Taugh property to get loan. 

I saw three bungalow projects, with CF and VP issued long ago, left vacant for a long time (at least over one year) already.  The price tags is >2 mils.  Out of 30 - 40 units completed, only 1 was occupied.  One of these projects is in shah alam, the paint started to fade already.

My fren sold his 6.8mil bungalow bout less than a yr ago. Vely niche but buyers r stil out there. Tats y vely few players. Most ppl buy bungalow for own stay. Vely few in the oledi vely few investors buying to flip. Holding power is important here.

So it comes back to my previous calculations. After vp, it takes +10% to break even after interest, rpgt, fees, etc. if hold for 1 yr. Price not up 10%, not rented = lose money.

Buy shop factory and land. Beta than any condo. Howeva, if kenot repay loan, dun buy any.

Courtesy of malaysiaminion in the fennel.

http://www.theedgemalaysia.com/highlights/...lden-goose.html

Really really dumbfounded!

In the U.S, Spain, Greece and U.K, foreclosure units could go below 60% of peak price. One don't need millions to pick up good properties. Those who didn't buy at peak unlikely to have bad CCris record hence bank loan won't be a problem.

I'm most curious, why the average Malaysians die die must own a property instead of comfortable with renting . Renting not a bad option actually. Don't like the place, can simply move out. Can upgrade residence without needing to worry about assessment, rpgt, maintenance fee etc etc... 

NY also dropped during the US bubble burst  - http://research.stlouisfed.org/fred2/series/NYSTHPI, but nowhere near as severe as others, perhaps only 20%.

But yes, agreed that it will strongly depend on locale. Surely most at risk in Malaysia at the moment is Klang Valley, Penang, Iskandar

Penang Forum backs steps to cool house price rises

Penang Forum steering committee
11:35AM Dec 17, 2013

The steering committee of the Penang Forum welcomes and supports the recent announcement by the Penang state government to introduce new measures to cool the escalation of house prices in recent years.

The unsustainable rise in house prices in Malaysia, and many parts of the world, is due to many factors, some beyond the control of the local, state and even federal governments. A large part of it is due to the quantitative easing and loose monetary policies of advanced countries that have kept interest rates low.

In an environment of low or even negative real interest rates, many turn to property investment to beat inflation. Unfortunately then, housing is seen less as a means of consumption (a place for people to live) and more an asset class for investing and speculating. Just note the high percentage of unoccupied units in high-end residences. This is the basic reason for the huge increase in house prices.

Governments at different levels - federal, state and local - have different powers and instruments at their disposal to control house price increase and each must play its respective part. The federal government and Bank Negara have rightly introduced, though belatedly, measures to curb house price increases through lower loan to value ratio and incremental real estate property gain tax.

It is good that the Penang state government is introducing fiscal measures, in this case a levy on property transactions to curb speculative buying. The policy to impose a moratorium on sale of affordable, medium and low housing for limited period (five years for the former and 10 years for the latter) is also a right step.

As stated earlier, we encourage housing as a means of consumption, not a means for speculation. The latter hurts the ordinary people and benefits only a minority.

We urge the local council to also play its part to introduce measures such as incremental development property tax (higher development charges for high end housing and lower charges for affordable and low end housing), and stricter planning and approval conditions to discourage the over-supply of high end housing and encourage the supply of affordable and low end housing.

Hmm.. some sensible thought finally. 

It take 2 to 3 years from first classified as npl to auction. Don't expect hike in numbers in auction til 2015 or 2016.

it is not logical anymore.. high rise which is obviously oversupply and if they cant sell it for half a million and above planning to rent the said property out for 2k-2.5 k so that can cover their loans.. u tell me ppl if really fork out that 2k-2.5 k why not they just purchase it so that they are paying something which they will be owing rather than to ease these flippers...

shop houses now 4 storey lately was a hit selling at RM2M by developers and then 5 M of course by high end flippers come one.. even with 2 M how much are u guys servicing the loan easily 9K pe rmonth.. of course again u will plan to rent it out at least 10k-15 k.

what kind of business you are operating haizzz.. most of the time even in mature area like puchong, shamelin, maluri, taman miharja, Klcc areas, plaza pekeliling and many unlisted needless to say.. only the ground floor is being occupied the 2, 3 4 floors are vacant.. arent you making loss if the are vacant.. the promises and targets propounded by developers and agents are mere tactics to hold you in to purchase the properties.. they themselves also don want to buy haizzz

shopping malls as well cant u guys survey so many shopping malls in KL viva mall, cheras central, 1 shamelin, southgate, spark desa petaling, carrefour, tesco midah, jusco malauri, leisuremall, jusco bandar mahkota, jusco cheras selatan (both of less that 5 kilometers away), mines, one south, and many more all also no tenant/shops open one go and see.. i still havent include the shopping malls inside Kl.. haizz where got good economy survey oversupply mannn

Just a few months back u were salivating too bro

There is a 222 residency condo went on auction before vp, that particular flipper must be really "tam kai" with DIBS also cannot hold..sigh

Anyone know what happened if auction also no taker ? would the bank sue owner or shall I say loan defaulter for bankruptcy, which bank can obtained loan defaulter other properties to cover their losses.

If indeed properties price coming down/ stagnation/demand slows down, surely bank would accelerates auction process.

I know owner only getting key on November or December but I saw it on Auction list already,  anyway I am not interest that particular condo.

I know u have some unsold unit & dead worry price will tumble, no need to white washing the present senario. .lol

http://www.propwall.my/classifieds/1626362...y%3DCondominium

http://www.iproperty.com.my/propertylistin...ominium-forrent

U tell me what is this ?

Ur damage control don't work lah ! 

By the time it crash I will be busy collecting sardines fish like in Lahat Datu..lol

No need to curse I die of heart attack just because I have different view point from you. .sigh