i say u r wise and did it rite.

keep asking high price = greed = stuck.

hope can be illusional... so, best u get real and check the market on the ground.

this thread, if you complain somemore, they'll tell u to get off yr lazy butt and work harder, incl weekends, part-time whatever.



i doubt prices are falling yet, but i f u do enuf homework and negotiate hard, good chance u find wat u want/can afford.

while there are long noses asking high price, there are also realistic nervous motivated sellers - just u sniff them out, which one is which.

May i know where is the unit u have bought?
i did search around sub sales but either it is too expensive or too far away from city, and those which is near to the city are low cost units, which tend to have high crime rates.

I have done 2 part time jobs. If i can i will do more, but i am very tired.

I dont mind the housing price getting higher, but it doesnt mean i am willing see the price rising 50% higher after 2 years where our salary rise only 5% per year.

Well done, u will succeed as long as you don't give up, it's for people working hard like you.


You can look for Pelangi Indah at Jalan Ipoh, 3bedroom condo freehold around 200k(or less than that)

Work hard, invest smart!

Spend to what you can afford. Its all about planning. Strive for self improvement and make things happened rather thn waiting for things to happen.

Actually many people might miss out something, there're many Kv outsiders move to KV to study and eventually found a job here. Despite sending parents pocket money back to hometown, they also need to pay the rent, utilities bills, medicard(coz parents didn't buy for them), car installment(no free car from parents), travel fees(go back hometown once a month) and etc. in this case no matter how hardworking you are, you already lose at the first place because you have too many bills to pay before it comes to savings. In short, young people staying with parents (+ if have FAMA foundation) will have great advantage at the starting point.

I was a typical example. I worked two jobs, before I go to work everyone is still asleep, and when I came back from work everyone already asleep. I was caught by my students and neighbours falling sleep at car park for hours because I was too tired, and I met few accidents before I didn't had enough rest. I always buy cheap Malay food at the roadside and I ware used clothes. I never go into cinema and I never had vacation because I couldn't afford one. I was just hoping that I can save enough to continue my studies but I didn't manage to.

But it never end of the day, I survey, I read, I invest. I continue to work hard, when my same batch of friends graduated from Uni I owned 3properties and every month they give me positive cash flow. I thank God that even I dropped my studies and I didn't give up because the tougher the life is, the stronger you become. I have clearer vision and target because I know my hardwork will give me return, and it does. Don't feel sad if you are at the same situation like I was, we just need to work extra one step to get what we want. Find properties within your comfortable budget and please study well before you buy any, good luck!

+1

Search harder....
u wants prime area below 300k...... Here's few.....
Taman Desa, Abadi Indah Condo
Taman Desa, Danau Murni
Kuchai Lama, Meadow Park
Kuchai Lama, Bremen Park

This post has been edited by AppreciativeMan: Jul 13 2013, 08:21 PM

understand u, u r not alone.

chicken prices going higher, maybe even shortage. tnb rates poised to rise. all of them 10% each rise. salary...3%, 5% p.a.

there r 2 camps, both held very closely to the hearts and minds of their supporters:

1. it wil always go up, non-stop, people still buy and keep buying, if u dun buy, u miss
2. there'll come a point people simply cannot afford to buy, prices must come down, chance for all to buy then

this is the basis of 11 versions of this thread. there is no clear answer yet. so the thread keeps going.

the answer will only be found when there is clear convincing data on prices falling significantly.

or a full recession has arrived.

at that time, this thread will become moot.

This post has been edited by AVFAN: Jul 13 2013, 08:24 PM

Aussies come here to buy for investment? Is still ok, but rental or own stay is not quite convincing ....... too far leh......

