The Spring

The Spring condominium located along the Jelutong Expressway that gives a panoramic view of the Penang Bridge. The concept of the project is modern contemporary and emphasizing on its Tropical Garden features.

The Spring Condominium comprises 396 condominium units in total. The built up area ranging from 925 to 1,281 sq.ft.

Property Project : The Spring Condominium
Location : Georgetown, Penang
Property Type : Condominium
Tenure : Leasehold
Total Units : 396
Built-up Area : approx. 925 - 1,281 sq.ft.
Developer : IJM Properties Sdn Bhd

2,397 comments«Oldest ‹Older 201 – 400 of 2397 Newer› Newest»

April 27, 2008 at 11:06 PMAnonymous: I'm interest on this condo. But, I don;t agree IJM use this kind of way (priority to bulk buyers) to sell the units. IJM do not think about medium level ppl. May be this is the way for IJM to 'make' The Spring more looks like "second gurney" which only "rich ppl" will stay in this area.

Within 10 more years, their new project " The Light" will be completed. Thus, I am guessing, they wanna make The Spring to become more elegant places.

I really wish to get my own house and currently The Spring is the suitable budget for me. But sadly, the way IJM sell the condo really disappointed.

To IJM, WHY DONT YOU SELL THE CONDO IN BETTER WAY?
April 27, 2008 at 11:21 PMAnonymous: for Birch regency, the last time I enquire, the price is only RM270K.
April 27, 2008 at 11:27 PMAnonymous: wah...interesting all units grabbed by developer's associates. 120 units all in all.

I have a suggestion here, let us all boycott the Spring and let recession slowly kills off those property speculators. Paying 10% is small sum. Let them get their bank to finance and let them pay interest through their trousers ..ha.ha.ha..

If we all boycott, I believe very soon IJM will be telling us that those speculators can't get their banker to finance their purchase and will offer those units to genuine buyers.
April 28, 2008 at 12:32 PMAnonymous: Dear all,

Firstly, for you confused and ignorant bloggers out there, i am NOT promoting spring. I am just telling the reality that is happening because i attended the bulk launching with a friend and its really DIFFERENT than all the small talk that has been going on in this blog since January! In the first place, i dun think most of you even KNEW there was a bulk buyer session right? As a rational blogger, i rather have someone spilling me the RIGHT facts on things that ARE happening rather than simply commenting blurly on things that you think WILL happen.

Reiterating again, I am not promoting, but rather highlighting the existing situation. If you do not believe, feel free to attend the launch next week and see how many units have been taken up. And yes, I DO know the difference between bulk buyers and speculators, but who gives some of you the right to judge them? Just because they are much richer than you and you get pissed? Come on! Simple rule of economics! I think what we are interested to know is how many units have been taken up already before the soft launch! Comprendo? By all means, call up to check! Hey! I could be wrong... : )

And for those YET again, confused bloggers who cant differentiate between criticizing and replying to an opinion, my points on Ixora and Oasis were replying to the past posts dated Feb 27th and March 3rd 2008 which highlighted the good points for these 2 projects, which i have a different opinion obviously. After all, this is main point of this blog, rite? To share opinions? As such, its good to read up all the other blogs before accusing newcomers for criticizing.

On a personal note, I am also very amused by Spring_Condo and the anonymous sender before it, who feels that anyone who posts a different opinion is regarded as a staff of IJM! I really hope you guys are not from Penang because we definitely don't need people of such defective reasoning abilities to call themselves Penang Kia. And for your information, its spelled "staff" not stuff... get a spell-checker!
April 28, 2008 at 1:42 PMAnonymous: I believe this anonymous is speculators of The Spring although he might not be the staff of IJM, I personal review through Spring_Condo comment, he just ask our penang people to use our own "vote" or "money" wisely through the review of the blogs, not much than that. I also get the invited from IJM and no need to wait unitll three weeks. I believe we penang kia is knowledgeable.

Let us boycott the Spring so that this anonymous speculators can't sell his unit and get stuck his money on "The Spring".
April 28, 2008 at 8:53 PMAnonymous: hi anonymous no need to write so much la coz those confuse bloggers will sure say u r either speculator or ijm stff if you support the spring. i am just wondering why those who r against the spring project have so much time to sit down and give so much bad comments? maybe they are trying to scare ppl off so dey can buy ha ha! cheerz..
April 28, 2008 at 8:56 PMAnonymous: helo can someone confirm there is no legal fee for spring? thanks.
April 28, 2008 at 9:42 PMAnonymous: If you can't get any units from the developer...you can get it from the bulk buyer who is very keen to sell at a premium of course! Get any IJM staff to help...asap..he.he.he..

btw the bulk buyer have taken 30% of all the best units facing away from the rubbish dump..good luck all interested buyer. I think it is IJM's marketing gimmick to kill two birds with one stone.

Firstly, get friendly party to buy all the good units (hmm..coincidently 30% of the project units)and create an artificial rush for the other undesired units. Buyers are just force to accept whatever available. And at the same time, the friendly party can make a killing for those really desperate to pay for premium.

Hats off to the marketing people in IJM! really good idea.

But for those still hopeful, do go to the soft launch maybe you could get lucky..who knows?
The Spring and the expected sub-sale from the bulk buyer is to come to approximately RM290 per square foot. Way too high for any leasehold properties.
April 28, 2008 at 9:53 PMAnonymous: Legal fee on Sales and Purchase agreement is only RM300-00. I don't know whether IJM is absorbing that cost since there is such a good response to the project.
April 28, 2008 at 9:55 PMAnonymous: My friend who is working for the Inland Revenue Dept is very interested in the financial background of the bulk buyers.

120 units ''hmm..approximately 40 millionaires purchased three units and a above to make more monies.
April 28, 2008 at 10:20 PMAnonymous: The adjacent projects i.e. Oceanview is selling at RM180k to RM190K per unit. The larger unit of 1200 square feet is selling at approx RM240 per square foot.

Compared to Spring, buyer of Spring will be paying approximately RM60,000 if buy from IJM and approx. RM90,000 if by from sub-sale from bulk buyer.

Cheerio.
April 29, 2008 at 4:44 PMAnonymous: I have been waiting for the Spring to launch for 1 1/2 years. I didn't even want to consider other developers during that time. However, after today when I went to the IJM sales office; I felt very sad with the IJM on the selling strategic. IJM build house for the investor and not for those who really needs to buy a house. They had actually sold out almost 80% of the total units. I believe it was bought up by investor or spectacular. Those units that leave behind for this coming Sat was not a good view units and those who buy it blindly will regret later.
April 29, 2008 at 5:25 PMAnonymous: I'll never buy any IJM properies in my life from now onwards.

This is all IJM fault. B'cos of the marketing strategy we people have to pay higher price for a stink project...

Why we should buy from the investor and the speculator for higher price???

Paying more for no reason. Please guys, IJM is looking down on us and they don't need the buyer like us to buy their units. They only sell to speculators and investor for good units but not us... we can't get any good units unless you pay more for a sub-sale.

What is this? Bravo IJM...
April 29, 2008 at 5:31 PMAnonymous: i want to purchase a unit face ferry jetty, type A, anyone know is it stil available?
April 29, 2008 at 6:39 PMAnonymous: Looking at this, those who afford to buy more expensive condo, suggested to move your attention to other projects. Leave the limited remain units for those who only have the budget for The Spring.
Besides, hope none of you will buy from the sub-sale. They try to create another Bayswater. This is no value for money and only sucking the money from poor to rich.
For those finally success to get a unit for stay, you may found that the condo will be 80% empty for probably another 6 months to 1 year after OC obtained, because the speculators will wait for better price to sell the units on hand.
April 29, 2008 at 7:09 PMAnonymous: Type A, Type B, Type C, Type D all sold out to speculators.

Left only Type G cause it is near car park. Noisy
April 29, 2008 at 7:10 PMAnonymous: yeah man. i think this weekend will be crazy at the launch. i heard oasis has problems (refer to oasis blog) as recent as yesterday. land and squatters problem. if oasis kaput, then spring will become frying pan again...fry the price high high, ha ha
April 29, 2008 at 10:00 PMAnonymous: what?! all sold out i tot the soft launch dis weekend? shit... price must have increased pula ler..celaka!
April 29, 2008 at 10:45 PMAnonymous: I have been reading the comments stated since last week. All the comments are kind of funny.
1 About leasehold v freehold pty, do you live over 99 years old. Guess most of you here are at least 25 yrs old and above. I doubt so that anyone of us here will be able to know what happen to the leasehold after 99 yrs....hahaha. It's only your next generation and I doubt they will be staying in the Spring by then.
By the way, do you know? Some countries pty are leasehold and in fact, the resale value of leasehold pty is better than freehold.
On top of it, Freehold doesn't mean that it belongs to you. At any point in time, if the authority requires the land, you need to return it. Freehold doesn't mean the land is yours. Hello? Wake up guys!!

