It is hard to digest today prices figures etc compare with even 3 years ago ...than think 20 years ago prices , that's impossible to ask the today buyers to understand that comparison . 20 years ago prices is almost one or two generation away n only baby boomers ages had experience the various price indices that passed us thru the years !!
Today's younger buyers around 22-30 years old will find regard hse prices like 450k for a lousy condo suburbs KL as cheap whereas those uncle ages of late 40s onwards will think 450k could buy him even a terrace landed house in Damansara areas 10 years ago!!!!
2010-2013 were roaring speculation years that marred forever the prices of condo to landed properties .
In 2010 , A condo in suburb KL that launched at rm 200k will fetch Rm 500k in 2013!!! Over double the launched price. Those years before 2010, if you can get rm 35k above launch price after 5 years is a miracle already !!
Between 2010-2013 , Why suddenly property prices zoom faster than a rocket - that you have to ask the speculators - investors etc this has handicap the younger generation with super high housing loans n lower disposable household incomes n increase the ratio between incomes and payments . Whilst incomes n salaries remain starkly
Stable n not much increase n never double salary compare to houses prices which shot over double in prices !!!!
Since the ANY KL "current" condo prices have touch over rm 500k per unit ( even for shoe box units) , developers happily will launch more condo than landed property . As 500k back in 2009, is actually a landed terrace house price
Even in good KL areas like Cheras to certain PJ to USJ etc
Suddenly - it's even better to speculate n invest in houses prices up money than put good safe money in bank FD as it's so low interest or even start run a simple business . How can you make double amt in 3 years ?? What sort of legal business
Is that ?
The only way the prices of houses n condo will stop the increase madness is a major correction of the economy or property crash . That is hard to know and when will come by is everyone DONT WISH to know as almost a lot of people young n old are servicing high bank loans due to buying so high prices .
We hope this scenario will not happen but we still worry to wake up to this situation if our cash flow is low.
Back to car parks - we are not in Hk where car park is another investment opportunity .
Its easier to rent out a side by side parking than expect to rent the tendam extra car park .
Tendam parking results is you never know who is parking inside first n when you wish to go out n the other car is blocking you behind your car !
Tendam can save car parking space in a building as it's a dense populated development using a common car parking block despite with many parking levels etc
But in such dense parking situations in a Property development - a side by side parking is a jewel in the crown !!
They said property sector slowing down this year but the price seem like still remain high ya...