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Living in JB 3 (Johore)

congo9

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But brings in good tourism money.
You are right.
Malaysia can b self sustained. They have oil,commodity,rice ,sugar ...rubber. They have all the component for a strong manufacturing economy. But they like to jump the bandwagon and become a service economy , for example by building and build their way out of trouble. But that's not the way to run it .
 
Property inventory worsening, but builders with unsold units still building


“For now, we do not think the risk of developers incurring impairment charges will be widespread, as property prices in the Klang Valley area are still holding up well. “However, we are more cautious about developers who had bought their landbank during the peak cycle in 2012 to 2014, as their land cost, and hence holding cost, would be much higher," RHB Research said.

PETALING JAYA: The level of unsold property inventory is continuing to worsen despite the fact that developers have been aggressively unwinding their unsold units over the past two years.
RHB Research in a report yesterday said a number of developers have still launched various new projects to boost property sales despite holding slow-moving inventory and existing projects.


“Based on the latest financial data, unsold and ongoing projects and revenue, as well as unsold and ongoing projects and sales target ratios for many companies have worsened, as property sales and billings from newer or ongoing projects have been slow, while older projects with low take-up rates are being completed.”
For some developers such as Sime Darby Property Bhd, IOI Properties Group Bhd and UEM Sunrise Bhd, RHB Research said unsold and ongoing projects are much higher at two-to-three times of their annual turnover.

“Having said that, overseas projects may have partially contributed to the amount of unsold and ongoing projects, as revenue is only recognised upon completion of the developments.”
Based on checks, the research house said a number of developers have cited that their unsold inventory is largely concentrated in Iskandar Malaysia, due to weak demand and slow release of bumiputra units.
“According to the Real Estate & Housing Developers’ Association’s survey in the first half of 2018, the glut is mainly in the high-end segments such as detached and semi-detached units, as well as the high-rise segment in Johor.
“Affected areas in the Greater Klang Valley are Puchong, Shah Alam and Seremban.”
With slow-moving property sales and diminishing prospects of property price growth, RHB Research believes some developers may start to incur impairment charges on unsold inventory, particularly for companies that have high exposure and have already launched many projects in Johor.
“For now, we do not think the risk of developers incurring impairment charges will be widespread, as property prices in the Klang Valley area are still holding up well.
“However, we are more cautious about developers who had bought their landbank during the peak cycle in 2012 to 2014, as their land cost, and hence holding cost, would be much higher.
“These developers will be more eager to accelerate their sales by reducing selling prices via hefty discounts.”
On the outlook for 2019, the research house said property sales are expected to remain flat in 2019, as many developers remain cautious amid subdued sentiment levels.
Given the sluggish property market outlook, RHB Research said most developers would either lower or maintain their sales targets for 2019.
“Apart from the slow projected gross domestic product growth for 2018 to 2019F (RHB’s forecast is 4.6% for 2018 and 2019) due to the cancellation of a few mega infrastructure projects, the confidence level remains low, given the volatility in crude oil prices and the ringgit.
“Meanwhile, the low visibility of local and foreign direct investments has not helped to spur market sentiment.”
The research house said the bulk of property sales this year is expected to be generated from the affordable segment.
This is underpinned by the fact that the government has announced a stamp duty waiver for the purchase of residential properties priced below RM500,000 and for first-time purchases of homes valued at between RM300,000 and RM1mil in the first half of 2019, as part of the National Home Ownership Campaign. Many buyers, as a result, held back their purchases in the fourth quarter of 2018 in order to enjoy the incentives in 2019.”
 

Sammi888

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Many or not many, I’m not sure. I’ve met quite a few Singaporean families with kids in international schools in Iskandar Puteri.

One Singaporean family I met recently just opened a butchery at Eco Boulevard. Parents send all their 3 kids to one of the most expensive international schools in Iskandar Puteri. Depending on ages of their 3 kids, school fees alone for all 3 of them can be somewhere between SGD7,000 to SGD13,000 Per Month, paid from own pockets (not company).

Instead of Singaporean families, there are actually a lot more Korean and Chinese(China) families who have moved to Iskandar Puteri lately. Most of them moved here just to send their kids to international schools. Apart from them, many caucasian expats residing here are working in Singapore, same as locals who reside here in Iskandar Puteri. Some of them (expats and locals) work here in Iskandar Puteri.
Thanks for sharing
 

Sammi888

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anyone here staying at Puteri Cove? I have been considering for a while wether is it feasible to work in SG and live in JB with young kid? Btw, any fb group that we can join and share and learn?
 
JB’s high-rise residences’ vacancy rate expected to hit above 50% this year

BY RACHEL CHEW of EdgeProp.my

KUALA LUMPUR: The vacancy rate of Johor Baru’s high-rise residences is expected to hit above 50% for the first time in 2019, said CBRE|WTW Johor Baru director Tan Ka Leong.
During his presentation of the Johor Baru real estate market outlook at the launch of the CBRE|WTW Asia Pacific Real Estate Market Outlook 2019 Ma-
laysia report yesterday, Tan pointed out that the 2019 market outlook for high-end, high-rise residential in Johor Baru will remain challenging.
“Generally, all the property segments in Johor Baru were horizontal in 2018. Landed residential property transaction volume was down 20% while high-rise residential property transactions dropped 50% last year. There were also fewer high-end residential transactions in 2018,” Tan noted.
He added that some 10,500 units of incoming supply will be added to the high-rise residential market in 2019. “That translates into about 10% of the existing 102,851 units. I foresee prices and rents moving downwards in 2019 and for the first time, the vacancy rate will break through the current 50% resistance level in 2019,” Tan shared.
The situation is just as bad with the purpose-built office and retail sectors in Johor Baru.
Tan said there is currently 5.84 million sq ft of purpose-built office space in Johor Baru and in 2019, some 928,000 sq ft or 16% additional space will be added to the market.
Tan also expected the vacancy rate for purpose-built office space to rise from the current 26% to 35% in 2019.

This article was first published inwww.EdgeProp.my. Check out the website for the latest property news and listings
 

winners

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JB’s high-rise residences’ vacancy rate expected to hit above 50% this year....
...prices and rents moving downwards in 2019 and for the first time, the vacancy rate will break through the current 50% resistance level in 2019.
With that 93-year old bastard in rule and with his continued vengeance against the Johor's Royal family, things can only get worse going forward. Since he doesn't even say a word of condemnation regarding his PPBM party's Johor Chief Minister about the latter's intrusion into Singapore's maritime border, it therefore clearly demonstrates how that bastard is adamant in sabotaging the relations between Johor and Singapore without a care nor concern for the people and the economy of Johor. This is the type of selfish ruler who will put his self-interests first before his people.
 
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congo9

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With that 93-year old bastard in rule and with his continued vengeance against the Johor's Royal family, things can only get worse going forward. Since he doesn't even say a word of condemnation regarding his PPBM party's Johor Chief Minister about the latter's intrusion into Singapore's maritime border, it therefore clearly demonstrates how that bastard is adamant in sabotaging the relations between Johor and Singapore without a care nor concern for the people and the economy of Johor. This is the type of selfish ruler who will put his self-interests first before his people.
In Johor, the maintenance work of condo is a huge problem. For smaller scale and not so upclass one, it is a much bigger problem. If the condo is well maintained, then i think people will flock in to buy. It a vicious cycle down the road, condo MC corrupted. People don;t want to pay fee. If people are not willing to pay, the MC said that no one is paying and he got no money to maintain the property.
 
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