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Princess Cove R&F
- Thread starter Highflyer
- Start date
Curious why till now the lower few floor structure is still not visible.
With the RM dropping about 25% from last year when the apartments were sold, what the developer collected or will be getting from progress payments had shrunk considerably in real money terms.
Watch closely on the pace of activities in the development.
Slow and steady wins the race......
Steady is ok but slow means trouble, the slower the bigger the trouble!
too many units. long queue to even get out from your condo units.
China firms may take a beating from forex losses
Slowdown in Johor property market likely to hurt them further
THE devaluation of the Yuan, coupled with the weakening ringgit against most currencies, is expected to saddle Chinese companies with foreign exchange (forex) losses as a result of huge US-dollar debts at a time when the Johor property market is slowing down.
This may impact the already-weak Johor property market, particularly Iskandar Malaysia where Chinese developers have most of their land.
http://www.thestar.com.my/Business/...y-take-a-beating-from-forex-losses/?style=biz
Slowdown in Johor property market likely to hurt them further
THE devaluation of the Yuan, coupled with the weakening ringgit against most currencies, is expected to saddle Chinese companies with foreign exchange (forex) losses as a result of huge US-dollar debts at a time when the Johor property market is slowing down.
This may impact the already-weak Johor property market, particularly Iskandar Malaysia where Chinese developers have most of their land.
http://www.thestar.com.my/Business/...y-take-a-beating-from-forex-losses/?style=biz
cant agree further... so where to invest now bro? any recommendation?
i know market is going down. it usually last only 3 quarters. that's why i want to look for opportunity to buy. . anyway new property will complete in 2 - 3 years time. by the time it is already in recovery period and price is chasing the sky again.
Better insure your dream apartment against developer abandoning the project mid way.
According to the same report here - http://www.thestar.com.my/Business/...y-take-a-beating-from-forex-losses/?style=biz
Apparently, the sales of the Chinese development in JB are not doing too good.
The Country Garden which was mentioned, was already in the market for more than 2 years now but was only able to sell 6,400 units out of 9,400 units launched.
Two years later and still left with 1/3 unsold is bad news for the developer.
With the RM depreciated so much from the launch date, the progressive payment collected now and later will have a corresponding lower value and this will hurt them even further.
And now with the slow market and unstable current political situation, they can't even increase the selling price for the balance units to make up the losses.
Perhaps they might even lower their prices just to clear stock soonest possible and hopefully able to break even or just made a little money, pack up and go home.
So, a good chance you might be able to pick up some good deal soon in this buyer's market.
Only 3 quarters? That's only applicable to singapore market, stop using singaporean mindset to think other part of world. Next year sure got better lobang. If you want to bet on iskandar, see when is the next joint ministerial meeting, buy in before they start, as they might finalised their RTS plan...but based on current economic condition, HSR and RTS more likely delay again :( if so, confidence will get even lower, better chance for buyer looking to go in.
RTS and HSR are likely to be delayed indefinitely. The Malaysia government is not serious about both, particularly RTS. The R&F Princess Cove severely restricts the options of RTS rail alignment and station location. The property lull should last for another 2 years at least.
The fate of the HSR and RTS depends on few important factors - RM's value, crude oil price and PM's survival.
If RM continue to fall, it will means the budget will increase corresponding. The earlier projected budget of RM40 billion is becoming RM48 billion now, allocation has to be topped up.
MY depends heavily on oil export for revenue and as a double whammy, oil price had gone down by more than 50% since announcement of project with little sign of recovery any time soon.
The PM is now under heavy pressure to step down because of the plunging RM and the twin scandal of 1MDB gross mismanagement that accumulated RM42 billion debt in a few years and the US$700 million in his bank account.
Looking at it now, the HSR and RTS will not happen in a really long time to come.
Yup. like I said all along one year ago. Investing in overpriced condos is a sure win strategy. Some more mislead consumers that RTS is near their condo. Tsk tsk. Shame on them. Lucky now they realize their stupid mistake n take down their advertisement. Or else Kenna sue.
Delay of RTS and HSR have minimal impact on PC. It is still a project that is nearest to CIQ in JB. They even provide free shuttle service to JB Sentral.
Those jokers here who said that RTS won't be a reality in JB is gonna eat back their words with this news..... 
JOHOR BARU, Sept 11, 2015:
The former residential area of Bukit Chagar here will be the terminal station location for the Rapid Transit System (RTS) from Singapore. Transport Minister Datuk Seri Liow Tiong Lai said that Bukit Chagar had been identified as the station’s location by both the federal and state governments.
“With the agreement of the station’s location, the government hopes that the RTS project can be jointly carried out by Malaysia and Singapore as soon as possible,” he said after a visit to SJKC Pei Hwa 2 in Permas Jaya here, today.
Liow assured the public that detailed plans are currently being discussed with the Johor State Economic Planning Unit.
“The Transport Ministry hopes to announce the details soon with the location of Bukit Chagar for the RTS’ terminal station in Johor Baru,” he said, adding the government also hoped to settle the matter as soon as possible.
JOHOR BARU, Sept 11, 2015:
The former residential area of Bukit Chagar here will be the terminal station location for the Rapid Transit System (RTS) from Singapore. Transport Minister Datuk Seri Liow Tiong Lai said that Bukit Chagar had been identified as the station’s location by both the federal and state governments.
“With the agreement of the station’s location, the government hopes that the RTS project can be jointly carried out by Malaysia and Singapore as soon as possible,” he said after a visit to SJKC Pei Hwa 2 in Permas Jaya here, today.
Liow assured the public that detailed plans are currently being discussed with the Johor State Economic Planning Unit.
“The Transport Ministry hopes to announce the details soon with the location of Bukit Chagar for the RTS’ terminal station in Johor Baru,” he said, adding the government also hoped to settle the matter as soon as possible.
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