New developments to share

[wuqi256]

For retirement, maybe alternate between Msia, Sg and northern Thailand?

Thailand has always been a viable option, actually even parts of southern Thailand is good as well. Some forummers here are actively helping out folks with Thailand and there is actually a separate thread just on this.

Its a good thread to refer to for options in Thailand.
http://sammyboy.com/showthread.php?107933-A-Singaporean-s-guide-to-living-in-Thailand

 

[Steventlk]

Re: The Epic

another reason is ppl buy for the future when infra and other initiatives are hopefully ready by then.

Agree with you bro, as the waiting period is perfect for infra and more developments to take place. Of coz, bearing no hazardous change in the macro economy climate.

 

[Valdez]

Re: The Epic

'Higher property tax on foreigners will dent mart'

PROCESSING FEE HIKE: Move will slow down investment and dampen buying sentiment, says IJM Land CEO
IMPOSING a higher tax on foreign buyers in Johor will put a dent on the property market.

IJM Land Bhd chief executive officer and managing director Datuk Soam Heng Choon said yesterday the move will slow down foreign buyers' investment participation and dampen buying sentiment.

He in the longer term, this will have an impact on 140 industries supported by real estate, although the move currently involves only Johor.

The Johor government will be hiking property processing fee from RM10,000 per transaction to four and five per cent of property value for foreign buyers.

This new measure will take place from January under a new policy being considered to boost the state's revenue.

The new fee, which will apply to all properties, including those purchased from the secondary market, will enable Johor to also control the sale of properties to foreigners.

It is estimated that there are about 130,000 foreign property owners in Johor.

"The policy will affect developers selling luxury properties and targeting the foreign market. IJM Land will not be affected as most of our projects in Johor are in the affordable range and we are targeting owner occupiers," Soam said.

Developers in Johor with high exposure to foreign buyers include UEM Sunrise Bhd, SP Setia Bhd, Sunway Bhd, Iskandar Waterfront Holdings Bhd, IGB Corp Bhd, Tebrau Teguh Bhd and Tropicana Corp Bhd.

Analysts said property developers are against proposals that will lift prices.

However, they said Johor properties will still be attractive to Singaporeans, given the current development of Iskandar Malaysia.

A spokesperson from Mah Sing Group Bhd said demand for properties in Johor should remain strong as the population base is targeted to double to three million by 2025.

He said Mah Sing will not be affected by the new fee as most of its projects in Iskandar Malaysia are predominantly townships offering bread and butter products for locals.

 

[1nottiboy]

Re: The Epic

These analyst are dreaming... they still think Iskandar is a must buy. really dreaming.

 

[FHBH12]

Re: The Epic

Not all malls will succeed especially if they only depend on weekend crowd from Singapore. Recently there r a lot of hype about these big new projects with integrated malls, somewhere in Nusajaya.

http://forums.fuckwarezone.com.sg/eat-drink-man-woman-16/another-jb-mall-closing-soon-4418870.html

 

[shctaw]

Re: The Epic

Nothing is sure win....

Just make sure the ante is low.

These analyst are dreaming... they still think Iskandar is a must buy. really dreaming.

 

[FHBH12]

Re: The Epic

Tightening Down South

15 Oct 2013 07:33 by UOB KayHian

The Johor state government recently announced that it is increasing the foreigner property processing fee from 10,000 ringgit per transaction to 4-5 per cent of property value from Jan 14 onwards. Other than the direct Iskandar proxy UEM Sunrise, companies within our coverage will not be significantly impacted by this new measure that the state has embarked on. Maintain MARKET WEIGHT with Sunway as our top sector pick.

What’s New

- A new state-specific cooling measure in place. The media reported that the Johor government is increasing the property processing fee from 10,000 ringgit per transaction to 4-5 per cent of property value for foreign buyers. This new measure would take place from Jan 14 onwards. We believe that this announcement is a prelude to a slew of measures to cool down the property market that is expected to be introduced during the 2014 Budget, including increasing the real property gains tax (RPGT) and the stamp duty charges.

- The National Property Information Centre (NAPIC) recently published the residential property market report for Malaysia and the respective states. As of Q@13, we saw transaction volumes and values climbing especially within the Iskandar market. From Q113 to Q213, transaction volume and values climbed by about 13.2 per cent and 30 per cent for Johor.

Action

- Maintain MARKET WEIGHT on the sector, and believe that the sector’s performance would be dampened by more tightening measures and the anticipated consumption slowdown, which is tied to various reduction in government subsidies. For now, we maintain BUY on Sunway (Target: 3.39 ringgit) due to its reasonably cheap valuation (10x 2014F fully diluted earnings). Although the Government of Singapore Investment Corporation (GSIC) recently pared down its stake in the company, we understand that the major acquirers of the shares are Malaysian Government-linked funds, which are generally long-term investors. Also, if a slowdown in take-up happens, Sunway’s earnings will still be supported by its strong construction business and stable recurring income from its Reit division.

http://www.btinvest.com.sg/system/a...ia - Tightening Down South - UOBKH 10 Oct.pdf

 

[aliensmotor]

Re: The Epic

Medini square is nice
http://www.medinisquare.com/

 

[1nottiboy]

Re: The Epic

5% gst + 5% SC + 3% stamp duties = 13% on top of what we hafta pay on top of the purchase price. I am not willing to pay these extras. So how? can still pull out and buy somewhere else? think potentially gonna get screwed big time by these mutts liao. I am mentally prepared to lose my beer money for a few years.