2 There may be a sewage treatment and dumpsite nearby, do you think the government will not relocate it in future? There's going to be big development project along the Jelutong Expressway meant for high-end project, so do still think they want to keep the sewage and dumpsite as icon? Understand no news of relocation at the moement however hope it will be relocated so the sewage and dumpsite will not be an icon of the state of Penang as Pearl of Orient without dumpster in the city centre. Infrastructure of the state is very important to encourage foreigner to invest especially as their second home/investment purpose. If they are not happy, investor will take the money out from Penang / even Malaysia to invest in Vietnam/ Thailand etc/

I was in a dilemma after reading all the comments and do my own thinking. I feel that whatever you do there's always a risk. It depends on whether you are willing to take it. If you are not willing to take it, then leave it.....it's the same as in marriage, in relationship, buy share, put money in the bank, your job. There's always a risk in whatever you do. Therefore, think twice, do your own research first before you invest and make sure that you will be able to afford it. Otherwise leasehold or freehold, it will not belong to you, it belongs to the bank.

I have a phobia of buying pty in malaysia as the project may be stalled - which happens no frequent but often heard of. I think the government should do something to protect the home owner especially for the poor / first time buyer - some coverage in the event developer run away. I only trust selected developers based on their company reports and profiles.

There's always an unanticipated even, therefore no one to blame but yourself. Think before you thread.

I'm just sharing my view, not a developer.
April 30, 2008 at 2:28 AMAnonymous: Hai anonymous

Please visit http://www.kwongwah.com.my/news/2008/01/03/124.html, the dump site just complete recently with RM500million, do you think the government want to remove the dump site by spending another 500 million because of IJM?
For the rubbish threatment, now sems more worse, please visit http://mykampung.sinchew.com.my/node/21311?tid=4, since gerakan lose already, the rubbish recycle factory might not establish, then please visit those area around 8-10p.m, actually u can feel the suffer and rubbish burning smell eventhough I'm closing my car window.
This is for info as initially I also plan for The Spring, however I look through the blog, I personally travel along the highway and know that this is true.
April 30, 2008 at 12:19 PMAnonymous: lease hold vs free hold..... we will not leave untill 99 years old, but we do want to pass the property down to our children.
1. Those property after 99 years, you need to apply the title again. When you do this, you need money.
2. If we sell the property, the new buyer will consider how many years left. 80 years still ok but if only left 30 years, people do not want to take the trouble.
3. Most likely you able to renew the title for another 99 years, but we cannot deny that goverment will need to re-inspect or re-consider the developement plan during that time, which still have probably < 10% chance that title not renewed.
4. When you sell the property, freehold title will have faster processing time compared to leasehold. This is because less involvement from goverment for freehold transaction. May check with your lawyer.
5. Like it or not, more than 50% of us prefer freehold. So, if I have a freehold property, my selling market is 100%. If leasehold, only > 50% of the market who can accept it.

So, freehold or not.... do matter.
April 30, 2008 at 10:14 PMAnonymous: Hi Mr. Phobia to buy prop in M'sia,

I think you will need to buy Spring as it is completed and from reputable developer.

If there's not much choices left, you can always opt to pay a bit more premium that is if you are not one of the bulk buyer..he.he.he..

Alternatively, since you believed such more that the government is going to relocate the sewerage plant any sooner after investing millions in it...keep believing ok!!!

Also if you love the smells of burning rubbish, please choose the units facing the dump site (fyi the wind direction is always blowing across from the dump site). In fact, the original plan of the Spring has wind chime on the side facing the dump site...why??? Is it for feng shui purposes?

Anyway, I doubt that you will be buying the Spring as your residence. You are too wise for that aren't you.

Therefore, pls do not misled all the other buyers. You may be blind to the facts here but no others ok?

Further, please get your facts right Mr. Wise guy on the government acquiring your freehold properties. Although, it is provided in the act, it is not easily done especially to such a high rise condo.

In fact, if you love leasehold so much, may I suggest that you go and buy up all the leasehold properties near its expiry lease and see whether you will still make it rich?

Ha.ha. dare to prove me wrong? I don't think so. More like talk big without LP( lamp pah).

Till then, done hope that I will buy from you bulk investor. I hope all the bulk buyers will burn in hell...arrrghhh
April 30, 2008 at 10:16 PMAnonymous: Hi there,

I have been listening to all your blogs here and I agreed that IJM's sales tactic is unethical for such a reputable company.

Do you think anyone should lodge a complain to the consumer protection group and also to the Housing Ministry?
April 30, 2008 at 10:58 PMAnonymous: We love to trust IJM. Alas..IJM fails us house buyers for their own benefits. I believe the bulk buyers are all friendly parties. Ijm hs even cheated their own shareholders.

Where are the social conscience of the so called reputable developer? Reputable my foot to quote Stephen Chow..

This strategy is a third class mentality. Loose moral..pariahs of the pariahs.

There is karma. I do hope IJM will get what it have shown. Evil beget evil.

Lousy IJM and lousy Krishnan Tan, lously Teh Kean Ming.
May 1, 2008 at 4:36 AMAnonymous: Just wondering... have the developer take into precaution about the black smelly river just beside SPRING ?.

I am really afraid that the river might affect SPRING's construction. More over SPRING is built on reclaim land. Have the land settled enough ?

If the same fate happens to SPRING like Highland Towers, who is responsible ?. The developer ?.
May 2, 2008 at 7:18 PMAnonymous: It has been interesting blogging here. The D-day is tomorrow (Sat 10am-6pm) for the soft launching of the Spring. Do go to E&O amidst all the positive and negative remarks on the project.

To all interesting buyers do go to the soft launch early and Good luck.

signing off- cheerio
May 2, 2008 at 7:49 PMAnonymous: Hi, as of today The Spring is 65-70% sold out. I just visited IJM sales office and they have not yet gone through the official soft launch which is tomorrow.

Also price have been increased 10k for each unit for all types. Please go early if you want to buy (8-9 am)I myself will be gonig so hope to meet some of u there :) Cheers !
May 2, 2008 at 7:55 PMAnonymous: Camp there better...
May 2, 2008 at 8:00 PMAnonymous: Haha please bring a chair for me :)
May 2, 2008 at 10:42 PMAnonymous: Most of the type A & B units are sold off during last week bulk sale. Very disappointed the way IJM launch their project for whose really really wants to get a house, you don't have the chance. RM270K for a leasehold 925 sq ft condo, this is way too $$$.
May 3, 2008 at 4:08 AMAnonymous: Increase 10k for every units? IJM is really pissing people off.
May 3, 2008 at 11:16 AMAnonymous: More than 300 people queuing now.....and the south wings is almost sold out..so good The Spring????
May 3, 2008 at 12:55 PMAnonymous: all were snapped up like hot cakes. only bumi lots left.
May 3, 2008 at 2:04 PMAnonymous: shit...this is ridiculous. I was offered type A&B for extra RM20K.

really piss off with IJM.
May 3, 2008 at 2:16 PMAnonymous: The earliest person who queued up went at 3.30am. When I reached E&O Hotel at 7am my queue was number 60
Unbelievable !And someone actually went there and offered 30k extra to those who buy earlier for the units they want.
May 3, 2008 at 4:02 PMAnonymous: Guys,
The day has came and i was suprised.I came to E&O at 9:30am and there is already more than 100 registered customers. By 1pm, all units are sold in just soft launch, no promotion, no negotiation and we have to queue to buy a unit. Penang market is definity crazy. So,as a conclusion, whatever reasons discussed in the blog for past 6months dont even impact the sales of the spring condo. I expect the price to jump atleast another RM20k after OC. good luck for all the purchaser.
May 3, 2008 at 4:56 PMAnonymous: I went there at 8am plus and couldn't even get a unit. This is crazy and really stupid. I'll never buy IJM projects again. In fact, I have calculated IJM only has approximately 30% units for sale to genuine buyers only.

I was approach to buy choice units at additional RM20K. What the f**k!!!
May 3, 2008 at 6:35 PMAnonymous: for those who want to boycott IJM, dream on! YOU WON"T have a chance to boycott them as you WON"T have a chance to even buy their property. So its not going to impact them!

I believe you guys who went there to buy were one of those who said the spring sucks, etc etc, but GUESSED what? you were there also lining up to buy! :P
May 3, 2008 at 6:39 PMAnonymous: That is why, don't trust the -ve comments here:) they are here to cheat you guys only! now you regret. those who came late definately trusts the feedback too much! hahaha. its their strategy !
May 3, 2008 at 7:15 PMAnonymous: If these IJM people thinks that there is no impact at all those that comment in this blog... you may be too arrogant.

