Happy Garden - See Hoy Chan

Next to G-Residence, selling at RM450psf... translated to minimum RM600k per unit !!!

Summer Suites - SOHO

A Very Futuristic Building - Point 92

Recently there are quite a number of development around Damnsara Perdana area. Not mentioning existing taikor - MK Land there, Crest Builder, Empire Mammoth invested few projects there(Empire Damansara, Empire City).

Now there is another new office tower, Point 92, target completion 2012. It is just located right next to the PJ Trade Center (or sometime people called it Bata shoe building). The design look very futuristic, is developed by same developer of PJ Trade Center.

Further details can be found at http://www.point92pj.com/

Flexible

My condo renovation is near the end, renovation work should be complete by next week. During these few months periods, I have deals with about 20-30 contractors/suppliers/seller for different works & products.

I consider myself as a very details person, with project planning, budget, technical drawing and design. I prepare all these "documents" myself as I want to ensure the house is design as per my wish, and more importantly is, I don't really "trust" renovation contractors.....

In these few months, I notice that finding a contractor whom offer good price is important, finding a contractor that is friendly and helpful is quite important, finding a contractor that is flexible and "discuss-able" more important !

Reason being is no matter how details a person is, you will sure miss out something, either your designer/contractor forget to tell you, or don't want to tell you. When you trap by this kind of situation, only those "flexible contractor" can help you.

I have many examples in this case, but most memorable one is with YT Lighting Puchong, whereby I bought 6 units of fan from them as they are authorized KDK dealer, and they offer good price. The lady boss is a very friendly person during the sales process. But, when I notice that one of the fan cover is missing from the box, I try to contact her to get a replacement. Suddenly a friendly boss become a bitchy boss. She claim I lost the cover, and not willing to provide me the replacement. The only thing she will do is contact KDK factory and get them check whether the fans cover is missing during packing at factory. WTF! What kind of reason and excuse is this? Cheap & Friendly boss, now I learnt another lesson....

Some Good Quote From Guru - Milan Doshi

One key skill that you must develop to become a professional property investor is to acquire the ability to accurately see into the future as property investment is for the mid- to long-term. As you acquire more knowledge and experience over the years, this skill will somehow become second nature to you.

For example, when I arrived in Kuala Lumpur in early 1994, I took a long drive (there was no SPRINT expressway back then) from Bangsar Baru to check out the landed properties in Taman Tun Dr Ismail. Back then, the land at Bandar Utama was just being cleared and I was wondering why anyone would want to stay in a property so far away from town. If I recall correctly, double story link houses in Bandar Utama were sold for around RM350,000 then. 16 years later in 2010, house prices there are more than RM750,000.

Today, I know of a few upcoming and better designed townships that reminded me of the Bandar Utama of 1994. Having seen how Bandar Utama and its surrounding areas have transformed, it’s not too difficult to imagine how these new townships will eventually look like in the hands of a reputable developer. Hence the risks for me to invest in these new townships are much lower compared to someone who is just starting out.

How Much Will A Landed House Cost In Year 2015?

Seeing the crazy property price now, I am a bit scare to imagine, how much will a double storey house cost in next 5 years time ???

I done a simple calculation, using assumption that a property price will appreciate 10% per year
- In reality, property appreciate more than 15% in past few years in some popular area
- In theory it should be around 7-8%, and they might be some depreciation during economy downtime

Let say I put aside all other factor, below is the estimated property price at few prime areas, in year 2015.

Look like you may need to have RM1 million, to own a double storey house in year 2015?

Questions are:

Can you afford to buy and pay for RM1 million house in year 2015?

Will will salary increase at the same or better pace than the property price?

Or shall we start think of other alternative way of earning money to keep up the pace?

Or should we start buying it now since still "not so high"?

Or is there any possibilities the property price will drop in next few years like UK and Australia?

First home scheme to attract young buyers - StarProperty.my

First home scheme to attract young buyers - StarProperty.my

To promote home ownership among Malaysians, the Government has proposed to introduce First Home Scheme whereby Cagamas Bhd will provide a guarantee on the 10% down-payment for houses priced below RM220,000.

The scheme is for first-time house buyers with monthly household income of less than RM3,000. It is aimed at young adults who have just joined the workforce.

With the guarantee from the national mortgage corporation, it means that eligible house buyers will be able to obtain a 100% loan.

First-time house buyers will also be given stamp duty exemption of 50% on instruments of transfer on a house priced at not more than RM350,000. The Government has also proposed stamp duty exemption of 50% be given on loan agreement instruments to finance such first-time purchase of houses.

Honda Insight

What is the trend nowadays ? - Living in gated community - Eating organic food - Environmental friendly, no plastic day - Getting a pets - Driving hybrid car Good news is, Honda is bringing it's new hybrid car to Malaysia next month ! "Honda Insight". Is economical version of Toyota Prius... can't wait to try it..hopefully the price is cheaper than Honda Civic Hybrid...

Setia Alam - Gloriosa (20 x 70 DSL) at RM588k

Requested to review this property. Launch this weekend, details as below

Size: 20 ft x 70 ft

Price: RM588,000

DIBS - Developer Bear Interest Scheme

Scheme: 5/95 (Mmm..only apply to those who have < 2 properties ?)

First impression, Setia Alam house nowadays no longer "cheap". In fact, I feel it is very expensive, so do Bandar Kinara. Not sure is good sign, or bad sign; as this year, lot of properties at "not so expensive" area suddenly become expensive.

DSL at Bandar Kinrara is selling at RM600k-RM700k. DSL at Setia Alam is also approaching RM600k. What will happen next year? Will it up another RM100k?

Imagine, how can a normal working individual, or couple can afford to buy house at RM700k? It will cost them RM3000 - RM4000 for monthly bank installment !!! Crazy, crazy, crazy....

For those looking for investment, they should be prepare to fork out at least RM2000 per month, just to pay the bank mortgage. The rental at this area probably will fetch only RM1000, means the investor need have spare cash every month to cover the monthly mortgage payment.

While for "cash rich" buyer, their only hope of return is capital appreciation. I not sure how much a DSL at Setia Alam will be able to sell next year, or next next year. But I know, the price at this area have almost increase 50% or more compare to those purchase it 3-4 years ago. While price at Setia Eco Park (high end) have almost double. Assume if it appreciate another 50% after 3 years, means a DSL is selling at RM882k in year 2013 !!!

Is this a good buy? Not sure actually, however I like Setia Alam township concept, if this is property is build with Gated and Guarded concept, maybe it be a better bet. Unless I am so cash rich, and not sure where to spend, and don't want to think so much, then just whack it lar, worse case, earn RM100k in 3 years time also not bad.....

Facebook Poker - http://www.cheapfbpokerchips.com/

Met with some of my old time friends today, notice that I am quite "out dated" after chatting with them. They are talking about Facebook game, especially the Texas Poker game. I can see how addicted they are into Facebook games....

Imagine some of them are actually spending real money to buy virtual poker chips !!! Decided to search around Internet and found this website...

http://www.cheapfbpokerchips.com/

Seem like life become more and more interesting now with facebook around...