By then bubble already pop.
But one thing I'm sure of is that banker with strong connection to rich ppl and vice versa buy up the properties under water even before it was auction off. And these props are usually good location and rental. Props auction off are the ones that rejected by these rich dudes.

Understandable bcoz long auction list doesn't look good for the banks.

So isn't that a bad scenario?
Sub-sales cannot sell but new launch can?
So question is; these buyers for developers, are they really home stayers or investors/flippers?
General knowledge (not universal though) is that there's price appreciation from new launches bcoz it's like buying from wholeseller or direct from factory. Moreso, loan approval is easier compare to subsale because influence from developer on valuer and banks.

Not ncessarily.
May property portfolio for these rich guys are FULL.
You don't expect them to put 100% of the wealth in property right?

The ultra rich guys are of different league compare to most of us. They can buy cash and hold it for years.
They also have the bargaining power on the terms and conditions and prices too.
They take up 10 properties at once for price way, way cheaper than market price. And for only one reason ... these ultra rich are businessmen/women. Their REAL asset is their business. Properties are just to "park" their cash for hedging against inflation or tax. If their businsss go down the hole, they may need to liquidate their properties to pay off or collateralize their properties for cash.

Bankers are not property manager, they are money managers. They prefer cash (or equivalent) to balance their balance sheet.

At "injury" time, the overleveraged will suffer the most. Businessmen (not all) have higher chances to survive.
Look at Tan Sri William Cheng ... owed Rm2 billion since 1997 ... still living the luxury life.

This post has been edited by HuiChyr: Jun 16 2014, 01:05 PM

Yup .. this thread has gone down the drain.

Nice ...

Being a property investor, you want to limit your market to local Malaysians?
Foreigners are willing to pay more due to exchange rate and they are the ones that help in price appreciation.
In this new globalized world, most countries are open to foreign ownership.

Where do you think the property boom in Malaysia ...well bascially worldwide came from?
It was from open market to foreign ownership. I would say they are mainly flippers.
When you enjoy price appreaciation in your prop from foreign ownership ... were you complaining?
C'mon ... be fair.

The difference is China developers take up the loan to built; "Built first, then sell". In Malaysia; "Sell first, then Build".

In Malaysia, the risk go direct towards home owners. You lose more than just downpayment.

Developers are the one doing road shows and launches overseas to lure foreigners.
If there are no takers/buyer during launch by foreigners, do you think the development could have been a success/completion (VP)?

Not everything relies on what you need or don need.... or even your investment objectives. Others profit from it and continue to be so. ....

Not surprising. Developer owes contractor Rm2mill ... can only afford to pay Rm400K only.
If this is the case, contractors may abandon project.
By the way, anybody wanna buy expensive/branded ladies watches... PM me.
The contractor gonna give me his wife's watches as payment for the stuff he took from me....

Not possible lor ...
These bloody contractors ...when got money, spend like crazy.
Now in deep shit also must maintain face ... said for business sake ... L@nc!ao la ....
That fella still driving his merz ... KNN lim peh only drive a Wira nia ....

Question him why not give me HIS watches instead of wife's ... said must maintain muka when see clients wor..
Hutang keliling pingang these b@stards.

To me it no coincidence Sunrise sold to UEM or Tan Sri Liew Kee Sin cash out from their companies. They know bad times is coming.

I tell you ... when u are collecting debt ... u get lotsa excuses ... same family member can die 5 times one....
I stop supplying to contractors for development abt 2 years ago.
Now got a few still owe my company money ... Most pay off slowly by installment ... at least with money la ....
This one the most sia soi .... give me wife's watches....

I believe this scenario is getting worse by the month.

Sounds pretty good. May need your service. Will definitely PM u.
However, I get what I can first. Try my way.

You have to understand. We spend time and money to build relationship for business.
If everytime shit hits the fan, I get repo service .... very susah to do business ler...
These ppl although hutang us, still give us future business. They owe by project basis so still ok.

This is the reality I'm facing.... u don believe, then go all in lor....
Be the Sailang lor ......
Get it? SAI LANG? hahahaha.....

What I'm saying is from events that ALREADY happened, you try to figure it out yourselves.
Sunrise and SP SEtia cash out .... and the next event is SP Setia profit dropped 21.2% and Sunrise is not doing too well.
A lot of ex-Sunrise development move their management to 3rd party management as rental falls in MKiara area.

I don't put these business figures on a pedastal but I am sure they know the behind scene situation before it hit the newspapers. So I anticipate the market via their decisions.

Moreso from my line of business, I evaluate the events that took place. Not ALL contractors are in bad shape but the stories of bad/slow payments getting frequent, you sorta get the feel of the market.

"CAra halus" frm Bear2 ... hahaha ... I almost thought using bomoh services ...
Then I read his post again .... maybe he meant ...more diplomatic la...

Bro, like this la .... you interested to invest or for own-stay?
If for own stay, look at your finances and if you can afford it ... proceed.
Anyway, if truly market is down or bubble pops, your business will be booming ... U r a repoman after all.
Can pay off loan fast fast ma ..... with your profit or big bonus.

IF for invest and hoping for rental or market appreciation ... not so good market lor.

For sure la .... how you think ppl like Tan Sri (watever his name) from Sunrise can be a billionaire even after become a bankrupcy.

Oh ... I learn new thing today .... THX bro ....