Property in Malaysia

I'm in shock early this year when I learnt that house price going up like mad. Doesn't matter where does the house project located, it just doesn't justify the price of material used. Even in remote areas are not spared. What really happened here in Malaysia?

I do accept during the time where the oil price shoot-up, raw material exhausted due to China mainland bought everything and where some future investors spred news that there are shortage of raw material in this world. It does make sense during that time. But that doesn't stay for long, only 3 months (give & take). Then the oil price on a free fall, so does raw materials, foods, etc. Everybody seems to agree whereby supply were more that demand. BUT, in term of house price, it's start make a race.

Giving you an example for a housing project behind our area. During first launch, a semi-D offered at RM168k. 3 months later they change the numbers to RM238k. Can you see the increment of RM70k overnight? I'm not sure how they justify the price increment. It's a madness. It's greed beyond imagination. Who the hell can afford to buy RM238k semi-D house in my hometown?

Me myself about to seek a bigger house. At a point where I believe I should go at least a semi-D with big compound. Thus last year I started make a search & survey. It's should cost me maximum of RM200k. ( Actually I can get it at RM170k for 40x80 semi-D with 5 minutes drive to the city) However this time I think I rather not to spend the money as I think now the house price in Malaysia is replicating house bubble in US. It's might need a time to burst but believe me, in 2-3 years time it WILL.

Have you see GLOMAC, SP SETIA, JLAND, UEM selling their housing project like there is no tomorrow? A lot of goodies been throw to you.. Free S&P, no interest till completed, LCD TV, etc? I guess only fools will buy that this time. Why?
1. The price doesn't justify. Inflated price.
2. There are too many unsold house at cheaper price. Even completed project. Just pay & move in. Why buy expensive house that still in artist illustration?
3. How much price RM/sq feet? Current acceptable price still within RM100/sq feet. Beyond that is pure greed developer
4. Value of house WILL fall in value IF the original price doesn't justify demand. See US as example.
5. Raw materials still available in Malaysia. Non required to be import. Thus, why expensive?

I would call all Malaysia to boikot this kind of greed developer. They only look for profit & flush their shareholders with big dividen. The biggest looser will be consumer. Use our right now. DO NOT buy house that no value for money. Force them to lower the price to pre-2008 price. Now is the time as now our money is the most valuable commidity to business entity

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