The world is watching...
May 3, 2008 at 7:59 PMAnonymous: welcome to the dog eat dog world :) nobody stopped you to get a few friends together and be a bulk buyer yourself. you were too confident
May 3, 2008 at 8:06 PMAnonymous: The fifth on in the queue went there around 4.30am. Majorities posted bad comments. However, ppl selling like hot cake. No worries, there probably be "The Summer", "The Autumn" and "The Winter" soon. Otherwise, please wait for Bumi Units. Lots and lots of them, during August. Hopefully there are some left.
May 3, 2008 at 8:40 PMAnonymous: yeah, by then. 10% increase on bumi lots ..haha..those who bought the units must be laughing now!
30K earnings in less than half a year..coo!
May 3, 2008 at 9:49 PMAnonymous: Everyone will post negative remarks on every project, its up to you to evaluate if you want to buy the project or not. Even Bayswater have few -ve remarks like high communication tower beside it, black chimney smoke from nearby tnb affecting in bad health + bad feng shui, but still look at bayswater price now.

also for those of you that did not know, the dumpsite will be made into a recreational park in 2-3 years time verified from ijm sales team.
May 3, 2008 at 10:02 PMAnonymous: I bought already.
May 3, 2008 at 10:32 PMAnonymous: so it looks like the spring is very popular now. My friend managed to grab level 5. He nearly lost the fight.

so it was type something like small size catergory.

what i can say is nobody cares about the view. It was abt 75deg viewing only. Anybody noticed that?

i watched from my condo and the spring was scorching hot! Warm sea breeze and heat were unbearable.

When the 2nd earthquake hit M'sia, my condo was shaking. Me and my wife ran down from 13th floor.

I am moving soon. Too late in giving my advice.
May 3, 2008 at 10:46 PMAnonymous: Finally the spring launched today... so, have anyone bought a unit or two? i miss today's launching, anyone mind to share?
May 3, 2008 at 11:37 PMAnonymous: I feel the developer does not respect their customers.

How can you ask your customers to wait outside in the HOT sun standing ?. What if it rains ?. The queuing should be in the hotel itself.
May 3, 2008 at 11:50 PMAnonymous: stand under hot sun? isn't that YOUR CHOICE? too bad, too many people. its you guys- THE PUBLIC who make them so arrogant. if you want them to change - BOYCOTT them..else..
May 4, 2008 at 12:18 AMAnonymous: Well, for those who missed the Spring soft launch today, there were just so many people that went. The queing numbers stretched until 200+ and the demand is just so hot. Easily 1,000 people visited the launch but only the early bird got the worms.

All 100% non-bumi units were sold. IJM people told me that they do not even need to do an official launch as there are no more units left for sale. I myself didnt manage to get any unit as i went at9am. I read many people asking to boycott IJM but I can only blame myself for not going earlier. In KL, there are people who even camp for few nights to buy a property, but I never thought Penang is showing some signs of that.

Well, anyone who has Type E unit for sale? Please let me know. You can email me at hongnemo77@yahoo.com
We can discuss about price, thanks
May 4, 2008 at 12:40 AMAnonymous: Since Spring fully sold out, is there anyone there who know which condo that is ok to buy within Spring price range? Anyone can recommend? I do not want Oasis or other project which when u sign S&P, instead of the actual unit size of 1000 sf, they will put lower at 700sf. Will get some problem to get strata title.
May 4, 2008 at 12:45 AMAnonymous: hi anonymous,

the one who wrote this:
"I was approach to buy choice units at additional RM20K."

Can intro to me the person tat can offer tat choice unit. I m hoping to get unit B or A. thx!
marvellous7@gmail.com
May 4, 2008 at 12:53 AMAnonymous: I went to the soft launch today at about 9am and to my surprise there were so many people queing already. I guess all the negative comments about the Springs in the past few months are posted by angry/dissatified people who actually wanted to buy the Springs but din get the chance to do so. So instead of being a good sport, they decided to post negative remarks.
Personally, I love the Springs alot. If you ask me why, I don know. It was just love at 1st sight. I'm not saying Springs is very nice or cheap. But it just kinda 'click' to me. Too bad i'm a first time property buyer and din realise that 1 have to be on the extreme to get hot properties. If i have known, I would have went in line at 3am perhaps? I would have settled for level 2 or 23 which is very unpopular. But I din get a unit as it was all sold out. Very disappointing. Good for all of you out there who got a unit.
May 4, 2008 at 1:45 AMAnonymous: wow so many interested buyer here. maybe owner of the spring want to let go their unit can offer them to bid, since the demand is there.

u never know how much this spring lover may bid for your unit... 50K more from the original price? Who know?
May 4, 2008 at 1:47 AMAnonymous: yahoo..!! i managed to get myself a unit today. waited from 6am onwards and there're more than 40ppl in front of me already..
anyway, i appreciate those negative and positive comments since the start of this blog..too bad to those who can't get any unit.. and to those who managed to get it, we'll be neighbours soon :-)
May 4, 2008 at 7:06 AMAnonymous: Hey, anonymous at top... I arrived at 6am too. You might be just in front or behind me! :)

I got a unit type D, Penang bridge view. I do believe that it is a good unit as the salesman said that it'll not affected by the evening sun (if they cheated me, then I have no choice but just install air-con :p)

It's not the unit that I first wanted, but now I feel that it is a good unit because it has Penang bridge view and will not get the hot evening sun.

Congrats to all of the buyers for own stay (I don't like people who buy a lot of units and jack up the price too) :)
May 4, 2008 at 8:02 AMAnonymous: Anyone here have Type E to sell? I am very interested.
May 4, 2008 at 9:17 AMAnonymous: There will be another price hike when bumi lots are released later. Expected to be at least 20-30k after 6 months. Those who plan to sell now should think twice. You can easily fetch 40-50k in <1 year.
May 4, 2008 at 12:48 PMAnonymous: Yeah, Good luck to all who got a unit following the "herd mentality". To those who got a unit for own residence, start planning to move in to your new home, OC approximately latest by early Jan 2009. And to those who bought for speculative purposes hope that you will make quick gains but do it fast while there is demands with the cows still rushing home following the frenzy "herd mentality". Reality will set in went peoples pockets are dry and basic necessities becomes first priority.

Anyway, to those who didn't get a unit, despair not. Try looking for other properties with equally good facilities, freehold but with an equally reasonable price. In fact there is abundance good bargain if you knows how to look for.

Think of it this way, the recession is coming in, inflation is affecting per capital household income. Pretty soon, the financing of such an expensive property for young executive would be very tough to a lot of people.

Let's do the maths here, most buyers are young 20-30 something, probably first house buyer and working in the factory. Paying the down payment is easy. Getting a bank to finance it is a little bit of work. Paying the monthly instalments is going to be tough!!!

You'll be better start worrying as you might be expected to pay approximately RM1600 per month to finance the unit. Add that with the maintenance fee which comes to approximately RM180-00 per month.

Plus if you are currently financing your brand new trendy car, it should comes to about another RM1,300 to RM1,500 per month depending on your lifestyle.

Expect to set a side RM3,000 to RM3,500 per month just for this 2 minute joy of owning a quarter of million Ringgit apartment (not even high class condo, the original plan submitted was for a medium class apartment).

You better pray hard that you are currently earning approx. RM7K per month and your banker does not reject your loans.

Like the marketing specialist used to say, "Don't have post purchase resonance" i.e. feeling regrets with your purchase from the "Big SALES"!

Looking back, the adjacent property i.e. Oceanview apartment is selling at approximately RM180,000 per unit. Typical unit is 860 sq ft with one car park and a big swimming pool. Typical buyer of Spring say level 11 is paying approx. RM270,000 per unit that is approximately RM80,000 to RM90,000 more (and that is even before the sub-sale price increase). It gives me goose bumps thinking of that. I'll rather safe my monies now.

Good luck guys!!!
May 4, 2008 at 12:52 PMAnonymous: Hey, to those of you who bought for investment purposes, don't sell your unit yet, prices is expected to increase to RM350,000 onwards within one year from now. Hold on now, don't sell if approach by interested buyers yet.
May 4, 2008 at 1:49 PMAnonymous: All ~35% units sold out yesterday!
May 4, 2008 at 5:22 PMAnonymous: I am confused. Why the sudden demand for THE SPRING? Isn't it the worst project ever built ?

