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Chitchat Johor Property Market Collapsed Thanks To Covid! Property Investors Can't Offload Can't Rent Out! Fucking Losers!

Hypocrite-The

Alfrescian
Loyal
New MM2H Rules Will Drive Mass Exodus of Foreigners - That's Intentional, Say Observers - Investment Migration Insider

Following nearly two years of suspension, Malaysia yesterday announced it would reopen its popular MM2H program in a reformed guise. The changes, however, come with unprecedentedly sharp increases in both financial and temporal requirements. That, program participants and agents alike say, reveals the Malaysian government’s true intentions: They simply don’t want the MM2H-crowd in the country anymore.

ExpatGo, an online platform for expats that’s also operated as an MM2H agent for many years, writes in an article on its website today that, whereas they had previously given the government the benefit of the doubt as it faced accusations of wanting to freeze out foreigners from Malaysia, the new rules presented yesterday made it difficult to reach any other conclusion:

Since early last year, the MM2H programme has taken a real battering and resulted in MM2H visa holders giving up the visa or becoming very upset with the treatment they received. On a number of occasions, the MM2H visa holders were the last residents of Malaysia allowed to return here and some are still locked out. Although we were very disappointed by their treatment during the pandemic, we did not believe the government wanted them out altogether. Some expats and MM2Hers did not share our view, nor our willingness to give the benefit of the doubt. Now it seems they were right and we were wrong.

The same publication listed a number of recent government decisions that point to a deliberate effort to make MM2H participants feel unwanted:

Making it harder to renew but easier to cancel MM2H visas
The government did not allow MM2H-ers to renew their expired visas unless they entered Malaysia and did so in-country, which most were unable to do because of the very same government’s ban on entries under the cover of COVID. At the same time, it made it easier to cancel the visas; previously, MM2H holders needed to travel to the country to cancel their visas. That policy was done away with over the last year, enabling cancellations to be completed remotely. Many did just that.
Introducing a 90-day requirement that will effectively exclude more than half of applicants
ExpatGo estimates that less than half of MM2H-holders live full-time in Malaysia and, rather, use it as a vacation home destination. Few working-age MM2Hers will be able to take a full three months off for holidays in Malaysia each year.
Quadrupling the monthly income requirement to nearly US$10,000 a month
Of the many MM2H applicants ExpatGo have assisted over the years, they estimated fewer than 1 in 20 would be able to meet this requirement. Indeed, many participants are retirees who have moved to Malaysia precisely because they could have a higher standard of living on a lower income. The same paper also noted that the amount now required was double that of the average US monthly pension payment and that those who can meet this income requirement are unlikely to choose Malaysia as a retirement destination in the first place.
Raising the fixed-deposit requirement by up to 567%
From the previous MYR150,000/300,000 requirement, the government has raised it to MYR 1 million (US$236,000). A large share of participants will not be able to afford this and those who do will be sure to question the merits of placing such an amount in an account denominated in a steadily devaluating currency: “For example, if you joined the MM2H program in 2010 and placed RM150,000 into an FD, it would have cost you US$46,000 at those exchange rates (about 1:3.22). Today, that account would be worth roughly US$36,000, a loss of almost 25% of your investment.” Applicants will henceforth also need to deposit nearly US$12,000 for each dependent.
Raising the liquid assets requirement by up to 329%
Over and above the money needed to pay for fees and term deposits, applicants will need to demonstrate liquid assets worth at least MYR1.5 million (US$350,000). That’s up from the previous MYR350,000/MYR500,000.
Introducing a minimum age of 35
If you are younger than 35 years old, you will no longer be able to apply for the MM2H at all.
Cutting the visa’s validity period from 10 years to just five. Previous rules allowed for a ten-year visa. The Home Ministry offered no explanation for the halving.
Making existing program participants subject to the new rules
According to ExpatGo, “the government plans to insist that all existing MM2H visa holders meet the new criteria, and we know for a fact that the overwhelming majority will not be able to meet them. They will therefore be forced to leave the country with the attendant negative impact on the economy.”
Perhaps the most salient piece of evidence pointing to deliberate government attempts to push out MM2Hers is that each program change implemented makes it more difficult to particpate. None of the changes make the program more attractive, neither for prospective nor current participants.

