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 V10 - Property Prices (Up, Down or .....), and the debate goes on and on and on ...

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SUStat3179
post Mar 23 2013, 10:02 PM

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QUOTE(zuiko407 @ Mar 23 2013, 09:56 PM)
After 'sampool', you're the 2nd person to 出卖 down camp. But it's ok, at least you admit, most down camp are keep looking around and survey, people without interested property will not lepak here, they will buy one at least, when price keep remain high or drop a little bit to make them feel happy, they will quietly buy
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Mr Zuiko, the down camp, which I still belong to, have a point.

Prop prices in certain areas is not sustainable, especially the new launches.

I am still taking a risk, but at a risk that I think could bear.

The bubble might still burst.
SUStat3179
post Mar 23 2013, 10:03 PM

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QUOTE(AppreciativeMan @ Mar 23 2013, 10:01 PM)
Izen dude
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Not familiar with that place. Also, there are projects that claim at they are in Mont Kiara when they are not.

Finally, what are the rental yield like?
SUStat3179
post Mar 23 2013, 10:17 PM

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QUOTE(JudgeDredd @ Mar 23 2013, 10:06 PM)
But when you say Mont kiara price is insane I assume u should know quite well.

By the way I think Subang at 600psf is really a bit high.
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Like I said I bought subang because I know subang.

Condos in subang is not as high density as mont kiara, which is very densely built in my observation, compared to subang which is more spread out.

The prices are in mont kiara is higher from subang prices considering that they do not have colleges to sustain amount of condos there.
SUStat3179
post Mar 23 2013, 10:23 PM

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QUOTE(EddyLB @ Mar 23 2013, 10:10 PM)
Hahahaha I suddenly feel very funny. For all you know, people like debtismoney, joeblow etc are buying properties behind our back trying to catch the last train. And people like zuiko, amint etc are also selling their properties in fear of the bubble burst

drool.gif  drool.gif
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The problem with you bbb people is that you assume too much.

You assume that they have never invested in props before and that they will not seize an opportunity when it suits them.

You also assume that what they say is not true. Props prices in Malaysia is overpriced and we may well be in a bubble.

Does it mean at in a bubble a bargain cannot be had? Of course not.

I didn't buy because I jump to every developer's hype of a launch.

Also, I stick to my principle when buying. I don't look to square feet when I buy. I look at the amount that I need to fork out and the rental yield so if the shit really hits the fan and I am right, I have the holding power to hold the prop.

That is why I said I don't buy props above 500k

SUStat3179
post Mar 23 2013, 10:28 PM

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QUOTE(AppreciativeMan @ Mar 23 2013, 10:10 PM)
Not familiar Mont Kiara then u say Mont Kiara over price?
One Mont Kiara along Jln Kiara u kno where or not?.....
biggrin.gif  biggrin.gif  biggrin.gif
I hope tat your asking is not with an intention of finding fault.
I'm getting 7% gross after including cost furnishing and legal fees.....
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Don't be so smug.

I said I am not familiar with your development, not that I don't know mont kiara biggrin.gif .

Anyway, I checked the props all and non of your condos is selling below 500k for both I-zen 1 & 2.

So yeah to me it is overpriced sub sale wise.

For all I know that you have bought your props before the prices shoot up to insane levels.

The prop I bought could give at least 12% return now, provided you bought it 5 years ago.

Now at best 5.3%.

So yeah, I still say the prop prices is too high.
SUStat3179
post Mar 23 2013, 10:33 PM

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QUOTE(JudgeDredd @ Mar 23 2013, 10:29 PM)
But when I read through all posts, down group also assume all up group people are agents or flippers?

Same species?
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Because you do sound like agents and flippers.

Down camp never claimed that they are too broke to purchase props or did not invest in props.

SUStat3179
post Mar 23 2013, 10:36 PM

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QUOTE(AMINT @ Mar 23 2013, 10:33 PM)
If u look closely, u can still find 7% onwards but not many though. Bank valuations at these areas are usually lousy. Need lots of money upfront to buy.
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Not impossible, but close to it.

The prices just went up too much for rentals to cover.

Me, I just buy it partly to give it to my daughter so that she may have own place to live in when she grows up.

Rental is bare minimum only frankly. Only saving grace is that it should be easy to rent out.

Even at 410k it is still overpriced. But hey, what can you do? See an opportunity and just grab it.

At least it is not that insanely high.
SUStat3179
post Mar 23 2013, 10:39 PM

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QUOTE(AppreciativeMan @ Mar 23 2013, 10:36 PM)
laugh.gif  laugh.gif  laugh.gif
Dude, u really eating lots of your own words ya.....
Don't assume!
I bought it 4-5 mths back only ok....
Where u check? Online prop website?..... Is tat a transacted price or asking price?
U really hav a great entertainment for many forummer here tonight.....  rclxms.gif  rclxms.gif  rclxms.gif
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Like I said, I don't look into any price except the prices for sale.

