Wasnt this always the case? As far as i know, there are about 7 criteria that is used to evaluate a potential applicant which directly influences the loan approval.

Actually banks started getting stringent with loan approvals in early 2013 already which was the first indication that all was not well.

I agree to this 100%. I had the distinct 'privilege' of re-visiting the heart of KL for the New Year's Eve Countdown. Changkat was quite all right. But imagine my horror when our group took a walk to Beach Club, Rum Jungle and Modestos. We were completely outnumbered by the waves of Asian foreigners e.g Banglas, Nepalese, Pakistani, etc and mind you these are the working class ppl. The music that the new Beach Club was churning out was something that sounded Arabic. Nothing in English. Same with Modestos and Rum Jungle.

This is probably the last time im ever gonna consider the heart of KL for clubbing. So yes the standard of entertainment in KL has surely dropped to its lowest standards. The influx of foreign labor was really shocking. Even at Monorail stations and along the major roads, Malaysians were virtually outnumbered 10-1.

What has become of our country!

Its also quite shocking to note the number of price increases across board this year from food to parking to clothes, etc. I think its complete bollocks for Bank Negara to say that inflation is only 3%.

Yes for this:

http://www.btimes.com.my/Current_News/BTIM.../#ixzz2pnbL23eT

Yes i think 2015 would provide a clear indication of what is to come. But we will see the signs before the end of this year especially with the new property launches. Another indication would be the increase of the BLR rates and the new BLR framework announcement by Bank Negara which is supposed to be in Q1. Already we are seeing numerous businesses raising prices from food to parking rates and many of these increases are quite big up to 30%.

Im expecting the BLR to go up by at least 25 basis points this year up to a max 50 basis points (depending on how heated the property market becomes). But i think the first hike of 25 basis points would work in cooling down the property market somewhat which would negate the need for a 2nd hike.

How do we get this topic pinned as IMPORTANT? I think it will be a good reference until 2015.

2 questions:

1) How good is your financial standing?
2) Is the 80% of property price based on after discount price?

What condo is this? Easier to provide answers if we know which condo specifically

This is new. 3 questions:

1) What is the loan amount?
2) What are the 3 banks?
3) What is the name of the condo?

Developers will always raise prices of new launches because they arent subjected to valuations. The problem is in the secondary market and those who bought thinking they can flip easily upon VP

What is the name of the condo which u want to purchase?

I dont expect any drop actually. Worse case scenario would be a stagnation. Dont expect any huge drops. That wont happen and Bank Negara wont allow it to happen.

Damn these mamak restaurants!

http://www.thestar.com.my/News/Nation/2014...-going-up-soon/

So based on this, whats your analysis of where we're at and what lies in future for the property sector?

A slight diversion to compare taxation in Germany vs Malaysia:

If u earn E$60,000 per annum (5K per month) in Germany, the total amount of tax you need to pay is E$ 14,650 or 24%. This includes the following taxes:

1) Income tax
2) Solidarity tax (to help rebuild East Germany)

If u earn >E$52,000 per year, your company must pay 50% your monthly private medical insurance premium up to a max of E$ 315 per month. You pay the balance.

So if ure earning E$5,000 per month, the net salary u will receive after all tax, health insurance and pension fund deductions will be E$ 3,330.

If u compare with a Malaysian earning RM5K per month, your net salary you receive(after deductions) will be RM4,243 per month. But from this amount, you need to pay RM 600 per month for health insurance (to get the same coverage as a German). So after this deduction, you get RM 3,640 in your pocket.

So if you take into account salary comparisons with taxes, yes Germans will pay more. But for a difference of 310 per month (take currency conversion out of the picture since ure not a tourist), Germans get:

1) Cars priced about 50% cheaper with more efficient engines
2) Higher grade petrol at 30% cheaper
3) Toll free highways
4) World class education system
5) Higher levels of personal safety
6) Better quality of life in general
7) Higher purchasing power

So tell me, are all those stories that the Malaysian Gov told us all these years about our supposedly lower cost of living, really true?

Do u know the meaning of 'purchasing power'? Let me give u a tiny example (which doesnt mean a generalisation of course but just for info). You can get a really good roast beef sandwich at Tesco Express, London for just 99 pence. You can also get a kilo of oranges in Frankfurt for E$2.50 and a kilo of potatoes for E$ 1.50. MInd you Frankfurt was the most (if not among) the most expensive cities in Germany.

What can you get for that price in Malaysia?

This post has been edited by cybermaster98: Jan 13 2014, 05:48 PM

Any website that uses a currency conversion to compare cost of living is CRAP because ure not comparing prices as a one time tourist. Ure comparing cost of living as an individual living there.