Hi guys, new to this site. Just want to now what is a reasonable price to buy Mont Kiara Laman Suria condo for 1178 sq ft in mid floor? What is the price per square feet? Would be very greatful if all the sifus here can advise.

Thanks!

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Added on March 22, 2011, 12:27 pmI meant, what is the reasonable price per square feet in Mont Kiara Laman Suria now???

Thanks.

This post has been edited by soongkm: Mar 22 2011, 12:27 PM

How do you get a valuation from bank? Contact the bank and ask them? Or have to pay them to do a valuation report? If yes, how much?

Please advise.

Thanks.

thanks airline for your opinion!

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Added on March 22, 2011, 1:33 pmThanks totila!

This post has been edited by soongkm: Mar 22 2011, 01:33 PM

No la, in this "real world in malaysia" real estate prices will always go up up up .....never come down one... our beloved superpm got all those ETP, PPT, TTP, TFK blah blah blah to keep this economy going up up and away!

So no la, where got crash one la. Waiting for a property crash? no such thing in malaysia one lah....the only direction for real estate prices in malaysia to go is up up and away...just like superman! Because we got the superpm with all those super jargon such as ETP,NEP, PPT, TTP TFK to keep malaysia going to be a very developed super sophisikasi society of the Super First World by 2020 and we are going down the final lap of very "exciting" time to become a super developed first class nation.

So mana ada property crash...macam-macam ada tapi tiada property crash in malaysia...never will happen one, because we got superpm just like superman to keep the property market and macam-macam things under the matahari in malaysia to go up up and away!

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Added on March 23, 2011, 6:50 amup up and away... but dun know which way la...just need to see which way is going...

This post has been edited by soongkm: Mar 23 2011, 06:50 AM

when do you think is a good time to buy those older Mont Kiara condos such as Vista Kiara? Is end of this year a good time? How much is the market rate per sq ft in Vista Kiara now?

Thanks.

Any comment on Vista Kiara market price now? Thanks!

Yes, bro. You are right. Thank you for sharing your opinion. Much appreciated!

Downtrend in property loans
By THEAN LEE CHENG
leecheng@thestar.com.my

Higher deposit to curb market speculation seems effective

PETALING JAYA: Bank Negara's move to require house buyers to pay a higher deposit seems to be weeding out speculation in the property market, some analysts said.

Its monthly statistical bulletin last week showed that for fourth consecutive months since November, the number of loan applications to buy residential property has reduced.

On Nov 2 last year, the central bank announced a 70% loan-to-value (LTV) cap on a borrower's third and subsequent house-financing facility, meaning that these buyers would have to fork out 30% of the purchase price.

The move was prompted by fears of a retail credit bubble fuelling speculation on the prices of residential properties. Certain areas reported price spikes that are indicative of speculation and multiple-unit purchases by individuals.

However, analysts cautioned that the data was not conclusive.

Some analysts said the decline in the first couple of months might be seasonal and believed data from March would accurately show the effects of the LTV rule.

RAM Rating Services Bhd's head of financial institutions ratings Promod Dass said: “Household financing facilities now account for approximately 55% (or RM489bil) of the local banking system's loans, with loans for the purchase of residential property comprising about half (RM238bil) of total household loans.

“Although the full impact of this move has yet to filter through given the short time since its implementation, loan applications for residential property purchases have started slowing down in the last two months of 2010 and January.

“The heftier down payment because of the more stringent 70% LTV cap is aimed at discouraging excessive over-leveraging in the property market. While the early signs are that this move has weeded out a degree of speculation in the residential property market, it will take at least six more months to gain a conclusive feel on whether such speculation has been curbed,” Promod said in an e-mail.

Malaysian Rating Corp vice-president and head of financial institutions ratings Anandakumar Jegarasasingam said the LTV ruling was insufficient to control the level of household sector debt in the economy or an unhealthy property price appreciation.

“Any individual who is purchasing a third residential property is either likely to be affluent or a reasonably savvy property speculator. If property speculation is to be curbed, the authorities should perhaps explore more direct measures involving taxes and prudential restrictions,” he said.

Another issue was whether the current trend of lower applications for housing loans could eventually lead to a softening of the property market.

ECM Libra said in its banking report yesterday that “residential property and non-residential loans approved have shrunk and are set to continue their downtrend.”

ECM Libra's analyst Bernard Ching said “loans growth are expected to taper off due to our expectation that property sales growth may slow down later this year as a result of the imposition of loan-to-value cap.”

Another analyst said the drop in housing loan applications, and the reduction in the number of loans approved, would eventually lead to a softening of the property market. “Increasingly, developers will find it more difficult to push sales and this will lead to a softening,” he said.

