poorperly price inflation without corresponding income rise is unsustainable, and made worse by over supply.

This post has been edited by icemanfx: Oct 23 2020, 11:22 AM

same fate with m-city. now is the real adjustment of market value. 450k

yah.. GG.com d

Still have room to drop. They havent factor in the further depress in rental after reizz and astoria VP. More competitive rental price war in the future. After those 2 VP, all previous investors in this area will continue to suffer from a negative gearing investment.

I think there will still be a bottom line that the lelong unit drop the price right.. kesian those owner.. not to mentioned those that who purchased KL view premium.

I guess so. But there was a property that dropped 10 times selling at 65% price drop from reserved price. So... definitely could have dropped more if no buyers..
https://forum.lowyat.net/topic/4239930/+3960

But lets get back to M city: clearly it was still too high. It was auctioned at 46% more (540 psf) of that of arte plus and the elements' lowest auctioned price (368 and 369 psf), the buildings are literally side by side...
Even subsale elements cheaper than lelonged m city...
Elements - 460 psf

On top of that the, rental is destined to drop more when reizz and astoria VP, which will further depress the subsale price.

My best guess is the previous bidders either FOMO-ed or tricked by auction gurus' over-promised resale value in the subsale

This post has been edited by HereToLearn: Oct 24 2020, 02:53 PM

No bottom price. Will continue drop price 10% each round. Now got some banks even proactive. Drop price 20% straight. No need waste time.

Here an example.
From 1M drop to 389k. 10th round re-auction: https://forum.lowyat.net/index.php?showtopi...post&p=88721153
And only attract 2 bidders.

I thought at some point, after the price has dropped until too low, the banks reappraise the value and relelong again in the future?

OMG... kesian Gilerr!!! really unfortunate!! then normally owner have to declare bankruptcy before the property goes to Lelong issit?

I think the rental will gonna drop more its becoz of the density. Just imagine, few thousand of owner fighting for the rental... only the lowest one will win.. at least cut loss. and also a lot of owners rather stick back to their initial rental value... and rather hold it for long.. until they cannot tahan... so now its not the owner market.. eventually people gonna press the price until owner have no choice.

Agreed. For sure, it will drop, owners will continue to suffer from a negative gearing investment upon reizz and astoria VP, and possibly rejoining the auction properties.

you know what... I passed by that area again today.. PV joining the game.
the more the merrier... buahahhahah

At the moment no development on the land where pv advertise.

They have a plot around here.

Wheres the exact location in google map. Mind sharing?

If super near to the 5 existing condos, This area... confirm have and will continue to fck investors, rental will be crushed, price depreciation will be further worsen

YET

T1-07-09 sold at reserve price 430,467. Single bidder won unchallenged. Good catch.
T1-05-09 no bidder even though at cheaper price. Dont know the reason why. Maybe owner staying? Next month will drop to below 400k. Stay tune.

Upcoming list of cheap lelong units from Arte plus.
Expected auction date: Mid Nov 2020.

1. T1-05-09, 1047sqft, RM 378,820.
2. T1-10-06, 996sqft, RM422,300.
3. T2-23A-01, 1121sqft, RM430,470.
4. T1-20-06, 1118sqft, RM430,470.
5. T1-29-06, 1141sqft, RM446,200.

Super markup property.

Interested on 5. T1-29-06, 1141sqft, RM446,200.
How much bank valuation?

Looking to refinance to get the money

Whow... by looking at it.. i think more units gonna be in lelong, and the price gonna be crazily low. btw.. how to join in the auction? where to find all these lelong unit.. im interested to know more...

registered for an auction later this week, RM300k reserve price for 630sqf, just saw all the feedback here, do u all feel i should proceed bidding it with so many issues raised here?