@islander_ori

Nope. Not yet.
You already get yours?

not yet.
But there is not much activity on the construction site.

Once foundation is completed then we should be able to get the stamped loan document…

wow, there is a buyer get buyer promotion there. anyone in penang plans to get a unit before 21 march can contact me.
for block A to block E.

we can work out a plan to share the introducing fee. It is not much but just treat it as a little bonus.

can sms me 0164596227 if you really decide to buy it in these few days..

@tomyam
Is this promotion from developer?
How is the selling price now? increase?

RM2000 for each successful transaction through introduction. Nothing lah, easily factor into the selling price already.

So, what is the pricing and rebate now compared to CNY period?
Has the affordable blk F issue affected the sales?

@islander_ori

yes..i receive Ivory letter you should also receive this letter if you bought one
the promo time kinda short. effective 1 March till 21 March.
But i dun mind have extra pocket money if someone wanna buy it. better than nothing. :p

@tomyam
now what price now?what block still available?

@kabutol

no idea. did not go to the sales galary after get my snp. but i dun think they raise any if block E not sold out.

@tomyam
received the promotion letter yesterday.

no updates? so quiet recently

With the block F affordable units issue, all no interest already. Developer should come out with a clear statement or else their block E also stuck

If their 615 sf unit price higher than their 800 sf affordable unit, i cannot imaging how dissappointed their existing buyer. Ivory integrity and trust will down to ZERO.

all the units are fully sold? wats the price per sqft?

Ben

Why dont you go to the sales gallery and see for yourself

Hi,

Anyone knows how to apply for affordable housing? What is the criteria? Anywhere I can ask regarding this?

Saw Ivory applied separately for the LMC project, means the existing block F in bays residence should not be gazetted as LMC in this case.

However it is un-clear where the exact location of the LMC, it only mentioned “government land”. It appears to me any other plot of land within the PWC development will be comparable or better than the existing Bays residence.

hi after seeing here thr ……conversation going on like anything???
any one could advice me – 455sqft – i bought ard 428…… is worth???

or not worth///////worried

thx alot

@sheana

probably you should share the reason you buy the unit?
if for own stay n still single or couple only, i think it is ok as it is own preference. u can make your unit very nice with all equip plus enjoy others facility and its location very convinient. good for those work in FTZ area as you can reach your home sweet home very fast n shopping in QB.

if for rental purpose, i think really not so worth as it only 1 room, let say your monthly installment is like 1.8k – 2k. plus monthly mantenance Rm115 make it all 2k each month. How much you able to rent out?

if to sell if off after oc obtain, hmmm.. i really think is not so positive to get someone pay 500k in 4 years later to get a 1 unit room.

@tomyam
In your opinion, what can we buy with 500k after 4 years later?

@islander_ori

We can buy property in UK for this price ?

@islander_ori

Depends on economy situation. May be inflation etc all will come. But use 4xxk to get just a 1 room unit might be too risky for certain people. If this is the only thing they can affort, and future they plan to have family might not able to fit. Rent out then cannot cover their installment.
450k might not able to buy many thing, but placing a loan/debt of 450k is recommend to think twice.Erm.. if this extra pocket money.. then nothing concern lor..

Always need to know the buying intention.
If I am single and plan to have a high quality life , then it might be a good choice.

@tomyam
tq for ur advice

So sheana, why did you booked it in the first place?

@Bryant for investment purpose …. make money : )

@sheana
So you going to let go? Or hold on to it?

Still selling like ht cakes or has slow down??
Buyer get buyer surface look like has slow down..

ofcourse there is a slow. i dun think is just this project but overall property market as well.
for tbr, is one of the projects where we have those 1 bedroom suite type condo which is below 650sqft. not sure will there will be popular in penang? i think ppl prefer at least 900sft above even for a small or single occupant.

any affordable unit? 350k?

@==
whr g rnew projects for that price in penang…if got everyone wll grabe like anything

@Bryant
hold till can make money…..

@sheana

Thanks sheana! We need people like you to make money. While you hold the shitty stuff to keep the price up, we cash in on hot stuff. god bless you!

R they launching new phase soon?

I was asked by chow tatt seng to sign this PMC1 form. According to them, it to transfer leasehold to freehold status. I thought TBR is freehold. Any of you guys had to sign similar forms? What is it all about?

Tri :I was asked by chow tatt seng to sign this PMC1 form. According to them, it to transfer leasehold to freehold status. I thought TBR is freehold. Any of you guys had to sign similar forms? What is it all about?

PMC1 form? Never heard of it. You are the purchaser of which block?

@Tri

I never recall i sign this form before.
This piece of land already get freehold status. But not all land under PWC is freehold, some future block will be leasehold.

Also, it is very weird that ask buyer by buyer to sign the form. What is some not sign, means some unit under freehold, some leasehold? weird..

By the way, yesterday pass by QB ivory roadshow…

Their Citi Residence some unit already selling like RM 2 million…

@tomyam
Can share a little bit more? What units / projects still available and price range?

City Residence at Tg Tokong? I though already sold out? Got 1200sf units left or not?

Good news to all buyers. TBR will take at least five years to complete… No RPGT on your investment…

Really 5 years? In this part of the contract? Every purchaser also offered DIBS?

@Felicia
Where do you get this info?

islander_ori :
@Felicia
Where do you get this info?

i think is speculation
But so far, ivory or tropicana project do not have major delay. The peak did delay a bit.
but there is still 4 5 years down the road. What will happen nobody knows…

@PWCT

No lar. City Residence not sold out yet, from the chart i saw , there is about 7 to 10 units left. Mostly on the highest floor unit left.
1200 sf unit i think left 1 or 2 on that day, pricing at 1.2 mil
18xx sf unit is mostly 2 mil.
I am suprise to see actually that project have very small unit like < 900 sf unit. I think internal purchase by staff one.. haha.. cause never heard got any people say they success get that unit.

I did not ask any further question from them as i know i totally not entitle even the entry unit.. hoho.. but the sales girl is pretty polite and very patient in promoting the unit even my outfit that day really like wanna go to pasar.
The treatment is so so so different compare to what i experience during i queue for PWC.
Haha

@Felicia
it is suppose to be 4 years from 31-Dec-2013 base on the s&p.

