Player
You are not doing your job
The view page drop to #3 now
You should bark more to maintain number 1 ok ?

@Play play

How do you want it to be ? Play it from your back or you knell down singing ?

@ Ooi
1 unit Type A in Tower A
7 units Type A in Tower B.
All units at RM 1M++

I’m not surprised only these few units left.Must be corner units with bigger space.This project response being so good that E & O did not participate in the recent property fair held at Gurney Plaza/Paragon.

Of course everyone will be surprised when E&O open up their sales book with so many left over.

Go fly kite with this misleading information.

@filterfren
Thanks for your info. Type A is indeed takes time to sell (the most expensive units).

I feel abit regretted buying 1 unit here. By looking at our political climate, I bet its hard to sell it off after the project is completed. and I have to compete with the rest of the 1103 units. Sh*t….

In fact all are imaginary sales mock-up to make it looks good. Very, very misleading and full of deceptions.

Did someone say Inceptions ?

Tamarind owner :
I feel abit regretted buying 1 unit here. By looking at our political climate, I bet its hard to sell it off after the project is completed. and I have to compete with the rest of the 1103 units. Sh*t….

You can have 1000 neighbors. Where to find?

Tamarind owner :I feel abit regretted buying 1 unit here. By looking at our political climate, I bet its hard to sell it off after the project is completed. and I have to compete with the rest of the 1103 units. Sh*t….

Not only this project lah, other “on going” or “just completed” projects are the same. No more eager buyers in the market now but observers instead. You offer cheap price, they bargain for cheaper, finally no deal………This will continue in the next few years I guess, or maybe worse!
This is normal in investment world anyway, sometime win sometime lose….nothing to shout about.

@Truth

Maybe Tamarind owner is one of those who got “baited” into paying RM800-900psf for this Tamarind. This kind of price for this kind of density, I think that’s a rip-off.

From what I see,

The most expensive units ranging from 1.3m, 1.4m and 1.5m have all been sold out.

Units without view “cheap units” looking at Jazz or government reserve also all sold out.

The available units are facing Tanjung Bungah hill and some sea view which i think is pretty nice and it is price reasonably around 850k for the 1047sf units and 1372sf unit at around 1.1m

@elan
Surprisingly, until today there are still plenty of people rushing to invest in such property, even at Bayan Lepas/Batu Maung area at this price. (Example : Queens Residences & The Loft)
I can only say that those developers are really really really good at “baiting”………
I guess many people just don’t care what will happen in the future, as long as they are not required to pay much to get something “expensive” now.

@Property 123

From what I know,

A lot of Tamarind buyers committed their purchase when the bad property market was not so obvious. But I think it is very clear now, that this is a ripoff. In fact, many buyers who got it “cheap” (around RM700psf) will end up staring right into those giant exhaust fans, smelling fume and having those roaring exhaust fans as lullaby. In the end, E&O always wins. :)) Hahaha

No more sales talks if the sales was that good !!!!!!!! No body wants.

@elan
No worries on the exhaust fans. The sight would be covered by a wall by mid of next year. These fans will not be visible after that.

As for paying RM 800 to 900 psf, I would agree it is a rip-off.

@filterfren

To pay for a Proton for 60K is OK as it has 4 wheels, 4 doors and it brings you to your destination.

To pay for a Mercedes for 300k is a rip off when it also does the same?

I will surely choose a Mercedes if i can afford This is because of the quality, the specification and brand.

Same reason that I will buy from a establish developer if I can afford

totally agree. no subsale market for high price condo.

@Property 123
Could you specify and the quality you are talking about ?

@Player
Bayswater… Summer place..& The View..

@Property 123
Agree those projects are far far better than Tamarind..

Residential with great nice environment..
Bayswater 200k+ now 850k+
Summer place 400k now 700k+
The view 500k now 1M+

Tamarind 700k+ now 760k to 820k only.. Bad appreciation commercial title & high dense..

@Property 123

I think this is Camry quality selling at Merc price. It’s like there is a few that were sold at Camry price (but with leaky oil under the bonnet), and the rest sold at Merc price just because it’s fitted with useless accessories like spoilers and sports rims.

