Yeah signs are beginning to correspond with what was speculated the last few months. The trade wars between China and US are impacting trade and slowly the property sector all over the world.

In addition we also have internal problems of high debts and unresolved issues of projects abandoned due to the 1MDB fiasco.

Few results update from RHB night of auction!!!





2 bidders.
Sold at 334k just now.
Vacant unit. Already more than 1 years plus access card barred. Water usage zero and TNB usage nil. Unit facing inside swimming pool. Not facing cemetery.
Good catch!!!




3 bidders.
Sold at 302k just now.
Occupied unit.
Still a good catch.




As expected. When price too low will attract many bidder.
Total 7 bidders.
Occupied unit.

Sold at 208k. Much higher than last month reserve price of just 190k. Can win unchallenge and save up 18k.




4 bidders.
Sold at 445k just now.

This is non bumi lot. Anyone can buy. Vacant unit. Very nice view from the unit. This unit S&P price at 900+k. Now sold at half price.

Well, this is lelong. Good catch!!!

Y dont just buy suria pantai, 2xxk only, 810sqf, stay between mud valley and PJ and beside kerinchi forest reserve and bukit gasing hill. Frrsh coat of pain lagi

is number of auction props increasing askarperang?

More apparent now for newly completed property. Majority still in brand new condition. Maybe keys also not yet taken.
Not only fall below S&P price, but also below 3-4 years ago nett after rebate price. Example:
KL Traders Square
Lakeville Residence, only 2 blocks completed
Savanna Southville City, this one itself is making lelong record

And will last for few years after completion such as
M City
The Elements
Central Residence
Mirage By The Lake
Verdi
Hillpark
Etc. All never ending lelong units in the market

any trend noticed among the owner and projects that kena auctioned? are the owner overstretched in borrowing or the places just cannot rent out and cannot resell.

Believe the trend was casted when dibs was available, many hoped to flip upon vp. What is happening at auction is basically a fallout from 2011-2014 property bull run.

This post has been edited by icemanfx: Jan 13 2019, 02:14 PM

I'm looking at lelong market for condo such as irama wangsa or condos/landed with similar price and quality. Can any lelong agent contact me for such units?

Hi can explain how DIBS cause problems to property owners who intend to flip?

Tq

The people who need dibs to buy property actually cannot afford the property.

Once the interest payments come in they cannot pay and default

Gov banned dibs in 2013.

Bull run didnt run til 2014. It was started in 2010 and end around 2012.

If we look at housing price index(HPI) from the NAPIC, and if I took about 10% or more as a run, then it does look more like it ended 2013-2014.
But how much % to classify as a run is subjective
Cheers

I prefer to look at my subsale properties.
2014 15 already on the down trend....no longer bbb....from subsale buyers..
The peak of bull run was btw 2010 to 2012 when we talked abt subsale.

Those bought off plan in 2012 will be doing it tough when vped.

This post has been edited by BEANCOUNTER: Jan 13 2019, 10:50 PM

ManutdGiggs

Thanks aunty👌



This post has been edited by ManutdGiggs: Jan 14 2019, 06:10 AM

Saw 6 auction units For Mcity. Market So bad.

Plenty of lelong units from M City and The Elements.

As of today:
7 units from M City: https://www.lelongtips.com.my/search/M%20City
6 units from The Elements: https://www.lelongtips.com.my/search/The%20Elements

Projects completed like 2 years already. Still never ending lelong from both places.

I believe more will be coming. So Now is buyers' market considering more and more property being developed

Can qualify for Msia Book of Records.

Soon, every unit will be a lelong owner.

Some 180 property developers have pledged to slash the prices of their unsold homes by at least 10% as the real estate sector struggles to clear RM22 billion worth of inventories amid rising prices and tightened financing availability.

The government will host the developers at a mega home sales expo “Home Ownership Campaign” in March, two decades after a similar expo in 1998.

Housing and Local Government Minister Zuraida Kamaruddin said the campaign would be held on March 1-3 at the Kuala Lumpur (KL) Convention Centre.

https://themalaysianreserve.com/2019/01/11/...alleviate-glut/

One may not need to go to auction for cheaper price property. does it mean property will devalue by >10%?

those buyers who are not in hurry could wait to shop in march.

This post has been edited by icemanfx: Jan 15 2019, 03:15 PM