Wow RM 166k, about RM 140 psqft

Developer market still strong ..almost 70% take up rate from new launch

Bank release loan based on purchaser repayment capability not on occupancy rate

Actually now is the time to get good value properties either new development or auctions market. Open your eyes.

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?



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

I think its great that developer offer this kind of rebate that can be converted to downpayment

Imagine young buyers with 2k-3k salary, how much can they save a month? With so low salary, things are getting pricier, some just manage to save rm200-400 per month

While the property price is getting expensive, downpayment usually are 5 figures somewhere between 30k (assuming)

If u are saving RM200-400 per month, u will need to work till ur ass off just to get enough money to pay downpayment! By that time u are already old, MRTA will be more expensive. Dont forget all these while the RM200-400 savings are for downpayment, how about those legal fee / SPA fee and etc? Those could come up to 5 figures as well

Hence, developer offering certain fees for free + cash rebate is a great move , else it would takes 10-20 years to own a house...

Trying hard to rig the "rental Yield" 

Where’s Adrian wee now

2 side of the coin~ https://youtu.be/9iUanyq3ErE?t=120

pessimistic people vs the market is going boom, missing the boat soon~ thats why guru promoting bbb

Dude, I was stupid back then just fresh out of uni..

Wanted to live the lavish life, drive nice cars be rich..  due to so many brainwashing, now that Im older.. really wanna slap myself.

O2 residence is a real bargain.

Construction industry is smaller than most realized. It is better for the gomen to focus on services and manufacturing sector.

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.

auction property is because a lot of compress loan, then people run away with cashout.

you should blame developers for starting the trend “cash out” in the first place, people do compress loan for the sake of it. then can’t afford