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Investment Why sudden increase in property prices at Puchong?, Why Puchong??

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Chris Chew
post Feb 5 2013, 11:06 PM

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QUOTE(Ah jib @ Feb 5 2013, 09:02 PM)
agree, lots of ppl moving out of Puchong
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There are also a lot of ppl moving in to Puchong.

Most of my frens from Subang, esp families moved to Kota Kemuning / Utama last time but in recent years, most of my frens / people I know also moved to Puchong due to Chinese area, near or next to Subang / USJ, more affordable new houses and choices compare to Subang.



Chris Chew
post Feb 6 2013, 11:03 AM

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QUOTE(ronn77 @ Feb 6 2013, 10:31 AM)
You are right, to my understanding many Indians and Malays that staying surrounding Puchong has moving out, paving ways for new development which attracts even more new and younger professionals and couples to grab a unit here. Do you know that in Selangor, Puchong was top search in Iproperty? Believe in stats and figures and you never goes wrong.
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7 years ago, I used to stay in Puchong for one year and hate the traffic jam at LDP.

Now, i think it had improved a lot compare to years back. Still jam, but moving. Unlike, my reminisce with Puchong toll was, I will take a ciggy n still got plenty of time to chat with, if the Malay toll girl is sweet. Lol.

Chris Chew
post Jun 14 2013, 10:13 AM

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QUOTE(puchongite @ Jun 14 2013, 10:00 AM)
Perhaps yes, perhaps no. I think many people know the lakes in Puchong area are ex-mining.
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And many ppl do not bother it anymore.

I had a friend, 5-6 years ago when told him that project was on an ex mining land and selling moderately, he replied "yucks no wonder, then just cancel straight away"

Few months ago, he die die also want to buy Lakeside Residence and even loan not getting desire margin, he tried everything to use proxy, guarantor and bla bla bla to get 90% loan. When ask "this is ex mining land too" he replied " aiya dont bother la, should be no prob one or else why got so many people que and buy, its so hard to buy and macam kena lottery"

He was one of the property buyer that follow if people buy, he buy.
Chris Chew
post Jun 14 2013, 01:40 PM

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QUOTE(raja lau @ Jun 14 2013, 01:30 PM)
hi all, got a question to ask, is it the lrt station in front of the zest going to postpone?
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I don't think so. The progress is quite active recently especially after GE, can see they do more works and even block the roads for safety at midnight hours.
Chris Chew
post Jun 14 2013, 02:56 PM

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QUOTE(mroys@lyn @ Jun 14 2013, 01:47 PM)
station 5 near furniture mall won't be built due to protest for residents.
zest is closer to station 4 rite?
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Zest is next to STATION 3 : Bdr Kinrara. Approximately 400-500 metres away from Zest Point Shop.

STATION 4 : Giant Kinrara is directly in front of Giant Kinrara, very near with STATION 3, I think station to station about less than a km.

Yes, STATION 5 : Kws Perindustrian Kinrara was told had cancelled and put on as reserve station mode. However, I saw the contractors doing land clearing and building 2 small bridges ( not sure whether it is to support LRT construction or just a pedestrian walk )
Chris Chew
post Jun 14 2013, 03:32 PM

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QUOTE(Far-KingOfSorts @ Jun 14 2013, 03:14 PM)
wait a few more years.. property bubble burst. deficit will go out of control. more ppl go bankrupt and property price will go down like ripe durian...  tge property owners will go bankrupt first. smile.gif
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For those who have properties, they can refinance it and cash out to hold the living for 1 or few years.

For those no property and no cash, they are even more suffering without further options as the whole economy die too and more than 50% could be out of job.
Chris Chew
post Jun 14 2013, 03:47 PM

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QUOTE(puchongite @ Jun 14 2013, 03:34 PM)
Maybe in bad times, banks also reluctant to approve refinance ?
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It could be. Banks would not be reluctant at all, but only could be stricter if economy is very bad, because under BNM, banks are the main forces to push up the cash available to the country and support the government for acts.

However, it is part of the options available to my statement.

In bad economy, it can be the property price drop from bullish market, RM 600k to RM 400k, but value could be middle at RM 500k ( before subsequently drop later stages ) and if one is commitment not so heavy, he has the option to refinance the property based on RM 500k valuation although he cant sell the property at RM 400k.

If based on today's bullish market. The prop market value is RM 500k, but seller is over-bullish to ask RM 600k, so it's seller-buyer market. If no one buy the property at RM 600k and then 500k, it doesn't mean the property should value at RM 400k unless frequent transactions of the whole area, subsequently to the whole property outlook, which takes time for immediate effect.

That's why a lot of people always thought their property high selling price is always the price that should be value by banks or valuers. A prop valued at RM 700k 12 months ago, seller asking RM 770k. When few transactions made in good market, the value reached RM 800k and by the time it had reached, the seller asking price is RM 850-900k and claimed their properties were so hot until increase from RM 700k to RM 800k sold out easily for time being.

It is vice versa when the property prices drop heavily ( or speedily ) against valuation which drop even slower than it in the bad market, which we wouldnt wanted to see.

 

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