Speaking to The Star, MM2H holders and Penang residents Steve and Mary Hambley say the new requirements will force them to find alternatives for what they had anticipated would be their retirement home, and pointed out that most self-funded retirees would not have the income required under the new conditions.

Forced to leave
“We are quite disappointed. We chose Malaysia to be our forever home due to its affordability, lifestyle, and friendly people. We understand that the country is trying to rebuild its economy and, as such, see MM2H as a means but this could have the opposite effect. Many who are unable to meet these new requirements will be forced to leave and it can, unfortunately, take billions of ringgit out of the country,” said Steve.

“I feel incredibly sad for those expats who own their own homes here and will be unable to meet the new limits,” one MM2H visa holder told The Vibes. “Expats who own investment properties here to supplement their incomes will not be able to count that as income to meet the new financial requirements as the RM40,000 per month must be earned offshore. Realistically, if I had the financial means being newly sought here, I would consider a lot of other countries before Malaysia.”

A Canadian couple speaking to the same newspaper said they could not afford to keep a million ringgit that they had intended to live on during retirement locked up in a bank account.

“We’ve been full-time residents of Penang for 12 of the last 21 years,” said the Canadian couple, Gerry and Beth. “It is our home. We’ve helped and supported local businesses and done what we can to boost the economy during these trying times. This latest decision feels like a slap in the face and we urge the government to reconsider and reverse it.”

Another program participant, speaking on condition of anonymity, commented: “I hope the relevant authorities will take into account the plight of existing MM2H residents and make them subject to only the same financial conditions that they have initially signed up for during renewal.”

“On the income levels stated, we could live anywhere in the world”
An unnamed Australian MM2H-resident of Penang told The Vibes that, under the new terms, “we will not qualify and on the income levels stated we could live anywhere in the world. Unless the government changes their decision we will be forced to relocate to another country. The RM40,000 per month income is more than double what we would need to return and live a comfortable life in Australia.”

Tan Hong Wang, an MM2H agent, called the changes “bizarre” and said most agents thought of the changes as ridiculous.

“If you are comparing other neighboring countries that have this kind of program, we are on the losing end in the aspect of competitiveness,” he told The Vibes, hinting programs like Thailand’s Elite visa would be the beneficiary of the MM2H changes.

Pointing out that the changes in financial requirements were not merely incremental but actually represented a quadrupling compared to previously prevailing rates, Tan said “we need to really urge the government to amend it. They need to review and listen to the agents; we have first-hand information.”
 

enjoylife77

Alfrescian
Loyal
Historically, investing in Malaysia real estate are irrecoverable if you take the ever depreciating exchange rate into consideration. If you had bought a landed at RM$800 k based on S$1 to RM$2.20 back in 2009/2010, and if you are able to sell it for RM$900 k today at current rate of $1 to RM$3.10, you will be in the red after holding for 10+ years. Current owners likely will be holding on for the long haul as there are little exit for them.

The catalyst that will inject life into the Johor property market I can see now is the completion and smooth running of the RTS but this will be another topics for discussion come end 2026.
 

LordElrond

Alfrescian (InfP)
Generous Asset
Malaysia is on the verge of chasing out all non Malays. Chasing the foreigners out is just the first step. It will become a Taliban state ruled by Hadi Awang. Wait, is that old fart still alive?
 

