Posted by Flintstones > 2017-08-11 18:21 | Report Abuse

The author tok cock la. I heard from his fren saying his sons r all purchasing rumahwip

Posted by TrippleZ > 2017-08-11 19:13 | Report Abuse

My friend with income 9K bought 1 terrace house and 1 condo. Cannot afford meh??? Life is tough lah but tomorrow he will buy new honda civic. LOL

Posted by Alex Foo > 2017-08-11 23:15 | Report Abuse

he want to buy bungalow? then yes, 9k is not enuf.

Posted by Alex Foo > 2017-08-11 23:17 | Report Abuse

after paid downpayment, dun forget cukai pintu, insurance, then most importantly is additional maintenance, furniture set, tiling, auto gate, besi tingkap, then also got fancy lamp, oh ya must install 2hp aircon, inverter version punya, i only take yoke ok?

hmm....9k not enuf.

Posted by ks55 > 2017-08-11 23:55 | Report Abuse

Malaysia still has most affordable housing available in this part of the world.
Why using 36 months' pay and not 50 months?
10k a month means you can borrow 500k, can go for a 550k house already lah (with 90% loan). His monthly installment only 2290 per month for 35 years.

The problem is when you are earning 10k a month, you want to buy a million ringgit house. Surely bank will reject your loan application.

One type of idiot just came out from university, working for three years already complaint he can't afford to buy a house.
Why not wait a bit longer, say work for 7 years, then you would have save enough for down payment, and your salary is good enough for you to qualify for bigger amount of loan?

Another type of idiot earning 10k a month, spent 2k on car loan (purportedly must get a car to suit his profession/ position). How to qualify for 500k housing loan?
You think bank won't check on your other commitment kah?

All in all, Malaysian still very fortunate to have so many choice to suit your budget, not like those in Hongkong when mortgage will take up 60% of their gross salary...........

Posted by ks55 > 2017-08-12 00:08 | Report Abuse

Posted by ks55 > Nov 23, 2014 11:17 PM | Report Abuse X

Compare apple with apple. Don't compare a 800sf apartment in S'pore with 2000sf terrace house in Malaysia.

To be fair, use 50 months gross median pay for Singaporean or Hongkist and 50 months gross median pay of Malaysian. See what type of dwelling they can buy, apartment vs apartment, terrace vs terrace, detached house vs detached house, urban vs urban, suburban vs suburban.

How many S'porean or Hongkist can afford to stay in landed property compared with Malaysian. See what is on per sq foot basis each S'porean or Hongkist can get for 50 months gross median pay. Hongkist doesn't go home after work, they just wondering on street and shopping mall simply because their home is too small and not comfortable.
Like it or not, Malaysian enjoy better accommodation than counterparts in S'pore or Hongkong.

http://klse.i3investor.com/servlets/forum/600064730.jsp

Posted by calvintaneng > 2017-08-12 00:09 | Report Abuse

Wrong lah

Total loan payment one third of salary is the norm

Example:

If salary Rm6,000

Monthly load is Rm2,000

At this rate you can afford a Rm500K house.

Simple as that

Posted by apolloang > 2017-08-12 00:09 | Report Abuse

wif interest rate so low in msia, cronies,datuk,tan sri's,wanna lend pun tak cukup,where got enough to lend to the public?

Posted by apolloang > 2017-08-12 00:14 | Report Abuse

kyy also wanna use margin to shore up stocks lagi mana cukup? interest rate in msia should be 5% instead of 3% now.msia is consider a non develop nation not like in the US interest only 1%.most banks now funds tak cukup because cronies using a lot,that's why bank Negara purposely put rates low.

Posted by apolloang > 2017-08-12 00:25 | Report Abuse

instead of lending to 1000 people banks are lending only to 1 individual that is kyy to shore up stocks.that is why economy cannot grow. rich become richer and stingy.