Why the sudden "I don't mind the rubbish view" OR "I don't mind the evening sun" ?. What happen to all the negative comments? Does'nt it carry weight ?
May 4, 2008 at 5:57 PMAnonymous: Investors don't care bad smell, sound pollution & no swimming pool.
May 4, 2008 at 6:06 PMAnonymous: you don't have to be confused. these people is not looking for a home. they are speculating and hoping for quick money. no one wanted bad smell and that is true.

for those investor of the spring, this is definately bad investment. no facilities, no rental return, high maintenance fee, lease hold yet the price to be expected to rise. something wrong some where.

"BLACK MARKET"
May 4, 2008 at 6:26 PMAnonymous: I heard from my friends, bulk buy & staff buy already hold up 50%. They try to "goreng" market! let them die in inflation, lease hold, bad smell & etc. prop_fbi.
May 4, 2008 at 6:28 PMAnonymous: BOYCOTT The Spring. Don't give the speculators a chance to make quick buck !
May 4, 2008 at 7:39 PMAnonymous: I know this is a tactic from the speculators as I have few friends who working on house reselling company as well. Some of the bulk buyers just bought a few units, and they themselft just asking for higher price through agent, blogs and etc to buy their own units....They create preposterous condition that The Spring is very hot, once the second or thrid buyer bought the units, the unit price rise up to very high value which is not equal to the units value, then the buyers will be suffer. The speculators will say thanks to the buyers and now they can release from their unit/debt and earn the money from those unresonable buyer.

All please wake up, the units now increase to unreasonable stage, those price already can buy regency height, palm palladium, for type E or G price now seems can buy Bays Water already.

I'm quite surprise The Spring with the bad surroundding environment, not much facilities and etc also have a good response to many buyers. Once I chit chat with my friend (Bank loan division, house reselling agent) yesterday, I only know that some of the speculator bought few units, and they have money to pay up only for first down payment and they are very very afraid with their unit is not able to be release later because they have no so much cash in hand to pay for the bank instalment later. U think they will live there with this environment? What you all see the condition seems to be the successfull of those "investor", many people queuing from early morning, 1000++ people visit the soft launch,some the people upset/regret as they can't purchase the unit (not because of living but lose an opportunity to earn fast money) and etc.

The other tactics of these investor also create the fake scenario through this blog and some other news that they want to purchase this unit and that unit so that their unit will be hottest and the price will be increase later. This I know from friends as agent from house reselling company.

I just advise everybody, please use our mind clearly, u all even see that some of the bloggers want to purchase or accept the unit which face the rubbish/sewage view, do u think they want to live there? U all just guest what is their intention.

Now majority units already been sold left bumi units only, so there is no reason anymore for me to discourage people to buy The Spring so that I can purchase later. My intention will be to advise those people who really need a house, please plan your money and target wisely so that you will not become a victim of those unethical specular and investor.

Finally I think and prepare to be shoot from some of the bloggers but this bloggers will be normally as specular/ investor to The Spring and not for those who really need a house
May 4, 2008 at 8:43 PMAnonymous: As mentioned earlier, all is IJM fault. The way they market their project < 70% units priority to the bulk buyer... n everyone thinks that The Spring is so hot, nah...

What IJM should do now is to regain back their customers confident else if they keep lauching their project in this method, Penangites will piss off and they rather buy other project. IJM are not the only developer in Penang...
May 4, 2008 at 8:55 PMAnonymous: Anyone interested on type G?
May 4, 2008 at 9:24 PMAnonymous: As i posted just now abt viewing angle. All types except for E have only 65deg viewing angle when you stand at the balcony.Imagine every morning/ after work, you try to enjoy seaview but about 35deg of view is gone.Perhaps a dissavantage which seems not to be a concern to most buyers?

If you see national geographics, Dubai piled abt 300 holes on every corner of the reclaimed land to simulate an earthquake. As the soil sink,sand was refilled and it is done many times on a same location. What worry us is if earthquake strikes M'sia again, imagine bubbles at reclaimed floor will escpae & it will cause movement of sand compound. Another nightmare. Hope housing govt should impose laws on just building double stories houses on reclaimed land.
May 4, 2008 at 9:58 PMAnonymous: I still feel SPRING is very very expensive. I really can't understand why so many people still want to buy. Really can't imagine why people wanna to pay big bucks to look and smell the rubbish hill and black river.

As I mentioned before, recession maybe just around the corner.
Looks like no one heeds good advice.
May 4, 2008 at 10:19 PMAnonymous: I really don understand. The soft launch is over and all units except for the bumi lots are sold. So what more is there to comment except to be happy for those who managed to buy the units. Why still wan to post negative remarks about the Springs. Just left Springs alone k if you can't be happy for those who bought it. Let's leave this blog site to those who wan to share their happiness of owning Springs and those who wan to buy/sell.

To me, Springs is a nice affordable unit. Too bad i went too late during the soft launch.

Anybody out there interested in letting go their unit Bs or Ds?
May 4, 2008 at 10:50 PMAnonymous: i was genuine when i meant i dont mind the dump site. dont think it'll be there for too long. i'm seriously looking for a home and i'm hoping for type F levels 8-12 facing the bridge. anyone letting go, pls contact me at mikephang@lycos.com.

i'm not goofing around or spinning some shit. if the offer is right, i'm buying.
May 4, 2008 at 11:04 PMAnonymous: anyone interesterd to get a type C Penang Bridge view with extra 20K from the origin price?
May 4, 2008 at 11:06 PMAnonymous: Anyone notice there's construction is carrying on near the new temple facing the Penang bridge view? Is there going to be a low cost apartment that will block the view for those who buy Penang Bridge view unit?
May 4, 2008 at 11:08 PMAnonymous: If you guys wonder what is so special about the Springs, just drive thru the actual building and look at the design. It is beautiful and unique in its own way like Bayswater. If you see other apartment like Oceanview, Gambier Heights, etc, they dont have a design at all, just square shaped. Also take a walk along the Nautilus bay promenade, it is really nice and many people are starting to go there as well. If u live by the sea, you should be clever enough to know that when its low tide, there will be mud smell.

Same like Gurney Drive, mud smell is also very strong when low tide. Still the coastal condos there are selling at super high prices. Thedump site will be made into a recreational park in 2-3 years time.
May 4, 2008 at 11:11 PMAnonymous: There wont be any blocking at units facing the Penang bridge side as the low cost flats are all situated near Oceanview.
May 4, 2008 at 11:12 PMAnonymous: [anyone interesterd to get a type C Penang Bridge view with extra 20K from the origin price?]

To this person what floor do u have and ur email pls
May 4, 2008 at 11:38 PMAnonymous: [There wont be any blocking at units facing the Penang bridge side as the low cost flats are all situated near Oceanview.]

-Do you know what's going to build there? I passed by and see some construction in progress by IJM.
May 5, 2008 at 12:24 AMAnonymous: Dump site become recreational park?
Please visit http://www.kwongwah.com.my/news/2008/01/03/124.html
(after dot please type html)
http://mykampung.sinchew.com.my/node/21311
U think government so rich that they spend 500million for dump and sewage threatmen because of SPING and IJM?
To clear up dump site for example
http://www.canada.com/victoriatimescolonist/news/story.html?id=8c216fa9-d2d4-4c93-960a-64832c29b2a2&k=38702
and
http://www.deq.louisiana.gov/portal/portals/0/news/pdf/groundlevelmuchtrash.jpg
cost around RM30 million, this does not include the cost of relocation of the dump site and the cost of building the recreational park, I estimate another RM60million-RM70million is required, so will penang goverment to spend approximate RM600 million for IJM? If IJM care to all buyers, they should spend this money.
May 5, 2008 at 12:40 AMAnonymous: Property analyzer, the land and area surrounding the dumpsite belongs to IJM. Reason why they make it into a recreational park is that after it becoming a dumpsite, the land is not stable enough to build houses on top of it. So they will build a recreational park. This is what IJM people say and you can see from their masterplan on the coastal development from Bandar Sri Pinang to The Light at their sales office as well. I am not siding IJM or anyone else, just telling you what i know.
May 5, 2008 at 2:02 AMAnonymous: Emm, I think I try to share what I know as original plan is to build rubbish recycle factory which they plan to import china rubbish recycle technology. The sewage threatment is already build and complete in FEB -2008, it is impossible to be remove. U might be correct the dump area is not able to build house but the rubbish recycle factory.

I know that last time IJM have some deal with Penang old government, old government has committed some deals (not to publish in here) which very beneficial to IJM and IJM will build the light waterfront. The deals is only beneficial to IJM and KAWAN- KAWAN IJM, offcourse it will bring more good outlook to Penang, however it is no much beneficial to Penang residents especially the lowest income category. Did u see the low or medium cost flats build by IJM in their master plan? In their master plan they only build service apartments, hotels, resort, premium condo, terras house, supermarket and etc.

