I am interested to buy a unit in A block, high floor facing Jalan Ipoh, if anyone selling please let me know the best price etc.

Thanks,

Wait for VP..by then price will be going down further. all 1000 units will be on sale by that time!!

Good question!!

If to rent...100% sure it will be harder as you have to compete with 1000 other owners/units and also the other condominiums in jalan ipoh. Due to this rental will not fetch more than RM 1500/- per unit. Thats also depends with your ability to find a tenant in time.


For own stay- think twice!!
Do you prefer to stay with students, budget tenants ? will you have a good privacy ?
This whole unit will be flooded with students, middle eastern and other budget oriented tenants.

Upto you. there are much more better condos in surround for own stay with a good life style. example The Tamarind , Maple etc

Just my thought. No offense.ok.

No way, this condo will take years to reach 500k price levels. just to remind, this condo was sold 225k for the initial buyers and now they ask 400-450k after 3 years which I believe is expensive and not worth for investment wise.
You can get more better choices around the corner for 480-500k levels. example - The Saffron, The Tamarind

It took Saffron 3 years to reach 400k levels. and now only on 4th year it is going for 450-500k levels. Thats also bcos Capers was announced for 600psqft. Saffron is from a well reputed developer with a master plan development in hand. still it took 3-4 years to appreciate.
Take Viva and River City as another example..still after 2 years of vacant possession - it is struggling to reach even 400k levels. but as soon as VP was out I saw some owners were asking 450k. It was just the artificial hype. Later price got stabilized.

Then what about Titiwanngsa Sentral ?

This is just the artificial hype period for TS, wait for a while..sure Titiwangsa owners will hard to compete their selling with each other ( 1000 owners! ) and the price will drop below 400k levels.

Upto you, you decide. It is your money.

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Added on June 4, 2011, 1:37 amOf-cause, those condos are for better lifestyle and for a better living environment. you have to pay the price for that. Tamarind and Maple are good for own stay with a class, not TS.
There is no way you can compare TS with Sentul east/West projects.

This post has been edited by priyangaf: Jun 7 2011, 02:42 AM

Bro, Please rechk- there are 3 blocks, each block 38 floors!!! that means 396 units in one block, and the total is 1188 units.

Bro, in my opinion, RM 1500 is a descent rental for a 1000sqft unit when you compared with condos nearby. You shd be happy!!

In my calculations, a initial buyer have to pay only RM 1000+/- per month as the mortgage. so giving for RM 1500 you still got 500 +/- profit which is really good ROI.

Just my opinion.

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Added on August 16, 2011, 3:48 pmThis is normal in all the condo's nowadays. lot of defects. may be developers are using cheap materials to gain more profits.

This post has been edited by priyangaf: Aug 16 2011, 03:48 PM

Oh yes, sorry.
lets say RM 125 p/m for the agent and 275 p/m for the maintenance....it is RM 400/-p/m which is still ok consider you can cover up the mortgage and another RM 100/- in hand too. may be you can use it for fire insurance and assessment fee etc. Not bad!! Headache free ownership.

Renovation cost- yes it is another story..no owner can cover that cost with the rental unless you target the capital appreciation of the property
No doubt this is a good property bcos you can cover the mortgage comfortably by giving for RM 1500/- p/m.

I have some condos with YTL and really hard to cover up the mortgage. But I am not the initial buyer..brought from subsales.

Everywhere seems initial buyer is a winner.

This post has been edited by priyangaf: Aug 16 2011, 04:32 PM

400K??..come on, saw some owners are asking 500-550k also..hehehehehe.

lets do a small calculation.

If you buy for 450k, you need another 30k for SNP, stamp and lawyer fees and another 20k for simple renovation which makes the total value 500k.
For 500K mortgage, monthly installment is RM 2100/-. then you have to add up another RM 400 p/m for agent fees and maintenance.
So quit rent, fire insurance and assessment fees needs to bear separately. it is another RM 100 p/m.

