I noticed 2 out of the 5 I'm tracking dropped their asking by 10% early this month. Something is brewing in the background... I can feel the fear... LOL!!!!

This post has been edited by Rooney1985: May 31 2013, 09:42 AM

well the 10% drop in monetary terms is around 400K to 500K... If I picked them up in the past 6 months I would have to fork out that extra... looking at rental rates is fine... IF I were to pick up the property now, that's already profit to me... converted to 10K rental pm, that's 40 to 50 months rental. In terms of loan payment saved... 450K loan for 20yrs is equivalent to RM2,800 p.m... in terms of FD rates that's around RM1K p.m... So you tell me whether I should look at rental or price first? LoL...

Plan to prevent further decline in prices is... don't buy when the risk of decline is high... (like now)... So in 6 months time, it dropped 10%, lets see what happens in the next three to six months. Like I've always said, I'm in no rush now, just relax la... See who can wait longer... I don't have to pay interest on my funds, however, these fellas have to or will have to very very very soon... LOL... Its nice to see the greedy suffer.

This post has been edited by Rooney1985: May 31 2013, 09:59 AM

The other 3 stagnant, but the fella is fishing, sometimes will ask slightly lower (3-5%) then back up (through agents though, so I guess it could be agents at work rather than owner giving green light) ... Those 3 I don't track so closely and ready to drop from list ... Have to find a replacement. Anyway, the principal is the same for other properties as well (in my opinion).

Good attempt but no, although I could find some replacements there provided they have potential. Thanks.

http://biz.thestar.com.my/news/story.asp?f...11&sec=business

An indicator of where property market is going for 2013???

I wouldn't ask who would gain but rather who would lose the most. My feel, its gonna be the financially weak and greedy property flippers who entered late and are still in the market... current conditions look like a stalemate in asking prices and available funds/ affordability of the market.... If the downturn follows... well... good luck.

Those who bought for own stay and what they can comfortably afford have nothing to fear in the downturn.

Those who bought for own stay on a stretched budget may have to cut back on consumption in situations where job losses arises in the downturn.

Those with ready funds can go on mega sale shopping spree at the expense of the first category (the biggest losers).

Agents will probably be out of jobs as well cos, in downturn everything goes... Its exactly like a situation of mega sale, everything is just on the shelf and its for sale. You don't need sales people to help you out or explain. They're so desperate to sell and recuperate funds that they're not going to share the consideration with agents... Furthermore, those with funds will take an approach of whoever more desperate gets slaughtered more... From the looks of the secondary market it seems that a lot of people stuck and can't get out, like they missed the window to exit... now that its peaked... well... what follows?

Anyone working in developer companies may face retrenchment. Even those in related industries (as per the earlier article on furniture). Those holding developer stocks may also suffer if developer's books are not healthy...

Sooo... before up camp ask questions (which they always love to)... which category you fall into? (Already have a feeling some up camp gonna ask which category I'm in)... But isn't it already obvious?

Anyway... this is not to scare everyone out there... just one of the possible outcomes.. may be opposite... your life, your decision.

This post has been edited by Rooney1985: May 31 2013, 04:17 PM

Fair comments... however, purchasing power is more a result of the competitiveness of the country in terms of resource utilisation rather than property prices. Too much corruption, lack of transparency, leakages as well as other factors leading to an unfriendly business environment is reducing the RM's purchasing power... The higher the property prices in Malaysia doesn't mean that you're purchasing power is increasing, it just makes it worst for the locals... for all you know currency exchange may out perform increase in property prices... property prices increase 50% but RM currency drops 80% its still cheaper for foreigners to buy. The Euro zone is already a fine example of this... countries that wannabe great have failed because they just aren't competitive enough to join the big boys.

Kiasu land's currency is larger because for every RM invested there, the returns are higher than in Boleh land... funds are not left idle and people are not lazing around.

Ofcourse there are also other factors, livability, pollution, safety, cleanliness, transport systems etc, etc... unfortunately Bolehland loses out on every front... therefore my conclusion is the prices in Bolehland are at a delusional high and the only way is down??? That's my take la, obviously anything can happen, the govt suddenly cleans up the whole nation in 1 months time... (not impossible) and we really start competing on a global stage.

There are industries that profit from downturns... but in regards to your example of the 100K loss?.. no because in the first place this 100K was not added value in the first place but resulting from speculation. If 100K was added to the value in terms of renovations and this was the loss when sold during downturn then the purchaser has made that renovation (i.e. it cost him nothing). However, he would have to consider the total package value as certain price components that went into the property in non value added and paying for non-value added components is what adds to the uncompetitiveness of the nation.

Very interesting question too... this would also mean that any subsequent market transaction that is below the last market transaction would mean that anything above this is consider non-value added pricing (why pay more when one can buy it cheaper)... well once this happens the spiral starts.

Hope that answers your question.

This post has been edited by Rooney1985: May 31 2013, 04:46 PM

True to a certain extent that increased property prices are due to currency exchange, but we also have to consider where these resources that go into building are coming from? locally? or imported? if imported by all means factor that into the price.. if locally... well something must be wrong somewhere that the prices are so high (corruption maybe... again not competitive)

If economy together with currency strengthens then well all should be rosy as long as this economic and currency strength is a resulting from competitive advantages... if not then again its just delusional...