@tomyam
I went for the roadshow myself on Saturday, no more 1200sf left for city residence. They are offering 8+5% discount, the price after discount is looking at 1100psf for higher floor units.

Nevertheless, there are plenty of units left for The Central, and few for The Wave.

come on lets see who d smartest person …. at the age of early 30ties, i bout a landed propertly in penang…. do u know how much is the price now—– within 5 years– more than a million. alot of people invested in PWC…. u think v r stupid????

lets see the senario—- can a PHD holder make stupis decision……………..wow

If you are looking for long term investment (>=10yrs), property is a way to go with solid historical record. However current market is full of those so called speculators who only concern about short term gain, who purchase new property only and aim to flip it immediately after o.c. This group of people will not prevail under current market situation.

Hi sheana, congratulations on your smart purchase of the landed property 5 years ago. May I know which landed did you purchase? I am just trying to learn from the smart people here.

@PWCT

As long as market doesn’t crash, little impact to the speculators who usually bought in bulk in good locations..

sheana :
come on lets see who d smartest person …. at the age of early 30ties, i bout a landed propertly in penang…. do u know how much is the price now—– within 5 years– more than a million. alot of people invested in PWC…. u think v r stupid????
lets see the senario—- can a PHD holder make stupis decision……………..wow

In all forums, there are sour grapes/ self-annointed experts who talked nonsense and give unsolicited opinions.When I bought D Piazza Condo from developer, I did face many criticisms or some are outright caustics comments.
Now, the price of D Piazza Condo silent them all.
I also bought a Double Storey landed ,still people poured Ice-water.

Ask those sour grapes who missed the boat, to read this forum from very beginning.
How people q and quarrel to grab any units. You think those guys are stupid paying at least half a million? Use your common sense

Hikato, you’d be surprised how many stupid people you have walking around Penang island. Some are not so stupid, with average intelligence, but greedy. Most PhDs are clever, only the minority are not so clever. But PhDs can be clever in their respective fields, but not so clever in investment.

Developers are the smartest, they know building good affordable housing won’t make much money. They know special skills are crucial in making money. Stickers, SoHo, DIBS, rebates, overnight queues, bulk selling are key skills in the field.

@Mommy
in this case i m very very stupid.. sold few units and now own 3 units in island…
me really stupid, only earned few hundred k.

@None

Why do you call yourself stupid may I ask?

lol…my grandfather own land area 33×120 = 3960sf landed double storey old house near taman free school there, buyer offer 2mil, he dont wan sell, that time he bought only 100+k, means he so clever? answer is no, just can said he become millionair indirectly because of stay in pg island, first buyer earn alot = clever? so the last buyer is stupid?

@Hikato

Haha..
that time i am just a fresh grad during DPizza launch. My sis get one and she ask me to buy as well.
Due to too much cold water from my colleague pour on me.. i did not buy and now really miss that boat.
But somehow cannot regret also as freshgrad pay also not so easy to afffort a new condo.

Any unit left? How much now?

@tomyam

What? Your sister asked you to buy fresh pizza for lunch, but you fell into the cold water, and the boat left without you? How unfortunate! Maybe should go for tomyam next time instead of pizza.

BohKha :
@tomyam
What? Your sister asked you to buy fresh pizza for lunch, but you fell into the cold water, and the boat left without you? How unfortunate! Maybe should go for tomyam next time instead of pizza.

See, this is what happen when an idiot is given Internet access…
Poor guy and he thought himself is humorous.

BohKha :
@tomyam
What? Your sister asked you to buy fresh pizza for lunch, but you fell into the cold water, and the boat left without you? How unfortunate! Maybe should go for tomyam next time instead of pizza.

Idiotic comment…

BohKha :
@tomyam
What? Your sister asked you to buy fresh pizza for lunch, but you fell into the cold water, and the boat left without you? How unfortunate! Maybe should go for tomyam next time instead of pizza.

How to ban this kind of idiot. They are everywhere in forum.

@Hikato

Haha.. nevermind la.. used to have this kind of person in forum. May be the housing price that up every every year in Penang is getting people mad.
within 10 years time up 100% is really a shocking percentage!

Is getting tough and tough to get a unit now.

More info is available in PWC project now.

http://www.penangworldcity.com/tropicana-bay-residences.html

Look at the type F 1590 sf unit is quite interesting.
It looks like a dual key concept which you can used it for own stay and another one can rent out. I believe in the initial launching period, the price per sf is quite low.
Curious how much price psf that time.

Any progress on the TBR site?

@Jj
I got to know from the lawyer and ivory that estimated piling will start on end of June or July.
They are taking own sweet time as it is a 48months completion. 1st snp stamped end of last year i think.

Thanks yahoo

what is the earlier price for 872 sq ft? for level 8?

I booked an unit at block B 8 floors, 1020sqft
After 8% + 5% discount, final price is Rm 751k. Package come with SPA and loan agreement.

Is this price worth?

@Bruce

Your price is not a bargain. Did you buy it for own stay?

@ Bruce,

when u buy it? earliest batch Buyer can purchase 1000sft unit with <700k… 872sft for <600k… but that is last yr story already

@joe

Is not so easy to get this price. I bought 872 sf last year during feb second week launch. Also > 600k . It only apply for first week buyer (which mostly we think is bulk purchase buyer or KL buyer)
As first week rarely have buyer success get units from block A and B from Penang sales galery.

@Bruce

Any extra gift to compensate the DIBS?

So new buyers will not get DIBS? My snp dated 31-Dec-2013, in this case I assume I still entitled the DIBS right?

Bruce :
I booked an unit at block B 8 floors, 1020sqft
After 8% + 5% discount, final price is Rm 751k. Package come with SPA and loan agreement.
Is this price worth?

I just update until Feb 2014 only

For Area 1020ft2

Before DEC 2013 Sale Price is RM793,900 (Level 6). After Discount About RM731,500 (5%+3%) with DIBS.

Feb 2014 Sale Price is RM870,900 (Level 6). After Discount About RM744,600 (10%+5%) CNY Package without DIBS.

cm :

Bruce :
I booked an unit at block B 8 floors, 1020sqft
After 8% + 5% discount, final price is Rm 751k. Package come with SPA and loan agreement.
Is this price worth?