Posted by stockraider > 2017-08-12 14:08 | Report Abuse

Raider advice to property investors loh...!!

If u plan to invest in a property u must ask yourself the risk v reward same as investing in share loh...!!

For example if u plan to buy a house in Bandar utama for Rm 1.1 million & u borrow from the bank at 4.2% pa which work up to an opportunity cost of Rm 3850 per month in interest but if u can rent the property can be rented for rm 2300, u better think hard of renting loh ?
Certainly ur instalment, will be much higher, something like Rm 5500 per month loh....!!

So usually financially not worthwhile loh, the extra savings of not owning the property u can invest in equity and growth ur nest egg loh...!!

If u still want to buy property, start looking at property that cost instalment of rm 2000 to rm 3300 a month which is within ur current rental range loh...!!

Posted by ks55 > 2017-08-12 14:34 | Report Abuse

Blog: Seminar raises more questions about the state of property sector - thestar.com
Nov 2, 2014 11:45 PM | Report Abuse

Cost of putting up a house definitely will go up. To make profit, developer has to sell what ever cost incurred plus a profit margin. Probably sell at 10% to 16% higher as what calvintaneng said.

The only problem will be the purchasing power of disposable income(which may remain the same) to be eroded due to GST and hike in petrol price. Couple with impending interest rate hike, potential buyer will be eligible for lesser loan amount. This effectively place certain buyers out of reach. Consequent is lesser demand. When supply exceed demand, price will drop to a level to establish new equilibrium.

So if developer try to sell houses at 10% to 16% higher, less people buy.
Less people buy, developer holding more stocks.
It will come to a point when developer cannot hold on any more, then cheap sale coming.
Similar incident happened in 1986-88, 1996-99, 2003-04.
Probably next round will 2016-18.

Posted by ks55 > 2017-08-12 14:40 | Report Abuse

Sure?
You buy cement. No need to pay GST?
You hire lorry to ferry your sand. No need GST?
You pay for legal fees. No need GST?

Posted by ks55 > 2017-08-12 14:45 | Report Abuse

Now people cannot get loan.
Developer put on hold new housing project.
They are now selling at 13 to 20% discount, effectively wipe out their profit.

3 years down the road, all overhang properties sold.
No new one come to market.
Property price boom again.

So. What you must do?
Ask kcchongnz for proactive action.........just pay small amount of advisory fees will do.

Posted by ks55 > 2017-08-12 14:52 | Report Abuse

You think developer is so kind to absorb all GST charges?
Many people thought for residential property no GST incurred.
Just because developer don't add 6% GST to your S&P?

Buy sand must add GST.
Hire machinery must pay GST.
Developer can reclaim GST. Actual fact?
Govt want to collect money from you is easy.
You want to ask back money from govt is almost impossible.

Posted by ks55 > 2017-08-12 14:57 | Report Abuse

Yes.
All big developers have in house construction arms too.

So all no need to pay GST?
Consult custom department to find out more......

Posted by ks55 > 2017-08-12 15:02 | Report Abuse

Sure enough.
You must also know JB residential properties stagnant for 10 years?

It had just play a catch up game last few years.
In actual fact, already over-played..........

Posted by stockraider > 2017-08-12 15:06 | Report Abuse

The cost of construction gone up but not that up alot to cause house price skyhigh so much loh....!!

It is the cost of land thats gone up alot, and the stupid govt bureaucratic regulation that impeded an efficient housing mkt loh...!!

Thus house cost is high loh....!!

Posted by katappa > 2017-08-12 15:20 | Report Abuse

No GST is purely Tomato's personal view....it is not so accurate in my opinion.

Developer don't construct the houses, developers tender it out & award it to the builders to construct.

Building materials bought by builders are subjected to GST , main-con & all sub-cons progressive claims subjected to GST..The claim on developer have internal material division is true but they can only enforce the builders to buy from their material division. the price is not competitive & still subjected to GST. Developer material division need to pay GST also.

