Is market still hot?

Market for developers will still be hot when buyers can just pay RM5000 downpayments to buy a RM1 mil property and zero interest and no installments till completion ... too bad subsale cant employ similar loophole / trick ... the game will be over soon for new launches, while for subsale i think it is over now ...

IMHO, there are too many luxury homes built for too few buyers to absorb especially in condo. Genuine buyers are still out there for decent priced housing while actual buyers for luxury homes would be targeting at strategic located neighbourhood with amenities.

Speculation can push up the prices to certain period of time and limit. Even without the present Bank Negara ruling on loans, the price of houses would eventually drop down to earthly pricing due to supply and demands.

Still properties prices tends to go up gradually due to diminshed land banks especially in Klang Valley and cost of raw materials from cement and steel.

The POST by Joe answering this question has absolutely nailed it!Joe ....you speak the truth.This secondary market is dead.It is as dead as a dried up corpse.Joe is 100% correct in that he recognizes that the market from developers with a 5k deposit is completely different than the secondary market where REAL people with REAL money have to put down REAL deposits and then in 90 days pay off a REAL large sum and make REAL regular installments.The developer game is essentially a ponzi scheme lottery shell game.The secondary market could be better but to be better you need to show REAL people with REAL money WHY they should make an investment in Malaysia.Whether they are foreigners or Malaysians show them a REAL NETT yield or a reason to invest for capital gain where yopu need a lively secondary market and frankly Malaysia presently, in most suburbs ,does not offer an attractive investment.So the only lively market is the market buying from the developer as Joe says where 5k will buy you a ticket to play the ponzi game!..or find the greater fool to buy it off you scam!

anybody can enlighten me where i can find data on residential vacancy rate in KV?

We use to see very general statistic from newspaper that telling % of selling and vacant especially in KLCC or mont kiara. The statistic only tells us 1 side of the story, for example, it never tells us there is an owner holding more 10units since day 1 for sale and never rent out. Ordinary people will just judge from statistic and say surplus, or see from outside of the building, it is oversupply because of no light no curtain cant rent out. Some owners will tell you this profile i dont want, that i dont want, then a year later the unit still vacant. Got some even set pricing they want, come or go, after that 1yr gone, 2yr gone, the unit still vacant...

What does the statistic tell you? It just a figure of vacant or sold, it never tell you actual facts behind. Whereas i have met many owners like above in both KLCC & mont kiara.

we are in the cycle whereby ghost houses are everywhere in ghost town with some ghost buyers buying at this ghosty period to gain some ghost buyers' interest to buy their ghosty investment.

Yes ply nailed it too.Ghost towns all over.Developers sell the 5k deposit game to eager gamblers who try to off load to the greater fool fast!But the secondary market stays dead.Agents try to inform NEW buyers that vendors are strong hands and they can hold .Well that game worked in 2008 but now in 2012 those SUPPOSED strong hands are becoming decidedly weak.Frankly they are starting to tremble!...3 /4years of paying maintenance ,quit rent and assessment with no tenant waiting for the market to strengthen led them nowhere but left them with a big hole in their bank account.Now the hands are starting to tremble as they see the ghost towns grow and so the vendors are either forced to offload at a loss in many cases or rent out fast at a discount.I have seen this in 3 very recent cases around KLCC.These are NOT true strong hands as agents would like to make buyers believe.Unfortunately the majority of agents have no concept of just how difficult it is to hold empty units for long periods.The good news for buyers is that there is no improvement in the rental situation or the oversupply situation so frankly buyers should start making a shopping list of what places they want.We are at a tipping point and the edge is getting closer by the day.Dreamers, beware that real investors want to see 'real returns' and so the market ultimately will be' forced 'into offering up good deals to attract 'REAL BUYERS WITH REAL MONEY'.This is the ONLY way to see a reduction in ghost towns.Gamblers may throw away 5k deposits easily BUT real investors think long and hard before making their commitment in any market place.A real investment is for a long time.Go ask Warren Buffet!

Zero payment till completion and 5% down payment in theory works great for me as a home buyer. In fact, this is supposely to be the way of selling properties in Malaysia, not buying uncompleted houses and ended up owning incomplete house by developers who gone kaput.

Practically with this year Bank Negara rulings, real estate properties speculators are actually finding it hard to get loans.

So, for those who participate in the game right now with all the new incentives, they are more or less in the position to invest or speculate. Just my 2 cents.

Hi All,Im still new to this line ..Just here to ask is it the area mention as above have a higher price as it is freehold and built up at majority luxurious residences?

I heard got 1unit avare transacted last month and 1 unit izenII last week.

I think area we are talking here price is 500~700psf (mont kiara) & 1000~1300psf (KLCC) in general.

Just heard from owners 2more unit penthouse in putri palma sold early this year. Burble???? People still buying.. : )

Like verve suite the launch price is 570psf
but today it drastically rise to 900-1147psf~

I hope to see $$$ goes down, unfortunately waiting for 1 yr price still goes up. Worst is owners tend to hold back from selling.

If burble burst, agent die first or owner?

Owners' fate first, then developers', then banker, then lawyers' that focus on housing transaction, finally is agents...

and the big winnners are, cash holders and cash rich buyer-in-waiting, and oscar-winning-most-patient-investors...

If bubble bursts agents wont die ... becoz prices become cheaper and more supply ... agents make money based on activity not high price ... just like when gold price goes up jewellery shops are very upset, but when gold price is low, jewellery shops business will boom!