When old government lose in the election, IJM stock price drop more than 30% and hit a 52-week low of RM4.90 on March 19 this year. This is because the deal from old government might not be realized.

I'm very agree with new penang government strategy which IJM should share their benefit which contribute to those especially who have lower income category resident. Otherwise, IJM will not get some special deal, i.e. conversion from leasehold to freehold land title and etc.
May 5, 2008 at 11:03 AMAnonymous: wow.. all NICE comments coming up now. you guys are so predictable. bad comments before buy, good comments after buy.

be careful of 'them' for future blog postings ya!
May 5, 2008 at 12:29 PMAnonymous: I am interested to buy TYPE C7, ferry view. Level 7 - 21.

Anyone is will to part with their unit ?. I am will to pay additional RM35K extra.
May 5, 2008 at 1:51 PMAnonymous: Hi Anonymos above,please leave your contact,I will call you.
May 5, 2008 at 1:53 PMAnonymous: "I am will to pay additional RM35K extra." ==> another buyer trying to create false impression to generate purchase for quick buck. ignore him/her
May 5, 2008 at 3:20 PMAnonymous: yes, pls leave your email/phone. i will call you too. I can give you at the same price i bought since i regret buying it now.
May 5, 2008 at 4:24 PMAnonymous: Mmhh.. looks like bulk buyer is trying to create false demand here.

Yep.. leave your number maybe I will sell you at a discount rate. :-)
May 5, 2008 at 4:55 PMAnonymous: nah, +30K, u think they r stupid ah. i am willing to sell for same price. i don't want to take the risk, interested buyer, gimme your no. don't have to spend more to buy when u can get better rates
May 5, 2008 at 5:12 PMAnonymous: What unit and level do you have ?
May 5, 2008 at 5:30 PMAnonymous: To the writer of selling the unit at the same price, please leave your telephone number down so people can contact you. I can also write myself I will give away free unit of The Spring. Writing doesnt mean anything.

For sub-sale u still need to wait until OC is obtained as IJM wont change name for you. Therefore you still need to apply loan and pay all the lawyer+loan fees. So you mean that you will lose money to sell out the unit?

If you are really that stupid please give those who are interested to buy your number. I am sure there are tons of people who will buy at the same price you bought.
May 5, 2008 at 7:35 PMAnonymous: I agree. The surrounding around The Spring is not promising. Although its located in town area but buyers also need to see the accessibility when you are going to work or back home daily. These are very important consideration since you will be experiencing this daily. Also when you open the window you do not wish to have stinky smells unless you use to such environment. Its not worth buying moreover its leasehold. If you are buying for own stay better look somewhere else. Initially I thought IJM will sell from 200k. Some of us may compromise if the price is not so high. 300k for such place, you really need to consider carefully.
May 5, 2008 at 7:54 PMAnonymous: Hey Guys,

Very amusing to notice how many busybodies we have in this blog who have no interest or whatsoever in the spring condo yet have the time to give sit around and give critical comments...

Hey, its a free market out there. Willing buyer, willing seller at any price agreeable. Who are you critics to decide which demand is genuine or false?

It is also interesting to note that among ALL projects in Penang featured under this webpage, the Spring is the only project which is the most criticised..yet most highly sought after (besides Bayswater)... Ever wonder why? :)
May 5, 2008 at 8:26 PMAnonymous: Try to drive thru that area with your car in the morning, you will see a lot rubbish lori jam the way out near patrol station. At the "investors" price, I think you can buy landed house at Botanica City.

Market FBI.
May 5, 2008 at 8:31 PMAnonymous: leave your contact and i shall contact you.
May 5, 2008 at 10:31 PMAnonymous: dear market FBI, at that price you can buy 2 bungalows at sintok, kedah as well... so please don't confuse strategic location vs rural areas. TQ
May 5, 2008 at 10:36 PMAnonymous: block A bridge facing, high floor going for RM300K. interested buyers only.
May 5, 2008 at 11:06 PMAnonymous: Hi TQ, strategic location for rubbish & black river?

Market FBI
May 6, 2008 at 12:04 AMAnonymous: Has anybody sign the SPA? Please select the lawyer firm wisely. According to a friend of mine who works as a lawyer; she said why is IJM provides all the lousy and expensive (like shark) lawyer firm to The Spring buyers. Although the legal fee is free now. my advise to you that please do some survey on the charges for the stamp duty and other misc charges before you select a legal firm. Some legal firms charge very high legal fee.
May 6, 2008 at 12:09 AMAnonymous: Has anyone start to do survey on housing loan package? I went to do some survey today. I realised that for those who intend to get flexi-home loan, they should opt for HSBC. Those who want to take the conventional type of loan, UOB & OCBC loan are better as they offer BLR-2% (ZMC).
May 6, 2008 at 1:17 AMAnonymous: to all the naysayers, pls keep your mouth shut since soft launch is already over and all units are sold.
who cares if the price is artificially high due to speculators... why harking on old issues like dumpsite & so on? i can't believe that there're so many negative remarks being circulated over & over again like broken record.
i'm not a speculator (though i know some will ASSUME that i am one)..
in fact, i bought myself a unit at C14 block.. why? because The Spring has all the facilities i wanted. 2 car parks, no swimming pool, low density (396units vs 500+ for The Oasis) and etc..
for the unit i bought, i would consider it in my "affordable" bracket.. i know that there's a dumpsite nearby & sewerage as well but what to do? i'm jz a "makan gaji" guy who can't afford buying second hand house (with extra profit margin by seller)..not to mention landed property.. in fact, most of the ppl i met during the soft launch are genuine buyers who intend to stay there..
as for market recession..pls b realistic..if you're so worried over recession issue, then don't buy anything at all because it will most likely happen every 10 years.. 1997 was the last one.. and there will be another one between 2007 till 2009..
so pls wake up and start criticizing new projects instead. its time to move on..
May 6, 2008 at 1:29 AMAnonymous: hi ZMC, ru sure OCBC is (BLR-2.0%)? the quote i got is (BLR-1.8%).
public bank is alright (BLR-2.0%) with no other fees. i hope they don't have any hidden fees la since the guy told me they'll only charge rm10/6mths maintenance fees..
my quote is slightly higher cos i added MRTA (which consists of Death, TPD and 36 critical illness package)..i'm not sure whether i'm getting the best deal since it's my first house..

p/s:- btw, i'm the same person who wrote the comments above (i bought a unit at block C14)

-ciplak-
May 6, 2008 at 7:37 AMAnonymous: C14 guy what floor u bought?
May 6, 2008 at 7:47 AMAnonymous: Flexi home loan:

Are you sure that HSBC offers best rate? What rate they offer you?

I thought CIMB can get better rate?
May 6, 2008 at 8:19 AMu2: how about other bank is offer rate. Any body can tell me.
May 6, 2008 at 8:23 AMAnonymous: Beside the OCBC bank, how about the other bank rate is offer. Anybody can tell me.
May 6, 2008 at 9:26 AMAnonymous: The Spring is a good property for invest, no doubt. IJM already created the "market".
If there are people posting -ve view here, we should accept with open minded, especially those first time buyer. You will never know what happen and only can learn from other people experience.
I have bought and sold 2 properties, and 2 still under construction. This is just because I am making mistake in the past purchase, force me to consider other project and sell exiting one. All the properties I have is for own stay purpose, thus, no making many money when sell it because I spend on renovation.
If you think I am experience enough to provide comments, I will say The Spring is not suitable condo for stay, but good for investment.
I just hate this kind of selling tactic, which make us spend additional $$ to buy a small condo. This guy making the property price sky high, and it is not healthy. Hong Kong property was in similar situation before 1997, and until today, the property price still 10 to 20% lower compared to before 1997. For those who willing to listen, please take this as an alert, and don't help to push the price higher by taking the unit from the speculators. If the speculators failed to make any profit this time, IJM will sell direct to all the people directly and we can get the unit we want, with lower price. Isn't is great? I am doing this because I can't imagine for our next generation, what price they going to pay, for a condo...
Let's think about it.
May 6, 2008 at 9:42 AMAnonymous: AmBank Penang Tower branch is offering good rates. Their contact is 04-2290949.
May 6, 2008 at 10:28 AMAnonymous: its just C14 block..details are not necessary.. :-)
i intend to stay there for sure.. and will install air purifier with the new high tech aircon :-P
i personally don't agree with tactics by speculators but as mentioned earlier by someone, its a dog eat dog world. those with money are kings/queens..
those who wants to buy from speculators, then its up to you..don't criticise those who've already bought the place for their own use..

ive surveyed 4 banks:
citibank (rate is not so competitive)
hsbc (rate is not so competitive plus its quite confusing; MRTA 14K+; RM10 maintenance fees every month)
ocbc (BLR-1.8%; MRTA 17+K; tie-in 5yrs; 3days notice for withdrawal; no hidden fees)
public (BLR-2.0%; MRTA 12+K; tie-in 5yrs; 3days notice for withdrawal; RM10/6mths maintenance fees)

any other ppl with rates from other banks?

