Yes ok that is separate issue, landed is definitely the way to go for JB.
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My views on Iskandar. Please share yours.
- Thread starter mpan12
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Yes ok that is separate issue, landed is definitely the way to go for JB.
Been a while since I posted in this forum. Here’s my contribution. May not be right nor wrong. Personal opinions. Not meant to offend anyone.
An interesting observation
Ask any Johoreans in the past if they want to buy condo in JB, they think you are crazy. They will tell you the price is there but the value doesn’t want to go up. They prefer to rent. The expenses is the same. The same amount of money they keep for stock market or FD and it is a lot better than buying a house. Rent is the way to go. Johorean had it too good with the influx of Singaporeans every weekend. Too busy making money. When times is good, you don’t want to change.
Now because the property prices went up so much, they start pay higher rental and this forced them to buy but found the houses unaffordable. They start to complain and hope the prices would come down. You can’t really blame them. The JB government promises so much in the past and so many developments became white elephants or abandoned. They had burnt one time too many. The Wong Ah Fook, Pelangi and Tropicana is the same all these years. Why change? The smart boys are all working in Singapore. They don’t really need posh condos in JB.
So when Nusajaya came along, no one really care what is going on. They see it as a Federal Government project which will take a long time to happen. Afterall, how far can Pontian or Gelang Patah go? Then you have this Lim Kang Hoo armed with his seaside reclaimation project. Nah…it is too far away. Until the Chinese developers come along. At the same time quietly, SP Setia was chipping away in JB and doing some gated residential concepts. Prices keep going up and up.
Ask any Johoreans today, they will tell you the market is going to crash. They hope the prices will come down and that is the only way to afford these inflated houses.
They will tell you it is over heated and over supply. In a way, they are right and they are not going to let go the second chance to invest, not rent.
But like it or not, market forces are at play. Prices will find it own level. And chances is it is not going to be the same before.
Are Johoreans going to appreciate the swanky condos like those they do in Kuala Lumpur or Singapore? Don’t think so. They are more interested to make more money than to pay high prices for these condos. They prefer nice condos but the 5 star ones won't be in high demand.
An interesting observation
Ask any Johoreans in the past if they want to buy condo in JB, they think you are crazy. They will tell you the price is there but the value doesn’t want to go up. They prefer to rent. The expenses is the same. The same amount of money they keep for stock market or FD and it is a lot better than buying a house. Rent is the way to go. Johorean had it too good with the influx of Singaporeans every weekend. Too busy making money. When times is good, you don’t want to change.
Now because the property prices went up so much, they start pay higher rental and this forced them to buy but found the houses unaffordable. They start to complain and hope the prices would come down. You can’t really blame them. The JB government promises so much in the past and so many developments became white elephants or abandoned. They had burnt one time too many. The Wong Ah Fook, Pelangi and Tropicana is the same all these years. Why change? The smart boys are all working in Singapore. They don’t really need posh condos in JB.
So when Nusajaya came along, no one really care what is going on. They see it as a Federal Government project which will take a long time to happen. Afterall, how far can Pontian or Gelang Patah go? Then you have this Lim Kang Hoo armed with his seaside reclaimation project. Nah…it is too far away. Until the Chinese developers come along. At the same time quietly, SP Setia was chipping away in JB and doing some gated residential concepts. Prices keep going up and up.
Ask any Johoreans today, they will tell you the market is going to crash. They hope the prices will come down and that is the only way to afford these inflated houses.
They will tell you it is over heated and over supply. In a way, they are right and they are not going to let go the second chance to invest, not rent.
But like it or not, market forces are at play. Prices will find it own level. And chances is it is not going to be the same before.
Are Johoreans going to appreciate the swanky condos like those they do in Kuala Lumpur or Singapore? Don’t think so. They are more interested to make more money than to pay high prices for these condos. They prefer nice condos but the 5 star ones won't be in high demand.
In my case, there is no consoling or comforting myself. I really bought for own stay, and already staying there, and intending to stay for long. The area I bought into is still undergoing a lot of new construction. So I am not seeing deterioration. Am I closed minded? Nope, just sharing what I have experienced so far.
