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> Klang Valley property prices fell in Q2&Q3 2012 V9, Is this just the beginning of a plunge?

accetera
post Mar 15 2013, 11:20 AM


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That Rawang condo is close to RM400 psf? HAHAHA.

Crazy...
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Steven83
post Mar 15 2013, 11:30 AM


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QUOTE(accetera @ Mar 15 2013, 11:20 AM)
That Rawang condo is close to RM400 psf? HAHAHA.

Crazy...
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Rawang not a good place?
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joeblows
post Mar 15 2013, 11:36 AM


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QUOTE(klbull @ Mar 15 2013, 09:45 AM)
How many can buy a multi RM million home as his first property? But a person can for his second/third home if he has large capital gains from his previous properties. Trading up homes is a time honored practice.
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But that doesn't explain the surge in high-end condos one bit.

Going from personal experience as well as statistics, most people trading up move from mid end condos to DSTH or DSTH to GnG, or trade up to semi-ds, bungalows, etc.

I have very few friends or acquaintances who "traded in" a mid-end condo to move to a high-end one (which costs as much or more than a DSTH) and fully zero who went the reverse (from landed to high end condo).

Majority of people purchasing high-end condominiums I would say are for "investment". Maybe as many as 90% or more.

That begs the question, who are they going to rent to? That's why you have even students staying at such so-called "high-end" condos such as Covillea etc. The rental market simply cannot support units at that price range.
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accetera
post Mar 15 2013, 11:37 AM


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QUOTE(Steven83 @ Mar 15 2013, 11:30 AM)
Rawang not a good place?
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Good place for landed...

Not good place for RM400 psf condo (a price that can be comparable in many parts of Shah Alam)
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tikaram
post Mar 15 2013, 11:38 AM


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QUOTE(accetera @ Mar 15 2013, 12:20 PM)
That Rawang condo is close to RM400 psf? HAHAHA.

Crazy...
*
Why not? that is luxury condo. with 5 star.....

Cyberjaya already selling 500psf ...... ipoh 500 psf......
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joeblows
post Mar 15 2013, 11:38 AM


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QUOTE(accetera @ Mar 15 2013, 11:20 AM)
That Rawang condo is close to RM400 psf? HAHAHA.

Crazy...
*
The Sanderson already got one fella talking about selling at 440psf......

I've been there, location sucks. Ridiculous pricing, actually.
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JustNobody
post Mar 15 2013, 11:46 AM


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QUOTE(joeblows @ Mar 15 2013, 11:38 AM)
The Sanderson already got one fella talking about selling at 440psf......

I've been there, location sucks. Ridiculous pricing, actually.
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You reminded me as my old self... Last time I also complain about Puchong sux in location....
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satrianeo-x
post Mar 15 2013, 11:57 AM


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I believe the high-end condo targets 50% or more on foreigners. Unlike Malaysians, I think countries like indo ,spore, hk, prefers the condo lifestyle with added security and peace of mind. I think even Malaysians are beginning to warm up to a condo-style life. Perhaps this is a paradigm shift, unlike prev generation, which will views that EVENTUALLY we should get a landed (good appreciation and more), esp the chinese.

I have many times in discussion heard about how they feel unsafe in a landed, even if it is so-called GnG. Indons in jakarta feels this way and to them, staying in a condo with malls below is great.... well done mid to highend with tesco (most important) +cafes + restaurants is the preference. The hassle of choosing and installing security on a landed (all side, front and back,roof), and still not feeling safe is a cause for concern. At least for me.

However, entry price is way high and climbing. Could I be missing the boat for the next BOOM before the eventual crash? What a dilemma.
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Nikmon
post Mar 15 2013, 01:29 PM


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QUOTE(joeblows @ Mar 15 2013, 11:38 AM)
The Sanderson already got one fella talking about selling at 440psf......

I've been there, location sucks. Ridiculous pricing, actually.
*
Developer are smart, they know the market, forget about psf, nobody bother.

Now people are looking at DIBS, 5-10% discount, price below 500-700k, preview trick, it will attract a lot of attention. rclxms.gif
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joeblows
post Mar 15 2013, 01:36 PM


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QUOTE(Nikmon @ Mar 15 2013, 01:29 PM)
Developer are smart, they know the market, forget about psf, nobody bother.