I just did an impromptu search at propwall.

Nothing below 500k.

As far as I am concerned, you are buying an overpriced property that could be liable for correction.

Mine as well. I am buying mine because I know worse comes to worse I can hold it.
SUStat3179
post Mar 23 2013, 10:50 PM

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QUOTE(AppreciativeMan @ Mar 23 2013, 10:44 PM)
Bargain prop for prime location or unit u don't need advertisement!
Those tat still need to advertise or going into auction are hardly prime location or units.
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Or if you are lucky like I am this round.

Problem is, it does not happen that easily.

otherwise people would not be complaining of too high prices.

Also, tell me, does your unit rent out easily, honestly.

Bear in mind mont kiara is packed with condos.

I only risk buying mine because I know I have a steady supply of students willing to rent my unit.

Yield is not good compared to the price I paid.
SUStat3179
post Mar 24 2013, 08:06 AM

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QUOTE(JudgeDredd @ Mar 23 2013, 10:56 PM)
You mean others can't hold but only you?
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Well, I know my strength. And I consider myself in a fortunate position.

Why, because I already live in a home where it is already paid off. Any mortgage I owe now is for investment props.

Even then I calculated I could not sustain any prices above 500k.

Vast majority of speculators, well, how many actually earns at least 10k household terms.

In fact, many of the five figure household income also struggle due to high inflation cost and car and housing loan costs.

So with the bbb trend going on, how many are buying buying to flip immediately after construction and relying on dibs shield? Are there enough buyers in the sub sale market?

I buying to rent it out, not flip.
SUStat3179
post Mar 24 2013, 08:16 AM

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QUOTE(zuiko407 @ Mar 23 2013, 11:02 PM)
Mr tat3179, your down camp don't trust u anymore, u make them disappointed tongue.gif
They feel disappointed not bcos u buy, is bcos u announce here, some more not cheap.
U should do it quietly like them
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Mr Zuiko, in the first place why should anyone trust some strangers comments in a forum blindly?

Is anyone proclaiming a gospel truth here? Or do you think your people is proclaiming the absolute truth and the prices will NEVER correct like so religious nut tongue.gif ?

Did I join a brotherhood of monks that I must swear not to do anything? Since when do I need approval or trust of anyone in order to voice my opinion really, like you? I don't care what you think nor do I care what they think of me.

Everyone buys or not buy for their own reasons. I buy doesn't mean I think that the prop market is not unsustainable.

I buy because I think I could stand the risk at the long, long term.

But I still think that most prop market is too high and unsustainable and due for correction, steeply in some areas.

Already my rental yield for this prop is less than 6%, the yield is not attractive really, but I buy it because I like the building and area and intend to hold it at the long term.
SUStat3179
post Mar 24 2013, 08:20 AM

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QUOTE(AppreciativeMan @ Mar 23 2013, 11:02 PM)
Therefore, don't condemn when u are not familiar....
Along Jalan Kiara, there is a lack of supply of 1 bedroom units (at least for now, before Arcoris & Kiara 163 complete)
And u bet, I get to choose my specific tenants in less than 2 wk, with my demanded rental some more. And it's Jap tenant, which most investor will agree they are the best tenant group....
My conclusion is simple, everywhere there is a hidden gem, good or bad don't judge by the surface or minimal knowledge.
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I still bet that it is not easy to rent mont kiara props as compared to props in subang.

Otherwise, there wouldn't be darkness in many units of condos there like I observed.

The developers have overbuilt and priced the props there too high to absorb all the expat demand like you mentioned.

Mont kiara is still overpriced.
SUStat3179
post Mar 24 2013, 08:20 AM

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QUOTE(accetera @ Mar 23 2013, 11:12 PM)
Is this sustainable?
With 100 million sq ft, Greater Kuala Lumpur now has Southeast Asia's largest office space stock (accumulative)
The StarBiz | Friday March 22, 2013

user posted image

It has surpassed 100 million sq ft in Klang Valley but situation remains manageable

KUALA LUMPUR: The supply of office space in the Klang Valley has surpassed 100 million sq ft, making it the largest stock among the neighbouring South-East Asian metropolitan centres, according to property consultants at Jones Lang Wootton (JLW). Senior vice-president and head of research David Jarnell said the situation remained manageable where supply of office property was concerned but that there could be consolidation of rental levels for the rest of the year.

