I have been looking at some condos in Bangsar (Sri Penaga, Casa Vista, Bangsar Puteri and Tivoli) and the agents tell me prices are now about 20% lower than what they were 18 months ago.

My wife also has 2 apartments in MK and they (i feel) also have come down about 20% (compared to before) looking at the prices sellers are asking in iproperty.

This post has been edited by Garysydney: Jul 20 2019, 03:37 PM

No - she paid off both units recently so has no borrowings now. She is getting slightly more than rm6k/mth (nett) from both apartments so she is quite happy.

I have been keeping an eye on Bangsar and MK condos lately and have been inspecting properties the last time i was back in KL (April/May) and will probably check a few more when i go back next month. I am particularly interested in Sri Penaga and Casa Vista (as well as Cascadium) but a lot of sellers are still holding onto the prices that are quite unrealistic in this market. I also had a look at a 2 storey terrace in Bangsar Baru (Jln Terasek) which was a basic unit - they wanted rm1.6m and the agent told me that a couple of years ago, this place would have sold around rm1.85mil. The house is still in pretty good condition but very basic.

This post has been edited by Garysydney: Jul 21 2019, 06:34 AM

Actually i have revealed too much of myself in that thread - i sometimes think whether i should have!!

This post has been edited by Garysydney: Jul 21 2019, 05:18 AM

My brother-in-law lives in Taman Desa (double storey link) and he tells me that properties there used to go for rm1.2m-rm1.3m but have dropped to just over the million mark (basic unit) recently. Renovated ones fetch a bit more.

Yes - a lot of Bangsar condos are quite old now. I like Sri Wangsaria but that block is tightly held and sellers are unwilling to drop much. You can only get bargains from sellers who are desperate to sell and it usually is because they are migrating. The rentals are miserable though in Bangsar - if you spend rm1mil to buy, you will probably get around rm3k/mth rental at best (gross) fully-furnished. When you compare that with Tiffani in MK, a 1mil condo there will roughly gross you about rm5k/mth. This makes me more inclined to buy in MK and the 2 buildings i like is Kiaraville and Tiffani (as i might rent it out if my plans to retire in KL doesn't work out).

Actually no need to worry -lah. This world has a lot of different types of people and we are using social media so you will see all sorts of response.

As long as this thread is allowed to continue, we just carry on (like nothing has happened).

I have seen one thread that i was communicating in Properties and then the next day it was moved to Properties Q&A (under Properties). I was looking for that thread and couldn't find it - finally found it under Properties Q&A. Maybe someone felt that your thread should be in that sub-group under Properties as you are asking a question.

I have considered Nadi but i tend to stay away from leasehold. From memory, Bayu Angkasa is also leasehold which probably explains why it seems a lot cheaper than comparable units in that area.

This post has been edited by Garysydney: Jul 24 2019, 07:53 AM

Sorry - my mistake. I mistook Nadi for Gaya. Somehow I keep thinking Bayu Angkasa is leasehold as it was one of the blocks that I was keen on inspecting.

Thank you very much - I am 57 at the moment and my wife and I have no kids so there should be no problems with future land title complications.

My sister and i inherited a 2-storey terrace from our mum (Jln Terasek in Bangsar) and i like the place very much. However, my 70 year old sister (not married) also lives there and my wife doesn't like living with my sister (woman very hard to please!) even though i got 3 empty rooms so i need to buy another place for my wife. I prefer not to touch my super (epf) as it gives me a very good passive income - an alternative is we live in the 3+1 room condo (which belongs to my wife) and i subsidize her for the rental. My wife and i keep our finances separately so i don't exactly know how much money she has (she tends to hide things from me) but she knows exactly how much i have. I don't believe in trying to hide things from her.

I am going back to Kl again next week for 7 weeks as i am trying to use up my long service leave so i will probably go see a few more properties. In Apr/May when i went back to KL, I saw a 2-bedrm unit in Sri Penaga (asking 1mil) which i quite like and also saw a couple in Tivoli (a little run down but very cheap). I was supposed to see a couple more units in Casa Vista and Cascadium but i ran out of time as i was only in KL for 6 weeks then.

This post has been edited by Garysydney: Jul 25 2019, 04:51 AM

He was replying to my post about buying a 2-stry terrace in Bangsar Baru as i was thinking of buying a terrace house instead of a condo as the appreciation (price-wise) for landed properties are higher than for condos. However, i prefer leaving my money in Aust in my super (epf) as the returns have been very good! Also if i have a change of plans and decide that KL is not suitable for me and decide to come back to live in Aust, moving money back to Aust can be very difficult. My wife had so many problems when she sent about A$200k+ recently and BNM asked her so many questions about where the money was from and she had to provide documentary evidence. We were not very happy as we had to keep going back to the bank to provide the evidence. I think BNM wanted to see if the money was legit.

This post has been edited by Garysydney: Jul 25 2019, 05:03 AM

We have to take into consideration the time when the unit is empty (that is without a tenant). I estimate from my wife's properties (over a period of 10 years), it was empty 15% of the time (close to 2 months per year) - this high percentage could also be due to us not physically being in KL (as we live overseas) and so agents take their time doing things. As it is getting harder to get tenants (due to oversupply of rental properties), i estimate the vacant percentage rate will increase over the foreseeable future. This vacant period will eat into our percentage yield.

This post has been edited by Garysydney: Jul 26 2019, 05:45 AM

Yes - i am near the horseshoe. I prefer to live in the terrace but my other half is not happy living with my sister and prefers us to live somewhere else. Women are very hard to please!! When i am in KL, i go for morning walks and like the Bangsar area very much (love the wet market esp the tau foo fah). This is the type of life i would prefer - in Sydney it is comparably more quiet and lonely even though i have a lot of friends.

This post has been edited by Garysydney: Jul 27 2019, 01:49 AM

We get a special rate when we send more than rm100k back to KL (telegraphic transfer) but we have to show evidence of where the money came from (directive from BNM). We can get the documentation but having to go back to the bank a couple of times can be quite testing. Money changer at mid-valley gives the best exchange rates (even better than the special rate from the bank) but we can only carry about A$40k (2 of us) otherwise the notes become too bulky.

This post has been edited by Garysydney: Jul 27 2019, 01:56 AM

I suspect they want to catch those with 'black money'. We showed them documentation that it was my wife's super (epf) and also a statement from the superfund that paid the benefit and they were happy with that. When sending big amounts of money, the only way is to send using telegraphic transfer (using banks). I checked with a few 'money-transfer' companies and they wouldn't do more than A$20k per transaction - this means if you want to send A$200k, you will have to do 10 transactions and you wouldn't be entitled to a special rate.