QUOTE(cybermaster98 @ Mar 10 2013, 09:25 PM)
Isnt this the case before all property market collapses? What do u think happens in the years preceeding a property market crash? U think ppl stopped buying for 10 years and then the collapse happened?
Please use the net to read up on what happened in the US and Vietnam before the property market went bust. Read what's happening to China and Canada now. Even major business media like Bloomberg, CNN Money, Business Week, etc are warning about an impending property market crash. There are already ghost towns in China where new developments have been snapped up by buyers during the launch but after completion there were no subsale buyers or renters.
Most ppl in Malaysia are buying because of easy ownership schemes like DIBS, etc. But none of these schemes would be available during subsale later on so that would really limit the market of prospective buyers. How many of us can afford to put a 10% downpayment on a RM 1.3 mil property? And also come up with legal & loan documentation costs, stamp duty, etc as all this is based on a percentage of the loan. For a RM 1.3 mil property, ure easily looking at min RM 180K start up costs including fit out. How many can afford to come up with that cash? When the buying slows down, thats when prices will drop.
Dont simply have the herd mentality and dont gauge the future property market based on the price increases for the past 3 years. Flippers can make alot of profit when times are good but they are also the first to be burnt during the bad times and facts are most of these flippers dont have the ability to sustain when their properties dont appreciate as expected and when the rental yields arent enuf to cover even 50% of the monthly repayments.
i totally agree with your thought.
Also, I don't understand it, Bukit Utama is selling only at avaerage 600psf, only shortfall is their size are 2k+ sq ft?
But 1.6 mil for TG 1.5K sq ft, myself get BU unit 2k sq ft at lower price.
I guess there is why 1.5k sq ft still have 20 units left, 1.2k sq ft have 3 left when I left about 1:30pm.
for a total of 413 units, good job done for Tijaya.
1.1k psf for leasehold unit in KD, just don't make sense for me. There are many better options.
But there could be one that can cost the property price flying super high, as Robert Kiyosaki said it
when he was in Malaysia last year "it is not the property is expensive, it is the currency is depreciating",
while if every one is printing money, what is the value of currency