices, industrial area, Pinewood Studio (British version of Hollywood). Many businesses are relocating there. Huawei will be there. Big company. HSR stop fairly close by.

Buy for the future. Sure Huat!

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Ha ha ha ha ROTFLMAO

xebay11 said:

Ha ha ha ha ROTFLMAO

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Why??? You don't believe ah? No minimum RM1mil rule for foreigners some more. Many sold out units!

winners said:

I won't call that seaviews. At the narrowest point in Puteri Harbor, you can even see what the opposite fellow in Lim Chu Kang is wearing without the need of a pair of binoculars. It's barely 100m across I estimate. You can even just talk a little louder and the other end can hear you clearly, especially in the quiet environment when the SAF is not conducting their regular exercises. Of course the kiasu Singapore Government has its coast all fenced up in that area, and probably electrified as well, coupled with all the CCTVs.....

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ya I know there is a diff but usually pple will just say seaview as long as it's a water body that look like sea. Nobody will be so anal to say I hv a straits view condo la..anyway, the winning points for PH is mainly the marinas and CIQ .

mpan12 said:

Why??? You don't believe ah? No minimum RM1mil rule for foreigners some more. Many sold out units!

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OK OK I go buy....... lol

mpan12 said:

Ｉ really think this is a bad idea. Foreign buyers and investors may soon be very cautious about buying properties there. Those that have bought less than RM1mil were caught unexpectedly and may be stuck with their properties.

This will also give developers the motivation to overprice their properties for foreigners like what they are doing now. Foreigners are buying only because they are comparing to SG property prices and think the JB properties are cheap. Actually, it's not so to the locals. The great disparity in pricing is already there and locals will avoid all this "niche" market meant for foreigners.

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Hmmm....In a sense I would be considered quite lucky to be caught buying JB properties when it was still before one million requirement. Can't imagine buying above RM2 million and kena stuck? ;p

mpan12 said:

Actually, strictly speaking, it's often misused term for "seaview". It's more of a "Straits" or a body of water.

Ok, having said that, Puteri Harbour is one of the few areas in the western side of Johor when one can see water, if you like that. In SG, people often only see concrete blocks.

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Back in Singapore my HDB was near a big canal, water flow to the sea...so in a sense is "waterfront" living. Now in JB my house also near to long kang, but I don't know where the water goes to. But when it rains heavy the water flow like rapids. That's my "waterfront" living too. LOL!

Frodo said:

Back in Singapore my HDB was near a big canal, water flow to the sea...so in a sense is "waterfront" living. Now in JB my house also near to long kang, but I don't know where the water goes to. But when it rains heavy the water flow like rapids. That's my "waterfront" living too. LOL!

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Haha....

Singaporeans generally easy to kena bluff, that's why. I know what you mean...

I've seen residential estates in front of long kang or small river... as long as got some kind of water.. they call the condo or HDB "RIVER something".... and they justify the higher price!

Frodo said:

Hmmm....In a sense I would be considered quite lucky to be caught buying JB properties when it was still before one million requirement. Can't imagine buying above RM2 million and kena stuck? ;p

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I don't see it that way. It means you can't sell your house to another foreigner if the price is less than RM2mil. So you're already stuck?

Is the minimum RM2mil for foreigners already implemented for landed houses?

Medini owners thought they are damn lucky to be exempted from this. But when you consider that the prices they paid for their condos are already highly marked up, that in a way already limits them on who they can sell to next time. Malaysians won't be interested. And new foreign buyers would likely prefer to buy newer projects than resale ones, given so much land available and a large stock of new condos in the pipeline. So Medini owners are stuck in that sense too.

mpan12 said:

I don't see it that way. It means you can't sell your house to another foreigner if the price is less than RM2mil. So you're already stuck?

Is the minimum RM2mil for foreigners already implemented for landed houses?

Medini owners thought they are damn lucky to be exempted from this. But when you consider that the prices they paid for their condos are already highly marked up, that in a way already limits them on who they can sell to next time. Malaysians won't be interested. And new foreign buyers would likely prefer to buy newer projects than resale ones, given so much land available and a large stock of new condos in the pipeline. So Medini owners are stuck in that sense too.

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If they really implement the RM2m rule for landed properties, then Johor becomes not worth to invest in already as you can get quite a good house in OZ for that kind of money.

xebay11 said:

If they really implement the RM2m rule for landed properties, then Johor becomes not worth to invest in already as you can get quite a good house in OZ for that kind of money.

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I suspect the Msian govt is trying to retain their capital in the country by restricting the foreigners' money.

Those who bought Iskandar condos back in 2013 between RM500k to RM1mil now all jia lat. Quite impossible to sell off. They just contributed to the Msian economy for free. And nobody knows what other policies the Msian govt can implement in future.