SOS Read this before you INVEST in Stocks
SOS Property loan rejection rate 60-70%
sosfinance
Publish date: Sat, 18 Apr 2015, 10:35 AM
sosfinance
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VALUATION DOES NOT DETERMINE THE PRICE, IT'S JUST A TOOL TO ESTIMATE A VALUE OF A BIZ
www.sosfinancialplanning.blogspot.my
"How do you save RM50,000? - I shared with a friend on how to do it. I got a term life for RM280 p.a covering RM100k until 70 years old. I cancelled my wholelife insurance of RM2,800 p.a. for the same coverage up to 100 years old. Save RM2500 p.a x 20 years = RM50,000. (PM0122037325)
.....IS THIS ARTICLE FAKE OR FACT?? ANYONE CAN CONFIRM?
www.sosfinancialplanning.blogspot.my
"How do you save RM50,000? - I shared with a friend on how to do it. I got a term life for RM280 p.a covering RM100k until 70 years old. I cancelled my wholelife insurance of RM2,800 p.a. for the same coverage up to 100 years old. Save RM2500 p.a x 20 years = RM50,000. (PM0122037325)
.....IS THIS ARTICLE FAKE OR FACT?? ANYONE CAN CONFIRM?
Properties have a good run between 2011-2014, especially some hotspots.
It would be great if the some agency do a research on the market (especially on condos and apartments) of each development how much is for investment and how much is for own stay. If we ask the same question in the mid 90s, I believe, more will say, it is for own stay. It would be great if someone or some agency has this statistics.
I can give an example of one launch in ara damansara, it comes with 6-9 years rental guarantee, and the buyers are not allow to stay, it will be rented to students. So, this particular apartments are 100% for INVESTMENT, although one of the few in the market.
HIGHER LOAN-REJECTION RATES
Bank Negara's series of cooling measures. Many did not realised actually it is the banks that owns the condos and apartments. The owners only own them after 20-30 years of sweat and blood. Let just say, approximately RM550 billion is given out for properties, and say condos/apartment make out say, 50%, so there are RM275 billion, loan oustanding for condos or apartments.
So, just imagine, we have ONE big bank giving out RM275 billion. This bank is ask by BNM, hey, change your policies, LTV, 70% for third house, reduce your tenure, lower valuation (due to price doubled) and other policies, RPGT, restriction of RM500k to RM1 million for foreigners.
So, there is two sides here, ONE big bank have to slow down, the other sides, investors, because of RPGT, also has to slow down. So, eventually, loan to developer also has to slow down. We are basically slowing down the MUSIC, we are not stopping, get it.
To be continue (Part 2)
More articles on SOS Read this before you INVEST in Stocks
SOS Ecoworld, MahSing, E&O, Glomac and Property Listed Companies 35,000 Unsold Units?
Created by sosfinance | Jul 14, 2018
Discussions
1 person likes this. Showing 6 of 6 comments
Why make thing so hard. Buy within your reach.
Use 50 months gross salary as golden rule. If your salary is 5k, buy an apartment value at 250k. Sure you can afford.
If your salary is 20k, buy a terrace house up to 1m.
Problem is earning 5k want to buy 500k condo, earning 20k want to buy 2m bungalow.
Be contended, think of HK who can only afford 100sf per person.
Think of Singaporean, even with the help of government (CPF), they are happy to live in HDB flat.
2015-04-18 17:22
If he is a professional and has good prospects of having an increment of Rm3000/- within 4 years n by then only only installment begins,it is ok for him to purchase a RM500k condo.We also must take into consideration of the EPF's entitlement of releasing his epf money to help him to pay off his capital outstanding.This helps him to settle his loan much ealier.
Recently I visited a showroom selling condominium along Jln Gombak (5 miles)and was surprised of the crowd booking them with their credit card.The developers are smart enough not to build large ones but smaller ones ranging from 840sq ft to 930sq ft with 3rooms + 2baths with only one small balcony.It was about RM550/- per sq ft and cost RM450k to RM550k.Surprisingly the take up rate was 60% only
2015-04-18 18:25
Continue:...launched for one week.The snatch up rate was also high in view of the slowdown in property market.So it wise to build smaller sizes to suit the local needs.
2015-04-18 18:49
Yes! If you are high flyer, you may get 25% to 40% increment every year, plus bonus up to 6 months.
The problem is, when you apply for bank loan, bank only base on your current earning.
If you are confident of achieving high income in 3 years down the road (Doctor, lawyer, accountant), why not just wait for another 3 years before decide to get one suit your status? You will not be contended with the unit you purchase with your current small pay.
Please don't buy one with your projected earning, it will definitely make your life miserable.
2015-04-18 23:39
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Actually this is a reminder that there is a pocket of 70% property buyers out there for middle range prices! Developers are concentrating on high end condos forgetting that the majority buyers are in the middle!
2015-04-18 13:43