New and Improved MM2H

[Firstclass1188]

Exactly. Can prata anytime.

They seem to change for better this time, hope more prata.

 

[koster]

They seem to change for better this time, hope more prata.

Even if this govt is ok, there's risk that the next one is not ok.

 

[andyhtc]

Anwar’s Popularity Dives Before Anniversary as Malaysia’s Economy Weighs​

• Anwar’s approval rating falls to 50% from 68% in December
• Voters cite economic concerns as the biggest issue: Merdeka

https://www.bloomberg.com/news/arti...ty-dives-before-anniversary-as-economy-weighs

 

[andyhtc]

Things could flip if Anwar loses the next election.

 

[kitsura]

Mind if I ask if the properties located in KLCC?

I don't really care, I only know it is a SOHO property so it is not only 15% over-valued due to lack of bumi discount, it is also more expensive due to it being dual use.

Even talking about normal products like watches or car, who in their right mind wants to pay more for the same thing? And I also know most locals would rather live in landed not squeeze in boxes in the sky like SG.

But he is a stubborn boomer who thinks he is a better investor than W.Buffett having 'never lost money before' in his own words. So I leave him to his own devices.

You can lead a horse to water, can't force it to drink. In his case you won't even get 1 step to the water before he starts saying limpeh kah lu kong.

 

[kitsura]

Those I know broke even, they only did so because they had developer's discount, they may lose the furnishing cost.



I missed this as it sold flying off so fast by Singaporean Malay.

Buy property to lose money is stupid leh...even in SG buy HDB also can make money. It is whether more or less only. Your risk so high since property is not considered liquid assets as it takes lots of time to offload. If you break even you already lose due to opportunity cost and time value plus your own time and effort which costs money.

 

[Firstclass1188]

I don't really care, I only know it is a SOHO property so it is not only 15% over-valued due to lack of bumi discount, it is also more expensive due to it being dual use.

Even talking about normal products like watches or car, who in their right mind wants to pay more for the same thing? And I also know most locals would rather live in landed not squeeze in boxes in the sky like SG.

But he is a stubborn boomer who thinks he is a better investor than W.Buffett having 'never lost money before' in his own words. So I leave him to his own devices.

You can lead a horse to water, can't force it to drink. In his case you won't even get 1 step to the water before he starts saying limpeh kah lu kong.

Soho probably means commercial title, not for residential purposes, all taxes and utilities are higher therefore no takers, he should have done his homework, sorry that you may be emotionally scarred from this episode.

As for me, I have 2 generations of property investing in my belt, my dad made mistake by not buying coffeeshop. But he did teach me principle of Anak

Once I start living in JB I will start scouting for F&B properties.

 

[Firstclass1188]

Buy property to lose money is stupid leh...even in SG buy HDB also can make money. It is whether more or less only. Your risk so high since property is not considered liquid assets as it takes lots of time to offload. If you break even you already lose due to opportunity cost and time value plus your own time and effort which costs money.

Yes but you see alot of people buy property pay ABSD and renovate their homes for hundreds of K, also throw away money, as I said as I am at 30 percent threshold, even a small $1m property purchase would attract $300k ABSD, that's why for my number 4 purchase, I did JB, number 5 may be Oz.

 

[kitsura]

Soho probably means commercial title, not for residential purposes, all taxes and utilities are higher therefore no takers, he should have done his homework, sorry that you may be emotionally scarred from this episode.

As for me, I have 2 generations of property investing in my belt, my dad made mistake by not buying coffeeshop.

Once I start living in JB I will start scouting for F&B properties.

My dad bought and sold a coffeeshop for 400k loss. But he never brings that matter up. I have lost money but never so much before (around 50k due to trading losses and bad debt). Now I am doing lots of research before considering which property to get once i flip my HDB (fully paid) and liquidate all my other investments. I have already struck MY off the list of countries to look in.

 

[inmyopinion]

Things could flip if Anwar loses the next election.

PH didn‘t win. He is the PM because the King asked PH to work with BN or whoever parties who are wiling to form the Unity Gov.

Look at all the policies which Anwar flipped when he was opposition vs now he is the PM.

Even DAP the Chinese opposition also flipped after they become part of the Unity Gov.

How to trust those who have ZERO integrity?

Listen, smile smile can lah.

I have said this b4 and continue to say this. “If I am a Malaysian and have young children, I will encourage them to leave the place as soon as possible for better future”

 

[Firstclass1188]

My dad bought and sold a coffeeshop for 400k loss. But he never brings that matter up. I have lost money but never so much before. Now I am doing lots of research before considering which property to get once i flip my HDB (fully paid) and liquidate all my other investments. I have already struck MY off the list of countries to look in.

Oh yes those were the days of coffeshop sales when your dad sold, my dad should have bought.

After what your dad went through, I understand you, but my dad I'm 1990s did not buy a semi d in Jalan Storey, if he did, that property would be next to Bukit Chaggar station, now I go on vengeance with JB

 

[OngHuatHuat]

I don't really care, I only know it is a SOHO property so it is not only 15% over-valued due to lack of bumi discount, it is also more expensive due to it being dual use.