I just update until Feb 2014 only
For Area 1020ft2
Before DEC 2013 Sale Price is RM793,900 (Level 6). After Discount About RM731,500 (5%+3%) with DIBS.
Feb 2014 Sale Price is RM870,900 (Level 6). After Discount About RM744,600 (10%+5%) CNY Package without DIBS.

Is the unit facing facing pool?

Anybody own 1320 unit?

Dennis, facing river.
Given free loan agreement as a compensation without DIBS.
The price seems similar with Feb 2014 offered. Not much changes.

Hi Tomyam, I am that one called you for 2k buyer get buyer promotion.
I will inform you when signing SPA. Don’t forget our agreement

Dennis :

cm :

Bruce :
I booked an unit at block B 8 floors, 1020sqft
After 8% + 5% discount, final price is Rm 751k. Package come with SPA and loan agreement.
Is this price worth?

I just update until Feb 2014 only
For Area 1020ft2
Before DEC 2013 Sale Price is RM793,900 (Level 6). After Discount About RM731,500 (5%+3%) with DIBS.
Feb 2014 Sale Price is RM870,900 (Level 6). After Discount About RM744,600 (10%+5%) CNY Package without DIBS.

Is the unit facing facing pool?

Not … normal unit … some is can see little bit sea view (Will block later) and some is pool view. i take Pool view … Just Lucky got people rejected by BANK …

@cm

Pool view is quite good for Block A and B. So is also facing east right

Pool view Blk A & B also means facing the Coastal Highway (DLCC expressway)

Jj :
Pool view Blk A & B also means facing the Coastal Highway (DLCC expressway)

BLOK A Pool View is Facing Coastal Highway … Still got 80-100 meter far away. I choose lower floor. So, Still acceptable la …

@cm
The blok A pool view can also see a little bit of seaview meh? i tot is the 1 facing the main road only

Any interesting happening in Penang?

@tomyam
Hi, I am late comer…. Juz back from the sales office and i interested to get a 875sf unit. The buyer-to-buyer intro bonus promotion still have? How much u bought last time? Also with 8%+ 5% rebate right?

The best units for TBR phase 1 are those in Block A and B, Type C & D, facing east, no doubt about that. However, those units were already sapu by bulk buyers before the booking opens to public in early Feb.

I eventually managed to get one type c (872sf) at block D, unit3, high floor facing east, at 720psf. Price has increased ~5% from first release, and only 8% discount, no more 8+5% in this case. Interest bearing scheme still in place. To me this is the second best option as I will not consider buying units facing afternoon sun anymore after some past experience.

SnP dated 31-Dec-13, should be the same to most of the first batch purchaser, and construction period is 4 years.

I do remember that at time when I made my purchase, there were still units available at block A and B facing coastal highway, price was around 620-650psf if not mistaken.

@tbrr

I thought “Interest bearing scheme” should be illegal by now?

@tbrr
Any comment why Blk E is not selling so good now? They somemore giving out 8% + 5% offer now and free S&P, stamping and loan legal fee. But the price is ard $790psf, after counted in the rebate.

only left Blk E have bigger sf unit. Blk A/B/C/D full dy n only left few 455sf/615sf unit. I left with no option except consider Blk E

Aglio Olio :
@tbrr
Any comment why Blk E is not selling so good now? They somemore giving out 8% + 5% offer now and free S&P, stamping and loan legal fee. But the price is ard $790psf, after counted in the rebate.

Actually if you buy for your own stay is a Good location. Mostly i know q many people is buy for own stay or they have very good holding power. For the Blok E, the sale about +-50% SOLD only when i go to the Sale Office Last Few Month. Price already hit RM850/ft2 before discount. For this Pricing, i think for people want for investment need to think 3 time if your holding power is so so only.

cm :

Aglio Olio :
@tbrr
Any comment why Blk E is not selling so good now? They somemore giving out 8% + 5% offer now and free S&P, stamping and loan legal fee. But the price is ard $790psf, after counted in the rebate.

Actually if you buy for your own stay is a Good location. Mostly i know q many people is buy for own stay or they have very good holding power. For the Blok E, the sale about +-50% SOLD only when i go to the Sale Office Last Few Month. Price already hit RM850/ft2 before discount. For this Pricing, i think for people want for investment need to think 3 time if your holding power is so so only.

So BLK E hit 850sqft… this is just phase 1A.. wondering what will the pricing be for the next phase

@Aglio Olio

I think the buyer get buyer promotion still on. But latest info must check with sales office as we receive that letter months ago.
I am not first batch buyer, so only get 5% discount. You can check on previous post, i think someone did post the price they sell on different phase.

@CapKapak

His SNP stamped last year 2013 ler…

Just visit their page and notice something interesting. If someone plan to buy PWC, for own stay and invest as well, can consider to get the largest unit in their page. (haha.. if can affort lar), their largest unit actually have 2 entrance, dual kitchen and dining hall. So imagine when you grow old, you can live in 1 of the unit happily, walk to next door to collect rental (wakakak) .. or if you have kids and wish them to stay with you , yet afraid the issue of family issue after they get married, can let them stay “next door” to you.
I think this is the new concept which i like it a lot..
But only can look look see see…

Tbrr… now 5% rebate is gone? Only left 8%.. instead of 8% +5%?

@aabbcc
That was the situation when I made my purchase last year. At present I don’t know what is the package offered by ivory.

New update information:
Increase Price RM 3,000 if compare than Feb 2014.

Balance Unit – TOTAL Phase 1A = 79 unit

Block A – 21 unit

455ft2 = 6 unit ; 615ft2 = 9 unit ;
455ft2 with Garden = 3 unit ; 615ft2 with Garden = 1 unit ; 1020ft2 = 1 unit ; 1320ft2 = 1 unit

Block B – 4 unit

615ft2 = 1 unit ;
615ft2 with Garden = 1 unit ; 1020ft2 = 1 unit ; 1320ft2 = 1 unit

Block C – 7 unit

615ft2 = 4 unit ;
615ft2 with Garden = 2 unit ; 1590ft2 = 1 unit

Block D – 6 unit

615ft2 = 2 unit ;
615ft2 with Garden = 2 unit ; 1020ft2 = 1 unit ; 1320ft2 = 1 unit

Block E – 41 unit

872ft2 = 24 unit ; 980ft2 = 16 unit ;
872ft2 with Garden = 1 unit

Look like 92% already sale out … Just Balance 8 % unit only ..

