I seldom posted in this section of LYN, but to answer you question, yes, you can easily find a good deal today compared to 2016 & 2018.

I have been monitoring the price of landed property in the area I’m staying now (Shah Alam) since 2015, and from my own price monitoring, the landed property in Shah Alam peaked in 2016.

I just bought my first house (and probably last because I bought for my own stay) last year at 720k. It is a double storey house with 2300sqft built up with land size of 22x75, newly completed (I bought one of the final few units 1 months before VP). As comparison, the houses in that area with land size of 22x75 with built up of 2000sqft was selling at 750k in 2016, with lower quality finishing. The same type unit was last transacted at 580k in 2019, but still the owner made a hefty profit considering it was sold by developer at 320k in 2010. But he made a paper loss of almost 170k as compared to if he were to sell his house in 2016. Currently the asking price is around 630-650k, but most likely you can still lowball the seller to 600k.

So yeah, you can pretty much find a good deal today compared to 2016. But my findings are just limited to Shah Alam.

This post has been edited by blanket84: May 7 2020, 12:32 AM

Surprisingly not many listing for the old unit that I mentioned compared to last year. Most likely people who bought to sell/rent already disposed their unit rather than waiting for the price to go back to 2016 price since developer was selling brand new house will bigger built up at lower price since 2017. And occupancy in the older phase is around 95% (you can find 4-5 vacant units only in 100++ area of one phase. Plenty of vacant units for newer phase (and bigger unit 24x80, around 40% vacant) completed in 2018, but not many people advertised them online, you can see the “for sale” banner hanging at the gate, not online though.

In the phase I bought, plenty of “for sale” banner on the gate (around 15-20 units), but only 2 units could be found online. Maybe they only interested to entertain serious buyer who would probably drive around the area if they were interested. Buy I don’t think it would be easy to dispose at their asking price (780k-850k), when the developer is currently selling units with similar layout but better finishes at 780k. I think people would wait for the two years construction rather than paying the asking price

And it is individual title, but mostly fenced & guarded as the developer was clever enough to lay out the units in such way there would only be maximum 2 entries to each phase. And for my phase, the developer was kind enough to provide fencing & guard post together with access card system and barrier gate for free (most likely to attract new buyer since next phase is sharing the same access road).

This post has been edited by blanket84: May 7 2020, 01:25 AM

500k-320k=RM180k. Still profit to the seller.

Well I guess I am just lucky that in the area of my choice, the developer keep adding value to newer phases instead of cutting. I guess maybe the demand in that area isn’t as much in areas that you are looking at, hence they have to do something to attract buyers.

With your income you can easily afford a 700k house if you want, you can dispose some of your other houses if you want to be safe.

Location is Seksyen U12. It’s more towards real Shah Alam not some some far far away places with Shah Alam address.

I don't see bank increasing the spread. People are still getting 3.15-3.3 which is the same net as people taking loan before the consecutive drops.

Why lower?

I don't understand the part where you said because right now the rate other people getting is the same, it means that spread has increased

Shouldn't it be the same mathematically? If the spread has increased, BR+Spread should be higher, no?

Yes. I do understand that BR doesn't necessarily drop according to OPR drop. But BR for a single bank would be the same across the board for all right? So, if an old client of a bank is paying 3.2% interest, and the new client also being offered 3.2%, shouldn't it mean that for both of them BR+spread is the same?