What fundamentals did I miss? Supply and demand? I thought I've already clarified that the current oversupply is due to people not willing to buy at current prices. But if property prices in kv drop by 20% then the demand would meet the supply. This is based on the take up of pr1ma properties in kv where the prima properties which are around 400k are swept up by people. Since currently there are many kv properties which are priced around 500k, a 20% drop would bring it to pretty much the same price tag as those pr1ma properties. People would start buying by then.

I've also mentioned that 2011 to 2014 was a super bull for the property sector, by 2020 I'm predicting it to be back to bullish, meaning prices would go up. Even slow climb is still a climb, even if the climb mirrors the inflation rate, you still end up paying more than buying during bottom.

What huge incoming supply of affordable properties are you talking about pr1ma? Rumahwip? If you really observe the launching prices of these properties, you will notice that it's not exactly much cheaper than other similar type of properties in the same area. Usually only 20-30% lower than the prices of other similar properties with the same size and location. So when the bottom comes next year or in 2019, when the other normal properties with no restrictions such as pr1ma and rumahwip drops by 20% and becomes almost the same price, it's pretty much a no brainer that people would buy the one without restrictions.

Next year or 2019, latest also 2020

The margins for developers are damn high wut. Even with 20% discount still profit

Ayam waiting la, for now ayam just hunting for dead chicken because there are some which started to pop up from time to time, but still not going bbb mode yet. Will monitor prices next year then decide when to on bbb switch.

For now only snap up if super good deal.

Kajang and bangi properties have always been around that price la. Just because some developers tried to goreng and sell bangi as what south kl or kl south whatever nonsense and price their condos at 400-500k and landed at 600k onwards doesn't mean the whole bangi and kajang is priced around that, you can also get landed at those areas from 400k in the subsale market la. You're pretty much only looking at the market from properties which were developed around 2014-2016 and put your market price based on that right? 😂

Anyways, its just a couple more years. Let's just see when the time comes.

In everything in life you have the trend setters and the herd who follows a trend after it has boomed. The rich mostly started the trend then those so so people with their herd mentality followed and overstretched their loans to invest in property during peak pricing. The herd usually outnumber the trend setters. Hence, this is what will cause property prices to drop.

You should never aim to buy from the rich, but buy from those who are poor and desperate for money. The rich dont mind holding 10years or more to get the price that they want, but the overstretched herd can't afford to do that. With the increasing number of properties being auctioned lately, it just shows that quite a number of these unoccupied unrented units are held by the herd as opposed to rich people.

Btw, those truly rich people got so many better options to invest their money aside from property la. The whole idea that majority of unoccupied properties are being held by the rich is pretty baseless actually.

Still rich people got so much more investment options with higher roi than buying land.

People who are really rich usually take risks and they also diversify their investment so they're not afraid to invest for higher roi.

Only those midde class and upper middle class wannabe rich people so scared of risk and invest heavily in property because it's safe. These are people who have certain amount of money to invest but cannot risk losing the money. A lot are working professionals who are in their 40s onward. Not exactly rich people.

Big companies different game altogether, they can bribe govt to sell them cheap leasehold land and the develop the land and profit like 300% in like 5 years. Single unit investors will never get such high roi in such a short time from properties. Completely different playing field

Exactly my point, the whole assumption that rich people are holding the unoccupied properties are baseless. Many are just normal working adults who are usually in mid or senior management, earning 100k above per annum trying to make their riches through properties instead of the rich trying to get richer through properties.

As per bolded I think ur talking about whole different playing field here. Although the thread is titled property bubble, it's actually talking more specifically on the housing bubble in kv. You are right that the bolded type of property usually owned by rich people and they will hold until they get their selling price.

However, what people has been complaining about all these while is the prices for residential properties and the majority of people are self aware that they're not aiming for big houses. Landed houses for example, most working class are practical enough to target those with land within 2000 sq feet and even more are just targeting condos/apt within kv. So pretty much different segment/type of properties held by the rich. Hence, even more reason to support the notion that most of the unoccupied residential properties around are being held by overstretched buyers instead of rich people with holding power. That is why these residential property prices will drop with the current softer market.

Yep condo price dropping, ayam hope next week ayam can get this freehold condo in bb 1200++ sq feet for less than 600k, hopefully not many ppl go for the auction 😊

I never buy cash from auction so far...plus my limit for the unit is 600k, so just gonna bring 60k bank draft. Even if I wanted to I don't have 600k cash.

120 days is more than enough time to secure all the approvals and loan disbursement to get the prop la. Especially since this is a freehold prop.

You just need to take leave and get your ass moving to chase for the relevant approvals and documents. Most of the time within 90 days settle. Unless you're the type who just throw to lawyer and expect them do everything for you without you chasing then gg la. But I guess my lawyer so far been good, she kena harass by me kao kao before d so now when I buy prop from auction, she will work on it on high priority to avoid me bugging her. Lol.

It's all about hounding people bro. If ur lawyer say developer approval delay then you just need to go to developer office and hound them. They do it fast if you hound them enough.

BB area, bukit bintang

Yea, but I kinda changed my mind last minute. Found out from a friend who lives there that the condo lately got water leaking issues and management is crap lately. Heck, dodged a bullet there.

Kek, no one said the drop means property reset to 10 years ago prices. Check back the price last 2 years for the same terrace house it would be around 600k, now 500k is 20+% drop from last year, berapa banyak drop lagi u mau?

New one same area and same size or not first? Most of the new affordable properties are at shit locations la. For example subang area those houses selling 700-800k last few years, this year can get around 600k. New property in subang is at subang pinggiran which is almost at Shah Alam d. You'd rather take the new subang pinggiran instead of 10+ years subsale??

Jb probably you get this kinda deals la but in kv dun have one la. If me also can get new unit same area same price, I'd take new le.

In all fairness, many experienced bbb uuu knows the market well and before the market went on a downtrend they would have let go of some of their units and made sure they are not overstretched.

Only those noob investors who believe the uuu bbb hypers too much end up overstretched and property kena lelong.

All the auctions are from banks, but they will get auctioneers to auction for them. Since you noob just go through agent la, the auction agents takes their cut from the bank anyways.

Dude, you think still 2015 ah? My partly furnished unit also I rent out 1.5k only and now more and more people offering lower price. You lucky you found waterfish

Agreed. Rumahwip and prima is not cheap at all

You go check sendiri la at mudah the price nowadays. You guys just lucky you rented out during the peak and your tenants didn’t bother find new unit.

See yourself la how many fully furnished below 2k

https://m.mudah.my/list?q=Midfields+2&ca=9_...gories&so=1&f=a