LordElrond

Alfrescian (InfP)
Generous Asset
No wonder the Johor sultan moody. He has quite a stake in the project.
The Johor Sultanate is the most fucked up and useless organisation who’d been given too much power. It seems the Johor state Govt panders to his whims and fancies. The development in the entire state is done with zero planning. They try to create a mini-city by building lots and lots of houses everywhere, with zero control on supply, flooding the entire state with the now worthless properties. The Sultan would happily accept whichever developer who gives him kickbacks, selling away prime, freehold waterfront land to foreigners, turning them into ghosts towns. Really glad I offloaded by properties years back, feel sorry for my friends who put so much money there with a view of retirement.
 

syed putra

Alfrescian
Loyal
JB actually is not a bad place to live.
You have excellent beaches in deseru. Better than in penang.
And sinkie is just next door.
All they need is a proper gomen eith foresight.
The ones that actually killed JB is not the sultan but those guys in the feds.najib in particular.working hand in hand with PAP.
Before najib, badawi actually made JB boomed into what it is now simply by making it easy for sinkies to go to and fro from jb, plus visa free for visitors from China to get into jb so no congestion at checkpoints.
 

Hypocrite-The

Alfrescian
Loyal
Actually besides the shitca issues, the other elephant in the room is the preference and ease the mudlanders are given to work n study n live in singkieland at singkies expense

Malaysians in Singapore buoyed by home quarantine option, but approvals less straightforward than expected
Malaysians in Singapore buoyed by home quarantine option, but approvals less straightforward than expected
File photo of a general view of the Causeway from Singapore to Johor Bahru. (Photo: AFP/Roslan Rahman)
Amir Yusof
JOHOR BAHRU: Durian seller Louis Lee has not seen his wife and two young children for a year.

The 31-year-old from Muar is among the thousands of Malaysians who are working in Singapore away from their loved ones, stranded by prolonged border closures due to the COVID-19 pandemic.

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Lee told CNA that he refrained from going back to visit his family because of the quarantine costs.

On Aug 8, former prime minister Muhyiddin Yassin announced that fully vaccinated Malaysians and permanent residents (PR) returning from overseas will be able to serve their quarantine at home beginning Aug 10.

The announcement has been welcomed by many Malaysians based in Singapore, with many now planning to head back home, including Lee who would like to go back to visit his family under the Periodic Commuting Arrangement (PCA) scheme.

He explained that he would save at least RM2,100 (S$680) in accommodation and food spent on serving quarantine in the hotel upon arrival in Malaysia.

“I can finally see them. My wife misses me and she says she has been depressed because I’ve been away from home for so long,” said Lee.

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“Now, the 14 days spent taking leave from work can be spent at home straight away with my family. It’s a big positive,” he added.

However, many Malaysians soon found out that home quarantine was not automatically granted to every one arriving at the entry points.

The Health Ministry has since clarified that travellers entering Malaysia via Johor may submit an application to undergo mandatory quarantine at their home at least seven days prior to their arrival.

The application process is not that straightforward, said those interviewed by CNA. Due to the high volume of applications, they may have to wait for a long time for a reply, and some of their applications were rejected without very clear explanation, they added.

HOME QUARANTINE NOT GRANTED TO EVERYONE: KHAIRY
In a press conference on Wednesday (Sep 1), Health Minister Khairy Jamaluddin outlined that less than a quarter of people who have applied for home quarantine have been given approval, stressing that this was contingent on “strict risk assessment by the ministry”.

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"As of Aug 10, around 20,000 people have applied for home quarantine. However, we do not grant home quarantine for everyone,” said Khairy.

"So far the ministry has only approved 4,159 applications and this is based on strict risk assessment that includes their vaccination status, test and travel history,” he added.


Commuters leave the Woodlands Causeway across to Singapore from Johor, hours before Malaysia imposes a lockdown on Mar 17, 2020. (Reuters/Edgar Su)
The minister added that around 400 travellers were being monitored with digital tracking bracelets in a pilot programme, and the ministry was looking to roll this out to more people.

According to announcements made by Malaysia’s Ministry of Health, those interested to apply for home quarantine may submit a form for approval.

Applicants are also required to submit supporting documents such as their full vaccination record and their home address in Malaysia.

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There are two different email addresses to submit the applications to, depending on whether one is entering via Johor or other border checkpoints.

