BLR will increase meh... for wat? to scare away fdis ?

But looking at the car loan interest, they have increased. There is likely BNM to increase the BLR too. Hope these will not happen.

car loan is consumer loan.. not collateral with monetary context.. credit card loan interest decreased ady at the same time.. but that doesnt mean BLR will decrease becoz of that..

just my 2 cents

pilothans,

i bought 1 home there end of last year at rm252k (expensive by rm5k as opposing semi-d), now gaining to rm282k, which ~rm272k after 7% less for bumis.

i dont c for house values drop as it will be my house.
i wont be affected by blras using gov loan:)
im expecting the area will be expanding as the area has erl, in between klia n putrajaya, and also its freehold

thanks for the advice badutman .....

im also looking into the single story semi-D there...price quite reasonable

Property prices plunge

http://www.nst.com.my/Current_News/Streets/Wednesday/Stories/2381698/Article/index_html

NST Wednesday, 22 October 2008

KUALA LUMPUR: Owners in the Klang Valley are having a hard time selling their houses as buyers are staying away, hoping that prices would drop further.

This has been the scene in the past four months as buyers chose to "wait and see", anticipating further price drops next year.

Even though experts say prices will not dip much, some real estate agents are in jitters over the prospects for the economy next year.

Many real estate agents interviewed believe that the property market will only go downhill.

"Business has been bad. It's hard for us to sell houses nowadays," said one real estate agent.

He believes prices of condominium flats will drop heavily, after experiencing rise of RM1,000 to RM2,000 per square foot in the past two years,

He said those most likely to be affected are middle-income property owners who have difficulty in servicing their housing loans.

He said prices of middle range homes might be stagnant for a couple of years.

Another real estate agent, who wanted to be known only as Lim, said properties on the outskirts of Kuala Lumpur, such as those in Puchong, will feel the impact more than upmarket areas like Mont Kiara and Sri Hartamas.

Property developer Sunrise Bhd is to defer some of its projects while waiting for the market to readjust.

The developer added that it will take measures to complete its Solaris Dutamas, 10 Mont'Kiara, 11 Mont Kiara and Mont Kiara Meridin projects.

Boustead Properties executive director Datuk Ghazali Mohd Ali said prices of condominium apartments might remain stagnant.

"However, a good piece of property in an excellent location and well managed will be able to ride a recession better than other forms of investment," he said.

Real estate valuer Regroup Associates' executive chairman, Christopher Boyd, said the residential property market in Klang Valley will not drop as much as expected.

"The first thing to remember is that Malaysian house prices are not based on speculative value. This will allow the prices to be well balanced," he said.

He said the prices of houses would only be affected if people had no jobs or could not afford to keep up their mortgages.

"The rest of the world is going through turmoil. It is likely to weaken the Malaysian economy in general but because we are not as speculative as many countries, the property prices will not drop much," he added.

In the 1997 Asian financial crisis, property prices in Malaysia did not plunge as the government took measures to protect the market.

He said interest rates are still low and most Malaysians still have jobs and are able to pay their bills.

However the market was slow despite 20 to 30 per cent reduction in rents.

thanks muscaa for the good article.......

now im still thinking........buy or not

if u buying the 2nd hand house ( subsale) is better..
rite now the valuer are giving mkt value price lower from the market price ..
be advice to check the mkt value for the house b4 buying the house..
as not different bank will hv different mkt valuer & the value also different..
u cant use Bank A Mkt Valuer to take loan from Bank B & ect..

still not sure if the BNM will raise the BLR, but the bank will not continue their (-) interest spread for long now, myb BLR+0%...

Can somebody answer my question here Greenlane Heights Apartment? This is secondary property market im aiming at...I still doubt in my decision whether should buy house now or not....

This post has been edited by goolie: Oct 22 2008, 05:06 PM

buy only completed units.. i do know some property developers are now caught in the wrong side of their internal cost hedging strategy.... they tried to generate excess profit from the rising price..

hopefully our BLR will decrease as in following the trend in the US

im planning to buy a 2nd hand house anyway, thanks a lot for the comment BLR +% hopefully still -ve

good advice.

In general, before u sign anything, make sure you have checked with a FEW banks the average value of the property you intend to buy. That way you'll know 1st hand if you overpaid OR u r getting a bargain and how much loan can you get

On the interest spread, doubt it will ever go back to BLR + spread, unless BNM interferes.........

---

Added on October 22, 2008, 7:28 pmThis post has been edited by Pai: Oct 22 2008, 07:28 PM

will keep in mind

Guy,
I am considering to purchase a unit at U1 Residence Suite in Shah Alam. The unit is 1100ft2, total price at 350k, will be completed at 2011.
I got loan offer for 300k at BLR -2.2%.

The purpose is for investment (gain rental mainly, hopefully there is appreciation), but i really doubt whether i should go on looking at current market.

Any advice?

I'm actually curious as well. We have an oversupply of houses even before this economic downturn - yet prices are still high.
Part of me believes it a speculation theory that's keeping demand high, and invetibly property prices artifically high.
People buy more houses than they need on their own, and own houses more than they can afford.
People who have money dump them in property as it's considered a 'safe heaven'. The cycle has to stop somewhere, won't it?
Meanwhile, the developers build more and more.
Btw, it's just a theory

But this was how US property bubble burst anyway.
A catalyst needs to stop the cycle and restart again.

for Shah Alam area, thats really expensive.

---

Added on October 24, 2008, 1:04 amHi Kenny, we used to have oversupply of CRAP properties. Properties in good locations are always limited in suppply due to high demand and vice-versa.

Now, I feel that we have oversupply of "high-end" properties and correction will be due soon.

This post has been edited by Pai: Oct 24 2008, 01:04 AM

i think if we buy property for investment or rented purpose, we should take into account of maintenances fees, indrawater fees(half yearly basis), fire & theft, infrastructure...

if ur property for business... u will get good rental bcos the location...
if ur property for staying... i think may difficult to fetch good price bcos of the heavy road traffic, the "music" will appear around 730am-930am and 600pm-800pm...

Oh, "music"? U mean from the highway around is jam? The property is for staying ....