Lowyat.NET: Latest topics by moonh

BTS expected to be mandatory by 2015

moonh — Thu, 10 Feb 2011 11:31:28 +0800

BTS expected to be mandatory by 2015
By: Natalie Heng (Wed, 09 Feb 2011)

PETALING JAYA (Feb 9, 2011): The Build-Then-Sell (BTS) 10:90 mode of house ownership is expected to be made mandatory by 2015.

It is learnt the drafting of the amendments to the Housing Developers Act will include a clause calling for the gradual implementation of the BTS system. This is the second bid at getting developers to commit to a system seen to have the consumer at heart but not necessarily business-friendly.

In 2006, the then deputy prime minister Datuk Seri Najib Abdul Razak introduced BTS as a trial run alongside the Sell-Then-Build (STB) model.

After being implemented formally on a voluntary basis in 2007, there was a low take-up by developers despite a host of incentives to make it more attractive to them.

Over the years, developers have faithfully stuck to the STB.

However, this model, which is also known as the progressive payments model, has often been blamed for the troubles experienced by buyers of abandoned housing projects.

"The government wants to put an end to the perennial problems of abandoned projects and feels this is one way of doing it. It is going to be tough as there will be a lot of resistance from the developers," said a source.

The source said that to "placate" developers, the implementation of BTS, though mandatory, will be gradual where it will be introduced in stages starting with the 10:90 model.

"It starts at 10:90 where the housebuyer pays 10% upfront and the rest after delivery, and will eventually go down to 0%: 100%," the source said.

This latest news is seen as another blow to developers, following revelations that the government will increase the minimum deposit for obtaining a housing developer’s licence from RM200,000 currently, which was front-paged in theSun on Tuesday.

Vue Residence, Jalan Pahang

moonh — Tue, 07 Sep 2010 13:32:33 +0800

Vue Residence Jalan Pahang, from <RM380k for 500sqt studio. Will be launched in the near future. It’s freehold, just opposite GH near Bulatan Pahang. dunno whether studio still available or not. They have other sizes as well, 700+, 900+ & 1000+ sqft I think.

Can’t wait for the launch. Still believe ppl will just buy even though it’s seriously overpriced for this area, IMO.

http://www.prinsiptek.com/index.php?page=vue_ftr
http://www.skyscrapercity.com/showthread.php?p=61579419

Seri Puteri condo

moonh — Tue, 29 Jun 2010 18:03:36 +0800

Anybody knows about Seri Puteri condo?
It’s a new leasehold project from Amber Resources Sdn Bhd. It has about 200+ units and priced from about RM200k. sorry, dun have info on the sizes available. I called them, they said it’s near Cheras LRT. Looks reasonably priced imo.

Dunno when to launch.

Tel: 0391715133

Puncak Saujana Kajang

moonh — Fri, 10 Jul 2009 10:43:07 +0800

Hi,
I'm a newbie in property investment, any opinions on this will be very2 much appreciated.

I'm considering buying a 2.5-storey terrace hse 20x80 1800++sqf in Puncak Saujana, Kajang for investment (flipping). Puncak Saujana is around 1-2km away from Saujana Impian, got Giant there, 20mnts drive to Putrajaya during peak hrs, toll RM1. Expected completion date is in Dec 2010. Total = 50 units, priced now at RM330k (intermediate). It's freehold. Developer is financially stable, as they are under MOF.
http://www.iproperty.com.my/property/devel...?pid=1459&tab=1

They have launched 2 housing projects in this area last year, 20x70 & 20x80 2-storey terrace houses priced at min RM250k, which will be completed by June 2010. Total house = 230+ units. Can i assume this, once these projects are completed their prices will jump to near RM300k mark, and hence push my 2.5 storey house further up. Or can it be oversupplied?
Historically, 20x70 2-storey house launched in 2007 and completed in May 2009 at RM180k has shot up to RM250k now. Rental for this type of house is RM850 p/mth.
They are also selling Semi-Ds, priced at min RM600k (limited units).

With no downpayment, can get 100% loan, RM1k booking fee (refundable after loan approved), BLR-1.75% (makes it around RM1500 p/m), free stamp duty for transfer, s&p and legal fee, pay nothing until completion.. attractive, isn't it?

Most ppl here are bumis and buy for own stay, should have little competition to sell right? For flipping, is it a good investment? Can i expect to get 20-30% increase upon vp in end 2010 or early 2011?

Your advice is very much appreciated, thanks.