Avoid Malaysian property, especially Iskandar

[klarklar]

http://www.todayonline.com/business/avoid-malaysian-property-especially-iskandar

Severe over-supply problems in Iskandar

Even if all the approved participants choose to reside in Iskandar, they will only fill up 10 per cent of the 300,000 residential units launched in the past five years.

Lots of unsold completed condos.

As for the completed condominiums, banners displaying “For Sale” and “For Rent” are commonplace. A casual count estimates 10 per cent of the apartments are furnished with curtains.

Developers getting desperate.

Some developers in Iskandar have dropped prices to move leftover apartments, adding downward pressure on valuations.

Over-supply, under-demand.

The situation with commercial and industrial properties is similar. While millions of square feet of commercial and industrial space are completed and waiting for tenants, several high-profile projects have never broken ground.

Good summary.

Malaysia held promise until over-development and overhyped promises propelled property valuations into the stratosphere, especially when Iskandar prices matched those in prime Kuala Lumpur districts.

 

[OngHuatHuat]

@mummy1234 for discussion purpose.

Quite many new and beautiful development are vacant now due to over development last few year. Pricing wise, condo are priced much higher than landed now.

 

[SBC]

Very curious when will the Leilong start.

 

[Mecisteus]

I don't mind buying if the price is really dirt cheap.

 

[OngHuatHuat]

 

[Majestic12]

Residential yes, especially condos. But what about commercial units?

EDIT: Oops saw the quote. It's all about the pricing now isn't it? And the cost of funds. And the location.

 

[WhyPayMore]

The over-development in johor has brought a very terrible consequences - they are losing water. All the trees has been cutting down and river level are dropping.
Look, they are practising water rationing this month, again.

 

[Shion]

Long time ago, from Sembawang Park, we can see trees and greenery opposite at Johor

Today, barren land with concrete buildings here and there

 

[mummy1234]

Wow, condos really overpriced, good that the oversupply will bring down the prices but I don't think landed is oversupply, that is why the prices maintaining.

 

[SBC]

Long time ago, from Sembawang Park, we can see trees and greenery opposite at Johor

Today, barren land with concrete buildings here and there

MY will laugh at SG Tuas South when Forest City islands are fully reclaimed & built.

 

[OngHuatHuat]

That condo is good stuff, just right behind city square only and built together with a 4 star hotel. Expect the rental demand to be high.

Wow, condos really overpriced, good that the oversupply will bring down the prices but I don't think landed is oversupply, that is why the prices maintaining.

 

[badsector]

Developer for Forest City been advertising aggressively during Olympic Games in china

PRCs been asking me... is that SG property?

 

[jq75]

Long time ago, from Sembawang Park, we can see trees and greenery opposite at Johor

Today, barren land with concrete buildings here and there

They over confident

 

[SBC]

Developer for Forest City been advertising aggressively during Olympic Games in china

PRCs been asking me... is that SG property?

In fact, there is a ah Tiong company.

 

[badsector]

In fact, there is a ah Tiong company.

its a china company

 

[qhong61]

I don't mind buying if the price is really dirt cheap.

But if cannot rent out, what's the use?

 

[endlssorrow]

But if cannot rent out, what's the use?

Buy for urself lah
Freehold can live forever

 

[henrylbh]

Buy for urself lah
Freehold can live forever

Freehold depends on who the government in your twilight years.

 

[mummy1234]

How to stay more than 1 month? Chop stamp on passport indicate only can stay no longer than 1 month.

Landed property for foreigner min rm 1million rite? Thought increase to 2 millions?

How to be safe home furniture and appliances will be intact when go for long holiday?

Got clean water supply? Toilet can flush? Electric supply consistent?

A lot of people just chop passport every month or retirees go for the Malaysia My Second Home or MM2H program where you put some money in FD there but can take part of it out to buy house but have other conditions like must have rm10k income a month.

 

[Mecisteus]

But if cannot rent out, what's the use?

I don't mind buying for my holiday or retirement home. But the price must be really attractive considering all the risks.

Now it is definitely not worth the risk to me. Just me.