Snap out of it, me no Rooney, me no like soccer.

http://www.telegraph.co.uk/finance/china-b...wn-economy.html


China's authorities are becoming increasingly nervous as the country’s property market flirts with full-blown bust, threatening to set off a sharp economic slowdown and a worrying erosion of tax revenues.


New housing starts fell by 15pc in April from a year earlier, with effects rippling through the steel and cement industries. The growth of industrial production slipped yet again to 8.7pc and has been almost flat in recent months. Land sales fell by 20pc, eating into government income. The Chinese state depends on land sales and property taxes to fund 39pc of total revenues.


“We really think this year is a tipping point for the industry,” Wang Yan, from Hong Kong brokers CLSA, told Caixin magazine. “From 2013 to 2020, we expect the sales volume of the country’s property market to shrink by 36pc. They can keep on building but no one will buy.”


The Chinese central bank has ordered 15 commercial banks to boost loans to first-time buyers and “expedite the approval and disbursement of mortgage loans”, the latest sign that it is backing away from monetary tightening.


The authorities are now in an analogous position to Western central banks following years of stimulus: reliant on an asset boom to keep growth going. Each attempt to rein in China’s $25 trillion credit bubble seems to trigger wider tremors, and soon has to be reversed.

pretty much damage has been done...

the sales in new launches is faster than subsales.. this is not good right?

new launches can finish within a day.. but subsales? take months or even year.. new launches you have bought(if investing and not own stay) will then wait for subsales when VP is hand over.. the rate of transactions has fallen down... subsales cant pick up with new launches.. long run it wont be healthy..

and new launches are more often preferred than subsales.. even both subsales prices and new launches prices are similar say 700k.. new launches prices will definitely up upon VP.. subsales property even up (if any or stagnant) will be in disadvantages position..

more and more new launches are in weekly in klang valley itself.. if subsales rates do not catch up.. (banks are rejecting loans, not up to valuation, no 2 generation loan and etc implemented) subsales will slow down and more will preferred new launches... more more investors ending holding property (if the can) and high price (if they want) but no buyers..

so then, with this situation, end up renting game around.. but renting game has more often than not depressing than ever.. low rentals, bad rentals, tenant who spoil property, tenant who alwayls though of buying new launches.. and etc...

with less transaction in subsales market, renting game goes on, and as rental games increases, credit of investors also locked together, with that new launches will have less and less competitors..

^ new launch no competitor = good for those richfag flipper ma not mer? me want own one unit also like jialat. credit card also cannot approve. see how low my income is.

This post has been edited by andrewcha: May 14 2014, 06:54 PM

i am merely curtailing properties according to your budget i.e 2k, property below 200k is doable, i think as for \family purpose minimum 700sq above with 3 rooms and 2 baths will be a good start, new launches might need to find far far, the closet i can see is saville@kajang within KV, old apartments if you dont mind..

LMRQ is in sememyih, sememyih town with Setia echo hill view.. the installments is around 800 monthly with maintenance of 200, but the size is too small and distance is to far.. i suggest that you drop new launches idea..

try old apartments in kv areas... a bad area but price up to standard.. venice hills but many negros..

wah sai you government sector or private? normally gov sector very easy on credit card.. and housing loans you have Perbendeharaan Negara.. lowest interest rates.. you actually qualify for low cost.. try register one i think can get.. or you try approach PPR flats can get cheap too..

no worries lah credit cards... no need use one...

This post has been edited by bearbearwong: May 14 2014, 06:49 PM

me work part time here and there lo. no proper documentation. really sad life for me.

no good, work part time no EPF, income tax lor.. first hurdle also hard to pass the bank approving loans sure very low in chance..

try switch jobs or accumulate money as much as possible, but hardly the case.. collecting few hundred k's long time...

Bear2 u don't pusing the fellow lah. ..later he depression. .lol

Best way is combined income to buy subsales 200+K apartment, new launch forget about it as us selling at 3-4 years future price.

Other solution get PKNS or PR1MA, but need to MMT lah, latest news govt will sponsored 30K for low income group to buy low cost house, so hurry up apply before ur income increase & no more qualified. ..hehe

confirm liao a the 30k? Even I also didn't go apply for br1m also. Went before one pr1ma launch but at seremban there. In the end I gave up the unit as I know my documentation not enough even though I bring in the deposit. Haih

haiihh ya lar.. sure he can get one, new launches really cannot.. unless his eaning doc can pass 350k then can buy saville lor..

ya lor that price is 3 years back then... now investors price.. hard..

Why sub sales must or need to be better than new launches??
And all your other logic really................

no lar.. didnt meant subsales need to be better than new launches, just dat if ppl keep buying properties while subsales transaction drops and cant sell off, there will be a lot of properties..

Go look for a good banker advise u what to do.......
U can start doing your proper documentation with your part time income too.......
U'll get more worrying and confusing by listening those who haven't or never done it before......

Can sell or more transaction means less prop in market???!!!
The prop will vanish after transaction??
Can't sell or don't want to sell...... The market direction will be heading towards rental market for those prime prop..... Not surprising transaction low as prime prop most ppl prefer to hold.....
Rental rate may be low at the start...... But in longer run it will still go up...... After all prop investment is a long term game........

This post has been edited by AppreciativeMan: May 14 2014, 07:39 PM

Exactly. maybe I be the first one that do part time liddat try own one property lo.

bearbear buy this


Attached thumbnail(s)

wow 311 k and above good buy.. launched di? name? consider

Sure or not.....
From 311k for 558sf = 557psf oh......
900sf unit will be probably nearing 500k oh.....

U r definitely not the only one..... Jus tat u havnt get to kno one....
Part time income u can do it to become part of your income source..... Go speak to more bankers......

when i owned liao one will share with you guys. thanks for the pointers and guidance