Read this carefully and you will realise who is helping to finance the fat profits of the developers and the banks.
While developers and banks post huge profits, households are groaning under the weight of debt from housing loans and personal credit card loans. Hey, that’s us. Second highest in Asia. Do we get a prize?
This excerpt from Reuters:
Malaysia, Singapore and Thailand all have debt-to-GDP ratios above 70 percent. Malaysia’s ratio stands at 86.8 percent, up from 60.4 percent in 2008, and the second highest in Asia after South Korea’s 91.1 percent.
More than half of the burgeoning household debt comes from housing loans, while personal and credit card loans account for 21 percent. It has helped drive a real-estate boom in parts of the country, with national house prices up 11.9 percent last year and Kuala Lumpur prices surging 30 percent in three years.
In contrast, the average monthly Malaysian household income rose about 7 percent annually from 2009-2012.
Only 7 per cent. No wonder we can barely keep up with rising food and housing prices.
Thanks to blog reader Don Anamalai for the link.
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Why need book early for a LC unit when you already have a roof over the head. Don’t be greedy to make a few buck on other without doing the actual work. Have a nice day.
The sad reality is that LC units are now becoming a commodity that people trade to make money. So the mandatory no sale for 10 years is a good move, but certain reader (property trader specialising in LC housing transaction) in this blog will not be happy.
LC cannot be booked or bought. LC can only be applied through the state housing and you must not have a house before you can apply. The worse part is the state govt is closing one eye on LMC and let the developer sell the house without going through the state housing list. The issue with the property trader is not LC houses as LC houses cannot bring in much profit. The real issue is the medium cost (MC) houses which are not and has never been subject to control. Even under the housing rules the state govt cannot control… Read more »
Yes henson a choice has to be made, time does not wait for us.
Penang has many temple, get involve and it will make you a better person in the charity work and modestness in life. Money is always not enough and to give donation is not easy. Have a nice day.
charity may not necessarily involve giving money.
a simple smile with kind deed can be a pleasant one to those in distress.
also spreading negative vibes to confuse readers to raise own ego is not kind deed.
concon: Money is always not enough and to give donation is not easy.
Very true. The initial chase after a good life inevitably becomes a social class chase after $$$$$$$$$-not-enough. When one’s bin-chui is at stake, the numbers have to be topped up. Eventually every sen counts, how then to donate 50 sens with a heart of charity? But then to sip Starry-Eyed-Bucks is sip-sip-sap-sap-sui.
tunglang, thank you. If everyone could practise good deeds there will be less
greed and less feel great people in Penang. What is the greatness of making a fast buck on someone (for this case trading houses) if the buyer is not happy? I have come across some developer in Penang that gives discount when the buyer is genuine (buy and stay)in the property. Penang will lead. Have a nice day.
Right on, concon. Buy & Stay. Not the buy in ‘bulk’, wait for desperate buyers & sell@top up kau kau. Penang homes should be filled with ‘Yang’ energy of happy people, not the ‘Yin’ energy of hungry ghosts in empty homes. And neighbourhood with genuine occupants of all strata of society will more likely to interact as humble, accessible neighbours rather than as kia-si-bin-chui-poh-poh snobbish (or i panda-pandai, lu bodoh). It will take a paradigm shift of lifestyle after a major falling on the knee economic + financial meltdown / collapse for people to realise that paper money is not… Read more »
concon
Bandar Carsia at Batu Kawan 800sqft at 72K & bigger ones reported ~RM220K per latest front page story of Buletin Mutiara. Not sure your children have applied before.
Although a 2nd bridge away, the 2 Stones (Batu) have different significance to Penangites. Tunglang said 35% binchui Penangiates prefer Batu Maung projects by Mah Sing while typical 65% go for affordable Batu Kawan project.
It’s matter of choice.
henson,
To tunglang, Mah Sing properties are way too surreal to be in tune with majority Penangites. I wouldn’t even want to think of giving a percentage to Mah Mah Sing.
The same for Batu Kawan. What percentage?
tunglang please use your ‘connection’ to book early a unit of the RM72.5K low medium cost flat to be built at Sandilands foreshore in Jalan C.Y. Choy. If you are successful, you can worship Cat deity for life!
After selliong my flat to the guy, I was happy. He has a roof over his small family. His salary just meet bank loan requirement. Now he is well off and he still keep the flat. Maybe waiting for a genuine buyer. Have a nice day in Penang.
con con, Cheers Kopi-O kau kau. Your good deeds beget good deeds.
