22 May '14, 1pm

#Malaysia #investor clubs blamed for distorting property prices #iproperty #propertyguru #kualalumpur

#Malaysia #investor clubs blamed for distorting property prices #iproperty #propertyguru #kualalumpur

Property investor clubs in Malaysia typically approach property developers and offer to buy units in bulk in return for a group discount. The problem arises when developers then mark up prices to cover these discounts given. -- PHOTO: REUTERS MR JERRY Tan, a used car business owner, has spent RM20,000 (S$7,700) in the past four years to attend various property investor clubs' talks in Kuala Lumpur . His reward? He managed to buy two condominiums in 2011 and 2012 on nearly 15 per cent discounts which promised to bring good resale value. But he has found that the rents for his properties are barely enough to cover his mortgages while their values have been stagnant. "It's a big risk even with big discounts in the clubs," says the 47-year-old. But many are willing to take these risks, he says. At least seven property investor clubs have sprung up in Malaysia over the past fiv...

Full article: http://www.stproperty.sg/articles-property/overseas-prope...

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