I bought a Service Apartment in JB last year, and I found out that the market value of my unit is much more lower than the purchase price. I want to know is this normal or i did a mistake? What should I do?

Nothing to be worry. Property price will up and down.

Ppl dont really look at JB highrise. Just like u buy highrise or apartment in melaka, ppl from respective state will laugh at u

Since you already bought it, no point to fret over it. Make full use of it by either staying in or just renting out. If you are bleeding cash monthly and have no holding power, sell it before it drops further.

for stay or investment?

Yes, plan to rent it out first, perhaps just wait and see for another 5 to 10 years

Yeah if you can hold for another 5 to 10 years, should not be a problem. icemanfx correct me if I am wrong

see which location, some is good de.

BBB UUU..
2019 buy 600k.. 2022 can sell 900k, 2025 can sell 1.3mil, 2028 can sell 1.9mil,
2033 can sell 3mil, 2038 can sell 5mil.

TBH, i think it's quite common. usually sold to people who dont have much knowledge to the area. My dad even had a shop unit in a dying mall in job.

Wah bro, haven't seen your name for awhile. Used to buy phones from you when i was younger.
Not doing that business anymore?

from that hatten group? tampoi that one. i got friend fall into the trap too. grr never received, then heard upper floor all ban from going up also. and yes, he purchase upper floor.

I'm not familiar with this GRR concept. Is it listed black and white that this % will be given upon completion?

This is normal. Not only in JB but Klang Valley also.
That's why got developer dare to offer you free downpayment + offer cash back 20% for example.

Example, property XXX price 500k.
Meaning developer sell you at 500k only but able to mark up the price to 650k.
You loan 90% = 585k.
85k cash out, coz developer agreed to sell at 500k only.
So after project completion, of course the market value is not 650k but 500k only.

Is your case same like the above example?
Now wander how developer get the banks professional valuer to overvalue those properties?

And this is exactly why all those overprice projects fall into lelong market now. You are taking much higher value loan. Of course rental not able to cover and negative XXX amount monthly. Or use the cash out money to tahan the bleeding monthly hoping for the property value to increase after XX years.
cc: icemanfx

This is actually quite similar to what they do at Walmart. You purchase 50 dollars worth of item and they will ask if you want any cashback, say you do for 20 dollars, they will name your total purchase at 70 dollars. Basically this whole thing is just letting the developers to act as an ATM machine for credit cards.

It depends on how much spa is overvalued. The issue with many novice investors is sustaining negative cash flow for extended period of time.

Due to different finishing, etc, banks traditionally take developers price as market value. Hence, most if not all developers took advantage to overpriced to include grr, cash back, 10% loan margin, etc.

Understand some banks have engaged their own valuer on new launch and only offer loan based on their valuer's valuation.

Many novice buyers failed to realize the lesser amount paid upfront, the higher amount the loan repayment and over optimistic on their future income. Hence, many ended up in financial distress.

dont recall what's it called. But basically pump and dump

Bro u need some tramadol or diazepam, calm ur tits haha

My rule is
If i cannot pay at least 20% DP i wun buy

overvalue sumore. bank offer like 60% or 70% loan only. keep pump money in means time construction, after vp thought got grr cover the loan, who know all the way never received even first grr payment

not very sure, just can say my friend badluck and need tahan the loan or bankrupt.

even written black n white, i believe wont use main company name de, will use sub company, just mention hirer this company to manage or what what what. if problem come out, worst case sub company close down bankrupt. while main company still handsome profit without any problem.

grr almost always from third party.

Double posted

This post has been edited by icemanfx: May 3 2019, 02:48 PM

My understanding is that engaging developer panel bank as opposed to your own bank would yield different valuation reports. Probably the reason why the developers would only use panel legal team and panel bank?

So all this GRR could very well be BS -.- Few years ago, when I was hunting for my apartment, never even heard of this scheme before.

Some bank will only offer loan on certain developers project to their existing customers only.

Grr is in existence for many years. Like some said; there is sucker born every minute; there won't be a shortage of victims.

even property agent cant be trust. how to trust grr?

This post has been edited by leodinouknow: May 3 2019, 03:37 PM

Agent's income is from sales commission. They will do their utmost to convince buyers and due diligence is buyer's responsibility.

means you very long time didnt go JB liao.. JB now full of highrises especially near the bridges and its fully sold out.. these are expensive condos

Buyers of JB condos are main Singaporeans or Malaysia working and staying in Singapore.

First, the $1=RM3 exchange rate screwed their analaydis (cheap, cheap, they say). Next they assume the maintenanance level sama like condos in SG.

Lepas itu, they think of the units as weeekend home. Friday masuk JB, enjoy Saturday and Sunday. Sunday evening balik SG. But after 3-4 times, going through the bloody notorious immigrations on both side, starting to cross over lesser and lesser.