 

[RedsYNWA]

Re: The Epic

5% gst + 5% SC + 3% stamp duties = 13% on top of what we hafta pay on top of the purchase price. I am not willing to pay these extras. So how? can still pull out and buy somewhere else? think potentially gonna get screwed big time by these mutts liao. I am mentally prepared to lose my beer money for a few years.

GST is not applicable for residential properties in SG. Probably the same in MY, since MY govt likes to copy SG? Unless you are thinking of buying commercial/industrial units.

 

[malpaso]

Re: The Epic

GST is not applicable for residential properties in SG. Probably the same in MY, since MY govt likes to copy SG? Unless you are thinking of buying commercial/industrial units.

i also suspect GST is not applied to properties. you may have to pay the extra 5% GST on the loan and legal and SPA legal fees, though. Not an issue if the developer bears all. Also developers may give freebeis or discounts

 

[wuqi256]

Heard some good news recently, looks like they are reconsidering their options, the additional $$$ involved will remain but not the overly strict ones.

 

[cybermad]

Heard some good news recently, looks like they are reconsidering their options, the additional $$$ involved will remain but not the overly strict ones.

Good news !

 

[wuqi256]

Good news !

Yes, it is pretty good news, looks like the latest haven't started filtering out though.

 

[cow138]

Malaysia likes to test test water and see reaction. Also all the developers are probably screaming bloody murder in the background. I think probably the sultan is also pissed off since his developments are gonna be launching soon.

 

[RedsYNWA]

Heard some good news recently, looks like they are reconsidering their options, the additional $$$ involved will remain but not the overly strict ones.

The critical one to reconsider is that: locals can't resell to foreigners in secondary market. That one really needs to be reconsidered, as there are a lot of local investors which may cause a market collapse, if they cant resell to foreigners.

I suspect state consent could be increased to say 2-3% of the property eventually.

 

[wuqi256]

Malaysia likes to test test water and see reaction. Also all the developers are probably screaming bloody murder in the background. I think probably the sultan is also pissed off since his developments are gonna be launching soon.

This is others politics and policies so i am not at liberty to discuss in detail, suffice to say it was a welcoming news.
There has been rumours and bad news from the very first day i decided to have a base here.

Lots of people may have given up at the first sign of trouble or are only just coming in but i have always been here.

There are lots like me, i am just one of the blokes.

 

[wuqi256]

The critical one to reconsider is that: locals can't resell to foreigners in secondary market. That one really needs to be reconsidered, as there are a lot of local investors which may cause a market collapse, if they cant resell to foreigners.

I suspect state consent could be increased to say 2-3% of the property eventually.

Hi Red, I am pretty sure the right decision will be made and soon.

If not, we can always go for that hidden vendor for overseas property (London now i heard) who may be able to promise anything and everything that no one (including myself) could. There is no guarantee in life but of course that person can do it all.

 

[RedsYNWA]

Hi Red, I am pretty sure the right decision will be made and soon.

If not, we can always go for that hidden vendor for overseas property (London now i heard) who may be able to promise anything and everything that no one (including myself) could. There is no guarantee in life but of course that person can do it all.

Yes Bro Wuqi, hopefully it will be sensible. In the worst case, we are prepared for 2 weekend homes, if necessary. We go for London only meh? Maybe the lobang can cover Sydney, KL, New York as well ah..... hehe.....

 

[FHBH12]

Lies, damned lies, and statistics.

House price hike not caused by foreigners: REHDA Johor
Get Daily Property News in Malaysia, News Powered by PropertyGuru Malaysia
Oct 16, 2013 - PropertyGuru.com.my

The rise in house prices in Johor can not be attributed to foreigners as they only account for five to 10 percent of the overall transactions.

“The main reason for the increase in property prices is the strong demand for properties in the hot and strategic areas in Johor Baharu and the Iskandar Malaysia and not the foreigners,” said Chairman of Real Estate and Housing Developers' Association Malaysia, Johor branch, Koh Moo Hing.

Notably, State Housing and Local Government Committee chairman, Datuk Abd Latiff Bandi announced last week that the state would increase processing fees for property purchases by foreigners.

Koh noted that the increase in processing fees could impact the government's bid to attract investors in Iskandar Malaysia's real estate sector.

“The move was not in line with the state government's move to promote Iskandar Malaysia,” he added.

To curb the skyrocketing prices, he suggested that the state should build more homes in strategic areas instead of adopting the interventionist policies.

“The property market will be stable when demand and supply are in equilibrium.”

Koh also pointed out that improving transport infrastructure could help 'cool' down demand for properties, noting that “an effective transportation network will open up more areas for housing,” pulling buyers from hot locations.

Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]