If i had the cash and were a bumi, i would buy. Prices are so low because there is a need for double transfer process whereby successful bidder needs to pay stamp duty twice in the tens of thousands plus legal fees plus all the outstanding arrears in outgoings. The fact is the buyer profile needs to fit ie. cash rich bumiputra... That size unit can easily get rental 1,500 to 2,000 (if do reno and split unit) which would represent a gross ROI of 5.3% to 7.1% (very good in todays market)

This post has been edited by PAChamp: Dec 23 2022, 09:37 AM

These are buyers that bring property prices to rock bottom. Location and pricing do but small %.. In the long run, property prices should rise in tandem with short supply at the location when land are fully developed.

As for the couples, they deserved to be banktupt so as not to to disrupt the property market further. Thanks to their guru, whoever.

This post has been edited by mini orchard: Dec 23 2022, 09:41 AM

Dont really need cash rich buyer. A normal working couple should be able to qualify. Put the the big exp in the loan sum and he oredi a winner.

Close to Rumahwip and rsku pricing.

This post has been edited by mini orchard: Dec 23 2022, 09:45 AM

Yup. We already know the yield it’s easy to make a decision now for auction market buyers. The only question left to ask is whether the capital will be better deployed elsewhere for better returns.

The points about surroundings raised by others, no matter how bad there’s always a value as pointed by mini orchard. This is still a TOD. And with all the positivity during launch and the negativity currently, the value is likely somewhere in the middle

Reason why need cash is because there will be a mismatch in the auction terms requirement ie. need to settle in 90 days while bank loan will need the whole process of double transfer and consent application which will easily take 6 to 9 months. So if you are cash rich, just pay first, apply loan later.

Agreed. The double transfer is a big drawback.

If the auction bank can give extension, then it would be easier to sell. Havent read the pos, so not sure is 90 or 120 days.

When I bought an auction property early this year, some of the work I diy in advance instead of lawyers doing it.from start and all legal paperwork completed in 2.5 months.

Important is secure your loan early to gain extension. Interested buyers just talk to askar perang don’t be put off by double transfer

It’s also a very valid investment strategy to scare away competition with awful horror stories so one can pick things up on the cheap. Just a few pictures of dishevelled looking people and faeces on the floor would do the trick.

Ah I doubt lowyat buyers are in auction, perhaps you 😁 good luck in being the next single bidder

Unfortunately those were Bumi units so one needs to get around to Tanya levels of publicity to really make a dent.

Well even if you’re qualified bumi lots certainly won’t interest you. There’s a whole pipeline anyway, the tap well and truly opened. Last I counted no less than 10 coming so take your time and take your pick.

Two units sold this week. Both non bumi lot.
Same size: 1055sqft.
SA-16-09 sold at 391K. Single bidder won unchallenged.
SA-17-09 sold at 404K.

Rest of the units no bidder.
Will drop price further 10% next month.
Bumi lot unit of the same size hit below 350K now.

Condragulations Sqwhere! May you have a stellar track record for the coming year.

This place got public transport ? Unifi ? Time broadband ? 5G ?

Bro this place is TOD. There is a direct covered bridge link to MRT Kg Selamat (i think). The rental market should be no problem if the price is right.

2 more round for an upsize rumahwip 🤭

People really should consider it for own stay or investment at this price point. It’s quite a high quality development with great facilities.

The primary buyers have lost their pants off to give you this good deal.

Sir. Thank you for the reply. If rental about how much per month can earn ?

Small unit 500 + sq ft already fetching 1200 partly furnished (actually rented). You can pay under 400k for a 1000+ sq ft unit and rent much higher!

Once the market absorbs all the auction units then the prices will begin to move up as the floor has been reached.