http://www.mysinchew.com/node/119363

think twice before hoarding all those overpriced high density pigeon holes in the klang valley.
After 30 years they become dilapidated and near worthless and are more like cars depreciating with old age,just when you have finished paying off the loans.Then its time to fork out money to buy another home far away from the city.

This post has been edited by Rampai Court Resident: Mar 26 2018, 09:32 PM

https://www.nst.com.my/property/2018/03/347...ay-recover-2020


This post has been edited by Rampai Court Resident: Mar 28 2018, 10:15 AM

Given bank interest rate rising trend, liquidity tightening, number of new supply, over supply won't be consumed soon, foreclosure is lagging behind, property price is likely near bottom in 2021 rather than recovery.

This post has been edited by icemanfx: Mar 28 2018, 12:10 PM

With SOME exceptions of course like in popular places with well planned housing like Damansara,
PJ,or Bangsar as compared to purely speculative developments to maximise profit inmost areas.
Returns will probably hover around 4 -5 %.it could be better to put money into say,REITs or even the
EPF whicj offers returns averaging 6 %.

This post has been edited by Rampai Court Resident: Mar 28 2018, 11:26 AM

Property is localized and without exchange, there is always exception to general market or sentiment.

This post has been edited by icemanfx: Mar 28 2018, 12:16 PM

//www.thestar.com.my/business/business-news/2018/03/28/bank-negara-unsold-housing-units-increase-unaffordable/

Not a good time to buy as products are already overpriced with Developers making 40 % profits in the recent past.
Definitely not a good time to sell.


This post has been edited by Rampai Court Resident: Mar 29 2018, 11:01 AM

https://www.nst.com.my/business/2018/03/350...discussed-rehda

Strata title management handbook

LOl! Visit Wangsa Maju and you find most of Bandaraya apartments developed by DBKL repainted in time for election,including the majority chinese section 2 slated for land grab by the MCA developer.
I think it is the usual mentality of Umno,offer some peanuts to the people near election and they forget and forgive easily just like how they forgive PAs or Mahathir's Umno.Some things never change,like this brand of kampung politics.
After election when Umno wins,they will probably agree with the Developers to change the laws to make land grab and acquisition enforceable as soon as the majority agrees, and the forgetful and greedy little buggers will allow the slimy Developers to collaborate with DBKL and politicians to enrich themselves and rob them off their legitimate homes.


This post has been edited by Rampai Court Resident: Apr 4 2018, 03:06 PM

Those deprived would feel grateful to be given peanuts.

pls count me in. Im the owner of RCP2 Block I. Thank you

"Deprived" people of Bandar Baru Wangsa Maju walk up apartments?
in 1985 the Urban Development Authority acquired Hawthorne estate to build the satellite town of Wangsa Maju together with Bandar Tun Razak as part of the NEP to increase the malay population in KL.
Houses were sold at rm 55K and a small section in section 2 was allocated to some lucky non malays.
Today they are offered rm300k to surrender their land which is a realistic value given the already high density of the scheme.
unfortunately rm 300k cannot buy another good value property nearby because of the shortage of affordable housing.
Of course the majority will accept rm300k as they have since then bought houses elsewhere and become absentee landlords.
But the reluctant ones will be those who do not have other homes,or bought the apartments recently and have bank loans to pay.
It is not as if they are enjoying privileges like those who live in subsidised rm25 K low cost flats ,which were part of the 30 % quota for Developers in the past as part of their social obligations under the NEP then.



This post has been edited by Rampai Court Resident: Apr 4 2018, 05:24 PM

Price rises from $55k to $300k in 32 years is about 5.5% p.a compounded.

In the 80s,prices of double storey houses in Sri Rampai
were only rm89K,and now they are worth rm450k if not renovated.
Compact houses in Desa Setapk were sold at rm35 K then.

But dont forget that in those days interest rates were about 7 to 8 %
and amortization rates very high,you practically had to pay almost double
the purchase price after counting your hefty interest payments over 20 or more years.
Interest rates were only lowered in the last decade or so to stimulate the economy and
increase consumption and investment.But it is still better than the negative interest rates of Japan and Europe.
Does anyone seriously believe that given the high density and the glut of oversized and overpriced condos
that their prices will appreciate at the rates of landed property or low density housing of the past?
We live in a different era.

Historically, residential property price rise at about inflation rate in the long term.

Kv property bull run from 2011 to 2014 was a fallout of u.s fed qe and is unlikely to reoccur in the foreseeable future.

With bank interest rate on uptrend and liquidity tightening, those bought to flip will be stretched and could be under water.

This post has been edited by icemanfx: Apr 4 2018, 07:12 PM

"Date / Tarikh : 31 December, 2015

To all Registered Owners of Blocks E, F & G of Section 2 Wangsa Maju

We regret to inform that the survey conducted by us since 21/5/2015 has been unsatisfactory and failed to reach the minimum 75% of the existing Owners of Wangsa Maju Section 2 agreeing to the redevelopment proposal.

Hence, as at to-date the survey proposal for redevelopment will be halted pending further notice (if any). Should there be new progress or proposal regarding the redevelopment, we will update you in due course.

Thank you for your co-operation and understanding

From the Management of Platinum Victory (WM) Sdn Bhd "

To all owners of RCP2-please read the statement above issued by PV issued in Low Yat Forum under "PV Wangsa Maju Redevelopment Plan.'

