tag:blogger.com,1999:blog-34503628.post4921081626998351653..comments2024-03-26T20:28:00.690+08:00Comments on Journey to Become Financially Independent: Will Property Bubble Burst in Penang Island?ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-34503628.post-15966013103648059122012-07-15T10:46:16.162+08:002012-07-15T10:46:16.162+08:00Thanks for the comment. Sometimes when you buy for...Thanks for the comment. Sometimes when you buy for your own, you need to worry too whether your neighbors are like you or they buy merely for investment. You don't want to buy a property and after you move in, nobody is there.ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-7594306677302764752012-07-15T08:21:03.177+08:002012-07-15T08:21:03.177+08:00There are a lot of money in Penang Property and mo...There are a lot of money in Penang Property and most of them are from buyers with pretty strong holding power - the fact that rental yield is low but the take up rate is still pretty decent.<br /><br />I think if you are buying for own stay then it's ok for go ahead rather than waiting for the burst. Down the road, any appreciation or depreciation doesn't really matter as you never be able to predict what the future is.Penang propertyhttp://mrproperty.me/penang-propertynoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-25807225840909565072012-04-27T14:03:15.154+08:002012-04-27T14:03:15.154+08:00Even now but not the entire market, some propertie...Even now but not the entire market, some properties are sold with 20% discount too if you're lucky or know how to do your research but that is usually very rare case. <br /><br />A friend of mine bought a house with ~15% lower than market value because of the owner very pissed off with her neighbour. The onwer is very rich and she only have one intention - just doesn't want to see her neighbour anymore and do not mind to sell her house cheaper. lol!ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-4073250214957821982012-04-27T00:16:27.624+08:002012-04-27T00:16:27.624+08:00If the property market burst, the prices of the pr...If the property market burst, the prices of the property won't drop like 50%! At most you can get a 15 to 20% discount. There will be more desperate people when times are bad. If you are lucky, you might just get one that is super cheap in price. <br /><br />Just my 2 cents! If it rains, please prepare an umbrella before it does rain! ;)kampunginvestorhttp://www.kampunginvestor.comnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-30453027596777979692012-04-24T22:17:17.348+08:002012-04-24T22:17:17.348+08:00Your large percentage here is exactly how much? &g...Your large percentage here is exactly how much? >50%? Just curious. I don't have the data but giving impression is 30% or lesser.<br /><br />KL, hmmm... So how? Still need at least have one for own staying.ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-59290956012929600922012-04-24T16:19:56.808+08:002012-04-24T16:19:56.808+08:00I've been telling people in KL the same thing....I've been telling people in KL the same thing.......properties will not burst. A lot of people are saying it will, but more like hoping it will.<br /><br />True....buyers might not be able to pull it off once they start to pay the loan, etc..but a large percentage of the buyers are foreign investors with very strong holding power. It's not so easy to make them sell at a loss :) <br /><br />Price drop, maybe, but not burst. And it also depends on which location.<br /><br />Still.............even now i want to find property in KL.........i have no idea where to buy. Just too exp now.Alvin Limhttp://cubicnation.comnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-22777766723021786802012-04-24T12:31:14.600+08:002012-04-24T12:31:14.600+08:001. In other words, make sure the developer is reli...1. In other words, make sure the developer is reliable.<br /><br />2. Yes, good point that is not the real lost and cash flow mangement is the key.But you may not know when you need to the money. The worst case still to plan for the worst.<br /><br />3. Talking about Penang island specifically is because the property prize there is 2X,3X higher than in the Penang mainland across the bridge. So when the slow dwn comes, will it hit the Island first or the mainland?ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-80780482113200094822012-04-23T17:08:08.440+08:002012-04-23T17:08:08.440+08:001. make sure property can be 'completed'.
...1. make sure property can be 'completed'.<br /><br />2. 350k is not a real lost, if you are NOT selling within that time frame, its barely a factor. what really matter is cash flow management to avoid foreclosure if your plan is more than 5 -10 years, ie. stays there or wait that long for capital gain<br /><br />3. talking about penang island is as useless, all you should really care about is your particular property. How far is it from down town, main attraction area etc. When slow down comes, the first wave hits is always recreation etc etc then lastly the heart of the city center.<br /><br />---<br /><br />if you can make a 6-10% pre completion profit, sell it ! Then eye for another one ... don't forget this is not your 1st property, emotion value should not be that much a factor anymore.<br /><br />property value is far from peak, an adjustment is un-avoidable due to political and regional effects. Sabah Sarawak will regain property trend in no time after election ... and as for penang, not that much effect really relatively.Mt.https://www.blogger.com/profile/11182268410762882679noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-52441452243978989432012-04-23T01:31:59.860+08:002012-04-23T01:31:59.860+08:00I've already bought a new property last year. ...I've already bought a new property last year. Not Gurney Paragon, not Straits Quay because those are too high end for me. lol! <br /><br />Just to share some thought because people has been taking about the Penang property has already reached the peak especially this year.ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-54864253009805708932012-04-22T23:23:18.367+08:002012-04-22T23:23:18.367+08:00Good points Champdog - we do see very few lit up u...Good points Champdog - we do see very few lit up units at, say, Gurney Paragon and Straits Quay area - but then again as you stated, probably need 1-2 years to make better judgement on this.<br /><br />So what was the inspiration for this post? Looking for investment properties or just back from a mamak stall session on this topic? :)LCF Personal Financehttp://www.howtofinancemoney.com/noreply@blogger.com