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 Property in Economy Crisis, What will happen to property market?

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gkl83
post Oct 25 2008, 08:06 AM

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QUOTE(toto4d @ Oct 25 2008, 04:57 AM)
Oh, "music"? U mean from the highway around is jam? The property is for staying ....
*

i means the roads just right beside the building... between jalan subang, persiaran jubil perak & jalan batu tiga lama
i working at glenmarie... i able to jam there around 30-45minit (after working hour) around that areas only for around 3km road trip only even sometime i cut Q illegally... sweat.gif no only me cut Q, a lot of cars cut Q as well, so u can imagine the traffic bcos of those inefficient traffic light... maybe u can drop by there around 6-7pm have a look but sometimes the road quite clear...

http://maps.google.com/maps?f=q&hl=en&geoc...5,0.006909&z=17

but i thought this house below RM260k only? why u the price RM350k? RM90k differences... rclxub.gif
http://forum.lowyat.net/topic/674801

This post has been edited by gkl83: Oct 25 2008, 08:08 AM
TStoto4d
post Oct 26 2008, 03:57 PM

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gkl83: Thx for the info, eh, should really consider this. I yet to visit the area yet.
Yup, i saw the price for phase I is RM260k, but now the price from developer is around RM300-350k... macam too expensive. Now i serious consider to cancel to booking......
arthurlwf
post Oct 26 2008, 09:21 PM

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For one thing, when economy crisis kicks in, which property area will be first impacted???

For one thing, I doubt places in KL & PJ, Sunway, Damansara will be impacted during economy crisis...


Here is the list of KL & Selangor Area
» Click to show Spoiler - click again to hide... «

dreamer101
post Oct 26 2008, 10:52 PM

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QUOTE(arthurlwf @ Oct 26 2008, 09:21 PM)
For one thing, when economy crisis kicks in, which property area will be first impacted???

For one thing, I doubt places in KL & PJ, Sunway, Damansara will be impacted during economy crisis...
Here is the list of KL & Selangor Area
» Click to show Spoiler - click again to hide... «

*
arthurlwf,

1) How many recession that you have actually went through??

2) This one is even worse than the 97/98 crisis.

Dreamer
muscaa
post Oct 27 2008, 12:19 AM

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QUOTE(dreamer101 @ Oct 26 2008, 10:52 PM)
arthurlwf,

1) How many recession that you have actually went through??

2) This one is even worse than the 97/98 crisis.

Dreamer
*
yeah dreamer,

the recession sounds very scary like no bottom for the share markets

be careful for those property owners who still think they can earn good "passive income"... your nightmare is not far away

Pai
post Oct 27 2008, 12:48 AM

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QUOTE(dreamer101 @ Oct 26 2008, 10:52 PM)

2) This one is even worse than the 97/98 crisis.

Dreamer
*
And can you care to elaborate why is that so?

Or have you mistaken Malaysia for US?
noproblem
post Oct 27 2008, 02:07 AM

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http://biz.sinchew-i.com/node/17519

Our neighbors are facing real challenge now. How about us?
Interrupt
post Oct 27 2008, 02:54 AM

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QUOTE(noproblem @ Oct 27 2008, 02:07 AM)
http://biz.sinchew-i.com/node/17519

Our neighbors are facing real challenge now. How about us?
*
IMHO, the most scary thing in Malaysia is the lack of recognition of this impact. So far I think Malaysia is the only country in this region thinks that we can withstand this. I think we will only start feeling the real impact 3 months later. I read from Malaysiakini that we're likely going into technical recession Q2 next year and go into recession around Q3; but I expect that to be happening earlier given the fact that the world stock market tumble like nobody business... Worst is that it has not reach the bottom yet...

Japan Nikki stock index dropped to 26 years low on last Friday, and now reading the sin chew link you've just posted about China economy may be at risk -- I doubt any South East Asia country can withstand this without huge amount of reserve.

Btw, Singapore private home prices fall 2.4%

This post has been edited by Interrupt: Oct 27 2008, 03:03 AM
arthurlwf
post Oct 27 2008, 03:14 AM

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QUOTE(dreamer101 @ Oct 26 2008, 10:52 PM)
arthurlwf,

1) How many recession that you have actually went through??

2) This one is even worse than the 97/98 crisis.