In the form, applicants are also required to specify some details such as the number of people living in the address where they are serving home quarantine, the number of senior citizens, kids and those with illnesses, as well as the number of rooms and rooms with adjoining bathrooms.

Travellers entering Malaysia via Johor must submit COVID-19 home quarantine application a week before arrival
SOME TRAVELLERS ATTAINED APPROVAL
Lee, the durian seller, had planned to take 60 days off from managing his durian store at Owen Road. He told CNA he applied for home quarantine on Aug 23 before travelling to Johor via Woodlands Checkpoint the next day as “he had to travel home urgently”.

He was sent to a hotel for mandatory quarantine upon arrival and the approval for home quarantine came on Aug 30, the eighth day of his quarantine in the hotel.

“I was so relieved, I actually never thought it would be approved. I was already mentally prepared to serve the full 14 days in the hotel, and foot the entire cost,” Lee said.


File photo of Malaysian Louis Lee at his shop at Owen Road. (Photo: Amir Yusof)
Lee stays with his wife, two young children, and two parents in a three-room home in Muar.

Despite his relief, Lee expressed concern that the approval took “quite long” and that there was more paperwork than he anticipated.

“When they first announced that home quarantine would be allowed, I immediately started packing because I was so excited. But it has not been as easy as I thought. I’ve had to spend a week serving quarantine at a hotel, not knowing if my application would be approved. There was so much uncertainty,” he added.

He is aware that he would still have to pay S$2,000 in quarantine costs when re-entering Singapore, but he is relieved that the total he has to fork out for the trip is still less than it was before August.

Another Malaysian Vanessa Toh, who works as a nurse in a public hospital in Singapore, has also been successful with an application for home quarantine. Toh had been eagerly awaiting rules to be relaxed for people who are fully vaccinated. She received her second dose of the Pfizer-BioNTech vaccine in February.

“I have not seen my parents since December 2019 and it’s just been too long,” said Toh, who plans to travel to her home in Kulai, Johor.

Toh received confirmation that her request to serve home quarantine when she travels back in October was approved on Aug 30. However, she noted that the process has not been smooth.

When she first tried submitting her form on Aug 11, the email bounced as the inbox was full. She submitted her application again when the government announced that incoming travellers from Johor should email [email protected] instead of [email protected].

“The process has not been straightforward,” Toh said.

“There have been issues along the way. But I’m happy to eventually get approval,” Toh added.

OTHER APPLICATIONS REJECTED
A Malaysian salesperson based in Singapore, who wanted to be known only as Lara, told CNA that she has tried submitting the forms twice, but was rejected both times. She recently received a rejection note on Aug 30.

Lara had submitted the completed form and the necessary supporting documents but she said she received the same email reply, within 24 hours, informing her that her applications were rejected.

“I don’t really know why I was rejected. I’ve been fully vaccinated with the Pfizer vaccine … I live in a three-bedroom terrace house in Bukit Indah area with my family,” she said.

In the email reply seen by CNA, the health ministry stated that her appeal for home quarantine was not approved because she was “travelling from a high-risk country” with reported transmission of COVID-19 in the community. It also said that her home was “not suitable for quarantine”.

“The reason (they gave) is weird, but there is no hotline I can call to clarify, so maybe I will tweak my application slightly and try again. It’s frustrating,” Lara added.

Another Malaysian working in Singapore, who only wanted to be known as Salmah, told CNA that her application for home quarantine was rejected with a similar reply when she submitted her documents in August.

Her home, a two-room flat in Larkin, Johor, only has one other occupant, her elderly mother.

She had planned to go home in August but would now delay her travel plans until home quarantine is approved.

“I have tried applying once in August, but since the latest announcement specifically for those travelling via Johor, I have not sent in anything,” said Salmah.

“I will try again soon,” she added.

Another Malaysian traveller Wilfred Yap, who is currently serving quarantine in a hotel in Kuala Lumpur after arriving from Singapore on Aug 25, told CNA that he has submitted his application for home quarantine three times to both emails, and has yet to receive a reply.

