this is why always read those reviews with a big pinch of salt. at worst, like politicians - saying things only to their benefit.

just a week ago, good-good, now mixed. if more turmoil in europe/usa, they'll say bad-bad?
as if they were sleeping all these time and not aware of the troubles brewing...

so, developers are throwing in freebies and giving discounts already?
bursa FS dropped below 1500 today

if this is the beginning of the popping of the bubble, i would sincerely like to hear the views of those people who were calling for a crash.
america has been downgraded.
market already lost close to 50points.
remember, if this is only the beginning, let's assume that the following weeks and months will be repeating of all the doomy gloomy news in 07/08 scenario. everyday daily newsprint and media will repeating the same depressing news.

question:
1. when would you buy your property?
2. how low do you expect it to go? 20%? 30%? 50%?
3. are you worried about your job?

yes, you campers have been saying "i told you so". if this is really happening, may i know if you are sincerely happy?

me? am neutral on the whole subject. up. happy. down. happy too. yippee.

I notice that those in iproperty, homeguru, mudah etc... are those agent that advertise to scare the buyer that house price is that range.
I usually use it as benthmark - 20-30%, which is the market price.

Those advertise was never sold and repeatedly advertise and advertise....
u know how advestisement work right? if it advertise long enough, you will believe it.
Can ask those who work on the advertisement company..

That's right, we can't expect the mortgage rate to stay low forever.

These days, developers are offering zero down payment (simply jack up the house price and rebate you 10% for the required down payment so you can get your loan approved), zero percent interest during construction, free SPA/legal fees/stamp duty, and the government is talking about 105% loan, 5% for you to buy furniture? These are the recipe for housing disaster, we are repeating the mistakes that caused the US mortgage crisis.

I went to Puchong to enquire the Laman Grandview semi-d/bungalow the other day, what the sale person told me was "sir, you only have to pay RM10k to book a 1.3-1.5mil property, we will rebate you 10% for the down payment, and we expect the price will rise to 1.7-1.9mil next year, you have to be quick, only few units left, our next launch will be 1.7mil onwards!" Totally speechless. "Land scarcity, housing shortage, population boom, if you don't buy now you will be priced out of the market forever" sounds familiar with all these buyer friendly phrases? If people don't have the income to afford a house, how much a seller could ask? How much leverage the flippers could bear?

I think the time to flip houses and make handsome profit has gone. If you buy into their story now, you are very likely to get toast. When the pool of greater fool runs out, and the mortgages held by banks turn sour, our banks will go bust! Hopefully we will not see as many empty buildings on Boleh Land as in Dubai...

Latest news. The European Central Bank is printing money to buy Italian and Spanish bonds. The more paper money they create based on nothing, the higher the inflation will be. Japanese and Swiss central banks just "intervened" their currency exchange last week, with more money printing to keep their exchange rate competitive. Boleh Land will have to keep ringgit competitive to support export as well, which means more money printing... wait until Federal Reserve announces QE3, the temporary commodity price deflation will turn north and spike up. Look at crude oil, cotton, corn, grain...

The inflation storm if not hyperinflation is coming... we will have a currency crisis world wide. I would grab as much GOLD as possible!

For younger generation, it would be far better off to rent a place to live in this property frenzy situation. Think about the difference between servicing a mortgage and paying a rent, use the extra bucks in your pocket and buy other asset class, you don't have to be a housing debt slave. The property price will come back down to match average household income eventually. Some would say the property price will never go down, look at last decade, it went up and up and up...

This post has been edited by debtismoney: Aug 8 2011, 12:26 PM

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Added on August 8, 2011, 12:49 pm1) as soon as the price is adjusted
2) 20% defintely grab, 15% also will grab
3) not at all

This post has been edited by godutch: Aug 8 2011, 12:50 PM

1. Never. Already bought a family home despite the rate. Will only buy if I need another home.

2. Don't know. I just know it will drop. But anyway, while economy crisis was looming, I was thinking of the housing bubble bursting, irrespective to it.

