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Investment SQWHERE @ KG SELAMAT SUNGAI BULOH [OWNERS' THREAD], Inner KD. Located close to MRT. By SDB.
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Cavatzu
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 Dec 8 2021, 08:17 AM
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Sadly I know someone who bought here. The situation here is quite dire of course buying a large illiquid asset that has halved in value.
It boggles the mind that someone from an upper middle class family who pretty much grew up in the Damansara/PJ enclaves could get it so wrong and plonk down a mill here.
We need to do more to call out irrational behavior amongst people when we come across it so they don’t make such costly mistakes.
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Cavatzu
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Dec 8 2021, 09:41 AM
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That may well be true that FOMO was a major push for someone to buy but I noticed many forumers blasting this project even back then.
Back then at this price point, you could have bought in MK or even DPC. I’m more concerned about the decision-making process or lack thereof.
It’s a very sad story hoping the ugly duckling will become a golden goose. Moral of the story is if the majority have an adverse opinion then do at least listen to it.
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Cavatzu
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Jan 30 2022, 06:10 PM
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QUOTE(Babizz @ Sep 19 2018, 04:45 PM) true picture of this area: 15 people just died after drinking fake alcohol They had bought the alcohol at a place located along Jalan Welfare in Kampung Baru Sungai Bulohhttps://www.worldofbuzz.com/10-people-just-...-others-in-icu/Geez Jalan Welfare? Man looks like the town planners didn’t think very highly of the area. Once again luxury properties just do not work in non aspirational post codes. |
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Cavatzu
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Apr 16 2022, 08:14 AM
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QUOTE(bigman @ Apr 16 2022, 07:58 AM) Dun understand why got people willing to pay 800psf for this area… really get conned big time by agent and developer… super inflated price yet subsales and lelong unit much much lower than purchased price…. Kesian those buyers … I had family friends buy here and I felt like slapping them when they said “Sungai Buloh is the new Damansara” Now their property has halved in value easily. |
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Cavatzu
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Apr 16 2022, 09:46 AM
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QUOTE(bigman @ Apr 16 2022, 09:00 AM) Another 20 to 50 years maybe can turn to another Damansara… but high rise value will start to stagnant and drop after 20 years… so within this 20 years… the high rise in this area won’t see any uptrend movement due to super inflated price past 10 years that the purchased price was beyond 30 years can be said If people buy into this crap like Seremban is the new PJ or Jinjang is the new MK then god help us all. |
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Cavatzu
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Aug 11 2022, 04:52 PM
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QUOTE(PAChamp @ Aug 11 2022, 12:37 PM) Worth it to buy. ROI rental can get 4.5% and above at auction prices. This is from experience. So you need a property to halve in value for it to be an ok investment? How then for those who bought direct from developer? |
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Cavatzu
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Aug 11 2022, 11:37 PM
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QUOTE(wotpian @ Aug 11 2022, 08:14 PM) Bought in the wrong property cycle.... Consequences bought at the peak price. Many gurus usually bought their 1st property dirt cheap from subsale...owner sold it at loss most of the time. Or way below market price. For lelong units usually are for those got some financial buffer or richy... Coz unforseen issue. Rich getting richer. Now even rumahwip units also many lelong. Could be sapu by the rich too in lelong market coz price really low and they can easily come out 10% deposits. Bought in price so low in lelong market... rent out could easily get 6% ROI. But still paying 800 psf for SG Buloh is madness. Btw it’s not rich for someone to be able to afford a 10% deposit of a 500k property. There will be the opportunists and losers. |
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Cavatzu
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Aug 13 2022, 11:09 AM
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The thing is when you have a brand new project that’s pretty much halved in value. How long more for it to even recoup its original value?
I knew people buying here touting it as the New Damansara whilst scorning the tried and true areas of MK, actual Damansara etc. “This area will go up to 1k psf” apparently.
Really wanna rub it in their faces but na I’ll try a more sarcastic tact instead.
This post has been edited by Cavatzu: Aug 13 2022, 11:11 AM
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Cavatzu
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Aug 14 2022, 07:13 AM
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The SDB factor was perhaps too strong in this one. I wonder what their profit margin was on this.
So I’m guessing this place is now mainly home to factory workers who appreciate the nicer things in life as well as buyers who are stuck.
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Cavatzu
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Aug 15 2022, 09:52 AM
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The question then is if a project is launched way ahead of any development infrastructure that is meant to happen; would it be detrimental on that project itself? If this enclave becomes a budget oriented one when you were sold a luxury development in the middle of factories.
What is the upside of sqwhere if the median price for projects in this area becomes markedly lower?
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Cavatzu
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Aug 16 2022, 09:45 AM
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QUOTE(butthead76 @ Aug 16 2022, 06:29 AM) 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? |
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Cavatzu
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Aug 16 2022, 11:21 AM
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QUOTE(PAChamp @ Aug 16 2022, 09:54 AM) 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. |
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Cavatzu
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Aug 16 2022, 02:16 PM
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QUOTE(wotpian @ Aug 16 2022, 11:42 AM) Over here is not the early bird get the worm story. It is second mouse get the cheese story. 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. QUOTE(PAChamp @ Aug 16 2022, 12:27 PM) 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. Minimal la if you’re getting a newly VP property at half it’s selling price. Down right bargain. |
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Cavatzu
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Aug 17 2022, 11:23 AM
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QUOTE(PAChamp @ Aug 15 2022, 12:24 PM) 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. 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. |
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Cavatzu
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Aug 17 2022, 11:00 PM
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QUOTE(nihility @ Aug 17 2022, 10:38 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. |
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Cavatzu
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Oct 15 2022, 07:51 PM
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Really no man’s land here. Can bid when it hits half the SPA price. You’d almost wish the developers abandoned these projects.
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Cavatzu
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Dec 14 2022, 04:37 PM
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Wow 5th or 6th round not taken. Prices have really halved.
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Cavatzu
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Dec 14 2022, 06:06 PM
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QUOTE(xfree @ Dec 14 2022, 05:34 PM) Any issue with this condo? Walking distance to mrt unable to attract ppl come to rent it? The main problem is they sold this at 800 psf. Dead on arrival when vp because people would not pay the rent for this price point in sg Buloh. The auction prices for these units are less than half SPA. |
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Cavatzu
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Dec 14 2022, 06:21 PM
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At 800 psf, could have bought DPC and you’d be positive cashflow already as well as capital gain rather than knowing you’re paying a mortgage on something that has halved in value.
This is one of the worst examples of a poor buy in recent times.
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Cavatzu
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Dec 14 2022, 06:43 PM
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With all the high rise in Central Park Damansara launched by Exsim, this place will have no chance to take off.
They should have built landed here.
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