The 34-year-old, who works for a computer-chip manufacturer, said that the last time he submitted was on Aug 30.

“I’ve tried asking the hotel staff and the health ministry officials at the airport, but they told me to just wait for the email reply. I’m not sure why they just can’t grant approval by interviewing me in person,” said Yap.

In a Facebook post on Aug 28, the health ministry posted a notice to reassure travellers that their applications are being considered.

“Attention to travellers who are applying for home quarantine, your application will be reviewed,” the notice said.

“The HSO email is receiving a high number of emails and therefore the response time is longer than usual. Please do not send repeated emails and this will overload the system,” it added.
 

syed putra

Alfrescian
Loyal
All these in quarantine thing us a scam to squeeze money from returnees. Gully vacv8nated retyrnees shoukd be allowed through no questions asked.
Whenever Jiu Hu makes a condition, it's bound to benefit some of their buddies at the expense of the entire economy.
 

congo9

Alfrescian
Loyal
All these in quarantine thing us a scam to squeeze money from returnees. Gully vacv8nated retyrnees shoukd be allowed through no questions asked.
Whenever Jiu Hu makes a condition, it's bound to benefit some of their buddies at the expense of the entire economy.
These returnees don't declare income tax. It is good that they have to pay their dues one way or another, specially the Chinese.It Just the start.
 

JohnTan

Alfrescian (InfP)
Generous Asset
All these in quarantine thing us a scam to squeeze money from returnees. Gully vacv8nated retyrnees shoukd be allowed through no questions asked.
Whenever Jiu Hu makes a condition, it's bound to benefit some of their buddies at the expense of the entire economy.

That's all acceptable in islam. The only thing not acceptable in islam is eating pork. That's what anyone, layman or theologian, gathers from islam.
 

rushifa666

Alfrescian
Loyal
Historically, investing in Malaysia real estate are irrecoverable if you take the ever depreciating exchange rate into consideration. If you had bought a landed at RM$800 k based on S$1 to RM$2.20 back in 2009/2010, and if you are able to sell it for RM$900 k today at current rate of $1 to RM$3.10, you will be in the red after holding for 10+ years. Current owners likely will be holding on for the long haul as there are little exit for them.

The catalyst that will inject life into the Johor property market I can see now is the completion and smooth running of the RTS but this will be another topics for discussion come end 2026.
Shh dont tell dumbsinkie. Also, rental is how you avoid the pap from knowing about you. Rare as that is
 

mudhatter

Alfrescian
Loyal
ehmm...no

Malaysia has rejected HSR to stinkypura and for good reason.

Nice to see pap-pigs led stinkypura going from bragging about being the best in the world in some little known, paid index or the other to grabbing for glory at the regional level, to now under eunuch loong, satisfied with CECA virus turd rate tiong imports and vying with - wait for it - not all of Malaysia either, but just the state of Johor. :roflmao:


The best part is stinky chink slanty bastards now have to gloat in some imaginary collapse of only one segment, the property sector, in Johor while they are stuck in their pigeonhole HDB flats without cars in hot humid stifling weather enjoying CECA virus in a tax evasion and money laundering hub under the graces of their pap-pig dictatorship while being fed BS news by their 160th media.

To boot, they got no looks, no brains, no strength, stamina, inventiveness, creativity, originality, talent, history, heritage, civilization, legend, even scenery or anything worth mentioning.

:roflmao:

Can't wait to see the day when stinkypura finally uplorries and reaches its well deserved end.

If Melayun and Indon were not loser incompetent non-Muslim (slanty origin kufr-influenced) countries, they would have taken stinkypura to task decades ago.

Let's not forget that stinkypura not only aligned with their yankee kafir masters in their invasion of Afghanistan but also the invasion of Iraq all because they were aligned with kafir zionist terrorists, let's not forget that. And in their hatred and enmity for Muslims worldwide, they blindly - without considering the aftermath - jumped into the bandwagon in the invasions of Iraq and Afghanistan.