To some as far as Sg. Petani, this seems an act of ridiculous in Cosmopolitan Penang Frenzied & Greed. B’cos they are too “pandai” to understand simple karma but are so drowned in the belief of cities for the rich only.
Oh Lord Messiah, forgive these “pandai” minions who don’t subscribe to your Words but hypocritically worship a new form of man-made idol.
A selfish CM who think only of his own policies for his own benefits. DIBS are normally applied to all which why Bank Negara did it right to stop the abuse by the state govt
If a MercS300Lansi can be negotiated & bought at great discounts with an accountant’s certified cost-savings rationale, why can’t the CAT do so for affordable housing? We are not asking the sky to rain only cats. Or is it swap-deals are nice to nego with TsingTao beers without cutting political-corporate marriage of convenience?
The merger of banks will mean less likely for lower income people to be able to secure bank loan?
That is why Ah Long can find a ‘niche’ to provide loan to hard pressed individuals.
1st. – The merger of bank will means that the poor get poorer. With only a few bank controlling the market, they can at their whim and fancy up charges here and there. stamps duties have been up so is transaction at ATM machines. The less you take out means you take out more times means more commission for the bank. Same as insurance. Your old car only worth 4k but you have to insure them for 12k coupled with 100% loading.
The DAP has called for the reinstatement of the Developer Interest-Bearing Scheme (DIBS) for eligible first-time buyers of properties valued below RM400,000. But BN said No.
http://www.themalaysianinsider.com/malaysia/article/dap-wants-housing-interest-scheme-reintroduced-putrajaya-says-no#sthash.H4aO9opa.dpuf
As the prices of properties in Malaysia went up 40% in 6 years, many listed companies like KSK Corp, Goodway and CME are now expanding their business portfolio to become property developers.
Anyway I believe many Chinese parents will still buy properties for their children despite high prices.
As such, I would like to dedicate this touching short video clip to tunglang and Yang, hopefully they could watch it with their children:
I wonder if you could ban a free market and become socialist instead. The more real issue is sustainable income and development. The housing price has ballooned not only in Penang but elsewhere, even in sleepy hollow as kuala kangsar. What has the federal done on sustainable planning? bring on more BR1M? Maybe we should vote truth bearers like Yang & Tunglang as CM.
tunglang has only 2-sens worth of opinion & no bing chui.
There are many ‘sensible’ aspirants to tick.
stteh, At least you know the real issue:
sustainable income and development.
The CAT gomen has not tackled it well. Perhaps, it should take a Sunday tuition class from Liow.
The Lesson – Liow: MCA will focus efforts on boosting income
http://www.thestar.com.my/News/Nation/2014/07/13/We-wont-let-the-rakyat-down-Liow-MCA-will-focus-efforts-on-boosting-income/
No hard feeling, CAT. Time to be humble to learn from others & not be 3-min. hard-up with arrogance like your Papa Sensible should be less cocky.
I always listen to my father-in-law.
No in-law no present beautiful & caring wife.
Father in law told me MCA is now good, so i better follow him now for i onced betrayed him going for 308 rally.
No i know what a fool i hav been !
JJ, not only are you a fool, you are so tau kuah relying on father-in-laws for present & who knows what more with an umbilical cord attached to mother-in-law weaved by your beloved wife!
Get on your own 2 feet, be a real man. Which side of the political divide you choose should not be tied to in-laws.
And, don’t be a character-recital parrot b’cos the CAT taught you & spared you your tau kuah life 🙂 🙂 🙂
Be more creative the next time & I will treat you jiu-hu + tau kuah + kangkong!!!
Ya, getting boring here everyday with 70k flat now selling 200k (because that guy cant abuse the system I wonder who is abusing the system. Its not just abusing, its cheating and misleading the people. And we have some who love a CM that mislead … the people. Just like the hudud we are also been misled. Only fools will continue to cahoot with the devil in disguise. To the CAT everybody is now singing this tune. You look like an angel, you walk like an angel but I `ve got wise, You my devil in disguise and the devil… Read more »
An yes the cat is becoming more arrogant and lang si but he will be no more next Ge. Just had cha koay teow and the friend told me. If the people want to invite the CM for their annual dinneror function it must be big otherwise he will not go. Now Tunglang this is what bing chui is for the CM or looking down at small things nowadays.
One more ‘Buah Pala’ & CAT Deity will attend without invitation with grand fare of dragon-motifed giant joss sticks lining the welcoming entrance.
