How much are you earning per annum?

They can only resolve the oversupply problem if they cut supply by 90%.

It reminds me the ghost towns in China, there are owners of the empty condos but no one is living in them. Why? Because the buyers are all speculators investors who don't stay in those condos. I think the same situation will be in Johor. Some say, the China developers are selling condos in China and the buyers get a Johor condo free. So, imagine if this is really true, you will see many new condos in Johor but all will be empty. So you will get ghost condos and ghost towns in Johor.

Johor should plan their land use more properly. They should use more of their land for modern agriculture to produce vegetables and dairy products rather than producing ghost towns all over the state. Already, there are many unsold properties. Imagine in a few years time, it will be worse.

Beware! You have been warned!

Originally Posted by Unregistered

The Edge -- Johor postpones approvals for new serviced apartments to counter oversupply


KUALA LUMPUR (May 13): Bernama reported today that Johor will, from this year, postpone the approvals to build serviced apartments in Johor as the state moves to counter oversupply in the market.

The news agency said, quoting Johor Menteri Besar (MB) Datuk Seri Mohamed Khaled Nordin, that the postponement is to allow the department of town and country planning to draft guidelines to address the issue.

"The guidelines will include a check on approval criteria for the construction of serviced apartments and a feasibility study to ensure the situation of oversupply can be avoided.

"Views from those involved in the housing sector, including the Real Estate and Housing Developers' Association Malaysia (REHDA), housing developers as well as other stakeholders would be taken into consideration in preparing the guidelines," said Mohamed Khaled, according to Bernama.

The MB was speaking in response to questions raised by Chen Kah Eng (DAP-Stulang) and Dr Zaini Abu Bakar (BN-Nusajaya) on the state government's action to overcome the issue of excess supply in the property market, particularly luxury apartments in Iskandar Malaysia, at the 13th Johor Assembly today.

Mohamed Khaled said the state government will ensure that most of the serviced apartments built in Johor are placed in the international zone, in line with the concept requested by buyers.

Bernama also reported that last year, the Johor property market saw 11,459 housing units launched, with 3,995 units of serviced apartments and 7,464 others being terrace and detached houses and bungalows.

Quoting Mohamed Khaled, the news report said only demand for serviced apartments had fallen, and that from the 3,995 units launched in 2014, only 1,022 or 26% had been sold so far, although the launches were done in the early first quarter of the year.




Yes, only the high-rise service apartment is affected because of indiscrimating building by the Chinese developer. Why go for high-rise in JB? Definitely it pays for you to go for shoe-box in JLD.

To enjoy life with you young children/ grandchildren in your own garden/ swimming pool is what you should envy for. Not to live a prisoner in your shoe-box, of course you must have reach certain level of financial capabilities and education.............

Originally Posted by Unregistered

They can only resolve the oversupply problem if they cut supply by 90%.

It reminds me the ghost towns in China, there are owners of the empty condos but no one is living in them. Why? Because the buyers are all speculators investors who don't stay in those condos. I think the same situation will be in Johor. Some say, the China developers are selling condos in China and the buyers get a Johor condo free. So, imagine if this is really true, you will see many new condos in Johor but all will be empty. So you will get ghost condos and ghost towns in Johor.

Johor should plan their land use more properly. They should use more of their land for modern agriculture to produce vegetables and dairy products rather than producing ghost towns all over the state. Already, there are many unsold properties. Imagine in a few years time, it will be worse.

Beware! You have been warned!

Totally agree with you this time.
Why want to buy condo in JB? Potential ghost town in Danga Bay area. If you buy shoe-box in JLD, you are quite safe. Only worry you have to pay through your nose.

To enjoy quality life in a natural setting, for those who already there, Leisure Farm is definitely a place to call home. Safety, elites as you be your neighbours, golfing kaki staying next door, design your own dream house, etc etc............but come with a price ...RM700 psf.

For those yet to achieve that level, can try out with Ledang Heights. Land area come in 10k sf and above, all selling at about RM200 psf. For a S$2m, will get you a 10k with 5k build-up and a swimming pool............ When you are ready, go for GCB in Leisure Farm next door with golf course form part of your compound.........

I would only buy the GCB land if they are cheap. Now it is massively overpriced. I would buy the empty GCB land if they sell for RM100k for a 50k sft piece of land so that I can set up a farm there to rear goats and chickens so that I can supply fresh goat milk daily and eggs to the Singapore market. This is better use of the GCB land.

Originally Posted by Unregistered

Totally agree with you this time.
Why want to buy condo in JB? Potential ghost town in Danga Bay area. If you buy shoe-box in JLD, you are quite safe. Only worry you have to pay through your nose.

To enjoy quality life in a natural setting, for those who already there, Leisure Farm is definitely a place to call home. Safety, elites as you be your neighbours, golfing kaki staying next door, design your own dream house, etc etc............but come with a price ...RM700 psf.