In he end, want to sell but potential buyers are people from SG, who rather buy new development.

So mana ada second market? 🤔

This post has been edited by David_77: May 3 2019, 04:10 PM

I thought JB highrise isn't doing that well. This is according to Iskandar declaring losses.

lucky u smart bro

Are you sure?? Even the R&F princess cove got more than a half of empty unit. The condo is a strategic location, consider to has a mall downstairs and a pedestrian bridge direct linked to the CIQ JB - SG

Truth to be told, I was more lucky than smart. Fund was earmarked for other stuff. Else, I’ll be one of the owners 😅

How about rentability and Airbnb potential?

Rental I’m not sure but don’t think will be good.

As for AirBnB, my cousin is doing it. She does not own the properties but acted as agent. Seems to be doing good. But I don’t know if it’s across board or because of the units in the locations she chooses.

That owner is one lucky fella. I remembered how the Iskandar Forest City, Danga Bay Area, and Desaru were overhyped. I think Mount Austin however is doing quite well. Not sure how hot is that area now.

Adrian wee say 10 yrs double up 1 time

ya mount austin last 5years ago is dead town. now? double up the value. maybe lot of chinese population at there suddenly

Just sell it n buy at kl... ROI faster n stop bleeding

Permas Jaya

This is the exact situation I'm facing

permas jaya is good location to rent out. lot malaysian work jb rent there.

problem is, where all the cash back? you finish spend?

People who never handle a large amount of cash are unlikely able to handle properly or prudently.

This post has been edited by icemanfx: May 4 2019, 01:07 PM

Of course I don't simply spend it, I use it to pay house installment and some furniture for the house

actually for renting out, you dont need spend 20k-30k for renovation and furniture. 3-5k solve it. i doing student market, my spend about 3k only with ikea item mostly.

should drop all cashback into installment to cut interest

Ya.This is so true. I almost bought a landed over the weekend as I found a lobang from mudah.my.
The unit the owner wanna sell 500k when the valaution is 700K.

I can cash out 200k from bank but the fees are a killer, which totaling 70k so u get 130k. RGPT is 20k btw which the seller wants you to bear. - Foreigner rates!
Rental is 1.5 ~2k only. Maintenance fee is RM365 permonth and the unit is abit old. The design is weird and you share your building with another owner. You get the top half while the other owner bottom half.
Its on strata title btw.

After doing the math, I decided to let it go as its negative income property and potential to capital gain is very very small.

HENG AR!!

This post has been edited by gld998: May 4 2019, 06:56 PM

Aiya the rental cannot cover la... recently I got offer to buy 450k for 6rooms with individual toilets in each rooms but must buy 2x units. The units are in Taman Century, beside KSL.
Not really Good deal as market rate for each room is RM550 x 6 = 3.3K but installment is 2.6k. Can cover but cannot really make money as utilities and air con included.

This post has been edited by gld998: May 4 2019, 06:54 PM

pls la.. got alot of empty units. R&F Dec 2018 i visited the showroom, 2/3 of units not yet sold finish. Mind you the showroom is still selling for the past 2years.
The tiongkok company holding power is strong!

I just rented an airbnb unit in country garden, Very poorly build unit. Ytd got dustbin rot smell, water pressure my pee also stronger.
Neighbor cook curry also can smell. Toilet got drainage issues. Sound proof is shiat!, some fellow cook and the noise of cooking also can hear.

The banker I took loan from laugh at me when I mention at R&F and Astaka. You go figure.

This post has been edited by gld998: May 4 2019, 06:50 PM

Great decision.

In my case, the property visited is at Horizon Hills. Super linked 2 storey. Valuation RM1.2, owner wanted RM1.1m.

Told wifey that I’ll buy if it’s RM800k. Wifey said I gila. Won’t get the price. So didn’t proceed nor make any counter offer.

But after 2 months, agent called back, said RM800k negotiable some more 🤣🤣🤣

But still didn’t buy cos fund earmarked for other things.

Nowadays JB and Penang share the same rates. Its dying. Last time I contact agent all boh cham me one, nowadays response damn goood!
This also means the market is bad. very bad.

My experiment was around 2015 around there. Since then, with all those developments in JB and talking to friends, I just give up JB.

Better buy KL.

Is that like a sort of townhouse? The maintenance fee of RM365 is about twice the amount a usual landed is paying (at least in the case of Kinrara Residence)

I was told by some of the Penang ex colleagues that the landed price on the island is appreciating at an enormous rate. To me, I felt that it has appreciated to a point where it’s saturated already. Batu Kawan on the other hand seems like the appreciation is still going well. The same goes to Sungai Petani and Kulim

I have a few units... now over saturated and I would avoid Batu Kawan, Sungai Petani and Kulim like plague. I used to stay in Kulim for a few years. Its a dead town.
Now also same when I go round round when I go back for Christmas. Affordability is an issue. Price high 90% cannot afford the installment.
Batu kawan, Sg Petani & Kulim meant for pekerja kilang la. mana mampu.
Someone is trying to push up the price by playing the market.