3. Yes, worried. And Yes, I'm happy, because I looked like an idiot when everybody said I was wrong. If it was coming, it would come irregardless of what I said, so it is better that I had said the right thing.

Being right, also grants people the ability to prepare and act.

However nothing was done on my side. I was just too depressed by people's attitude towards the market, so I just got fama's help and we're moving to a house in the outskirts. Who cares whatever happens to the rest of the market. Even if we stay in a ghost taman, we will make the most of it.

I however cheer for those who had stood their ground. Assuming prop price will indeed drop significantly.

P.S. Another of my concerns why I bought early was, even if houses were cheap, I might not necessarily get the house I want then.

This post has been edited by TheDoer: Aug 8 2011, 01:49 PM

1. Waiting for price correction cycle..
2. Mont Kiara $400 to $500 p.s.f. definitely grab. Overall I expect around not more than 5% drop average.
3. Sometimes

This post has been edited by lch78: Aug 8 2011, 01:49 PM

mont kiara got older ones RM450psf.

Is property in bukit jalil worth buying? since its near to MRT.

After Hours
$1711.73
+47.94 (+2.88%)
Aug 8, 2011 02:04 AM EST
4PM CLOSE:1663.79 +16.14

Last time I check, usually those are bigger units?

I am eyeing for around 700 to 900 sf only.

guys im actually on the verge of buying an own stay condo for my family at casa tropicana, 1200sq ft at 530k.. wondering if it'll affect me if property crashes.. >.<

yea, bigger units.

700 x RM400psf...RM280k.

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Added on August 8, 2011, 2:16 pm530k is almost double the price within a few short years.
how much is bank valuation?

This post has been edited by cranx: Aug 8 2011, 02:16 PM

valuation is 520k, from cimb. that unit asking price is 550k, gonna negotiate till 530/520. with all the news going around, i'm having doubts about this purchase.

This post has been edited by spcx: Aug 8 2011, 02:18 PM

In Mont'Kiara?

Analysts are still optimistic:

http://www.theedgeproperty.com/news-a-view...ng-up-well.html

more: http://www.thesundaily.my/news/103981

Residential property prices expected to rise up to15%
Posted on 8 August 2011 - 05:39am
BY KANG SIEW LI
sunbiz@thesundaily.com
KUALA LUMPUR (Aug 7, 2011): Selangor Dredging Bhd (SDB) sees prices of residential properties in the country rising by up to 15% this year, driven mainly by higher investment costs and land prices.

Its managing director Teh Lip Kim expects the local property market to remain buoyant this year, with prices likely to see a 10-15% spurt on the back of continued economic growth along with growing interest among foreigners.

"Residential property prices in certain hotspots, especially in the Klang Valley, have risen 20% to 50% year-on-year over the past three years," she told SunBiz in a written interview.

Demand for landed properties in the country will remain strong, especially in the Klang Valley and Penang.

"Well-positioned medium-cost high-rise residential units will also remain popular, driven by strong demand from younger middle-class buyers," she said.

Teh sees the Greater Kuala Lumpur Master Plan and the Economic Transformation Programme (ETP) helping to drive demand for luxury condominiums in Kuala Lumpur, especially among foreigners.

"(As it is,) investors from Hong Kong, Singapore, Taiwan, South Korea, Japan and Indonesia are acquiring bungalows, apartments and condominiums in areas near the Kuala Lumpur City Centre, Kenny Hills and Bangsar.

"Prices of luxury condominiums in Kuala Lumpur ranging between RM1 million and RM2 million have exceeded previous peaks. Foreign ownership is expected to surge beyond 30% this year," she said.

Despite the positive outlook, Teh said SDB remains cautious given the uncertainties in the economic situation in the West.


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Euro counters opened GREEN. Five more hours to US counters.

bursa red at midday.

I wonder whether this is just a temporary thing or will it continue. What we do know is the gov's of the world, are trying to reassure people that things will become better.