Uhhh. ... if you intend to keep moving, then you are renting short term. My point still stands. Your tenant does not want to move out of shoebox unit, I can understand that. He is probably single, not wishing to tie himself down. But if it is a 3 bedroom unit, then it's probably a different story. If I am renting a HDB for $3000 a month, do I want to keep paying this rental for the long term or would I look for buying a unit? As for JB, unless the rental is dirt cheap and you like the place, and you intend to stay very long, I would rather own a property and pay a few hundred RM more than to sink money in rental expense. Let's say I want to stay in Bukit Indah for next 10 years or more , and a rented landed property costs RM2500 but mortgage is RM3000, I think buying makes more sense.
So your negative views is mostly towards condos? As for landed property, break ins are a risk, but that is the same, even in Singapore. Install the usual security safeguard systems, stay in gated and guarded areas, that's how one can mitigate the risks. In life there is always some risks. We learn to live with that and manage that.
Yes basically condos are a bad investment due to maintenance issues, landed is better but security is an issue, G&G is good when new but as the development gets older, there are doubts, also did you guys not read the news that some of the security companies guarding the G&G properties in KL were actually run by triads, they clashed over contracts and they were so bad that the residents were actually paying protection fees rather than service fees.
As for security systems, I already am quite a specialist in securing landed property, my landed property in Singapore is well secure with a security company, any breach and the security company is informed, I also have IP cameras which can detect motion and start recording as well as alert me via alarm to my mobile phones, so even when I am overseas, I can still be alerted to any suspicious activity, for Malaysia I would add loud alarms as well as flood lights in the event of security breach, this would alert the whole damn neighborhood of a break in and can be disarmed remotely using Internet, BUT nothing can stop the lowest tech break in, walking in and holding you up at the gate while you are entering the gate while driving in, or simply pushing open the electric gates while you are in and the alarm system is off.
Sorry I sound paranoid but looks like the only solution to mitigate this, is to live in a condo, which does not seem to be a good proposition for dumping my money in.
When installing autogate swing gate, make sure got auto locking mechanism using solenoid plunger.
Very often, stingy people install cheap system that don't have this mechanism and robbers can push the door open easily. Autogates are meant to open and close conveniently. It is not a locking system. Even got this solenoid plunger, you need to lock your entrance door grille. Just like the grille of your HDB. You keep it locked every time. It is very easy to lift up the autogates both swing type and sliding type. Just a piece of wood and a piece of brick as lever will uplift gates.
Pros and cons and depends on situation, renting allows me flexibility to move to the latest and best, I ever owned luxury condos in D9 and nothing is worse than seeing your tenants telling you bye bye and moving to the newer development next door, spend so much investing and yet face this kind of problem, would you believe I sold the condo and actually bought an investment HDB because of this? Much more stable tenants lol.
Also like you say, rental is actually paying the owner's mortgage but I am not worried because all I am doing is parking my investment property to a safer market and use the rental to pay for another place. I am unlike you people who seem to have very deep pockets and unlimited funds and can afford to throw a few hundred thousand dollars with little thought and care. So what ever properties I own must be safely invested and optimised.
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Thanks for sharing I agree with your post, anyway, I also have the security of my family at stake while considering moving to JB, an issue which everyone takes lightly and instead sneer at me, don't tell me you all do not have females in your families and that they do not worry about their security they are away and the family members left alone at home? they are even more vulnerable. So moving to JB really needs thinking through carefully. I believe there is a mommy here who wants to retire in JB early and has very young kids, I cannot imagine how come she never mention security issues of them possibly being kidnapped or gone missing while going to and from school, unless they are shuttled all the time, but that would mean they do not enjoy freedom or privacy doing things and going places where they like without prying parents.
Don't be so humble.......having $2.6m is very deep. Convert to RM, it will be 7.8m. Can buy big palace with private guards.
Some more all fully paid up properties from Singapore to Melbourne...some say now in JB. Loan free...dun play play. Hehehehe...
We all live in a rough society. I had gone a long way from staying in a very rough neighbourhood where blood on the 5ft way in the early hours is norms. I had neighboours who are addicts and pushers. I drink toddy with them sitting next to me but it does not bother me. Just in case you like to know, it is in KL called Tiong Nam and Sentul. Bad hats do not bother me. I am poorer than them.
Fast forward and when you are wealthy, you tend to upgrade your living standard. You like to have a clean and upper class living style. You tend to be worried for your family. You stay in gated communities and shop in higher class areas. Your kids go to international schools and moms send and pick them up. That's fact of life.
Security wise, you have blend with the surroundings. So it is a choice you have to make.
