Same as Red Coffee... i'm a very conservative person. When I started working, I cannot afford to buy any properties myself. When I have enough saving, the price went so high up that I don't think it worth it. I'm always waiting for the price to drop, especially after US ecomony crisis 1-2 years ago, but it didn't drop. At the end, working 5 years in Penang I got nothing.

Now I've just moved to KL, and started looking around to buy a house or apartment for myself.... still I think the price is just too crazy!! Previously I thought property price in Penang was too high, but now in KL, it's even worst.....

Anyway, I'm working near Damansara... any good recommendation? I'm not sure if I still continue waiting for the burst (might end up with nothing again), or just go ahead to buy.... But with my budget, don't think i can get good apartment around that area... I'm still praying for the bubble burst to come!!!!

Caitlin, yup agree on what you said... I'm another poor soul who worked for 4 yrs but still havent earned enough to buy a decent house in selangor...

I don't think there is a bubble but the recent hike is a bit too much... people are buying houses like clothes or shoes... n even the newly launch properties are expensive....like 20% more expensive compared 2 yrs ago....

I'm considering working oversea to catch up with increase in cost of living in msia....

this is the problem isnt it, if the normal working people are price out of the market, who will be buying the property if not for speculator, the market is then growing without solid foundation.

property bursting is no fun.... its a chain reaction that will affect the economy and when things go bad, u might get out of job... u really praying for that to happen??

hopefully the government able to come out with some measurement and guideline to soften and slow down the property sector, and let time slowly catching up with the property value...

I am so tempted to buy that Gamuda pegion hole for 300K.
Need this to sober myself up.

Many Thanks mate.

If you wait for a good property to drop in prices, u might end up waiting forever..................

totally agree

Ya, I agree also,...I think for Malaysia, only price of high end properties might drop during recession. Low to mid-high shouldn't drop much and if so will be very brief.... I believe Malaysia has still a long way to go before experiencing major real-estate industry downturn ....

Hire an indonesia out of contract worker, kill someone in that house, made the news onto the main page and then wait for the price to drop 10-20%.

Just an idea...

This post has been edited by andrekua: Aug 24 2010, 07:13 AM

The implementation of GST/VAT will inflate the property price somemore. Be prepare for that!

Don't be dismay. Don't rush and follow blindly. New ones many are over inflated. Check out some older ones. Point to look out:- maintenance, landscaping, guards(security), how active is the residence association, neighbor, even % who default maintenance fees ... still can find some reasonable ones where price hasn't inflated so much below 300k. Of course not landed.

After flipping first few years, wonder how much it will appreciate after few years for these new projects...

take a cue from ther stock markets-
when you see uncles n aunties diving into stocks ,without even
bothering to do some basic homework,some dont even know how to pronounce the names properly,
then its time to exit, my friend.

in property, the scenario is similiar-many young, inexperienced n impatient pple are jumping on the property bangwagon,
cos they feel left out when they see profits so easily made!!!
they dont do their homework and just blindly go in-hoping to get out before any crash.

well, in a stock market crash the poor uncles n aunties are always left holding the baby ,so too in the property market-the inexperienced,impatient fellas are the ones left holding property at inflated prices and undergoing tremendous finanacial stress as they struggle to pay the mortgages.
its ok if you have deep pockets-o/wise you'll have to beg,borrow,steal or declare bankruptcy!

u r absolutely right brother suang!

From what I've observed, many of the property speculators and "investors" are Malaysians working overseas (usually Singapore, UK, Middle East) who, thanks to the favourable exchange rate, have no trouble buying several Malaysian properties in a year.

Although I am a property owner who benefited greatly from the recent price surge, my sympathies are with those seeking to buy their first own stay property who are being priced out of the market.

So, I pray that the real estate market will crash and speculators, whom I despise, will learn the meaning of 'live by the sword, die by the sword'.

No, I am not afraid of losing my job

This post has been edited by Malefic: Aug 24 2010, 04:41 PM

I am one of the salary earners that my salary just cannot compete with surging RE price. so i hope it is a bubble and it will burst soon...

wwwcomment,

Bubble takes time to build and take time to burst! (We do not know when it comes)
If possible, get a high rise flat or apartment for own stay rather than renting. .

For all we know, maybe the bubble come 8 years later and you have already paying 8 years rental for other to own a property.
When it comes, price may not be lower than now or it will??!! Nobody knows. .
At least a place for your own be it a apartment/condo does not matter. .

Aji Ajo.

Malefic,

I do work overseas but yet, i cant seem to afford something i want. Working oversaes especially in ME is temporary...3-5 yrs and given the way RM has appreciated against the USD or USD depreciation.... the actual income is dropping on a monthly bassis...worsts till if you are in my shoes where u get Euro's..then u're taking pay cuts if ure sending back home...secondly cost of living oversaes is prtty high...i pay 150K RM for rent a year for a 3 bedroom ...so do the numbers!

Nevertheless, the nett take home (tax free thank god) is still better but you become more prudent on how spend after seing the bubble burst in ME.... here you go to jail if you miss you loan payments.... then deported....

the worry of any overseas malaysian...if they are taking a 800K loan...thats about 4+K a month over 25-30 yrs. Can you sustain the payments if you need to come back? There is less job security overseas then in Malaysia..the labour laws in many countries doesnt really protect work permit holders very much..so its high rick, high stress, high cost of living..sometimes when u do the math...u just stop thinking!

I think i have reached that point..the business case of taking up an offer from my KL base was on a Euro to MYR of 4.88 and today its 3.98 arggggg!

Good luck guys!

goks? which ME you staying that need 150KRM rent annually?

mind elaborate more..I'm also working with M.E. and if you save well, you saved tons!!! I meant it!

Whether you are earning 1k 2k 3k, it's matter of saving method.

Given you 100k p.m. you end up the same, if you spent like the guy who parties with Paris Hilton!

What do you think about the property bubble 5 years from now? The crazy property prices around KL/Klang don't match Malaysians' depressed income levels.

We pooled in money to buy a piece of land in Kota Damansara to build house. We are really worried that the bubble bursts in 5 years time and we get stuck