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.

There were so many people predicting that it will drop a year ago but it didn't happen. Seriously make your own analysis.

puchong+bj+okr launches are still manageable in the sense they are priced sensibly and can be for own stay.
but okr launches is a bit mind boggling with the huge influx suddenly.

the incredible rise in subsale prices was driven by the insane new development prices.
with new launch everywhere and buy buy buy euphoria. how much room for capital gains for those who purchase now?

what goes up must come down. with the sharp increase of price in 2 years, this will not be a soft landing.
it will not be a correction but a crash. just a matter of time. perhaps V5 of this thread?

Hard landing or not, has nothing to do with foreign currency reserves.

Japan also has trillion of foreign currency reserves back 80's.

A lot of time, over-booming seldom ended up with soft landing due to complacency most of the time.
Japan superb economy growth in 80's
Asian superb economy growth in 90's
Internet booming, or dotcom bubble
US real estate booming, subprime.

I am not saying China will head to hard landing. Just it is not a soft landing economy (yet), it is still hot, far from soft landing.

Most of the time, price won't drop, even drop, only minimal only.
But you may see more difficulty to sell.

People rather hold on the properties instead fire-sale, until last resort, which prevent price dropping.

So high probably is you see more property want to sell, but harder to sell, take longer to sell, instead of price drop.
You may see "for sale" banner for longer time.

Unlike last time, property is snapped up once you put up "for sale".

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.

how about inflation?
how about more and more money that have been printed out?

the proper way of saying is:
everything will go overpriced then underpriced, but will have to revert to the mean

cheers

It still depends on area or location.

Even if property market turn sour in general, there are still location still selling like hot cake.
We cannot conclude property market turn bad time, everything turn bad at same degree.

In Penang, there are location once you put up for sale, you will get at least 5-10 calls from interested buyers, agent later on.
Even your mail box being flooded with name card, stated if interested to sell, please contact xyz.

While some location put banner, advertisement, yet hardly get many interest party after 1-2 months.

so is it a good sign if every once in about a month or so, strangers ring my door bell asking whether i interested to sell???
seriously, i've been asked this many times during my stay.
and my mail box constantly have flyers from agents (with clauses saying no need agent's fees)...

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

yes, they will mark up your asking price and keep the rest

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.

Sounds like you own the condo at TTDI.

well say!

i beg to differ. Just sold my condo less than 1 month after putting it in the market and on third potential buyer visit and the price is very close to my asking price

Seems like more and more ppl got to rent a place instead of owning their own house due to rising housing price. Back to 60s, 70s.

those without financial support from family will definately need to rent first until they've earned enough to buy their first property. to be honest, i bought my 1st property when i was 23 year old without knowing what i am getting into but i am glad i made the decision cause now i've gained quite a bit from selling it after 8 years and bought a landed.

I am not saying price will drop, or property market become sour now or in near future.
What I am saying, if property market does turn sour, price won't drop in the first place. You will see property hard to sell first.
Expect price to fall 10% 20%, as soon as market turns not favour, is not a realistic expectation.

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Added on June 21, 2011, 5:27 pmPeople will try to hold on their property until last resort or totally losing hope before you see price moves down.
(For those selling below their purchase cost)

Realistic expectation property price won't fall much (may be except those super high end one or those escalating too much already one), property price may stagnant, it may escalate more but definitely not as same pace with previous years.
To expect property price to fall with inflation looming around, from cutting subsidies to minimum wages etc, while economy is still growing, is not something realistic expectation.
Property price consolidation? yes highly.
To plunge? unlikely, unless there is problem in economy.

This post has been edited by cherroy: Jun 21 2011, 05:33 PM

yes, i am now in Shanghai, everything is so bullish here. malls, disco, pub, bars and restaurants is pack with people. Train and flight is full, immigration in long queue (especially foreigner lane), hotels is quite full most of the time...where hard landing?