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Living in JB 2 (Johore)
- Thread starter wuqi256
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The thing is.... S$1m condo seems easy to chew for Singaporeans. Why ? Maybe low interest rate.
I think it comes down to relative prices.
One can get a terrace in JB for MYR 100k but we have a basic 3-room flat in SG that could cost $300k+.
In SG, btw they were P1 employment pass holders i.e pay above $8k.
Singapore is worse , income actually drop if you factor in inflation. Somemore , job security at stake with millions of hungry FTs around . But look, property prices UP , COE UP UP !
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That is what I knew too. Let's compare:
Land 28X70= 1960sqft
Built = 2900sqft
Price with reno but no furnitures = RM1.2M
Land 30X70 + extra 20X70 = 3500sqft
Built = 3000sqft
Price transacted Bare unit = RM1.3M
Which is a better deal?
Paying $1.2 mil for an inter terrace is definitely not worth it. You are all surrounded by concrete walls, no place for greenery. With a corner terrace, at least you have extra land to create your greenery or even easily extend your built-up area. The enviroment around terraces is also very different compared the likes of clusters and semi-Ds.
Terraces have more units built in a given lot of land besides less greenery so it doesn't sound logical to pay this price even though EL terrace built up may be comparable to some other developers cluster or even some smaller semi-D.
Just take a drive through the terraces and semi-Ds that residences has moved in and you see the stark difference in environment between them.
I think sgrean can pay installment using cpf account, if not enough only need to top up a little.
but msian do not normally use their epf for monthly installment, so need to pay a large amount from their income every month.
Hi,
I thought Msians can use EPF for their home installments? I also heard that their EPF does not have a ceiling cap like in Sgp.
I thought Msians can use EPF for their home installments? I also heard that their EPF does not have a ceiling cap like in Sgp.
Agreed. It is the CPF and relative high paying job in SG and low mortgage interest rate that allows Singaporeans and SPR to afford paying for the skyrocket prices of property prices in SG.
JB Property developers and rich investors in JB will be sorely mistaken if they assumed that Singaporeans and SPRs can sell their properties, be it condo or HDB and pay easily for the above million mark in JB properties.
Most can't do that! Because after sales, there is not much cash on hand especially if they have not bought their property before year 2008. Money will be stuck in their CPF account. They can only rent out their property and make use of their monthly rental income to pay for their mortgage payment in JB.
And a lot of them are now leasing out their only HDB flats for above SGD2000 and renting out JB terraces or condo apartment here at prices around RM2000 and pocketing the difference to supplement their "depressed" income in SG.
This a "bad" sign especially if you are seeing more and more SG Chinese families joining the bandwagon together with the SG Malays and Indians in doing so. I heard of two SG Indians families (who are related) renting out their 2 HDB flats and squeezing together (and I heard really squeezing, it is the most extended family I heard - wives, mothers, mothers-in-law, brother-in-law, sister-in-law, grandmother, grandmother-in-law and children) into a rented terrace in JB.
Those few people renting EL and HH semiD at above RM6000 are probably caucasians or highly educated foreign Indians professionals who bring their family over while working in SG but has low rental allowance from their company. So they chose JB because of the relatively low rental compared to SG.
But most Malaysian workers has relatively low salary compared to Singaporeans and SPR. So can use EPF also cannot afford million dollar JB property.
yes. msian can use EPF for home loan. but usually they keep in the EPF account for few years accumulate a certain amount then withdraw one shot to reduce the home loan. Only recently EPF has change the rule and allow use it for monthly installment.
Salary is definitely lower but the purchasing power parity is stronger. Still, it may not warrant a big expenditure on property but we should cast an eye on those real estate in Kuala Lumpur and Penang. Hopefully, the prices of JB properties get there.
One more thing, the EPF pays better interest thatn CPF. Damn!
yes EPF pay 5-6% each year so I think about the same whether to withdraw out to reduce ~5% home loan or keep in EPF receive interest.
