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

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all blacks
post Mar 15 2013, 11:22 PM

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QUOTE(prody @ Mar 15 2013, 08:03 PM)
Current trend is down and it's probably going down more.
Subsale seems very slow and asking prices are dropping.
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I think it depends on location.. If you look at location such as Puchong and Kinara area the price is on high end n it keeps rising steadily.. On the other side places like Alam Impian, Setia Alam and Denai Alam the price is kind of stagnant.. Nt too much of increase or decrease in price in recent times..
all blacks
post Mar 16 2013, 12:03 AM

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QUOTE(AppreciativeMan @ Mar 15 2013, 11:25 PM)
+1
As I'm familiar with TmnDesa... Price don't drop during financial crisis, it jus stagnant... However during up market, they jus follow....
However, can't deny.... For any correction, high end Condo of 660k-800k and above could have higher correction possibilities than condo value 660k and below...
Eg.. High end may move around 20-30%, while medium end (600k or less) could move around 10-20%....
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Even if correction happens, most probably the so called "Next prime area" might take the biggest hit for DSL while for condo, most of the recent launches might have huge impact.. With the current inflation level, I don't think many ppl could even afford to pay the rental fees and also maintenance fees in future as living cost is going up too fast..

Nt many young ppl/family could afford high end condos.. It's worrying, landed has always been a good investment as in terms of long term appreciation is guaranteed but downside nt so suitable for rental purpose..
all blacks
post Mar 16 2013, 03:56 AM

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QUOTE(sleekx @ Mar 16 2013, 03:12 AM)
Sure price wont drop ?

http://www.propwall.my/classifieds/965722/...e-by-kitty-chan
seems 2013 price is lower to me.. at least for subsale
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Mayb some locations but can't b used to judge the overall market situation.. But wat surprised me in recent days is, some of the agents told me tat the price is at the highest/peak so u might want to hold off for a few more months n some told me tat the price has appreciated way to fast in last 1-2 years so if u buy now n if the market crashes then it's not gone end gud for u... So some asking me to monitor the price and some told me to avoid buying now...

I find this couple of agents quite honest in their opinion and they seems to be very professional, quite hard to come across tis type of agents now days..

This post has been edited by all blacks: Mar 16 2013, 03:56 AM
all blacks
post Mar 18 2013, 01:06 AM

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QUOTE(moon yuen @ Mar 18 2013, 12:59 AM)
If the house is new / just get OC & under warranty... It will get good demand, higher than launch priec

But, a lot of subsale is not new ... more than 5 years, OLD DESIGN. no longer warranty.... Crack here  & there, water leak bla bla ... People don't like to buy house tht have problems....
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But even for new ones, I wonder how many ppl can afford those.. Just try searching for Qaseh kinrara... I wonder if we really have tat many ppl who can afford those 1 mil++ sub sale units..

Quite a number of new landed properties being listed almost everywhere... Curios to c on the outcome.. Bcause almost all the units price are 200K -350K more than launch price..
all blacks
post Mar 18 2013, 05:30 PM

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QUOTE(prody @ Mar 18 2013, 11:18 AM)
I don't notice this trend in Puchong and Kinrara. You have any examples?
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You can try looking at the recently VP'ed units such as Emerald and Sapphire... Launching price was around 700K and 6xxK.. Current asking price is 950K-1mil and 940K-980K..

The units was ready around last year May.. So basically 300K increase in 2 years ++ since launch... Not sure if tats called "healthy" appreciation?
all blacks
post Mar 18 2013, 07:11 PM

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QUOTE(zuiko407 @ Mar 18 2013, 05:35 PM)
Sapphire was 530k by ballot, not 6xx,xxx
x_x
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Holycow.. I noe tat Emerald launching price was 700K but never thought Sappire was so low, gt to noe through agent tat it was around 660K mark.. No wonder a lot of loans got rejected due to low valuation... Sappire valuation is at 850K and max is 880K but asking already 9xxK...
all blacks
post Mar 18 2013, 09:45 PM

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QUOTE(prody @ Mar 18 2013, 09:29 PM)
As I was saying: "Subsale seems very slow and asking prices are dropping."

