Dear all,

Good day!

I'm considering to move from my own condo at Selayang to somewhere near to bukit jalil in 1-2yrs time. Reasons: closer to work location, more education options around for my kid (from primary to uni), better job opportunities at this area for our field.

Currently looking at subsales nearby bukit serdang or seri kembangan, as in looking for low density low rise villa, townhouse for own stay. Hardly can find this concept anymore with new projects nearby, however if you know of any please feel free to advise.

My current plan is rent out current condo and buy another one.

However, my main concern currently is 2023 a good time to buy? Will the price continue to drop due to economy slow down?

I have shortlisted a few units where the asking price is sightly below owners nett purchased price 8 years back.

Considering that I don't have any financial concerns, should I proceed or continue to look see look see for better deals or lower price?

Thanks and happy near year!

“I have shortlisted a few units where the asking price is sightly below owners nett purchased price 8 years back.”
This is really mind-blowing and jialat.
It is an indicator of something?

TS why not looking at New Project?

This post has been edited by trainmaster: Jan 2 2023, 01:25 PM

If you are buying for own 'consumption', go ahead if you like the place and within your affordability.

The bad time was yesterday, good time today and uncertainty tomorrow.

Many will tell you there are plenty in the market and to take your time BUT those that you like are always limited in supply.

go ahead if you like it especially for own stay.

Hmm.. I have already surveyed quite a few projects, mostly the current asking price is like that, below owner's nett purchased price. Even my current condo also the same, owners are letting go at 5-10% below nett purchased price.

But most of the projects are mainly for own stay, not really for rental or investment purpose one la.

Yes true that, that's what I am thinking also. They always mention they are plenty in the market but is not easy to find many that really fits my requirements haha.

Just worry now may not be the best time to buy as property price may go further down? Haha since my planning is in 1-2yrs time, but if got good deal then I don't mind to buy it now..

In your condo, why are owners letting go at a loss?
Got anything fishy?

So far not really anything fishy. To me the condo is fine just that I would like change location.

Owners that I know they are letting go at lower price because they are desperate to sell it, but not was it sure due to financial problem or what. Also, there are 1-2 new projects nearby, whereby the price is almost similar to my condo, but much higher density and smaller sqft, the good thing is, zero down payment, attractive packages from developer. That's why my condo price cant sell too high, else, buyers would opt for new projects, less burden for upfront cash.

TS working at Bukit Jalil?

There is few new project at Puncak Jalil, its very close to Bukit Jalil. I have a condo there too, will be completed in 2nd quarter this year.

Im looking for subsale for this area too. But be careful with Puncak Jalil area, most of the houses were built by Talam Corporation, so u know the quality lah.

I think you and I we are quite similar. I am looking to buy another unit but holding off until I get a better price. Sure no one can guarantee prices will drop further but since a recession is pretty much confirmed, I think I'll wait to see if I can get another 20% discount. I'm in no hurry.

This has been happening for a few years now. I know a few people close to me in this situation. It is only going to get worse. Gone are the days where buy property guaranteed profit.

if you have no financial concern then just go ahead

every year also hope for property price to go down then the pigs can fly d

This is a reminder to everyone as to how weak the current market is beyond aspirational properties in areas people would like to upgrade to. You will most likely lose money unless you live in it or find some other utility so don’t call it an investment, it is a privilege.

It will become a more utilitarian form of investment or purchase where you buy what suits you at a given time if you can sell off your heavy bags.

This post has been edited by Cavatzu: Jan 2 2023, 07:40 PM

I would buy now, reasons:
1) age - hold 2 years meaning I would have to shorten loan tenure by 2 years or settle all my loan 2 years later etc.
2) inflation - not only inflation on property price but inflation on renovation costs. May find the best ever deal that save 20k in next 2 years but end up pay 50k more on renovation.

Puncak jalil houses really that bad huh? That location is actually quite good and once in my consideration list too. Affordable terrace subsales, any recommendation?

I am currently staying in a highrise and density like 900++ units, I don't think will be moving to another highrise again.

Exactly! Yes, I know no one can guarantee the price drop or up, but what I plan to do is to offer like 15-20% down from their asking price after I confirm which unit to buy. Since I am not in hurry too, so just offer and wait lo. Haha.

Ya that condition has been happening for years during MCO until now already

Hahaha, yea many told me the same, if own stay just go ahead, if investment then otherwise.


Thanks for the advice mate, yeah inflation on house price and renovation cost is no joke. Sigh.

Your plan to simply offer 15% below asking price wouldn't work if the asking price is already the market price. Anything 15% below market price would have taken by the seller's neighbours etc. Agent's close clients etc. before it comes to you and you would be wondering why it comes to you. Do a proper survey and understand the market price and your options then make a proper offer if you are serious.
For subsales, survey and ask the seller anything concern you for example if anyone killed himself in this unit, is there any known structural issues etc.

But so many list at their SPA price and hope against hope that someone will take it. There are certain locales where they have been devalued from their SPA price by up to 50% or even more. People hopefully are wary of this.

Even if miracles do happen, owner will not have the ability to dispose.

is your workplace location permanent though? own business? how sure are you that you wont change work few years down the road.

During my early days in KL, I lived in Cheras. Never like the place and couldnt see myself rooting there.

So decided to shift to a new locations which is much further from my working place. Initially, it was difficult trying to settle down but soon things were back to normal. Got a new job nearer my new home and the rest was history.

Never regretted the move and most important, the property prices also appreciated.

Conclusion ... is easier to change job than to change a property. As human, we are mobile and flexible, so moving around is no issue.

