Living in JB 3 (Johore)

[shctaw]

Old folks in Singapore keep getting kick out of their home on basis of road widening, enbloc, MRT tunneling etc.

Sad to see those place in Geylang Seria gone, and even Rochor Center and Pearl Center is going soon.

This folks thought they have 30-60 years left to stay in their property.....
Now they must buy smaller unit in Singapore.

I know one of them, my suggestion is to take the money and leave Singapore. Go somewhere with fresher air, put the money in a bank and collect 3% interest.

Singapore is a bad place to retire. That I am very sure.

I don't know the age group of the relatives but my suspicion is that they belong to the age group of 45-60 currently.

IMHO, these people were in the golden age for Singapore during the 80s. They bought their HDB flats at less than SGD 100K and managed to let it go for SGD 400K or more when the property market zoomed up. Coupled with SGD 300K to 400K, they sank that into a condo or landed property worth SGD 700K to 800K. And the rest is history because that property would be close to SGD 2 million now.

But alot has to do with timing and guts too. A friend of mine who was a credit officer in one of the local banks told me that during the SARs Crisis and Global Financial Crisis, some of the unlikeliest investors went out to buy newly launched properties (Icon in Tanjong Pagar, Meraprime in Tiong Bahru) next to MRT stations knowing that it is a convenient location at less than SGD 550 psf.

And yes...they don't spend on renovation.

 

[Funds Transfer]

Old folks in Singapore keep getting kick out of their home on basis of road widening, enbloc, MRT tunneling etc.

Sad to see those place in Geylang Seria gone, and even Rochor Center and Pearl Center is going soon.

This folks thought they have 30-60 years left to stay in their property.....
Now they must buy smaller unit in Singapore.

I know one of them, my suggestion is to take the money and leave Singapore. Go somewhere with fresher air, put the money in a bank and collect 3% interest.

Singapore is a bad place to retire. That I am very sure.

Yes, this phenomenon afflicts both the flat and landed property dwellers.

The SERS is one such scheme which has impacted on old folks who obviously cherished the bonds that they have built over the years and obviously not keen to relocate. The Circle Line has also displaced many.

Agree with you that Singapore is not a place to retire and that's why Iskandar, despite the price escalation, political uncertainty and crime, remains the promised land on the horizon.

 

[arsenal]

What do u search by? I search by identity number and I see the owner's name...

I am singaporean and my identity number is not recognized, so I search by PTD Lot number. I don't know how to pay since the owner is different name.. Who is Nusajaya Greens?

 

[Legolad]

Interesting forum letter in ST today:

$200,000 for air-con space?

THE Government has introduced several rounds of measures to rein in the continued rise in property prices. There is some effect, yet property prices are holding their own.

Recently, I visited a couple of property launches.

The showflats attracted quite a crowd and the boards indicated that many units were sold - clear evidence that there was no shortage of buyers.

I was told that, at the offer price of about $1,300 psf before any stamp duty, the apartments should be a worthwhile investment for my own stay or rental income.

When looking at the price list, I noticed that there was a sizeable area set aside for holding the air-conditioning equipment.

A unit with a total saleable area of 61 sq m had 14 sq m provided for air-con space.

A quick back of the envelope calculation suggested that the buyer will be paying about $200,000 for the space to house the air-con.

Considering that a multi-split air-con system costs about $3,000, I find this situation incomprehensible.

To be sure that I was not mistaken, I sought confirmation from the agent, who assured me that the 14 sq m of "air-con" area is indeed chargeable, and that the cost is to be borne by the buyer.

This must make Singapore one of the most expensive places in the world to install an air-con system.

To have living space costing in excess of $1,000 psf for suburban localities already makes Singapore property prices one of the highest in the world.

To have air-con space costing $200,000 should be a wake-up call for Singapore to seriously re-examine its land valuation model.

Philip Toh Kee Poon

http://www.straitstimes.com/premium/forum-letters/story/200000-air-con-space-20130408

 

[FHBH12]

How come owner information is not my name?

Owner Information
Name : HO HUP JAYA SDN. BHD.

Mystery solved. I checked with my developer and they replied that it will take 1-2 years for the land office to transfer the title to the owner.

 

[RedsYNWA]

Mystery solved. I checked with my developer and they replied that it will take 1-2 years for the land office to transfer the title to the owner.

Its because the overall master title of the development is issued to the developer. The developer or its banker has not subdivided the master title into individual titles yet. Usually, the developer will pledge the entire master title to the bank for funds to develop the Taman.

You currently own a part of the overall master title, and usually subdividing the master title into individual titles for each household will take some time, as master title is pledged to the bank. Not exactly the fault of the land office for the wait....haha

 

[jade apple]

Just being curious , why over the night, my power went down? Realised other brothers and sisters also had a power cut. This power goes up and down , strange. Better concentrate with my candy crush game .

来来来， 我们一起玩candy crush.

