QUOTE(wild_card_my @ Jul 1 2019, 10:07 AM)
Since we are just chatting and I am not advising anyone in any professional capacity, I would recommend prospects to avoid any high-rises at developers' SPA prices. There are plenty of options in the firesale (desperate) and lelong listings. The older condos get a bad rap; in general each time a new condo gets built in the vicinity the older condos prices will generally depress. Keep note that depress in this context does not necessarily mean "reduced" in nominal terms, but reduced in strength of activity. Meaning if the prices were not depressed due to the external activity (new condo being erected), the prices of the older condos may have increased at higher rates.
As it is though, a good number of condos in Cyberjaya actually lost its value and are sold at below SPA prices.
I cannot provide evidence (due to legal reasons) but I know a good number of high-rises in Cyberjaya that are being transacted at marked-up prices. That seems to be the norm there; agents and owners can't do much against that market force (supply and demand). Keep in mind though that the agents don't want to depress the market any further, but they know the prices may not be transactable at their list prices, so there is plenty of room for negotiations.
Avoid properties with huge maintenance-payment backlog. At some point, the backlog will reach a point where it is not reversible and the condo maintenance will face a downward spiral. There is a new condo/complex with individuals owing up to RM17k to the management, that's probably something you would want to avoid. Some may claim that once transacted, the amount due will be paid-off, but if the condo is run down, will people want to purchase those units? It will be a spiral of bad maintenance and dropping value, like Domain area.
The problem with Cyberjaya: it changed its objective midway, making it somewhat of a "bastard child". Other cities were created with a clear objective in mind - a satellite city (subang jaya), an industrial city (klang cities), an administrative city (putrajaya), etc. Cybejaya tried to be a "tech hub", which failed, then it opened up and became a "property city", which also failed spectacularly. If you love living here, that is fine, but investing here is questionable unless you get it at great firesale/lelong prices
Thank you for the good advice. Markup of prices in SPA is pretty normal, that's why I am very cautious not to use bricks or SPA as the sole reference. Plenty of preparation is needed to catch a real firesale with promising future.As it is though, a good number of condos in Cyberjaya actually lost its value and are sold at below SPA prices.
I cannot provide evidence (due to legal reasons) but I know a good number of high-rises in Cyberjaya that are being transacted at marked-up prices. That seems to be the norm there; agents and owners can't do much against that market force (supply and demand). Keep in mind though that the agents don't want to depress the market any further, but they know the prices may not be transactable at their list prices, so there is plenty of room for negotiations.
Avoid properties with huge maintenance-payment backlog. At some point, the backlog will reach a point where it is not reversible and the condo maintenance will face a downward spiral. There is a new condo/complex with individuals owing up to RM17k to the management, that's probably something you would want to avoid. Some may claim that once transacted, the amount due will be paid-off, but if the condo is run down, will people want to purchase those units? It will be a spiral of bad maintenance and dropping value, like Domain area.
The problem with Cyberjaya: it changed its objective midway, making it somewhat of a "bastard child". Other cities were created with a clear objective in mind - a satellite city (subang jaya), an industrial city (klang cities), an administrative city (putrajaya), etc. Cybejaya tried to be a "tech hub", which failed, then it opened up and became a "property city", which also failed spectacularly. If you love living here, that is fine, but investing here is questionable unless you get it at great firesale/lelong prices
Jul 1 2019, 11:07 AM

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