Btw, hungry ghosts don’t get invitations to food fare lining on long red tables of Phor Tor plus China Dolls Kho Tai.
They come hungry naturally! And of course they, especially the Papa ghosts are sensibly & cocky attracted to red lanterns made in JB.
Miss out also : You talk like an angel
You look like an angel, you walk like an angel, YOU TALK LIKE AN ANGEL but I `ve got wise, You my devil in disguise and the devil in disguise. ……….. Still someone is acting like a real bodoh bodoh
RM70K flat was possible when KFC 3-piece meal cost RM5 in the 90s.
1st : You are out of touch. 50k flat was available when KFC 3 piece meal cost about RM8 somethibg
Tunglang and Yang would not be sore today if they have bought houses in Penang during the reign of Gerakan as he could cash in to profit today. Life is about timing and we should look forward instead of lamenting over past mistakes. Perhaps investing in SP today could turn up to be a right decision years later? Nobody knows.
Don’t be in the game of assuming. It shows in your ulterior intention.
Are you very sure I or Yang did not buy any house during Gerakan era of true affordable housing mapped out under a responsible Local Plan?
Anyway, investing in properties is a personal choice & financial capability. Not a rainy-green horned wildebeest’s panic button with credit cards for bookings. And don’t for goodness sake assume if others don’t follow the crowd but have other priorities in life. Timing is not everything if a choice is badly made.
Abang tunglang, do you know you sound exactly like a sore looser… Tell me which country is a paradise on earth with everything cheap cheap and good. Properties in nz and oz have also escalated. China’s properties are exorbitant too !!! Why there are so many japanese here? Because they said penang is a paradise for them. One interviewee even said he would die here, not going back to his bird’s cage in japan anymore. Ya, getting boring here everyday with 70k flat now selling 200k (because that guy cant abuse the system anymore), otherwise the poor soul tunglang ranting… Read more »
kee, Pray to The Lord Messiah more than pray to CAT Deity & refrain from emo-react-critical of others’ opinion, which btw is not an enacted law in anilnetto.com nor Parliament enforced on others. Know the difference between enforcement & opinion & you will do well to accept others as they are as we Malaysians accept diversity despite some die-hards for deities or tokongs. Anyway, I am not sore nor a poor soul when in fact, I can direct my life direction & adaptably live as I want without the bing chui shackles. Take Rapid bus or drive 4WD. Live in… Read more »
On Astro Awani, IOI Corp said: “No property bubble!”
http://www.youtube.com/watch?v=moqYPdeoWms
No bubble means price will continue to rise?
A friend waiting for the property price to come down in sg but it never came down, and now, it is beyond his means to buy anymore.
i didnt advise you to buy but merely relating a story, that’s all. Nobody knows what will happen tomorrow.
As for me, i shall trust the good Lord, for better for worse.
Note: live within our means is the best policy, no need to compare with others, just be ourselves.
no need to compare with others, just be ourselves.
But deep inside cannot accept other’s choice of Belum lifestyle. What a burning hell of a hypocrite.
tunglang & kee & yang & Anil can join me to take RapidPenag #101 to Telok Bahang to check out latest GlamCamp (Glamorous Camping) site. We can check if the fee is affordable. I can ta pau air-itam 2 sister curry mee, tunglang on budget just ta pau kopi o kau kau, kee n yang being in top 25% bracket may offer more while Anil can do a write-up on our outings.
afterall we are in Penang and there should be no hard felings (& i don’t mean red lantern hard-up! 🙂
What on earth is GlamCamp? 😉
Why the sudden withdrawal of CAT cockiness? .. I now see a CAT shenanigan at work here (despite being retired to RSPCA for good): I mentioned advertising – this cocky mention his medi advertising of 80s to prove himself. I mentioned Rapid Bus – this cocky also claimed to ride many Rapid so as not to be branded for life as thin-faced bing chui or no sense for Cleaner, Greener Penang. I loved ori-maestros – this cocky also ‘tham chiah kui-si-ke’ for ori-maestro street food. I suspected red lantern – this cocky announced his angelic sob-story of helping old folks.… Read more »
And also cannot accept the choice of others political affiliation
Yawwwnnnn……getting boring here. Nothing to feed the mind.
someone trades 4WD Cruizer for RapidPenang #302 and now learn to be humble towards Kancil cars …. what an awakening to feed your mind !