Now people are looking at DIBS, 5-10% discount, price below 500-700k, preview trick, it will attract a lot of attention. rclxms.gif
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Don't forget: GRR.

(backed by RM2 company...) wink.gif
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accetera
post Mar 15 2013, 01:39 PM


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Guys, please improve the list from the launches/preivews that you know. Thanks!


Greater Kuala Lumpur Real Estate So Far In 2013

Launched or "Semi Launch" or "Previewed":

The Manhattan, Jalan Raja Chulan
The Horizon Residences Kuala Lumpur
The RuMa Residences Kuala Lumpur
Menara Antara, Jalan Tuanku Abdul Rahman
ForestHill Damansara
You Vista @ You City, Cheras
BSP Skypark, Bandar Saujana Putra
Villa Rafflesia, Bandar Baru Sentul
Fortune Perdana @ Lakeside, Kepong Metropolitan Park
Verdi Eco-Dominiums @ Symphony Hills, Cyberjaya
KM1 East Condominium @ Bukit Jalil
Jazz Residence (Block G), Pacific Place Ara Damansara
TTDI Ascencia
KL Gateway Residences I and II
Shamelin Star SoHo-Residences, Taman Shamelin Perkasa
Casa Green Condominium, Bandar Tun Hussein Onn
City of Green Residency, Bukit Jalil
Infinity Tower SoFo Suites, Kelana Jaya
Avantas Residences, Old Klang Road
PV17 Platinum Victory Lake City Phase 7
Nova Saujana, Saujana Subang
Boulevard Serviced Apartment @ Boulevard Business Park, Jalan Kuching
The Chimes, Bandar Rimbayu
Cassava, Bandar Puteri Klang
BayBerry Serviced Residence @ Tropicana Gardens, Kota Damansara
Tamara Residence, Precinct 8 Putrajaya
Zefer Hill Residence Duo, Puchong
Main Place Residence @ USJ 21 Subang Jaya
D' Latour, DK-City @ Bandar Sunway
O2 Residence, O2 City @ Puchong South
The HYVE SoHo Suites, Cyberjaya
Lido Residency, Jalan Loke Yew


Coming Soon or "Coming On-stream" or "Planning":

Solstice Tower 2 @ Pan'gaea Cyberjaya
MKH Boulevard, Kajang
VINA Versatile Homes @ Cheras
Plaza Arcadia, The ParkCity Town Centre
Alila Bangsar @ The Establishment Kuala Lumpur
The Hub @ SS2 PJ
Cyber Square, Cyberjaya
The Robertson @ Bukit Bintang, Jalan Pudu
Opus Residence, Jalan Tallala
The Grand SoFo, Kelana Jaya
PJ Sentral Garden City Phase 1 (ground breaking in April)
F&N City Petaling Jaya Phase 1 (ground breaking in October)
DC Residences @ Damansara City
Verve® Suites @ KL South
Verve® Suites @ KLCC
The Mews @ KLCC
Meridian 101° Dang Wangi Kuala Lumpur
Four Seasons Place Residences Kuala Lumpur
The Residences by Tropicana @ W Kuala Lumpur
The Bank @ Jalan Ampang
The Galleria @ Jalan Ampang
U-Thant Place, Jalan U-Thant
Vortex, Jalan Sultan Ismail
Quill City Serviced Residence, Jalan Sultan Ismail
V Residence 2 @ Sunway VeloCity
Kencana Square SoVo
Vila Vista @ Cheras
Green Residence @ Cheras 9th Mile
Eco Business Park, Jalan Cheras
7 Tree Seven Residen, Taman Koperasi Cuepacs
Desa Serdang Condovillas
Jewel In The Sky, Jalan Kuchai Lama
Royal Garden, Jalan Kuching
Tiara Mutiara Phase 2, Jalan Puchong
V @ Bandar Kinrara
Paramount Utropolis Phase 1, Glenmarie
See Hoy Chan Group's Ara Damansara Project
Isosceles @ TTDI
The Weida Mont'Kiara
Pavilion Hilltop Mont'Kiara
Pavilion Couture Suites, Pavilion KL
Setia Hotel & Residences @ KL Eco City
The Fennel @ Sentul East
PR1MA Alam Damai, Cheras
Villa Wangsamas Phase 3 @ Wangsa Maju
The Centrina Service Apartment @ Central Residence, Sg. Besi
Pandora Serviced Residence 2 @ Tropicana Metropark, Subang Jaya
Quantum Quest, Jalan Tun Razak
328 Jalan Tun Razak
Dorsett Hotel & Residences, Jalan Imbi
Tribeca @ Bukit Bintang, Jalan Imbi

...I personally estimate another 100 new projects on the drawing board this year...

