Impiana Condo Price drop to myr 400psf, can Buy ?

Yesterday, a salesman informed me of the above.
This price is slightly below the launch price of myr 500 psf.

Is this a good time to buy such properties ?

I hear,

Teega, already many lelong sales at about myr 550 psf (lowest price)

Strange because the new-developer-launhed condos are still at myr 800 and above,..

How does one, read the market now & forcast for 2018, and beyond ?

 

Many flippers and small time investors, especially those without much resources, can't hold on any longer without tenants or offer for their units will be getting desperate.
As for developers, they can sell their units at any price but the crucial point is - are the units moving and how long can the developers hold on to the unsold stock.
2018 will be seeing more lelongs and such going on very regularly.

 

Impiana is damn close to the high tension power lines, especially those blocks that are at the back. I wouldn't buy or rent any unit there at any price!

 

Impiana has 488 units and according to Property Guru, there are 143 units available for sale and 205 units for rent.
So, the occupancy now should be less than 30%! And with the current situation, it'll probably be like this for a long time to come with even more units for resale if rental market remains weak.

 

Yes, the real statistics IS Frightening.

Unfortunately, the Developers and Many Investor-Owners seems to be in self-denials,..and coupled with many, many Poor-Quality Issues,..the rot grows more,...

For Ujana,
There seems to be some conspiracy between the stake-holders as,

1. Defects continues NOT to be fixed.

2. JMB,..and even MC seems to have plenty of selfish-hidden agendas to selectively fix problems, Bias enforcement and even the MA Staff can be allowed to rent units inside the Flats - and MA acts as Property-Placement Agents to The Investor-Owners,..

3. There remains massive loop-holes in the respective housing acts, with COB still lethargic to get involved,...

Till today, Ujana still has massive Quality, Rectifications problems,...

All these results in the slide of confidence, in the greater Iskandar Vision

IT IS Extremely Regrettable that the millions of $$$$ spent in developing the UEM Brand, and even the UEM-SunRise Brand,..is being spoilt by Extremely Poor Management.

 

I recall reading the launch price in phases was around $400-500 psf only. Propertyguru still has many units listed around $500-600 psf. Next door Medini has plenty of empty condos so prices are unlikely to appreciate in next 2-3 years here. I don't think HSR can save much since it might only be completed in another 10 years' time.

 

Another way to see it is you will have a more peaceful time and very few residents crowding the facilities. AirBnB seems to be quite hot here though.

 

Haha, that's very positive thinking but not workable in a residential estate tucked away in some far corner in JB.
As a resident, when you walk around within the condo especially in the evening, it'll be eerily quiet with little signs of life.
The AirBnB taking up rate don't seems to be good at all cos when I popped on a weekend during the recent schools holidays, it was still eerily quiet as usual.

 

I not sure which weekend you popped by and observed that Impiana is quiet as usual.

The fact that I seen during my recent few visit in past few months to Impiana is quite a number of cars parked at the car park during weekend, and the swimming pool side is also crowded with a number of people. This is quite different from 2 years ago where not many cars can be seen in the car park during weekend.
I think roughly the occupancy rate should be around 40% compare with 2 years ago of roughly 20%.
And from what I know there are quite a number of Singaporean owner in Impiana, and some of them just keep their units as weekend or holiday home instead of rent out. If you also counted that in, that could easily hit 50 - 60% occupancy rate.

Those sale/rent units advertisement in property guru should be overlapping with each other, where one unit could be advertised by few agents under sales and rent.

There could be few weak buyers which bought previously intend to flip the price now ended with no holding power. They intend to cash out the money hence go for lower sales.
And some advertisement of lower sales/rent may be a strategic used by the property agent to lure and open up a door for potential buyer/tenant to approach them.
Also, under current property market condition, agent will trying to pull down the price lower which easier for any transaction to go through. You will always hear from them that the other unit/condo/apartment with very nice renovation or furnished at some other places only sold / rented out at very low price etc. This is a psychology effect some agent trying to influence owner to lower down the price.