Even talking about normal products like watches or car, who in their right mind wants to pay more for the same thing? And I also know most locals would rather live in landed not squeeze in boxes in the sky like SG.

But he is a stubborn boomer who thinks he is a better investor than W.Buffett having 'never lost money before' in his own words. So I leave him to his own devices.

You can lead a horse to water, can't force it to drink. In his case you won't even get 1 step to the water before he starts saying limpeh kah lu kong.

Actually most Malaysians buy houses without bumi discount, no need to keep emphasizing it. Bumi discount only available to Bumi and those properties are hard to sell, coz you can only sell to Bumi.
The main problem with the property normally lies with high purchasing price for new properties means much higher than surrounding properties. I made that mistake once and still recovering from
It.

 

[kitsura]

Oh yes those were the days of coffeshop sales when your dad sold, my dad should have bought.

Around 4-5 yrs back SG industrial properties were the rage. Now it is back to residential. I also refuse to pay ABSD so have to sell off my home before buy another one. I will then relocate my butt to maybe TH or TW and rent. Maybe even JP like Chicken Genius.

 

[kitsura]

Actually most Malaysians buy houses without bumi discount, no need to keep emphasizing it. Bumi discount only available to Bumi and those properties are hard to sell, coz you can only sell to Bumi.
The main problem with the property normally lies with high purchasing price for new properties means much higher than surrounding properties. I made that mistake once and still recovering from
It.

Isn't the majority of the population bumis? According to this website it is more than 70% https://www.statista.com/statistics/1017372/malaysia-breakdown-of-population-by-ethnicity/

You are correct that what Singaporeans find cheap, might be unaffordable to locals, especially bumis. And since you can't sell to the majority of the population, your target is only the minority races (who are poorer) and other foreigners. Good luck finding a buyer in such a market.

 

[halocast]

if they keep flipping .. makes it difficult.

 

[OngHuatHuat]

Isn't the majority of the population bumis? According to this website it is more than 70% https://www.statista.com/statistics/1017372/malaysia-breakdown-of-population-by-ethnicity/

You are correct that what Singaporeans find cheap, might be unaffordable to locals, especially bumis. And since you can't sell to the majority of the population, your target is only the minority races (who are poorer) and other foreigners. Good luck finding a buyer in such a market.

Bumi got their cheap properties in Malay villages, you don’t expect them to buy from
you. Your only target buyers are Malaysian Chinese and other foreigners.
Minority races are richer in general

 

[Firstclass1188]

Isn't the majority of the population bumis? According to this website it is more than 70% https://www.statista.com/statistics/1017372/malaysia-breakdown-of-population-by-ethnicity/

You are correct that what Singaporeans find cheap, might be unaffordable to locals, especially bumis. And since you can't sell to the majority of the population, your target is only the minority races (who are poorer) and other foreigners. Good luck finding a buyer in such a market.

Majority are Bumi, but the real wealth are held by the non Bumi, so factoring Bumi discount should not be blamed for high price.

If you buy a Bumi lot, that's where you are exposed to the danger of prata, they may seize back ownership of the property when you pass.

Danger, avoid, go for international lots free from encumberances.

 

[kitsura]

Majority are Bumi, but the real wealth are held by the non Bumi, so factoring Bumi discount should not be blamed for high price.

If you buy a Bumi lot, that's where you are exposed to the danger of prata, they may seize back ownership of the property when you pass.

Danger, avoid, go for international lots free from encumberances.

I have been talking to property developers in Chiang Mai and getting a landed for around $200k is possible plus there are discounts. But I also don't want to lock up so much capital and I'm wondering if the banks are keen to give mortgage to foreigner and you need to find trusted partner since you can only own 49% of land. Maybe UK much easier.

 

[andyhtc]

I don't really care, I only know it is a SOHO property so it is not only 15% over-valued due to lack of bumi discount, it is also more expensive due to it being dual use.

Even talking about normal products like watches or car, who in their right mind wants to pay more for the same thing? And I also know most locals would rather live in landed not squeeze in boxes in the sky like SG.

But he is a stubborn boomer who thinks he is a better investor than W.Buffett having 'never lost money before' in his own words. So I leave him to his own devices.

You can lead a horse to water, can't force it to drink. In his case you won't even get 1 step to the water before he starts saying limpeh kah lu kong.

Developers convert most of their bumi units into international units after 2-3 years of no sale because the majority of the bumis will not buy them at such high prices.

Only desperate non-bumis buyers will buy the bumis units if the project is fast selling out. However, that will affect the resale price as no bumis will not pay an even higher price.

 

[OngHuatHuat]

I have been talking to property developers in Chiang Mai and getting a landed for around $200k is possible plus there are discounts. But I also don't want to lock up so much capital and I'm wondering if the banks are keen to give mortgage to foreigner and you need to find trusted partner since you can only own 49% of land. Maybe UK much easier.

You mean you intend to pay 200 k sgd for a property in chiang mai? What is the point?