Thursday, September 23, 2010
KUALA LUMPUR: BANK Negara is expected to make an announcement on the loan-to-value ratio for mortgages very soon, according to a source.
“Genuine home buyers need not worry as it will most likely be implemented on buyers making their third and subsequent house purchases, and be confined to specific locations and prices.
“These are only pre-emptive measures as currently there is no property bubble,” said the source, adding that genuine house ownership would still be encouraged.
Means for those looking for investment with low entry cost, should act fast fast before this new rules implemented. No doubt developer is very creative when come to property launch, however I believe this new rules might impact those who looking for zero or minimum entry cost type of investor...
Wednesday, September 22, 2010
Malaysian, you should feel lucky after reading this....
HONG KONG: Low-income families are being left behind in the battle to buy their own homes as soaring house prices push the cost of public and subsidised flats beyond their reach.
The story of Ann Kan, a young clerk who hoped to buy a flat with her fiance, is typical."We are getting married in November and still do not have a flat to move into, although we began trying to buy something half a year ago," she said.
The couple had hoped to buy a flat in a private housing estate with a budget of HK$300,000 (RM119,434.06) as a down payment, she said. (In Malaysia, 100k as downpayment can buy Semi-D or Luxury Condo liao....)
A 778 square foot flat in Yiu Chung House in the Yiu On Estate in Sha Tin was sold for HK$2.07 million on the open market this month, a record for a public housing flat (778 sft Public housing flat also cost RM1 million, this can buy studio at KLCC !!). The vendor bought the flat for HK$1.8 million in February. (Within few monthly price increase 10%+, did salry increase that fast too???)
"Second-hand HOS or public housing flats are now also too expensive. We could not afford to have a baby if we bought a flat, and we would rather have a baby." (Here you can have both baby and house ...)
M Suites Hits the sweet spot
Mah Sing Group Berhad held a preview for M Suites Embassy Row Jalan Ampang (M Suites) from 3-5 September. Prospective buyers started queuing up outside our sales gallery a day prior to the preview and the atmosphere was charged up as the gallery was packed with buyers. 100% of Phase One is fully booked; in fact, all the studio units are fully taken up with a growing waiting list. Even Phase 2 which was only previewed on Sunday has nearly been fully taken up.”
M Suites is located along Jalan Ampang next to Great Eastern Mall, and offers semi-furnished residential suites comprising studios and one, one plus one, two and three bedroom apartments. More than 5,000 projective buyers registered for the project over the past few months. Currently, the units are priced from RM610,800 for the smallest unit starting from 502sqft. Prospective buyers can still select choice units at the sales gallery on the 5th Floor of The Icon Jalan Tun Razak which is open daily from 10am – 6pm including Sundays and Public Holidays.
The project comprises 442 units in two towers designed to optimize views of Ampang and the city center. There will be retail outlets on the ground floor of the development as well as recreational facilities such as swimming pool, and a podium roof garden. The units are designed for those who seek a middle- to upper-range apartment near the city and are expected to provide a strong rental yield. More information is available on http://www.m-suites.com.my/
You may also log-on to http://www.mahsing.com.my/ or call 03-2162 8282 for show units viewing.
Tuesday, September 21, 2010
KUALA LUMPUR: TA Global Bhd is looking to launch the first residential phase of its RM3.8 billion Damansara Avenue in Bandar Sri Damansara in early November
Meanwhile, its first residential phase known as Azelia Residence, will comprise 250 units of high- and low-rise residences with sizes from 600 to 3,400 sq ft. It will be launched via its priority preview, which has received more than 4,500 registrants, the developer said. Indicative prices for the residential units are above RM500 psf.
This place also sell at RM500psf??? This market abit over now.... However heard that the 80% cap will be implement soon end this year, will this impact the house price?
Monday, September 20, 2010
- A Block of Studio suites, consisting 700 units, in an iconic 38 Storey Tower will be opened for booking soon.
- Studios are approx 500sf
- Studio Suites are fully furnished and approx RM30K to RM40K is to be spent on fully furnishing each studio suite.
- Tentative and Indicative pricing depending on floor levels and facing, ranges from RM220K to RM300K.
- Developer is working on DIBS scheme.
Friday, September 17, 2010
Friday, September 10, 2010
Poser on whether real property gains tax will be raised
Thursday, September 9, 2010
In property investment, you will engage with real estate agent when buy or sell your house. Therefore it is quite important for you to understand how real estate company function to ensure you cut the cake in your favour.
Real estate company make living by completing a sales between Buyer and Seller. They take certain percentage from the total sales value. Usually between 2-3%. Out of this 2-3% of commission, 1-2% will go to the property agent pocket.
For example if a property transaction close at RM100k, then the commission charge to Seller will be around RM3000. The real estate company may take up RM1500, and RM1500 will be given to the property agent. This means, property agent main interest is to close the deal.
Let's assume there is a situation below
- Seller A want to sell his house at RM500,000
- Buyer B want to buy the house at RM450,000
- The commission charge to Seller is 3%
- The commission earn by the property agent is 1.5%
If the deal is close at RM500,000, then agent will get RM7500 as commission
If the deal is close at RM450,000, then agent will get RM6750 as commission
If the Seller and Buyer cannot reach an agreement on the price, then the property agent will get RM0 as commission.