The tender prices for the same RM / sq.ft have been on the uptrend , never coming down. There were a few incidents of sudden revision of tender price in the market. If I could recall it clearly...year 2010 & 2014 recorded the most significant jump in contract bidding price, most projects budget went burst....the developers were crucifying the the poor QSs for explanation.

in short, developer will take the final construction cost = (awarded tender + authority contribution + consultant / management fees) x profit margin

The awarded tender already subjected to GST. Only when selling the unit, the GST cannot appear on the SPA for unit protected under HDA ( houses / residential ). If you are buying commercial units, you are still subjected to GST during SPA.

GST inflated the building cost = true statement.

Posted by katappa > 2017-08-12 15:23 | Report Abuse

On the title of discussion, buy what you can afford. No one ask you to buy what you cannot afford. If earn RM 3k /month but want to buy high end semi-D or bungalow at major cities sure kena kantoi. Head not big, don't get a big hat.

Posted by calvintaneng > 2017-08-12 15:40 | Report Abuse

Tell you guys what Calvin saw this past week

1) One kueh seller left his shop for his daughter to manage. He left for work in Singapore

2) One hairdresser joined her husband going to work in Singapore. Her husband already worked in Singapore as an aircond technician

3) One clerk switched her job to Singapore

4) One by one more and Johoreans are going to Singapore for work as conversion rate is now

S$1.00 to Rm3.15

Same type of job. About same type of pay.

But 3.15 TIMES MORE. So the daily traffic jams is worth it. After all they go in a group together back and forth.

Now what happens to the purchasing power in Johor?

Last time only Rm2,000 in Johor. Hardly got enough after house rent & car loan.

Now S$2,000 = Rm6,450

So can qualify to buy a house worth Rm500K. And the similar house in JB is selling at Rm700K in KL or Rm900K in Penang

So the Johor people are now enjoying the best of 2 worlds

1) JOBS THAT PAY IN SING DOLLARS
2) HOUSE PRICES CHEAPER THAN KL & PENANG BY 40% to 70%!!

So the happy people of Johor will get wealthier and wealthier all the time!

So?

MIGRATE TO JOHOR NOW!!

Posted by Alex Foo > 2017-08-12 15:44 | Report Abuse

yes, i have friend every 6 months or a year will tell me and say 'alex, i'm going singapore d...'

wish them huat.

Posted by ks55 > 2017-08-12 15:48 | Report Abuse

Affordability should measure on unit cost basis. If cost of landed house is 350psf, a single storey terrace with build-up of 1000sf will be 350k, double storey with build-up 1500sf will be 525k. It is definitely affordable by those earning 6k and 10k.
The problem is those who earn 6k want to buy 2 storey house cost 525k, and those who earn 10k want to buy 2500sf house that cost 875k.

For city dwellers, landed is always around 500 - 1000 ringgit per sf. To buy a 2000sf house will cost at least 1 million. Definitely this is not what city dweller should aim for. They must be more realistic, apartments (Condo) around rm 600 to rm 1000 psf are still available. For 1000sf apartment, entry price is 600k. If you earn 10k a month, buy one 1000sf apartment. If you earn 6k, buy a 750sf apartment.

Rule of thumb is to buy a house with 50 months gross salary. Earn more can buy bigger house. Earn less then buy a smaller house. Bounds to have a house that suit your budget. House price in Malaysia is still affordable

Posted by katappa > 2017-08-12 15:50 | Report Abuse

If you all common ppl here are thinking ordinary , normal thinking - normal way to buy you dream house. You will be complaining non-stop.

Go mix with ppl, expand our social circle, talk to ppl from different profession, get the ideas how they do it.

during the good all days, when bank negara haven't clamp down the borrowing criteria. MR X from developer S bought 10 units of houses ( landed ) with his less than 4 digit salaries. His superiors ( Project Manager, Project Director, General Manager) earning more than him were all in disbelieved how his staff did it.

