Stockman blogs
the case of over supply - JB apartment units
stockmanmy
Publish date: Thu, 07 Dec 2017, 03:24 PM
stockmanmy
0 76
Trade at your own risk. I am here only to vomit out my feelings
We have all heard about it. The case of oversupply of properties in Malaysia., of which , JB alone accounts for 40% of the of the unsold units completed and at various stages of completion.
We see thousands of new units of apartments in JB at various stages of completion. See any office buildings? any commercial office buildings? Why none?
No jobs are being created, who is going to occupy those apartments? Johor people are quite rich, many of those units will be sold....but no one is going to occupy those apartments. And that is the reality.
Who are all these developers so brave to build all those apartments? and the local authorities who approve the projects? and the property consultants who promoted JB and Iskandar as the best investments.?
The premise of Puteri Harbor and Forest City are holiday homes for China citizens and Singaporeans. The premise of city center apartments are for people working in Singapore and staying in JB.
I have seen plenty of holiday homes projects in my life time, and they have all failed. And as for the latter, what kind of life is it for a worker to stay in JB and work in Singapore?
What I am getting at is the crowd psychology.
Crowd psychology has prevented people from seeing the obvious until it is too late. The same applies in stock market too. Be careful of crowd psychology. Learn to stay detached, stay independent, stay curious,
No wonder developers, contractors and steel players such as AYS and MASteel are some of the worse performers in recent months.
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