Property in Johor

[Flying_genie]

Feel like laughing at his misery. What did he expect? China developer with Malaysia QC. Pay peanuts, get monkeys lor.

[Neost]

at least he can still get the key to go inside, take pictures and make noise

How many actually can't even see to the project completion?

Another issue is how about maintenance to the common areas huh? 

[awhtc]

The Chinese developers build condos in JB at amazing speed.  Now we know that they cut a lot of corners and ignored QC to achieve that.

[RogerNg_185295]

8 hours ago, Flying_genie said:

Feel like laughing at his misery. What did he expect? China developer with Malaysia QC. Pay peanuts, get monkeys lor.

How much he paid?

[Wt_know]

1 minute ago, RogerNg_185295 said:

How much he paid?

ji pa ban ringgit ....

Edited October 9, 2019 by Wt_know

[awhtc]

The key defect is water proofing not done. The rest are not difficult to fix. It is just hard for the buyer to accept such QC.

[Flying_genie]

1 hour ago, RogerNg_185295 said:

How much he paid?

RM1 m

[Thaiyotakamli]

Actually for RM1million, this unit very cheap, all marble, good size and location very nia to CIQ and sg. 

 

If in sg this condo would be priced at least $2-3m lol

[Dankoo]

went to the R&F mall recently, the area also bo lang and poorly built...the deco looks quite dated for a new mall...

[awhtc]

Usually, it takes about 3-4 years for a condo to be > 90% occupied in JB.  For new retail areas, it will take > 4 years, and some never take off.

[Wt_know]

9 hours ago, awhtc said:

The key defect is water proofing not done. The rest are not difficult to fix. It is just hard for the buyer to accept such QC.

especially when you paid 1,000,000 .... wa si wa wu ji pa ban .... with the mortgage probably $1.5M liao !

Edited October 10, 2019 by Wt_know

[Wt_know]

8 hours ago, Thaiyotakamli said:

Actually for RM1million, this unit very cheap, all marble, good size and location very nia to CIQ and sg. 

If in sg this condo would be priced at least $2-3m lol

anything compare to sg is fking cheap la ... punggol resale hdb already $700K hor ... don't play play

with rm 2.1m can get a 5000 sqft landed

Edited October 10, 2019 by Wt_know

[Thaiyotakamli]

3 hours ago, Wt_know said:

anything compare to sg is fking cheap la ... punggol resale hdb already $700K hor ... don't play play

with rm 2.1m can get a 5000 sqft landed

Thats half GCB liaoooo

[HP_Lee]

On 10/9/2019 at 12:32 PM, Flying_genie said:

Feel like laughing at his misery. What did he expect? China developer with Malaysia QC. Pay peanuts, get monkeys lor.

It is very sad to see these people any-o-how invest property, based on following the herds. A RM 1million condo is way over priced in Malaysia.Worst still for those who bought into attractive township sold by various developers. Is not that we better to invest in Malaysia properties. I have seen people invest in Singapore condos, but ended up unable to get rental yields to cover the loan and maintenance of property.  Is all about how to invest property in a well-thought of the downsides, rather than looking forward the upsides. I have a few friends that managed this well, due to their experience in Malaysia JB properties. Here are some advise for those who want to invest in Malaysia properties :

1. Never buy condo for more than RM500k. Average local middle income earnings, that is the limit. This is to allow you to sell not only to foreigners, but to locals too.

2. Buy into smaller number of units of a development. For example , not more than a few hundred units.

3. This said development , must be near many eateries and supermarkets serving mainly nearby critical mass of residents in mature estates that is already supporting the shops.  But not the large shopping malls around that may in-turn make the place too noisy with traffic jams. This naturally becomes an unsafe place, where all kinds of people coming around.

4. The development must not be near to many other developments with huge number of units. It have to be mature development around.

5. Development that is near 10 - 15 mins drive to major industrial with many MNCs. If there is an airhub better still. But do ensure flights does not fly over the development, and is of a distance 8km -10km away. 

