It's too late for buyers who already bought. Got burnt. Hindsight is always 20/20. What i am saying is at that auction price of 300++ to 400++ psf will get you some decent rental returns of 3 to 4%. I forsee some slight upside in the near term as inflation hits. However, there are better deals out there unless you want an investment around this area with direct MRT connection.

Screwed up already. Another development with a lot of investors, not the real owners who stay.

Yup, kwasa huge land, better future potential then this factories area. This sqwhere and dsara is a goner. Whoever touch, burnt kaw kaw. Unless you buy for own stay at dirt cheap price. But amenities is just headache.

I wonder if there’s any rationale to hold onto a property that has halved in value. It’s the same reason for people to walk away from loans.

So if the price floor set by the market is around half of SPA, what would happen if owners who wish to exit just sell subsale at that price rather than waiting for the Lelong process. Then does it become the new official market price?

In property valuation there is a market value and there is a forced sale value. Auction price is the forced sale value which is always lower than the market value between willing buyer/willing seller. Thus auction price is not the market value as auction price comes with more risk than the normal resale market.

Arguably all these lelongs from new developments should have minimal risk and practically be like a VP no? On the rare occasion you may find one that’s been fully furnished already then it went kaput.

Over here is not the early bird get the worm story.

It is second mouse get the cheese story.

Risks like there are already occupants there are minimal as it is quite new (but bidders are advised to check whether the unit is empty because you really don't want the hassle to go to court to kick out the occupiers). However the risks are in the double transfer process and obtaining the state consent, plus usually for auction cases, Bank will not bear any outstanding owings like maintenance etc. and auction properties usually have thousands if not tens of thousands outstanding.

Bumi lot unit sold at 348K.
Not much fight after all.
What a good catch.

Congrats to the new owner.
Double transfer process.

Indeed. I reckon for anyone shopping now - once you get the inkling that the project you like is not selling well just wait till developer either provides more discount or get it from auction. They can’t do the FOMO pressure tactics with so many units on hand unless you’re completely ignorant.

Minimal la if you’re getting a newly VP property at half it’s selling price. Down right bargain.

No no no, @askarperang, do correct the error statements

The auction bank will cover the outstanding maintenance fees and cukai taksiran up until the auction date.

Good to know. Different banks, different properties, different terms. I have come across auction cases where Banks won't settle. How about the double transfer process? Have to pay stamp duty twice? Apply consent at your own risk?

This place the commercial lot sure gg…mana ada free public parking in front of the shop for outsiders to park and shop? Got the gorcer inside also slowly dying…to park inside for visitor and reach that maketto oso like a maze…

You’re getting SDB build quality at this price. So at that floor price it’s a bargain. It’s likely reflecting the rental which means this is super budget for factory workers, foreign labour etc. This means this building is a goner once the own stay decide they don’t want to be in such an environment.

Really a bargain. But think still not cheap enuf for the company to rent it for factory workers & foreign labours. Usually they stay at flats or low cost flat. Like at the balakong Taming Jaya low cost flat area or above shoplots area like those shop houses. Usually bigger space, can fit more of them.

This post has been edited by wotpian: Aug 17 2022, 01:47 PM

Actually the most headache will be the commercial & residential maintenance ratio got the Strata Property . If either one side the collection are poor, the maintenance / up keeping will be at risk. The moments lift keep breaking down, the price will further falls.

So this would be a major risk for heavily lelonged property? They’ll keep numb about it unless it’s like 5 stones and their lifts.

not only that, if got private caveat you will be trouble. recently 1 auction got LHDN caveat rm100k+.

🏡SqWhere Residence@Sungai Buloh🏡
✅Total 7 Units Auction Units & All Vacant Unit👍🏻
🚋Link Bridge to MRT🚋
🏦Bank Lelong🏦#Sqwhere #Sungaibuloh

🏡SqWhere Residence@Sungai Buloh🏡
‼🤩Buy Now & Earn RM 241k🤩‼
🎉非常值得入手🎉

‼SA-13-09‼
Built up : 980 sq.ft
Leasehold
Auction Date : 27-Oct-2021
Reserved Price : 🔥Rm 459,270🔥
Bank Value : Rm 700,000
Rental Price : Rm1600-2000

‼SA-13A-07‼
Built up : 1,442 sq.ft
Leasehold
Auction Date : 27-Oct-2021
Reserved Price : 🔥Rm 688,500🔥
Bank Value : Rm 850,000
Rental Price : Rm2400-2800

‼SA-09-02‼
Built up : 980 sq.ft
Leasehold
Auction Date : End of Oct-2021
Reserved Price : 🔥Rm 459,270🔥
Bank Value : Rm 700,000
Rental Price : Rm1600-2000

‼SA-19-06‼
Built up : 1,765 sq.ft
Leasehold
Auction Date : End of Oct-2021
Reserved Price : 🔥Rm 630,000🔥
Bank Value : Rm 960,000
Rental Price : Rm2600-3200

‼SA-10-07‼
Built up : 1,442 sq.ft
Leasehold
Auction Date : End of Oct-2021
Reserved Price : 🔥Rm 607,500🔥
Bank Value : Rm 850,000
Rental Price : Rm2400-2800

‼SA-35-10‼
Built up : 1,055 sq.ft
Leasehold
Auction Date : End of Oct-2021
Reserved Price : 🔥Rm 477,000🔥
Bank Value : Rm 700,000
Rental Price : Rm1800-2200

‼SA22-03A‼
Built up : 980 sq.ft
Leasehold
Auction Date : 22-Oct-2021
Reserved Price : 🔥Rm 560,000🔥
Bank Value : Rm 700,000
Rental Price : Rm1600-2000