The houses is as far your eyes can see and its empty 40% depending on how deep you are away from the main road.

Ask your ex colleague to selll at market price and see got offers or not
Some of units in Penang mainland and Kulim on sale for few years cannot sale unless I bring it down to at least 30% market price.
If they wanna buy also, loan very hard to approve as its not affordable.

Ask them what is rental rate? I believe its between 400 ~ 700 for 400k hse. The math dont add up.

This post has been edited by gld998: May 4 2019, 08:05 PM

Yes and no as its build on a slop. Just google pinggiran bayou Leisure Farm.



The two storey is a unit, while below slop ground unit is another unit by itself.

Ehhh I thought the growth of Kulim was propelled by the new plants like Intel, First Solar, Infineon etc. and as for Sungai Petani, some Penangites are starting to move towards that area.

My ex colleagues bought the Mah Sing landed properties in Batu Maung at around 800k ish during launch? I think it has appreciated by 50% to date. But whether sellable or not I’m not sure.

Do they have access to the upper floor? This is the first time I see a development like this. It does feel like a townhouse. My assumption is that the upper floor unit would be slightly more expensive?

U know alot of kilang move out rite. Penang is not cheap anymore. There is not much industry to support it. All just tahan only. My old folks is still in Penang .
Alot of my ex colleagues have move out of Penang and gone to KL cari makan.

Have you been to Kulim? Go visit its Kulim Hi Tech Park. You can see alot of vacant factory for sale.


Nope no access. No sure whether more expensive or not. Didn't research further as the math dont add up. I think got 1x unit kena lelong at 380k in 2018.

This post has been edited by gld998: May 4 2019, 08:17 PM

Property price is probably the most opaque among all investment assets; there could be substantial price difference between spa, net, asking, valuation, transacted and auction price.

Hi, guys...I know this will sound like a stupid question, but thought of asking anyway, lol...

Is there a benchmark for pricing per sqft that you have in mind on what's considered high or low, based on areas...for eg., for KL city, 1k/sqft will make you go "wah, so reasonable", or is 1k/sqft in our current buyer's market now considered high?

I'm just trying to gauge and I know it depends on location. So if anyone has any thoughts to share, it'll be good to hear. I'll start by saying anything not in KL city centre that sells for above 1k/sqft condos is very expensive, unless it's in elite neighborhoods.

assuming all investments are scam, in forex scam, will go from 100 to zero faster than you can click.

therefore it is better to invest in properties, no? at least in properties, masih ada chance to get out with something, since you kept repeating this like a broken record "Property price is probably the most opaque..."

so your scam proposal on forex and money games and shares is more risky leh.

I challenge you to show us one post that i promote forex trading and money game as investment.

property is highly leverage; leverage amplify profits as well as losses.

This post has been edited by icemanfx: May 5 2019, 12:07 AM

you keep going on and on about other investments that brings better returns. you terasa with the forex, money game? ok, how about shares?

options give you 4 to 1 dollar. highly leverage too. also forex/money game. not you lah but the one that terasa.

Don't put your words in my mouth; i challenge you show us one post that i promote leveraged investment.

property investment is not newly invented or discovered. if property investment is attractive; every da ma, kopitiam unkers are already multi-properties landlords.

the fact remain, property is not the only investment opportunity available.


This post has been edited by icemanfx: May 5 2019, 12:48 AM

aiyoh! why you so terasa? i quote my statement "you keep going on and on about other investments that brings better returns. you terasa with the forex, money game? ok, how about shares?

options give you 4 to 1 dollar. highly leverage too. also forex/money game. not you lah but the one that terasa."

see? i already said not you lah but the one that terasa mah. aunty so sensitive today

who's arguing that popoties is the only investment? you set up a straw man, then beat the dead horse again and again. ok ok, jangan terasa if you did not do it hor.

after all, forex/mony game is your expertise no? or is it not?

This post has been edited by David_77: May 5 2019, 01:12 AM

Herd members are easily influenced by fellow herd member; you are undoubtedly one.

I am just a economic student, not expert in any investment.

If gomen to build affordable home as planned, overhang will likely widen in subsale. Knowing supply>demand for long, how could price rise? If neither rental or price could rise, why bother to invest?

This post has been edited by icemanfx: May 5 2019, 06:07 AM

I calculate based on rental can cover installment after 30% downpayment and not price for sqft. You can buy 3mil property but rental is 1.7k per month when your installment is 9.5k with 30% down.