Mr. X placed order on unit no.1, go apply loan from bank A . Place order on unit no.2, go apply loan from bank B.....continue to the rest of the of the 10 units. He get all the offers, signed all the loans at the same time. During construction periods, Mr.X served only the interest / 0% scheme during construction.

Once the units ready, he immediately flipped. Bought 10 units, sold 5-6 units, balance 4-5 units he got it free after settling all the bank borrowing.

Of course, that WAS the story of the good old days, when market was good & BNM haven't clamp down such practice.

Mr.X is still the legend in the company. They call his full time property investor & part time company staff.

There are still way to do it, you just need to find out how? Stop complaining.

Posted by stockraider > 2017-08-12 15:50 | Report Abuse

Raider think this way loh....!!
Says u make Rm 9k so u go to SPORE work u get Sgd 7500 per month...would this make u rich ?
No loh !!

Bcos SGD 7500 per month is nothing, u cannot survive living in SGD..!!
So u travel up n down JB -Spore everyday wake up 5.30am reach home 10.00 pm loh....!!

Yes more money...but hard monies...no time of thinking...other money making opportunity loh...!!

Posted by calvintaneng > 2017-08-12 16:00 | Report Abuse

Posted by stockraider > Aug 12, 2017 03:50 PM | Report Abuse

Raider think this way loh....!!
Says u make Rm 9k so u go to SPORE work u get Sgd 7500 per month...would this make u rich ?
No loh !!

Bcos SGD 7500 per month is nothing, u cannot survive living in SGD..!!
So u travel up n down JB -Spore everyday wake up 5.30am reach home 10.00 pm loh....!!

Yes more money...but hard monies...no time of thinking...other money making opportunity loh...!!

True if you are matured 40 years old and above.

This is what happened.

A young graduate fresh from school gets a Job in Spore. Travel daily back & forth. But in 10 to 15 years can get enough experience, saved enough to start own job and be own Boss in JB. Also own 2 to 5 properties at the same time.

I met many such people.

In one place called Taman Redang one of my Retired Friend has a house there.

He heard that someone in his small G&G neighbourhood is driving a brand new Merc Benz. So being curious he asked the Security Guard.

They told him the guy who drove the MERC BENZ actually works as a Bus Driver in Spore. I think no other Bus Driver anywhere in Malaysia could afford to drive a New Merc Benz

See
http://www.johorinvestment.com/the-inevitable-rise-of-iskandar-as-the-next-shenzhen/

Posted by katappa > 2017-08-12 16:02 | Report Abuse

Tan Sri Calvin Tan....I got a few friends working at Sgp, staying at JB. Going on/off Causeway daily...every late evening, I see them cursing in their FB...traffic jamn. Even the new link don't do any help.

reach home 10-11pm daily, next day as early as 4am already queuing in the jamn at Custom . This is not life, this is torment.

Singapore have their own problems. Don't just look at the good side of 3.15 multiplier and ignore the ugly side.

Posted by calvintaneng > 2017-08-12 16:06 | Report Abuse

katappa

I used to drive to JB. Now no need. Causeway link Bus is a breeze. Causeway Link started with 8 buses. Now they have 700 Buses plying JB & Spore routes.

So just get up early. No stress once you are on the Bus

And I enjoy watching the Boom all over Johor. Lately everywhere starting to have traffic jam

Posted by John Lu > 2017-08-12 16:09 | Report Abuse

Huh? Calvintaneng holland and lose all until need sell car? Haha...no wonder now u take bus...lolololol

Posted by calvintaneng > 2017-08-12 16:14 | Report Abuse

Haha!

Bad temper John Lu don't know Billionaire also take bus

SEE

http://archive.fortune.com/magazines/fortune/fortune_archive/2004/05/03/368549/index.htm

Posted by John Lu > 2017-08-12 16:15 | Report Abuse

Diu...compare u with a billionaire is a shame...-2.1%, go die la u

Posted by calvintaneng > 2017-08-12 16:16 | Report Abuse

Haha! -2.1%?