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Price will start falling! Property owners, dream on that prices will go up up and up!!!

These are the last batch of people "up car" (in cantonese) already. See how they offload they stocks in next 6 months. Some of these uncle and aunties don't follow the macro situations, their "mood" is always 6 months behind, so kena la!

And also, this time the Sarawak Election will also have some impact on the property scene in Malaysia.

Ok, BN is expected to lose more seats this time to PR. And if the more shocking news, if BN lose 2/3 majority in Sarawak, it will create an "uncertain" environment in the economy. I bet alot of developers will not launch their projects if BN gets unfavorable result in Sarawak election. And if BN gets unfavorable result in Sarawak election, BN will put off the GE later, maybe till early next year, this will create more uncertainty for the investors and developers. Alot of decisions on project launching and property investments will be put off after the GE. Well that's my view.

I think if BN maintain it's good result, which means BN has to do landslide win in Sarawak compared to 2006 result, (which i think is impossible), i think those investors and those big boys developers will have more confident and continue their "ponzi scheme" of property. Yes, i think price will go up, if BN wins big in Sarawak.

six months after the 308 in 2008, property prices start falling what. It fell from August 2008 for the next 12 months. Of course, you can say is GFC la. but still local businesses lost confident, investors starts to lose confident, all go overseas to invest, alot of people emigrating after 308 all contributes to the fall of property prices 6 months after 308.

wah lau, RM20k 2 weeks, average RM10k per week. one year got 52 weeks, so one year later untung RM520k, What are you waiting for??? Go for it!!!

Hahahah....ya lor, join us la. Let's listen to all those property owners / speculators to try to have us believe, that it will go up and up and up....These property owners will like us to believe that it will go up and buy buy buy....

Dream on la, property speculators. Your days are numbered, this will be know as start of the end...prices will adjust by end of this year. People don't be fooled by these property owners, developers and real estate people! Hold your money boys...look forward to "shopping" trip on property by end of this year and early next year....

From here, the only way for property prices is SOUTH!

Don't get me wrong, i am not a bargain hunter, i am a property owner, but i am just being honest. Property prices will be adjusted this year!

Hey, some of these people are not buying is not because they can't afford it. It's just that they see the truth in this "property illusion". Suddenly in just one year, that is 2010, suddenly property goes up so much. Must be manipulation! These people who see this are smart. Sometimes is not about affordability. For example, would you pay RM100 for one durian? Can you afford it? Well, it is expensive but i am sure many people can afford it. But would you buy it? Not really, unless you die die also must eat durian or you think durian will cost RM110 tomorrow.

So please, not all people don't buy now is not because they can't afford.

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Added on April 7, 2011, 5:44 pmYes, i have to agree with you. These so called property gurus of course will try to spin the market to be "active" la. Of course they won't say it's good all the time, as a matter of fact, they don't have to. They just need the market to be active. Just like stock market, no matter the market good or bad, the stock broker sure make money one, as long as the market is active!

So when the market is active, alot of people will have to seek "professional" opinion in buying property, that's where these property gurus earned their money! If really so good, why they care to share the secret with you, why don't they diam diam sapu all and make all the money!

This post has been edited by soongkm: Apr 7 2011, 05:44 PM

Totally support! Don't buy property now, especially the new launches! But subsales which are more than 5 years old. Don't let the speculators get away with this, that is sucking people's money out of a ponzi scheme.

When the people here are saying "price will drop" means price will be adjusted from the present, all time high. Not crash. But in the long run say 10 15 years from now, it will still trend upwards.

Even blue chip stocks, gold, oil or even property prices in big international cities when they reached all time high, the "price will drop" means price will be adjusted. Not crash. But on the long run, it will of course always trend upwards.

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Added on April 8, 2011, 5:44 amWell, that's my prediction and i am sticking with it. ALot of developers are putting off their planned lauching. But in the news they keep on saying that they are confident that the market is still strong. What do you expect them to say, their bread and butter is in this industry. Just like Bee End will always say foreign investors are as ever, very confident in the country's political situation and policy.

If they are so confident, why YNH is postponing the Kiara 163 project so many times??? If they believe their own words that market sentiment is very strong, why don't they fast fast launch it to "enjoy" the strong market sentiment. Go and check, how many times Kiara 163 has been postponed and until now, that piece of land is still hoarding there.

This post has been edited by soongkm: Apr 8 2011, 05:44 AM

Superman Lee analogy is very simple: RM500 million for 3 shopping centre. of course sapu la. For that price of RM500 million, can buy how many units of priime location condo unit only. Cannot use Superman barometer to judge our day to day RE needs.

I tell you, this is 200% true!!! Your observation is very sharp!

Have to agree with you on this for the China factor. You just said what is on my mind!