6. Hitting expressways of not more than 10 - 15 mins away.

Singapore property have own set of problems. Majority condo developments are targeted mass market. Many have flocked in between 2013 - 2016, paying as high as 900k of a 450 Square feet unit. How they find it hard to rent out, or rent at negative yield after all loans and maintenance deducted. Those who bought bigger units are also facing near negative yield after all loans and maintenance deducted, as of today. This group of property investors are mostly middle income earnings, praying that they don't lost their jobs, and sleepless nights for those on tight cash flows.

So don't follow the crowd. This have been the biggest weakness in human. I have to do much leg job and homework. Always look at the downside first, follow-by upside will take care of itself. Ever it things turn bad, one is already prepare with enough buffer ahead, by not throwing large investment blindly.   

[Flying_genie]

Good advice indeed

[Kklim]

On 10/8/2019 at 10:57 PM, Wt_know said:

where is the princess? muahahaha

Balek liao after showflat closed 😆

[Lava]

handover a house with some defects to the owner is a comment practice in Malaysia property market now.

developer rush to handover property to buyer within the contractual time frame to avoid paying overdue penalty and let the buyer

file and claim for defect complaint within the 2 years warranty period.

[Banz86]

1 hour ago, HP_Lee said:

It is very sad to see these people any-o-how invest property, based on following the herds. A RM 1million condo is way over priced in Malaysia.Worst still for those who bought into attractive township sold by various developers. Is not that we better to invest in Malaysia properties. I have seen people invest in Singapore condos, but ended up unable to get rental yields to cover the loan and maintenance of property.  Is all about how to invest property in a well-thought of the downsides, rather than looking forward the upsides. I have a few friends that managed this well, due to their experience in Malaysia JB properties. Here are some advise for those who want to invest in Malaysia properties :

1. Never buy condo for more than RM500k. Average local middle income earnings, that is the limit. This is to allow you to sell not only to foreigners, but to locals too.

2. Buy into smaller number of units of a development. For example , not more than a few hundred units.

3. This said development , must be near many eateries and supermarkets serving mainly nearby critical mass of residents in mature estates that is already supporting the shops.  But not the large shopping malls around that may in-turn make the place too noisy with traffic jams. This naturally becomes an unsafe place, where all kinds of people coming around.

4. The development must not be near to many other developments with huge number of units. It have to be mature development around.

5. Development that is near 10 - 15 mins drive to major industrial with many MNCs. If there is an airhub better still. But do ensure flights does not fly over the development, and is of a distance 8km -10km away. 

6. Hitting expressways of not more than 10 - 15 mins away.

Singapore property have own set of problems. Majority condo developments are targeted mass market. Many have flocked in between 2013 - 2016, paying as high as 900k of a 450 Square feet unit. How they find it hard to rent out, or rent at negative yield after all loans and maintenance deducted. Those who bought bigger units are also facing near negative yield after all loans and maintenance deducted, as of today. This group of property investors are mostly middle income earnings, praying that they don't lost their jobs, and sleepless nights for those on tight cash flows.

So don't follow the crowd. This have been the biggest weakness in human. I have to do much leg job and homework. Always look at the downside first, follow-by upside will take care of itself. Ever it things turn bad, one is already prepare with enough buffer ahead, by not throwing large investment blindly.   

That's extremely good advice here. I was lucky that I got my "investment" place when the market was low and my cousin who I had engaged as my agent, walked me through all the downsides of investing in a mass market condo. Once I had accepted the risks, she then walk me through and which are to focus on where I can at least maintain the purchase price.

Example: 5 mins walk to MRT, maturity level of the estate, what amenities are there in the estate, etc.

I did a lot of homework myself by walking around the estate, taking a 5 mins drive around the area and reading up on the area. I think that's something most "investors" should do so that they can gauge if the area is good for rental.

Back to the Johor topic, my cousin bought a few of these "excellent investment" properties and have regretted the idea. Now these houses has been converted into holiday homes as they can't be rented out nor sell to the locals as they are "too exp". I now take the opportunity to stay at her holiday home. Haha

Edited October 11, 2019 by Banz86