 

[Funds Transfer]

Just being curious , why over the night, my power went down? Realised other brothers and sisters also had a power cut. This power goes up and down , strange. Better concentrate with my candy crush game .

来来来， 我们一起玩candy crush.

I think Tenaga Nasional Berhad may be behind it. :p

 

[Grago]

I think Tenaga Nasional Berhad may be behind it. :p

Power cut from 1800-1850hrs. The whole Horizon Hills.

 

[jade apple]

I think Tenaga Nasional Berhad may be behind it. :p

Power cut from 1800-1850hrs. The whole Horizon Hills.

Sudden population increases and causes shortage in power? Power rationing?

 

[siacw]

power trip is normal in malaysia. get use to it.

 

[cheerguan]

I don't know the age group of the relatives but my suspicion is that they belong to the age group of 45-60 currently.

IMHO, these people were in the golden age for Singapore during the 80s. They bought their HDB flats at less than SGD 100K and managed to let it go for SGD 400K or more when the property market zoomed up. Coupled with SGD 300K to 400K, they sank that into a condo or landed property worth SGD 700K to 800K. And the rest is history because that property would be close to SGD 2 million now.

But alot has to do with timing and guts too. A friend of mine who was a credit officer in one of the local banks told me that during the SARs Crisis and Global Financial Crisis, some of the unlikeliest investors went out to buy newly launched properties (Icon in Tanjong Pagar, Meraprime in Tiong Bahru) next to MRT stations knowing that it is a convenient location at less than SGD 550 psf.

And yes...they don't spend on renovation.

Right. Even mortgage rates around 8% back then, still no problem. That's how majority of sinkies got rich and their kids are living off it now. And not forgetting the mass en blocs on this little island during the last 5 yrs.

 

[ginfreely]

True, but already too old to qualify for loan. That's why have to sell house here to buy in Iskander and able to still see some savings left. Am willing take the risk (3yrs) and hope for prices to come down till affordable level (ie. still having spare cash after buying 1) in Sg.

Oh then it is a matter of taking risk then, me no idea about the way the SG property price will move. Of course as someone vested, I hope it stays up!

 

[Funds Transfer]

Right. Even mortgage rates around 8% back then, still no problem. That's how majority of sinkies got rich and their kids are living off it now. And not forgetting the mass en blocs on this little island during the last 5 yrs.

Remember those days when CPF contribution was still 20% by the employers with no cap? I think the high salaried managers and civil servants really laughed all the way to the bank.

These same bunch of people are buying properties for their grandchildren!

 

[Funds Transfer]

Did he miss the boat or is this a timely warning?


http://www.propertyguru.com.sg/blog/tag/perils-of-iskandar

Perils of Iskandar

By Pete WongApr 1, 2013
Pete Wong is the founder of Awarna Media with offices in Kuala Lumpur, Singapore and around the region. He made his foray into property on both sides of the Causeway since the early days - when...

Iskandar still facing serious issues.

I have friends always asking about investing in Iskandar Malaysia and these are my thoughts. If I am heading an SME (small and medium enterprise) in Singapore, it would make good business sense for me to expand into Iskandar, especially if I am looking for cheaper labour and space to grow my factory, for instance. On paper, Iskandar seems to have all the infrastructure in place to support SMEs.

But I am not sure if I would want to relocate my family there. During my younger days, I spent nine years living and studying in Johor Bahru. In those days, most of us locals knew the unwritten rules for survival like avoiding encounters with members of the royal family. For example, if we were to see a car bearing special number plates on the road, we would not think of overtaking it, no matter how slow it was going. I don't know if the situation is better now as I have not been living in the state for many years.

Some Singaporeans might think this is a joke. Others have found out, the hard way, how important it is to adapt to a new culture and mindset when crossing the border.

A lot has been said about crime in the city. Let me just say that it will be at least a few decades from now before a single young lady can safely walk the streets of Johor like they can along Orchard Road.

Some issues are beginning to surface as highlighted in a recent Business Times article which said that investors are not getting assurances in black and white on issues like land zoning, mortgage loan quantums and Bumiputra employment quotas, among others.

Foreigners investing in Iskandar might do better if they can understand that most policies in Malaysia are instituted by politicians of the day. When the politician leaves, a new policy replacing the old one is to be expected. When doing business in Johor, one has to factor in such risks.

Remember that Putrajaya, the state administrative capital of Malaysia, is still struggling after more than 20 years in the making. When Iskandar was mooted in 2006, authorities were confident about getting funds from Middle Eastern investors. Obviously, that plan didn't work out and the focus is now back to Singaporean investors.

Some folks like to draw the analogy of Singapore and Iskandar as being similar to Hong Kong and Shenzhen. Formerly a fishing village, Shenzhen transformed to become a vibrant manufacturing hub driven by Hong Kong investments. However, there is one big difference. Both Hong Kong and Shenzhen are part of China and the central government sees to it that rules are fair and both sides prosper. I am not too sure if it's the Johor government's priority to see that Singapore prospers.