I see no reason to disagree with your conclusion... maybe, for good economy, property will rise in terms of foreign currencies... but will remain affordable for citizens... again due to exchange rate (purchasing power).

Yes please post your fire sales here... LoL!!!

I can sense some UUU camp own a few props and make a few 100K (some on paper only) think they are taiko here... LoL... How sad... Funniest part is and already said so many times; if UUU camp know that prices only go up, then they should go buy more instead of trying to encourage others to buy... So what have UUU camp bought in the recent months???

Seriously don't understand... unless of course when others buy they benefit and there are only three scenarios in which that works... 1) they are agents 2) they work for developers 3)they're looking for exit and need buyers... LoL!!! you go figure..

This post has been edited by Rooney1985: Jun 6 2013, 03:05 PM

I'm fine with DDD buying in recent months IF 1) they are getting a really good deal (in terms of price psf) or 2) their circumstances have left them with no choice... some may have done it due to WH4 reasons... anyway for any other reasons, I find it pretty weird.

I'm sure every investor has a entry and exit target (in this case of properties, the price psf)... If that person achieved the lowered price that was targeted then why not??? Everyone's target is different some base on % decline from current market and some based on historical price and ofcourse some people go in blind and by luck they make it... hopefully they're lucky their whole life

Always good to go in with a strategy and stick to it (as reasonably as possible), if not might just get blinded by greed and get stuck chasing paper profits when others are already enjoying their spoils...

Of course there are the odd opportunities that come along once in a while that would seem like a very good deal... e.g. it may not be below market and even above market, but rarity of that opportunity has a premium... I don't know.. maybe? In terms of overall property market, IMO, there is no such thing... One man's food is another man's poison.

This post has been edited by Rooney1985: Jun 6 2013, 04:12 PM

Then you should buy now, cos by 2016, it'll be 1M.... no? LoL!!!

This post has been edited by Rooney1985: Jun 7 2013, 11:59 AM

For those who regret not buying in 2010, because prices have increased and no longer believe that prices may/ will drop then please quickly go buy now. The worst investors are those that always nag about regretting this and that, the only person you can blame is yourself for a bad strategy or for not believing in your strategy.

So what happens when you buy now at 700K and by 2014 it drops to 500K? Then you're gonna come back here and nag I regret buying?!?!? Come on!

You think its gonna go up in the future then buy, you think its gonna drop then wait... and don't go blaming others when it doesn't turn out the way you planned cos no one in the world point a gun to your head and asked you to buy. Maybe your gf grab you by the b4lls and force you but hey, you allowed it to happen so grow up and stop nagging.

This post has been edited by Rooney1985: Jun 7 2013, 12:12 PM

1) Y when prices are reasonably affordable, N when prices are too high (if still wish to buy, then have to be very very selective unless you're a billionaire then buy whatever and whenever you want);

2) Y if you're talking about nominal, N if you're talking about real;

3) Might be the other way around... foreigners causing collapse;

4) Developed countries, CBD areas... Y, developing-cum-3rd world countries (like bolehland)... N

Above is my opinion, please don't take it as advice to act upon and nag about regretting when it's turns out unfavourable.

This post has been edited by Rooney1985: Jun 7 2013, 12:19 PM

Not asking for help. Anyway already entered way before 2008. Maybe you need help to leverage on my statements, if so please be a bit more brave and say what you want to say instead of hiding behind other people's words... Or are you intentionally asking a question or asking for comments so that you can use a dup account to answer it?

LoL... sad sad sad... Btw, prices going up soon, you bought any in the recent months? LoL... if not (I have a feeling its a big NO) ... please share why... If yes please share where and how much... rofl!

This post has been edited by Rooney1985: Jun 7 2013, 12:29 PM

http://www.malaysia-chronicle.com/index.ph...-down?&Itemid=2

Its news like this that justifies the reason not to compare bolehland with singapore and hong kong. Everytime someone says cheaper compare to singapore and hong kong, I get the impression they're agents/ developer staff/ flippers... rofl... apologies to those who compare and aren't but that's the way it is.

This post has been edited by Rooney1985: Jun 7 2013, 12:47 PM

Thanks for sharing events in last year (FIRE SALE) and year before... hope you can answer the question, i.e. bought any in the recent months, if yes please share where and how much and if no, please share why... Thanks... (I take it that its a NO, cos you didn't answer the question in your first reply).

Just want to know reason you didn't buy only ... isit because price too high or no good location or any other reasons? Relax... you bought last year (because fire sale) i.e. not at the current market at the time la... so is it that you haven't bought this year because you haven't found any fire sales (below market)? Curious...

Yea spotted a few that dropped in asking by around 10% (I think this is mid 2011 asking price... please refer to my older post for more information and don't waste time asking me where and which cause I won't reveal. My relative in the midst of negotiating with one owner on price currently, they are currently at 2008 price, but my relative want lower so we see how that discussion goes... please don't ask where cos I won't reveal also... I hope my answer answers your questions... relax la... we're here to share mah...

This post has been edited by Rooney1985: Jun 7 2013, 03:21 PM