@Storm

The View? It is condemned. Summer place? No comment. Bayswater? Well, not that great, but those who bought from developer got it real cheap. So no complain. Tamarind? Still in construction phase lah, bad comparison.

Property 123
I don’t see any quality in these 3 places you have stated. How do you explain in quality by E&O ?

A lot of factors contributed to buying a property you desire,market situation,right timing,your connection(first hand news),affordability and etc.Good times for making huge profits won’t stay forever and you need to be smart not to fall for it.New projects that were completed last year and this year are facing such a dilemma.Current market is over supply and definitely is a buyers market.You can bargain and have many choices to choose from.Only established developer and prime location will sell pretty well.Still,I feel if you’re buying for own stay,then whats the problem?Bottom line is if this property appreciates upon completion estimated around early 2019,then its good enough.

So there is no quality in E&O project. Only trying to promote the Margarine in Tsunami Bay with white ants infested landfill.

Please talk with facts and data instead of keep writing the same comment. Please learn from Phang.

@Desmond
You learned from Pang and he learned from me. If you have facts, where is the quality ?

@ Storm
And there are NO BUYERS for Bayswater, Summer Place and The View due TO 2 MAIN FACTORS: Lauzy location and High price! LOCATION with amenities is the only major factor which determines and maintains the future price factor of a project. The above 3 projects has NONE of these major factors, which explains the ZERO purchases in the secondary market.

Bayswater’s location is not lousy but it is definitely overpriced. However I’m seeing an increasing number of Koreans and expats staying there whom are probably their target market now. For locals and investors, there are many other better options for the same price psf.

@filterfren

Less than 2mins can reach Penang Bridge, 10mins to reach airport, full seaview you still said lousy location… Tamarind really screw up your brain.

u all are wrong, over demand for bayswater, thats y price keep increase, from around 300k increase to around 1mil, u try call agent and ask for view, mostly agent will reply u sorry sold out or will let u know once gt unit for sale…due to over demand

water fish :u all are wrong, over demand for bayswater, thats y price keep increase, from around 300k increase to around 1mil, u try call agent and ask for view, mostly agent will reply u sorry sold out or will let u know once gt unit for sale…due to over demand

If what u said is true, why Vertiq cannot sell? The price has been maintaining for quite some time. Are you saying that Bayswater is better than Vertiq even it is older by ~10years?
Bayswater “was” once a hot cake when it’s price was <800k, now no more liau lah. Old building + high density + plenty of tenants. But the rental is good, can't deny.

That area is “equipped” with TNB power station and will affect humans for long term exposure could cause cancer !!!!!!!!

@LIU
Which area?

@LIU

Got forumer mentioned gov reserved land next to Tama will be TNB substation. You not scared?

@ Ismail
In and around Tesco, Gelugor.Like Vertiq,Pearl Regency,Bayswater and Platino.

@LIU

Thanks.

@Namwee

That is purely rumours, tactic created by anti Tama forumer to scare ppl.

Not sure on this..but the gov reserve land next to tamarind is possibly City of Dreams 2. Anyone can clarify?

Imaginary sales so good,no need further discussion. A disaster,unfavourable and disadvantage area ripping off people’s money with their sales agents abetting the sales.

2 of the Top 3 most active projects in Penang are from STP. Thanks @Player for your contributions.

@Player

Thank you. You also contributed in making number of Tamarind’s comments more than 3K.

Sewage Treatment forum for Tamarind.

@Player
I think your coach already gave up hope on you.

There will be another condominium coming up next to Tamarind developed by Ewein Zenith who are currently building the City of dreams in STP.Now they are focusing on COD which surprisingly sales are good.I won’t elaborate more here and nothing is finalized yet.A lot of speculation earlier on but it seems a reality now.The land is too expensive to built something else but a condo despite property market is really soft.

Dear Mr. Ken Lim,

On land next to Tamarind, can your goodself find out for us the details including what type of condo, how many floors and units. also the price per sq ft?

Thank you.

@ Phang

Yes, dreaming of good sales and when will Tsunami strikes again ?

If a tall condo is built beside, then Tamarind high floor also view kena block. If it is a TNB sub-station as indicated in MBPP plan, then high floor people won’t be affected, but low floor people will get cancer. Whatever it is, bad news anyway.

