Ok when my dramas are finished in this fucked up country we have looked at relocating to JB/KL/Penang. How can there not be an oversupply of high end condos there ... You do a search and there are thousands and thousands on sites like iproperty, many of which have been vacant a long time. To buy they are overpriced, surely to rent and use your money on other things is more lucrative. To highlight do a search on iproperty for 3 bedroom or more condos in KL between 3000 Nd 8000 rm and over 1700 sqf there are something like 8000 and for all properties in KL so etching like 40,000 (all high end). Surely malaysia property is a massive bubble ??
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JB & KL real estate
- Thread starter mulvi74
- Start date
there may be thousands of listings for sale or rent, but don't forget there are also thousands of people looking to buy or rent.
anyway, fyi, many of the ads are fake, and many of the ads feature the pictures are not of the actual units. so one can't assume the property is the same one being advertised just by looking at the pictures. i felt that looking at newspaper listings are a lot more reliable. but you've hit the nail on the head as far as rental is concerned. you should RENT first and only buy when you really really like the area/location/property.
anyway, fyi, many of the ads are fake, and many of the ads feature the pictures are not of the actual units. so one can't assume the property is the same one being advertised just by looking at the pictures. i felt that looking at newspaper listings are a lot more reliable. but you've hit the nail on the head as far as rental is concerned. you should RENT first and only buy when you really really like the area/location/property.
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that's right. and 30-40% is fake listing.
Ok so take Penang and KL these condos can only be afforded by very few locals so mainly expats and there ain't that many to satisfy the demand. I'm not talking high high end (10000RM plus) just between 3000 and 8000 ish and the listings are negotiable on rent. If you offered them 12 months up front you would probably get 20% discount at least. I'm not even talking link houses, villas etc. These condos must be a terrible investment with poor yields, especially areas like mont kiara say
Unlike many countries where people prefer to rent than buy, Malaysia is unique. There are only 2 type of buyers, owner occupied or flippers. There's no many of those who invest and hope for high yield.
People buy and keep for capital appreciation. If they can rent it out, that is the bonus to help in mortgage repayments. If not, they just keep it whether it is kinda savings, holiday home or leave it for their children. They know if they sell now, they won't buy back at same terms and price. Somehow, mortgage repayments are made on time. That's why you do not find many auctions around on default units.
If you are looking to buy and rent for immediate high yield, properties in Malaysia is not suitable. If you had invested some 10 years ago, then it is viable. If you want to invest now, the boat had sailed.
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Penang and KL trend already very toppish.
Now only certain projects in JB still reasonably price.... but it will not be long when they start moving up again....
Especially the big China developers; they know how to adjust the price so that early buyers will see some paper profit.
Now only certain projects in JB still reasonably price.... but it will not be long when they start moving up again....
Especially the big China developers; they know how to adjust the price so that early buyers will see some paper profit.
In the long term, JB properties prices sure go up... just fast or slow only. JB has everything which Singapore don't have and will never have. Last time it takes 3 years to make 100% profits. Now it will take 5-10 years at least.
Buy for own weekend stay is the best. If market is good, rent or sell. If market is bad, stay for weekends. Afterall, JB is a super nice place to go for relaxation.
Buy for own weekend stay is the best. If market is good, rent or sell. If market is bad, stay for weekends. Afterall, JB is a super nice place to go for relaxation.
for the sub 1m condo,MK rental market is reasonably robust IF you choose the right condo. yields is bad now, that is true (about 4%). but it's because MK condos (similar to bangsar ones) have appreciated 20% from 3-4 years ago. i have a friend who bot a 3 bed pelangi unit a few years back @ 650k rm , currently rented at 3.5k pm. that's actually pretty decent , enough to cover her mortgage. and of course, i have another childhood friend who's already retired, just collecting rental from her student rental properties in stapak side. but for now - rental yield is poorer than what it used to be.
the big units (>2000sft) at MK however is a different story. heard that mk10 , 11 and 28 struggling. but damai appears to still be popular.
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