Please explain , govt has taken over SP Setia. I am a buyer for their condo in Sky Gdns, wasnt aware govt has taken over SP Setia.What does it mean? Bought over as in majority share? Who exactly? Khazanah?
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New developments to share
- Thread starter wuqi256
- Start date
Please explain , govt has taken over SP Setia. I am a buyer for their condo in Sky Gdns, wasnt aware govt has taken over SP Setia.What does it mean? Bought over as in majority share? Who exactly? Khazanah?
it's not just takeover.. is...
http://www.theedgemalaysia.com/property/235296-the-s-p-setia-story.html
http://www.theedgemalaysia.com/property/235296-the-s-p-setia-story.html
Things are certainly bubbling, RM1 million for a cluster is considered cheap!
99LH landed properties in Singapore are going to sell at least S$4 mil next year. As long as the prices of landed properties in Singapore rises, Johor's landed property prices will also rise. So S$0.4 mil for a freehold landed property is cheap
http://www.todayonline.com/business/property/s366m-top-bid-landed-housing-site-coronation-rd
Things are certainly bubbling, RM1 million for a cluster is considered cheap!
ya, it was one quarter of the price 7 years back. Paying the price of a bungalow but getting a cluster.
bubbling effect, pls think before commit.
As for Eco world development, i believe it can sell very well because it is very HOT now.
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Bank Negara is studying the risks arising from DIBS with a view of potentially imposing curbs on it
Posted on June 25, 2013 - Featured, Property News.
By GURMEET KAUR
[email protected]
PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said.
Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be “later this week”, adding that such a move would be a negative for future sales in the primary property market.
Other industry players think that the measures might be introduced in the second half of the year.
DIBS has become a popular easy financing package offered by property developers in joint-promotion activities with banks in recent years.
Under the scheme, buyers need not fork out much initial downpayment to buy properties, as the developer supposedly absorbs the initial interest. This is until the buyer takes possession of the property.
A high number of buyers enter this scheme with the intention of flipping the property when they gain possession of it, making a profit without having to come up with much capital in the process. Such a scenario fuels speculation.
“Typically, under the scheme, buyers only foot between 5% and 10% of the house price upon signing the sale and purchase (S&P) agreement and only begin payment when the project is completed,” a property consultant told StarBiz.
“There are caveats to this scheme, as buyers commit to a financial obligation upon the signing of the S&P and the interest cost has actually been already passed on to buyers via the higher selling prices.”
DIBS is mainly offered to the high-rise residential segment. Some property consultants have opined that the presence of DIBS in the market has caused prices to be set on an artificially higher trajectory.
Notably, the Singapore government banned DIBS in 2009.
“While the exact measures are yet to be revealed, we believe the curbs would impact this easy financing scheme,” HLIB said in a note yesterday.
According to analysts, most of the sales in the recent property bull cycle were tied to the attractive DIBS scheme at the expense of the secondary property market which has remained sluggish. And given the persistent rise in household debt, the Government is mulling over measures to limit it.
“In the recent past, Bank Negara has been compiling information on the scheme and studying its impact on the sector,” a source said.
Bank Negara had yet to respond to StarBiz’s queries as at press time.
“The difference between the non-DIBS and DIBS pricing can range from as low as 5% to as high as 30% if other incentives like early-bird discounts, stamp duty waivers and cash payments are taken into account,” said Elvin Fernandez, managing director of Khong & Jaafar group of companies.
He advocates regulators to compel developers to be transparent on the various incentives, as it may be difficult to do away with DIBS packages.
“Developers should inform buyers and bankers of the actual value of the discounts they are getting so that house buyers know the true value of the house they are buying,” he said.
UOB Kay Hian Research noted that new launches in selective high-rise projects in the suburbs of the Klang Valley were transacted at over RM1,000 per sq ft (psf) vis-a-vis RM450 psf two years ago.
“Household debt has risen to 80.5% of nominal gross domestic product as at end-December 2012, up from 60.4% as at end-2008.
“We also note that outstanding banking sector loans in the household sector has risen 3.6% year-to-date as at end-April to RM638.5bil from RM616.5bil as at December 2012. As the rise in consumer credit is partly linked to housing, curbs may be introduced to dampen speculation,” UOB Kay Hian said in a report yesterday.
On the financial impact of curbing DIBS on property companies, HLIB said that it would be “negative for future sales in the primary market but the extent of damage varies with the degree of exposure to the high-rise segment for each individual developer”.
UOB Kay Hian reckons that if DIBS or similar schemes were to be tightened, it could “significantly dampen new property launches as speculators will be filtered out”.
The company also does not rule out the possibility of a further upward revision in real properties gains tax (RPGT) to dampen speculation.
In Budget 2013, the Government had raised the RPGT for the second time since 2011, stipulating a 10% to 15% tax for the disposal of properties within two years of purchase, and 5% to 10% for the disposal of properties within three to five years. However, properties sold five years after purchase are exempted from the RPGT.
Posted on June 25, 2013 - Featured, Property News.
By GURMEET KAUR
[email protected]
PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said.
Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be “later this week”, adding that such a move would be a negative for future sales in the primary property market.
Other industry players think that the measures might be introduced in the second half of the year.
DIBS has become a popular easy financing package offered by property developers in joint-promotion activities with banks in recent years.
Under the scheme, buyers need not fork out much initial downpayment to buy properties, as the developer supposedly absorbs the initial interest. This is until the buyer takes possession of the property.
A high number of buyers enter this scheme with the intention of flipping the property when they gain possession of it, making a profit without having to come up with much capital in the process. Such a scenario fuels speculation.
