Property in Economy Crisis, What will happen to property market?
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 Oct 27 2008, 11:28 AM
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#1
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Junior Member
462 posts Joined: Feb 2007 
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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. |
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Oct 28 2008, 10:18 AM
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#2
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Junior Member
462 posts Joined: Feb 2007
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QUOTE(Pai @ Oct 27 2008, 11:00 PM) 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. Well, you are right, should not sell if the time is not right. You could say that i am actually selling at the wrong timing. But, to me this property does not worth to keep.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 Hehehe,sound like a good plan to aleviate the pain  Added on October 27, 2008, 11:23 pm 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   Ok, this is a shophouse. Located in SITIAWAN, my hometown. It is the place which considered as the top producer of swifnests and swiftlet farming. Since i am staying in KL, I dont think i have the time and effort to take care of this property or even run a business there. ROI is terrible. 3 storeys shoplot only yield 1750 rental a month, and dont forget, about 1k alone out of 1750 is for bank interest only. purchased at 485k. |
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