Assuming no sticker game, they have done very well…the site has not even started serious work!
Now net price average 800psf and up to almost 950psf for studios. Early buyers blk A and B are not really complaining coz they hiked 150psf+ in a year.

Cm… very detailed . Thanks for the updates. Btw heard from sales block F will be affordable homes.. some say is whole block. Some say is certain units. Duno how true is it. You all think will have positive or nagative impact?

@cm

So the larger units almost sold out.. Type D (3 units ) Type E (3 units left) Type F (1 unit left) and G

BLK A is the most not popular block, being the first to launch but still left with 21 units.

Jj :
@cm
So the larger units almost sold out.. Type D (3 units ) Type E (3 units left) Type F (1 unit left) and G
BLK A is the most not popular block, being the first to launch but still left with 21 units.

What about compare to BLK B?

Bruce :

Jj :
@cm
So the larger units almost sold out.. Type D (3 units ) Type E (3 units left) Type F (1 unit left) and G
BLK A is the most not popular block, being the first to launch but still left with 21 units.

What about compare to BLK B?

From CM file, it seems that BLK B only left with 4 units.

1. Less units per floor
BLK B has less units per floor (10 to 11 units, some floors come with duplex)
BLK A has more units per floor (13 to 14 units, some floors come with duplex)

2. Sapu by Investor Club?

3. Further from the Monsoon Drain? The left overs are the one facing the coastal highway?

Share your thoughts?

Refer to the “Sticker Game”

Block A balance got 21 unit .. All is facing to WEST ….
Many people think will be Noise or Drain or Sunset or Highway ………..

Block E balance got 41 unit .. I Think is $$$$$ problem.
Example:
Block E Level 6, Sale Price RM889,900 for 980ft2…. RM908/ft2 before any discount
Compare with
Block A Level 6, Sale Price RM873,900 for 1045ft2…. RM836/ft2 before any discount

Block E is more expensive 8%-9% if compare to Block A-D…….. before any discount
VIEW also is a reason. Majority Face North East Finish lo … left Balance 2 unit only .. Another Balance 39 unit is Face South East.
Sea view lo … Will have little bit only when Full Package Complete after 10 Year …..

But anyway, for Developer can Sale >60% already earn $$$$. OK lo…….

For Block F, what i know is affordable unit. Price between RM 400 k – RM 500 K (++Additional Item lo). But don’t know what is the built up area. Still need final confirm by developer.

cm :
Refer to the “Sticker Game”
Block A balance got 21 unit .. All is facing to WEST ….
Many people think will be Noise or Drain or Sunset or Highway ………..
Block E balance got 41 unit .. I Think is $$$$$ problem.
Example:
Block E Level 6, Sale Price RM889,900 for 980ft2…. RM908/ft2 before any discount
Compare with
Block A Level 6, Sale Price RM873,900 for 1045ft2…. RM836/ft2 before any discount
Block E is more expensive 8%-9% if compare to Block A-D…….. before any discount
VIEW also is a reason. Majority Face North East Finish lo … left Balance 2 unit only .. Another Balance 39 unit is Face South East.
Sea view lo … Will have little bit only when Full Package Complete after 10 Year …..
But anyway, for Developer can Sale >60% already earn $$$$. OK lo…….
For Block F, what i know is affordable unit. Price between RM 400 k – RM 500 K (++Additional Item lo). But don’t know what is the built up area. Still need final confirm by developer.

What i understand BLK F is bare unit affordable units with upgrade packs too.. but i am not sure the pricing and size of the units. I guess would have to wait and see

i also heard that next phase (not AH) will be service apartment with few floors of shops below.. not sure how true is it

Jj :
i also heard that next phase (not AH) will be service apartment with few floors of shops below.. not sure how true is it

I heard that as well. Just next to D Residences but not sure true or not.

why not consider Light Linear? same price for much bigger size… 2 car parks…. ready to move in..

@Jj

bare units is it means kosong, probably no car park???
hmmm…
just wonder only 3 floor car park on each building. Not sure how much they will sell it after project complete. That day u saw another new project got 10 floor of car park in the apartment. So the real unit start from floor 11. Haha.. every drive up to level 10 will be very pek check. But in this case when you buy the lowest floor u still can tell people i bought medium floor.

@Bruce

If accroding to the Ivory video clip, very high chances.. can view the movie clip.
The best is there is free shuttle bus everyday in all PWC project. hoho.. can go shopping any day , time.

ooi :
why not consider Light Linear? same price for much bigger size… 2 car parks…. ready to move in..

Light linear is actually better.. Assuming 900K But considering buying subsales you would need to folk out 10%=90k Legal fees assume is 40 50K maybe? And you must be 1st or 2nd loan buyer to be able to get 90% loan… So upfront have to pay around 130k to 140k.. And installment have to pay immediately.

But for Pwc theres a rebate n discount on downpaynment and less entry cost. and installment is due 3 to 4 years later… That makes it more attractive..

To some 140k might be little.. But to some the difference between upfront 40k and 140k is a big difference. =)

@ooi
Only if you have enough cash in hand.

aabbcc :

ooi :
why not consider Light Linear? same price for much bigger size… 2 car parks…. ready to move in..

Light linear is actually better.. Assuming 900K But considering buying subsales you would need to folk out 10%=90k Legal fees assume is 40 50K maybe? And you must be 1st or 2nd loan buyer to be able to get 90% loan… So upfront have to pay around 130k to 140k.. And installment have to pay immediately.
But for Pwc theres a rebate n discount on downpaynment and less entry cost. and installment is due 3 to 4 years later… That makes it more attractive..
To some 140k might be little.. But to some the difference between upfront 40k and 140k is a big difference. =)

Well said.. and some more you need to pay for the renovation cost around 50-100k… unless you want to sleep in an empty unit with matress

tomyam :
@Bruce
If accroding to the Ivory video clip, very high chances.. can view the movie clip.
The best is there is free shuttle bus everyday in all PWC project. hoho.. can go shopping any day , time.

I think you can just walk across the street…..

Why TBR 12 pages.. QWR 2 pages only?

$140K cash pun takde, but still dare to commit to ~$1 million property?…

The market is full of un-affordable buyers.

@lim

lim :
$140K cash pun takde, but still dare to commit to ~$1 million property?…
The market is full of un-affordable buyers.

