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

[buttbERry]

Already got thread on this Liao

 

[deepblue_82]

so meaning if really want to buy, only buy completed projects
all those ppl selling at check point and ksl ?

 

[testerjp]

so meaning if really want to buy, only buy completed projects
all those ppl selling at check point and ksl ?

If wanna buy, what's the purpose.
To stay long term?
Then you need a valid mm2h visa.

To be qualify, you don't need to buy in their backwater JB.
You can buy in kl or penang and get the mm2h visa then stay in anywhere you want.

In fact for the same one million ringgit, you can buy at their central orchard road unit in their capital KL where it's alot easier to sell or rent out.

Medical facilities in amenities are also better in KL Selangor area. KL is many times more buzzing than Jb.

That's why jhk will never understand why so many sohai wanna spend money on jb units.

To add on, the easiest place to get mm2h visa with the least requirement is Sarawak. That's if you die die want to stay in Malaysia. But you can't get the east Malaysia mm2h to stay in West Malaysia.

When the throne of the king rotates, to the sultan of perak in a few years. We will all see more SEZ and all the favourable access to JB will begin to dismantle

 

[Visor9999]

How come Anwar never ensure these condos are built in Jb

 

[tian_yibang]

Lol

Even if new developer takeover, gotch "gurantee" he will get the house finally bo ?





Neway he's quite ko lian , all that years of "wait nong nong" in the end might cums to nothing

But to look at brighter side , maybe a miracle "wait nong enuf will get" will emerge

$300K to kanna scam bai a lesson really ish notch cheap , EDMWers kanna charge more than $3 caipng alr kpkb like no 2moro

 

[Mecisteus]

Look at all the bad advices given.
Rent for what?

You are not allowed to stay in Malaysia at all for long term.

Both buy or rent are bad ideas in Malaysia.

In the meantime, she added that the couple will continue commuting from Singapore to Johor Bahru via social visit pass to visit their home.​

​

However, Alter Domus’ Mr Ch’ng warned that foreigners who stay in Malaysian property for long stretches without a long-term visa risk running afoul of Malaysian immigration laws and could get their identities blacklisted and barred from entry.​

​

He explained that under Malaysia immigration laws, foreigners with no long-term visas are not permitted to stay in Malaysia for longer stretches than the duration they stay outside of Malaysia.​

​

“For example if (a person on social visit pass) stays (for) 28 days in Malaysia, you have to stay outside the country for 29 or 30 days before you can come back in. If not, your travel pattern might raise alarm bells and you might be barred from entry,” said Mr Ch’ng.​

https://www.channelnewsasia.com/asi...oreigners-residency-properties-delays-4006451​

So what is the suggestion to stay there longer term ?

Pay for their MM2H and buy their property ? These are worst devils.

 

[testerjp]

So what is the suggestion to stay there longer term ?

Pay for their MM2H and buy their property ? These are worst devils.

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.

 

[Mecisteus]

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 foreign.
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.

wow so extreme not to consider Msia at all leh.

When you rent, you find a fully furnished house. Pay deposit only. This deposit is your maximum loss. Don't keep expensive stuff in the house.

Buying a house and MM2H require bigger outlay. The potential losses are much higher.

 

[testerjp]

wow so extreme not to consider Msia at all leh.

When you rent, you find a fully furnished house. Pay deposit only. This deposit is your maximum loss. Don't keep expensive stuff in the house.

Buying a house and MM2H require bigger outlay. The potential losses are much higher.

Rent for what?

CNA already did the legwork and tell you is not legal and can get banned anytime for overstaying unless you intending to jsut stay there every weekend or so.


Which part you don't understand?

In the meantime, she added that the couple will continue commuting from Singapore to Johor Bahru via social visit pass to visit their home.​

​

However, Alter Domus’ Mr Ch’ng warned that foreigners who stay in Malaysian property for long stretches without a long-term visa risk running afoul of Malaysian immigration laws and could get their identities blacklisted and barred from entry.​

​

He explained that under Malaysia immigration laws, foreigners with no long-term visas are not permitted to stay in Malaysia for longer stretches than the duration they stay outside of Malaysia.​

​

“For example if (a person on social visit pass) stays (for) 28 days in Malaysia, you have to stay outside the country for 29 or 30 days before you can come back in. If not, your travel pattern might raise alarm bells and you might be barred from entry,” said Mr Ch’ng.​

https://www.channelnewsasia.com/asi...oreigners-residency-properties-delays-4006451​

 

[madcampus]

How come Anwar never ensure these condos are built in Jb

Anwar own seat also not stable, still want to chup overseas property buyers' problem?? Neh.

 

[deepblue_82]

If wanna buy, what's the purpose.
To stay long term?
Then you need a valid mm2h visa.

To be qualify, you don't need to buy in their backwater JB.
You can buy in kl or penang and get the mm2h visa then stay in anywhere you want.

In fact for the same one million ringgit, you can buy at their central orchard road unit in their capital KL where it's alot easier to sell or rent out.

