I read with a curious mind.. why people are worry, that the project is not selling faster than the others which get snap up even b4 launch?

As i mentioned, many of those units by other developers are usually snap up few units at one go, by investors or speculators, etc.
So, that is why, they SOLD OUT fast, and these people are targeting at SUB SALE Market to make tons of money.

Central Residence, is SOHO, and not targeting at desperate housewives, who only know, they must not kiasu etc. So, buying from subsale is their options, and these speculators make tons by selling to SUB SALE markets.

A SOHO Residence is a long term investment, and ideally, more resolute thinking people. We measure our Purchase by our commitments, loans, business, and access, and future.

SPECULATORS are only interested in SUBSALE Markets, they Hike up the price, and if possible, CONTROL the SUB SALE of many units from that condominium and so, nobody can escape the high SUBSALE price, if they want to buy any units.

BUT recently, the BANKS are kinda worry. Many say Market Price. But point is Market Price is CONTROL by SALES and DEMAND. IF Sales are control by Speculators, and they don't bother about HOUSING LOAN or NPL. ( Non Performing Loans). So, if any real soft market comes along, the BANKS will suffer sub prime problems, like in USA. The prime price drops, and collapse, and units Market price in the REAL MARKET may not materialize to match the high loan given. And banks are stuck to hell with the high loan given, and cannot get rid of the unit at low below market price.

So, its the caution they are exercising. IF every month, the SUB PRICE goes higher, the higher the risk.
Everyone knows.

The prudent investor is now, stuck between keeping a unit they invested for higher gains or worry, if suddenly the market soften, and their profit margin is narrow etc.
Yet, got to pay the high maintenance bills, once the units are handed the KEYS to the unit.

If they invest to rent out, they had to fork out a bigger sum for renovation and furnishing. If they leave it unfurnished, they cannot get the better rental to cover the huge loan they are stuck with.

Ummm, now, is the battle between SUBSALE Vs REAL VALUE of that property!!

overpriced and speculation, thats something government must control. U r rite, even banks also concern if economy and market suddenly drop, another NPL

As you know, there are some projects which are just playing with sticker games. Some of the units being RESERVED by the agents, SA, VVIP and eventually it seem the projects are fully sold. This will worsen the situation if the Developer allow the buyer to change name if they want to cancel or loan reject. This will attract a lot of speculators that want to earn fast buck. Easy money with a few thousand ringgit by just booking a unit at the early birds stage and transfer the name to a genuine buyer before signing S&P. Is this often what we heard??

its a timing game. same like Euro, people play football for match, but bookies from all over the world making tonnes of monies legally or illegally. But Euro wont get 1 cent from the profit.

I booked early with good price, i offer to u with top up, u accept, im happy, move on.

Hi JASTAN,

What you said.. ummm, may be good rational why every subsale gets snaps up? and suddenly, most new launches are snap up like ABC .... i used to naively think that KL People are so rich meh.. every launch, SOLD OUT.
Every Week, another new launch and SOLD OUT by 3 days.!!!
So many new buyers ah? yet when i ask the man in the streets on how's the economy? they say. its hard to earn money.

When i ask my clients, why so late payment? they say. its hard to get payment from others.

If everything is so hard to get.. especially ($)... why so much money rolling about with Sales of Properties?
That defies gravity?
Like that, might as well quit job and be "INVESTOR".. buy at 200k and sell at 400K 2.5yrs later, or buy at 300K and sell at 600K 3 years later....
that covers all the 3 years of work right? buy 10 units lagi shook ahhhhh ...
is that logical thinking?

crazy right?

i still better put my feet on the ground, and be real..WORK!!! earn my monthly salary ah?

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Added on July 5, 2012, 5:19 pmAny updates on Central Residence SOHO?

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Added on July 5, 2012, 5:19 pmAny updates on Central Residence SOHO?



This post has been edited by Citydude: Jul 5 2012, 05:19 PM

i been told by the lawyer that most likely the first disbursement of money for 10% for completion of pilings and foundations will be paid to the developer on Sept or Oct. That means the works so far going quite smooth right? Hopefully it can complete before 2015.

As the vacant possession is to be 36 months upon stamping of SPA, may I know who is the earliest among here to sign the SPA?

Hei Bru

Tks for update !!

Do you feel the property softening or more robust ! ?