Bro, I beg to differ. The thread has gone to 11th version, coming to V12. Those UUU camp seems to be right all this while. So the answer is quite clear (up to today)

Downturn will sure to arrive 1 day. Therefore those DDD camp will be right 1 day and say "I told you so". But when that day comes, it doesn't mean that the UUU camp is wrong for the last few years. For those who bought in 2009 for say, RM500k and the value is RM1m today (100% gain), even if the downturn cause the property price to go down 30% (RM700k), they still are making gain

There are many 1st home owners like debbie throughout the 11 version. Let's say debbie did ask in the 1st few version in 2009 whether she should buy or wait, and she takes the advice of DDD camp. She would have missed the opportunity on hindsight. Likewise, if she takes the advice of UUU camp, she could have made 100% gain and posting comments like the UUU camp here

So, let's just wipe out what happened for the past few years, and start all over again now. I would say the chance of the market going down is 50-50 only. Should debbie wait or buy ? She will be facing the same situation in 2009 when we have V1 - nobody knows the future. So, if I am first home buyer, I would buy whatever I could afford now and don't bother what will happen to the market (because up or down, I am not going to sell it anyway). It is a calculated risk I will take and the risk is just like the outcome of flipping a coin - 50% chance I will be right

This post has been edited by EddyLB: Jul 13 2013, 11:25 PM

Lazy and hard to explain or share some genuine profitable cases. But after so many versions of market up, maybe after another few 10 versions up camp should giv way and let the I told u so take over.

So hav to rush to add another few 10 versions fr now on.

Cheer.

i don't disagree with you on the "historical" part.

it is true if one did not wait in 2009 or 2010 but bought something, esp for own stay, it would have been a fairly good decision. i have no idea when v1 was as i got here only late 2010.

however, i am less sure if the same can be said for those bought in 2011 and onwards. again, for long term own stay, probably will turn out ok. for investment, particularly flipping, i am even less sure they will make good money. of course, there will be a range of results, but i seem to observe a good few types in diff areas now now being subsold in the market for <20% gross gain, which translates into a miminal net gain. no loss, that's the sure. but those holding vacant units are paying a lot of interest, so that will count in the end too.

i have never held the view that there will be a big crash, but i do think subsale prices will continue to soften but <10% or so in the coming months mainly due to subdued subsale demand. so, if i am thinking of buying for own stay now, i will take my time to bargain like hell but will still buy after all work is done. buying to flip, count me out. i'll rather wait to see strong signs of a new cycle.

This post has been edited by AVFAN: Jul 13 2013, 11:59 PM

i noticed the prices are up again all this due to the inflation.

That is a very objective and close to reality observation. Those flippers who jumped in 2011, 2012 and 2013 may face bigger risk.

I always think the risk of the property market downturn is in the world economy. If world economy faces downturn, then Malaysia's economy is affected. Hence wage earners will face losing jobs. That is where the risk of bubble burst comes in. But I think world economy looks better than 2011/12 after the Euro crisis and USA is on recovery path now.

My flow of thoughts for the property market not going into a downturn is like this :

1. Banks in malaysia lends to only qualified borrowers (not like subprime loan) --> only a certain % of wages can be used to service loan installment. It is not like if a person wants to buy 10 properties, the bank will lend to him. It all depends on his affordability
2. So, if property owners' job is secured --> they can service the loan even if rental market is not good
3. If malaysia economy is on positive region --> their job is secured --> No forced sale
4. Malaysia economy depends a lot on world economy. If world economy is ok --> malaysia will be ok
5. Currently world economy seems to be better than 1-2 years ago --> euro crisis improve + USA improve. (although now China's turn to be of concern)
6. It is true if interest rates goes up by 2% or more --> installment increase --> property owners will be affected --> forced sale. But judging from the world low interest rate environment, I think the interest level will remain the same. But the risk of interest going up is there
7. BNM and banks has since late 2012 became more stringent. We can see now usually the bank valuation is lower than market, LTV is lower and many rejected application compare to pre-2013. I think after the limit of loan tenure to max 35 years, this coming budget we will have some more mild curbing measures of property market. If the market can be cooled down slowly, we will have a healthier property market which increase more normally

So I think property downturn is depending a lot on world economy. And it is only 50-50 we will see a downturn. Just my tiny opinion

Ya you remind me of GST. If it is implemented in budget 2014, the housing price will go crazy.

