10% drop next. But doubt will have no bidder.

10% off 500k (1st auction reserve price).
Suppose to be 450k next as my initial post above.

Group member predicted maybe the bank wanna achieve target... So 15% off instead of 10% off from previous.


Here is the second lowest price of the entire EKC project during launching time and it is the Blk E studio.
https://forum.lowyat.net/topic/3021334/+1812


Anyway, if the reserved price of the auction unit (762sf) is RM425k, then from price tag point of view, RM425k is now the second lowest (if not the lowest) ...

So to investors out there, you got my info now..

This post has been edited by Jagalat: Dec 5 2019, 06:31 PM

Studio = dead?

based on published info, not a single subsale transaction for the residential unit? So the reserve price of RM425k may not be reflective of the current market value?

This post has been edited by tonytyk: Dec 5 2019, 09:44 PM

Auction price does not reflect on market price.

You need a lot of transacted auctions for bank to evalue the market price.

There are 1000 over units there....how many lelong units now?

Auction price is probably the most transparent and closest to current market/exchange price.

Valuers depends on data from napic. However, some prudent valuers put 2 value (average of recently transacted and forced sell) in their reports. Which value to use for ltv depends on bank.

U.s. subprime crisis showerd; it doesn't need that many units npl to shake the bank or market.

This post has been edited by icemanfx: Dec 6 2019, 04:19 AM

300k can sapu one

Then everyone need wait wait wait for 3 more round at least

First few auction units tend to sell marginal cheaper or even higher than m.v.

Given many bought to flip or rent, more auction could be expected.

Pretty sure there'll be bidders at this price.

As this is the first unit in lelong market, there may be some newbie or inexperienced buyer that will bid at this price

Those that do their homework will know that there are many more that will enter the lelong market in the near future and the value of this property in lelong market is approx $350K

if this property is 'lelong value' at 350k, then good luck to the rest of popety along this stretch of cheras all the way to batu 11.

https://www.edgeprop.my/rent/kuala-lumpur/c...86106&stations=

Based on asking rental and reasonable yield, RM400-500 psf is about fair market price.

This post has been edited by icemanfx: Dec 8 2019, 05:30 PM

Estimate property value based on asking rental? Maybe only can find in auction, and bid back to high price during bidding

Rental is more elastic than property price, is a leading indicator of property price.

This post has been edited by icemanfx: Dec 8 2019, 07:05 PM

since when you become property buy sell rent sifu?????

I thought all your promotion on property is about doom days ahead, avoid property like a plague?

now you want to chip in your 2sen worth?

Not at all, just share what I learned in class on price theory. How do you value a property? Whim and fancy, gut feeling?

If landlord ask rental based on yield. Buyer could similarly expect price based on actual rental yield.

This post has been edited by icemanfx: Dec 9 2019, 10:29 PM

full of theory full of crap.

if expert is accurate in their valuation, there wont be any property in auction or sold below market price

Whre is ur bff wilchee.

The irony is those overstretched and bought over priced property believe they were the expert and gold fingers, could defy the law of supply and demand and gravity.

From planning, approval, construction to vp of condo could take over 5 years. Overhang didn't appear suddenly or from no where, and the law of supply and demand is well known and long established.

In economics, price could distort/defy/manipulate/etc in the short term. However, long term economic equilibrium always prevail.

As rent is more elastic, response to market demand and supply faster, is a leading indicator of property price.

This post has been edited by icemanfx: Dec 10 2019, 03:46 AM