Finance Minister II: Indefinite freeze on luxury property projects from Nov 1

KUALA LUMPUR: The government has frozen indefinitely approvals for luxury property developments from Nov 1, to control the oversupply from adversely affecting the economy.

Finance Minister II Datuk Seri Johari Abdul Ghani said today the Cabinet decided this after scrutinising a detailed Bank Negara’s report published in June on the real estate glut.

He said there was an overflow of luxury projects which had outstripped the market demand for affordable homes.

"The Bank Negara report takes into account high-rise condominiums, shopping malls and commercial units, including those that are worth more than RM1 million," he said after distributing over RM250,000 in aid to 1,000 people under the Titiwangsa Umno’s "Back to School" programme.

Bean, where is good to invest?

how many condos or service apartments in cyber is considered as luxury? I mean the newly launched ones?

CJ......bcos its good for ownstay.

that why now keyword for developers is "affordable house"

to invest now....will be very tough...from select loc, proj, type, to unit orientation/level/facing....all depend on the acumen in prop...even within same proj..some ppls scream hell..some make reasonable profit or good return yield...it applies to the market now. to say this cyber is bad or good..no longer valid. those who like to shoot..i am sure they kena shoot in their other investment too...swear to god ..whether they kena or not rawang? kajang? shah alam? becoz the all market affected. lets face it rather tha simply shoot for fun lo haha..

This post has been edited by propertybbb: Dec 14 2017, 08:46 PM

to be fair too... alot invested at matured cities areas too compared to those cold locations... and those cold locations u mentioned... mostly invested on landed projects... except maybe on i-city... with all the overly hyped high-rises... lol... landed projects never able to command good rental yield unless u located just opposite a uni or college... but generally... everywhere is bad now... difference is matured locations still can rent out albeit at a lower rental yield... and try extend holding with those low rental income as long as possible....

I was just responding to ur queries earlier on. U don’t have to make it sound like I purposely mention the political figures living in Cyber.

And the reason u’re defensive is because I’m anti-investor for their greed coz u urself is also one of them? U know, there’s a difference between rich and respected and rich but despised. U sound like the latter. No offence.

My take on Cyber?! Things are certainly bad now regardless where. And even worse here coz it’s not a prime area yet. But as economy picks up it will certainly improve over time. Just wait and see.

sorry you were the one who posted affluence people stay in cyber. I didn't make this up. All I said is affluence people everywhere, especially high end enclave. Nothing more to mention. high end enclave is either stayed by industrial movers and shakers, politicians and/or bad hats.....everywhere also the same.

you can anti-investor as much as you like. this doesn't bother me.

just based on few posts, you already knew me so well???? you can form any opinion on me. this is a free cyber world. usually people started personal attack when they have nothing much to add on to the debate. I understand.

whenever talks on cyber auction units, units occupied by foreigners and etc....the 1st defence from cyberlovers is always.......EVERYWHERE ALSO GOT. Why not just concentrate on discussion of CJ instead of other places?

CJ 30yrs in the making still not prime area? Not prime area got so many highrises, dedicated highway to KUL, malls, highend landed, univeristies, smart city setup and etc?????

Ok...enuf of CJ discussion as of now. it really gets very old.

Cannot anti investor lar.

Without investor where developer got enough money to build house for non-investor.

Not sure why compare to Subang or PJ where both are different timeline. Unless you have time travelling machine otherwise it is not apple to apple comparison.

Even if die die you wan to defend your argument.... if you buy a landed in Setia Alam, SEP, Canal City, Kajang I do not think all these are currently doing better than Cyberjaya Landed.

You should use TODAY as yardstick and what you think will happen in next 5 or 10 or 20 years. Today you can buy DPC landed at RM2m or SEG at RM1.1m then you can debate which is better for own stay or investment.

This post has been edited by gks: Dec 15 2017, 04:17 PM

cj first phase of development 20 years ago had afc, now 2nd phase face over supply, looks like not so good karma.

This post has been edited by myers: Dec 15 2017, 05:11 PM

I agree on the current investment condition is not favorable but at the same time it can also be good opportunity. I'm sorry, i don't understand what do you mean by simply shoot for fun? In my opinion the determinants of the price and potential yield of the property can be both Macro perspective (such as current economy, demand supply of the location, nearby amenities etc.) and Micro perspective (unit type, level, condition, facing and so on). Why i say its a good option for investor to consider Cyberjaya now is base on the Micro and Macro perspective, For Macro perspective, base on the similar price range, there is limited well plan G&G community in 2nd tier of Klang Valley have similar facilities such as highway access, public school, international school, hospital, university, publlic transport (MRT, KLIA transit), lake gardens and so on. As for the Micro view, there is luxury of private facilities such as private club, good landscape and garden, securities which is the priority of the G&G community (for example SEG, Sejati, SH, GR). Base on the current condition, the weak market and oversupply situation is providing opportunity for a better bargain and price for investor, that's why i think it might be a good opportunity. BTW, u might get luck in the Auction market as well. That's just my 2 cents,

I agree.

Yup correct.

wowwww so cheap
2000sqft condo???

its not just cyber....

everywhere else also the same.

what if the price go further down in next couple of years..

Well its Cyberia lor..
One of the early development in cyberjaya..

In a few years time, recently or soon to be vped units will be similarly deemed old/out dated.