Agree!!!

too many average people jumped into the game over the past two years and i suspect not many have holding power that's why have been avoiding overpriced properties although some i really like.

but i think for any category (be it 350K-500K or 500-800K) there would be people with and without holding power. For example a condo (not very prime location but interested to buy coz nearer to my family) asking for (RM425K) about 80K higher than bank value.

When i went to view that condo in Oct 2010, agent said best best best also can get RM420K only, and it was tenanted until last month (jan 2010). I just gave up and then what happened, last 2 weeks i saw asking for RM400K already, but am still waiting. I think the seller starts to feel the pain of having no rental income to help him pay the bank\maintenance fees etc, now everything comes out from his pocket. with Oil prices now what USD95??? petrol will be increase again for sure 

I think many others are cought in the same situation as well (difficutl to get good rentals (if any).

But again, those who are also in the "same boat", i believe we will be able to get a desirable place at reasonable price  , just continue do to our search la

THE HARD FACT! (a personal view on the real estate)
this has always been divided between 2 camps. one wishing it will come down, the other hoping it will go up. both can argue till the end of time and there still would be no winner.
my take on all this is simple. let's do an exercise. instead of focusing on actual events of which prices goes up or down in future, let's do a visioning of what we would like to experience.
a)some people wishes property prices will come down.
what does this means. look at country that are experiencing these phenomena. those are the ones that are extremely affected by financial crisis. unemployment soaring to double digit percentage. prices at a fraction of the original purchase value. do you really one this to happen? when this happens, it could spiral and lead to so many other events. desperate people calls for desperate measures. i believe everyone will do the same when they are push to the extreme boundaries. so think hard, the 500k property that you are eyeing. would you like to see it dropping to say 400k? 300k? 200k? when this really happens, think hard, when it DOES happens, would you really be happy about it? compared our property prices and other prices if you will against our neighbouring countries. we were better than most of them say 20 years ago. fast forward to now, while we are screaming crazy property prices, look at our neighbours. vietnam, thailand, singapore have all passed us in the property race. indonesia is only slightly behind taking their jakarta benchmark. so now, do you still want property prices to go down or even remain stagnant for years to come? do we want to position ourselves that Malaysia, the country with one of the cheapest property prices in the world, tag?
b) some people wishes property prices will go up.
what does this means. as most countries are charging ahead in leaps and bounds for their own economy, automatically these countries experiences hike in salary, property prices, better infrastructure, better living, etc. all this encourages and progresses the nation. of course, these are only sustainable if the nation shows true progress. artificial escalation of prices is by no means sustainable. but beware of prices going too far out of reach for the mass public, it might backfired and caused some political unrest.

conclusion (again reminder that this is all IMHO), one should not be too focused on prices going up or down. one should at all times aspire to increase their own income. i end my note by saying this: if one can still buy a decent size property (say 1000 sq ft condo) at a decent location (say within golden triangle) with say rm300k, would you be proud of your country still. and if your answer is yes, can you name me another country in which the prices is lower than my assumptions and have the attraction to draw you there? and if your answer is still yes, i strongly suggest you migrate there to avoid the headache of more increase in property prices.

PS: +1 is most welcomed although not compulsory.

As for the property prices comparing with other nations.  Just because our property prices are cheaper, doesn't mean that we are lacking behind other countries. In the end it's about the standard of living of the citizens that matter most.

Imagine if property prices were worth millions, and we are living in high rise buildings like singapore, hongkong or taiwan, and the locals are simply renting from the foreigners, because we can't afford to buy these houses ourselves.  People are working 2 or 3 jobs, and the suicide rate has increased. What good is it really?

Property price drop, does not mean that our economy drop. I don't think so. Most things will continue as it is, except that speculators will have less networth on paper.

Some of loan packages only adjust repayment tenure when the interest rate increase/decrease and they dont adjust repayment amount. they only adjust when borrower default the installment.

sometime the interest rate increase during crisis , year 98 for example when the interest rate was 9%. even you could get right property at cheaper price, but the interest rate would it not worth buying

choosing a right property with right loan packages is also very important. my neighbor who bought the house 30k cheaper than mine but cost of ownership is the same after taking the loan interest into account.

his loan is blr + xx while mine is blr - xx.

You never can predict anything.
Each crisis come with different "package" and condition.

Crisis?
What crisis?
2008 financial freeze no longer is there already after Fed QE of 1.x trillion being pumped to market.

Now we are facing inflation problem instead of crisis.

No, it is a wrong mindset to say you "untung" 100K with 350K, wrong concept. 
You never "untung" anything.
You just paid less.

the cut down will proceed if majority cannot afffort. i think banking sector will be hurt the most, majority ppl will be happy, me too. 

Haha... CHANGE is the only solution..

y wan to wipe out speculators? 
we dun wan put moolah in fd earn peanuts, so we put moolah to hard work when u guys were wetting pants
coz recession is alwiz an opportunity

now the warren buffet wanna use his elephant gun
2 years ago, we speculators alredi using all our gun + water gun liao to buy, buy & buy 
so now u guys late to the party & wanna blame speculators? 

Leasehold renewal can be around 100K:
http://thestar.com.my/metro/story.asp?file...378&sec=central

"Most residents of Petaling Jaya Old Town whose property lease is expiring in three to 15 years had a shock when they applied for an extension. The premium now costs them between RM80,000 and RM100,000, compared with RM40,000 four years ago."

http://biz.thestar.com.my/news/story.asp?f...24&sec=business

"Property prices of the local residential sub-sector are expected to be flat in the next few months as fears of rising oil prices due to the political unrest in the Middle East may damper investor and buyer confidence."