Matex Residence

[shctaw]

risk picking up the bumi lot (1st property), may end up none.

As a foreigner; must be careful in picking property.

1. Avoid LH
2. Avoid Bumi Lot
3. Avoid new developer
4. Avoid untested area
5. Avoid oversea developers without a malaysian partner
6. Gated and Guarded is a must

One can easily get screwed oversea.

 

[shctaw]

For those whom saw a property; but all international lots are sold out.

Just move on to the next project. Waiting for durian to ripe is the most stupid strategy.

 

[graveyard]

Anyone with past dealing with NS Global / UMLand can comment on likelihood of price increase on reserved units? i am just worried there will be a blackout and when the lights are back, i see RM1000psf for my unit on the S&P

 

[shctaw]

Anyone with past dealing with NS Global / UMLand can comment on likelihood of price increase on reserved units? i am just worried there will be a blackout and when the lights are back, i see RM1000psf for my unit on the S&P

This project is suppose to launch in April 2013.
Due to the Malaysia 505 Election; it was push back to June 2013.

Because of this move; some contract with NSG fall outside 6 months period and the claus come into play.

NSG will not gain for any changes in price as they have already collected the money. It will be difficult for them to vomit out the money after the money gone into their pocket.

UM Land have 170+ units been booked; and I doubt they want to see 100 angry buyers showing up during their launch date.

I give it a 80% chance everything will stay the same. 20% for some unforseen event.

In fact the advantage may be on the buyer's side. We can ask for our money back and buy something nearby.

I think NSG is at UMLand and customers' mercy.

NSG position is the worst off party; only advantage they have is the money in their pocket.

 

[kopikong99]

Just sharing my friends story.

Last year, before the SG govt's cooling measures and all the hype about Iskandar, he placed a deposit for one of the developements in JB. Problem was it was and still is, a bumi unit. His price was RM650 psf. That was more than 6 months ago. he was told that to convert a bumi lot takes time for approval.

So now that the mkt is so hot, and if the developer decides to play punk, i.e. tell him that conversion not approved, then re-sell at higher price or if approval really didnt go through, or if approval takes forever, etc, then I think he has been screwed big time. Cos it would mean that he would have to buy now - at higher prices!

kinda pity him cos he isnt rich and isnt a flipper. he really needs the bigger space to work cos SG property is too expensive for him. guess thats the risk of buying things in Malaysia. sigh...

Mine property is a Developer bumi lot in 2010. Earlier bumi lot conversion by Developer gets approval quite fast but not for mine as then property was starting to picks up. So the approval was rejected by Land Office one time, two time so I decided to hedge and got another property just in case for the worst scenario. But my instruction to the developer to persist with the Land Office and keep re-submitting as it is their obligation in the first place. I think after the 3rd appeal, it got approved. Yes buying Bumi Lot has uncertainty as you would face the uncertainty of whether a bumi would come along and select your unit. If that happens, then and prices moved up so much then got nothing in the end.

 

[Newbie11]

Will share once my bumi unit with Setia goes or falls thru.. They requested us to sign s&p and arranged for a bank to agree to approve our loan today and honor it until the unit is converted to non bumi status.

 

[yyhwin]

This project is suppose to launch in April 2013.
Due to the Malaysia 505 Election; it was push back to June 2013.

Because of this move; some contract with NSG fall outside 6 months period and the claus come into play.

NSG will not gain for any changes in price as they have already collected the money. It will be difficult for them to vomit out the money after the money gone into their pocket.

UM Land have 170+ units been booked; and I doubt they want to see 100 angry buyers showing up during their launch date.

I give it a 80% chance everything will stay the same. 20% for some unforseen event.

In fact the advantage may be on the buyer's side. We can ask for our money back and buy something nearby.

I think NSG is at UMLand and customers' mercy.

NSG position is the worst off party; only advantage they have is the money in their pocket.

Sienz.....if they raise the price, then I miss out the half a year time leh, opportunity cost. :(
Plan to buy some stocks. but hold it back coz scared this project suddenly launch.

 

[Steventlk]

Hi,

Please find attached picture for matex site update. Seems um land is done with the foundation. Comments?

 

[shctaw]

Piling are done in more than 10 years ago.
It was abandon site. Hope it will complete this time round.

I think the only thing they did is chase out all the cars and fence up the parameter.

Hi,

Please find attached picture for matex site update. Seems um land is done with the foundation. Comments?View attachment 10380

 

[shctaw]

I think on the left of LKN building is the site for Midwest Ave.

Just on top of Matex in the picture.

Hi,

Please find attached picture for matex site update. Seems um land is done with the foundation. Comments?View attachment 10380

 

[invest888]

Piling are done in more than 10 years ago.
It was abandon site. Hope it will complete this time round.

I think the only thing they did is chase out all the cars and fence up the parameter.

Hi Shctaw, agree with you. There is really no different from what I seen beginning of 2013 compare to now, and really hope they are seriously do up this time. :-(

 

[Steventlk]

I think on the left of LKN building is the site for Midwest Ave.

Just on top of Matex in the picture.

Hi prof, think Midwest is much further down, after LKN, where the Panglobal is....

 

[shctaw]

This is the fun part of Malaysia ppty investing.

You never know the exact location of the damn place.

Hi prof, think Midwest is much further down, after LKN, where the Panglobal is....

 

[cybermad]

according to agent I spoke to , its just behind Matex when we stand facing jln wong ah fook.

 

[teoky]

Midwest is behind Shell station. It is along Jalan Trus.

There is also Europcar rental at that location.

 

[cybermad]

just thinking out loud...there are so many rundown buildings and small coffee shops along jalan wong ah fook which can be easily torn down to build condos. aren't u guys worried abt newer competitors ? if we buy now, our condo will be old by the time the RTS arrives.

 

[OracleMasia]

just thinking out loud...there are so many rundown buildings and small coffee shops along jalan wong ah fook which can be easily torn down to build condos. aren't u guys worried abt newer competitors ? if we buy now, our condo will be old by the time the RTS arrives.

The new building will boost Matex. More likely, it is more expensive than Matex unless property market crash. If you look at the masterplan for Jalan WAF, the nearby old bldg will torn and build into office, commerical. Only a few residential planned only.

 

[OracleMasia]

Midwest is behind Shell station. It is along Jalan Trus.

There is also Europcar rental at that location.

The location is not as good as Matex. One more important point is Matex is mixed development with hotel. In KL, such property in prime location commands a premium and usually do better.

 

[shctaw]

Hence must buy as early as possible.

If what you say became a true event; the price will hit higher and higher with each new launch.

just thinking out loud...there are so many rundown buildings and small coffee shops along jalan wong ah fook which can be easily torn down to build condos. aren't u guys worried abt newer competitors ? if we buy now, our condo will be old by the time the RTS arrives.

 

[cybermad]

Hence must buy as early as possible.

If what you say became a true event; the price will hit higher and higher with each new launch.

but our condo will be older n buyers like newer ones. btw have u all thot of who will buy from us ? I mean most locals will not have the means to afford such high priced condos...