I am also expecting the price to drop more. The lowest was 540 psf for M city, but for its neighbors, were 369 psf for both the elements and arte ampang. To me, M city should be transacted slightly higher than arte and the elements but not so much higher, so only be 400 psf.

When the other 2 units VP. The rental market share of 33% will be reduced to 20% thats a 13% drop.
Now with reduced rental market share of 13% and unemployment, 320-360 psf should be sensible

Both units no bidder. Further price drop another 10%.
Updated details as below:


1-11-02, M-City Ampang
Reserve price 🔥RM 422,900🔥
Freehold
781 sqft
Auction: 20-Oct-2020 (Tue)


1-33-09, M-City Ampang
Reserve price 🔥RM 437,400🔥
Freehold
781 sqft
Auction: 20-Oct-2020 (Tue)

Good for entry, nice location for own stay

Both units sold just now.
Level 11 unit sold at reserve price 422,900. Single bidder won unchallened.
Level 33 unit sold at 464k.

Good catch.

In deed a good catch for KL address!!!

Poorperly is a zero sum game. vendor's loss is buyer's gain and vv.

This post has been edited by icemanfx: Oct 23 2020, 11:09 AM

will further press the rental market as buyer at value price.

I thought it could have gone lower because arte and the elements lowest auctioned price was 369 psf. These were 540 psf. It is like 46% more expensive despite same location

No, property like most other investments, are not zero sum game, the money pool will shrink if market price drop.
Vendor's loss might be buyer's loss too.

As one as loser in mah siao properties, I've "advised" most owners to dump these properties since 2015 (look at my thread), and all I got was harsh reply from kiasu and kiasi owners who defending their investments like h-e-ll.

MS is the worst top 10 developers. Now they're going for glove-making, lol.

They're not serious in building homes, just a crook who wants to squeeze $$$ out from every possible ways.

MS started out as a plastic trading company in the 60s, the saw the property boom and jumped on the bandwagon in the 90s and they emphasized all resources in properties since 2000s, now they realized it's a gloom in property but money in whatever areas fighting against covid-19, they again jumped on it.

MS ventured into poorperly development after public listing. they are in business, not in charity, venture where money could be made.

This post has been edited by icemanfx: Nov 14 2020, 12:04 PM

Boss hearsay got some new auction units in this M City at 500psf. Post more details on this top notch Mah Siao project.

Lelong duplex unit available below 450 psf. Bumi lot.
Details:


3-09-12, Tower 3, M-City
New reserve price: 🔥🔥RM 467,200🔥🔥
Freehold
1047 sqft, duplex 2 rooms (Type DC)
1 car park lot
Auction date: 20-Feb-2021 (Sat)
*BUMI lot

Sunset unit...

m city izzit the escort area？last time passby..hot moi waiting downstairs, and also the building behind it also ...

a lot of pak arab there also. heard from a friend who stayed in airbnb in one of the condos that the men living there are very scary!

cant attract ownstay

Why Freehold has bumi lot? The land with restriction?

Still master title.
Developer must comply with the bumi:non bumi allocation / quota.

After issuing the strata title, then only this unit will be open, free to sell to anyone.

Thanks for clarifying... After so many years MahSing still couldn't get the strata ready for execution.

Wow so cheap, I think snp 1mil