The main reason why I won't buy KL, New York, London, Hong Kong, Shanghai is ..they are too far away. How often can you visit these houses? Why buy JB? It is just 30-45min travel from Singapore downtown during non peak and the price is 10-20 times cheaper than Singapore..
I've decided to pull out of my JB property hunt as I feel it is being priced at premium.
- Nusajaya location isn't yet mature and the land is 3x of singapore.
- The rental market is poor and with the flood of Singaporean money into Nusajaya or surrounding, this create the surge in supply. This will give further poor rental yield.
- I was talking to developer and for the property around RM700k + RM100k reno + fitting = her monthly estimated rental is only RM2k to max RM2.5k.
If I buy this Nusajaya property it only means I'm subsidizing others to stay.
- Whenever only foreigners are buying. The property is deemed to be premium. Look at who are buying in Nusajaya? 90% foreigners.
- With equal price/psf I can get a better appartment at the heart of KL, the capital.
Just compare this Orion condo in KL with Impiana East Ledang:
http://www.iproperty.com.my/propertylisting/821509/City_Centre_Condominium_ForSale
- Impiana has inferior appartment status while Orion is a condo status.
- psf price wise is the same but I believe Orion has better interior fitting as it has condo status.
- Orion at the heart of KL city. Impiana at the heart of ledang city still surrounded by woods.
Similarly you still can find landed in KL with the price of Horizon Hills. why would I buy unproven location?