“Typically, under the scheme, buyers only foot between 5% and 10% of the house price upon signing the sale and purchase (S&P) agreement and only begin payment when the project is completed,” a property consultant told StarBiz.
“There are caveats to this scheme, as buyers commit to a financial obligation upon the signing of the S&P and the interest cost has actually been already passed on to buyers via the higher selling prices.”
DIBS is mainly offered to the high-rise residential segment. Some property consultants have opined that the presence of DIBS in the market has caused prices to be set on an artificially higher trajectory.
Notably, the Singapore government banned DIBS in 2009.
“While the exact measures are yet to be revealed, we believe the curbs would impact this easy financing scheme,” HLIB said in a note yesterday.
According to analysts, most of the sales in the recent property bull cycle were tied to the attractive DIBS scheme at the expense of the secondary property market which has remained sluggish. And given the persistent rise in household debt, the Government is mulling over measures to limit it.
“In the recent past, Bank Negara has been compiling information on the scheme and studying its impact on the sector,” a source said.
Bank Negara had yet to respond to StarBiz’s queries as at press time.
“The difference between the non-DIBS and DIBS pricing can range from as low as 5% to as high as 30% if other incentives like early-bird discounts, stamp duty waivers and cash payments are taken into account,” said Elvin Fernandez, managing director of Khong & Jaafar group of companies.
He advocates regulators to compel developers to be transparent on the various incentives, as it may be difficult to do away with DIBS packages.
“Developers should inform buyers and bankers of the actual value of the discounts they are getting so that house buyers know the true value of the house they are buying,” he said.
UOB Kay Hian Research noted that new launches in selective high-rise projects in the suburbs of the Klang Valley were transacted at over RM1,000 per sq ft (psf) vis-a-vis RM450 psf two years ago.
“Household debt has risen to 80.5% of nominal gross domestic product as at end-December 2012, up from 60.4% as at end-2008.
“We also note that outstanding banking sector loans in the household sector has risen 3.6% year-to-date as at end-April to RM638.5bil from RM616.5bil as at December 2012. As the rise in consumer credit is partly linked to housing, curbs may be introduced to dampen speculation,” UOB Kay Hian said in a report yesterday.
On the financial impact of curbing DIBS on property companies, HLIB said that it would be “negative for future sales in the primary market but the extent of damage varies with the degree of exposure to the high-rise segment for each individual developer”.
UOB Kay Hian reckons that if DIBS or similar schemes were to be tightened, it could “significantly dampen new property launches as speculators will be filtered out”.
The company also does not rule out the possibility of a further upward revision in real properties gains tax (RPGT) to dampen speculation.
In Budget 2013, the Government had raised the RPGT for the second time since 2011, stipulating a 10% to 15% tax for the disposal of properties within two years of purchase, and 5% to 10% for the disposal of properties within three to five years. However, properties sold five years after purchase are exempted from the RPGT.
.......
Even without DIBS, can the price ever come down? rocket high 1000psf ++
What kind of measure can stop this kinda rocket?
Alot of risks to enter at high psf becos 1-2 years back, most projects at 300-600psf only.
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Reality is some ppl spend RM150K for renovation, while others spend more. There is no distortion. Like I said before, it's just a reminder to look at more than psf cost alone.
I think is very very very rare..
Unless the owner add gold-plated washing basin, toilet bowl, etc
or unless the work is not just renovation.. is revamp the whole house
Dear all,
I understand from our sponsors that TGP (Trans Global Sdn. Bhd) will have new launches incoming in the month of July:
More information, please contact:
http://www.tgp.my/home.php
+607 5581977
I understand from our sponsors that TGP (Trans Global Sdn. Bhd) will have new launches incoming in the month of July:
More information, please contact:
http://www.tgp.my/home.php
+607 5581977
Hi Brother Wuqi,
This seem to be a re-sale/rent makert web site. What do you mean by new launches?
Bro Wuqi,
Please share more as alot of bro here is interested in your good deals and group buys.
I still waiting for your PM of group buy.
We are sure you are here to advice and help us to get a dream home.
For speculators, I would say everything is Risky now if you are thinking of flipping properties.
Nobody can predict the future prices given chances of over-supply.
Eg. some properties selling at a loss:
http://www.isniffy.com/ad/the-avare-condominium-klcc/
Good Luck to all!
generally 1 horsepower air-con runs on about 5amp on single phase. You can assume that to calculate how many horse power and air-con to install. I overlooked this and had too many air-con (4 air-con) on my 2nd storey with 40amp single phase and the breaker was slightly melted.
hmm.. i alway thought double storey house is with 3phase 64 amp on 1st storey and 1 phase 40amp of 2nd? no?
Not too sure. I'm not staying there so single phase is still more than sufficient for me. But long-term wise I will upgrade, probably in a few years' time.
means Rosmah could have another diamond to wear lo.. PNB is a big conglomerate la.. no issue on completion.
Service wise.. you share with us the post-construction maintenance and security after you get your house?
http://www.pnb.com.my
this is PNB website, You can get to know more about them.
Sure, when Sky Gdns VP, likely early next year.
Paradiso Nuova vs Iskandar Residences
Both same location in Medini, which is a better buy? The agent told me that Paradiso Nuvoa is going at average RM950psf, while Iskandar Residences going at RM750psf. I had a friend that bgt Iskandar Residences. That's alot of diff in price. The only visible difference is the furnishing.
Anyone can shed any light?
Both same location in Medini, which is a better buy? The agent told me that Paradiso Nuvoa is going at average RM950psf, while Iskandar Residences going at RM750psf. I had a friend that bgt Iskandar Residences. That's alot of diff in price. The only visible difference is the furnishing.
Anyone can shed any light?
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