When 9 to 5 also jobless

The market will collapse in any soon.

Price quoted unrealistic.

Why not? 1st condo I bought at 200k in 2003 I sold it for 470k in 2010, 2nd property at 420k in 2010 and market value now 720k

Property price didn't double from 1999 to 2003. Asking price 720k is unlikely transacted price.

name your 2nd property. i wanna survey auction market

What's ur 2nd property? I want to check the market value.

Setia Alam 20x70

My friend struggled to offload his simedarby bukit raja (which is practically setia alam) 20x70 even 2 years back below 700k.

Agents in your area must be good to be able to get buyer at 720k.

Bbbbb

I was offered 720k and another for 725k. I’ve spend 120k renoworks.

Yes B.Raja is near Setia Alam but different developer. Most people prefer Setia Alam as its nearer to toll and the mall. Recently just a month plus ago SP Setia sold out their Artoca 18x65 on launch day at >500k and its way deeper inside quite near to the crematorium

This post has been edited by kkkw80: Jul 6 2019, 10:52 PM

i prefer denai alam, but abeit a bit more expensive. but sime darby is no play play.

Pls predict price for 2029!

Sell bra and underwear also cannot afford price 😂

nothing go up forever.

Under construction , yet still think of buy new one

Means prop investment is for those with big capital only

No big capital don't play property, coz if difficult sell have to have holding power

auction market got active 2 units 540k and 1 unit 474k

The 474k house.
Land area" 20" X 70".
Nearby Setia City Mall.
4th round re-auction. 1st round at 650k.
Title issued and perfected.

This post has been edited by AskarPerang: Jul 7 2019, 01:41 PM

launch prices starting from RM813,000.

Auction unit details:-
Unit No. A-22-10, EcoSky Residence, No. 972, Batu 6 ½, Jalan Ipoh, 68100 Kuala Lumpur.

🔺Auction Date: 20/07/2019 (Saturday)
🔺Built-up: 1,119 sf.
🔺Tenure: Freehold
🔺Reserve Price: 🔥🔥RM567,000🔥🔥
🔺Market Value: RM700,000

Owners are underwater.

Source of article: https://www.orientaldaily.com.my/news/xilie...19/07/07/297185
Translation via google:

Want to buy an auction house?
After 6 auctions, the price of 900,000 new homes fell by as much as 46%.

The auction houses are old, broken, haunted, and even splashed with red paint at any time, not worth buying? Not necessarily, in recent years, many new homes have been auctioned. For example, in Kuala Lumpur, a newly built luxury apartment unit failed to auction at the market price of RM900,000 for the first time. After six auctions, the price has dropped to RM490,000, a drop of 46%.

As the housing market slows down, more and more newly built units have been auctioned, and no one has ever lived in the new housing units, and it is much cheaper than the market price.

One example of Wu Zhiqiang, one of the founders of Act Fast Real Estate Agency, was interviewed by Oriental Daily. The above auctioned example was a 911 square foot unit at Abang M City Apartment.

He said that another example of a new home auction was the Arte Plus apartment, which had its first auction price starting at RM800,000. After several rounds of auctions, it has now fallen to RM400,000. "The most serious decline is in Cyberjaya. The auction price can be said to have collapsed. If the developer sells a house of RM80 to RM900,000, it will only fall to around RM300,000."

He explained that this is because Saicheng's local population is sparse, and many homeowners are buying and renting instead of self-occupation, resulting in a sharp drop in local housing prices. Some 1400 square feet of unit prices have fallen to RM380,000.

“Some new apartments have been auctioned for a year to a year and a half, resulting in many people not buying the developer’s house and choosing to buy new ones in the auction market.”

I can't afford to auction

He said that the best-selling auction house in Kuala Lumpur today is an apartment unit with a price range between RM400 and RM500,000, and many of the units are new. “The trend of new homes being auctioned is becoming more and more obvious this year. It is estimated that almost 200 new homes will be auctioned this year in the area of ​​the Selangor.”

He said that there are similar conditions in Penang. For example, the market price of The Clovers is about RM700,000, but the auction price has dropped to RM500,000, while the price of Arte S has dropped from RM800,000 to RM500,000.

“There are about 30 new homes auctioned in Penang this year.”

He analyzed that these homeowners may not have to pay for the first time when they bought a house, and thought that after the house was built in three to four years, the salary would rise, and the salary would not rise too much, and they could not rent it. Mortgage has led to an increase in the number of auctions.

"If you buy yourself, it is a good time now, because the quantity is very large, it is very cheap, and the house price has almost fallen to the bottom."

Sun Zikai, former president of the Penang Auctioneers Association, said that there are many new homes in Penang that are being auctioned, such as Arte S serviced apartments near the University of Science. After the construction, several houses were auctioned, such as an area of ​​1,262 square feet. The unit of the ruler was sold on January 11 for RM607,500.

"This kind of house was auctioned after it was built and taken into the occupation paper. It has not been moved in and lived."

He added that the reason for fewer buyers of serviced apartments also includes commercial units, so local taxes, house tax or water and electricity are more expensive.

Second-hand housing slow-moving new home buyers more choice

The auctionGuru.Com.My auction information network founder Xie Lianyi believes that now is the buyer's market, because the buyers have too many choices, so the price of new homes being auctioned will fall.

He explained that buyers have many choices, in addition to auction houses, as well as new homes sold by developers, including slow-moving homes, and can also buy houses through the ordinary second-hand market.

“The new houses being auctioned are now on the rise, and the number is quite large. For example, M City and Arte Plus apartments, Wansuo and Sungai Buloh also have some landed properties, which are sold at prices below 30% to 40%. ""

He said that some units with a market price of RM900 to RM1,000 per square foot also fell to RM600 to RM700.

He analyzed that in the past, the houses that were generally auctioned were low-priced houses, but in recent years, high-priced houses were more common than ever.

He explained that the previous housing market was relatively stable, so in the economic storms of 1997 and 2008, the low-income groups were mainly affected by the auction.

“But after 2008, the general public changed the speed of industrial value-added. Many houses were sold very well at the time of promotion, and the price also rose very quickly. So many people bought houses, but as the economy was not good, some people got on it. 'The tail bus', the house price began to fall."

Sun Zikai said that some of the new housing units he auctioned were not sold for three times. He believes that this is because the auction house still needs to compete with the new property, the developer now offers many offers, and the house broker also strives to promote the developer's unit.

The number of high-end apartment auctions doubled in 3 years

According to AuctionGuru's "2018 Auction Market Annual Report", the number and value of high-end apartments that were auctioned in China in 2018 have more than doubled in 2015.

According to the report, the number of condominium units being auctioned increased from 1,142 in 2015 to 2,407 in 2018, and the market value increased from RM 659 million to RM 1.39 billion, both of which increased by 111%.

The high-end apartments that were auctioned in 2018 cost an average of RM580,000 per room.

The apartment is still the most expensive type of high-rise building. In 2018, a total of 6,863 apartments were auctioned, with an average price of RM200,000 per room.

However, the increase in serviced apartments or suites is the most amazing! In 2015, there were only 102 units with a total value of RM33 million, but in 2018 it has risen to 1797, with a total value of RM 826 million, with a 16-fold and 24-fold increase in quantity and value, respectively.

According to the report, the number of high-rise buildings being auctioned is large, or due to oversupply and low rental returns, more homeowners and investors are giving up their mortgages.

“High-rises are easier to sell in the auction market because of lower prices, higher facilities and rental returns than those in landed houses.”