@Leong,

I din see any TNB sub-station in MBPP plan. Are you sure you are looking at the right plan?

@Long

Not sure, mine was from Jabatan Perancangan. But it is possible there’s a change of plan, our state gov nowadays see money only eyes open big already. Another condo means more money for the state.

Make sense.

never mind , just buy in stupid & gain in future! in this world only the crazy & mad investor can make money,, wait & see & see & see ..finally nothing like warren buffet said invest & continous invest !

Stupig player
Why you stop comment and let this forum silent for so many days, please do your job , you need to bark more to maintain number 1 view page.

Good one ….

@ Play player

Don’t change your identity Ms Png. An idiot trying to be a “hero” ?

@Player

Please do your job to promote The Tamarind instead of trying to be real idiot to wrongly guess who is @Play player.

@ Player’s daddy

Come here and reveal your real identity. Ms Png don’t try to fool yourself.

@ Ms Png

Seem that Ms Png is just too shy or “no face” to respond ?

I have no idea on what you are talking about. I am who I am. I am not play player nor your dad. Please wake up.

just paid the check and will sign S&P this Saturday. 1047 sqft low floor facing the government reserve land….

TNB power station what ever……if E&O developer plan like this and affects it’s own property 6.9Acres Tamarind, then i would say E&O is not a good township planning developer. Given the track record, they will not do that. the 4.2acres land sell to Ewein Zunith at RM866 per sqft , if Ewein put a power station in front of their entrance, i would think not possible.

in front of Tamarind/Ewein City of dream 2 will be the Ring road. the high rise units might need a double glaze window glass as the sounds might go up high floors.

@ Ms Png
Too many identities until you forget your own.

@Player

Asked you to wake up but instead you choose to sleep. Like this sure you will loose your balls.

@new buyer
You are one lucky purchaser to secure a cheap unit from a loan disapproval from another buyer. How much you paid for your unit? In my view, any unit is good here as long as the cost is lower.
You must have paid around 735k is my guess……..

@ Ms Png

You has already lost your balls when you changed your identity.

hi filterfren:

My low floor unit is facing the government reserve land with uncertainties and some handicap. Previous buyer definitely purchase quite cheap as he/she purchased one year ago. The cost for my unit is low. I am ok because it is well below average selling price for 1047 type C.
It is not appropriate for me to disclose the price here in order to respect other buyers who have purchased at Average selling price during launching when it is hot.

my purchase price is < RM735K as it is not pool view, not sea view , not high floor. E&O is a reasonable developer and impartial and fair to all buyers.

@new buyer

You are lucky to secure one. Which floor? Also how you managed to get it? You under waiting list?

@ Janet

There is no such thing as luck in The Margarine. Very easy to get a unit for those that are “stamped” with their eyes by the “stickers’ game”. Landfills with white ants and Tsunami location.

@ new buyer

Lucky girl……. congrats!

hi Janet and Filter fren :

i) let me share with you my expeirence. I walk into E&O sales office in Apr. Like usual, the sales person introduce me various unsold “expensive” and handicap units. Like usual, with many years of invest in property experience, i ask for more discount from E&O management. unfortunately, My request has been declined. This show E&O has sold >70% and is making profit and they are not eager to discount further. I respect this and confirm this E&O is really high class developer.

ii) then, i keep constant conttact with the sales person in whatsapps. and requested the sales person to contact me if there is ” one day special sales special offer” open to all potential buyers. i wait until mid of Aug, the sales person call me and tell me there is one avaliable unit suit my taste. the Sales person ask me to come before 6:00pm to pay the booking fees = which are the amount i need to pay to sign S&P within 3 days.

iv) Background check on the unit i buy is 10% higher compare to last year launch. i think it is ok and fair to all buyers, i buy it.

hi Janet /filterfren :

there are still 50 -80 units left. my advice to you all. Be polite and nice to the sales person. if there is a available unit, they will call you from the waiting list.

@new buyer
Your patience and politeness has finally paid off! When you are good yourself, goodness comes back to you many times over. I’m happy for you.

@new buyer

Thanks. May I know which floor you buy?

