can share robertson where can buy 40% below spa price?

Just updating the numbers

Year - number of overhang residential units
2017 - 24k units
2018 - 32k units
2019 - 48k units
2020 - 57k units
2021 - 64k units (184k total unsold)
2022 - still waiting for data

More supplies to come!

Source:
https://www.thestar.com.my/business/busines...that-never-pops

"despite the massive amount of overhang that we see in the service apartments and Soho segments, developers remained optimistic to build even more of them and future supply is expected to be more than the current inventory"


Think thrice before invest into properties

Many flippers still delusional to think the price will only keep going up.

Let's see what happens when we enter recession.

Future supply against stock of high rise in % is the scary part.

until overhang is reduced substantially, price will remain suppressed.

This post has been edited by icemanfx: May 9 2022, 01:41 PM

Already dropping since 2014-2016. Maybe they just didnt study enough and got duped by "gurus"

Hi Auction God AskarPerang , I'd like to know please if the 83, Jalan Terasek 7, Bangsar, corner / end DST auction was sold? Nice garden and prime2 location facing park. Can't even find any for sale on Mudah. Seems slightly under market at something under 2 mil? Thanks

The unit was called off last month.
Reserve price was at 1.89M.
Owner managed to save the unit from being auctioned off.

what are some risks of auction housing?
got risk like paying 20% downpayment? thats what i knew only

There are risk u may find a dead body inside

Thanks for sharing, but the article is behind a paywall. Any chance of posting the full article text here please?

It’s 10% downpayment, burn if you can’t settle your loan disbursement within 90 or 120 days (depends on the terms in POS).

Main risk is still previous owner refuse to move out or sabo the property before moving out. Hence, always go for either vacant or tenanted unit (not owner stay).

so normally bankers are not willing to accept lelong offer?
if owner refuse to move out have to sue them as well using own money?

Bankers will give you the loan as long as you are eligible but the thing about lelong properties is that you need to sort out all the paperwork and red tape completely e.g. settle all land office, maintenance fees, any unpaid taxes etc which usually you can claim bank from the auctioning bank first then the bank will disburse your funds. It’s a lot more work to be done compared to buying normal new or subsale properties.

If prev owner refuse to move out then you need to take legal action using own money to evict them and your loan repayment starts from the month the loan is disbursed so you gotta pay loan for a place you can’t live in yet plus whatever legal fees.

gamble for a far lower price property la
no wonder its rich people game

Rich and not rich also can play but if you not rich then put in more effort to stalk the property properly la. Personally I would recommend going for tenanted properties as it is so easy to strike a deal with the tenant when they know their owner house is about to kena auction and whenever I find a tenanted unit it’s almost as if you’re buying a normal subsale unit where you can go in and view the whole unit entirely first before going for the auction.

Malehsian are poorer than most expected.

Looks like the market will be stagnant for a really long time.

Huge increase of supply incoming, property overhang to get worse and worse, especially for the high rise.