For those yet to achieve that level, can try out with Ledang Heights. Land area come in 10k sf and above, all selling at about RM200 psf. For a S$2m, will get you a 10k with 5k build-up and a swimming pool............ When you are ready, go for GCB in Leisure Farm next door with golf course form part of your compound.........

Originally Posted by Unregistered

I would only buy the GCB land if they are cheap. Now it is massively overpriced. I would buy the empty GCB land if they sell for RM100k for a 50k sft piece of land so that I can set up a farm there to rear goats and chickens so that I can supply fresh goat milk daily and eggs to the Singapore market. This is better use of the GCB land.

You are absolutely right!!
15 years ago, the land was good for goat and cattle. Otherwise why it was named a farm-- Leisure Farm?? Now the owner converted it into ultra high end with double gated and guarded and a golf course for your convenience. Entry price now is S$3.7m. Do you have that sort of money? If no, just settle for one next door for S$2m. If is still out of reach, then no choice, you have to be contended with a shoe-box in JLD......

Originally Posted by Unregistered

You are absolutely right!!
15 years ago, the land was good for goat and cattle. Otherwise why it was named a farm-- Leisure Farm?? Now the owner converted it into ultra high end with double gated and guarded and a golf course for your convenience. Entry price now is S$3.7m. Do you have that sort of money? If no, just settle for one next door for S$2m. If is still out of reach, then no choice, you have to be contended with a shoe-box in JLD......

Even if I have that kind of money, I will not buy any Johor property because:

1. I expect Johor property prices to fall by 50% at least over the next 10 years due to the massive oversupply of properties. Landed properties will be affected as well. In a property collapse, all property prices will fall. Just study the experiences of property boom and bust around the world and you will understand.

2. I expect the exchange rate to fall to S$1 = RM4 over the long term. So, even if my Johor property price did not fall, I will lose on the forex losses.

3. Safety concerns. This is priceless. I value my family's life and safety more than having a big house.

So, no thanks. You can enjoy your stay there. Take care.

Read the sales pitch on Leisure Farm carefully - double gated!

Why double gated? Because the area is unsafe.

Anyway, if you are rich enough, the world is your playground.

Originally Posted by Unregistered

Even if I have that kind of money, I will not buy any Johor property because:

1. I expect Johor property prices to fall by 50% at least over the next 10 years due to the massive oversupply of properties. Landed properties will be affected as well. In a property collapse, all property prices will fall. Just study the experiences of property boom and bust around the world and you will understand.

2. I expect the exchange rate to fall to S$1 = RM4 over the long term. So, even if my Johor property price did not fall, I will lose on the forex losses.

3. Safety concerns. This is priceless. I value my family's life and safety more than having a big house.

So, no thanks. You can enjoy your stay there. Take care.

middle class couple, 46 & 44 years old, with two teenage kids.
makes $169k pa. saves $40k pa.
owns a condo in the OCR, worth $1m, loan outstanding $240k.
drives a small car, no loan.
total net worth $1.1m.

how are we doing financially?

hope gurus in this forum can share your comments on our financial standing.
thanks.

if you are in the same age group as us, can you share your own situation? thanks.

Originally Posted by Unregistered

Read the sales pitch on Leisure Farm carefully - double gated!

Why double gated? Because the area is unsafe.

Anyway, if you are rich enough, the world is your playground.

Just wondering can you come close to a GCB in Nassim area without being stopped an questioned? Go and find out yourself by stopping at the gate and see what can happen.

Originally Posted by Unregistered

middle class couple, 46 & 44 years old, with two teenage kids.
makes $169k pa. saves $40k pa.
owns a condo in the OCR, worth $1m, loan outstanding $240k.
drives a small car, no loan.
total net worth $1.1m.

how are we doing financially?

hope gurus in this forum can share your comments on our financial standing.
thanks.

if you are in the same age group as us, can you share your own situation? thanks.

we are almost in same age group as you. 445 & 45 years. 2 kids. make $350k total last year. Maybe saved 50% of it. owns a condo outskirt, worth $1.3m, paid up few years ago, now eyeing for next property, Just bought a car, took minimum one year loan to enjoy the discount. hope we can retire at 55. how are we doing financially?

Originally Posted by Unregistered

we are almost in same age group as you. 445 & 45 years. 2 kids. make $350k total last year. Maybe saved 50% of it. owns a condo outskirt, worth $1.3m, paid up few years ago, now eyeing for next property, Just bought a car, took minimum one year loan to enjoy the discount. hope we can retire at 55. how are we doing financially?

Hi,

Whether you can retire at 55 depends on your current net worth and how much you need per annum during retirement.

What's your current net worth?
How much expenses you expect every year during your retirement?