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Share experience - Malaysian Property Market Q4 2008

 
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SatayKL



Joined: 06 Dec 2008
Posts: 8

PostPosted: Sat Dec 06, 2008 9:58 pm    Post subject: Share experience - Malaysian Property Market Q4 2008 Reply with quote

Bankers told me loan applications fell 50% recently. But real estate agents told me they are still doing well...??[true or not?] Developers on the other hand are not dropping prices, though making less new launches. But new take ups are not great either. Despite of this, some bigger developers continue to build. [wonder why?] And with regards to premium priced properties, there are quite a few aborted deals. Many took up renting in place of making purchases [residential as well as commercial properties].

What is your 1st hand experience with regards to the Malaysian market? Please share.
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tkc



Joined: 13 May 2007
Posts: 454

PostPosted: Tue Dec 09, 2008 9:42 pm    Post subject: Reply with quote

it is true the property prices didnt drop especially properties in prime area. in my opinion, property price wouldnt drop if interest rate don't go up. owners wouldnt want to let go the property and put their cash in the bank which interest is not giving good return. they would rather keep the property for rental return which is better than the FD. furthermore, with time like this, many people is more willing to rent than buying a new property to avoid any commitment.
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ongklsmb



Joined: 14 Dec 2008
Posts: 39
Location: Johor Bahru & Singapore

PostPosted: Mon Dec 15, 2008 1:11 am    Post subject: Property Investment in Johor bahru Reply with quote

In Johor Bahru, recently there is a rumour in the market and among agents that property prices will start to drop further after Lunar New Year. Don't know how true is this and the basis of it.

Since Sep we noticed that prices of those high-end properties like condominiums in JB have dropped quite significantly (10%-20%). This is because those units previously hold by developers are now on fire sale. Most developers are facing liquidity and credit pressures either from banks or contractors as everyone in the market is now trying their best to secure cash.

Some developers of middle-end condominiums have also appointed agencies to sell their units below market price. Suddenly the market is flooded with more supply of properties from both developers and home owners.

Rental rate has increased, however, in Johor Bahru since early of the year as people are holding back large and unnecessary expenses in this uncertain period, just like tkc said. Also, banks are now more stringent in approving loan. A friend of mine who is a lawyer of bank confirmed this based on what he has seen from his cases.
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taiko



Joined: 30 Nov 2008
Posts: 64

PostPosted: Wed Dec 17, 2008 11:05 am    Post subject: Reply with quote

As long as US hasn't come out from recession, the property market is vulnerable to the downward trench due to the chain effects and globalization.
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ongklsmb



Joined: 14 Dec 2008
Posts: 39
Location: Johor Bahru & Singapore

PostPosted: Tue Dec 23, 2008 11:44 pm    Post subject: Reply with quote

We believe within the next 6 months, Malaysian workers retrenched by Singapore firms will flow back to rent houses in JB while they look for new jobs in Singapore. This may temporary bring more tenants to JB.

Strong Singapore dollar will also attract more people from the north to come and find job here in long term, just like what has happened in the last 1997 Asian currency crisis. (Today S$1 can change for RM2.4)

This is the special effect that’s happening in JB & Singapore.
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snow1



Joined: 30 Nov 2008
Posts: 11

PostPosted: Wed Dec 31, 2008 10:56 am    Post subject: Reply with quote

Hi ongklsmb,

Are you selling Singapore properties also as i see your "tab" with both johor bahru and singapore on it.

By the way, if you are familiar with Singapore properties, may i seek your expertise whether will 2009 be a good year to buy properties in Singapore? I am working in Singapore however i am originally from JB.

Thanks Smile

snow
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ongklsmb



Joined: 14 Dec 2008
Posts: 39
Location: Johor Bahru & Singapore

PostPosted: Wed Dec 31, 2008 9:09 pm    Post subject: Reply with quote

Hi, snow1. What is your intention for buying singapore property? Investment or own staying? HDB or private?

Property prices have definitely dropped over the last 6 months and transactions are significantly lesser compare to last year. Will 2009 be a good year to buy property? Good Question, guess all of us will be pondering on this.

But there are news claiming that private developer for new condo will be lowering their price to entice customers to start buying.
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snow1



Joined: 30 Nov 2008
Posts: 11

PostPosted: Sat Jan 03, 2009 7:16 pm    Post subject: Reply with quote

Hi ongklsmb,

I think i am buying it more towards as own stay. Will you advise differently if is for investment purpose?

I guess what you said is quite true, the upcoming private properties' prices are going to drop....i hope it will drop to less than SGD500 psf!

Thanks,
snow
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ongklsmb



Joined: 14 Dec 2008
Posts: 39
Location: Johor Bahru & Singapore

PostPosted: Sun Jan 04, 2009 1:06 pm    Post subject: Reply with quote

Hi snow1, if you are buying house for your own stay, I would suggest you buy within your budget while live within your mean.

If it's for investment purpose, rental income should be your priority. Rental property not only generates regular cash flow, property with higher rental income tends to sell at higher price in the market.

HDB is the safe haven of property market in Singapore supported by the constant growing demand and the protection from speculators. It's an unique type of property in Singapore that worth buying both for own stay and investment.

For private property, let's hope it will really drop below SGD500 psf..
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