This post has been edited by accetera: Mar 15 2013, 01:39 PM
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kochin
post Mar 15 2013, 02:00 PM


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time for new thread?
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Bobby C
post Mar 15 2013, 02:33 PM


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QUOTE(cybermaster98 @ Mar 14 2013, 06:17 PM)
Has anybody heard of Ruma Residences, Jalan Kia Peng? Cheapest is a 915sf unit going for RM 1,985,550 (after discount). That's a whopping RM 2,169 psf. But it comes with a GRR return of 6% which adds up to about RM 9,927 per month. Monthly loan repayment 90% at BLR-2.4% would be RM 8,233.
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I saw Jimmy Choo last weekend. laugh.gif
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klbull
post Mar 15 2013, 02:37 PM


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QUOTE(joeblows @ Mar 15 2013, 11:36 AM)
But that doesn't explain the surge in high-end condos one bit.

Going from personal experience as well as statistics, most people trading up move from mid end condos to DSTH or DSTH to GnG, or trade up to semi-ds, bungalows, etc.

I have very few friends or acquaintances who "traded in" a mid-end condo to move to a high-end one (which costs as much or more than a DSTH) and fully zero who went the reverse (from landed to high end condo).

Majority of people purchasing high-end condominiums I would say are for "investment". Maybe as many as 90% or more.

That begs the question, who are they going to rent to? That's why you have even students staying at such so-called "high-end" condos such as Covillea etc. The rental market simply cannot support units at that price range.
*
Different generations, different experience, different needs. You are around 30, single without kids, right? At that age and marital status, I lived in my own affordable DST house in KL, simple & basic, but landed, in a decent area. Did'nt have to start with a mid-end condo, then trade up several steps. Just did the one step. After some 12 years, married with 2 kids, sold the DST, moved to a larger detached house. No inheritance, no windfall but had good capital gain from DST house. Also spent 4 years overseas going after the money to help fund the deal. And yes, after the kids leave the nest, the reverse may happen. Sell the detached house, move to a comfortable GG condo with cash to spare. Several of my older friends have made this move.

Oh, the surge in high end condo construction has everything to do with land scarcity in KV and developers hunger to maximize profits from ever scarcer land resources. So long as there are buyers, irrespective speculators or owners, and there are willing lenders, the developers will build and sell.

This post has been edited by klbull: Mar 15 2013, 02:47 PM
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Bobby C
post Mar 15 2013, 03:15 PM


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QUOTE(klbull @ Mar 15 2013, 02:37 PM)
Different generations, different experience, different needs. You are around 30, single without kids, right? At that age and marital status, I lived in my own affordable DST house in KL, simple & basic, but landed, in a decent area. Did'nt have to start with a mid-end condo, then trade up several steps. Just did the one step. After some 12 years, married with 2 kids, sold the DST, moved to a larger detached house. No inheritance, no windfall but had good capital gain from DST house. Also spent 4 years overseas going after the money to help fund the deal. And yes, after the kids leave the nest, the reverse may happen. Sell the detached house, move to a comfortable GG condo with cash to spare. Several of my older friends have made this move.

Oh, the surge in high end condo construction has everything to do with land scarcity in KV and developers hunger to maximize profits from ever scarcer land resources. So long as there are buyers, irrespective speculators or owners, and there are willing lenders, the developers will build and sell.
*
Heard so many cases from the horses' mouths aka developers & owners on landed properties. Bungalow moved to superlink, landed moved to condos all due to security reasons after feed dup & have enough with couple of break in and tat was nearly 10 yrs ago.

This post has been edited by Bobby C: Mar 15 2013, 03:16 PM
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