ganasai

other sector also affected not only property. But i still agree policy. So that people buy house is for own living, not for earn money.

2013-10-27 11:27

ganasai

who buy the house and plan for goreng, then congratulation to them.

2013-10-27 11:39

Fortunebull

There are many who already bought several high end condos thinking can sell for profit! Now with much higher RPGT for sure waiting and panicky with huge losses!

2013-10-27 11:41

ganasai

haha, luckily i dont have money goreng property. I just got small money goreng hibiscus only.

2013-10-27 11:43

ganasai

seems like hong kong 90 situation, a lot of people loss everything because goreng property. They hope they can become superman.

2013-10-27 11:50

Fortunebull

Ganasai! Most of these speculators not rich! I think most will bankrupt!

2013-10-27 11:57

ganasai

force to sell, haha. most speculators just borrow money to goreng only. some more borrow from friend or relations to pay the first deposit. Now just bear lah. rent is not simple now. We can foresee the rent market will increase competition. Some more, you may force to simply rent to some bird people, that dont want to pay the rental fee one... really congratulation.

2013-10-27 12:01

Fortunebull

Ya! Most borrow money! Want instant fat profit but get nightmare!

2013-10-27 12:04

bsngpg

Sorry, I have an opposite opinion that the increase on price will albeit slow a bit but it is still on uptrend and those who cannot afford now will still cannot afford to buy the same house then. Why ?

A new condo/apartment takes 3 years to be delivered to buyer. After down payment and progressive interest, the unit is obtained and really for sale with 20% gain tax in year 4 upon Vacant Possession. The increased RPGT from 10%(2013) to 20% in year 4 is not significant to traders. It means only 10% less in profit for seller in 2014 as compared to 2013. Do you think this 10% less in earning is significant to deter the hot trend in property market ? I do not think so. Just like if you have high chance to earn 30% in a counter last year but now it is only 20%, will that stop you to trade that counter ? A trader will not so.

2013-10-27 12:37

KelvinT

Hopeless

2013-10-27 12:38

KelvinT

God bless them

2013-10-27 12:38

bsngpg

Singapore succeeds in pressing down the hot trend of property market by far more and vigorous measures. I bet that the 15-30% on RPGT will not do the job if we get a clue from China and Singapore.

2013-10-27 12:43

ganasai

so optimistic? good! But I' not the one buy the house now, if price still high like that. if still high like that in next year, that more straight policy should be apply right? haha... price stabilising is unavoidable. This is to make sure everyone can afford buy the house.

2013-10-27 12:44

inwest88

bsnpng, it's timely that measures are being implemented to curb speculation in property as house prices are just too high which is beyond the reach of young people. Just imagine even people though earning RM 5,000 a month finds it difficult to own a house costing say about RM 400,000 which is considered the lower-end price in the Klang Valley nowadays.

2013-10-27 12:44

ganasai

developer wont down the price, because they know got goreng kaki sampu the house when launching. So we will force to buy second hand new house. We need to pay for developer earn and also this goreng kaki earn.

2013-10-27 12:48

bsngpg

Hi : I am very confident that the increased RPGT cannot do the job effectively. But please do not get me wrong. In fact I am on your side to curse the too high price on housing.

If I were the government,
i) 70% maximum loan for the 2nd house.
ii) 50% maximum loan for the 3rd house.
iii) 30% maximum loan for 4th house. If you can buy many houses, pay more by yourself lol.
iv) 50% RPGT if your profit is >7% per year within the first 5 years.

I am a bit socialist, ha! ha!

2013-10-27 12:53

inwest88

bsnpng, I would go for

i) 70% maximum loan for the 2nd house.
ii) 40% maximum loan for the 3rd house.
iii) 25% maximum loan for 4th house. If you can buy many houses, pay more by yourself lol.
iv) 50% RPGT if your profit is >7% per year within the first 5 years
v) 60% RPGT if profits exceed 10% per year within the first 5 years

2013-10-27 13:13

bsngpg

Inwest88 : I heard somewhere that in Germany you will be jailed if you make more than 50% profit in trading real estate. To them, house is for your family but not for making profit.

2013-10-27 13:17

inwest88

bsnpng, I am not sure about that but to me I am against excessive speculation. To me stock and property are tow separate issues altogether in that :-
1) when you play stocks with others, both parties know of their stand - either make or lose and play according to theri means
2) in property, those with say 50 K can afford to buy properties costing 500 K. Just by paying 50 K, profits can be as high as 100 K to 200 K before or upon completion (of course depending on location). The prices keep going up until it reaches a stage where, like I say, beyond the reach of a large segment of people. Thus I feel it is not right to deprive these people a roof over their heads.

This is just my opinion. Of course this is a free market and everyone is entitled to make his money as long as it is legal.

2013-10-27 13:25

ganasai

everyone also want the money. But because you want rich, you willing see other people bear huge loan in whole life?

2013-10-27 13:27

KC Loh

bsngpg, your % numbers are a bit excessive. have you not consider some may need to sell their properties, not for speculation basis, but that of emergency and contingency? you have to draw a balance! Its easier said than done with our skewered political views, but do consider the unheard voices also sometimes! :)

2013-10-27 15:02

bsngpg

KC Loh : in this context, I admit that I am a bit unbalance that is why at the end I said I am a bit socialist.

2013-10-27 15:47

bsngpg

KC Loh : The second house means the 2nd unit on hand. The sold unit is not counted anymore.

2013-10-27 15:55

bsngpg

There are many poor families surrounding me including my direct relatives. To them, the only house is for their whole life, some even facing big challenge to pay that only house. If someone is capable for the 2nd house, I believe 30% down payment is not too difficult albeit it may create some financial pressure.

2013-10-27 15:57

kytan

https://www.cia.gov/library/publications/the-world-factbook/geos/my.html visit "People and Society" see the data and forecast what will happen at future house price with
1. http://www.globalpropertyguide.com/Asia/Malaysia/Price-History HousingAapprovals and Over Supply
2. http://biz.sinchew.com.my/node/78471 家債佔系統呆賬率更是在過去數年顯著下跌，從2006年的7.5%大跌至現有的1.4%。
3. http://www.orientaldaily.com.my/index.php?option=com_k2&view=item&id=81167:170&Itemid=113 with 2% Birth Rate and younger genertion..

I will said another 10 years the price will rocket high again.

2013-10-27 16:27

kytan

price going up is
1. demand and supply issue. 600K single vs average 200K housing. future more single guy and girl not prefer married
2. 72% people move to city to find job
3. land in city less and price is high

2013-10-27 16:38

bsngpg

kytan : Put social moral aside and back to investment case. Wow! If housing prospect is so good for the next 10 years, my heaviest invested Mahsing will be RM6 in few years later. Wa “Jia Bei Liau” loh.

2013-10-27 16:40