-ciplak-
May 6, 2008 at 11:25 AMAnonymous: ciplak, i was just asking as maybe we are neighbours, I am on A13 11th floor :)
May 6, 2008 at 2:24 PMAnonymous: Sold my Type C with extra 40K.
May 6, 2008 at 5:27 PMAnonymous: Extra 40K for type C, means about RM320 per square feet.... wow. Bayswater only sell at about RM340 per square feet.
May 6, 2008 at 5:51 PMAnonymous: hi.. i am interested buyer but was told sub sale can only happen after OC obtained. How is it some of you sellers can sell now? Mind to advise.. if can i oso want to buy now be4 price gets even higher after oc...

thanks \ sue
May 6, 2008 at 6:33 PMAnonymous: do an intent letter with a lawyer and your seller
May 6, 2008 at 9:14 PMAnonymous: I also bought a unit for my own stay, type C. I had never imagine that the scenario of buying a Condo is like the scenario in wet market. It was selling like hot cakes. Phew! For the loan, I heard EON Finance is offering quite a deal. Have anyone of you checked it out? Pls share...

-typeCbuyer-
May 6, 2008 at 9:25 PMAnonymous: letter of intent? is it a valid and binding doc? ok ok let me check with my lawyer. Thanks!

sue
May 6, 2008 at 11:10 PMAnonymous: I got a loan at Maybank Dato Kramat for BLR - 2.2%. This branch only offer such good rates as the Manager is quite lenient.

You have got to mention that the project is The Spring. They will not give this offer for other projects.

Their contact number is 04-2262627, 2266977, 2262936

Trust me. BLR - 2.2% with no hidden cost, no processing fees is a good deal.
May 6, 2008 at 11:39 PMAnonymous: sold my type D with extra 50K.
May 7, 2008 at 12:08 AMAnonymous: wei everone selling so easily one meh? is the OC requirement a joke ah?
May 7, 2008 at 12:12 AMAnonymous: Hi kawan-kawan, siapa kata "soft launch" semua units sudah habis? saya masih mengkaji apartment ini sebelum saya membuat apa-apa keputusan. Bumi lots masih banyak lagi untuk saya pilih. Biar meraka coment habis habisan.
May 7, 2008 at 12:28 AMAnonymous: All, legally nothing can sell before OC obtained. The same thing applies to BUMI lots too.
For those who really want to buy apartment, pls wait for BUMI lots or PICA Apartment launching near Gold Coast.

Prop_fbi
May 7, 2008 at 1:09 AMAnonymous: yeah i think the OC requirement is mandatory, if not i am thinking of selling my A block ferry view as well :)
May 7, 2008 at 2:02 AMAnonymous: hi m7, how is the seller going to sell to you? OC not out yet...
May 7, 2008 at 2:31 AMAnonymous: Actually we can see a very clear picture in this blog...

2 weeks ago there was a silent launched to the bulk buyers and 70% units sold...

Last week The Spring soft launched and all units sold out only left bumi units...

This week suddenly the bulk buyers unit pop up and you can the they actually sold for 30K, 40K, 50K more from the original price...

Who invite speculators? IJM
Why after 2 week price different 50K? IJM marketing strategy

IJM giving priority to the bulk buyers making quick money. 70% sold to bulk buyers. 2 weeks after making 50K.

I have to SALUTE IJM for their method

Spend wisely... IJM is pushing you guys to buy more expensive house where by you don't have to pay so much.

You can do alot more with your 50K and not just putting inside the speculators pocket... 50K is alot of money

Please spend wisely, think carefully before you buy

If you really like The Spring so much, negotiate with them. Don't let them hike up the prices like nobody business...
May 7, 2008 at 7:15 AMAnonymous: bet u are one of the sore losers who failed to get a unit :P
May 7, 2008 at 8:36 AMAnonymous: what a good money making project..
May 7, 2008 at 9:02 AMAnonymous: the 2 anonymous above must be the bulk buyer.
Hehe...

I agree with the anonymous that IJM method is definately wrong and unprofessional.
May 7, 2008 at 11:08 AMAnonymous: I have visited several banks. Below are the interest rate for loan from several banks:-

1. UOB: BLR-2%(ZMC & NZMC)
2. OCBC: BLR-1.8% (ZMC), BLR-2.1% (NZMC)
3. HSBC: BLR-1.75% (ZMC), BLR-1.9 (NZMC)
4. Maybank: BLR-2.1% (ZMC), BLR-2.2% (NZMC)
5. RHB: BLR-1.4% (ZMC)

Although Maybank is giving the most attractive rate but I received a lot of complaints from lawyers and insurance agents. They discourage people to go there as there will be a lot of hidden cost and slow in payment. You might end up being penalty for late payment.

UOB is the second best rate but you are not allow to do early settlement. For those of you who have the intension to settle early, you must not take UOB as it allows you up to 50% early repayment.

HSBC housing loan rate is not really attractive but for those who wish to go for flexi payment, HSBC will be suitable for you. You are only tie up for first 5 years where you can refinancing and sell off your property.

OCBC bank offers for semi flexi as they don't provide cheque book. You are allow to do early settlement without penalty.

RHB is the lowest housing loan rate.

For those who are buying MRTA from the bank, please try to get more details about it. The reason is some MRTA only cover for death and TPD and it does not cover for Critical Illness.
May 7, 2008 at 11:25 AMAnonymous: For those of you who plan to use IJM legal firms, please select Khoo, Oscar & Loh as I heard from my friend this legal firm rate is better than the rest of the appointed legal firm from IJM.
May 7, 2008 at 11:27 AMAnonymous: Could you please identify what are the hidden cost for Maybank ?.

Just wondering, if all documents are inplace, how can the bank (Maybank) disburse the money to the developer late ?

Thanks.
May 7, 2008 at 11:51 AMAnonymous: which IJM legal firms give the cheapest rate ?
May 7, 2008 at 2:16 PMAnonymous: I have a C7 unit for sale. 6th floor. Anyone interested?
May 7, 2008 at 2:49 PMAnonymous: dear all,

as i understand it, all our legal fees are taken care by ijm. but if we take a non-zero cost loan, we will need to use ijm's panel lawyers for legal documentation? is it compulsory?
May 7, 2008 at 3:16 PMAnonymous: C7 level 6, how much do you want to sell ?

Any email ?
May 7, 2008 at 3:26 PMAnonymous: I missed out on this one, was thinking to invest but too late. Was away when IJM open the sales.
By the way for those getting the loan. Why not look for fix rates, it maybe higher then coventional loan but you are protected if BLR goes up.
Within the last 25-30 yrs BLR has gone as high as 12.75pct twice, and 25-30yrs are the norm tenure. if yr are paying say 1400 now u will hv to pay 2600 if it goes up. Check out HSBC I think its 6.25 or 5.75 fix rates. Just an idea.
May 7, 2008 at 5:38 PMAnonymous: C7 level 6, i am interested. how much are you selling ?

Any email through which I may contact you ?
May 7, 2008 at 10:00 PMAnonymous: any desperate seller?
i'm willing to help you...
discount 20-30K... :)
May 8, 2008 at 12:20 AMAnonymous: thanks for the great market loan rate :-)
i guess we can make our choices now since we've covered most of the banks..
how about lawyers engaged in the deal? besides the Khoo Oscar mentioned earlier, any other lawyers worth mentioning?
Thanks in advance

-ciplak-
May 8, 2008 at 8:43 AMAnonymous: I prefer the block A facing the ferry. Anyone wants to sell ?

The bridge side is facing the afternoon and evening sun, smelly river and when you open the window, a huge pile of rubbish will greet you in the morning.

No offence. Just the truth.

regards,
May 8, 2008 at 10:12 AMAnonymous: a word of advice for those who are looking to buy a unit here:
1) the bulk buyer/speculators/fast buck makers are MORE DESPERATE than you

2) they want to sell it as fast as possible, cuz once people start moving into the building, they know all hell will break lose, the truth about The Spring will revealed (smell, smoke, etc)

3) so i would wait rather than rush into decision to grab it from them now

4) a lot of false messages posted here, saying that they have successfully transacted the sales and earn 30K, anyone can say that, so don't be fooled.

5) since you will pay premium for such unknowns, why not pay for other condos which are already occupied by people, at least u know exactly how it is before you move in.