I'm a flipper at heart for prime area properties be it new or subsale
Scenario A: If bought a property at 150k in 2008/9, now paper worth is around 450k, my gain is 3 times! I became overnight millionaire if bought many similar properties and managed to sell all with 1.x to 3x profits gain!

Scenario B: If bought a property at 500k in 2012, nobody will expect it to reach 1mil in another few years time like how 2008/9 to 2012. Give it 5 years before flipping, for argument's sake maybe can sell at 750k.
So profit gain is 1.5x, and that is very optimistic at 10% appreciation a year throughout the 5 years time! Not forgetting the rental yield % per year too!!

Calculated risk
Scenario A: Risk, net gain, cost to buy and serve loan, affordability of mass market when planning to flip, rental yields
The scale of all above is small to medium

Scenario B: High risk, High net gain?, High cost to buy and serve loan, High affordability of mass market when planning to flip?, High rental yields?
For majority of the people the fact are High Risk and High cost to buy and serve loan

Scenario C >5 years in the future: Higher risk!, Higher net gain??, Higher cost to buy and serve loan!, Higher affordability of mass market when planning to flip??, Higher rental yields??
Not favorable for flipping (buy low sell high), if nothing is done to control the prices it could be a rental game as more people will need a place to stay (fresh grad from all around)
Either that or most of us will be paying salaries to the bank whole life

Lesson learnt: unless rich don't be a mad flipper at this time (i believe buy low sell high is long gone for the short term), play rental/appreciation if have strong holding power, or best of all be a part time property agent to earn easy agent fees!

Ask any aunty/uncle that hold many properties back then, can you buy the same number of prime area properties now? Or rather, can you earn the same amount of money by flipping properties now?

We don't need a downturn, but please stop the crazy speculation now! Else our kids all later susah mau cari makan le (not to you, you rich fag)

my read is the flipper rush peaked in 2010, which means the "then" majority has gotten "off the boat" by now, made good money, with some still holding on or facing difficulty in selling.

there are flippers still post 2011 but i believe is less in numbers and total value at any one time. couple that with those bnm measures, the situation is probably not as bad as some might think. but the debt levels reported do lend support that not all is well. which is why i hold the middle ground that if there isn't some global meltdown or a recession arriving, the subsale prices will most likely be flat, +-5 to 10% for the next couple of years at least.

however, if a financial crisis emerges from china or currency attack or what not, i see boland as ill prepared. the difference between now and 1998 is the few hundred billion debt accumulated to keep the 15 years going with another ?? billions illicitly gone out. notice bnm has been saying time and again, "interest rate unchanged due to weak external factors... growth due to robust domestic demand"? in other words, it means malaysians overall have simply been digging deeper into debt to consume to keep the economy going, not unlike greece or portugal to an extent, a fact supported by the fast growth of debt, even now. so if and when the shit hits, it will likely be a lot worse than 1998-1999.

This post has been edited by AVFAN: Jul 14 2013, 02:03 AM

Property market in KV seem like gold rush in Ghana, DIBS is god giving $.

If China national are allowed to buy DIBS properties, price could easily double over 2 years period

When sugar price increased 10 cents per kg, cup of kopi increased also 10 cents. If 6% GST is introduced, house price expect to over 6+%! Instant profit!

World economy will effect Malaysia economy? Worldwide recession in 2008 didn't impact Malaysia at all and property started to gain then. Malaysia economy is resilient and won't be effected by the U.S, Europe, China, Japan or Ghana.

Surprise that not many people are full time flippers

Disclaimer: High return means high risks. Past records doesn't implying future performance. Understand half of economic theory may be worst than ignorance. Invest at your own risk, don't blame me for any losses.

This post has been edited by icemanfx: Jul 14 2013, 04:27 AM