The worst you can ‘sensibly’ do is jumping to your own imagined conclusions. Rapid bus is my mode of transport when my children have to drive to school / tuition centres. Also getting used to public transport helping to reduce one more car on the road is no ridicule of lifestyle adaptation nor shame unlike Papa who I assume has sense of contribution to Cleaner, Greener Penang nor courage to take Rapid b’cos I assume he has a paper thin bing chui lest he is seen by his bingchui friends & foreigners on Rapid. Get real. One has to adapt… Read more »
Sensible Correction: unlike Papa who I assume has no sense of contribution to Cleaner, Greener Penang…
Papa Sensible saves every sen. Only drive own Kancil to send old folks to hospital. Normally ride Rapid Bus 201 to Air Itam for ori-maestro 2 sister curry mee. So if tunglang takes Rapid 302, switch at Komtar interchange and come join me for that curry mee before these aging ori-maestros retire for good. 🙂
Income rose by 7%? Ha! ha! ha! Even unionised staff are not getting this because unions are so weak and unofficial immigration goes on.
The best ways to profiteer are housing (building expensive units and raising interest rates while deflecting demand for low-cost units), transport (gutting bus services, setting up more tolls and selling more cars at higher prices), poisoning people to sell more medical services and “education.” All these rest on finance and the mad dogma of capitalism which will soon wipe out a large fraction of humanity.
Unfortunately, many ‘poor’ souls are flowing with the capitalist roadmaps to so called materialism of self fulfilment (see Maslow’s hierarchy of needs reflecting much of today’s pursuit of capitalist dream making). Can’t blame them cos the ‘blings-blings’ are too blinding to see thro’ without questioning whats on the other side. Poor souls dare not rock the establishments, much less take the alternative routes to self fulfilment without ending up as lifelong slaves to the system / status quo. Alternatives: No to covetousness (envy green eyes targeting on thy Joneses next acquisition). Downshift living. Live simplicity. Pay cash, not surreal credit… Read more »
10 years ago when I sell of mine flat at a discount of 5K from market value to a genuine buyer, I was branded a market spoiler by my neighbour. Reason is many of them try negotiate with me many time and I refuse to sell to them. I am a spoiler to them.
concon : now after selling your flat or apartment you may regret because the next door seller will tell you how much higher he has sold his.
What you have done – selling your flat to a genuine buyer – is not in the preferred mindset of you know who for affordable housing for the majority of genuine home buying Penangites.
No regretting for good karma is coming your way.
As for those in complicity of Cosmopolitan Penang Frenzies for Unaffordable Housing, no need to spell what level of karma is waiting around the corner to strike.
Houses prices is cheap or not depended on the situation and the govt. But when a govt lied and cheat that is very very bad. The previous Bn Gerakan built and sold houses of 25k and 50k unlike the CAT that boasted he built 72k houses but sell it at 200k. When govt sign off land prices at RM1,300 psf when it is only RM200 – 600 psf is it not cheating the people and raising land and properties prices. The CAT condemn the Chinese govt on the banning of the fast recently. He tell the Chinese govt to respect… Read more »
Dear abang tunglang Cakap kuat kuat about environment, pergi la duduk di pahang ke atau trengganu, di mana sky is so blue and you will have the virgin beaches, rumah pun murah. Talk only as if they love the green so much but without any proof of action. I bet these people in their leisure time they will lepak in the malls looking at the latest gadgets, etc etc. In this world you cant have the cake and eat it both at the same time. That only can be found on the other side of the beautiful shore, heaven la… Read more »
My proof of action are those revealing pictures taken of Botak hills at Paya Terubong & Coast-Mud-Politan Gurney & Madame Pykett. See them for yourself in anilnetto.com That’s my 2-cents worth of contribution to awareness of environment degradation in Penang unlike those who can only spew surreal imagined rubbish out of thin air from the comfort of their desktops & feel safe from a distance as far as Sg Petani. You tak tahu tunglang yang sebenar, jangan buat buat cucuk yang tak benar langsung. Macam perangai kucing kurap tak siuman. More environmental disaster pictures in Penang to come to anilnetto.com… Read more »
Some people they want the houses cheap so that they can buy and speculate but at the same time they scream that the pg govt must protect the poor, and the pg govt did just that.
Yes and the Pg govt did just that helping the people by selling 72k affordable houses for 200+k and the results you have buyers going to Komtar crying.
This 3-min video (already 13 million hits on youtube) will make tunglang develop more empathy towards Cats and Kittens:
Can you do much better than 1960s Eveready CAT stripteasing?
Political Deity CAT has no connection to lovely cats. Don’t try to tarnish others just b’cos your Deity CAT gets lambasted for the right reasons.