Those migrated are good examples.

Opps sorry, should be 5-8%, sorry for wrong calculation. 15% is a bit too much. LOL.
Ya currently surveying with one of the very helpful existing owner from the project.


True, if for newer projects and the young owner is taking 35yrs loan, that might be the case, similar to my current condo, if i sell at current market asking price, i need to top up 40-50k for loan outstanding, MOT, agent comm and etc.

Not own business, but for my wife, her potential workplace is mainly around that area, Bukit Jalil. For me, i am ok as my time is flexible, any location would do for me.

What i would like to have is shorter travelling time for my wife and education options for my son in future. My current location is quite bad and limited on this, got to admit i made a wrong decision for my first property. sigh. But good thing is, high rental demand here and the rate also acceptable. So, still can rent it out to lepas tangan.

People who bought in some place like Cyberjaya at the time when there were a few MNCs there are a good lesson.

.

Dont get confused with occupier and speculator.

Owner buy location to stay. Nearer to work places or amenities is just by the way

This post has been edited by mini orchard: Jan 3 2023, 10:02 AM

agree. that's why you should move based on you liking that area and the education options for your son maybe but definitely not for work reasons unless it's own business.

The agents will deny this to their grave. Like above, they say the moment the price is 15% discounted, it will be taken up quickly.

Now it is buyer's market. If you see a good deal, take it provided if you can afford it and it is for own stay. However you may want to hold off signing the SPA until the budget is announced and passed to see whether the government is giving some incentive like discount on stamp duty.

Any developement by Talam are bad, not just Puncak Jalil. I have 2 houses under Talam, another one i sold off already with very minimum profit. Now i live in landed, also by Talam. The landed here quite expensive IMO, single terrace with 3 rooms and 2 washrooms cost about 450k. If u ask me, definitely not worth it.

must be those early Yr 2000s Talam's Europlus Con, Metro Tegas development.
Any of the your 2 properties were saved by IJM then

This post has been edited by jojolicia: Jan 3 2023, 03:01 PM

Nope. I bought both subsale. The landed one, the previous owner told me that Talam was issued LAD, and to compensate that, they give every house owner free lifetime membership for Bukit Jalil golf club.

Buying property, location location location

When people buying a property, should location be priority at now a day?

I ever saw funny property seeker post (some thing like memes page)
Budget: RM500K
requirement:
1. Double Storey house
2. New Project (0% downpayment)
3. Puchong Subang PJ area
4. Must be freehold

If you are with this situation, how do you do?

1. swift to condo project?
2. swift to outskirt landed? as far the area can get freehold (seremban), or nearer but leasehold (kota wariasan salak tinggi)

Price, location, size (landed vs high rise). Pick 2 out of 3.

This post has been edited by Cavatzu: Oct 8 2023, 03:45 PM

TBH I think this kind of guy is those lazy kind of low baller. Never put in any effort to do market research, just want people to spoon-feed info. In the end if you spoon-fed him with info, end up he buy and lose money also your fault

Sounds like your typical Gen Z a few years into the work force who has lived in landed all their life with parents and have no idea about the real world. Now it’s time for them to move out and they reckon with their affordability that they can get something similar to what they are used to. Well let them have their rude shock or ignorantly buying in some ulu location.

For the latter mentioned will then suffer from daily commute but at least they learned the lesson. But some asked for PAMA foundation some more wanna brag

I’m so scared of those who take things as granted until they faced the real world and thought the world is “unfair” to them, then lash it out on the social media to ask for sympathy

To be fair, many of them who are not streetwise have parents and relatives chirping in their ear to get landed so it becomes a core belief.

Young people overseas are doing onlyfans to get into the property market so maybe there can be a guru for that.

This post has been edited by Cavatzu: Oct 8 2023, 06:23 PM

after 10 mths, wat is the conclusion?

if u guys notices the posts by AskarPerang on auction properties, quite many units are bidded up and transacted price will shock you...

i always seen auction properties price movement is a good indicator for our property market and also reflect buyers' appetite.

In a property transaction, bid winner will always stand out proud for winning the war.

In a subsale transaction, one is deemed a 'stupid buyer' for paying a higher price ... why so expensive one you buy ? I bought much cheaper. 🤣

As the Lelong price approaches subsale levels, then that’s healthy and it means that subsale market is validated. If the Lelong price is way below subsale then that’s the concern and warrants further investigation. But auction process is also subject to manipulation and emotional buying so look for a pattern before concluding anything.

This post has been edited by Cavatzu: Oct 9 2023, 01:29 PM

Since 2023, I've been on the lookout to invest in properties, and now in 2024, I'm more determined than ever. Your story resonates with me, especially the part about mobility and the flexibility humans have to adapt to new surroundings. In my search for a unique investment opportunity, I stumbled upon Hybernia Palace. It's a retail space located in Prague, right opposite the Municipal House, which is known for its Art Nouveau architecture. This property, a former monastery turned into a retail destination, offers a mix of historical charm and modern luxury, making it a compelling option for investors. With its prime location in a high-traffic area visited by 35 million people annually, I see it as a promising venture that combines the allure of architectural heritage with the dynamics of retail business.

This post has been edited by kev88: Feb 28 2024, 07:59 PM

2022/2023 is good time to buy new properties from developers.
2023/2024 is good to buy newly completed auction properties.
2025… price will getting higher and higher as compared to surrounding area for the same spec.

many will say chicken rice has increased from RM5 (year 2013) to RM8.50 (year 2023) so property price undervalue