So total you need to cover RM 2500/- pm

Now the question is ..can you rent TS for RM 2500 range?? ( bear in mind you are expecting this rent price by only doing basic renovation of 20k, so will a tenant pay RM 2500/- pm for a such unit ?) Even good properties of YTL (Saffron ) do not fetch RM 2500/- pm

Okay, If you rent TS for RM 1500...every month you have to pump RM 1000/- to cover the mortgage.... and where is the profit??
Ok, waiting 1year - 2 years ?? 3 years?? property is getting older and price appreciation will be on halt one day. by then tenants will move to new condominiums in town and rent start falling.
For 3 years you have to pump 36k just to cover the difference in rental to pay off the mortgage.

So be careful, subsale owner has to rent for atleast RM 2500/- to breathe peacefully. ... in my opinion there are plenty of choices around for RM 2500 range.

Going further, after 3 years you need to sell atleast 600k for breakeven. if you sell for 700k, you have a profit of 100k after 3 years. hmm.. will it be 700per sqft in this area by then?
Reminding here, TS has more than 600 units, so lot of competition for you to sell a unit for 700k range in another 3 years. There is competition from outside and also from inside TS owners.

And........ after all doing all these doings for 3 years to earn just 100k? managing tenants for 3 years is a nightmare and earning 100k after 3 years cannot justify the efforts you put in.

So think twice before buying from sub-sales, or presurize the initial owners to sell for lower price. tell them they brought the property for 250-300k range and cannot ask 450k-500K withing 2 yrs just becos there is a LRT next to it.

This post has been edited by priyangaf: Aug 16 2011, 05:35 PM

Bro, in my opinion a person who uses LRT to commute will never ever have a budget of 3k level for his housing. your targeted tenants in TS are students and young working personals. do you think they can afford RM 3000 pm?

To pay RM 3000 for rental one should atleast earn RM 9000 -10000 monthly income. Thats the salaries of the expats in Malaysia and I don't think expats will select TS in chow kit for their own stay. Still if they want to stay in this area for any other reason they have many luxurious projects next door. Tamarind, Maple etc or further away they have 100's of MK properties. I am in this business for past 5 years. So I know what I am speaking. these are all my findings.

Expat will look who are the other tenants in the building before they move in, in this case TS will be full of students and young working personals, and may be some middle eastern families too.
Will expats join with them for own stay??
So if you target expats for TS, it is a no go.
In fact no one will like to mingle and stay with noisy students and young working crowd. So for expats defiantly a no go.

Expats will look the area and surrounding too. they do not want nearby LRT's or mamak stalls. They look for their community , high living standards, good amenities and shopping. Thats why lot of expats are moving to Maple, Tamarind and MK nowadays.

Your targeted tenants for TS are students and young working crowd. Just imagine 600+ units full of those crowd...building maintenance will drop dramatically and in long run TS will be another villa putra / puteri with RM 1500 budgeted tenants.


Anyways do let us know your rented price in TS.
Good luck to you.

This post has been edited by priyangaf: Aug 17 2011, 10:35 AM

Bro, to clarify..I am an investor and a foreigner. Over the spam of last 5 years hv brought nearly 10 properties in town for investment and now I am breaking my head to find tenants.

Anyways..leave that apart, to answer your question, yes I can give so many examples for below 2k for a f/f 3 bedder units in town.
Take nearby Viva, Putra majestic, River city, all these condo's fetch very low rentals. I have a known owner in River city..for the past 5-6 months he is searching for a tenant for 2k range.
If you go further away from TS, you will find villa putra , villa puteri and Bistari near PWTC which rented for loads of students and middle eastern families for 1.5k range. those condo's are like hostels now!

bro, to fetch 3k...it is really impossible for low/mid end condo's nowadays ,specially high density condos like TS.
Only high end / luxury condominium's fetch can 3k and above. even Saffron fetching around 2k range.

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Added on August 17, 2011, 10:01 amBro, thats right. you have to rent TS either to a student or a middle eastern family. senior office staff or expats wont attract to TS. we all knew this even before investing , right?

Now the question is how much a student can pay pm as rental....and how much rental middle eastern people can afford. and the building maintenance.
middle eastern families have atleast 5-6 persons in their families. and atleast 6 students will stay in one unit.

so..600+ units with each unit 6 persons, it is 3600 people going to live in TS when fully occupied.

