Hi as per topic, would like to ask opinion of fellow forumers & friends.

Currently at age of 36, owning a condo/serviced apartment in KL. Thinking of Malaysia future prospect, considering working in Singapore.

I would like to ask should i let go & sell my property now? As i observed the current market seems to be volatile & uncertain, making it a little bit hard to make decision.

While our ringgit seems most likely will further depreciate next year 2024, it seems like not a good choice to sell now. But here comes my concern, do any fellow forumers think our property like condo/serviced apartment gonna be very horrible state next year?

Thanks for reading, all advice will be highly appreciated.

I only know current rental market in KV is extremely hot and most landlords in KV are increasing their rent for existing tenants.

ya that is what i noticed as well, despite selling price seems quite stagnant & not much increment, but i noticed rental probably up by rough estimated at 20-25%, not sure though where is the demand coming from

If we can predict that easily we'd all be millionaires 💰

But for a more serious answer, if you're planning to move in the near future your main considerations are as follows:

1) Are you in desperate need of cash right now? (if yes, better to sell early to prevent risk of value drop)

2) Have you already secured a job in Singapore? (If yes, get sale done before you move is more convenient than trying to finalize sales when you're overseas)

3) Do you have enough cash flow to rent a unit/room for your own stay before you move to Singapore, if you sell your property? (Consider the cost of living with the home you own vs without it)

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If you have major relocation plans that involve completely leaving your current home, it's only worthwhile to hold onto the property and wait for value to rise IF you have the money and patience to keep the home in saleable condition for potential buyers. Neglected property will be hard to sell and eventually lose value.

My personal opinion and observation is that

1) High rise is an intensely competitive market, and values might not rise much if at all, especially if your property is outside of "affordable home" range. Government policies will only pump in more high rises into the market and KL as an area is already a dense and mature market, so you're not going to see enough speculation that will drive up resale value unless government somehow manage to really make people less worried about cost of living and feel more secure to buy housing.

2) Wear and tear of high rise strata living will eventually catch up and lower the value of the property.

3) Strata living = having to pay maintenance fees, and you cannot recoup this amount through the property value, so the longer you leave the property unused, the more you'll be bleeding money through the maintenance fees.

This post has been edited by DragonReine: Nov 25 2023, 11:47 AM

i know my condo price gone up since last year, some said property bulling next year, since already 10years stagnant, all the figure pointing to that booming next year.

yeah since it just recovery from MCO, not only that, during MCO 2 year, all those graduated university students are employed and required rental in KL city area. That why you can see the rental market is hot now, if your condo/service apartment at a strategy location, keeping for rental is a good exist plan.

very very detailed & insightful post, i really appreciate your effort & kindness in patiently analyzing the pros & cons for me here

ya, definitely overflux of affordable housing like rumahwip, rumahselangorku & etc etc poorly performed sub sale project will be a tickling timebomb to the current market.

the current market is quite contradicting as well, as on one hand u see piles of lelong high rises here & there, at also same time u see rental market jacked up.

my main reason of thinking of shifting to singapore is mainly due to weakening currency concern, still have not tender my resignation at the moment, i hope not to make hasty decision & put myself in trouble & regret.

your opinion is so helpful, i will be carefully reading it, thank you so much god bless u

jb for sure booming due to increasing ppl travelling across border to singapore due to hike of singapore rental?

if kl area also booming the only reason i can think is weakening currency, ppl prefer not to keep savings as depreciation & fd cannot save the degree of depreciation

awesome bro, but lets hope the rental market wont be toxic like hong kong caged home & singapore incredibly expensive rate, there is an extend to earn money definitely not cool to build profit on top of others misery

Lelong alot + Rental market price seems increasing doesnt really have direct correlation...

Lelong because of the owner personal financial issue.....compressed loan with hundred k++cash back and YOLO all spent, or bought overpriced property whereby current market rental unable to cope, business failure cash flow tight, personal issue such as bf gf break up, divorce, and etc etc....

