agreed, sometimes $ cant buy time

the earlier u start ur loan repayment, d earlier u can settle it, perhaps the low BLR + bank attractive mortage rate is one of the points u may want to look at now.

This post has been edited by bearbearhong: Sep 6 2011, 04:47 PM

our gomen respond is always slower pace then reality, they shud have limited foreign purchasing long ago.

For those investor/flippers, they do need to be aware.

However, as for myself, my intention to get a 2nd property is more for long term saving for my child, it will be kept for at least 6-10 yrs, and limited new development within KL area prompted me to get 1 under construction within my preferred area.

Prices of property may be dropped or stagnant soon, i am confident it will not drop continuously but we are aging, time too is $, however, i am not a desperate investor who simply strech to buy

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Added on September 6, 2011, 5:19 pmBro, no one can guarantee that price anyway...in particular freehold landed terrace houses, the demand is higher then high rise and higher end Property

This post has been edited by bearbearhong: Sep 6 2011, 05:20 PM

+1 for you, as me too been hunting a 2nd property since 2007, and lived in denial that the Property price is hiking, and "cursing" the market that the then price was crazy.

I am no body to predict nor to say property price may go down or up in future, imho, it is most remain stagnant especially landed.

I do not have time do research on which country's property bubble burst or going to burse, i ddid do my reading randamntly but never bear it in mind though.

haha...cool answer, I just love it!

the arguments, comparison with other countries charts, prediction, researching bla bla.... no one know what's next. all those chart are too general, there are different features that other should also look into it. the bottom price of a house in Japan, as compared with our country, their salary, cost of living etc..

For those who think property will drop 30%, go ahead with ur saving, u can start saving earlier and more and taking it as loan repayment/deposit for ur future property

personally, I still think we should factor in location, location and location.

In Klang valley, many neighbourhood has been established more then 30 yrs, if one notice, those mature area like Kepong, cheras, PJ , for eg, prices have been remained bullish, main reason, imho, most of the owners would have finished paying their mortgage, and have more then 1 property on hand, so why do they bother to sell below then others? even come to quite market season, they dun have to drop their price more to get buyer. Those locations that i mentioned, mostly are landed properties.

THose who may get affected, are those going into high rise, newer development hoping for rental yield, streching their $ to cover, marking up their purchase price to get higher loan... with those debts, definetely is risky.

So, please don think u can get a landed property around those mature developed area which price RM500k NOW, at a price of RM300k in few years time, that i called living in denial, or perhaps hallucination.

a single storey in Sri Damansara back in late 90s was sold at RM180k average, 2005 was RM220k+, 2008-RM270k+, now there are asking price of RM350k-RM400k. Those who bought at lower price back then, may have their mortgage served more then half or complete, So you think in few years time, those owner will sell their house at RM200k? if one in need of $ urgently, asking price may be slightly lower, but couldnt be all of them are desperate..

perhaps, early pricing for our housing in klang valley has been very attractive, thats why there are rooms for it to grow all these years. some was mere RM20k back in 70s 80s for landed terrace housem and back then, our parents dun favour mortgage, many of them bought cash!

i cant see reason of lesser people interested to buy property in Klang valley, be it good or bad market. If ever there was bubble burst, it wont spread across the board, if a retired uncle who can afford to have his few properties empty/remained unsold now, he can have it empty by then too. I have been staying in Kepong area more then 10 yrs, many neighbourhood here, one can surely find at least 10% of houses vacant and not intended for sale. Some dun even bother to rent it out

Looked back at 2008, when every1 so worried about the impact of US financial crisis, volatile of stock market, many out there claimed Cash is King, dun invest bla bla...quielty many shift their attention to Property market!

if u r talking about investor, they will be happier if the price is lower by then, u may have left out many out there who are in need of their 1st house or upgrade to a bigger house. the younger generation nowaday, do u think they are like 60s 70s youngster who stayed with their parents siblings under one roof, even after married? the flexibility of mortgage encourage new purchasing, give many of us chance to own house.

look further into our always smart gomen, who launched the smartest 1st property scheme, open it to those income below 6k (gosh! with 6k per month, u can only get a property outskirt, wait few years for it to launch progressively in different locations, Ah beng earned RM2.5k, surely he is worried to compete, what made him want to wait for such allocation? ), allocating the housing outskirt of klang valley, pricing it +-RM300k. for me, I see, that indirectly injecting "hope" to Property market in Klang valley, creating transaction and continuing active market. it just help those Developer to promote their projects and encourage more sub sale transactions, i dun see how the scheme ease the Rakyat's concern.

I wont say affirmatively that Property price will not drop, i will choose to say as i always stated, Property pricing will categorically adjusted/worse remain stagnant according to Location, and type of Property. But not as bad as some forumer who are waiting to grab a landed at RM300k as compared with current price of RM500k.

Those who shud be more concern are those high rise in lesser demand area, high end super link semi D bla bla...more are coming up, how many of us out there in need or can afford them? how many out there are waiting to rent ur studio at RM2k, if local fresh grad, mati mati also they will buy one themselvesl; how many foreigners are waiting out there to rent ur condo at RM2k? or ur semi D at RM10K? not forgetting ur neighbours too are looking for tenant, gosh! whole block of studio units! again, dun miss out the other condo across the road? and another one further up the road....

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Added on September 8, 2011, 12:56 pmhahah..do bear in mind, figure i stated are real, not out from my imagination like urs, so dun take my example to do ur unjustifiable computation, only dumbo will buy a landed Propertyfor rental collection and offered such a high price, and ur computation of estimated transaction price is unreal, NO bank will be dumb enuf to give a loan for a over priced property, their valuer cant even justify that.