@ new buyer

A hooker is pretending to be a student in deceiving for monetary gains from customers.

No need to be a “story teller”. One say more than 70% sold but the other said 95% sold.

Trying to deceive the public again with their stagnated sales.

ya, I heard quite a lot of buyers cancelled their booking. If anyone love E&O so blindly, maybe this is a good chance to buy.

@jj
Do you have any idea how many units being cancelled? I intend to buy a unit of 1047sq ft. Thanks.

@JT Ong

I am not from E&O, so I do not know the details. I got info through a friend who is an agent. What he can confirm is around 50 units got cancelled under their agency, mostly the very expensive ones (yet no good view), and those very terrible one with direct multi-storey car park view & potentially TNB substation/iwk view.

@jj

Thanks. I will contact E&O then.

When we will need to pay the 3rd 10%
I only get 70% loan
Need to perpare the money

Well, it depends on which floor you bought.If your unit is higher, then probably next year.The progress now is on level four.Good job so far.

Mine is above 30
I am still thinking by end of next year, will reach my floor or not.
S & P say is 4 years, if by next year the structure already can reach the top, then mean is super fast, my money noy yet dry.

Long way to go.Expected completion for this project is early 2019.To be more accurate,its best that you refer to developer.

Just to share some positive news for those who purchased this project.It was reported in the Star paper today by E&O under Biz column page four of having achieved over 90% sales for Tamarind despite weak market conditions.Do check it out especially the unconvinced one.

Star paper = Toilet paper. If E & O lies, everyone follow suit. Nothing to believe. All bullshits.

@Phang

Great news. Thanks for sharing.

@Phang

With a total of 1000+ units, 90% sold means 10% unsold means still another 100 units unsold?? That’s not that fantastic considering they started selling beginning of last year.

@gigi

Its a great achievement for E&O in terms of sales despite the current cool market.I’ve seen several projects launched much earlier and their percentage of sales are around 60% or so.The present over supply of new properties and difficulty of obtaining loans is a real issues.Gone are the days where new projects are sold out within a short period of time.If Tamarind were to launch in 2014,it would have been sold out by now.The real facts determines.Many developers are holding onto their news launches because of this present market trend.Do make some survey and you’ll know what I mean.I maybe wrong and probably some experts here can share with us their opinions.

Totally agree
Now the market is slow
But if you don get it now
Dont red eye people make handsome profit
Cause 2019 the market will boom again

Yes,you’re right.I predicted by the time this project is ready,that is early 2019,our property market will boom again cos’ by then most of those newly completed condominiums beginning from last year,this year,next year and even 2018 will be slowly filled up by then.At the moment its the buyer’s market.A lot of sub-sale in market now.Happy hunting.

Units 5, 7 and 9 in Tower A are the best located, where heat from the sun is concerned. These units are protected well, from the morning as well as the evening sun. These are the ‘cool’ units, especially unit no.7.

@filterfren

How about Tower B?

Phang :
Yes,you’re right.I predicted by the time this project is ready,that is early 2019,our property market will boom again cos’ by then most of those newly completed condominiums beginning from last year,this year,next year and even 2018 will be slowly filled up by then.At the moment its the buyer’s market.A lot of sub-sale in market now.Happy hunting.

Then you should buy more. Still have 100 units left what.

Yes, very bad sales indeed. Need some introduction for the Tsunami Bay.

@filterfren
I don agree lo
The price that E&O set already give you the idea which facing is the best
It should be Swiming pool view follow by play ground view.
The hotel facing should less expensive cause no view but you already get better offer from the developer

@James
I’m solely talking about the non-heat (sun) facing units! Not anything else. Unit no.7 is the only unit with the coolest temperature.

Anybody knows any DAP YB that can help to “settle” for a cheaper unit at Tamarind?

any one know when is the next progress payment ? ie the 30% thanks

Phang phang :Totally agreeNow the market is slowBut if you don get it nowDont red eye people make handsome profitCause 2019 the market will boom again

What makes you so confident 2019 market will boom? Please share.

Phang :Yes,you’re right.I predicted by the time this project is ready,that is early 2019,our property market will boom again cos’ by then most of those newly completed condominiums beginning from last year,this year,next year and even 2018 will be slowly filled up by then.At the moment its the buyer’s market.A lot of sub-sale in market now.Happy hunting.