Made 400% in DRB C30, DRB & Mj Perak lah!

Posted by calvintaneng > 2017-08-12 16:21 | Report Abuse

Posted by ks55 > Aug 12, 2017 04:16 PM | Report Abuse

@ katappa --

Yes. I can across such cases.
Many flippers buy not only one. They buy up limit up to their loan entitlement.

You know what DIBS did to all these flippers?
DIBS was first introduced 4 years ago by so-called innovative developers including Mah Sing. Just go and check out icon by Mah Sing to see the gravity of such problem right now!

After paying 10%. They can just goyang kaki for next 48 months.
Hoping to flip in between.
Sad story sets in.
Earlier wanted to sell higher price, not making no selling.
Now Vacant Possession give, want to sell, no buyer.
Sell at a loss, no buyer also.
Want to rent out, no tenant.
Want to pay installments, cannot afford to make ends meet.
This is a true story, not a make up.
Just ask around, probably you will come across someone facing such a situation.

Calvin thinks this applies to

1) HIGH RISE CONDO PRICED RM600K TO RM1 Millions in Iskandar. Those who bought bulk will face deep trouble.

2) High Priced Houses in Not So Good Location not so Accessible. Hard to get tenants.

As a rule GO FOR LANDED PROPERTIES BELOW RM500K

For Condos go for Average Priced Ones in GOOD LOCATION. Can get tenants.

So there are 2 Classes of People

One buy blindly.

One stay focus on bread and butter properties with demand

Posted by ks55 > 2017-08-12 16:24 | Report Abuse

@katappa --

Yes. I came across such cases.
Many flippers buy not only one. They buy limit up to their loan entitlement.

You know what DIBS did to all these flippers?
DIBS was first introduced 4 years ago by so-called innovative developers including Mah Sing. Just go and check out icon by Mah Sing to see the gravity of such problem right now!

After paying 10%. They can just goyang kaki for next 48 months.
Hoping to flip in between.
Sad story sets in.
Earlier wanted to sell higher price, not making no selling.
Now Vacant Possession given, want to sell, no buyer.
Sell at a loss, no buyer also.
Want to rent out, no tenant.
Want to pay installments, cannot afford to make ends meet.
This is a true story, not a make up.
Just ask around, probably you will come across someone facing such a situation.

Posted by stockraider > 2017-08-12 16:43 | Report Abuse

Answer: They should rent a room in Singapore! They doing it wrong!

Renting just a room will cost SGD 2200 to 3000 a month thus if u earn Sgd 7500...already 40% of your income goes to rental loh..!!

Thats why people are willing to commute from jb daily loh...!!

Posted by Unicorn > 2017-08-12 16:48 | Report Abuse

Stockraider you got RM4m right.. So you drive Benz or Proton?

Posted by stockraider > 2017-08-12 16:53 | Report Abuse

Raider just drive an old faithful myv...loh...!!
Why spend unnecessary on cars a depreciating assets leh ?

The money u save on luxury can put to good use & earn more monies mah..!!

Never never over spend...a $ save is a $ earn loh....!!

If u cannot earn alot of monies...just try to save alot of monies loh..!!

Posted by Unicorn > 2017-08-12 17:08 | Report Abuse

Yeah Stockraider is loaded yet down to earth! :)

Posted by Unicorn > 2017-08-12 17:11 | Report Abuse

Stockraider how do you see this?

http://www.scmp.com/news/china/economy/article/2106216/hundreds-try-withdraw-savings-after-rumours-start-run-chinese

http://www.forexrepository.com/news/state-bank-of-india-shares-tumble-as-bad-loans-persist.htm

A little bit like Northern Rock before the collapse of Lehman Brothers?

