Everyday Sunday meh? Challenging time like now, many property agents are eating grass. Just like Spore. During property boom 5-6 years ago, everybody wanted to be property agents but now they became insurance agents. Let's not envy them. Every career has its own challenges. At the end of the day, it all voiced down to HARD WORK. Good morning Malaysia!

Morning..thursday blue

As I know some agents even change to become tour guide now.. earn lagi good if you hardworking and few trips per month

I just happened to know who bought.
You were the early batch good for you.
Now developers could no more service the DIBS, once buyers obtaining the loans they'll start paying for interests.
And it's real scary they're paying RM2k+ every month without seeing any real progress. This drags like a year or so.
if that goes on for another year or more, means their hard earned money, over RM50k, like cantonese phrase, will be dumped into salty sea.

The friend who shared the inside story is a staff who could see the payout from her company.
She couldn't be wrong about the figures.

Guess this is a job where enormously huge gap happens. Heaven or hell.
A 1 mil house commission is over RM50k, splitting to different levels and agents.

If succeed in selling at least one every month, could earn tenths of thousand.
If not, kaput and eat grass.

ryan what unit you bought? Block 1?

like that also can apply for VP..this is beyond words.. omg hahaha

VP doesn't equate CF. So that buyers can start selling and look for new victims.
See who will catch the falling knife from sky.
Some buyers couldn't tahan the hefty interests paid every month, they're like calling developer office furiously every week.

All doubt that MS will deliver their promises by making the VP on time. There are tonnes of small scale developers stalling/abandoning the whole projects, the buyers should consider themselves on the lucky side as there are still signs of progress, though... too slow

But then, there are cases where buyers move in without CF, as long as they could find a way to sort things out.
After all, this is bolehland. Anything, any price, , any story, could happen.
We're just so amazed by the optimistism of m'sia buyers, they're defending their purchases die-hardly. LOL.

The truth will show once Vp. There is no point to repeat ur point as the situation may not be occuring

Englighten me please.

You said that, 'the truth will show', while no rigid evidence being presented.
How much validity goes for the statement of making assumption 'situation may not be occurring'?

Means that, you're not sure of anything either.

I welcome your thought, but you shouldn't kill off others' opinioin of no point of repeating something,
which may not be essential to you, but could be a crucial info for other potential buyers.

This is a public forum, anyone whether opinionated or not is suppose to feel free in expressing their ideas,
and not pinned down to only one thought, correct?

And I welcome more of your future sharing with us.

I meant u have shared and make your point loud and clear based on what you prediction on m city.

Dude, what's wrong with you? What prediction?

All I said were based on FACTS!!

New buyers (those without DIBS ones), are now paying with RM2k-RM3k interest every month without single cent being deducted from their loan amount!
VP has been off scheduled, delayed!
If this keeps going on, they'll lose more money on the interest!
And once VP available, competition to sell is fierce, look at M Suites!

These are all FACTS, where's the prediction? Except yours of 'things might not be occurring',
and frankly I don't have a single idea what 'things' are you talking about, I was merely being polite not to get into war of mouth with you.

Are you from MARS or what? Don't you know anything about the REAL happenings?

I certainly hope you're not one of the douche-bag agents who are driving bmw and earning handsomely while trying to mislead the buyers here!

Ya, lots of pessimism growing regarding this project ..

anyway, not necessary to wait until CF or VP to know for sure whether this project is going to be in
trouble or not so to speak..macro view of the whole market and area should give some concrete ideas as to what to expect..

so my personal verdict is that its gonna be very challenging for buyers who do not have holding power..and I think for this project there wl
be quite a number who will fall into this category..

Any buyers on city not enjoying dibs? By the way, with the current situation, all others project will have the same issues.

I share my point out loud, because I thought I'm doing a good cause, by giving a mild warning to the new buyers, especially those youngsters.

There are buyers who bought at RM700k financed at RM630k, 4 years ago,
now the same unit could have risen to RM1,000,000.

Once VP available, these old buyers, are 'so willing', to sell at current market price of RM1mil (bank value), or even slightly lower RM950k, they're making RM300k+ instantly after deducting the bank loan. Else they'll have to pay for RM3k+ instalment, while not certainty they could fetch same price (plus maintenance charges) from the rental.

Judging from current and near future economic's outlook, what chances you have to roll the dice for the odd to happen?

The new buyers, whether like it or not, they are forced to compete with old buyers margins.
It's not a fair game, never! That's why developers are so willing to mark up and pay more for the agents who could sweet-talk the buyers.
Once deal was done, it's not the agent's business because they're not developer in-house staff, you couldn't find them anywhere. And developers just replied "sorry I don't know what they told you but some of the facts you've gotten from them are not entirely true."
Developers always have one-eye closed while engaging the outsourced agents to sell on behalf, purposely or not, while their main concern is to sell their units not caring what are the tactics played to the buyers.
Who are the victims? Guess who? The new buyers who recently signed! Of course!

Actually this sad news happened in almost all projects especially in Klang Valley.
(Iskandar is not klang valley, but take that as a lesson, how many ppl got burned. )

We'll keep hearing more victims coming in.
Let's see, 2016 will be an interesting year! (yes, this last statement is a prediction, but strongly based, I have friends who work in construction and developers lines for over 20 years, they're shaking heads and felt sympathy for the new buyers).

That's why I kept asking, are you back from MARS?

Government had banned DIBS, dude? Read news lately... recent 2 years?

While your last statement, "with the current situation, all others project will have the same issues."

Yes, true. Very true, indeed!
Not only M-City, those projects which kept raising prices and offering more downpayment waiver, while selling for more than 3-4 years still not fully sold, all having the same situation.

This post has been edited by kyun: Oct 18 2015, 04:29 PM

Yes... true.

Holding power is the key.

Let's do the simple maths.

The early batch buyers would have not much worries compared to the new buyers.
Because they could always sell at below market price while still fetching some nice profits.
If they've some holding power, they could rent out, after all, their instalment is RM3k+ compared to RM5k (take example 1mil unit), if they could rent out at RM3k the best scenario, they're merely losing RM700-RM800 a month, not entirely a bad deal.

While the new buyers, they would have to lose RM2.5k every month.

After 3 years of collecting the rental, for 900k loan, it's about RM45k principal paid to bank in a year, stll owing RM850k.
While the lost of 2.5k x 36 = 90k.
And we don't even factor in the 'full interest' paid during the construction period. And the RPGT.
RPGT is calculated based on selling price - deducting the SPA price.


So it's about the game of holding power.

In 2010, m suites launching at RM400k for 502sf, investors are cursing mah siao for fooling buyers...

2014, subsale market skyrocketed to RM650k-RM700k for the 502sf!
But not many ppl wanna rent there.

in 2015, these small units owners were listing at below RM600-RM650k, as the rental is merely below rm2200.

Lately, I've seen some agents putting RM570k for these units...

Now tell me how fair that to the new buyers who bought at RM650k in 2014?

Same mah siao company, same area in Ampang Hilir, similar concept, 300 m apart.
M city is just another freaky clone of m suites, with an extra silly tube tucked in the middle of the condo!

M city? Go ahead anybody if you want to take the risk, but you'll be glad to read this thread and feel free to buy me a starbucks if I've just saved you from drowning into the muddy investment.

rm2.5k to rm3k for 700++sqft? Pray hard.

mah sing = tai lan gong if u trust them
look at the stupid icon pj, 5 yrs ago the futuristic render drawing, now u go see the hilarious ET like with 2 horns sticking up kepit the Plus highway observation deck dummy kind of building, wtf and what on earth are these mah sing idiots thinking abt!!!!!!
malu to own their products