All completed condominiums will be filled up by 2019? What a joke : )
It will be the opposite bro, more & more unsold condominiums/apartment in the market instead. On top of current unsold units, thousands & thousands units of condo/apartment are in progress/completing now, they’ll join in soon. eg.Mont Residence, Skyridge, Alila 2, City Residence, Jazz residence, Marinox, Mira, Landmark, Tamarind etc. Don’t forget about those affordable houses too I-Santorini & TRI Pinnade. How to fill up in the next 2 years??

@ Anne

They are taking a very long time to build only the car park. It’s a “holiday ” time !!!!!!!!!!!!

With so many developer units left, don’t think can compete with them for subsale… 5k a month interest will bleed you gao gao..

any one know toto will open what number this coming saturday?

@ ahbeng

For a chinese you should know very well to consult a medium known as ” Ang kong” to get your prediction. At the same time you could ask how much is this project or unit could lose when completed ?

@Player

Got people loose money one ar for projects buy from developer? Not the price alwasy go up one meh?

@ahbeng

Where got sure win one? You see Tamarind early birds all loose.

@Truth
Penang is one place in Malaysia where you can NEVER go wrong in property investment. When there is a downturn in the market, it is always a temporary phenomenon, especially if its located on an happening island like Penang. History has proven time and again since the 1970’s that you can always always count on a property investment in Penang. The most ideal wish would be to have 1 landed property and 1 apartment/condo. Then you are set for life!

@BB
”Where got sure win one? You see Tamarind early birds all loose”.

E&O is one of the smartest developer around. They sold the higher priced units to RICH people
(the early birds), very well knowing that the rich don’t care if its a right or a wrong decision, as they have a lot of dough to hold on to it. So its a win-a-win situation for both parties. I feel for those middle-class ‘early birds’ who may have got carried away in the frenzy. Nevertheless, not to despair as for this type of location, you can always recoup at least your capital anytime, if need arises.

The early bird’s did get a better price. Their nett price confirm cheaper by at least rm30k-50K

@ filterfren

The Margarine ( Tamarind ) is the only place you can go wrong in property investment. Those who bought have been taken for a ride !!!!!!!!!!!!

@Player’s daddy

No…… you are incorrect. The early birds got the same 8+5% discount as the others. The only difference was that they got to pick the units of their choice first, albeit at a higher price for the so called ‘choice units’. Like I said, the rich don’t care and don’t think about the price they pay. They like something, they just pay!

Sifus, Which project worth buying currently?

@ filterfren

“The rich don’t care and don’t think about the price the price they pay”.

Do you think they will become rich as the way you said it ? Definitely no, they will become like “YOU”.

By the way, the rich don’t stay at Tsunami location.

This title is apartment not condo, gd luck to investor, they doing promotion now, free samsung note 7, early bird lose a phone, this developer so cute haha…

@Player

The rich don’t stay in Tamarind because they are Investors. They know where to put their money in for better returns and they chose Tamarind. Not like you, frustrated because you missed this golden opportunity to own a piece of a prime location property.

@ filterfren

The rich don’t not buy a Tsunami and white ants landfill location. Whom do you think will buy ?

Many units still available. Don’t bullshits.

Early birds do get rm30K-50K in savings. Of course the discounts are the same but the list price was increased by E&O. I know because I am one of the early bird buyers. I paid for a very high floor and now for the price I paid you can get a mid floor unit. Same block and row of units. I think this area is good. I own I Santorini,brezza,quayside,marinox,jazz and tamarind. Basically so far i am happy with all my investments.

@ LOL

Are you trying to promote or just showing off ? As I say the rich don’t buy this Tsunami and muddy coastline.

@ Player

Keep up with your good work, Player, and make this forum a success.

No buyer at the recent roadshows.

Wow … You really went to the roadshows? If you really interested but miss the boat, please come and see me.

@ Desmond

Just to congratulate for not selling anything. Are you kidding, the boat is stranded in Tsunami Bay without an engine !!!!!!!!!!

Good job player for keeping this forum active

Still doing roadshows after 2 years of launching?

laura, yes for expensive units.

