3 subtle event occurred this week....

1) Crackdown on immigrants,
2) Petrol price increase,
3) Announcement on slowdown of infra projects by Gov

so what is the future impact???

I just got a call from concerto.... Telling me that phase 3 got choiced units at additional discount, making it similar pricing as phase 2.... "only 20 units sold, so hurry up".

😎😎😎🐟🐟🐟🐟

No need for OPR increase, exchange rate increase etc to cool market and increase foreign confidence...

Dun think BNM will raise interest rate in Q1/2014

From STAR today

-------------------------------------

Hot Issues For Consideration

07 Sep 2013
OF late, there has been talks that the real property gains tax (RPGT) may be be reinstated in the coming Budget 2014 to be tabled next month. Real Estate and Housing Developers Association (Rehda) has written to the authorities to state their views. Bank Negara is also studying the possibility of banning interest bearing schemes. The Developers' Interest Bearing Scheme (DIBS) is said to encourage speculation as buyers need only to pay 5% or 10% downpayment and need not pay anything until the property is completed. The return of RPGT and the possible removal of DIBS are signs to prepare the property sector for the challenging times ahead, as seen by the volatile stock markets in South-East Asia. While Malaysia has to tackle a number of issues in the greater framework of the economy, there are three issues befuddling the property sector - bubbles, speculative elements and affordability. Developers want a benign RPGT regime and the DIBS to be maintained while certain quarters want the return of the old tax structure of 30% tax on profits on disposal in the first year. The RPGT is both an anti-speculative and revenue-generating measure. RPGT will play its role to curb speculation, says property consultant Elvin Fernandez of Khong & Jaafar group of companies and the House Buyers Association (HBA). During the last two budgets, HBA had anticipated a tax regime with more bite and was sorely disappointed. There was a time when not all developers offer interest absorption schemes. Today, most are pressured to do so. Says Rehda president Datuk Seri Michael Yam: "It helps people get on the house-ownership ladder." "It also nurtures speculative tendencies," says Elvin. Incidentally, interest absorption scheme was the first to be banned by the Singapore government as early as 2009 in a series of measures to cool the property market. DIBS aside, the larger issue is transparency, says Elvin. When developers offer DIBS plus a host of other incentives - rental guarantee, cash back payment, free furniture, free stamp duty and legal fees - banks and lending institutions provide mortgage loans based on the larger headline figure inclusive of these discounts. A mortgage based on the real price, without discounts, would reduce the loan amount and lessen household debt. Discounts tend to bloat up the loan amount by another 10% and 20%, says Elvin. The provision of the real price, without the discounts, gives a true and real picture of the housing market. DIBS and discounts have also resulted in a buoyant primary market. In 2009, the National Property Information Centre recorded a total of 211,600 residential transactions, of which 12.24% were purchases from developers and 87.76% from the secondary market. Three years later, in 2012, out of 272,669 transactions, slightly more than a fifth (22.09%) were purchases from developers. "This has never occurred before. This is an extraordinary jump, and this is because of DIBS and the discounts given," says Elvin. The shift in the market is clear and this represents risk, he says. On the issues of housing beyond the reach of many, about a third of housing in the country is below RM150,000. Some of them are in enviable locations, for example near Jalan Maarof in Bangsar Kuala Lumpur. But these are not well-maintained and young professionals do not want to live there. It boils down to an overall property management issue. PR1MA Corp Malaysia CEO Datuk Abdul Mutalib Alias says more than 20,000 homes will be built under 15 affordable housing projects in Greater Klang Valley, Johor, Penang, Sabah and Sarawak in Phase 1.