Well, i know quite lot of tks here also aware that the new launching properties are still springing up like mushroom after the rain. But vast majority of them are landed type that ranging from 600k to 1mil plus. I think these kind of properties will be under the limelight especially for those mid-high income earners. According to my banker fren, survey has been done and the result shown this kind of property has group of followers. Sad case is i dun have enough cash to grab one!!LOL

Anyhow, I think it's suffice here for me to pretend like an expert to talk about the future of the property development but with the evidences of keep on "popping out" new properties, i think we still have a long way to go until the next cycle of contraction - RECESSION!!

I fell that the current property development is stil sustainable. Our situation are different with US subprime problem. The bankers knew that their client are high risk group and they are wiling to lend them at higher interests rate. When most of the people started to default payment when the economy is down, thats where the problem begin. Our situation here is different, the banks evaluate their clients and have to meet minimum requirement before the banks approve the loans. As long as our economy is intact, the bubble won't exist. There are still a lot of high purchasing power buyer outside there although you see a steep hike in price these 2 years.

I heard a local radio show. They guy said. The high hse price now making our people enjoying less in life.
Less money to buy other essentials, things to enjoy etc because most of the savings is out paying for hse loans.

That's not healthy for city living way of life and we are making too much sacrifice for that hse.

Ummm, you Agree?

I tend to agree....

Of course, you will say in 5 or 10yrs time, when the hse price is 5x higher, only you start to enjoy ....

But then in 10yrs time, again you are burden with kids in Uni and the amt you need is really sky high !!!!

So a decent Hse is really out of the average city man dream.
Ave lower to middle class condo is 350k to 500k

That's putting the pressure on decent folks to earn and same time buy a Hse or own a Hse.
Nott surprise, we see cases of more emotional mental health from city people.

yeah rite, but we still have a long way to go b4 we reach the stage like Singapore and Hong kong
besides own stay, i also invest in property with both attack and defense strategy
just hoping that my money won't get smaller in value
cheers....

Agree. At present prices, purchasing a decent house will take away a big chunk off the monthly income to repay the loan.Whatever that's left of the income will have to be juggled to keep oneself and the family afloat and hopefully sane. Tough.

The city guys bills are:

1) house or condo loan bill or rental bill
1b) condo maintenance bills or guarded community
Bills
2) credit card bill
3) car installment bill
4) food for self n family food bill
5) parents upkeep
6) water bill
7) electricity bill
8) ASTRO bill
9) hp telco bill
10) Internet bill
11) iPad Internet bill
12) petrol bill
13) movie bill
14) hyper mart grocery bills
15) yum cha bill
16) vitamins pills bill
17) day care or maid bill
18) paid ironing clothes service bill
19) car washing bill
20) kinder garden bill
21) kids bill
22) kid schooling bill
23) grown kids university monthly bill and their cars bill n their petrol bills and living bills
24) accessment bill of hse or condo
25) quit rent bill
26) indah water bill

Excluding personal or parents or kids medical bills

scary ahhhh still got money to buy few more houses ahhhh ???

27) road toll
28) parking fee
29) EPF deduction
30) Income tax deduction

31) Insurance bill

And when I ask the property agent if the price is negotiable for one unit property at
Another development Call X, that agent just said " it s only 500k , very cheap!,"

Gosh ! She thinks it's buying a RM 5.00 stamp ?
I just rejected her for good.

So, anyone care to think harder and continue No. 32 bills to No. 40 bills?

32) medical bill
33) entertainment bill

Pay RM5/- to buy a stamp you get a RM5/- stamp.
Buy a car with a bank loan you get to drive home a new car.
But buying a house/condo off the plan is a totally a different ball game.

after 10% on SNP, first disbursement by bank normally on completion for earthwork! piling or foundation will comes 2nd!

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Added on July 9, 2012, 10:31 amu buy 1 biji from developer, u payback 1 biji + 1 biji interest to bank after 30 years

so, who wins?

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Added on July 9, 2012, 10:32 amapplicable to overpriced and speculated SOHO, SOVO, SOFO and this investment too. risk is very very high!

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Added on July 9, 2012, 10:33 amdon follow the market trend blindly, follow ur financial capabilities

This post has been edited by peri peri: Jul 9 2012, 10:33 AM

Yup...very true. Price be in sync with income is fair consideration.