Don’t know if it’s unprecedented but having a complete ownership change of primary buyers via auction or aggressive subsales.

The auction unit that I bought early this year are oredi going up in price. No new auction units for tbe past 8 months. Last transacted is 60k above my bid price.

Some of the units here are already cheaper than rumawips I believe

Maybe I wasn't clear enough. There is no need for complete ownership change lah. Just those owners who cannot hold ie. motivated sellers or auctioned by bank. The Majority of primary owners there can hold the property for years and years. So once all the owners who are "financially challenged"have sold or their units successfully auctioned the prices will rise.

Wow that's good. But is it easy to find tenants at that pricing ?

Real case sharing. More than 1 year lelong process. To buy Sqwhere via the lelong market.

The delays and all the transfer costs can be a bit of a turn off but many will be trigger happy. Psf needs to be low enough to make it worthwhile.

Omg after 1 year only able to get the access to take over the unit. If let said loan disbursement at 120th day, the winner serve at least 8 month loan installment before entering his unit. I can't feel how suffering the timing to be wait to take over the unit. I though after loan disbursement can take over already. I think either developer or jmb is very strict on this take over process

8 months also kenot tahan meh? Already deep discounted leh, imagine the original buyer, waited 4 years, paid progressive 4 years then kena lelong and most likely bankruptcy as well

easily 200k profit, 8 mths how much only?....hahaah....

Where does this paper profit come from? Who would buy this subsale?

From SPA price + progressive interest saving kot (off ori buyer) ?🤭🤭

This post has been edited by jojolicia: Dec 30 2022, 07:48 AM

I’d be surprised if people pick this up from 500-600 psf.

....from SPA price lah....

Subsale I would buy if 300psf....hahahah

If only bank dare to lend you spa price (refinance) to cash out then you can use the money on other higher roi things loh. If really for profit, then look the rental. Subsale property market value determined by rental. Psqft how much, rental market tell the fact. But lah, for this kind of very high dropped price property. At subsale market, the seller can still offer 0 entry.

Example bank value 700k
Auction 450k
Selling price 550k
Legal, stamping, mot, miscellaneous fee all can be cover by markup loan to cover.

So still a good flipable property at this project if the price winning is low enough.

Winner of the most auction property of 2022. Just shows MRT can't save any ulu location.

I wouldnt say is entirely location problem, otherwise all units will go under hammer

% of auction units matters comparable to other places.

It’s a demand problem. If no one wants to live there, what can you do?

My unit after furnishing and fittings rented out in less than 1 month. You have to budget some money to put in basic furnishing and fittings.

Good to know there are tenants readily available. I will be very worried if no tenants come forward to rent.