Dreamer
*
Well, I would also expect this round would be worst than 97/98 because of the following reason:
1) Malaysia have a high export to other country as almost all country is affected with global economy problem
2) Malaysia still have plenty of $$$ to rescue Malaysia's economy problem during 97/98, and I doubt this round is possible as there is a balance and check in the parliament. Hope Malaysia government will not throw our old age money (EPF) to the sea...
3) There would be impact to most of the property in KL & Selangor, but hot area (KL & PJ, Sunway, Damansara) will have lesser impact compare to the other places because the place is a mature area...

So Dreamer, from your post, we don't know whether you agree and disagree with the below statement:
I doubt places in KL & PJ, Sunway, Damansara will be impacted during economy crisis...

Dreamer, what you think what would happen to the property during economy crisis?


Added on October 27, 2008, 3:31 am
QUOTE(muscaa @ Oct 27 2008, 12:19 AM)
yeah dreamer,

the recession sounds very scary like no bottom for the share markets

be careful for those property owners who still think they can earn good "passive income"... your nightmare is not far away
*
Yeah, its really scary currently especially on the world's share market nowadays...Each new day, we keep hearing new economy problem

The scary part is Iceland goes bankrupt


This post has been edited by arthurlwf: Oct 27 2008, 03:44 AM
arsenal
post Oct 27 2008, 05:24 AM

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QUOTE(Pai @ Oct 27 2008, 12:48 AM)
And can you care to elaborate why is that so?

Or have you mistaken Malaysia for US?
*
wait and see lor.....heheheheh...smile.gif....if company retrench we can get VSS right???can go clubbing liao...
dreamer101
post Oct 27 2008, 09:59 AM

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QUOTE(arthurlwf @ Oct 27 2008, 03:14 AM)
Well, I would also expect this round would be worst than 97/98 because of the following reason:
1) Malaysia have a high export to other country as almost all country is affected with global economy problem
2) Malaysia still have plenty of $$$ to rescue Malaysia's economy problem during 97/98, and I doubt this round is possible as there is a balance and check in the parliament. Hope Malaysia government will not throw our old age money (EPF) to the sea...
3) There would be impact to most of the property in KL & Selangor, but hot area (KL & PJ, Sunway, Damansara) will have lesser impact compare to the other places because the place is a mature area...

So Dreamer, from your post, we don't know whether you agree and disagree with the below statement:
I doubt places in KL & PJ, Sunway, Damansara will be impacted during economy crisis...

Dreamer, what you think what would happen to the property during economy crisis?


Added on October 27, 2008, 3:31 am

Yeah, its really scary currently especially on the world's share market nowadays...Each new day, we keep hearing new economy problem

The scary part is Iceland goes bankrupt
*
arthurlwf,

1) If you live through 97/98 recession, you would know that property in those market dropped too. Except, some did recover a few years later and some did not. So, you may not know it now.

2) Given that this recession will be worse than 97/98, so what makes you think they will not drop?? Given the past history, they will drop.

Over the past few years, Malaysia's growth is ONLY based on the two OILS: Oil and Palm Oil. Now, they both will drop.

Dreamer
arthurlwf
post Oct 27 2008, 10:32 AM

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QUOTE(dreamer101 @ Oct 27 2008, 09:59 AM)
arthurlwf,

1)  If you live through 97/98 recession, you would know that property in those market dropped too.  Except, some did recover a few years later and some did not.  So, you may not know it now.

2) Given that this recession will be worse than 97/98, so what makes you think they will not drop??  Given the past history, they will drop.

Over the past few years, Malaysia's growth is ONLY based on the two OILS: Oil and Palm Oil.  Now, they both will drop.

Dreamer
*
Alright, I will rephrase my sentence:
I doubt places in KL & PJ, Sunway, Damansara will be much impacted during economy crisis compare to other areas in Selangor...


Is it due to the reason that both OILS price drop, therefore you conclude that the property price will drop to an unknown bottom?

