MSNews - S'pore man loses over $300K after Johor seaview condo project stalls for 10 years

[Yowe55 mini]

Best advice is don't consider Malaysia at all.
It's too unreliable.

If want, as mentioned above, buy in KL at least easier to sell off or rent out.
Or Sarawak which has a different MM2H system.
There are property and rental taxes, so don't expect to earn when you buy their properties.

Malaysia is a very volatile country.
The politics change every few years, the king also must rotate every 5 years.
Each time, things can turn.

Whilst people are happy shopping in JB, little do they know that their local bumis are very unhappy with all the Sinkies/PRC pushing up inflation. The flourish of Chinese businesses has not benefit to their local Malays and the flourish of JB doesn't mean the entire Malaysia progress with it or is happy with that Sultan gaining more money and power.
There are already protests starting to happen and anytime we may see a riot like what we see recently in Indonesia/Nepal.

The MM2H system itself is unreliable, can apply don't mean can approve, can approve don't mean in the future can renew.


The statistics are clear.
6000 JHK converted to Sinkie citizens in the last 6 months and the numbers are on the uptrend.

Whilst there are only 1k+ Sinkies (Principal applicant + Dependents) having mm2H visas.
The numbers are pathetic.

All those RTS, electric train, or whatever, will only bring more JHK to Singapore, not the other way as people many people tot. The law in Malaysia restricts foreigners flow into their land, it's a one way valve.

Given that the number of rich foreigners who are eligible to stay long term will remain low, the low density in the population, the large amount of land they hold. There are very little upside to expect from Malaysia. There won't be any changes to this for the next few decades because withholding Bumi's rights is a red line which the federation will never cross. Introduction of foreigners especially Sinkies or PRC is seen as an intrusion to their culture and rights.

Property prices rose abit in recent years but SG as well as many of the world except China rose even more.
Becareful of those sohai buyers and JHK who are trying to psycho people to buy in JB in this forum.
There are a few obvious agents right in this forum.

If want to have the most reliable news, go to the MM2H facebook page.
There are a lot of agents spreading fake news around.

Even if is buy, is apply the MM2H already then buy, never the other way.

Dear testerjp,

Am I an agent?

Confidence for the future. More good years ahead... Let us take Singapore forward together.
Thank you.

 

[weng0202]

Malaysia property can trust then pigs can fly liao

Want short getaways just pay for airbnb, got hotel. Stupiak.

Yeah 300k can stay for many many vocations.

 

[blue666]

Rich Chinese, no problem

 

[osirisx]

He never sue them?

 

[Crooni]

even if he gets the property as per contract

he mortgage sg property for my property???

eh that's why malaysians want to come sg work, use sg resource to fund their LANDED property in malaysia.

it doesn't work the other way round if you're sinkie

 

[Kegler]

Didn't you say you have been telling people not to buy but to rent? Isn't that giving advice? Unless you think thats instructing not suggesting.



I agree with you that buying property in Malaysia comes with more risks than Singapore, but its not right to say there is zero potential of making money from the properties there. For instance, if one is doing business there or goes in regularly, you save more from buying than renting in the long term.

Othwr than advice or instructing...there is something call sharing

Anyway I'm here to debate with u....haha.... There's too many property agents in here.....bye!

 

[champion09]

tio conjob. lol

 

[champion09]

even if he gets the property as per contract

he mortgage sg property for my property???

eh that's why malaysians want to come sg work, use sg resource to fund their LANDED property in malaysia.

it doesn't work the other way round if you're sinkie

MM2H can la but I wont buy a condo for sure. The same price gets you a semi-D.

 

[iCubes]

Othwr than advice or instructing...there is something call sharing

Anyway I'm here to debate with u....haha.... There's too many property agents in here.....bye!

Dude, telling someone to do something is not sharing. Its either an instruction or a suggestion. Sharing is when you say things like buying property in malaysia is risky and dangerous, giving advice is saying you shouldn't buy property in malaysia. Goodness can't believe i have to explain the definition to you.

 

[DebtfreeDilemma]

You should always only RENT properties overseas, except maybe in UK you can consider buying

 

[pmetpmet]

So many sour EDMW BBFAs here

Always do the opposite as what they say

 

[mgx-alander]

2 years ago comprain

2 years ago already like this.. lol until now no sound no pigture

 

[Ethan_]

So buy completed project better?

Think in MY, better to get completed one. As the risk is much more higher. They got a lot of patterns one. Impression, not uncommon to see project kanna drag and drag for many years no progress. Some can be quite costly after initial investment estimate, need go several rounds of funding and contractors then can successfully finish. Even the official side also can chut pattern liao, don't say the private side. Just look at the joint projects local have with MY.

 

[tian_yibang]

10 yrs.....

If bai our pigeon-hole HDB can flip 2X riao , definitely can profit more than $300K

Pls remember, bolehland gahmen and work "culture" notch same like our sinkpor

Else chiu wun see the 1:3 of today

 

[Firstclass1188]

This news is fake news.

My neighbor bought landed new project. He took flexi loan.

1. Payment should be progressive for incomplete project, pay what is completed. At most for this progress is only 50 percent. Maybe lost RM100k.

2. If really have red flag, just don't pay the bank installments, declare bankrupt in Malaysia, case closed.

Anyway he so old and still so stupid, I have nothing to say.

What $300k loss? BS article and only can bruff chewren on EDMW.

 

[cpuer]

Buying big tickets like property especially in a foreign country that have bad track records are not for the faint hearted nor the ignorant, naive seniors. Anyway, the uncles are either scammed for his property purchase or scammed by "officers" via FB. so its same same.

 

[Mecisteus]

Your "we" represent who? Got what smart special rules?

I did the research A to Z, discuss heavily at the mm2h and other job/business visa in Malaysia Facebook. You want to share your very smart trick I'm not aware about?

And yes I don't intend to retire in Malaysia.

Our definition of retiring is different.

My definition of retiring is I am able to move in and out of any countries that I want, following their social visit law.

I must be able to afford multiple short term stays.

I won't be kumgong enough to tie down my capital in 1 location outside of SG.

 

[wooooot]

Unless its East Malaysia, I suggest not to buy any msia properties. Rent is better if you intend to stay.

 

[mickey88]

So buy completed project better?

Confirmed..

 

[Firstclass1188]

Our definition of retiring is different.

My definition of retiring is I am able to move in and out of any countries that I want, following their social visit law.

I must be able to afford multiple short term stays.

I won't be kumgong enough to tie down my capital in 1 location outside of SG.

That's because you are not at the level of money that you just don't know what to spend on.