Now that the Taliban are back in power in Afghanistan, although Iran is led by a lousy turkic donkey in khamenei and by a loser weak effeminate population that surrenders at the drop of a hat (historically Iran has been a surrender monkey nation that was conquered by arabs greeks mongols pashtuns liek durrani etc quite easily. it can be compared to iraq syria anatolia/turkey, egypt pakistan, ceca virus/india etc in how frequently they were conquered by outsiders and with such great ease). With a pakistan that is also increasing its nuke arsenal and with a north korea that has tested ICBM and nukes, it's only a matter of time before stinkpura and its kafir masters are taken to task for all of their numerous crimes.
 

Scrooball (clone)

Alfrescian
Loyal
1632299970326.png

Chart showcasing the price per square feet for four-rooms condominium homes at Lovell Country Garden over the last five years. Prices are in Malaysian Ringgit. (Source: Propertyguru Malaysia)

https://www.channelnewsasia.com/asia/covid19-johor-selling-condo-property-market-malaysia-1838926
 

winners

Alfrescian
Loyal
With a pakistan that is also increasing its nuke arsenal and with a north korea that has tested ICBM and nukes, it's only a matter of time before stinkpura and its kafir masters are taken to task for all of their numerous crimes.
Go and KanNiNaBu Eh Chao Chee Bye Lah. Talk like as if history is all written by you alone. For a start, what has Singapore to do with Pakistan and North Korea? Their number one enemy should be those Western countries.

FUCK YOU LAH. WHO ARE YOU? Are you even aware that everyone here in this forum is laughing at your Fucking stupidity and naivety? You only have m&d inside your brain and that's why your stupid nick (which you have given yourself) includes the word: m&d. See how stupid can you get?

When you are born stupid, you will always remain stupid. I always despise and look down on those who give themselves silly and idiotic nicks in forums because it further expresses their kind of retarded characteristics and behaviours born in them. Enough said.
 
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Filloz

Alfrescian
Loyal
Many China-owned projects and Developers in Malaysia will go bust. Fearing unrest, Chinese developers will take care of domestic debts and let overseas project default.

https://www.zerohedge.com/markets/f...-interest-payment-pboc-injects-most-liquidity

Beijing may have just found a brilliant solution to the Evergrande problem, effectively rescuing the company and averting a systemic crisis all at the same time:
  • it will pay local bondholders and soft nationalize/bailout Evergrande,
  • but will avoid allegations of backsliding on tightening/deleveraging promises and improving "common prosperity" by stuffing foreign creditors.
 

laksaboy

Alfrescian (Inf)
Asset
Many China-owned projects and Developers in Malaysia will go bust. Fearing unrest, Chinese developers will take care of domestic debts and let overseas project default.

https://www.zerohedge.com/markets/f...-interest-payment-pboc-injects-most-liquidity

Beijing may have just found a brilliant solution to the Evergrande problem, effectively rescuing the company and averting a systemic crisis all at the same time:
  • it will pay local bondholders and soft nationalize/bailout Evergrande,
  • but will avoid allegations of backsliding on tightening/deleveraging promises and improving "common prosperity" by stuffing foreign creditors.

Good. China-owned going bust is always good news. They have quite a number of developments in JB stretching into the Bukit Indah region.

They all started during the Najib years. Najib is an easily bribed fellow, how did you think he ceded ownership of the KTM railway land in Sinkieland? :wink:
 

Filloz

Alfrescian
Loyal
Good. China-owned going bust is always good news. They have quite a number of developments in JB stretching into the Bukit Indah region.

They all started during the Najib years. Najib is an easily bribed fellow, how did you think he ceded ownership of the KTM railway land in Sinkieland? :wink:
Trilogy
1. Malaysian banks facing soaring bad debts. 2. Najib will return as PM in 2023. 3. Najib will then sell the whole Malaysia to China.
 
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