Of course compared to 3 years ago prices are up. But it seems to me in many areas asking prices are dropping compared to 3-6 months ago.
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Actually for the units tat I mentioned, Emerald from 850K went up to 970K in 7 months time period...
all blacks
post Mar 18 2013, 10:08 PM

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QUOTE(zuiko407 @ Mar 18 2013, 09:51 PM)
Transacted or asking price?
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Transacted bro.. But there's one unit asking for 935k but junction hse.. Price is less bcoz usually Chinese and Indians dun go for those type of houses..

But nt sure if the S&P has been signed.. The last successful transaction was 950k..
all blacks
post Mar 18 2013, 11:48 PM

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QUOTE(prody @ Mar 18 2013, 11:37 PM)
So what is the current asking price for emerald?
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Actually most of the agents told me to skip Emerald as it's a waste of time dy... Because owners has started to ask 950K - 1mil now since the last transaction..

The agents told me tat Qaseh is a better choice if u r going for 1 mil++ price tag.. Was supposed to view 1 of the cheapest unit last weekend, wic was going for 910K and suddenly the owner didn't wanted to sell the unit.. So looks like he wana join the party too..

Sapphire wic is slightly smaller by 1xx sqft is asking for 940K, if not mistaken the last few units available... so wouldn't be too surprised if asking is more than 950K on wards..
all blacks
post Mar 19 2013, 09:21 AM

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QUOTE(prody @ Mar 19 2013, 08:51 AM)
Maybe 970k was the peak. There seem to be plenty at iproperty asking much less.
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Actually I called up most of the agents, its just their stupid trick to price it lower so tat potential customer calls them juz to be informed tat the asking price has been increased...
all blacks
post Mar 19 2013, 09:34 AM

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QUOTE(AMINT @ Mar 19 2013, 09:24 AM)
Yes, i got that a lot too. 1) that was 1 year old price. Now owner wanna sell higher 2) my staff put the price wrongly. Cannot be so cheap. Now market is at this price that i am telling u maa.
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rclxms.gif

QUOTE(Steven83 @ Mar 19 2013, 09:27 AM)
The agent has another method, they will tell you the unit was not available...but I have a more expensive unit. Are you u interested? rclxms.gif  anyhow there are some area, the price really drop.
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rclxms.gif

Indeed, very true.. Wasting our time...
all blacks
post Mar 19 2013, 10:46 AM

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QUOTE(ay@m @ Mar 19 2013, 10:31 AM)
believe it or not... i know someone who actually just bought a landed property from an agent and according to that agent, the price quoted is based on the actual developer's price about 1-2 years ago...this landed property just obtained OC....

and comparing to other similar listing from other 'flippers', the selling price quoted by other owners or flippers is about RM180k more expensive...

weird eh...but for once, this agent actually sold this landed unit for about more or less the same price compared to 1-2 years ago...
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Mind sharing the price tag and the location? Curios to noe y actually they decided to sell at developers price... But actually tat should be the case since developer always puts in "Future price" during launch.. nt add another few hundred K's on top of tat price tag..

This post has been edited by all blacks: Mar 19 2013, 10:47 AM
all blacks
post Mar 19 2013, 11:04 AM

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QUOTE(ay@m @ Mar 19 2013, 10:50 AM)
ok...the listing price by other owners, i think they simply quote the price...it is listed around RM840k...

but there's another unit sold by an agent for RM660k.... already paid RM5k deposit so i think the selling price can be considered confirmed...

Location is Teluk Kumbar area in Penang... smile.gif  double storey landed...
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It's madness isn't it... Telur kumbar use to be a crappy area but now the asking price could fetch up to 840K... But I still think it's a shitty plc..
all blacks
post Mar 19 2013, 11:09 AM

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QUOTE(AMINT @ Mar 19 2013, 11:09 AM)
i like this type of agents. can you pm me his contact number? We need honest agents.  thumbup.gif
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Penang also u masuk kah bro?
all blacks
post Mar 21 2013, 03:59 PM

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"Moving forward, the central bank’s measures and the higher Real Property Gains Tax (RPGT) are expected to support a more sustainable growth in home prices, added the BNM."