Summary : You are now paying RM30K extra for something unknown, with that amount of 'loss', wouldn't it be less riskier looking elsewhere 2nd hand condos? Think about it.
May 8, 2008 at 10:25 AMAnonymous: Really hope the DAP government will do something on that ... really sick & angry over those "Bulk" buyer , who I should call them as DayLight Legal Robber, who simply doing nothing but steal those who really need a house to live, hard earned blood & sweat money just like that !!! Wonder will they feel peaceful by earning in this cruel way... They are the one who make the Penang properties getting more expensive than it actual market price & at the same time make all the penangites suffer even more than before while they become richer & richer earn million & million of $ without doing anything in short term !!!!
May 8, 2008 at 10:32 AMAnonymous: All the "REAL" buyer who really need a house to live : PLS DON'T BUY ANY UNITS from those speculator/bulk buyers.Let them hold the units for more than 1 yrs ... let them suffer to pay the loan interest !!! Let them LOST till they DROP the price back to actual Marker Price !!! PLS STOP FEEDING them your HARD EARNED BLOOD SWEAT $$$ to these "ROBBER" !!!
May 8, 2008 at 11:27 AMAnonymous: agree. some bulk buyers are more DESPERATE than anybody else.Not easy to earn 30-50k. no point to feed them your hard earn money. Since those bulk buyers are so rich, just let them hold their units for years.
May 8, 2008 at 12:12 PMAnonymous: Four you info,

The developer earned an extra 3 million just by increasing RM10,000 on the day of soft launch for every unit.
May 8, 2008 at 1:32 PMAnonymous: Just heard that IJM increases another 20k each unit?
May 8, 2008 at 1:34 PMAnonymous: Ignore what the developer earns, those are beyond our control now. What we can do now is to prevent the speculators from earning easy money as they are really sucking money out of your pockets.

Let them be desperate, if you keep feeding them, you are also responsible for encouraging more and more of these VIRUS'es.

Want to see a change? See how Penangnites deny BN in the recent election, are you ready for that? :) It is your choice, if you keep supporting them, then pls don't cry when they can afford to buy 10 bulk units in next project launch!
May 8, 2008 at 1:40 PMAnonymous: The developer increased 10k for each high floor unit above level 6after bulk sale. It means that they indirectly provide 10k discount to bulk buyers. they wanna boost up their profit by burning a big hole in penangite pocket. What a shame.
May 8, 2008 at 2:03 PMAnonymous: Agree...agree...Don't let the bulk buyer to increase the price unreasonable. If this kind of trend continue, i can't imagine what is the price for Penang condo/apartment with smaller unit than landed house in other state.It is no point for penang apartment/condo to increase with a big amount while our salary increase little only.
May 8, 2008 at 2:21 PMAnonymous: SAY NO TO SPECULATORS !!!
May 8, 2008 at 2:28 PMAnonymous: why those people who didnt buy a unit keep on complaining? wont help much if u keep on complaining, on soft launch u could have gone earlier to buy.

also condo price increase is so so normal in penang, bayswater 300k-500k, penang times square not build finish also 260k-360k, alila horizon 350k - 440k, putra place 170k - 250k(leasehold). All condo price also increase.

I am not IJM supporter but i am working as a property agent in Penang. So one thing certain is price will surely go up, is just by how much? For those of u who didnt know, IJM is opening registration for Bumi units, meaning if they cant sell in few months time they will call u up.

For those complainers out there, its a chance for u to do something instead of whining non stop
May 8, 2008 at 2:53 PMAnonymous: It's fine if we woke up earlier on the soft launch day, what i dont understand is why IJM open sale to those bulk buyers first?I dont mind they quene up together with me on the same day to fight for a unit. why they have that special privilege?
May 8, 2008 at 2:59 PMAnonymous: Housing properties/Agents = Speculators/Bulk Buyers ... see they are panic now.These are the people who could get the special $ from developer .. & now they voice out their FEAR ...
May 8, 2008 at 3:13 PMAnonymous: Let me tell you the tactic on how they "goreng" the penang properties.Normally they act as both roles : Buyer & Seller.For example, if they want to "goreng" the price of certain condo.First, they will act as "buyer" bought abt 10 units with price (eg) 90-100k which is the actual market price.& then they will act "seller" to sell 1-2 units by tag it as highest as 150k ... & they will spread the news louder & louder to make sure every other unit owners in that condo know about it ... these owners will start to wonder could we sell off our unit as highest as 150k ? though the current market price max is 100k ? & then they will act as a "buyer" again to answer other owners' doubt by "buying" the units back to themselve virtually & start to spread the news again : yes, someone has bought it with 160k ... this will create the chain reaction from the rest of other owners .. who will also raise their bar to 160k ... & that's how they goreng the condo $ .. as they still have 10 units on hand which range 90k-100k & they will sell it off with 150-160k ... 10units x 50-60k = 500k-600k net profit easily .. by playing around both roles as seller & buyer ...
May 8, 2008 at 3:23 PMAnonymous: if u can register for bumi lots, i think that is better than buying from the speculators now. buys you time to wait for a few months to look at the situation of the spring. best is if u can hear directly from the people realy staying there... don't rush into properties, esp first time buyers.

on a side note, spsetia has already given -9800RM discount on the bumi lots that they release, cuz after a month release, response so-so only. so do you know what u need to do with IJM bumi lots? make them sweat!
May 8, 2008 at 3:23 PMAnonymous: Housing properties/Agents = Speculators/Bulk Buyers <----- ???

Does this mean a sales man selling a Ferrari drives one? U must have dropped out of school with this mentality :)
May 8, 2008 at 3:26 PMAnonymous: this is how they goreng the baywater, alila ... & also they are earning million of dollar from there ... as I know 1 of the speculator earned himself a 400k Mercedes simply goreng the price & also thanks to agent's good works in both roles : buyer & seller & also good in spreading the news + heavy promotion on feng shui !!!
May 8, 2008 at 3:49 PMAnonymous: now stil got ppl asking ppl dun buy the bumi lot, let the ijm sweat, then later it fully sold out again. if you are 1 of the ppl goin there to queue up on the soft launch day, then you shud understand the situation clearly, where the demand for the spring really high, not only from speculator, but also from the genuine buyer. a lot of ppl cant get a unit on soft launch, because they believe wat wrote on this blog, and go late that day, thay y cant get a unit.....this person is me! too bad.
May 8, 2008 at 3:58 PMAnonymous: Yes dont believe what people write. The best thing is go to the actual site and survey yourself. If you like it go ahead :)
May 8, 2008 at 4:01 PMAnonymous: I am an observer here, and I do not believe that there are many transactions with 30K and 40K on top of original price.
If all of you interest in this units and don't want to pay unnecessary big money, all of you should work together, wait for the bumi lots or 6 months after OC obtained. I am very sure you could get a unit with less than 20K on top of original price.
Please help to stop this which boosting Penang property to sky high, and normal working people can't afford it.
We all can accept certain degree of property appreciation, but not in this scale.
For the property agent, you should hold a responsibility to make sure your clien get a property with reasonable price, not helping to increase the price to earn more commession.
I just try to help those who really interested in The Spring for stay.
May 8, 2008 at 4:06 PMAnonymous: u can't get a unit not becos u go late, its becos of the bulk buyer 70%..haha..and now u wanna support them? go ahead!!!!!!!!!!
May 8, 2008 at 4:07 PMAnonymous: " lot of ppl cant get a unit on soft launch, because they believe wat wrote on this blog, and go late that day, thay y cant get a unit.....this person is me! too bad.

May 8, 2008 12:49 AM"

Your message contradict yourself. If your believe the info in the blog, your will never go to the soft launch. And if you plan to go, you should expect that other people will have the same thinking as you.
My friend a bit cleverer because even I told him about this blog and the -ve things, he still went to the soft launch at 5am and get a unit with relatively better location.
May 8, 2008 at 4:22 PMAnonymous: coz i thought less ppl interested due to the environment around which stated in this blog, and reach there at 10am, already so many ppl queue up, so get nothing.
May 8, 2008 at 4:31 PMAnonymous: The bad environment is true... dump site, sewage plant and bad smell
May 8, 2008 at 5:06 PMAnonymous: Yes I agree. In fact, all the negative point are all 100% true.
Even have supporting documents from newpaper website.

