What is your concern ? Noise from your neigbour project ?

thanks mate i just did

i signed a snp about 1 year ago so far from what i see they are still doing the underground work.. just curious is this the normal pace of a construction phase

This post has been edited by iOrange: Nov 7 2020, 06:18 PM

There are many reasons why they are still stuck there and we as buyers are in no privilege to know as long the project is not due for vp.

If they are still working on the site, it should be consider WIP. Nevertheless, is good to monitor the progress.

I will guess you only paid the 10% and there is no further money disbursement yet for progress work.

This post has been edited by mini orchard: Nov 7 2020, 07:54 PM

Normally for 40 floors the project should be more than 400 units right? I think I’m your SPA it should stated the construction period is 48 months? Or 36 months at least?

True.. since it’s progressive payment, then it shouldn’t be a big issue. As long as they don’t run away.

I guess not strictly a property related question, but thought I’d try.

I started my sole proprietor business Feb 2019, and I have filed my first form B tax return this year for YA 2019, and I have my business P&L. How many years of business account history do banks typically want to see before they feel they’re confident in your ability to service your loan?

This post has been edited by KingArthurVI: Nov 8 2020, 11:32 PM

For sole proprietor, it will take at least 3 years as bank would require you to provide 2 years income tax statement. But of cos, if you have other source of income beside your business, eg a full time paid job, then you can also try to approach banker and try

Ah crap then I'm fresh out of luck. I don't have other source of income, but my income has been pretty consistent since incorporation of my business in Feb 2019. Last resort would be to ask my parents to put their name on the loan application also, but I'll be the one repaying in full. Does that usually work?

Thanks for the info

If you have consistent income, then you can always try your luck with the bank your company having account with. Bank being bank... they loves to offer financial assistance to those with good track records, you can always give it a shot.

As for adding your parents name to the loan, if they are still working or having active income, why not?

Call your banker and talk to them if based on your current business income, can they offer you a mortgage facility,

Hi, recently I have visited a project by Ideal Property Group : Queens waterfront. Anyone here know about this developer and their review please?

Hi... not from Penang but here's some insights on the project

https://www.penangpropertytalk.com/2016/01/...ont-residences/

this was posted back in 2016 so you can have a look at the comment back then. But I would suggest to ask the locals about the project.

Developer background should be strong based on the amount of write ups all these years.
For location, it's best to check google earth on the surrounding as well as the people near to the area.
Check out what are the negative comments. Some people very critical in complaining about the project which turn out to be a good thing for new investors. For example, some locals will complain on how expensive compared to what they own now, but it's a good sign that price is increasing, if there's a good reason to it.

Hope this help.

Question:
1) How to evaluate how much will my property worth in the future, let's say in 35 years or so?
2) How do I find out how much or the benchmark my property can rent out and what are the rental price around my surrounding area?
3) Is there a website to see those benchmark other than asking the bank or survey the area?

Thank you in advance

Hope this help

Yes it does! Thank you.

"Your best option are to check with your trusted REN/REA on the recent transactions or via online property portals to get an estimation of the asking price. Alternatively, you can also check in NAPIC website for the report of the last half year report. Now the H1 2020 is available for download."


But what if it's a new or on going development? I planned to invest in a new develop condo. But not sure if is worth the investment, because I don't know how much is the rental price in the surrounding area. So what can I do?

*by the way, it's my first investment..

Hi Folks, just wondering what's a strategy for a young person buying their first property.

Mid 20s, income around 5.3k nett. Joint income with gf around 8k nett

Should I get landed outskirt like semenyih and puchong (40km away from KL) or get a condo near KL? This is for own stay as I want to marry and move in with my gf

Having a dilemma on which one to go for....

Hope to get your advise, thanks..

This post has been edited by Oklahoma: Nov 27 2020, 08:54 PM

Unfortunately, we do not have much information for developer's project except for the unsold units or overhang units. your best option is to check with REDHA for west malaysia, SEDHA for Sarawak or SHAREDA for Sabah.

Check out the blacklisted developers too to avoid any regrets.

Unless you are sure she is the one, else, do take into consideration on how to manage the properties in case there are changes in the relationship. A lot of people overlook this matter and face a lot of problems after that.

If everything ok, then your next question on landed in the outskirt of KL or condo near KL.

Based on experience, the best one I can share is speak and talk and discuss with your other half instead of asking in a forum. Not being skeptical but you and her will be the one staying and outsiders shouldn't give too much opionions.

You can take into consideration of these few pointers.

1. Both your current workplace - is it feasible for you to travel far for work everyday?
2. Both parent's home - distance especially when you both have kids, are the elderly going to help you out or you getting babysitter?
3. Lifestyle - living outskirt means you both might have to adjust your current lifestyle
4. Preferences - living on landed or living in high rise
5. hobbies - some hobbies required more land and personal space
6. others to be discussed with your gf .. some minor minor stuff but will be a deal breaker.

Hope this helps.

Hey Yeoh, thanks for opening this topic and guiding us new to this! I have three questions for you:

1. Can you explain to me the process for buying a new landed development house? I've read some PropertyGuru articles on this and the confusion for me is where I (or my lawyer) would have to issue out a letter to state my purchasing the house. Is this still required for new developments?

2. Is the HOC campaign until May 31st 2021 or 2025? I have read somewhere that Stamp Duty is exempted until 2025, is that true or am I missing something?

3. Any recommended agency/lawyers for first-time house buyers? Perhaps those that are more... patient hahah