You also can get pr1ma lelong hse for 150k then rentout for RM900 where you installment is RM700. If some bugger ask for RM850 u can still rent it out for RM850.

Sure not not you promote forex scam/money game 😉 (ssshh... I won’t tell on you).

Calm your panties down.

I challenge you to show one post that I promote forex trading or money game.

Classic of herd member, the moment lost a debate; start to name calling. Your aggressive manner could mean you couldn't afford to lose and under enormous financial stress.

This post has been edited by icemanfx: May 5 2019, 10:04 AM

Aunty, calm your panties down. Already say you *are* not scammer, be it forex, options, share, money game liao.

Gosh, really hit something there, don’t I?

Repeat after me ‘I, icemanfx, must calm my panties down’. Then breath 3 times.

Happy Sunday 😉

ehhh? leisure farm? is this the one i show you last time? yaya very fishy as lelong hit almost 50% below market.

well the house look nice if is double storey house, townhouse sharing then is no no

yup. I did a site visit 2 days back. Leisure Farm got alot of type of property. I go look look see see lor, everyday go shopping mall also sian rite.
If the unit is a banglow unit confirm I sapu at RM500k.

This post has been edited by gld998: May 5 2019, 10:44 AM

You could buy up 4 units to become a bungalow.

The world is greater than the kampung, suggest you come out of your coconut shell to look see.

for reasons, only about 3% of adults in this country have over us$100k net worth.


This post has been edited by icemanfx: May 5 2019, 10:55 AM

bojio me go see see together

lol... i remember you say no more bullet? so fast can sapu 500k😅

I know. But if I can make money in Malaysia, tak payah susah-susah cari diluar negara. I’m a simple man.

Forex/money game scammer (p/s: not not you ar. jangan terasa, unless...) loves to entice people with high high returns.

Noted world is bigger than kampung. Sekian. (all must remember to tukar seluar dalam 😉)

I am the one that terasa la. Anyway please be careful of the monkeys telling all the fake stories. Everyday i need to fight fire, because these devils starting fires everywhere. It sounds funny but it is not. This type of harrassment is very serious. Dont be one of the conned people.

I do not encourage forex trading, i do not encourage money games. I also do not encourage ppl to trade shares. Although i do it myself, its not cut out for most.

This post has been edited by flight: May 5 2019, 11:09 AM

So? You terasa, you terasa. Apa hal kait with me? 🤔

Usually hor, orang yang niat buruk yang terasa. Bukan cakap you hor. Jangan terasa sangat.

But then, if you terasa also bukan pasal saya. Just saying lah.

Hmm, so you're approaching based on investment perspective. Or rather affordability.

One of the ways is also to survey surroundings and see what's the average pricing per sqft as well to get a good gauge.

Property is long term investment similar to endowment with a chance of appreciation of capital gain once your property value goes up.
If cannot afford how to buy? You stuck with a 30yrs loan. The average pricing psf is useless if there is no money to be made or cause u
to lose money.

The one with niat buruk is these ppl. Its no joke man. U imagine ppl just take all sorts of private photoes and information and use it to turn ur life upside down. Then tell other ppl u have niat buruk. Its just a lot of evil ppl.

It’s ok bro. Said before, it’s open forum. All views are welcome. Not to say can be stop lah, except yang terasa. Will run to admin soon.

There were so many past fake news exposed, the new nonsense is the same thing. Fake.

This post has been edited by flight: May 5 2019, 04:48 PM

You guys do know this is a not a kopitiam thread right? So lets not deviate from the topic or you risk this thread being moved to K

Seriously what is there to discuss? This topic has been discussed as nauseam at one point or another. Same set of property market data, two opposing views.

One group uses it to support why must buy. Another group uses it to support why must not buy.

Sub-groups for buy - yes but not now. Another - yes and now.

Sub-groups for not buy - never buy. Another - not now but keep watching.

Then you have the forex, money game, shares promoters jumping in their panties.

So kinda useless thread.

Got abit of bullet la. Not buying in the end, settle all outstanding loans 1st then buy again if not too old.

You can choose not to read or reply to this thread.

This post has been edited by TOMEI-R: May 5 2019, 09:17 PM

I know but I still choose to reply. No worries 😉

relak la... panties cannot jump one..

I’m relax boss.

But I like reading your comments. Give me some insights.

Panties marah-marah. Don’t know why but think terasa 🤣🤣🤣

Property overhang in subsale is believed to be 3 times or more of primary market. With more supply coming, it will take longer than most expected to reduce this overhang. Until overhang is reduced substantially, price will remain suppressed.

Rental is a lead indicator of property. Given rental is on downtrend, price will follow.

This post has been edited by icemanfx: May 5 2019, 09:39 PM

TOMEI-R, ad nauseam.

Also, money game scammer/forex/shares in play 🤔