Malaysia Money Matters

A new condo launch in Melawati by Sime Darby, I didn't know about it but just so happened to drive by the showroom as it was being constructed; then my mum told me that the launch event was on Saturday the 24th. Didn't have time to go on the 1st day but managed to make it today, the 26th. First impression is that the development seems pretty decent.  An overview from the brochure: Here is the location within Melawati: hehe my scanner truncated it somewhat, the dark green area next to the planned 30 storey apartment is going to be the new Melawati Ma ll (a Capital Mall project). And here are the build-up specifications: Other main information points not in the images above are: Freehold Price per square foot from RM600 to about RM750 for the larger units Maintenance cost is 30 sen per square foot Looks like about 70%-80% booked up by the time I got there around midday today - after just 1 full day + 1 morning of sales. Construction ...

There is some word, unpublicised as far as I know, that Bank Negara is looking seriously into the valuation practices of local banks. Mainly the way in which loan sales offices shop around valuers to get the valuation for the loan because it could be one of the factors driving up property prices. Well, in a way, yes it is a contributing factor but the margin of difference at which they are valuing is not really that large - based on observation, it is a fluctuation of about 5% to 7% in "hot areas" but true enough also that in low transacted areas, they can undervalue as much as 25% of the asking price. Which begs the question of is the market pricing too high or are valuers judging at too low / judging too high in hot areas in order to get the deal to do the final valuation report? After all, if they keep giving low verbal valuations, they will not get the business. If they give high values all the time, then it is an advantage to the seller and doesn't take into ...

Update: 27 August - got the invitation card to the official opening: 6th and 7th September at the site Jln 26/26 Seksyen 10, Wangsa Maju Per the card - 3 rooms at 770 sq ft and 3+1 room at 850 sq ft Price starting from RM374,490 (Bumi price naturally :p ) Updated - go to Part 2 here The developer of the Damaisari semi-Ds and shoplots of Dataran Wangsa have put up a billboard advertising a condo called Seasons Garden, also in Wangsa Maju. Scant details - only a website inviting registration. Trawling through the chatter on Lowyatt, there is some mention of an indicative price of RM500 per square foot. Maybe based on the theme of this developer of doing fairly high end properties in Wangsa Maju - well, technically Wangsa Melawati. So where is it going to be? I have 2 guesses on a likely site: The corner of Jln Wangsa Perdana 1 and Jln Wangsa (a.k.a Jln 6/27A) - this used to be an oxidation pond but has been filled in some years ago. The funny thing is that there used...