Expensive units for apartment ? In Tsunami and white ants location ? Landfills in muddy coastline ? Lot of units still available !!!!!!!!!

Player must be a very angry ex-E&O staff that got fired and now it is on the road for revenge. Haha.

@ Player’s daddy

Right here waiting. Yes, trying to block my comment all this while.

From Come to Player, we all know you are on revenge.

@ Ms Png

Where are you ? Busy “goreng pisang” in Paya Terubong ?

@Player

next week holidays coming soon. Are you going to on leave ?
Give lah yourself a break and give lah this project a break too.

@Jenny

With less than 10% left, E&O will sell it off in no time. No worry. This is a good project without a doubt.

With less than 10% left ? Are you saying because all people rushed to book The muddy Margarine that only left 10% ?

It will still be selling more than 20% after completion !!!!!!!!!!

Yes. It is less than 10% left.

Don’t bullshits. More than 70% left as unsold units !!!!!!!!!

Do you think you know better than me?

Identify yourself to prove your point.

I wonder how the sales for Mount Residence and Skyridge are going on so far? Each of these projects must have been sold by about 70% by now, I guess.

No idea. Player, any idea?

Vincent

You knew so much, why don’t you answer my question ? Another empty vessel make the most noise !!!!!!!

Needless to answer useless guy’s question.

@ Vincent

“Do you think you know better than me?”

Hi, empty vessel and balls-less.

@filterfren

I heard mont residence is really struggling. Many of the “pre-launch” buyers (meaning speculators who are close associates, relatives & friends) cancelled their purchase due to bad market sentiment & cash flow issues, resulting in VST having problems with their bank financing too.

@ rocky

Don’t try to change the subject. This blog is about the muddy and deserted Margarine at Tsunami Bay.

@rocky

I heard that too.

Their project isn’t that bad and understand close to 60% sold.I know of a friend who bought at 675K when first launch.Price have increased though sales are slow because of market sentiment.

Anyone know what level is Tamarind at now? Is the (underground) car park built above or below ground surface?

@Phang

yr friend bought high floor or lower floor with this price?

Those pretending to be buyers stop it at once, especially “filterfren” !!!!!!!!

@ Phang
As for you, don’t bullshits again. Less than 30% “SOLD”.

@ filterfren
Its on level 5 now if not mistaken.
@ M
He bought at pre-launch time where you need to issue a cheque in advance for 10k which is refundable.VST open up their sales in stages, first several floors and so on. My friend bought at lower floor and consider lucky as the next batch price have increased.

@Phang

Which Tower and which floor you bought in Tamarind?

@Phang
Does that mean it’s 4 levels of underground car park plus 1 level of residential units?

@ filterfren

A person from the “Dracula” developer trying to pretend to be a buyer.

Are you talking about yourself?

Practically many are working for this “Dracula” developer pretending to be buyers.

Simple judgements will tell you.

Skyridge Gardens soft launch opened today …. until 18 Sep. Anyone interested can head to thier office for booking a unit …..from RM 491 psf.

@ filterfren

For residential unit its on level 5 now viewing from afar. Progressing well. I thought Skyridge garden were launched quite sometime back! Probably offering some discounts. Due to market now flooding with over supply of properties, are we witnessing back like those days where developers giving free extras in form of air-cons, water heater etc…to close their sale. Time will tell as market is really slow.

Phang

So does that mean 4 levels of car park and 5 levels of residential units – so total 9 floors have been built so far? If that’s so, then its really progressing well, I would say.

Yes, Skyridge is offering freebies to try to close more sales.

@Player

How many floors completed now at The Tamarind?

market slow is good time to buy properties, this is the time you get to buy property with good offer from developer like low d/p..

Do not buy anything from E&O. The sales people alway talk nothing but bullshits !!!!!!!!!!!

@Bb

Be careful not to catch a falling knife.

Player, are you ex-E&O staff?

Player is making tamarind top of the chart again paid by E&O i guess.

@EO
Property market and share market are different lar. moreover the price of property here is getting higher but it’s nothing compared to over inflated market like HK.

Property market and share market are different lar. moreover the price of property here is getting higher due to blood sucking vampires.

