YTL, The Saffron, in Sentul launched in 2oo6 at RM220 psf, today around RM475 psf.
YTL again, launch in early April 2011, The Capers, in Sentul East (sold out), at around RM575 psf.
The developer, had consider at one point, to sell at RM800 psf.
Between 2006 and 2011 (about 5 yrs)
RM220 psf ----------RM450 psf ----------RM575 psf--------- RM800 psf?
Those who invest at RM220 psf must be laughing to the bank by now.
Bubble, where got? Sold in 2 days. Where got property price goes down? Never heard of it lah, especially by YTL. No brainer la.
Anyway, this is only few of the example, Surian Condo at Mutiara Damansara, lauching around RM600 psf, Mah Sing near Mont Kiara launching around RM800 psf, Sunrise launching solaris dutamas 4 years ago around RM400 psf, now is RM570 psf, Another one near Solaris Dutamas launch lately RM650 psf. Not sure if most of them snapped up, but the frenzy is here to stay. I wonder if household income double over the last 5 years.
MyView
Hmm, maybe demand is more than supply of condo in KL/PJ? Why the frenzy, during the peak, interest is as high as 10%, now it is below 4.2%. This time its different. Oil price has went up, construction cost has went up, so, must sell higher to cover the cost. Last time oil price USD50 per barrel, now is USD108 per barrel.
So, lets not fight the wave, at the moment it is POSITIVE for property market, period. When will it turn, no one knows. Look at China, South China Mall was empty since 2005, no problem what. China has 64.5 million condos unoccupied, no problem what. However, when the market turn, I wonder who would suffer most, the developer or the investor?
Fact 1: prices has achieve new highs
Fact 2: loan is not difficult to obtain
Fact 3: property always go up (not confirm whether it is myth or fact)
Fact 4:YTL, SP Setia, IOI, Sunrise (cannot lose money one la, where got branded goods depreciate - yet to proven myth yet)
Fact 5: Malaysia household debt over household income 133% (higher than USA & Singapore)
Fact 6: Many new millionaire property investors are born over the last 5 years
Fact 7: Banks' loan for residentials of total loan is historical high
Fact 8: For first time buyer, those who just started work, hard to find decent location (unless sponsored by parents)
Oops, almost forgot, investment or speculation is not base on FACTS, it is based on EMOTION & TREND. Until you can measure emotion and trend confidently, don't bother to know the reasons for the rise in property prices
To be continue..more interesting facts on properties will be unveiled soon.
2 comments:
Hi there, I totally agree and give u a "LIKE" to your opinion, even though I am a real estate agent, I was always honest to my owner is TIME TO SELL your property, yet they are reluctant to listen and holding back their own property, whereas a normal graduated employed group who are already have more than 5 years working experience cannot even afford to buy a RM350, 000 property, except for those from well-earn family people. Imagining 2 years down the road, how many people can afford to buy such expensive RM500, 000 properties with less than 1,200 sf unit?
Dear sir, thanks for your post. I'm oner of those that can't afford a normal terrace house. Wish the bubble coming really soon.
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