Hungry Ghost Month is just around the corner. Better get your supply of joss sticks (for praying to Deity CAT) @ Kimberley Street just in case MPPP decides that drying joss sticks is ban on roadsides.
Boring.
There are so many types of CATs. The leopard, tiger, cougar etc all belong to the CAT family. Tunglang is referring to one that is even worse.
Tunglang as a baby boomer grew up watching Felix the Cat?
Who is making the developers and bankers rich?
Another diversion from the 1st botak hill
Another ‘botak hill’ in the making?
http://www.freemalaysiatoday.com/category/nation/2014/07/08/another-botak-hill-in-the-making/
Who is helping to finance the fat profits of the developers and the banks. . Who wrote this article. Is he trying to pin the blame onto the household & consumers. See how it has come to this situation. First and foremost house prices were very cheap prior to 308. In fact house prices during the period of 2000 – 2008 were very much cheaper . Take for an example in the 1990s, a 2 room flat of 600 sq ft were sold at about RM60k – 80k. From 2000 to 2007 you could buy a 700 – 900 sq… Read more »
Yang, you are no further from the ugly truth which some vehemently denied under hallucination of joss sticks. The truths shall prevail, no matter what. Despite the broad daylight raping & tearing off of ‘virgin’s green sarongs’ (trees & top soil) by greed-madden developers, there are still some who think it’s AOK without a sense of remorse on their part. Wait till the same crimes against the laws of nature happen in their own backyard, esp. Sg Petani. Talking about low cost housing, last year my sister finally got her real cheap 40K low cost home in Relau approved under… Read more »
We have seen the hypocrisy of the DAP CAT govt. The proof is here from its very own member and leader
Norman Fernandez quits DAP, warns of hypocrisy & ‘continued alliance with PAS’
Full article:
http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=317221:norman-fernandez-quits-dap-warns-of-hypocrisy–continued-alliance-with-pas&Itemid=2#ixzz36rVJkPZd
Penangites who have not stayed in Johor may not know that Norman Fernandez has always been a pain in DAP Johor. He has a very narrow agenda and (allegedly) has been unhappy that Dun Stulang is now handled by YB Andrew Chen who has done a marvellous job. During the 7th Meeting of DAP State Committee (2013-2015) which was held on 5th July 2014 in Johor Bahru, the Committee voted on a motion to refer Sdr. Norman Fernandez to the DAP Disciplinary Committee. During the meeting, 18 out of 20 DAP State Committee members voted for the motion, while two… Read more »
It will always be a pain for DAP or PKR or PAS if you tried to voice out the truth. They will always tried to shut you up. If DAP LGE comment of BN without democracy, the same go to the father and son. I really pity the late Tham who have done so much checking out the road and drain and attending to complaints but in the end he was rejected despite so many years of loyalty to DAP.
I think some reader is right to point out that our dear bro tunglung never steps out of penang…
All his viewpoints and arguments revolve around penang and its government.
This is a world phenomenon not only happens in penang la for goodness’ sake.
Maybe we should all pray for God to end the world soon, so that we will have peace and more peace…
Note: Georgetown, pg ranked as among top in Asia. Thks to pg govt !!!
dah berapa kali tunglang pergi 4roda ke Kupang, Kedah, Gua Musang, Kelantan dan Sg. Rui, Perak hingga ke Cameron Highland. You buat bising yg bukan-bukan apa lagi?
Dia pasal lah kalau mau tetap duduk di Pulau Pinang atau hijrah ke Belum Hutan.
Lu bukan kaki 4roda, jangan bermasa lapang bercucuk orang pasal.
Berani kah kau pergi ke Hutan Jeli tengah-tengah malam dengan tunglang?
Cheers Kopi-O kau kau 4RodaKakiMalaya.
Orang SP tak masuk hutan langsung, mana berani langkah sarang Maybank (Panthera tigris).
Tak dihisap darah oleh lintah, ‘kiasu’ mati derma darah di GH.
Hanya makan hidangan mak-oi-emak rumah, mana boleh tahan mati makan daun kentang.
Begitu lah realiti orang kosmo, kesiannya bila ditinpa bencana alam nanti.
Malaysia Debt-to-GDP ratios at 86.8 percent does not spell well for domestic property market.
Now I am very sure property bubbles are going to burst very soon.
You all can go bargain hunting without agents aid (bypass them) to buy affordable homes for you, sons, daughters etc.
Bank Negara will likely to announce interest rate hike this Thursday. Those taking bank loan to finance their purchase will soon have higher financial burden. But this is good news for retirees who will get mote passive income from their savings.
