I'm welcome MOF 80% on 2nd purchase, 70% on 3rd purchase and so on. This could be a good move to control speculation on BBB mode.

For 1st house buyer, gov might consider retain 90% MOF.

i agree with this, else only those rich ppl with alot of cash can buy house.

Agreed, firstly for first-time home buyers, rarely can get anything below 250 - 300k nowadays. And that's a very conservative estimate. 80% MOF means 50-60k downpayment! Legal fees, valuation etc another 8-10k.

Like that buy house no need to wedding, honeymoon, buy insurance, car etc already. Speculators are pricing fresh grads out of the market.

This post has been edited by bkfeng89: Aug 30 2010, 01:24 PM

singapore already take action, when malaysia will take the action?
Singapore toughens rules on second home buys

May be General Election is like coming up quite soon....the Govt need to do something to please ppl and in the same time looks and sound like controlling the property bubble to burst....Perhaps increase the Capital Gain Tax again?

my game plan to get positive cash flow, let the property price hike as long as they want, as much as they want, as long as i still get positive cash flow

What does RE stand for as the post posted by onemorething? beside real estate as used in the post.

---

Added on September 1, 2010, 9:22 amSaw in the news that comment from housing minister, the property price is malaysia still very cheap compared to other country i.e. Singapore, HK and China hence it attract more foreign investor to invest in Malaysia property market. He futher explained that the property price will still increase in the near future until a point and will remain constant after that. Even if drop also won't exceed 10%.

Any would like to comment on that??

This post has been edited by shanelai: Sep 1 2010, 09:22 AM

ya, very cheap if exchange in currency, WTF, y malaysia like to compare with those high income country. y dont try to compare to others SEA country like indo, thailand.... SG fresh graduate degree holder get 3.5k salary, wat about m'sia. in SG if mid income dont have enough $ to buy private condo they still can go for government condo which price is below 500k. wat malaysia got? low cost flat and low cost house only for those family total income <3k. so wanna compare with HK, ya their house very the expensive, so? they dont have enough land, HK salary is 10x malaysia salary. wat u still want to compare?

last time graduate from U means no need worry about food and place to stay, now fresh graduates need to save hard to pay down payment...

what is going on...

The world has change... everyone also graduates ... its just "Survival of the fittest"

Last time not many "graduates", now Every youngster in the midvalley are "graduate"...so Graduate = Citizen...

There are plentiful of houses below 300k (Sub-sale). with the 40 years loan accessibility, one month still lesser than RM1k? Why is houses not affordable in Klang valley? Of cz, the only thing u have to sacrifice is...."The Distance + Jam"

In most of the prime areas, the house price is supported by the strong demand.....not all areas though I agree, some area of cz got fry a bit....

the brain dead minister that want to increase our property price to high income country before we have increase the actual income of the people first. does a country become advance with higher property price

is the housing ministry aim is to increase profit for developer and speculator or to ensure affordable quality housing are available to malaysian?

This post has been edited by robertngo: Sep 1 2010, 12:38 PM

getting used to stupid comments from our gohmen.... always compare against developed countries about cost but never compare their earning against ours...

they think they can obscure the fact using an 'antic' old tactic they used in the past...

Msia Boleh!

Don't complain too much, they will tell you to compare with Zimbawee how much we have achieved.

You should be thankful of them, grateful to them and vote for them the rest of your life during this Merdeka celebration! 1Malaysia, 1crony not 2

ya.. later kena ask to go back dailok

This post has been edited by eugene jk: Sep 1 2010, 08:17 PM

yaya everything wanna compare with developed countries....but income comparable with 3rd world countries.... :/ Soon our housing only can be owned by the rich and foreigners.....msians go build illegal huts with the illegals.

I wonder what will be BNM decision or no decision at all and let it be the way it is?

I think it needs to be a several pronged effort and based on the following:

- Margin of financing of 80% is healthy for base line, most RE burst countries are looking at 70% as baseline
- Margin of financing can be reduced with the number of properties, i.e each individual is allowed 1 landed and 1 non-landed @ 80%, regarded of share on the property. Any company purchase will be max of 70% financing regardless of number as most investors buy under Sdn Bhd for limited liability. Anything more, each new property, margin drops by 10%, maybe reaching a baseline of 60% for individual, 50% of companies.
- Alternative, the margin drop with property prices. I dont think a fresh grad should aim for a 400K property, so it can be tiered.under 300K 90%, 300-500K 85%, 500-1M 80%, 1-2M - 75%, 2M and above 70%.
- Above 90% must be abolished
- I'm not too keen on a high BLR, that only means you hard earned money goes to the financial institution and government.

The question is, when such strict measures come by, will investors invest? Maybe yes and maybe no.

What i have seen in Dubai is, there were little genuine investors who are willing to wait, ppl were flipping properties on a daily bassis. There was absolutely no local market to absorb this. This is critical for million dollar projects in KL. Every new development , be it condo or house are reaching or exceeding the 1M mark. If a big portion are foreigners, then they have a problem as if they want to exit, there must be local demand to sell too. From what i can see, the 1M and above mark is mostly able to be met by only 10% of less of the population.

I believe there is huge demand for the sub500K properties but anything above, you are hitting a non genuine market or a slimmer market with higher risks.

Just my 2 cents.

This post has been edited by goks: Sep 2 2010, 01:39 AM

What a peculiar scenario, on one side (Eastern countries)properties price & stock rose tremendously. On the other side (Western countries), properties price and stock price fell down....a reverse situation of 1997 Asia Crisis?

just saw a news, sg government try to prevent property bubble, they set alot of rules to made sure no property bubble. like 70% loan for second house. private house owner have to sell of all their houses b4 getting a government condo. when a new house is purchase, owner have to wait for certain period(i not sure how long) to own second house.

but what m'sia do? minister say there is no property bubble, so nothing to do. WTF, they have to wait until the bubble occur then search for a solution, not prevent it.