what property development is that? pls reply bro

Savanna Executive Suites, Southville City @ KL South
by Mah Sing

over supply on an undeveloped land...

nice info. how do you get these info? r u lelong agent?

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.

As for Malaysian households, 685,000 in Malaysia earn more than US$100,000, while 47,000 households earn more than US$1 million.

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

Malaysia has fewer high net worth individuals than most thought. many people feel or appear rich from debts, which is consistent with elevated level of household debts.

This post has been edited by icemanfx: Jan 16 2019, 05:54 PM

I believe he is. Check the threads that he started, he lists these lelong units. If you are interested can always get in touch with him, he'd be happy to facilitate your purchases.

In relation to housing affordability, I think household income is more relevant a number than personal earnings.

Nonetheless, I have a conversation with a friend who just came back from Japan, saying that it is possible to to purchase a relatively new house (actual house) in Nerima, Tokyo for a little more than a million of our currency, it is even possible to purchase one without carport for a little more than 500k in Adachi, outskirts of Tokyo.
This is for OECD country with high income and development, and we have properties in PJ (considered outskirts of the city), Shah Alam and even Serdang asking for millions of ringgit.

Given only 3 sold out of 15 of the lelong units, there wasn't much demand at this price level even.

Rather than individuals, I am more worried about how much banks and credit suppliers can recoup.
How many banks is actually underwater at this moment?
Can they actually be bailed?
Would there be blood on this street when the eventual failure arrives?

when banks stop lending, its a sign that avg. median income cannot cope with the % ltv

I just secure a loan and it can only approve with 70% regardless if im going to show them my bond, my fd, my stocks etc...

of course 90% is possible but subjective to bank risk because property for them, is like, over valued for now 70% because, to include lelong % ahahha

Developer unit or subsale?
Hoe many props u own

when eco started with easy own scheme of buyer just need 10% when dev themselves loaning out 20%, I think, the rational of market is the same regardless. my pov

wah need to pay toll to go in n come out ar for that mah sing place?

This post has been edited by kevyon6: Jan 17 2019, 09:50 AM

There is a jalan dalam. but it is not too well-maintained. More like a jalan kampung. Those are your only choices.

Local banks limit their exposure on housing loan to about 25% of overall portfolio. if there is a massive default, these toxic loan will likely move off balance sheet to a spv organized by gomen/bnm. however, ltv will likely capped to forced sale value.

What was the original price? around 400-500k?

If housing loan 25%, others loan to developers, some even develop themselves such as Hong Leong and RHB via OSK, not to mention REITs.
In total, how many % of real exposure?
It is scary when you think about it.

wild_card_my
bank muamalat also increased the BR by 0.11% following CIMB setting the initial bar by 0.1%.

Any news that other banks may be following this trend?

Expect the worst.

Lol mah sing sucks anyway.

BIMB increased 0.1% following CIMB, HLBB increased by 0.1% recently on 10th of January

Thanks fot the update.
BIMB actually increased by 0.13%

Hearsay PBB and Affin will announce the rate hike soon.