Of course market is full of un-affordable buyers in sub sale market. Investor think that they can flip after OC. Now all investor kena trap. No sub sale buyer in the market to eat their investment unit. Very serious problem now. I’m not sure how Penang government avoid many Penangites goes bankrupt. A lot of foreclosure in the newspaper. Very bad market condition.

@Concern buyer

Like that only can see price coming down ma… condo units more than 600k quite difficult to find subsales nowadays…

just my opinion, Penangites got too many buyer have very strong holding power or some of them have cash flow in hand … just waiting Sub-sale market drop. for the condo +- RM600k … i think is not a problem for Penangites ready to Grab it if drop from RM850k to RM600k … About (-30%). But, not so easy lo … cause we already have 2 time experience (1997 and 2007)…. IF you got refer to the index … Any economy issue, if you can hold more than 3 year … It will coming back or more ….

So, the important is … are you can hold more than 3 year or not if Economic Crisis come again..
Maybe 2017 ??? hohohoho …

Save your bullet, hit the target ….

@cm

I am saying condo units more than 600k quite difficult to find subsale buyers la… i never said price drop from 850k wo… don’t interpret wrongly k?

But ho, if you invested 850k at TBR now, chances are you won’t be able to sell it with a good profit as long as the lending guidelines not removed… you have to hold long long liao… hohoho…

@cm
Hohoho… This is not 1997 or 2007 where salary and house price is still within range. Current undergraduate starting salary is same as 2007. So who will buy subsale condo more than 600k? I think flipper can forget selling condo unless they plan to sell it below their buying price.

600k condo is very common now in island. Youngsters nowadays prefer luxury and stylish living ambient. They will buy with the help of parents. Asian culture, to own property. Properties might be corrected, but won’t be significant, unless retrenchment happens in bigger scale. Singapore, HK..youngsters normally can’t afford to buy property. Of coz, now is not a good time to flip, maybe small portion of not strong speculator will be eliminated, majority buyers should be able to hold.

@None
If you bother to check household debt, we are one of the highest. So majority buyer will be unable to hold since their debt is very high. More and more Penang condo will OC soon. Prepare for huge price drop from their buying price.

Also, beware of new project. I think abandoned project will be more and more soon.

Flippers used to ask for RM900++ for Light Linear. But they are starting to ask for RM800++ recently. It is slowly coming down. If there are still no takers at RM800++, the downtrend should continue.

As for Elite Heights, the asking price is coming down to RM400psf. If there is still too many units in the market, it could go below RM400psf.

@IJM
It’s just too many empty condo and no tenant. Can say good bye to your investment. Wrong timing I guess.

@ijm
Maybe light linear will drop to 700k, so ready to buy?

@None
Maybe not ready. Foreigner only can buy RM2 million property. Rich people not that many and most of their money stuck in property. 2014 and 2015 will be trying time for property flipper.

Foreigner can buy 2 millions Landed property in Penang, 1 millions for condo..

@None

Light Linear RM700k? Nope, not ready to buy. I do not want to wear ear plugs to bed.

Don’t go day dreaming but if you do then you might be buying The Light Linear
for Rm 800k tonight.

@Waiting
Rm700k buy a cage in the sky? No thanks.

lol…go mudah and see original unit above 900k, reno unit above 1 mil, if below 900k sure many ppl to grab, u still dreaming wait for 700k. Unless economy crisis, owner jobless or no business cant hold any more then sell urgently like economy crisis in 2009, that time many properties below bank value in market.

@==
You can put RM2 million in Mudah. But nobody buying because there is no subsale market in Penang. Feel so sorry for flipper.

@checkout
Are you sure? If it is true, those property agents now should every day eat maggie mee (not my kuali, too expensive) at home.

lim :
$140K cash pun takde, but still dare to commit to ~$1 million property?…
The market is full of un-affordable buyers.

Well If you are earning 15k a month, with a commitement assuming 5k a month. With lets say 120k cash (around a year savings). Like Jj said you wouldnt want to stay in a bare unit if you were to buy a property close to 1mil.

I think a majority will still consider this a affordable buyer.
He might not be able to afford a 900k light linear as he needs to folk out 140k+50k reno

But if he were to buy Pwc 900k unit. with a 40k down. With the balance cash and future savings. he have plenty of holding power.

to make it in calculation

10k saving a month *36month =Rm360000
Plus initial left over Rm80000

You would have approximatly cash Rm440000

installment is Rm4500

You can hold for 8 years, So its fairly safe to me…..

Bottom line is, light linear/pwc project r meant for richer ppl. Some of u guys are not in the targeted pool. So dun need to argue.

@ezalor
Agent told me they able to move below 400k house only. Some seller give 20% discount to attract buyer. But seller still earn because above buying price.

But now developer all launch project with very high price. Anyone bought will regret later.

@None
If you read back comment, some poor investor also interested in PWC because they think can flip. Hahahahahaha…poor fella

None :
Bottom line is, light linear/pwc project r meant for richer ppl. Some of u guys are not in the targeted pool. So dun need to argue.

And as I said, market not ready for that many rich people unit. The price will fall below buying price after OC.

@mau beli
U can ban ban wait.. 5 % price correction maybe. 50 % price drop wor??ridiculous. U think bank negara will allow so many defaulters which will cause Malaysia financial system crash. Now already have lot of measures to cope speculation. I understand some of u fresh grad dilemma, I think maybe BM area is good for u to start…

@None
50% is worst case. It could range from 20% to 50% depending on location. Now some rubbish location like balik pulau increase double. So this place will drop back to original price which is 50% drop. Bank can’t do anything. Just look at Spain property. All dead. Mostly 50% discount. So it really can happen. It won’t happen in 2008 because the property price still within salary range. Now is not anymore. Salary still low. Property price sky high. And we are seeing no sales in subsale market. Property market in Penang is basically non existent. Some more Penang people very calculative. They won’t buy your over speculate price house one.

the Govt has just taken away all the sudsidies + GST next year, this has make Malaysia enter into super inflation up cycle. The assets class like Property & land price will not go down but will continue to rise.

Developer will be operate in a slower market as demand will be affected by buyer’s affordabilities issue.

Maybe secondary market can get reasonable price property for investment, landed one will be better choice.