Five years from now, perhaps there might be an MRT service linking Singapore with Johor. Then again, there might also be a high-speed train connecting Singapore with KL. Inadvertently, KL is a competitor for Iskandar. If my business is regional, I would choose KL over Iskandar because of better connectivity - within a four-hour flight radius, I can be in Beijing, Hanoi, Jakarta and many other cities around the region.

 

[1nottiboy]

Just read thru my posting and I realised that I didnt write my main point down.

If my underachieving relatives can have so much money, then the average Singaporean who is hardworking and "normal-achieving", should have even more money rite?!? At least I think thats how the theory goes.

When my mum told me that her sister has SGD500K cash, my eyes almost popped out. This stingy woman always bets SGD2 on blackjack every CNY. Nothing more. Anyway, I digress.

I don't know the age group of the relatives but my suspicion is that they belong to the age group of 45-60 currently.

IMHO, these people were in the golden age for Singapore during the 80s. They bought their HDB flats at less than SGD 100K and managed to let it go for SGD 400K or more when the property market zoomed up. Coupled with SGD 300K to 400K, they sank that into a condo or landed property worth SGD 700K to 800K. And the rest is history because that property would be close to SGD 2 million now.

But alot has to do with timing and guts too. A friend of mine who was a credit officer in one of the local banks told me that during the SARs Crisis and Global Financial Crisis, some of the unlikeliest investors went out to buy newly launched properties (Icon in Tanjong Pagar, Meraprime in Tiong Bahru) next to MRT stations knowing that it is a convenient location at less than SGD 550 psf.

And yes...they don't spend on renovation.

 

[Funds Transfer]

Just read thru my posting and I realised that I didnt write my main point down.

If my underachieving relatives can have so much money, then the average Singaporean who is hardworking and "normal-achieving", should have even more money rite?!? At least I think thats how the theory goes.

When my mum told me that her sister has SGD500K cash, my eyes almost popped out. This stingy woman always bets SGD2 on blackjack every CNY. Nothing more. Anyway, I digress.

I like to believe that most people get rich through investments and what made them financially successful may be unknown to us - even relatives. Unless they share, we are none the wiser.

Let's not forget that we have many Singaporeans who prospered through the golden age; worked in a company for 25 years at an average monthly salary of $2,500 and 3 month bonus. These are not demanding figures.

If you take those numbers, it is $937,500 in a life time without taking into consideration of investment gains, dividends, asset appreciation and compounded interest. Save half of that, that's your $0.5 million.

 

[arsenal]

I also have the problem recently. I made my own investigation, and realise my cut off fuse in the main power switch outside the house have been stolen and replaced by 3 cables. One of the cable is very loose and that cause the power to be interminent. Each fuse is approx 16rm..

Just being curious , why over the night, my power went down? Realised other brothers and sisters also had a power cut. This power goes up and down , strange. Better concentrate with my candy crush game .

来来来， 我们一起玩candy crush.

 

[arsenal]

This could be 8 river suites in boon keng.. The air con ledge is so big. Developer joke to ask maid to live there..

Interesting forum letter in ST today:

$200,000 for air-con space?

THE Government has introduced several rounds of measures to rein in the continued rise in property prices. There is some effect, yet property prices are holding their own.

Recently, I visited a couple of property launches.

The showflats attracted quite a crowd and the boards indicated that many units were sold - clear evidence that there was no shortage of buyers.

I was told that, at the offer price of about $1,300 psf before any stamp duty, the apartments should be a worthwhile investment for my own stay or rental income.

When looking at the price list, I noticed that there was a sizeable area set aside for holding the air-conditioning equipment.

A unit with a total saleable area of 61 sq m had 14 sq m provided for air-con space.

A quick back of the envelope calculation suggested that the buyer will be paying about $200,000 for the space to house the air-con.

Considering that a multi-split air-con system costs about $3,000, I find this situation incomprehensible.

To be sure that I was not mistaken, I sought confirmation from the agent, who assured me that the 14 sq m of "air-con" area is indeed chargeable, and that the cost is to be borne by the buyer.

This must make Singapore one of the most expensive places in the world to install an air-con system.

To have living space costing in excess of $1,000 psf for suburban localities already makes Singapore property prices one of the highest in the world.

To have air-con space costing $200,000 should be a wake-up call for Singapore to seriously re-examine its land valuation model.

Philip Toh Kee Poon

http://www.straitstimes.com/premium/forum-letters/story/200000-air-con-space-20130408

 

[arsenal]

OK.. it means can pay less tax

Its because the overall master title of the development is issued to the developer. The developer or its banker has not subdivided the master title into individual titles yet. Usually, the developer will pledge the entire master title to the bank for funds to develop the Taman.

You currently own a part of the overall master title, and usually subdividing the master title into individual titles for each household will take some time, as master title is pledged to the bank. Not exactly the fault of the land office for the wait....haha