i'm seriously considering a unit in mont kiara, maybe changkat view and the likes.. it seems like when u drive in the late evening after work, not many lights are up, if look at high end condos (very subjective i know maybe owners still working late) but it seems the price dont seem to go any lower. is it due to speculation? or is the price at market rate?

i've read somewhere mont kiara was meant to be an expat hub (the reason for the high market value) but then after the recent economy downturn, many overseas company downsized and expats pulled back from malaysia, so i guess the question would be is the units bought for investment giving any returns?

i am not aware of any units which are going on auction so i'm not sure of the actual condition.

appreciate to get any pointers on above. is it good to buy now or any chance price will drop soon?

planning to buy the unit for own stay since me and wife both working at hartamas. still a noob in this property thing so scared to make the wrong decision. any kind of advice is much appreciated.

Im not sure what your budget is but you must ensure that u are not buying a property at inflated prices above the norm. Areas like Mont Kiara and KLCC are very volotile areas. When the economy is good, prices rise but the moment there's a downturn, these areas are among the first affected. Areas which are tenant based are always volotile. Only areas which are mostly owner occupied are stable.

Since ure looking for a property to stay, why not choose an area which has got a good environment with everything close by? TTDI is a good place. Its only a short distance from Hartamas and yet has all the amenities you would need. Kiara Park Condo although is 17 yrs old but is a well maintained homely place with alot of grenary and a good mix of owners and expats. It has a very friendly atmosphere and many ppl staying there know each other by name which is rare for condo living in KL.

Staying close to your working place is only 1 aspect of your decision making. More importantly is the environment after your work ends. Working in KL is hectic and stressful which makes your home very important to de-stress and relax.

Prices of property in TTDI have been upward moving since its start in the 90's. Its a mature and stable area and will continue to be a place of choice for many years to come. Take a slow drive around TTDI over the weekend. Have a few meals here. Visit the 3 large parks we have. And then visit Kiara Park condo and then decide if that is what you and your wife would want.

I am not a sales agent in case ure wondering. Just someone who spent 6 months carefully evaluating properties in many areas of Klang Valley before finally deciding to settle down in TTDI last year. To date, i have not regretted my decision in any way. My property has appreciated by about 40% since i bought it last year. But most importantly, the homely atmosphere and the vast amount of grenary are surely a great reason to rush home everyday after work.

thanks bro for the pointers..i'm living in ttdi now actually, hehe so i know what u mean..i've been looking at sri ttdi condo for sometime now but somehow the price has shoot up due to certain reasons, one owner managed to sell his/her unit way above market value so all other owners are holding on to their units for a better bargain.

i have been searching around for a good place to stay and ttdi was the first choice, then damansara perdana and recently shifted to mont kiara. since my budget very low abt RM300K for app. 1000++ sqf apartment, i suppose MK area seems the better choice, though i have to increase the budget to rm350K depend on which unit to consider.

my concern is only that i think MK area price is highly due to speculation and not really the projected value, imagine so many condos sharing only ONE main access, is not really the type of property/investment i'd look for but then again is the only place within my current budget.

so i suppose the main question is whether to wait or just proceed to buy...hmmm tough choice.

Ure in TTDI and u wanna leave????

First of all, your budget is quite low if u wanna stay in a decent area. Most property prices have skyrocketed in the past 12 months. Are u sure you cannot afford a much higher valued place? When i started my property seach last yr, my budget was also around RM300K. Then i realised that for that budget i will not be a satisfied home owner. Either i sacrifice locality or i sacrifice space as in getting a small unit. So to get the best of both worlds, i decided to increase my budget and bought my current place for RM 470K. Have not regretted my decision since.

not my house... i like the ttdi area so considering ttdi first but then none within budget..desa kiara is ok but the area i've read is not so good, with "expats" flocking the area plus the cemetary..

i'm quite sure on the budget, 350K is max. i know my choice are limited but have to work within the budget, which is why i'm so concerned if make the wrong decision for this first buy.

Yes Desa Kiara is not good. So thats out.

When u say RM 350K is your budget, are u refering to the overall property cost only or the max amount of loan ure willing to take? Also, have you taken into account all the other lawyer & bank loan fees plus renovation & fitting out costs into your budget?

hehe..the house price itself..thats why preferable rm300k then will have some extras for the rest..else may have to do the others like reno and fitting out in stages i suppose..

searching through the internet and seems like sri damansara price is not so bad. i'll be ok if can pass the jam at LDP just to get to penchala link to get to hartamas i'd think..

Just make sure u are not buying at an inflated price in a non prime area. Many areas just pinjam the name damansara to give it some status.

noted. thanks for the heads up.

if u buy a house for own stay, sure u want it to be a safe and good environment,
so that u no need to be worry about ur family when they in and out the place

if u buy a house for investment, sure u want it to be a safe and good environment,
so that u can rent out easily with higher price

ask urself
if u buy a house at a place that environment is bad, security is bad, criminals all around,
will u worry about ur family members every day?
will the unit be easy to rent out with a good rental?

so with BNM 70% LTV policy, will property prices start to drop?

I think maybe high speculated areas... but most will stagnant and good areas still slowly increase...
developers will suffer and maybe come out 30% discount for their property launch?

This post has been edited by noproblem: Nov 3 2010, 07:05 PM

Developer mark up 30% give discount 30% can get 100% loan. First and second house buyer can get 130% loan? If this is possible, then property can surely fly!!!

Why not? Selayang Spring condo already gave 20% for some buyers... I can see developers going upgrade this trick again as long they can convince bankers...

Developers can sell but the problem is, can the flippers sell after VP as there is no more another flippers buying it cos can't get cheap loan anymore

Yup this move is to cool down the flippers

Hopefully it'll help keep the hiking price stagnant. I do not believe that property prices will go down - it may stay stagnant with its current value.

70% is still too lenient.
I would suggest 50%.

The effect may on highly speculated, high flipper area only.
I don't see how this measure can trigger a so called across property price drop.
But still it is good for BNM to step up, aka like a reminder, hey don't play too far.

While this is applied on individual, aka if your family got 4 members, you have 4 x 2 (max 2) = 8 properties that can be used , so may not limited to 3.

RPGT is more effective to curb speculation.

+1!! Don't think just the 70% measure would be enough to curb the rise of property price.

Anyway, for '3rd property only can get max 70% loan', this possession of properties will be counted historically or as of the time when you wanna buy the property ? (In hand)

What if I sold the first 2 properties now, and going to buy my supposedly 3rd Property...will I be limited to the 70% limit?

Thanks.

This post has been edited by Maxsimax: Nov 4 2010, 09:04 AM

what about if i bought 2 and then sell off 2 properties after that. After that i purchase another property, will it within the scope of 70% loan max?