Medical facilities in amenities are also better in KL Selangor area. KL is many times more buzzing than Jb.

That's why jhk will never understand why so many sohai wanna spend money on jb units.

To add on, the easiest place to get mm2h visa with the least requirement is Sarawak. That's if you die die want to stay in Malaysia. But you can't get the east Malaysia mm2h to stay in West Malaysia.

When the throne of the king rotates, to the sultan of perak in a few years. We will all see more SEZ and all the favourable access to JB will begin to dismantle

i think its very simple why ppl want to buy jb coz its nearest to sg....
some ppl buy for rental some buy as holiday home
if for rental kl would be best but for holiday home i rather jb...
not everyone got visa i think there are some just go in and out

 

[DW]

Yes. I noticed many potential buyers keep saying "can stay as weekend home." As a regular JB goer, my advice is there are so many many many hotels and apartments for you to rent via airbnb over the weekend or holidays. Every trip is a different place, different views, different location, different experience, different makan stalls. Why must die die stay at 1 place forever??

Some sinkies using local property mentality in JB.

 

[Kegler]

Dude, its always easy to take the risk free approach. Just because of a few failed projects doesn't mean the entire property market is terrible. Its like seeing a few car accidents on the road and then telling someone don't ever leave the house in the future.

Road accident is not a good comparison. Its not just a few bad apples.
It's more like buying lottery, the chances of winning is low. If u get lucky, u may recover some but mostly lost.

 

[ahboy82]

Then how eco botanic can buy??

 

[FrogGreen]

so he offload his EC and flip for a JB condo? did he come here for advice?

You know there are Malaysian property agents lurking in this forum ??

always singing praise about Malaysian properties.

 

[iCubes]

Road accident is not a good comparison. Its not just a few bad apples.
It's more like buying lottery, the chances of winning is low. If u get lucky, u may recover some but mostly lost.

I think its a good comparison because both situations illustrates how little control you have over external forces but one still can decide to take a calculative risk for some benefits/gains. What you are advising is living life by avoiding all risks, which is an extreme approach.

Your alternative comparison of buying lottery is even worse because its 100% dependent on luck, which isn't true in property buying. If that's how you make decisions, you really shouldn't be giving advice.

 

[Mecisteus]

Rent for what?

CNA already did the legwork and tell you is not legal and can get banned anytime for overstaying unless you intending to jsut stay there every weekend or so.


Which part you don't understand?

In the meantime, she added that the couple will continue commuting from Singapore to Johor Bahru via social visit pass to visit their home.​

​

However, Alter Domus’ Mr Ch’ng warned that foreigners who stay in Malaysian property for long stretches without a long-term visa risk running afoul of Malaysian immigration laws and could get their identities blacklisted and barred from entry.​

​

He explained that under Malaysia immigration laws, foreigners with no long-term visas are not permitted to stay in Malaysia for longer stretches than the duration they stay outside of Malaysia.​

​

“For example if (a person on social visit pass) stays (for) 28 days in Malaysia, you have to stay outside the country for 29 or 30 days before you can come back in. If not, your travel pattern might raise alarm bells and you might be barred from entry,” said Mr Ch’ng.​

https://www.channelnewsasia.com/asi...oreigners-residency-properties-delays-4006451​

Aiyoh we are aware of the rules lah.

But if you're not smart enough to play by the rules, then here are your options:

1) Forget about retiring in Msia
2) Apply MM2H and buy Msia property if you insist

 

[testerjp]

Aiyoh we are aware of the rules lah.

But if you're not smart enough to play by the rules, then here are your options:

1) Forget about retiring in Msia
2) Apply MM2H and buy Msia property if you insist

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.

 

[Kegler]

I think its a good comparison because both situations illustrates how little control you have over external forces but one still can decide to take a calculative risk for some benefits/gains. What you are advising is living life by avoiding all risks, which is an extreme approach.

Your alternative comparison of buying lottery is even worse because its 100% dependent on luck, which isn't true in property buying. If that's how you make decisions, you really shouldn't be giving advice.

I didn't give advice....it's all from friends who got burnt by buying Malaysia properties, Singaporean and Malaysian friends.
One of the most common problem is mgmt fee in arrears , insufficient sinking funds
Lack of buyers as Malaysian wants landed and non Malaysian will only want new property
Malaysia politic may look stable now, but when new gov takes over, will the process remains or new process.
Lastly, MYR is a restricted currency

 

[iCubes]

I didn't give advice....it's all from friends who got burnt by buying Malaysia properties, Singaporean and Malaysian friends.
One of the most common problem is mgmt fee in arrears , insufficient sinking funds
Lack of buyers as Malaysian wants landed and non Malaysian will only want new property
Malaysia politic may look stable now, but when new gov takes over, will the process remains or new process.
Lastly, MYR is a restricted currency

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've been telling people around me not to buy but rent....I guess they just haven't got their hands burnt
It's good for such news to warn people of the threat. Singaporean are too naive for overseas property

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.