How many of these vendors made and how much they made? How many has price and no market?

This post has been edited by icemanfx: Feb 25 2021, 01:22 AM

lol who necro this?

Some 30% or about 1.6 million of its members may withdraw almost all of their savings from Account 1 while another 60% or 3 million members “have or will use up all savings in Account 2”, its outgoing CEO Tunku Alizakri Alias said.

https://www.theedgemarkets.com/article/epf-...-1-60-account-2

Retirement crisis in the making.

Pity them

A year into the pandemic, early data and surveys point to a baby bust in many advanced economies from the U.S. to Europe to East Asia, often on top of existing downward trends in births.

A combination of health and economic crises is prompting many people to delay or abandon plans to have children. Demographers warn the dip is unlikely to be temporary, especially if the pandemic and its economic consequences drag on.

“All evidence points to a sharp decline in fertility rates and in the number of births across highly developed countries,” said Tomas Sobotka, a researcher at the Wittgenstein Center for Demography and Global Human Capital in Vienna. “The longer this period of uncertainty lasts, the more it will have lifelong effects on the fertility rate.”

https://www.wsj.com/articles/the-covid-19-b...ere-11614853803

KUALA LUMPUR, March 9 — Forty per cent of millennials are spending beyond their means, said Finance Minister Tengku Datuk Seri Tengku Zafrul Abdul Aziz.

He said according to Bank Negara Malaysia, 47 per cent of Malaysian youths have high credit card debts.
....
He said according to the Employees Provident Fund (EPF), 50 per cent of EPF members have less than RM200,000 in their accounts — lower than the average of RM240,000 that members should have in basic savings when they reach age 55.

Tengku Zafrul also noted that 50 per cent of contributors would exhaust their savings within five years of their retirement.

https://www.malaymail.com/news/malaysia/202...ministe/1956305

is ok.. just save RM500 per month and you will be a millionaire.. no worry.. keep buying and consuming + saving 500

I was recently doing some condo viewing in PJ and Bangsar. I can tell you the price has dropped. For example Tropicana Tropics, when I first saw that place the 625 Sq ft going for 530 to 550. Now same agents are messaging me saying 428k nego.

All you need to do is just open up iProperty to see the negative yield.

The rich may have holding power, but if the price is going to take years to recover, they definitely cannot sell above market price, so some will just let go at market price.

What is the rental price for that condo?

This post has been edited by icemanfx: Mar 29 2021, 11:56 PM

Excessive auction units show need for sustainable valuation model

SINCE 2019, the property market has been flooded with auction units spanning from Kuala Lumpur to Johor Baru.

According to property agents, 4,000 to 6,000 units of properties are flooding the market every year. Some units still fail to be sold off despite five or six rounds of price reduction. I came across one apartment in Puchong, Selangor, that went through almost 10 rounds of price reduction before it could be sold off.

To put this into perspective, every reduction usually amounts to 10 per cent off the previous price. The heaviest consequence is faced by property owners, whose dream-come-true moment of purchasing a new property ends in a nightmare.

Additionally, the number of auctions is not just high, but has surged to a new level, turning individual purchasers' nightmare into a nationwide one. I say so because property purchase is typically the biggest life decision for most people. As such, a wrong decision will definitely entail consequences severe enough to ruin one's family and even nation. Worse still, property transactions are gearing base, meaning that almost all transactions are sealed via bank borrowing by the purchaser.

Therefore, a plunge in property prices not only erodes owners' wealth, but pushes the borrower into limbo as well. If momentum builds in this direction, banks will encounter plenty of non-performing loans, jeopardising their balance sheet.

Ultimately, if we let this trend continue without any effective measures, individual purchasers, banks, and the nation will pay a costly price and may even slump into a crisis. We need to study the problem to determine the critical factors attributed to this phenomenon.

Once identified, effective measures can be rolled out to ensure the sustainability of property development nationwide. Most importantly, the harmony of the family unit can be sustained.

From my in-depth analysis of the property market over the last two decades, property prices started to gain an upward momentum in the 2010s, after almost a decade of inactive or stagnant prices.

The soaring prices became even more significant between 2014 and 2016. As a result, most developers started launching new properties with sky-high pricing. The booming economy and easy credit acquisition also contribute d to high property prices. Such an increase in property prices is in fact good for households, as it uplifts their social status.

However, property price hikes must fundamentally be economically supported. From 2015 to 2016, some property developers set prices at an extremely high level.

While they generate handsome profits, the adverse and nightmarish effects of their actions are what households and the nation are facing now — a record number of auction unit s and countless bankrupt purchasers, many of whom are still young. I noted a real case of this scenario that played out in Cyberjaya.

A few years ago, a young individual (A), in his 30s, bought a luxury apartment unit at a staggering price of RM900,000 for 775 sq ft — approximately RM1,161.29 per square foot.

This pricing rate in Cyberjaya is shocking, but what is even more alarming is that there were many more properties launched at the time with such prices.

Purchasers were still bullish in their outlook despite sky-rocketing prices. Unsurprisingly, these property purchasers' bullish stance has turned into a catastrophe, particularly in the last two years. To illustrate, A had secured a loan for RM800,000, equivalent to approximately a RM4,000 monthly loan installment.

However, the market rental price could only stretch up to RM1,500 a month for that unit. Expectedly, after three years, A was unable to serve the loan commitment. In 2020, A's unit was auctioned off at a mere RM265,000.

In conclusion, A did not just lose the apartment unit through the forced auction sale, but has also slumped into outstanding debt of around RM500,000 that will impact his life. Certainly, this case depicts only the tip of the gargantuan iceberg that is the property market. Two questions stand out in my mind.

How were developers possibly allowed to sell at outrageous prices? How did banks allow such high valuations?

Therefore, parties ranging from regulators and developers to bankers and valuers must formulate a sustainable valuation model for property values to achieve mutually beneficial and interdependent social, environmental, and economic goals.

Only a sustainable valuation model can guarantee sustainable property development and a harmonious society.

https://www.nst.com.my/opinion/columnists/2...valuation-model

Kek!

Kesian

KUALA LUMPUR (March 31): Bank Negara Malaysia (BNM) said today Malaysia's household debt-to-gross domestic product (GDP) ratio had risen to a new peak of 93.3% as at December 2020, from the previous record high of 87.5% in June 2020, mainly due to the country's GDP remaining below pre-Covid-19 crisis levels and as growth in the nation’s household debt normalised to pre-pandemic levels in the second half of 2020 (2H20) as the country emerged from stringent movement control restrictions.

https://www.theedgemarkets.com/article/mala...ak-933-dec-2020

among the highest in asia.

So cheap now.

Bank Negara Malaysia (BNM) warns that unsold properties in the country have remained at an elevated level as at end-2020. These are mainly the serviced apartments, small office home office (SOHO) units, and houses priced above RM500,000 in less popular locations.
....
BNM also observed that there were adjustments to incoming supply of office and retail space as some developers deferred the completion date of their projects. However, it said the planned incoming supply of office and retail space in the Klang Valley over at least the next three years remains large, equivalent to 23% and 58% of the existing stock, respectively.

https://www.theedgemarkets.com/article/numb...l-very-high-bnm

Market correction coming in

Based on last transacted price
That's why