Rental market price increasing only 1 reason, demand is increasing....because ppl are saying market oversupply, overhang, so cant be supply reduce right? haha (actually supply reduce is possible too where more ppl bought for own stay, or weekend home by T20, or T1 just let it empty brand new condition)....

Affordable home is never meant as a investment tools.....Price is capped even in subsale in future, for rental wise it has it own target market, it would not directly clash with the normal condo/service apartment target renter.

sifu, nice point of view!! ur point makes sense

i got to be honest, indeed sometimes lelong is giving me cold & chill in the spine, end up sometimes really in fear

indeed rental is different segment as u factor in many things like rental to repayment ratio, the positive about mine property is that the rental is close to cover my monthly installment, i may need to top up couple hundreds for principal & maintenance fees, 23++ years to go for my mortgage

oh, so they set a ceilling price for reselling value of rumahwip, rumahselangorku? I thought only refrain from selling for the first 5/10 years depending on project. Wow, this is something new i learnt. Thanks bro.

Also you are 36, planning to stay single or married? If single ok, but if you plan to marry soon, hard to move around

It won’t bull . Wanna bet?

The percapita income has to go up for it to bull .

A lot of properties are got price but no market. Bank can value very high but not enough rich people to rent / buy also no use. It all depends on Malaysia's economy in the coming years, if everyone's salary still maintain (or worsen), don't expect property prices to rise too

What I know...

My condo in somewhere in KV (privacy reasons - don't want state which project &location)

From 400k to now 1mil already 💰🔥

economy still stronk, mana ada weak?

Keep it as rental income unless u need cash now.
The most is u will get a PR in SG so why want to sell now.

single

ya definitely hard with kids schooling problem, not easy to be a parent nowadays

the word "bull" seems a bit obscure, very hard to define how much of a growth is bull since our currency going weak, i would see the increment of property value was there to counter our weakening currency..........

it is a norm nowadays for property to be transacted below market value......

rental wise i think well located condo high rise with good amenities should be no problem renting out, but suburb area property probably very luck dependent unless is like dirt cheap rental

wait a moment, is that for real?

suddenly i feel so bad for buyers of tropicana residence if your condo able to fetch that value, probably timing of purchase also an important factor

One can argue to sell and keep it in fd sgd is better than keeping it as a house to get rental income in myr, due to weakening of myr vs sgd

Moving to Singapore is a major lifestyle change la (much more competitive and cutthroat), and unless you have super unique skills that can compete in the SG job market, bear in mind that Singaporeans tend to treat Malaysians as second class citizens, same like Malaysian employers tend to treat Indonesians. So even earning in SG if it's not high enough to match SG's cost of living, you're not actually earning much (and SG is notoriously one of the most expensive rental markets in the world).

Some suggested that the market value of properties have gone up, but higher market value doesn't necessarily mean there are many ready buyers in the market, and there's an odd trend now where asking rent and prices are going up, but buyer and renter interest is going down unless you're in places now where population is undergoing rapid growth (Johor is a good example right now).

If your property is NOT an affordable home (which has cap on pricing) and is in a strategic location (near active business areas, good connectivity), there's certainly not much harm waiting unless you're debt laden and require cash, since the value should hold decently if location is good.

A conservative but "sure" strategy would be to sell ASAP and downsize to stay in a cheaper location/room/unit where the monthly rent+utilities is cheaper than the cost of serving instalment and maintenance of your current house. That way you get money in your bank account to prepare for moving, and you also lower your monthly commitment, enabling you to save more to move. At your current age, you need to start to seriously consider costs of healthcare (SG healthcare also not cheap) and retirement, so make sure you're well insured and you have already a decent retirement savings.

The park residence bangsar South is one of the good example project that price increase a lot.

It's all about the booster to boost a property value. So the problem is, where is the most develop area in klang valley now can happen miracle again like bangsar South.

But if you have budget, investing at desa park city 200% can't going wrong.

In the contrary, dpc transacted price hardly move in the last decade.

Yeah agreed, but instead of invest at other area that have risk the price will drop (due to density & auction etc)

Even dpc hardly move, but at least is hardly drop. So can save the money value.

Condo = no solar

+ condo aged very bad in malaysia.

very bad