In my opinion, East ledang is market as upscale residential so should appeal to those rich ppl in msia...and definately msia is not short of rich ppls...i was told by hh sales person that most of the bungalow are sold to locals and they buy it with cash!!! Some as far as ipoh..now the question is more of whether they are willing to pay at the price now weighting on the pros and cons...with a million dollar, there are plenty of other choices ard...
For rental market, i agree that jb is still lagging behind kl market since majority of the ppl dont really earn tat much...purely depending on educity and expats market doesn't seems enough to sustain the ever growing property market in nusajaya (even for those upscale residential)...Apart from that, there are also alot of luxury condos tat will be ready in the coming 5 years...
A huge self pawn from our government finally came home to roost recently when i spoke with some guys from Europe and US to move their IT operations to Asia and in particularly to Singapore of course.
All went well until one guy said, but you guys have no talents, your government keeps advertising overseas for talents. You guys don't even have
any talents and must always need to import, how can we sustain and grow our business to attract the best if there are not enough talents in Singapore?
Then more chipped in with bad things to say about SG and in the end, the proposal was scrapped and it was only myself defending SG. The rest just kept quiet. Everyone else was sadly quiet.
Now because of the many campaigns to cheapen the people and itself, many of these large company bosses thinks Singapore is a desert bereft of any talented people, i really hope the government wakes up.
Attracting talents is important and i never begrudge the really good ones. The thing is, they have gone to measures too extreme so that its spoiling the reputation of itself and its people overseas. A balance needs to be sought. I am sure the original purpose and intent was noble and for the good of Singapore but it has been left out in the sun too long.
Put it this way, with the impression they had of Singapore, they were very surprised that i was Singaporean. I told them honestly that there are at least a few hundred thousand if not a million who are better than me, its just that Singapore wants only the best and thats why they have open door policy for now.
One of them nodded as his firm was approached by one of our government representative recently and he pointed out to their campaign in the US and questioned about the country when it needs to import so many. He shared with us that if Singapore needs to import people from certain countries just to survive, then its no longer a country that is better. They might as well based their operations and development into these countries instead if they are coming out to Asia even though political climate, ease of business, may be harder. For some of these firms who are willing to pay pretty ok salaries(can fully pay for a 5 room hdb flat yearly) they definitely want good talents.
The rep had to leave in embarrassment. I felt really sad when things have turned out like that.
All went well until one guy said, but you guys have no talents, your government keeps advertising overseas for talents. You guys don't even have
any talents and must always need to import, how can we sustain and grow our business to attract the best if there are not enough talents in Singapore?
Then more chipped in with bad things to say about SG and in the end, the proposal was scrapped and it was only myself defending SG. The rest just kept quiet. Everyone else was sadly quiet.
Now because of the many campaigns to cheapen the people and itself, many of these large company bosses thinks Singapore is a desert bereft of any talented people, i really hope the government wakes up.
Attracting talents is important and i never begrudge the really good ones. The thing is, they have gone to measures too extreme so that its spoiling the reputation of itself and its people overseas. A balance needs to be sought. I am sure the original purpose and intent was noble and for the good of Singapore but it has been left out in the sun too long.
Put it this way, with the impression they had of Singapore, they were very surprised that i was Singaporean. I told them honestly that there are at least a few hundred thousand if not a million who are better than me, its just that Singapore wants only the best and thats why they have open door policy for now.
One of them nodded as his firm was approached by one of our government representative recently and he pointed out to their campaign in the US and questioned about the country when it needs to import so many. He shared with us that if Singapore needs to import people from certain countries just to survive, then its no longer a country that is better. They might as well based their operations and development into these countries instead if they are coming out to Asia even though political climate, ease of business, may be harder. For some of these firms who are willing to pay pretty ok salaries(can fully pay for a 5 room hdb flat yearly) they definitely want good talents.
The rep had to leave in embarrassment. I felt really sad when things have turned out like that.
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