Sold at 585k. 8 bidders.
If you scroll above, can actually win without fight at 567k back in Jul last month. Haha.

i think msia have too many speculators due to sudden increase in house price in recent years. guess the market will become normal again once the market has "digested" this "extra" units. i think now is the best time to buy distressed properties

https://kopiandproperty.com/2018/08/11/auct...g-bad-property/

last 3-4 year some developers start pricing their new project at "future price"as they saw the climb in property prices 10 years ago

Little that they know, the oversupply of property in KL/Selangor is dampening the market + the rental market is not doing well due to stiff competition on new developement

Most of the buyer of these "future price"condo project suffer negative income for several years.


Ideal situation will be = Down payment for new condo 20% which will force the lower income to rent which in turn create a very healthy rental market

Present market = Down payment 0-$1000 which makes it affordable for almost everyone to own a condo/house, which makes the rental market super competitive, some rent for less than $1500/month for a 3 bedroom

With current high price for condo + dampening rental market, I foresee many more auction property coming into the market as young investor do not have the holding power + property price will not be seeing any upward trend in the next 4-5 years due to oversupply in the market

I would safely say that, there is no rush to buy auction property at this moment as you will be spoilt for choices in a year / two when all those high density on-going projects VP-ed and hit the market.

Askar Perang taiko

may I ask why Tropicana Metropark Park bumi owners can only bidded by bumi in the lelong market?

TMP is freehold property, and shouldn't have such restriction rite?


oh one more thing, whenever you posted video here, the download of the page is extremely low. Not sure other forumers experienced the same problem I have or not.

Freehold or Leasehold, developer must set aside a percentage of project for Bumi.

So if the property sold under Bumi and got auctioned, then only Bumi eligible to bid

Only applicable to lelong and not open market?

Bcos for fh property, anyone can buy in open market or subsale market

Coz still under master title. Developer needs to fulfill and meet the quota. If oversell out to non bumi, later when want to get individual strata confirm will face problem.

Applicable to all freehold project but still under master title. Doesnt matter lelong unit, subsale unit or developer unit. Unless the developer already applied and get approval from authority no need to meet the bumi quota.

Make sense. Tq taiko

Can foreigner buy KL condos by auction? I know that it is not allow at Selengor.

Buying power is trully back? Million dollar props ppl also fight.
Or maybe everybody tries to buy before SST kicks in?
But then again ppl saying SST will actually decrease house price? No?

Not bad deal. Free grill, kitchen cabinet, aircon, water heater, etc.

Opening of the unit:

Interesting.

Good idea to learn up , and buy from auction.

question: will rumahwip end up to auction within the 10 years holding if no pay bank instalment? if yes, anyone can buy? if no, mean owners no need to pay promptly and bank wont lelong?

Bumi Lot can lelong, so is rumahwip.

Only bidders must qualify.

Sure cheap, lack of bidders.

bumi easier to identify/qualify and sales is straight forward

rumahwip - need application, approval from urussetaia, angkah sumpah from mahkamah , sure longer process , loan may not disburse during the 90days period and incur high bank interest

what if not approval, what is the penalty ? 10% gone?

if easy to approve , sure many go for auction since take shorter time than the normal process (ballot, applications etc). many qualified bidders will go auction and price sure go higher

I dont think that is the process for rumahwip if ended up in auction.
So far no real case example for rumahwip but already got lelong unit for rumah selangorku.

Process same like low cost flats. No restrictions. Anyone can bid. No salary restriction. Not restriction to first house buyer only. All those low cost or affordable home restriction is throw out of the window in auction.
Only restriction is bumi / non bumi. That quota still apply.

The name transfer process not a problem. No restriction as mention above.
But after buying, you still have to follow the low cost restriction meaning you cannot sell within 5 years. But you can still "force sell" via lelong. Haha.
See the loophole there?

This post has been edited by AskarPerang: Sep 10 2018, 12:22 AM

then sure many will go bid if any rumahwip go for auction. but i think rumahwip only good in rental yield but not capital appreciation vs normal condo. normal condo (not the one next to rumahwip) is more liquid , better quailty, better managed, better residents profile, more up side .

Will be same like low cost properties. Investors willing to bid above market price coz that is the only method they can own those props.

Anyway I beg to differ regarding rumahwip will be lesser quality compare to normal condo.
Rumahwip majority own stay.
When a place majority owner own stay VS normal condo majority investors rent out not staying around, the place with majority owner own stay will be better managed. And as a whole, the place will improve. Compare to a place where majority tenants staying. Sure they couldn't be bother about the place.

base on my long experience , a condo with 10k monthly rental is better maintain than 5k, 5k is better than 2k, 2k is better than 1k, 1k is better than 0.5k. (due to resident/ tenant profile/attitude, building/fixtures quality eg lifts, tiles, pipes etc

i can give u example if want

note; many high end condo is more than 80% rented out, while PPR is more than 80% own stay
so majority rented out doesn't mean no good maintain, own stay doesn't mean good maintain