Posted by stockraider > 2017-08-12 17:22 | Report Abuse

U must understand banking in china loh...!! The solid bank in china are;

ICBC
Bank of Construction
Bank of China
Bank of Construction
Bank of Agrilcultural

If any of this big 5 face distress u worry loh...!!

This is bcos China has many small small FI some are not solid...if collapse not much impact bcos very tiny loh...!!

Posted by Unicorn > 2017-08-12 17:24 | Report Abuse

Oh... I thought Northern Rock also tiny before the collapse of the huge Lehman..

Posted by cheated > 2017-08-12 17:30 | Report Abuse

What to do? B Puri, Texchem, BJ Corp etc drop so much ma.

Posted by John Lu > Aug 12, 2017 04:09 PM | Report Abuse
Huh? Calvintaneng holland and lose all until need sell car? Haha...no wonder now u take bus...lolololol

Posted by katappa > 2017-08-13 11:01 | Report Abuse

@ks55

As I said, the good old days was gone after BNM clamping down the loophole. The story I mentioned was not about limit up the loan to max but it was about over the limit allowed. The record of borrowing only showed up after 3 months, by that time, all the loan offers signed and there was no action by BNM last time. Now bank can revoked the loan offered if found the borrowers are doing such.

The idea was so bold & daring at that time, not many ppl ever think of it then. The concept is doing thing when no body aware of the idea. Don't wait until everyone doing the similar, by that time, there will be counter measurements. Bankers got a lot of ideas in their sleeves, only matter how close are you with them for them to teach you.

When everyone else starts doing the same with property market softening, of course like you stated....when cannot serve the loan, just a matter of time for banks repossession.

Still, it is not end of the world, there are still ways to own your dream house. Ppl just have to find out.

The major hindrance for ppl to buy a house is the upfront 10% down payment for the majority. You just have to figure out how to clear this obstacles. You cannot save to get this 10% because as the time pass, the initial 50k down-payment for unit worth 500k will have gone up, forever you are saving for the 10% down payment.

Posted by stockraider > 2017-08-13 11:21 | Report Abuse

This is a problem mah....!!
If u want to buy house cannot even come up with !0% downpayment, u can see how is the quality of the buyers ?

Normally those who cannot come up with 10% are young people or people who have too much commitment still want to buy house loh...!!

In fact raider see, banks should ask the buyers for at least 25% to 30% for the buyer equity, then bank can consider finance the balance loh..!!

In china the buyer need to come up with 30% to 60% of the purchase price b4 the bank would lend loh..!!

If those do not have so much capital, it best they rent 1st and accumulate their savings to have enough equity to buy house mah....!!

A high credit exposure with too low equity by buyers not good for the country & banks loh....!! Subprime happen this way loh...!!

So those property developers who are stucked with too many unsold properties should start thinking of letting it out loh...!!
Part of reasons of developer stucked is bumi stock loh...this is unhealthy and a drag to country resources loh...!!

Posted by ks55 > 2017-08-19 14:10 | Report Abuse

When is the best time to buy a house?
This is the same question as when is the best time to buy share.
Just apply buying strategy for share purchase to that of buying a house.

Buy good share cheap as kcchongnz has been telling you all this while.
So, buy good house cheap is the theme of the decade.

Why houses is considered cheap now?
Can it be cheaper next year?

What constitute good house?
Is it in KLCC vicinity?
Or at BBCC?

Then consider what is a good buy to suit your needs.
Big house?
Small house?
Big pent house?
Small studio?


Just give you an indication if price come within market expectation, people won't let the decade long opportunity to slip away, just like Singapore EC along Yio Chu Kang Rd selling at S$834 psf.
Please take note Yio Chu Kand is not far from Punggol New Town in north eastern Singapore.

http://www.thestar.com.my/business/business-news/2017/08/16/singapore-executive-condos-chalk-up-bumper-sales