Property Views
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For over $1,000psf, isn’t it better to invest in older condo with potential enbloc instead of buying EC?
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ngl2010\" post_id=\"1923752\" time=\"1564378489\" user_id=\"40978:
I rather buy Waterway Point (right above MRT!) at $1,200-$1,300 than the Sumang Walk EC $1,080psf.
For over $1,000psf, isn’t it better to invest in older condo with potential enbloc instead of buying EC? -
lee_yl\" post_id=\"1923849\" time=\"1564405413\" user_id=\"17023:
As I said, EC is for a different market segment.
I rather buy Waterway Point (right above MRT!) at $1,200-$1,300 than the Sumang Walk EC $1,080psf.ngl2010\" post_id=\"1923752\" time=\"1564378489\" user_id=\"40978:
For over $1,000psf, isn’t it better to invest in older condo with potential enbloc instead of buying EC?
For Watertown, a 2 bedder ~850 to 900 sq ft is ~$1.2m.
For Sumang Walk, the smallest 3 bedder ~ 850 to 900 sq ft will probably be ~$940k
That’s $250k or a quarter of a million dollars difference.
In addition, a EC attracts $10k to $30k family grant from Government for first-timer combined income less than $12k. There is no grant for private condo, it’s on your own.
For purchase of a EC, assuming the buyer qualify for 80% loan, it’s 5% of the purchase price using cash. The remaining down payment of 15% can be paid using cash or CPF. For private condo, the current max loan-to-value ratio is 75%. Option fee is 5%, remaining 20% using cash or CPF. Comparing the two, it’s additional 5% (in cash or CPF) on top of a higher quantum if you are buying a private.
Everyone would prefer traveling on SQ Business Class if money is not an issue, but not everyone can afford one. Sometimes, you have to settle for a more affordable Business Class (or Premium Economy Class) elsewhere. -
Wats the income ceiling for EC & HDB now ?
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MyPillow\" post_id=\"1923975\" time=\"1564450092\" user_id=\"70594:
HDB - 12k
Wats the income ceiling for EC & HDB now ?
EC - 14k -
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Floppy
I like your views on Properties -
Presumably you guys know that after 10 years, an EC effectively becomes a 99-year leasehold condo and can be sold to anyone including foreigners, right?
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floppy\" post_id=\"1915132\" time=\"1560997984\" user_id=\"97579:
A bit late to the discussion, but my take on investing in Malaysian property is to buy a big piece of land with a rundown single storey house on it. Actually, the house (preferably free) is optional. Just pay for the land. :evil:
There is no such thing as being \"stuck\" with a house that they can't sell (but I understand the \"inverted commas\"
). Selling is a function of price. They are probably just not happy selling it at the price that the market is asking for. Given their recent property boom, supply > demand. With so many new properties available, why would buyers want to buy a run down unit at the same price? The thing about rental, who were they intending to rent to? Malaysians? Low yield. Foreigners? Limited number.
Lastly, there are landed, and there are landed. Older (landed) terrace houses would never appeal to foreigners. However, newer landed properties like those in https://gamudaland.com.my/horizonhills/ (by Gamuda Land and UEM Sunrise) or older well developed projects like https://www.leisurefarm.com.my/ (by Mulpha) have lots of appeal. Notwithstanding, selling remains a function of price. If die-die wants to make a capital gain of x% before selling, then got to wait (long-long) lor.
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