I understand what u r trying to say.

U should take example for those condo where ppl like to invest for rental yield, let me give u a kisah benar example, a smaller size of pretty old condo in an area nearby KLCC, was priced at RM350k, Mr.A who has already owned a condo for his own stay which still under mortgage, got influence by his fren who told him to grab that unit and rent it out so the rent can offset the loan repayment. He got no 10% deposit, owner agreed to hike up price to RM400k (See this different with ur example, 1 or 2 banks willing to accept slightly higher purchase price if the Property is proved to be well renovated, but NOT as RM100k higher like ur estimation), Mr.A end up got a 100% loan to buy the Property, receiving rental at RM1.8k which just enuf to cover loan repayment and maintaince charges.

6 months later, tenant left the country. Mr.A now is competing with many of his neighbours to look for tenants. So, what come next, if ever BLR shoot up, loan repayment higher, no rental...Mr.A has no spare cash

This post has been edited by bearbearhong: Sep 8 2011, 12:56 PM

again, Bro, in real life, No bank will give u a loan same value as cost of renovation done, as mentioned in my earlier post, if a house is well renovated, they may consider a slightly higher loan based on higher purchase price, not as stated in ur statement. Let say 2 house in a same neighbourhood, one is basic and run down, the 2nd one has been renovated with RM100k, Bank may accept the purchase price of 2nd one is higher and thus higher loan based on that price.

So, please dun just pluck ur figures and assumption from the air, at least get some facts to share here. cheers



This post has been edited by bearbearhong: Sep 8 2011, 02:43 PM

ok, understand ur point.

Let me share how valuer furnish their professional valuation to Bank. Generally, valuer will based on transacted price of recent sale and purchase of similar Property in the neighbourhood, and also conduct valuation at the subject Property.

For Eg. A double storey house in Sri Damansara with average renovation was recorded sold at RM550k last month, they wil based on that value and previous transacted price to give an average vlaue to Bank for upcoming transactions.

I wont deny, there are many out there are speculating the pricing, especially some unethical real estate agents, who convinced owner to compete their price, putting up higher selling price. What we read from property classifield nowadays are mere asking price, how many percentage are really managed to sold?

when there are few panic buyers who accepted the deal, those transacted cases will help to promote upcoming selling price to maintain as high...

or perhaps, 10yrs later, our Banking institue will launch 3 generation housing loan! pass it on to ur next generation!

yeah, not a standard practice, is too competitive now, too many graduates too many smart ppl on the street

categorically agreed with ur comment, and dun be surprised, they may go on and pass the bill.

Who cares? what they wan? they wan transactions, they wan speculations, they wan spending, stamp duty. and what they can do, verbally asked u to tighten ur waist with tali, but on another hand, encourage 100% financing, just take a look at the 1st house scheme.

when it become a trend in community, many will take it as "normal", this is bolehland.

As mentioned earlier, those are also factors that may affect the pricing of our property. not only low interest rate, low real property gain tax, unlimited purchase by foreigners, uncontrolled pricing of new property launched by developer..

If those factors remain, and instead of curbing the hiking of Property price, they go ahead to launch "innovative" financing scheme or plan, utilising ur EPF for loan repayment bla bla..., I dont see how the transactions in property will be reduced.

Julie is one of the many who i mentioned, need to grab a property and cant wait for the market.

There are quite numbers out there, they cant bet as time is more precious.

By the way, Julie, i wonder the same too...perhaps those rich fellows divert their investment to Property instead of Stock market, thats why developer is building more high end to target those group of people.

Perhaps, they start saving from 1 month old...

then u must be here to collect informations...

Haha, true, most of us r in a rat race...

Just like one the formers said, spend prudently, dun over extend our liability,,,be it high or low, one will be safe.

Looking back last few post in this thread, Salute to Mr.Debtismoney, a economic adviser to APAC who is so concern over our Property market and created an ID here in LYN solely giving us comments on this thread.

how to have a slow price correction? Raw material up, Dev increase price, every1 want to earn more, who is willing to earn lesser? New property price up, Subsale owner also increase their asking price...on top of them, wat have our policy makers been doing within these 2 years? launched schemes that help ppl to "cope" with higher price of Property, withdraw EPF, 100% financing for 1st property buyer, lower RPGT etc...instead of monitoring the price imposed by dev and project launched.

This post has been edited by bearbearhong: Sep 12 2011, 11:43 AM

Bro, cool!

absolutely agreed with u, in particular that there are numbers of youngsters out there are in need of their first house. time is precious then cash, one may have RM100k saving now, but in 5 years time, that amount of cash SHRINK in value.

That adviser doesnt sound right, registered in July 2011, only active in this thread, humiliating himself by downtrodden others. I never know an economic adviser can be so free...

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Added on September 13, 2011, 10:23 amHe got no frens, no life, so, this thread let him spend time..

This post has been edited by bearbearhong: Sep 13 2011, 10:23 AM

i think most they will impose it on foreigner, if such policy implemented, how r developers going to survive?

I am one of the 1.2m, come on, LHDN go knock the doors of the rest!

to betulkan yang salah...CHANGE! not us to change our lifestyle, but change those who asked us to change our lifestyle (but at the same time they crazily upgrading their own lifestlye) instead of helping us to change the awkward scenario!

let see what will be the special annoucement tonite, Mr.Najib gonna share political, social and security changes...