Even if Bank Negara hike a little of interest rate, those who buy houses previously should be happy as they bought cheap houses. If they buy now not only is the houses expensive they have to pay higher interest rate. It will be double blow
Estate agents are also winners. if foreigners are buying, why Malaysians are church mice poor? Mca and gerakan federal did not improve Malaysian income. In past, we send money to China, now they semd to us.
That is the dog better than CAT by bn to raise interest rate. Estate agents happy all the way.
cwf : You are just plain ignorant. After 55 years Malaysia has one of the highest GDP in the world from RM299 in 1960 to RM16.548 in 2013 placing 35 out of 194 countries
Yang
You should also mention that Malaysia also ranked high as a centre of Nigerian internet scam and human trafficking, Another KPI of BN?
OWC 12 July 2014 at 12.53pm.
By diverting your comment to the Nigerian, so it means that you are not denying that our country has achieved one of the highest GDP in the world. Nigerian scam is another, GDP is another and when we had a high GDP only then will the Nigerian scam come over here just as they operate throughout the world richest country including Singapore and the West. Don`t use this issue to cover up the incompetency , lies and deceit of the CAT
35 GDP, and you still expect 70k house. You very Cheapskate.We should compete with singaporeans and chinese.
Now you know why Najib has not, to date, built the one million affordable houses that he promised to do so before the last GE about 14 months ago. Most of the developers and the banks are either (connected) or the Umno schmucks and hence he will not build the one million affordable houses because they will surely have an impact on their huge profits !
LGE makes penangnites difficult to buy a decent house , its beyond us , oenangnites , many of us actually , just cudnt afford ,now after he became the govt n , , chief minister . Before ge becaje the CM , we can afford a simple double storey terrace house build by the PDC,or even private developers . Now after he wins , penangnites cudnt affird anymore . i undstand he impose high developrment fees, for approvals, n ,by results developers must add-on to their selling prices . why is lge doing all these ? I know , but… Read more »
Dear ken,
This is not only happens in pg but kl and johore as well.
A friend of my sis bought an apartment 1,200 sf ft for RM1.2m in iskandar johore !!!
A friend bought 500 sqft apartment in sg for RM2m. My cousin’s daughter 600 plus sq ft apt is now fetching $$$$, please google.
To blame lim guan eng for the escalating of prices in properties in pg is really shallow…
I remember you did say that Penang home are very cheap under the CAT. It seem now you have double turn 180
Yang, forgive SG Petani kee. In Cosmopolitan Penang with many one-way streets, you will not find that many U-turn junction convenience for the average boh bing chui Penangites who have no choice but go straight on to the truth. But in Sg Petani, the roads are less congested & one can simply U-turn at one’s moment of fancies, lorries coming or not. And if some SP folks have been ordained CAT’s 9 lives, can U-turn more often in kopitiam discourse as easy as plucking mangosteens out of thin air. Now you know why MH370 & mangosteen are synonymous with a… Read more »
Reapfield Tel 04-288 1888 may be able to solve your 70k-200K dilemma.
Give them a call no harm trying.
A new outskirt condomimium in Johor Bahru now starts at RM600 psf.
If you want a unit near the city centre, it will set you back RM800 psf.
Prices of properties are high in major cities in Malaysia, not just Penang.
Property agents and sellers are now advising buyers that you should not look at prices of the past when considering your new purchase.
Tun Mahathir has warned that the rapid development in Johor Baru, geared for the upper class, could see the bastion of Malay nationalism slip away from Malay hands.
http://www.malaysiakini.com/news/268079
Would Tun M dare to (raise this matter with) the Johor Sultan on this matter?
Remember the Johor Sultan sold RM4.3 worth of Johor land to China developers to build expensive home that the majority of Malays could not afford to buy?
Mahathir was obviously not happy that Singaporeans (including billionaire Peter Lim) are slowing chipping Johor land away in Iskandar. But most importantly, this business model of foreigners (latest being the China developers) dealing directly with Johor Sultan will upset UMNO’s coffer in long term. Developers prefer dealing with Sultan Johor directly – instead of going through UMNO Multi-Level … who (allegedly) ask for never-ending “commissions”.
Nobody who dare to criticize royal families, with the exception of Mahathir Mohamad….
Pay tax to umno federal government, no problem. Buy cars with high taxes, accept it. But to pay tax in development charges to state government is a big issue when they ate properly accounted as compare to leakages and wastages in umno federal government spending.