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Financial Is property going to drop?, General property price discussion

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Pennywise
post Jun 2 2009, 01:20 PM

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Ok, not sure if this is even related but just want to be involved with the topic.

Well, prices for property is declining for US and EU. When I was there earlier this year, my colleagues mentioned the credit crunch. Houses in UK is declining about 20 - 25%.

What makes me curious is that, when will this eventually impact Asia? Or will it ever impact Asia at all? Due to the economy downturn, everything is coming downwards but whether or not this will cause the Malaysia property price to move down or not - nobody seems to know.

Some view it as a virus outbreak spread from US > EU > Asia, they say "it will come." Others advise me that they have speculators there who raise up the house prices ridiculously high and therefore it's plunging down now.

What's your take on this? I'd like to hear some veteran feedback as I am also looking for a place for my own some time end of 09 or early 2010.
Pennywise
post Jun 4 2009, 01:57 AM

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No, I dont read any news on all this. In fact, it was never part of my interest until lately.

Personally, I think the price is unlikely to drop but still, I believe many is hoping for it. Yes, share prices are going up but right now is not exactly the best time.

Really not aware of the price drop in Malaysia you mentioned. Mind highlighting which project had a drop in price?
Pennywise
post Jun 4 2009, 02:09 PM

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QUOTE(Malefic @ Jun 4 2009, 07:22 AM)
Some examples will be Ayuria and Kiaraville in Mont Kiara and Marc around KLCC. Not spectacular drop, just some price decline. But as I said, you might be too late ... there was a sharp spike in the number of buyers in May and most reasonably priced units have been snapped up.

Same case with my apartment in Subang. The real estate agents say most units have been sold except for a few outrageously priced ones ... they asked me if I want to sell my unit, say got waiting foreign buyer.
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Thanks for sharing. I am open to correction and knowledge. I'm not at the level to look at places like MK / KLCC and I'd like to highlight again that I'm very new to all this.

Speaking of Subang, I'm quite interested with the condos at around Subang KTM area but I think it's 100% sold out? I checked at Titijaya website and it stated so. I know there are a few upcoming projects around the area. Also read about Taylors college moving away (dont know where) but that seems like a nice play to buy for personal stay now.
Pennywise
post Jun 5 2009, 12:50 AM

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QUOTE(Malefic @ Jun 4 2009, 09:58 PM)
If you are interested in the serviced apartments near the subang KTM, you need to buy from the subsale market (from owner, not developer)

e-Tiara (completed 2 years ago)
Casa Tiara (completed 1 year ago)
Subang Avenue (just completed)
Saujana Residency, Empire, Olives (should be ready by 2010)

So your best bet is Subang Avenue, which is just next to Carrefour. They have 3-room and studio units.

If I'm not mistaken, only Taylor's Leisure Commerce Square campus is moving out. The SS15 campus will remain.
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Wowww, thanks for the info. You posted one post but seem like answered a lot of my questions.

Subang Avenue is between Carrefour and Mesiniaga yes? What's the price range for the 3 rooms one and the studio unit? Will you be able to advise?

Saujana Residency, Empire, Olive (ready by 2010), where are these? Subang old airport that side?

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