All people got own opinion, who have holding power is the king in this property market.
Please really go to study our Malaysia Property Index and analysis yourself …
Anything will happen in Market,
For some body is not ready or don’t have holding power. If ready that day you waiting (economy crisis, owner jobless or no business cant hold any more). Are you is the one will buy property at that time. I think most of the people always say want wait wait wait … May be that time you will say Luckily that time i don’y buy. But, now is the timing … Are you will buy when economy crisis???

The market is for people always ready and have $$$ bullet with holding power.

For me any time if have a good location and you think this is the place you want .. Just go ahead. Don’t always listen somebody always know to talk but never action. But, 1 thing is .. you must always ready to take the RISK… You are able to take the RISK.

None :@mau beliU can ban ban wait.. 5 % price correction maybe. 50 % price drop wor??ridiculous. U think bank negara will allow so many defaulters which will cause Malaysia financial system crash. Now already have lot of measures to cope speculation. I understand some of u fresh grad dilemma, I think maybe BM area is good for u to start…

Agreed with your statement. don’t be silly, 50% drop?! Buy one free one ker

@cm
It’s not take risk or not. It’s just no market. Not subsale buyer. Nobody buying RM800k condo. You need to understand this before talking. You hold also no point. You only pay money to bank.

@cm

Good point! RISK. A simple word, but with deep meanings. Stupid people always end up in deep shit after taking risk, smart people always make lots of money after taking risk. Both are risks, but different results….:)

@Mau beli

Not so bad lah until no buyers for RM800k condo . Prime location, anytime can get a buyer. The prime wannabes and outbacks, haha, struggle loh.

@jojo
Prime is how prime? Even Elit height no buyers. LoL

@Mau beli
For me, prime location is some place like tanjong tokong,gurney,pulau tikus& Georgetown.. All this place won’t drop..

Go to Tg Tokong & Gurney to take a look.

The consumers are from different category if you compare with who you see in Bayan Baru, Relau, Bayan Lepas & Sg Ara.

The people in Tg Tokong & Gurney are middle aged with accumulated wealth, businessmen, expats & foreigners.

The people stays Bayan Baru, Relau, Bayan Lepas & Sg Ara are working in factories…wage earners.

People from Tg Tokong & Gurney hardly come to south west to spend.

@

Mau beli :
@None
50% is worst case. It could range from 20% to 50% depending on location. Now some rubbish location like balik pulau increase double. So this place will drop back to original price which is 50% drop. Bank can’t do anything. Just look at Spain property. All dead. Mostly 50% discount. So it really can happen. It won’t happen in 2008 because the property price still within salary range. Now is not anymore. Salary still low. Property price sky high. And we are seeing no sales in subsale market. Property market in Penang is basically non existent. Some more Penang people very calculative. They won’t buy your over speculate price house one.

Worst scenario, a couple living in penang can still afford buying there own home in Penang Island. Actually Plenty of subsales unit that is still affordable to the people. But ppl that can afford 400k house wants to live in 800k or ppl that can afford 300k want to live in 600k. If like this ofcuz they cant afford the house they want. but they can definatly be able to afford buying a home

You said “”Agent told me they able to move below 400k house only. Some seller give 20% discount to attract buyer. But seller still earn because above buying price.”‘

I guess your agent is focus in a lower end market. Ntg wrong with it. But different agent focusing in different categories have different customers. But anyway i cant find any seller willing to sell 20% below market value. If Sellers is really desperate they would have listed online eg mudah with a 20% price lowered.

But anyway have you bought any units in Pwc? If not you have bought or invested in any property in penang? As you seems very doubtful of the property market in the future..

@aabbcc
I think he meant that there is not many can afford 800k condo but developer keep on building it while investor bought it. So Penang property market will collapse.

@aabbcc
Yes, I do own property in Penang Island.

What I tell you is the truth. Penang property market is going down. Not many buying above 400k condo in Penang island but there’s a lot of seller. So it will not do well. Many flipper trying to let go but unable to. Real buyer are waiting at sideline.

I too own multiple properties in penang in prime areas. The capital appreciation over the last 3 years has made me a fortune, a fortune I would not otherwise have earned doing something productive (eg. having a job). Pls don’t tell me there’s nothing wrong with our economy! I think our state gov has screwed up.

Don’t get me wrong, I know they have done a good job clamping people’s cars, issuing parking tickets, selling state lands, BUT, I think they are just going to sit there doing nothing about the yawning gap between the haves and have-nots (young fresh grads).

What do u want state government to do? Shoot those own multiple units owners? Kick them out from island and confiscate their properties? It is the whole financial system loophole, middle class will be wiping out, M shape society is forming. Just the matter how you position yourself…

@kuehkak

Why you always make no sense one? Make fortune still want to blame state government and others…

Haha..yeah lor, if got so much 良心, should sell with half price mar…

@None, Teng

Hahahaha, well, I was lucky I could “position” myself when I saw these “issues” coming with the resources I have accumulated over the years. As much as I would like to help those innocent young people, it is not my responsibility to do so. If I sell my properties half price, the limited number of properties I have would only benefit the lucky few….:)

However, the gov has the responsibility to make sure the people gets a decent quality of life. If the state had controlled things well, THOUSANDS of young people would have benefited. No?…:)

@kuehkak
True. But I think its not the government problem also. This is willing buyer and seller market mah. Since the buyer want to pay more, then it is up to the buyer to pay la.

Let’s say I bought a property at RM400k in 2008. So if the buyer willing to pay RM700k for my property now, I won’t stop him from paying right?

But unfortunately nowaday, a lot of buyer willing to pay RM700k but cannot because they cannot get any loan. So I want to sell RM700k to the buyer also cannot.

Furthermore, due to the current market condition where supply is more than demand, buyer also can slowly take their time to wait and see and choose until some seller/flipper decided to let go at much lower price than market.

Actually nowaday most subsale are selling below market price. And this means subsale market already drop price already. After survey a bit (you can do it also), the subsale market actually 10% below market price already.

I also check government website about new launches and compare their selling price. Actually the selling price is much cheaper than the price they submit to government.

Overall market condition is pretty bad and all this high price selling already long gone. Going to be worsen in the next few months after selling unable to wait any longer.

Mega sales coming soon.

All the never-ending theoretical talks here are in wrong forum thread. Better stick back to TBR related issues.

@pwc
Actually it is still related. PWC cannot sell because of Penang Property new launching market is at the verge of collapsing. Even Ivory staff told me PWC is not very encouraging.