Apology for my lack of economics understanding, and how would property price link with both oil prices?
cody99
post Oct 27 2008, 10:36 AM

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Till now I don't see heavy URGENT SALES / FORECLOSURE.
I guess it will impact when retrenchment happen.
Many mid income earner got burn in share but still able to hold on on the property.
muscaa
post Oct 27 2008, 10:43 AM

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QUOTE(arthurlwf @ Oct 27 2008, 03:14 AM)

Added on October 27, 2008, 3:31 am

Yeah, its really scary currently especially on the world's share market nowadays...Each new day, we keep hearing new economy problem

The scary part is Iceland goes bankrupt
*
yes, not only iceland, ukraine and hungary are heading to bankruptcy & need help from IMF

http://news.bbc.co.uk/2/hi/business/7692017.stm




a6meister
post Oct 27 2008, 11:28 AM

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we indeed is in recession now. not a good sign.

property market for now ? to me, i will not even get any closer to it. simplicity saying, get rid of it.

i am selling a property off now. But, seems like, i wont be able to make it through. the price that i am selling, actually is a negative.

HEADACHE.
arsenal
post Oct 27 2008, 03:29 PM

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QUOTE(dreamer101 @ Oct 27 2008, 09:59 AM)
arthurlwf,

1)  If you live through 97/98 recession, you would know that property in those market dropped too.  Except, some did recover a few years later and some did not.  So, you may not know it now.

2) Given that this recession will be worse than 97/98, so what makes you think they will not drop??  Given the past history, they will drop.

Over the past few years, Malaysia's growth is ONLY based on the two OILS: Oil and Palm Oil.  Now, they both will drop.

Dreamer
*
manufacturing?
TStoto4d
post Oct 27 2008, 04:47 PM

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QUOTE(arsenal @ Oct 27 2008, 03:29 PM)
manufacturing?
*
Manufacturing? U mean the manufacturing industry in Msia as a growing sector?
I doubt on this, msia macam factory for others only. If those big companies having problem, msia operation sure affected.
muscaa
post Oct 27 2008, 10:51 PM

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Malaysia's key sectors show signs of slowdown

The Straits Times, October 27, 2008

At the numerous condominium projects around the Mont Kiara suburb of Malaysia's capital Kuala Lumpur, construction workers plod round the clock to complete multi-storey apartment blocks. Property developers in this popular neighbourhood are worried, though, that sales are starting to slow.

"Units that were previously sold are now coming back onto the market," says a project manager of one unfinished condominium complex.

Shockwaves from the global financial meltdown are starting to pound on Malaysian shores and signs of a wider slowdown are already emerging in key props of the Malaysian economy, private economists say. That's spreading caution across the board, from potential homeowners to buyers of new cars.

Full articles: http://www.asianewsnet.net/news.php?id=2279&sec=2
Pai
post Oct 27 2008, 11:00 PM

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QUOTE(cody99 @ Oct 27 2008, 10:36 AM)
Till now I don't see heavy URGENT SALES / FORECLOSURE.
I guess it will impact when retrenchment happen.
Many mid income earner got burn in share but still able to hold on on the property.
*
You are right. Despite KLCI and global market plunges, houses pricing are still holding up. U will find decrease in asking price for high end properties(klcc, MK, and bangsar) in the next 3 months onwards.

Actually, speaking of retrenchment, anyone heard any coys layong of their staffs? I know many MNC now freeze new hires, but have not any heard any massive scale firing going on. My frens in SG having sleepless nights now.


Added on October 27, 2008, 11:04 pm
QUOTE(arsenal @ Oct 27 2008, 05:24 AM)
wait and see lor.....heheheheh...smile.gif....if company retrench we can get VSS right???can go clubbing liao...
*
Hehehe,sound like a good plan to aleviate the pain tongue.gif


Added on October 27, 2008, 11:23 pm
QUOTE(a6meister @ Oct 27 2008, 11:28 AM)
we indeed is in recession now. not a good sign.

property market for now ? to me, i will not even get any closer to it. simplicity saying, get rid of it.

i am selling a property off now. But, seems like, i wont be able to make it through. the price that i am selling, actually is a negative.

HEADACHE.
*
Boss, in terms of timing, you could not pick a worst time to sell.

Btw,this property of yours, can give more info:
1. Development name
2. Your selling price
3. Rental p/m

smile.gif

This post has been edited by Pai: Oct 27 2008, 11:23 PM
wodenus
post Oct 28 2008, 12:30 AM

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So nice.. everything is cheap biggrin.gif

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