the crash was actually started in june or july 1997. I bought in feb 1997.

after 10 yrs, my appreciation was only like 50%. AND this is Puchong and not some 3suku locations that need to cross many mountains and rivers to get there....

those that bought in the last few years and hoping like hell that their properties will double or triple their prices in 10 yrs or more.....better pray hard hard and accumulate good karma.

you talk like holding 4 properties macam going karaoka and sing song tok kok.

he may even lose the education fund, not to mention lose further 2 units that meant for his children.

How about the value now after another 10 years?

https://www.propertyguru.com.my/property-li...nda-tan-1449503

abt 700k.

price increased during 2011-2014 kv property bull run was exceptional.

Let me pay a visit and see if i can push the value 100-200k higher from banker

There are still people into this?

I thought these types of risks are only to be done during a recovery stage of the property market or when it is booming.

In 2005, my old man was approached by a certain developer's rep to view a not yet launched project. Only 200+ units of high end condos.

He brought me along as he was interested in moving out of his landed house.

He was shown the project, was quite interested and said he would buy a unit but his max budget was around RM1.8m as he wanted to sell off his house.

Back in the day, you could forget about rebates or cashback and if you had to ask for a discount you'd be told where are the doors.

Instead of being shown on the plan 1 unit that was in his budget, the rep told him no need to sell the house, all he needed to pay was RM50k per unit to book. Told him they would arrange everything else. He pestered to book 5 units, said guaranteed no issues.

Next day he gave them 5 pieces of bank drafts and was told he would hear from them very soon. Each unit was RM520psf. All 5 were identical but 2 of it is in the 2nd phase.

He then forgot about it till 8 months later, they told him the condo was launching and to come sign some docs. On the day of launch it was RM590psf for the 1st phase and only 35 units were available as the rest were sold before launch. He was told to pay another RM50k "goodwill money" on the 3 units.

6 months later, 2nd phase launch 40 units available for RM650psf. Had to sign SPA for all 5 units and loan agreement as well. All were priced at RM520psf but SPA RM650psf.

Now at VP in 2009, 1 unit was sold at RM880psf.

2 were rented out as bare units. Enough to cover the repayments.

1 unit he had it renovated and moved in. He gave me the keys to the old house.

Only thing 4 months later he asked me to return the key as he wasn't going back there as he was through with living in a prison in the sky.

Therefore it was rented out at a bit more than the other 2.

2013, he sold both the bare units at RM1220psf to the tenants that were living in it.

2014, someone offered to buy his remaining unit at RM1500psf. He didn't sell.

Today that place asking price RM1200psf.

I always thought that was the example of loan compression as essentially that unit is nearly FOC.

too bad didnt hold another 10 years, double oh..

i dont see it this way.

i rather used the 300k proceed and reinvest into other properties which luckily i banked more money than 300k after 10 yrs.

True also la. Good for u

Very inspiring story. I am sure many who live through property boom 2006—2012 wishes they could buy and leverage more.

Unfortunately feel sorry for those who do loan compression 2013—2017.

kv property bull run 2011-2014 was a fallout of u.s qe. most of those profited at the early stage, poured back for more and believe many are stuck.

This post has been edited by icemanfx: Feb 2 2019, 01:09 AM

To be honest, its only on reading on LowYat that I discovered many are doing this and doing it for fairly low end properties.

Most people I know who do such -ve gearing investing tend to do so with commercial properties or high end/premium residential properties.

The market for high end condos started crashing right around 2014 starting with the rentals and then the price started falling especially in MK and KLCC. Most investors started pulling out or parring down their holdings by then.

cant sell at market price one, must lower a bit to attract potential buyer

ManutdGiggs 后知后觉

Oh icic. Tats bad hor. U r safe la u sold in 2012. Hoseh liao. 👏👏👏

But those sifu (estimate age around 40 years old now) predict that in his lifetime, will experience at least one more time of such property bull run.

All just base solely on past experience. Last 20 years got 1 bull run. So next 20 years will have at least another 1 bull run. No further reasoning why. Just saying base on simple logic.

Many still failed to realize kv property bull run 2011-2014 was fueled by cheap and easy credit, a fallout of u.s qe. Similarly, the bull run ended when u.s qe started tapering.

With number of overhang and more incoming supply, it will take longer than most expected to digest. By about 2030, Malaysia will become a ageing nation; if Japan is any precedence, property demand and price will be on downtrend.

Believe betting on btc has a higher chance to profit than kv property bull run in the foreseeable future.

This post has been edited by icemanfx: Feb 2 2019, 04:07 PM

Betting on btc? Surprise this statement coming from our respected icemanfx. Indeed i am more conservative on investment.

My view is never bet on something that you cannot understand and have no control.

Spot on!!

In addition credit tightening by BNM didn't help either.

Hardly any investors are predicting another bull run, in fact many who bought places are hoping upon VP it does not drop in price. This certainly can be something that happens especially judging by how much certain places sell at auction that are still brand new.