SOS Read this before you INVEST in Stocks
SOS Iskandar's property glut AGAIN?
sosfinance
Publish date: Sun, 17 May 2015, 02:12 PM
sosfinance
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VALUATION DOES NOT DETERMINE THE PRICE, IT'S JUST A TOOL TO ESTIMATE A VALUE OF A BIZ
www.sosfinancialplanning.blogspot.my
"How do you save RM50,000? - I shared with a friend on how to do it. I got a term life for RM280 p.a covering RM100k until 70 years old. I cancelled my wholelife insurance of RM2,800 p.a. for the same coverage up to 100 years old. Save RM2500 p.a x 20 years = RM50,000. (PM0122037325)
.....IS THIS ARTICLE FAKE OR FACT?? ANYONE CAN CONFIRM?
www.sosfinancialplanning.blogspot.my
"How do you save RM50,000? - I shared with a friend on how to do it. I got a term life for RM280 p.a covering RM100k until 70 years old. I cancelled my wholelife insurance of RM2,800 p.a. for the same coverage up to 100 years old. Save RM2500 p.a x 20 years = RM50,000. (PM0122037325)
.....IS THIS ARTICLE FAKE OR FACT?? ANYONE CAN CONFIRM?
RECENT PAPERS SAID
MB said, no more approval of new serviced apartments. Those which is approved but not executed within 18 months, the approval will not be renewed.
MP (from BN) in Johor State mentioned, Iskandar is misunderstood. It is suppose to cater for education, medical and oil and gas services sectors, not mainly residentials (referring to serviseed apartments or condos). So, the condos, is 5-10 years ahead of time, way ahead of the education, medical and oil & gas sectors. Alamak, after approved so many developments, now you say glut? Demand is there, but for affordable homes, not the luxury units being built.
Singapore also warn their people about iskandar.
Recent launched by a Chinse developer, sold 1,000 out of the 6,000 units launched.
Mah Sing MD said, properties will recover in six months.
Also read in Singapore that many units of HDB flats being built (S$800,000), the higher end HDBs.
IMPACT ON THE ECONOMY
Well, not to worry, most of the buyers of Iskandar, I believe is from Singapore. For them, they pay RM800k, in Singapore, they have to pay about 3 times more, and own a HDB without swimming pool or other facilities.
There won't be much impact other than slowdown in construction projects over the next few years.
IMPACT ON STOCKS
Good. One casino close down, another casino wlll do well. But, but, due to the Chinese anti-corruption drive, Genting Singapore's profits dropped 73%. For Malaysia, there will be a small shift from properties to stocks. Mainly due to difficulty in obtaining loans. So, don't be shock if some stocks go up.
YEAR LONG DEBATE
Government seldom mention property glut until it is too late. So, it is too late.
MY UNDERSTANDING
The number of condos or serviced apartments in the pipeline is about 30x larger than Mont Kiara. I believe it may take longer than the investors for their units being rented or sold. Delay your expectation for perhaps a few more years down the road. So, how soon the condos will be occupy depends on the service sectors in Iskandar.
Those units that is above RM1.0 million and other luxury types will be a concern. Not sure the price can sustain. There may not be much in the secondary market since loan is hard to come by.
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Discussions
1 person likes this. Showing 10 of 10 comments
I have mention this beforehand! That there's too much high end condos built! It's only half the truth! The affordable range are under serve!
2015-05-17 15:48
hi calvin, how are you? Is the price of landed property in iskandar lower than those landed in bukit indah, mount austin and setia tropika? basical which area better for own stay and long term resell value?
2015-05-17 16:14
Huge Demand at JB High Court Auction Only Few Weeks Ago
One One and Half Storey House Came Out For JB High Court Auction. Location Jalan Undan Area in Taman Perling.
Reserve Price was RM200,000
Last time I didn't even bid for 2 which came out for Auction at Reserve Price of Only RM125,000 each.
The Current Market Price?
From RM350,000 to RM380,000.
One Lady House Agent Just Sold hers for RM350,000 in the open market.
So At RM200,000 It Is Really Cheap.
So?
So on the day of Auction 40 people turned up at JB High Court.
Final Bid Price?
An Amazing RM420,000. Even higher than the open market.
A Single Storey at RM420,000 might seem to be a high price in JB Currently.
But a smaller single storey house in Bangsar is now going for about RM1 million.
So relatively JB Is Still Very Cheap even for a 1 1/2 Storey House.
SO THERE IS A PENT UP DEMAND FOR LANDED SINGLE, DOUBLE, SEMI D or BUNGALOWS IN ISKANDAR.
THIS IS THE STARK REALITY THAT SHOW GREEDY DEVELOPERS REFUSING TO BUILD LANDED PROPERTY BUT ONLY GO FOR HIGH END CONDOS TO MAXIMIZE PROFIT IN ISKANDAR.
2015-05-17 16:17
ks55
Mutiara Rini by Boustead is a quality township developer. Though it is a little further away.
When I visited their Office a year or two ago I saw people from KL. PJ and as far as Penang placing booking for their landed houses at a price of around RM450K. Reason is. They might send their children to Singapore for education.
Even my Friend Mr. Law the Osk Iskandar Top Boss has bought a house there, A BIG TESCO HAS JUST OPENED. OTHERS WILL FOLLOW.
The 2 storey houses are now going between RM500K to RM700
2015-05-17 16:47
but there are still a lot of ignorant and arrogant people refuse 2 look at the cheap and well maintained 2nd hand units around the area. if people buying houses 4 own use, they can still find it in ULU TIRAM areas, after all, the big shopping malls,banks and schools etc. are within a distance of a few km.
2015-05-17 23:06
I have seen hypermarkets "close down" or "taken over" or "business turn bad". unlike many years back, we now have many many hypermarkets every where. It was reported in Klang Valley, there are about 150 big shopping complex around.
Not sure the retails are doing well, but I definitely cannot go to the same one as frequent anymore. In Damansara Utama (PJ), you have One Utama, Tropicana City, Paradigm, Empire City (later), The Curve and Ikano, now New Atria. So, I cannot go to the same Nandos in One Utama anymore, sometime I go to SS2, Tropicana City, The Curve. Next will be New Atria. So, retail biz is going to get tough. Even Solaris Mont Kiara, I notice some of the better cafe/F&B shops changes now and then when Solaris Dutamas, might have taken the shine out of its brother.
Unless, employment income goes up steadily, one person can only eat at one restaurant at a time. There are many good one around (referring to PJ).
2015-05-17 23:59
Pricing and location. Medini Zone A with properties below 1million is still strong.
2015-05-18 08:20
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Post removed.Why?
2015-05-17 14:48