Prices are still going up for the prime areas for sure. I got an offer for my condo at Kiara Park, TTDI yesterday for RM 700K. My purchase price in May 2009 was only RM470K. Damn! Should have bought more.

Anyway, im looking to purchase another unit in Kiara Park. Any available?

Mostly sapu habis habis? Who told you that? Dont tell me the property agent or the take up rate board that they display!

What do you guys think of Pelangi Mont Kiara?

Would banks increase thier loan rate offers now as well? Currently the best offer is BLR-2.4%.

Well this is right and wrong to a certain extent. Yes i thyink MRTA is a waste and if you already have a life insurance (which everybody should), then no point taking MRTA/MLTA.

Housing loans should only be minimised for those who cant manage money well. If ure a smart investor and have excellent financial controls, then getting a max loan period is best. This would free up capital to invest in a subsequent property.

I made a mistake with my 1st property in 2009 when i only took a 15 yr loan. The higher monthly payments will eat into your 'qualification' salary for a subsequent property. Luckily for me i could still go ahead with the 2nd unit without having to refinance the 1st. But ill surely face a problem with the 3rd property. So ill keep my refinancing & EPF option for then.

Taking out EPF too early is a waste when the returns on EPF is more than the amount you're paying for home loan interests at current rates.

This post has been edited by cybermaster98: May 20 2011, 12:27 PM

There are only 2 low risk options to buffer against rising inflation: Gold and Property.

The drop will only happen in new areas or areas facing glut. In the Klang Valley, developed and mature areas e.g TTDI, Damansara Heights, Damansara Utama, Bandar Utama, Bangsar, Bukit Tunku, etc will not drop. Areas like Mont Kiara and KLCC will be the first to be hit in case of a bubble burst due to the glut in high rise developments there. New property launches will also be hit badly if that happens. Thats why i always recommend to stick to subsale rather than new developments at their inflated prices.

This post has been edited by cybermaster98: Jun 21 2011, 11:13 AM

Yes i agree that Mont Kiara will be worst hit. The number of condos there is shocking. Plus more than half of the units are empty. Even property valuators for banks like CIMB and Maybank are giving very conservative pricing for MK condos as they are anticipating a drop. The worst hit in MK would be the newer launches with their exorbidant pricing.

The new launches will be badly hit as well. Developers are really milking the people by telling them scary stories about price increases etc to force them to purchase at crazy prices well above normal market values.

In Kiara Park Condo, TTDI low rise units put up for sale are often snapped up within days of the sale notice. Thats how high the demand is.

Yes thats wht i meant. Thats why its important to purchase property in the 'correct' locations and not blindly purchase based on heresay.

What is the name of your property? I too have similar experiences. Ive got agents saying they can get me RM 800K for my unit (purchased for RM470K in 2009) plus they said i dont need to pay any fees unless they get me that promised price.

Thats true. Those expecting some major drop will be disappointed for sure. Even then the most affected will be newly launched condo's in glut areas like KLCC and Mont Kiara.

Forget all these affordable housing projects. These are merely election gimmicks to try and show that we have a caring Gov. Same as all those MACC investigations into high profile corruption cases. All merely eyewash for the elections this year. Charged is one thing. Being convicted and put into jail is a different matter all together.

That wont happen in prime & matured areas. That is just wishful thinking. I think renting a property is always a waste as only the landlord profits. Anybody choosing to rent while waiting for the market to drop is just wasting their time and their money.

Just imagine this scenario. Say somebody rents an apartment for RM 1500 per month for 2 years hoping for the property prices to stabilise then. In that 2 years, the rental expenditure would have been RM 36,000. That is money out of his pocket and into the pocket of the landlord. But in 2 years time, does he actually think prime area property prices will be RM 36K or more lower??

Prime areas have not dropped in the pricing (generally). In bad times it would stagnate but waiting for a price drop in my opinion is just wishful thinking.

Paying a bank is the same as paying landlord??? Why? At the end of the tenure, your landlord gonna give u his house or condo is it? Common la my friend. U pay the bank at least ure paying for something that can become yours.

I meant condo la. Focus on the main point not on a single word.

This post has been edited by cybermaster98: Jun 27 2011, 03:25 PM

The only prices which are ridiculous are the prices of the new launches. Prime areas have been growing steadily for the past 10 years. Who asked u to buy new launches? I have always said this and im gonna say it again. FOCUS ON SUBSALE PROPERTIES NOT NEW LAUNCHES.

Buying a property in the right area will get you excellent capital appreciation. So dont be foolish and claim that to avoid paying banks interest so u gonna rent. You will always be renting and u wont have anything at the end of the day. The only person that benefits will be the landlord. Trust me.