It says very clearly that in the SURVEY conducted by PV on section 2 residents less than 75 % agree to the proposal by PV,therefore they decided not to follow up.There is no rule that after more than 75 % agree the remainder must comply and agree to the redevelopment proposal.Common sense says that after 75 % agree,the Developer should be able to "kautim" the remaining 25 % easily and therefore worth following up.
Singapore has such a rule for VERY OLD buildings,probably those no longer for for occupation.You will know if your home is unfit for occupation,DBKL's building Control Division will issue a vacate notice like in Highland Towers, Bukit Antarabangsa or Taman Setiawangsa and condemn or demolish the buildings and evict owners from the premises.
in the meantime more talk of redevelopment will only cause tension and uncertainty in the neighbourhood and discourage people from buying the old apartments or renovating them to rent out for at least another 10-20 years if the place is decently managed.Prices will drop and units more difficult to sell.
Unless they change the LAW,which will probably be the first in the world as Singapore applies it only to VERY OLD Buildings,meaning more than 60 year old lifespan,even one owner refusing to sell will disrupt all redevelopment plans.You have seen how the proposals have damaged rcp1 leaving it in a "hung" state,neither here or there, mismanaged and neglected and gradually spiraling into a slum.
At least you know that even if the buildings turn to dust as a share holder you will be entitled to at least rm500k if the land is sold,meanwhile if the units are properly renovated and presentable ,and RCP2 properly manged by humans,you can still earn rental of rm1k per month for another 10 years, unless there is a glut of affordable homes coming up in the area.If you are desperate for cash,no one is stopping you from selling but remember that it was bought at rm68 K 30 years ago. There will still be a large number unwilling to sell as they know the acquisition compensation is not enough to buy a new house,and no Developer will offer the full land value as they want to maximise profits and minimise risk especially now with the soft property market.

read more here :https://forum.lowyat.net/topic/3867157/all


This post has been edited by Rampai Court Resident: Apr 5 2018, 06:48 AM

Im in too!!! Im Rampai Court Resident Phase 2! The revised Annual meeting for Phase 2 has been set on 29Th April.

I totally agree with you.

After the AGM on 29th April,RCP 2 will be saved or lost based on the kind of people we select for the committee,and it will all be a battle of proxy votes as usual.Proxy votes will make the difference
Be particularly wary of the MIC and Umno elements in the committee who were the ones in the first place who mooted this redevelopment idea,because they personally have vested interests,trying to dispose off their units to raise cash for other use such as helping to pay for relocating elsewhere.These are clueless people who dream of making a fast buck without thinking of its effect on others who wish to stay or keep their units for investment and are just monkeys who try to copycat others blindly just because of what they heard about RCP1.
Dont put your trust on the negative thinking and self destructing airheads who have no clue on the performance and life span of buildings.
They are silly enough to believe that we have Jonah the Whale living underground and ready to swallow up the buildings just because part of one block happens to sit on filled ground which is subsiding.Then like Chicken Little they tell people that the sky is falling down just because a few secondary columns in the corridors have been dented on the surface by clumsy people and that the buildings are going to crash on us,the first buildings to do so in Malaysia,where RC structures are designed with safety factors built in to last 60 years.Trust experts and experienced people not airheads.
Be ready also to put the lid on our own version of sleeperjack Pak Lah,the slum queen and the Pakistani ninja assassins,leaving the place in a state of neglect with broken doors,furniture and hardscape everywhere
and making the place an eyesore and leaving hazards to help bring down the property values and rentals and discouraging people from moving in.And mutilating and butchering the greenery with starving and ill treated plants like in Pakistan and making the place gloomy and dejected instead of brightening it up and bringing the place to life for residents.its like going to a party dressed in rags and unwashed and telling the world you are living in poverty and squalorand deliberately berating and disgracing oneself,small wonder values are going down.
We pay service charge to enjoy good service and maintenance,not asking them to work as property negotiators for Rampai Court Estate Agency and trying to sabotage the premises.
Reject their suggestion to empower them to negotiate with Developers to sell our apartments in a cheap sale and vote into power people who want to make the better place for the residents to stay in, not people conspiring to convince others to sell their units and drag them thru the mud to fit their own personal agenda.
Learn from the mistakes in RCP1 which is now left in a suspended state like a condemned prisoner on death row,all the result of stupid people,clueless leaders and sheer greed and ignorance. All the problems in RCP 1 were self inflicted and a sheer case of Chook Choong Yap Sifat by people who thought they were very clever but in fact were taken on a joy ride by shrewd businessmen.

This post has been edited by Rampai Court Resident: Apr 7 2018, 10:25 PM

To cut a long story short :

The purpose of a Management Corporation is to manage the upkeep and maintenance of the premises for the benefit of the people who pay and empower them to do so.
It is not the job of a Management Corporation to help unit owners to sell their properties at the highest price to whoever,otherwise we should form another committee called Rampai Court Brokerage and Real Estate services (where's my commission?) to do that.People in Desa Kudalari employ outside experts to do that.
Lets use common sense and not lose sight of our roles and responsibilities.

This post has been edited by Rampai Court Resident: Apr 7 2018, 12:33 PM

I JUST BOUGHT 1 UNIT FOR 220K. MARKET IS BAD.
MANY OWNERS ARE SELLING.