Jarnell said that in South-East Asia, greater Bangkok had the second-highest office stock, totalling 87.85 million sq ft, followed by the Special Capital Region of Jakarta with 65.66 million sq ft. Singapore, meanwhile, had an office stock slightly less than Jakarta at 64.01 million sq ft.

JLW executive director Malathi Thevendran said the (KL) annual supply delivered into the market in 2012 was the second largest (since the turn of the millennium) after 2009. A total of 6.74 million sq ft came into the market last year compared with 7.26 million sq ft in 2009.

Jarnell said the recent trend of strong supply growth came about as a result of the strong and sustainable economic expansion, a growing services sector, good demand for corporate office space and wider-reaching infrastructure and public transportation.
 
Over the next three years, the Klang Valley development pipeline would comprise a substantial 18 million sq ft of office space.

Read More >>> http://biz.thestar.com.my/news/story.asp?f...48&sec=business
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That's why I won't touch office props with a barge pole.
SUStat3179
post Mar 24 2013, 08:25 AM

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QUOTE(JudgeDredd @ Mar 23 2013, 11:13 PM)
Or LLB? Lawyers lie better?
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LLB are undergrad. And no I did not lie.

I never said I wouldn't invest when opportunity comes. Neither did joe blows and others in the down camp.

And I did not buy anything above 500k like i said.

Tell me, are you so mired in dibs development that anyone else that contradict your worldview that props in Malaysia is so cheap and foreigners lining up to snap up e dry available unit will bring about depression because you can't sleep at night due to your worries? biggrin.gif
SUStat3179
post Mar 24 2013, 10:06 AM

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QUOTE(kochin @ Mar 24 2013, 09:12 AM)
I cant make up my mind......
Whether to laugh or to cry.....
Probably i would do both......
And i am also undecided .....
To congratulate you or to offer my condolences....
Nevertheless, i admire your honesty...
Salute!
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Thanks.

Besides, it is fun trolling u bbb fellas once in a while.. tongue.gif

What to do, I am the type who don't drink, womanize, smoke, buy fancy gadgets, drives a 7 year old car and can't bear to spend money on hobbies and just love to save.

Trolling in this forum is free so here I am lah...good cheap entertainment.... biggrin.gif
SUStat3179
post Mar 24 2013, 03:16 PM

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QUOTE(kochin @ Mar 24 2013, 12:54 PM)

Again u fall into a dangerous category.
Those who do not drink might become an alcoholic one day bcos he cannot control the urges.
Those who do not womanise might abandon his wife one day bcos he never experience such lust.
Those who do not smoke might become a chain smoker bcos he cannot fight the addiction.
Those who do not indulge in gadgets or luxury goods/vehicle might one day be obsessed with it.
Am not saying it would happen to you but in all things, modesty is the best policy?
Again....admire your honesty mr. Lawyer.
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Bah, this is the internet. Modesty is not a required trait here.

All BBB guys like yourself also act as if they are property tycoon or the next donald trump also wut....

Yeah, I am dangerous. Very dangerous. biggrin.gif
SUStat3179
post Mar 24 2013, 03:17 PM

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QUOTE(AppreciativeMan @ Mar 24 2013, 01:50 PM)
Still don't understand.....
doh.gif  doh.gif  doh.gif
I can confirm... 纸上谈兵
U are full of thoery but with limited physical knowledge.... BBB more U'll start to learn more....  tongue.gif  tongue.gif
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If I BBB more I might fly out of building more when the downturn hits...who knows leh? biggrin.gif
SUStat3179
post Mar 24 2013, 03:21 PM

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Seriously, a cautious guy invested in a good location buying below market price prop within his financial capabilities all you BBB people are so excited already?

You guys must be worried about the down turn huh? Until you need to seek validation in your investments everywhere....

Comeon, when I invest in stocks or unit trusts also I am mentally prepared for any losses to come lah....so many of you BBB people as so despo and unsecure about your investment until use analogies like gay to make you guys feel better in forums meh?

Better don't investlah like that...biggrin.gif sheesh....
SUStat3179
post Mar 25 2013, 03:45 PM

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QUOTE(37 Exposures @ Mar 24 2013, 01:00 PM)
Pointless....

I bet 90% of Indonesians are rupiah millionaires...
SUStat3179
post Mar 25 2013, 03:46 PM

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QUOTE(AppreciativeMan @ Mar 24 2013, 07:08 PM)
I was neutral all the while.... However this weekend I think I'm leaning towards upside already.... LYF famous lawyer super confident correction or crash coming anytime, also jus plunge in to buy a prop at 664psf last week.... Who cares GE coming or not.... Or who says ppl waiting for GE over?.....  tongue.gif  tongue.gif  tongue.gif
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Still back to square feet measurements.... biggrin.gif

I told you...it is never in my calculations when I buy props.

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