QUOTE(Babizz @ Jul 25 2014, 06:40 PM)
Thanks for the update. Iskandar would have been great if not for the chinese developers and the flip flop policies.
I personally cant wait to see d final product of d condos down there (other than tropez)
Hi to all,
Just joined LowYat today for discussion on this thread and for property news in Malaysia...
I am a Singaporean and I bought 2-BR R&F Princess Cove during last week initial launch..
Reasons why I bought it despite the pricey price tag:
1) Exit Strategy from SG..
>> Supposed that when I get retrenched or in my 50s when my CPF is forced in Retirement Account or some f***ed up annuity scheme, I can have the option to rent out my HDB flag and retire in JB
2) Proximity to SG
>> Walking distance to CIQ.. I don't drive and so I need a property reachable by public transport.. Whether RTS will be build or not is no longer a concern because there is hardly any land parcel near CIQ anymore at 1000 psf.. Also, supposed i retire in JB in future, my kids will be able to visit me easily without having to drive far into JB... Help can also reach me faster with closer proximity to SG..
3) Freehold
>> I can be assured that value is protected unlike leasehold which depreciates with ages
4) Shopping centre nearby
>> Near to City Sq Mall with cinema.. Shopping below condo residences... Basically, amenities...
5) Landed VS Condo
>> I am middle age and I am lazy to do housework... Bigger space means more housework.. Amenities matters more to me than space...
Risks:
1) Foreign Exchange Risks
>> Obviously, if RM continues to depreciates, this could be a poor investment
2) Interest Rate
>> Malaysia Bank Loans I/R is in the range of 4.6% currently which is very high as compared to SG Housing Loans...
3) Poor Rentals and OverSupply of Condos
>> In my opinion, Iskandar is overhyped.. and there's oversupply issue... This will depress rental yield and also if I need to sell this, I have to find another person willing to pay for it... This person will most likely be a foreigner...
4) Iskandar JB CBD development
>> Since the Sultan already said that this is a LANDMARK project, I truly hope so... R&F is a reputable company... This project is at the gateway into JB.. Landmark project ... 5-star hotel and Grade A office towers... If all these comes to fruition, i believe R&F Princess Cove will be a gem in future... However, all these comes down to bilateral relationships between SG and MY... The VEP fiasco highlighted the poor communication between 2 countries... If MY federal govt prevent land reclamation of R&F Princess Cove to go ahead... Then there will be no grade A office tower and no 5-star hotels and basically this project will become just a mere condo near CIQ with a shopping mall....Hopefully, this project will succeed because the failure of this project will dampen investors' sentiments.. project a poor image of Malaysia to China investors... as well as Singaporean investors ...
Here you go, this is my opinion as a Singaporean who bought a unit...
I hope to learn more about Malaysia Developments and R&F Princess Cove Developments via this forum..
Happy Holidays !!!