Challenging and uncertain for property. Impending taxes expected in the budget next month will definitely affect ppl buying power on big tickets item like property. It will go on downtrend for now for the whole sector
1) the 10% discount is already currently being offered to clear stock anyway.. unsold properties and even new ones are given discount. No impact.. 2) the free stamp duty is a positive news... Although not much. Again this is probably paid by property companies already as a discount (free stamp duty right c).. But this time it's free from the government... So, property developer can either profit from stamp duty savings or they can choose to maintain their stamp duty 'allowance' and convert it to extra discount for buyer. 3) additional p2p financing... This is potentially the biggest changer... A lot of problem is because bank have restriction on financing.. now property investors used to buy house n sell. For these investors, they cant flip because maybe rpgt impact is a bit more now, but clever investors can still profit as they can now borrow money to other people to buy house. Instead of paying 60k and get loan etc under your name, you can now use the 60k to loan to other ppl who want to buy house... Potentially a big win win.
Developer no need,to absorb stamp duty is one,thing. Wethet it atract investor to buy is another thing. Since b4 the budjet, there oredi got tis kind of freebies, to me there is nothing neW. Worse, now got rpgt
Will you give loan to people you don't even know, even bank is monitor very tight now, problem is a lot of unsold unit overhang out there, now is stock more than demand. They already reduce the price more than 10% since last year, but property market still very slow, not easy to sell.
Why so negative.. there r so many ppl still want to buy the property...now the budget 2019 encourge ownership for first time buyer will definately put mahsing at the stage once again
No need to pay stem duty meaning developer no need absorb the stem duty lo.. no sst on building material n no stem duty.. developer can nw reduce the price lor
Ioi ceo said wont reduce px but increase instead. Mana blh simply simply reduce px. They oredi built very expensive house, n now ask them to reduce px for new house. Wat hapen to existing owners? Not fair. How r they going to sell their properties if new cheaper house exist in their taman. How r they going to sell their old unsold units?
1. Land cost is very high. Most development land were bought recently at prevailing price.
2. Interest on the rise. Cost of holding on to the development land become more expensive.
3. Bank reject most housing loan above 800k. Mahsing in this category whose potential client can"t afford bank loan.
4. Mahsing was very aggressive with DIBS 5 years ago. All those who bought Mahsing properties can't flip and can't pay installment. All waiting for bank lelong.
5. Most property developed by Mahsing and marketed under DIBS all become ghost city. Buyers can't afford even management fees and JMB is running like headless chicken. Only way is to reduce scope of maintenance job, and that make unsold Mahsing properties degrading at alarming speed.
6. LGE as Finance Minister is brainless when he first introduced RPGT for every property sold at 5%, even if you have held that property for 30 years. Then quickly he told the whole world the next day, first property sold after 5 years exempted from RPGT. Regardless whether is for upgrading from starter shoe-box home, or downsizing for the senior citizens with empty nest, all are pushed away from this idiotic policy. Why can't LGE just deter speculator by imposing moratorium at 10 years instead of killing all those dreamed for starter shoe-box home, and those seniors who need some extra cash for their golden years?
7. So what are you waiting for? There will be less people buying into expensive home developed by Mahsing. There will be less people going for downsizing (and right sizing) so Mahsing properties will not be in demand. Run with your 4 legs now. Run to BDB and Crescendo who are developers for affordable homes, and most important is even selling cheap, these developers still can make money because their land is very cheap...........
Same as PRS When PRS first introduced, with govt tax incentive given to participant, but fail to see all those providers were all half-past-six fund managers, PRS participants all went to holland.
How come as many as 19 funds removed from PRS? Out of which 13 were from Public Mutual Funds? Why Public Anal-lists were chosen in the first place? Are they not half-past-six and all half-cooked?
Once bitten twice shy Don't be a guinea pig for something not proven LGE is simply amateur to introduce financial derivatives without in-depth study consequences if failed
The p2p plan looks promising and is a win win to all... I believe thats a good step.. at least its a genuine solution thats acceptable with benefits for owner, investor and also developers.
Not only Mahsing effected but other players were also drag by property downcycle, Bandar Baru Sendayan in Negeri Sembilan for Hijayu also buyers already sell their house & some who unable to unload were force to lelong their property which they buy for price range RM550000 to RM650000 which the market value of the house lingering at RM450000-RM500000 currently, meaning those buy already loss at 1.market value appreciations & 2.rental growth(with only RM600 rental vs RM2500-RM3000 monthly installments..
Even top property developer like IJM LAND lowering their newly launch price for their project in Seremban from previously ranging RM500K-RM800K to only RM380K for double storey in Seremban 2.
Is Mah Sing a good bargain?.. I would said yes, but time will tell..
Does anybody know which Mahsing project being sued by their purchasers for defect and/or providing false marketing information including closing and converting club house to something else? If yes, is the damage more than RM250 Millions and is the damage covered by insurance?
Mah Sing should focus on their core business .. quality products and at fair prices! Hope there is none available on things that iHunter trying to look for.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
newbies wong
341 posts
Posted by newbies wong > 2018-09-30 17:29 | Report Abuse
keep collect~~:)