This might impact a lot flippers who are waiting to sell the unit's once completed...

all blacks
post Mar 27 2013, 06:20 PM

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QUOTE(stanicmail @ Mar 27 2013, 05:59 PM)
If the property is for own stay try not to leverage too much. Maybe 50% loan.

If the property is for investment try to max the return by max leverage. Maybe 90% loan.
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If leverage 50%, at wat age can a person effort to buy hse? Nt talking bout ppl from rich family or sponsored dp..

By the time u save the other 50%, do u think the hse will be at the same price?

Think again... unless u r cash rich or earning five figures monthly wic will allow u to save super fast... In average how many percentage of ppl even belong to this category.. Ntg wrong wif leveraging debt, but play safe.. nt to stretch too far..
all blacks
post Mar 30 2013, 12:55 AM

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QUOTE(EddyLB @ Mar 29 2013, 11:50 PM)
Ok, you never openly "say" you switched side. But your "action" is a major betrayal to the DDD camp. 

If even you (who so firmly believe the market will collapse soon) can make a decision to buy a property at this time (a pigeon hole at RM600+ somemore  doh.gif ), it is the best wake up call for the DDD camp to reassess their belief of property bubble bursting soon. Look where has your buddy joeblow gone ? Probably busy searching for a pigeon hole near Subang ? laugh.gif
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Not again... doh.gif
all blacks
post Apr 2 2013, 01:36 PM

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QUOTE(Steven83 @ Apr 2 2013, 01:25 PM)
About 2 years already. U could call up and check further.
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I think there's few wic is close to 3 years vacant since VP'ed.. Even in places such as B.Kinara and B.Jalil, there's couple in Denai Alam and Puchong South which I have came across... But it also shows the holding power, nt easy to hold a property for tat long without renting it, but it could also be due to the lower property price but holding few properties at a time could be challenging...
all blacks
post Apr 2 2013, 04:54 PM

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QUOTE(Steven83 @ Apr 2 2013, 03:01 PM)
Yes, you are right. Because the existing offer and the renting are consider low for those owner. So, they rather let it go without renting it. In fact, there are more than 6 places I notice with that condition, from landed to super condo to apartment. I been travel across Penang and notice this kind of is kind of scenario occur everywhere. If got time, I will go sungai ara areas again. As far as my last visit was the place was about 70% empty without tenant etc.
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Sungai ara is not really a prime area but the hse prices juz increased like there's no tomorrow... I realize there's a lot of empty hse, especially near batu maung and also balik pulau... It looks like it's a panic buy and currently Png folks juz can't seems to afford it anymore, the salary back in Png is much lower than in what we earn in KL/Selangor so soon or later it's gone drop but it won't be tat much since island land is limited, nt so sure if the price is sustainable anymore.. But the condo's back in Png is becoming even worse, some looks like those condo's back in MK.. Empty... The worst part, rental yield is so dam bad..
all blacks
post Apr 3 2013, 10:48 PM

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QUOTE(EddyLB @ Apr 3 2013, 09:30 PM)
Nothing is impossible. If the new government really care about rakyat who suffer without own dwelling, they can implement harder regulation like you said :

1. LTV to 50% or even 30% for 2nd property onward
2. First house owner given 1st priority during launch
3. Developer gives 7% discount to first time buyer (sounds familiar ?  laugh.gif )
4. Force banks to give special interest rate to 1st home buyer (bank fulfilling duty of a good corporate citizen)
5. RPGT 50% for disposal within first 5 years after VPed
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I was having similar thoughts... n im nt sure how it's gone impact those huge crony companies..

For those thinking its nt possible, think again.. Some might argue tat, if gov going to do so then current hse buyers gone b in deep trouble so they won't do so...

But if tats the case then how bout car price, wic they promised to bring own 20% every year? It has huge impact to ppl currently owns a car.. so anything is possible..

On top of that if PR is seriously championing bout equality, the 3 rule might be possible if the take Putrajaya after GE13..

This post has been edited by all blacks: Apr 3 2013, 10:52 PM

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