@Concern buyer

Well, you are not wrong to say that in any market (either bear or bull), there is always a willing buyer and a willing seller.

Example, there were a few Bursa counters which prices shot up 20% within last week with hefty volume. Willing buyer willing seller right? Sure! And there were a few Bursa counters which prices collapsed 50% the week before with hefty volume too. Willing buyer willing seller right? Sure! Otherwise the volume wouldn’t have been hefty.

But the question we have to ask ourselves is, by allowing such speculative “willing buying willing selling” that causes “rapid” swings in prices, does it have a NET BENEFIT to the people?

And then the question comes, aren’t the gov of the day suppose to impose policies that will result in stability? Why need gov and policies at all if we can thrive on “willing buying/selling”? Might as well let everyone do things at their own WILL??…..:)

But the answer is, we need gov and policies to keep things STABLE, so that everyone can be in the productive best, so that we can progress from living in caves to walking on the Moon.

Back to main topic, housing is everyone’s basic rights. It should not be allowed to be used as speculative trading goods. We should stop selling our properties to foreigners, before we loose a big chunk of Tanjung Tokong to them!!

But very likely the answer is, we need gov and policies to keep things STABLE, so that everyone can be in the productive best, so that we can progress from living in caves to walking on the Moon.

Back to main topic, housing is everyone’s basic rights. It should not be allowed to be used as speculative trading goods. We should stop selling our properties to foreigners, before we loose a big chunk of Tanjung Tkng to them!!

@kuehkak
Very true what you say kuehkak (I actually love to eat Char Kuey Kak in Lorong Macalister that have the great Chee Cheong Fun).

That’s why BNM and Penang have put in RM1 million/RM2 million minimum foreigner purchase for condo/landed. And to avoid speculation for basic home for Malaysian, loan is now harder to get (almost 60% rejection rate).

All this have put in and make our property price in Penang coming down. Subsale have drop 10% in price. Less and less speculator/foreigner are able to buy basic property in Penang.

I think this is good news. We just need to wait for a while for the price to tumble further and it’ll be more affordable to all Penangites.

But unfortunately the household debt at 85% means most Penangites are saddled with debts. So probably the demand will be still weak because most will not be able to get loan.

In the end, Penang might suffer a property crash. I hope the crash is not too hard or else, we see many people jump.

@kuehkak
Very true what you say kuehkak (I actually love to eat Char Kuey Kak in Lorong Macalister that have the great Chee Cheong Fun).
That’s why BNM and Penang have put in RM1 million/RM2 million minimum foreigner purchase for condo/landed. And to avoid speculation for basic home for Malaysian, loan is now harder to get (almost 60% rejection rate).
All this have put in and make our property price in Penang coming down. Subsale have drop 10% in price. Less and less speculator/foreigner are able to buy basic property in Penang.
I think this is good news. We just need to wait for a while for the price to tumble further and it’ll be more affordable to all Penangites.
But unfortunately the household debt at 85% means most Penangites are saddled with debts. So probably the demand will be still weak because most will not be able to get loan.
In the end, Penang might suffer a property crash. I hope the crash is not too hard. Many people will suffer.

@kuehkak

If you are thinking the price still continue to go up after all the bank rules, you must be still living in yesterday… please wake up.

@Teng
Yes, you’re right Teng. Price is now dropping. With household debt at 85%, not many property buyer in the market with good financial standing. Which translate to no demand for property above RM400k. This will cause property price to crash and eventually driving out all speculator/flipper that cannot service their loan with negative equity environment. Even worse for those that bought in non-prime area that cannot rent out their property.

yawn…….

@Jj

Jj :
yawn…….

That’s exactly the market condition of the Penang Property.

Jj :
yawn…….

That’s exactly the description of the current market condition of Penang Property.

everyday say property crash, i own 4 properties in island, so when will it crash???? if drop to 400k in good location, i will buy more…so tell me WHEN…….

everyday said 85% HH debt….how many percentage contributed by properties? 45% by mortgage; 18 % by vehivcle; 17% personal. so car price will drop, ppl will go jump off building?

@None
I also own 3 properties in Island and 2 in Mainland. Since my cashflow is good, I also aiming to buy more when it crash. You can ask the agent to get the feel of the market. Actually I don’t have to tell you. When the time came, you will know it.

Seeing the household debt at 85%, I’m sure the crash is soon when more unable to service their loan. I have too many cash in my hand which I think you also have many cash. As for most Penangites, most are flippers that over leverage on their loan, when they unable to flip, most will sell below market price. This is what happen now.

Those of us that is cash rich are waiting for this moment. Those of you who are just working and have some cash to spare, maybe you can wait also.

None :
everyday said 85% HH debt….how many percentage contributed by properties? 45% by mortgage; 18 % by vehivcle; 17% personal. so car price will drop, ppl will go jump off building?

Its does not matter. Once household debt is high, nobody actually able to buy anything. Business suffer. Flipper that is business owner will suffer and will let go their property at any price. Household debt also means that many will not be able to get loans. Translate to no property demand. Penang property is not moving at all.

This is suppose to be a good opportunity for the state gov to intro further tightening measures to trigger further negative down trend in property prices. But sadly, I think they don’t have the balls to do it. Big developers would be calling HIS (you know who!) personal number to “question” him!

Our admin is almost at the mercy of those powerful developers!

horfan :
This is suppose to be a good opportunity for the state gov to intro further tightening measures to trigger further negative down trend in property prices. But sadly, I think they don’t have the balls to do it. Big developers would be calling HIS (you know who!) personal number to “question” him!
Our admin is almost at the mercy of those powerful developers!

I think BNM wanting to increase BLR. Let’s wait. This will trigger massive sell down in property because people will be hardpressed to service their loan.

And what happen to Chelliah Park City at Jalan SP Chelliah??? Nothing, nothing at all, is going on at the site! It has been 2 years since the announcement! I would be very interested to see what they can deliver!

If you want to let land owners and developers make big money freely, if you want to let foreigners buy our land and properties freely, you make sure an equal amount is being paid back to the people! Don’t sell us out!!

@horfan
I saw the low cost flat opposite Chelliah is repainted. I also wait for Chelliah to be built so that Georgetown will be more alive.