@Player

Overall, the asking price for most properties have gone down by ~20%. Looking at our national income and oversupply situation, property price will continue to trend down for the next few years. Those who bought last year and a half have already lost money (many examples from The Peak, Latitude to Elit Heights and many many more). That’s the falling knife I guess.

If they had waited until now, easily they would have saved 100-200k of their (future) hard earned money. Even for Tamarind, an independent valuer has valued it 15% below the selling price, that explains the difficult sales for those units for which S&P has not been signed.

Beware the calm before a tsunami!

@EO
90% of this project has been sold with S&P signed and stamped.

To all the figure you presented, can you provide a statistics?

@June

Yes, 90% of Tamarind have been sold with S&P signed. It has been that “90%” for many months, and it’s a big challenge to sell the rest of 10% because if you look at overall market value currently, the price is about 15% overvalued. I was told out of that 90%, almost half are regretting because the price did not seem high when they signed the S&P, but looks very expensive now compared to overall market.

So regarding the “figure” I presented, which I suppose is :-

(1) “……..asking price for most properties have gone down by ~20%”
(2) “…….easily they would have saved 100-200k of their (future) hard earned money”

right?

I was informed only more than 20% sold. It’s in landfills area with white ants and Tsunami location.

EO, when to buy then?

Just wondering how do you value something 15% lower when there are no transactions done 15% lower or higher for that matter since u it’s available are only from E&O.i can understand for the peak, latitude etc because those are based on actual transactions but as for the Tamarind there is no such recorded history. So, I believe it is a bit early to jump the gun. 90% sales is considered number 1 in such market conditions. Other Developers are struggling with 20%-30%. That is the truth.

@EO
I agree with you. From those who bought Tamarind at 800k and higher, most of them are regretting. Purchases between 700k to 800k also considered high, some regret. Purchases below 700k considered a good buy for this location, irrespective of what it is facing.

@Cc
On the flip side, property purchases are a good investment, especially for the right location. When to buy, you ask? The answer is simple. Last year! In 2017, it would be 2016 the right time to buy. In 2018, it would be 2017 and so and so forth.

In this instance, E&O is an outright winner, as they priced their units at their asking price at a perfect moment, after doing their due diligence. This is the only intelligent developer among the whole lot.

@ filterfren
It seems to be overall 9 floors on board.Construction running smoothly.

@Royce
Agree with your statement.Officially launched last year and having achieved over 90% of sales in hand now despite such difficult times while others are struggling to sell.If I’m not wrong,towards end of 2013,property market are beginning to slow down though many are still unaware of.
Those who bought this project have the confidence its the right choice and rightly so.Nothing is certain but time will tell.Market should pick up in 2018.

All sales agents only bullshits. E&O is a “Dracula” developer and supported by agents as vampires.

@filterfren

I agree with you too. There’s always opportunities in property investment, but you just have to be selective instead of just rush in to buy. For those who paid 700k++ to 900k++ for this Tamarind, I think they have fallen for E&O’s “intelligent” trap. Even for those less than 700k, which are located on low floors and odd corners that come with noise and exhaust pollution, they are not a good buy at all based on today’s market.

@Royce

OK, it may sound odd to most when you do a valuation on a property that is not completed. But actually, our common understanding of property valuation in Msia is mostly wrong as the valuers simply take transacted values of properties in the same project as the valuation. According to a friend from overseas who is a professional valuer, that is a highly flawed method, only used by valuers who do not know valuation science.

According to the method in his country, the whole formulation includes neighbouring properties, supply+demand numbers, rental yields, location, min, max, median, size, transport, etc. Therefore, you do not have to wait for actual transacted value to do valuation. He made a comparison to stock valuation, whereby the analyst will normally come up with a “fair” valuation, and then recommend customers to sell or buy a certain stock based on the “actual” currently traded price.

As actual transacted price normally carries the element of emotion, greed, bad judgement etc, especially during a hot property market, a fair price valuation method would make one’s property investment more rational, objective, and most of all, aligned to fundamentals.

Thanks filterfren. Your analysis makes sense.