The ironic thing that baffled me is, those who post the negative points (such as burning, rubbish hill, black river, afternoon sun, etc) went as early 6am to queue to get a unit.
May 8, 2008 at 5:49 PMAnonymous: The the guys suffer himself..... :)
May 8, 2008 at 5:58 PMAnonymous: for those who missed out earlier. go register for bumi lot. heard that ijm have open the registration.

don't miss out. this is your last chance.
May 8, 2008 at 6:16 PMAnonymous: Bumi lots opened for non bumi? IJM need to apply for that. In their application, they need to proof that the bumi lots still available after some sales period after official launching (probably 6 months). I doubt they can open the bumi lots just 1 week the soft launch.
May 8, 2008 at 6:43 PMAnonymous: Hi, I am one of the bulk buyer and would like to sell one off my unit. Type C high floor. Anyone interested please leave your number here. I would like to sell for RM 265k
May 8, 2008 at 6:50 PMAnonymous: guys,

10 truths about this blog!

1) There will always be dump site, sewage plant and bad smell at Spring

2) There will always be negative points about Spring!

3) Spring will always achieve strong sales whatever happens

4) The losers who fail to get a unit always find the time to sit down and condemn

5) bulk buyers will always be speculators

6) supporters of spring will always be speculators

7) IJM will always be deemed unethical

8) Spring will always remain the hottest condo property for this year

9) Other condos kena goreng its ok. Spring kena goreng is wrong.

10) This blog's comments will hit over 500 by next week.

-cheers!-
May 8, 2008 at 6:55 PMAnonymous: "Open for registration" means just leave your name with IJM saying that you r interested in that bumi unit. It does not mean Open for Sales.

By the way, I discourage people to register with IJM just yet. All you have to do is keep your ears and eyes open. When the bumi lots are open for sales, just go buy. No registration is needed.

If you register with IJM, they will know that there are demand and will increase the price further.If you do not register, they are unsure of the demand and will not increase the price.
May 8, 2008 at 9:10 PMAnonymous: But if you dont dont register, how are you going to know that they are selling it? By the time u know from friends or other means, same scenario....all sold out

I hope I can get myself a Type E block but chance are too slim
May 8, 2008 at 9:23 PMAnonymous: by the way, did you know that only those who registered were directly informed of the bulk buying session? i bet there are lots of others who would like to buy several units but were not informed.
May 8, 2008 at 10:11 PMAnonymous: hi triz! 298k looks a bit steep. how do u plan to effect a sub-sale before OC given? IJM wont allow ler..
May 8, 2008 at 10:35 PMAnonymous: To sell or buy before OC. Just sign an agreement with the purchaser/buyer and lawyer that you wanna sell/buy at a certain price. And after OC, change name.

You can get to know when the bumi lots are available by checking in this website. Good samaritans tend to post it here. I'm quite sure that many people did not register for the soft launch but get to know about it here and they managed to buy a unit.

Bumi lots are only available 6 months after OC.
May 8, 2008 at 10:44 PMCereal Killa 2011: is dat legal? i mean a separate agreement? will IJM refuse to give consent for subsale after OC obtained? pls advise. i am looking for a unit now.
May 8, 2008 at 11:02 PMAnonymous: sure its legal thats what ppl call sub-sale, selling b4 OC is obtained
May 8, 2008 at 11:27 PMAnonymous: I think is a bit risk. During sub-sale, the owner run away, bankrupt or die, can we still get the unit?
May 9, 2008 at 12:10 AMAnonymous: thats true as well, but worse come to the worse the buyer just lose the opportunity la..nuthin else rite?
May 9, 2008 at 12:16 AMAnonymous: its the same situation as u buy a 2nd hand house/condo
May 9, 2008 at 1:00 AMAnonymous: but of coz the subsale buyer need to place deposit la. if do not honour deal, then forfeited lo.
May 9, 2008 at 8:28 AMAnonymous: I believe that got some of the people pretend ro show their "interested" on The Spring in here even the price is very hight, but the truth is they try to goreng market. Actually they are bulk buyers or those ppl who "pakat" with the bulk buyers. All my friends said that only sutpid ppl will go to buy The Spring with such high price, so i don't think the actual demand is so high. So for those who don't want to listen advise here, let them buy and see what will happen in future, sure they will regret one.
May 9, 2008 at 10:00 AMAnonymous: remember to only place your deposit with the lawyer and NOT with the seller. OK ? This should be quite safe.
May 9, 2008 at 10:35 AMAnonymous: I agreed.Like what I said.. they also playing "seller" & "buyer" role here to goreng the price & also to make ppl believe that the Spring can be sell off with so high price/make ppl believe Spring could be market at high price ... then the individual owner will start to raise their price & the poor buyer who really need a house to stay will start to believe they need to pay such higher price to get it.And end up, the "real" buyer will need to suffer even more with heavy loan+higher inflation+littel increment while the speculators will enjoy their life better with more luxurious toys/life ... Aii ...This is why the rich 1 will become richer & richer & the normal 1 will become poor & poorer ...
May 9, 2008 at 10:59 AMAnonymous: Well, that's business. Big fish eat small fish. Life's just unfair. Bulk buyers also need to earn a living to feed their families. They are just smarter.

Wanna beat them in their own turf? We have just gotta be smarter and not always gramble that the playing field is uneven.
May 9, 2008 at 12:27 PMAnonymous: This is what we try to do. Don't buy the unit from the bulk buyers. They will be defeated will all real buyers work together. he real buyer will still able to get a unit then, probably with cheaper price if we win this battle.
At the same time, it is not the end of the world by failing to get any unit of The Spring, maybe, this is the luckiest thing you ever do by not falling into the game and become victim. Who knows.
Later, people may find out there are better condo around with the same money (or may not. I don't know). And some of the 2nd hand condo have been fully renovated and will be very nice to stay.
I just received a quote from my contractor. 2 stainless steel sliding doors cost 3K plus already. So, after getting The Spring with expensive price, you may still need about 50K to 100K for renovation, as the renovation cost also increased by 20~30%.
May 9, 2008 at 1:23 PMAnonymous: well, i would agree that speculators are out there to gain $$ & they have unfair advantage due to the fact that they have more $$ to start with compared to people like us who really need a place to call our own..

but some of u guys/girls should take the blame for misleading these genuine buyers by posting only negative remarks since the start of this blog. i'm glad tat i took risks by sticking to my guns & get myself a unit..

let's discuss about lawyers, loans and etc instead of putting all the blame on speculators shall we?

my personal opinion:-
it's a fair world based on supply & demand..its that simple to comprehend..

-ciplak @ C14-
May 9, 2008 at 2:10 PMAnonymous: Maybank Dato Kramat, Penang gives the lowest rate. They are willing to go as low as BLR - 2.3% depending on the puchaser's credit standing. All you have to do is ask.

Do not just listen to people that they have hidden cost. Just ask them for yourself and you will be satisfied.

Their contact number is 04-2262627, 2266977, 2262936

That's all I can do to help.

Help me back by letting me know which loan agreement lawyer is the best.

Thanks.
May 9, 2008 at 8:42 PMAnonymous: buy relau vista better, cheap and will have OC soon.. can buy >2 units for 1 unit the spring. haha...
May 9, 2008 at 9:55 PMAnonymous: Price from Relau area of course different from Town area. Don't you know that?
May 9, 2008 at 10:00 PMAnonymous: i am interested in buying a G-1238 & E-1281 sq ft. Kindly contact me at kevinkfkwan@hotmail.com
May 9, 2008 at 10:01 PMAnonymous: For legal firm, please go to the Khoo, Oscar and Loh. Don't go to Ibrahim and Khim as they are very slow in payment and bad service
May 9, 2008 at 10:02 PMAnonymous: The disbursement fee for the S&P is RM190.00. the legal fee will bear by IJM
May 10, 2008 at 1:57 AMAnonymous: I bought few units and would like to sell one unit off. Type C high floor facing bridge, RM265k. Just leave your hp no. if you are interested to buy.
May 10, 2008 at 8:40 AMAnonymous: Hello where is the area relau vista????
May 10, 2008 at 11:59 AMAnonymous: Hi All,to whom that is going to buy as second hand will be a stupid act.FYI,there is a new project coming on from IJM,which is similar to The Spring,nearby Oceonview,why not just take this?it is open for register now.
May 10, 2008 at 12:44 PMAnonymous: hey dude, its a 500 over unit project near the low cost apartment next to ocean view. You have no view except for the jelutong expressway. Open for registration? I think completion will be another 1 1/2 years.
May 10, 2008 at 12:47 PMAnonymous: eh type c bridge facing going for rm265k? u selling at cost ah? i am interested by how to transfer name before OC obtained? IJM dun allow
May 10, 2008 at 2:35 PMAnonymous: I wish to get type G facing bridge. Any owner is willing to transfer?
May 10, 2008 at 4:10 PMAnonymous: transfer? how to transfer?
May 10, 2008 at 4:41 PMAnonymous: sure you are looking for G type facing Pg brige. I've unit to release. Drop the mail contact.

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