@horfan

You may also want to blame it on GST… all developers said price will go up further when GST comes.

Teng :
@horfan
You may also want to blame it on GST… all developers said price will go up further when GST comes.

All price up? Hahaha.. now price not up also no one buying new launch condo. Developer talk crap only because now no one buying their condo. So this is scared tactic to ask you all to buy before GST.

Price is actually spiralling downwards.

Concern buyer :

None :
everyday said 85% HH debt….how many percentage contributed by properties? 45% by mortgage; 18 % by vehivcle; 17% personal. so car price will drop, ppl will go jump off building?

Its does not matter. Once household debt is high, nobody actually able to buy anything. Business suffer. Flipper that is business owner will suffer and will let go their property at any price. Household debt also means that many will not be able to get loans. Translate to no property demand. Penang property is not moving at all.

I agree with Concern buyer. But why so ‘ho sim’ teaching the young greedy speculators?

I believe foreigners also stop buying when Spore, Hong Kong & China property prices are down at this time.

What we need is a small recession to trigger a perfect storm in property sector.

interesting.

so how long i have to wait to see the crash?

I am ready to enter the market after the crash. My bullets is pilling up now.

@Concern buyer

Tell me when ya? Estimate to be next month. year end, next year, mid next year?

@Teng

Concern buyer is correct. Developers and speculators are using GST to “scare” people. Not to say that GST will not increase cost of building material, but you have to be clear in mind what is the DOMINANT factor affecting property prices, especially in Penang.

Poor Man :
@Concern buyer
Tell me when ya? Estimate to be next month. year end, next year, mid next year?

My guess is Apr 2015 is the latest (once GST kicks in)… or earlier if external factor not favourable.

So, it would be the exact opposite of what the developers tell us, about GST price increase etc.

@bulangsai

I only believe in speculative buying of property that has spiraled up the price for the last few years… no need to bring up the bs reason on state government to me again… it simply doesn’t hold water… think Johor when you try to put forward your agenda next time…

@Rich Man Thanks for your feedback.

@Concern buyer How about you? What do you think? I know nobody will know the exact date, but based on all the data you have, what is your estimation and why?

According to last year statistic, transaction goes down but price doesn’t.

Even the price does drop drastically due to certain reason, e.g. market crash, interest will definitely goes up, e.g. from current 6.6-x%, to lets say 10+x%, as what happened during 1997-98 period. Bank will make the lending rule even tighter, and the hefty interest will no longer make it attractive to enter property market anymore.

Market sentiment will also be so bad that nobody dares to put their hard-earned cash into any sort of investment (including property) especially knowing they may lose their jobs anytime.

So for those average joe thinking to enter market after price crashes, pls think again. Even you are cash buyer you also too scared to enter market at that time. Unless you are as rich as YTL who is cash rich enough to sapu buki bintang during the last recession.

Nevertheless, history does tells us that as long as you can hold on to the property long enough (e.g. 10 years), the price will definitely correct itself appreciatively.

My message here is, there is no perfect timing to enter the market. Buy good property within your affordability, don’t keep thinking of flipping it but treat it as long term investment, you will be in safe side.

I do think that at current situation, there may be some good deals in sub-sale market as those buyers who purchased earlier with much cheaper price may be willing to sell with lower profit in view of the softer demand in the market. But don’t ever dream that it will be major mark-down, and this kind of deal you need to find hard to get one.

As for new property from developer directly, there is no way they will bring down the price. Firstly they may already purchased the land with a premium price, secondly the last 3-4 years they have already earned enough to keep as buffer to ride through the tough period. Look at Ivory and Tropicana, they still price PWC, the central, 218 Macalister etc with such price and they wiling to sell slowly.

And those thinking that existing buyers do not have holding power to hold on to their property, please think again. Unlike US bank prior to the sub-prime crisis where loans are given loosely to any tom dick & harry such as fresh college graduate, Malaysian bank are much more conservative. Even before the recent rules tightening, the bank has been very careful in giving out loan, proven track records such as stable employment history, CCRIS, and etc. are a must before the loan will be granted. Therefore as long loan is approved, one should possess a certain financial quality to serve the instalment each month.

Under such tight assessment criteria from bank, what makes you think that those existing buyers cannot hold on to their units now? There is also an option to rent out the unit, even with lower rental, as long as can help to offset some of the instalment.

So do existing home speculators/investors/owners under pressure to dispose of their units now at discounted price? I don’t think so.

@bta
strongly agree with u. Some of them wish that properties price will be crashed. as one of the guy pointed out, take Spain as an example, property market crashed in 2007, and unemployment rate was as high as >30%. i agreed that minor price correction and tighter lending measure are needed to control property price, but definitely not a drastic >50%. so watch what u wish for.

Guys, if end of this year price still not drop significantly, market still not crash, will you guys still continue to talk again about “market crash” in next year, and following years if next year crash still not happens? I started to join this forum 3 years back, and almost every project sure got people talked about market going to crash. It is like weather forecaster keep saying “it is going to rain”, every month repeat the same thing, and at the end one day it really rains, and the forecaster proudly says “I told u so”.

ezalor :
Guys, if end of this year price still not drop significantly, market still not crash, will you guys still continue to talk again about “market crash” in next year, and following years if next year crash still not happens? I started to join this forum 3 years back, and almost every project sure got people talked about market going to crash. It is like weather forecaster keep saying “it is going to rain”, every month repeat the same thing, and at the end one day it really rains, and the forecaster proudly says “I told u so”.

But it is dropping now. So it is crashing. Please ask agent. They unable to move unit above RM400k. Even new launches have difficulties in selling. This is different from 3 years ago. Please open your eyes. Even news said that there’s slowdown. China is also on the verge of collapsing.

@Concern buyer

I am looking for a unit at Gold Coast. I am willing to pay RM500k for the 1100sf high floor unit. Not sure which apartment unit above RM400k that your agent cannot move…

Honestly do not wish to see the market to crash.
Some people might think that once the market crashed, they could grab houses at cheaper price.
In real fact, market crash not only affecting property price but also daily life in many ways!
Is true that some cooling measure was needed to slow down the price growth to ensure it grows healthily. Simple example was our nearby neighbour (Singapore) has implemented 9 rounds of cooling measure.

@Concern buyer
The $400k unit was it because of location?
If it was at good location, i dont think it will be hard to get rid of it.