@EO
I can see where your friend is coming from but even the greatest analyst from Wall Street failed to predict the sub prime mortgage crisis back in 2008. However it was Dr.Michael Burry that predicted it based on actual data transacted at that time. Since data does show that there is a decline in the number of properties transacted in Penang we are heading towards stagnation and even maybe a decline but what surprises me is that they are still able to achieve a 90% sales for the Tamarind. Basically, that means they priced and packaged the Tamarind for the right market condition at that time. It would be possible if it went up or go down in price upon completion but that has yet to be proven until actual data is available. Whether the original buyers are regretting or not we do not know because these are all based on hear says and not actually feedback forms from them. I heard that most are buying for own stay and most are repeated buyers from Quayside and Andaman and Seri Tg a pinang house owners with solid cash flow. Then again, these are all hear says as well from my heart. So let’s wait 4 years to find out since 90% are already sold and other Developers are struggling with 20-30%.

What a bullshit from sale agent……Nothing to analyse but only sales people yearning for sales !!!!!!!!!

If anyone wants to buy, no doubt about it that some other places are preferred.

@Royce

Dr.Michael Burry predicted that precisely because he knew what is the fundamental value, and by looking at the actual transacted price, in which lots of greed and emotion were at play, he knew things will explode, just a matter of time.

You might have misunderstood me about the 15% over valuation. I did not mean that price will come down upon completion, but I simply meant at this point in time, you can find much better buys somewhere else.

No need to preach bible or write long love story !!!!!!!!! Very annoying and dull love story.

@EO
Do you mind sharing the better buys elsewhere?

EO and Player, just name the elsewhere projects name. Latitude? The Peak? Or Elit? Or ??

Nothing come close when comparing E&O Tamarind project in terms of competitive pricing, location and E&O reputation, quality & experienced. Track record speaks for itself.
Mah Sing is promoting extensively their Ferringhi 2 project at Batu Ferringhi for around 700k if not mistaken.Any taker?

Phang, I agree with you.

Nobody can come close to Dracula E & O in terms of sky high pricing and Tsunami location !!!!!!!!!!!

Only sales person agree and not the public.

@Phang
Ferringhi residence 2, I heard that they sold 70 out of 400 over units but all pending loan approval.

@ Phang @ Royce

Wow, for the same 700k, only 5 years ago, you could buy a 3 storey semi-detached landed house in Batu Ferringhi.

I don’t think 5 years back, maybe 7 years back. By 2011 prices of properties already went up by 50%-70%. By 2012 it peaked and prices were at 100% and it stagnated until now. Prices now are more stable.

@filterfren

Not true, I dont think you can buy a 3-storey semi-d for 700k 5 years ago. Anyway, with the bad traffic situation along batu feringghi road, it’s not practical to stay there. There’s a lot of sellers for Feringghi 1 at cost (some are even taking a loss after factor in finance cost).

@ gigi

The same thing will happen to The Margarine if anyone has listened to the misleading information by the sales personnel.
Will be selling at a lost.

@ Royce
Yes, new launches last year or even 2014 are finding difficulties selling them and Ferringhi 2 is no exception.Property market is really bad and I agree Tamarind with over 90% sold should be rank top of list.I can’t accept the fact that about half of this purchaser regretted buying it.As you explained,it make sense.Buying properties is a better option than keeping cash in banks where interest rates are so low.

@gigi

There is a sales transaction for 730k in Aug of 2011 for a large 3 storey 2900 sq.ft semi-detached house.

The selling price for Ferringhi 1 was high in the first place itself (not a good buy from pricepoint)

Once the paired road between Jln Lembah Permai to Teluk Bahang is completed, it would become one of the most liveable place to stay in Penang, especially for those landed houses which have a large liveable space. It may take 7 to 8 years though for the paired road to complete.

The only one access winding road able to link to Batu Ferringhi will be an issue for those new projects there. Definitely the price will appreciate if another alternate route is possible. The proposed paired road is a welcome sign for those living there but when will it materialize is another question.

@Player

Which tower and floor you bought in Tamarind?

The site now is progress fast and the road only party repair
Any news the hotel when will be operate and from which francis

@ Jacky
The project is moving at a snail’s pace.

@Rosy

Can you elaborate what you mean by ‘snail’s pace’?