By the way, property agent is also kind of professional mind reader when come to property. The face different kind of Seller and Buyer everyday, and they easily can see which party is interested and which is not.
For situation above, if Seller A is eager to sell than Buyer B, this can easily spot by the property agent. As the agent mission is to close the deal, the property agent will try to convince the Seller sell at lower price so the Buyer will get interested. Even though it means the property agent will get lower commission, but it is OK for them as they rather earn slightly lower commission at RM6750 than get RM0 commission.
So...play smart when you deal with the property agent .... always remember that they are mind reader.... when you hear thing like this below, think twice before you register it into your mind
- Someone already make an offer to buy this house, if you seriously want it, please pay the booking fee now so I can reserve for you .
- There are many people interested in this unit, act fast if you want it.
- Not many people interested, you need to lower your asking price.
- You house condition is so bad, your asking price is very difficult to get.
Wednesday, September 8, 2010
I visited Opal Damansara @ Sunway Damansara and Sterling PJ @ Kelana Jaya recently. Both condominium are about same size 1400sf++. While Opal Damansar is selling at higher price (>RM100k) Sterling PJ.
You as Buyer
You would like to buy a house and the owner insist on the selling price. Eventually you only manage to get RM10k discount for a RM700k house?
You as Seller
You would like to sell your house at RM500k, but end up selling at RM450k after few round of negotiation with the buyer?
WHY SO ???
Why when you are buyer, the seller only willing to give you small discount even you have try hard to get more discount? Why when you are seller, the buyer only offer to buy the house with much lower price?
The answer is simple, not everyone of us are good negotiator.
We may good at certain skill, but not all skills including negotiation.
Have you ever think, if there is someone you can employ to negotiate on behalf of you, and you will be able to get additional RM50k discount when you buy a house, or you will be able to sell your house with extra RM50k?
This job is something new in the property market, and not everyone ready to accept this kind of concept.
- First is people tend to think they are good negotiator.
- Second is people tend to trust the agent more (Will write some article about this later).
- Third is people is not willing to pay for this service.
If you are the person, and the negotiator is charging you RM10k to represent you, and he can help you to earn extra RM50k or get extra RM50k discount, are you willing to pay for his/her service? Will you???
Sunday, September 5, 2010
City&Country: My Dream Home 2010-- Living the dream
Saturday, September 4, 2010
Security is the main reason that I choose Condo over Landed House. I wanted to ensure my family is live in "safer" place, especially when I am away to work. It is very hard to find affordable (RM500k++) gated and guarded landed house within KL/PJ area, unless I explore further to outer area like Kota Kemuning or Setia Alam.
Saw this article in TheStar today...seem like I am not the only one doing so, as there is a trend that people start moving to Condo instead of Landed House...see below..
A rising trend for condos - StarProperty.my
Thursday, September 2, 2010
PETALING JAYA: Bank Negara is engaging with banks on possible measures to curb excessive speculation on property prices while developers caution that it should not be imposed across the board to avoid dampening the property market.
When contacted, banking industry players said it was likely that any measures to be introduced would be pre-emptive measures to target certain quarters of purchasers and would not be across the board.
The measures are believed to be targeted at the high-end and non-owner occupied house purchasers.
But following a rise of between 10% and 30% in the prices of landed houses in some parts of the Klang Valley (including Kuala Lumpur) and Penang in the past one year, banking sources said Bank Negara might be looking at discontinuing the 5:95 and 10:90 housing loan packages, and preferred banks to impose higher downpayment for property purchasers.
“If it is implemented, home buyers will have to self-finance a higher amount than they do now. In the short term, coupled with entry costs such as legal, stamp and valuation fees, the property market will take a dive and it will subsequently dampen the mortgage business.
Wednesday, September 1, 2010
Key Asian economies fearing a US-style housing market bubble are taking fresh measures to curb runaway property prices as the region leads the global rebound from recession.
China is also trying to rein in buyer exuberance by tightening credit and imposing other regulations that make it tougher to buy and sell property. Beijing has tightened restrictions on advance sales of new developments, introduced curbs on loans for third home purchases and raised minimum downpayments for second homes.
Singapore's latest measures are aimed largely at buyers who have at least one outstanding mortgage.The minimum cash downpayment was raised from five to 10 percent of valuation, while the maximum amount a bank can lend was capped at 70 percent, down from 80 percent.
The balance can be taken from a buyer's pension fund."This round of tightening appears to be the most draconian," said CIMB bank analyst Donald Chua
Malaysia... higher interest rate? higher property tax?? maximum 80% loan ???
PETALING JAYA: The Employees Provident Fund (EPF) will invest £1bil (RM4.88bil) in properties in the UK, the pension fund said in a statement yesterday. (Guess is because UK pound exchange rate is very attrative now and the property price is relatively cheaper then previous...)
“The stable and highly liquid UK property market underlies the rational behind the move,’’ it said.
The EPF said that although it had a policy to pursue overseas investments, the fund is also “aggressively exploring the market” in Malaysia. (With EPF fund size, easily can purchase dunno how many blocks of condo or how many taman(s) at one shot...goreng goreng ...)