No cities are free from bad hats. It is a matter of what degree you want to tolerate. Investment wise, it is the same. For me personally , I think East Ledang landed areas or Puteri Harbour are safer. But does that mean other parts of JB is unsafe? Not true. Why do I think of it that way that JB is not suitable? Simply because I do not know that area or I am not used to its surroundings. Same as in London. You don't go around investing in certain areas which traditionally had racial problems like certain parts of East London. You invest in places like Canary Wharf, Notting Hill or Prime Central.
JB is no different. Not the whole JB is unsafe. There are nice places to live in there too. I am sure you will find one.
Other countries also have their share of crime. You just need to be careful anywhere. Safety come first. Everything else can wait.
24/1/2015
http://news.asiaone.com/news/singapore/woman-stabbed-3-times-robber-clementi
26/5/2015
http://www.straitstimes.com/singapo...ound-guilty-of-kallang-bahru-rape-and-robbery
15/10/2015
http://www.channelnewsasia.com/news/singapore/two-men-arrested-for/2194498.html
2/8/2015
http://www.theage.com.au/victoria/m...bbery-in-melbournes-west-20150801-gipjzu.html
http://www.abc.net.au/melbourne/topics/law-crime-and-justice/crime/armed-robbery/?page=1
14/7/2015
http://www.abc.net.au/news/2015-07-14/masked-thieves-make-off-with-700k-worth-of-jewellery/6619730
18/11/2014
http://www.abc.net.au/news/2014-11-...-balaclavas-outside-his-armadale-home/5898836
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It would be wrong to generalise and say that those who bought into JB take security lightly. Instead we manage the risks as best as we can. Take the usual common sense measures. Try not to stand out and be a walking target. Keep kids close to you etc etc.
Interesting that you prefer rented because you hate the thought that neighbours are moving somewhere else. In that case owning a property should not be your priority at all, anywhere.:p
Another hasty generalisation you made is that we who buy JB properties are cash rich and foolish to throw money into JB property. My pocket is shallow and my family have our reasons for buying and moving into JB. You have yours for not. But forum decorum should be observed and I would not mock, belittle or ridicule the decisions of others even if I disagree with them or their reasons.
Hmmmm....Landed has security issues, so condo is better to address this but condo has maintenance issue...BTW I also heard that condo security also can be compromised and guards work with the crooks...so that leaves you with?
Ironically you have installed top notch security for a landed house in safe Singapore. Very likely you would spend just a fraction of that kind of cost to similarly secure a landed home in "crime - infested" JB.:p
So there is still a strong pent up demand for Affordable Landed Properties in Iskandar. For High-End Condos there will also be buyers. It is only a matter of time when Booming population growth finally take up all empty spaces.
Who believe in the above? Iskandar is 3x the size of Sg. It has a population of not more than 1.4m. Ridiculous if all empty spaces are taken up - not even in 100 years or when if ever, the population exploded 10x.
Who believe in the above? Iskandar is 3x the size of Sg. It has a population of not more than 1.4m. Ridiculous if all empty spaces are taken up - not even in 100 years or when if ever, the population exploded 10x.
Conservatively Iskandar needs at least 5'000 new units per year, where bulk of the demand is landed properties. Recent 1-2 years supply of affordable landed properties below $500k RM is significantly below this figure. Most newly launched landed within 15min drive from checkpoints are above $600k RM and are getting smaller. Condos play an important role to keep housing affordable as many bigger units can be bought from $300k+ RM.
Different people have different starting point.
Calvin never mention population explosion at Iskandar. He said "There is A Explosion of People Flowing into Affluent First World Singapore Every Morning."
What is said maybe has amplification...but given credit for sharing on the ground info. Vs critic over reliance on generalize 10,000 feet articles which have little relevance and insight. And that put the critic at the Knowledge quadrant BLUE square.
He also said "ISKANDAR LANDED PROPERTIES ARE STILL CHEAPER THAN KL, PJ, PENANG, KUCHING OR KOTA KINABALU".
How can east msia cities, not even near 1mil inhabitant, income power much less....and 100x bigger than Iskandar be more expensive??? This discredit your view on space and population relation to price.
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I think the message from the blogger is very straight forward that landed residentials is affordable.
Johoreans traditionally like landed properties. Actually most Malaysians do. At the same breathe, to say Singaporeans will swarm Johore landed properties will not happen 100%.
One thing for sure. Iskandar have the space and the luxury of time to launch landed properties. The land cost is much cheaper than those waterfront ones. Therefore they can afford to wait over the years. The cost of construction is also much lower. They are not under the pressure to build and sell at high cost.
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