Huh? Do u know what u r actually saying? Do u know that salary hasnt moved much but property prices have moved so much that gen Y cant catch up? And the loan period, we only have 35 years, not 40 years now, mind you. Even with 35 years, u think that is good affordability? We have to pay until we are old, liao. Yeah our salary hit rm10k by 30 years old. So what? A rm7k earner also finds it hard to afford normal houses these days. Not like last time. There is this thing called inflation too. Look it up. Remember, it is the gen x that shaped this screwed up malaysia for gen y. Not to mention that gen x inherited most of the lands from previous generation freely and sell and used the money gao2. Gen y got nothing mah. Check la which generation that boasts about having so much of land. Gen x or gen y? Gen x was imho the right generation to make money because they came in just after merdeka and development was quite rapid. Now gen y peeps have to be more creative to get the same wealth. Gen x gets scholarship easily with stupid results. Gen y no way. Gen x easily gets a job with a degree. Gen y not easy to get a job with just a degree. Just because u r not gen y, dont think that situation is easier for us. I am speaking in general by not considering some exceptional cases.

This post has been edited by AMINT: Sep 9 2013, 08:43 AM

You forget another important stuff to compare to. Malaysia property can't be compared to HK or SG. Know why? We don't have massive quality skill foreign worker come over to work here and become PR. The price is drive by those who work oversea, speculator, investor that take advantage on cheap currency. One day, they will have their profit taking.

if they really having that good sale, they won't even bother to call you up.

Fun event coming soon.

+1 (all para except last para)

The highest contributor to our GDP is property sector. IF they cool it down, GDP might shrink which stakeholders might not want to see. Hence, i don't think gov will do much on this & if they do the effect/impact is unlikely to be significant/temp. Eventually, the % increase prop px will more than the % they try to curb.

Agree that some Gen-Y earns alot but spending like "waterfall" or like "big water supply" - spending habits

This post has been edited by Curious Guy: Sep 9 2013, 10:38 AM

Dont think the ban on DIBS will prevent developer from coming up with reimbursement plan for purchasers. I heard a few developers are cooking up this scheme. Whether or not they will fulfill the reimbursement is another question.

last time RM1 can buy 5 karipaps
Now RM2 only buy 5 karipaps
So RM10k now is RM5k for the prveious generation. Inflation inflation inflation.

And talking about previous generation screw us up, Who the hell agree with the existence of PROTON? Stupid morons! Should have known better. I was a small kid, so I dont know and cant say much. Previously I heard from people good branded cars were quite affordable by Malaysians after Merdeka. Then came PROTON and screw everything up for the new generations. Now good luck for us to buy good reliable cars that is worth the money. Good luck ever for the government to really do what they say and decrease the car price. They talk only, but they wont do it. Stupid previous generation.

Actually car prices did not go up for the past 10 to 15 years. It used to be very expensive compared to properties. Now, it is quite affordable RELATIVELY. Obviously, still expensive compared to other countries.

If you can't afford to buy then rent. Until you can afford to buy. That simple.

gen Y, Z.. , pls read this

http://www.starproperty.my/index.php/artic...-concrete-step/

car prices before the existence of Proton which is more than 20 yrs ago was much cheaper. That was what I am trying to say.

This was what I have been trying to say from the start when I entered Low Yat forum...I said dont buy a car at all. Buy property first and worry about how you will want to go anywhere later....and can always buy a motorcycle.

Dude, i am not talking about me. My case is exceptional. I started buying when i was 23 years old. We should talk about general gen y.

This post has been edited by AMINT: Sep 9 2013, 02:04 PM

Car is the basic necessity for any youngsters starting to work unless you can rent/buy properties near to LRT and your working place is near to train stations too. Even if you take LRT and rent a room, it can be quite dangerous also as many snatch thief cases happened while walking back to the rented place. In this aspect of ensuring safety and ease of access to public transport, the 50 plus years government had failed us. Kudos for them for building LRT extension and MRT, but it is 10 or 15 years behind schedule really.

Not safe riding a motorbike though. Guys can ride but how many working office ladies ride motor to work?

Same advise. Rent until you can afford to buy. Buying a property is not a necessity. One can always rent