Wanna ask sifus in here.. What do you good folks think of Eco Grandeur or Puncak Alam for own stay.. 5 - 10 years outlook.. In terms of capital appreciation, surrounding developments, etc. Basically, is it for ppl live one? Buy now or wait a couple years for future launches and hopefully size bigger but price lower..? Thanks.

This post has been edited by voncrane: Oct 11 2018, 07:29 AM

KAJANG: The slow property market has led to the increase in residential overhang numbers which as of 1H2018 totals 29,227 units worth RM17.24 billion. This was an increase of 18.1% in volume and 10.2% in terms of value from last year (2017).

According to the Preliminary Property Market Brief 2018 for the first half of the year, launched by the Valuation and Property Services Department (JPPH) under the Finance Ministry yesterday, many of the overhang units are properties priced from RM500,000 to RM1 million — with a total of 7,525 units valued at RM5.17 billion.

In terms of transactions, the overall property market recorded a marginal decline in the first half of 2018 (1H2018) with 149,889 transactions worth RM67.74 billion, a decrease of 2.4% and 0.1% respectively, from 1H2017 which recorded 153,526 transactions worth RM67.83 billion.

https://www.edgeprop.my/content/1433371/uns...mes-record-high

The above unsold numbers are for primary market, secondary i.e subsale number is believe to be over 3 times of primary.

Property market is on 10th. consecutive quarters of decline.

This post has been edited by icemanfx: Oct 13 2018, 12:13 AM

how many months payment missed before bank start to issue lawyer letter/lelong ur unit.

For those eyeing for "virgin" dead chicken.


This post has been edited by icemanfx: Oct 20 2018, 11:24 AM

46,702 UHNW and HNW individuals collectively only amount to 0.2 per cent (not even the proverbial 1 per cent) of the 21.372 million adults in Malaysia.

The remaining 99.8 per cent Malaysian adults have a wealth that either touches or falls below US$1 million (RM4.16 million), with the bulk or 60.6 per cent with wealth below US$10,000, while 36.2 per cent have wealth of US$10,000-US$100,000, and three per cent at the higher wealth range of US$100,000-US$1 million.

Malaysia also has a relatively high Gini index value of 82 per cent based on the wealth distribution patterns among Malaysian adults, which suggests high wealth inequality.

https://www.malaymail.com/s/1685061/malaysi...-whos-wealthier

Malaysians are not as rich as most thought.

This post has been edited by icemanfx: Oct 21 2018, 12:45 PM

ABOUT two weeks ago, a group of about 80 property club members saw licensed auctioneer Warrick Singh.

They were seeking solutions as to what they can do with their property purchases which they took vacant possession a few years ago.

Aged between 28 and 42, most of them have two or three property units purchased in 2011 and they were given possession of the property in 2014 or 2015.Many of them, according to Warrick, have never heard about the property cycle or property clock.

“They bought the properties based on what they were taught about the good debt versus bad debt principle, that buying properties is a good debt,” says Warrick.

They are disgruntled now because they are unable to rent out the units to meet the monthly mortgage payments and they do not want to sell at a loss, although some have done so. They are also unhappy they have to pay for the monthly management charges and sinking fund.

Warrick says their gross salaries were “between RM5,000 and RM10,000 or dual income”.

“They were seeking a solution but I had no solution.
.....

Warrick believes we are currently at 7 o’clock (of the property cycle clock), while the Institute for Democracy and Economic Affairs (Ideas) senior fellow and economist Dr Carmelo Ferlito is of the view we are currently between 3 and 6 o’ clock.

Not surprised by the rising overhang, he says: “Prices will probably start to go down a little but we cannot hope for all these overhang units to be absorbed in the short term.”

He is of the view that a property crisis is approaching. The situation will be more critical at the beginning of next year, he says.
.....

According to the National Property Information Centre’s (Napic) Property Overhang Report for the second quarter 2018, Malaysia has an overhang of 29,227 units, valued at RM17.24bil as at June 30, 2018.

The above overhang figures exclude serviced apartments and small offices home offices (SoHos), which are built on commercial titled land. If this segment is included, the overhang volume and value would rise considerably.

Napic defines an overhang as unsold units nine months after completion. Valuation & Property Services department director general Nordin Daharom says the rising number of overhang units is one of two pertinent issues – the other being the commercial space vacancy, both retail and office space.

Read more at https://www.thestar.com.my/business/busines...33sGzVPwezP4.99

This post has been edited by icemanfx: Oct 21 2018, 02:17 PM

I believe the article GROSSLY UNDERESTIMATES the number of UHNW and HNW individuals in Malaysia. Does the estimated net worth include those individuals with properties overseas eg Australia, US, Canada, UK etc etc ? The KV, not to mention Penang as well other states have very expensive properties owned by individuals who have long since paid off their mortgages. I would humbly suggest the number of HWN individuals would be conservatively TRIPLE the number stated in the article.

Credit Suisse primary business is in investment banking and private banking, know about UHNW and HNW include hidden wealth better most people. this is not the first time/year they compiled the wealth report; number of ihnw and uhnwi in this country has been fairly consistent in the last few years. c.s has office in singapore and their rm travel to malaysia regularly and probably are in touch with most uhnwi already.

property value and net worth are different matters. high gini index and high household debt attributed to lower than expected number of hnwi.

The price is right... I wish I am available during the auction.. Might try to bid...

Good luck!

where do you all find the list of these auction houses? im looking for one especially those new developments where the buyers can fullfill the loan

If price and rental could drop in land scarce Hong Kong, it could occur in kv, where land is abundance.

https://www.edgeprop.my/content/1438343/wan...eople-own-homes

These numbers exclude commercial title like service apartments, soho, subsale market, etc.


This post has been edited by icemanfx: Oct 28 2018, 11:49 AM

can loan to buy auction unit?
what are the expected upfront costs for buying auction units? or has to be total price + costs? what about the other parties (bank's people) who try to inflate the transacted price during the auction?

wait, how? all these while the borrower has been servicing the loan. at some point, he failed. bank exercises force-sell.
now there are 3 scenarios...or more? correct me if wrong
- sell at market value. bank earns the $ previously paid by borrower, plus the wholesome of the market value $. handsome profit.
- sell below market value - can cover principal outstanding, bank breakeven with normal profit on interest.
- sell below below market value - cannot cover principal outstanding, bank still chase borrower to pay even though he already lost the house???
cannot sell at all then how?