Announcement on loan-to-value ratio for properties very soon

Announcement on loan-to-value ratio for properties very soon

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...

Selayang Spring to launch 2nd phase in October

Selayang Spring to launch 2nd phase in October

You may view their website here... http://www.selayangsprings.com/

Young couples priced out of home market

Young couples priced out of home market

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 ...)

Some Nice Photo

Recently busy for my house renovation. Done some research and would like to share some nice design found in internet...

M Suites @ Ampang - Update 2

Received email below from Mah Sing

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.

TA Global to launch Damansara Avenue’s residential phase in November

TA Global to launch Damansara Avenue’s residential phase in November

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?

Another Empire Mammoth Art - Empire City

This topic is very hot in internet forum nowaday...

Empire City is a mega modern mixed lifestyle development. Empire City has retail shops, office suites, Lofts, studio suites, high end condominium, hotels and different thematic malls.

It will be constructed on 23 acres of prime land situated along LDP across from Mutiara Damansara and Damansara Perdana, ie PJ Golden Triangle.

Tentative Phases and developments:-

1) Studio Suites

2) Loft Offices

3) SOHOs

4) High end Condominium

5) 2 Premium Hotels

6) Thematic Malls including IT Mall, Lifestyle & Furniture Mall, Fashion Mall and Art & Culture Mall

7) Entertainment Street

This Empire City @ Damansara is expected to match Midvalley City and Setia Eco City if not better, in terms of lifestyle and concept.

1st Phase

• 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.

Sanderson Is Launching

Received SMS invitation for Sanderson launching this Sunday 19-Sep-2010. For those interested may contact 010-2211898.

Poser on whether real property gains tax will be raised

Another possible move by government to control of increasing property price ....

Poser on whether real property gains tax will be raised

Property 101 - Some Tips....

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
Sample
- 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.
..............................