The crowd is more than a school/hostel and maintaining the common areas will have a difficult time. and again with all these setbacks it will leave for low rental prices in future. and when you want to sell your property..the nightmare comes. Do investors like to buy hostels??

This post has been edited by priyangaf: Aug 17 2011, 10:11 AM

Thanks, finally atleast someone agrees with me.
Regard to the luck part, yes you are correct. all depends with the luck you carry. if you are lucky you will find good tenants who can pay you more. if you are lucky you can sell your property for a higher price.

Lets hope everyday is a lucky day for our TS owners here!!

Bro, M Sentral is a different segment than TS. so cannot compare.
It is like we are comparing Maple and Viva. Can Viva fetch a higher price just bcos sitting infront of Maple? No, right?

I think this is the best time for TS sales. sell for 400k range. still you got 150k profit.
In near future TS will have stiff competition with other high end condos around the corner. See Capers, Setia Sky, Vue, M Sentral, mulberry and Fennel going to come up and it is stiff competition for TS.
Can TS survive with all these high end condos?

Just my thought.

This post has been edited by priyangaf: Aug 17 2011, 11:41 AM

bro, mind sharing the defects you found?

bit? hahaha
come on..how you can get 3k for a 1000sqft bedroom.

tenants are getting spoiled with lot of options they have nowadays.
KLCC is almost empty, Bukit Bingtang is dry, MK is a ghost city...even in award winning properties like Maple, it is hard to find a tenant for 3k range.
So you decide.

This post has been edited by priyangaf: Aug 17 2011, 03:45 PM

Bro, I understand all above properties are near by to LRT stations. but do you know the present rental prices?

We were talking about potential rental prices at TS. So need those condo's present rental prices to verify whether your thoughts are valid.

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Added on August 17, 2011, 4:56 pmhmm..*wink*

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Added on August 17, 2011, 5:00 pmwhy you are worried about my one sentence ?
If you like TS, grab it. don't like leave it. simple.

everyone knows that people do not go by forumer's comments and buy or sellout their properties. we were discussing about TS potentials. so wanted to compare few of the other condo's here and there. that's it.

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Added on August 17, 2011, 5:01 pmbig big luck!!

This post has been edited by priyangaf: Aug 17 2011, 05:01 PM

Bro, all these are advertised prices. we all know tenants bargain a lot and the final price differs a lot from the advertised price. few of my friends are staying in villa puteri and villa putra and thats how I told you the actual rented prices. People can advertise whatever the price, but end of the day there shd be some one to grab it for that price. i have seen some people advertising the same unit for more than 2-3 months.

Anyways you cannot compare PWTC's location with TS location. even though both the condo's are near by LRT stations, still the PWTC location plays a major role bro. location is everything. it is not relevant to compare the other condo's in town nearby a LRT with TS. TS is TS and Villa Putra is Villa Putra! axis is axis and so on. each project is different.
This is the reason I compared TS with nearby VIVA, river city, putra majestic etc to get a clear picture. Nowadays all these nearby condos fetch very low rental rates bro.

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Added on August 18, 2011, 8:28 ami think those are common defects in all most all the projects nowadays..anyways it is nice to see you have purchased a high floor unit. it is easy for you to find a tenant. congrats.

This post has been edited by priyangaf: Aug 18 2011, 08:28 AM

Bro, again i don't agree much with your comments. TS is TS and M sentral is M sentral. each project is different.
Have you seen Viva prices shooting up just becos Maple is in next door? Maple is Maple and Viva is viva. the best example i can give you around the corber is Tamarind vs Saffron. even though these two condo's are next to each other...Saffron didnt help to increase Tamarind prices. Tamarind got appreciated becos of it's uniqueness.

Same with TS, TS wont appreciate much just becos of M sentral is next door. and Orion wont appreciate just bcos Setia Sky is next to it.
anyways i understand no one can predict the future..we all have to wait and see. and what i wrote here is my belief.

This post has been edited by priyangaf: Aug 18 2011, 10:13 AM

Agree.

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Added on August 19, 2011, 12:03 pmBro Pai and Minolta,

You are so mistaken…I never told TS is a bad development or never had condemned TS in any form. Indeed it is a good development. Otherwise how sub-sales can fetch 150-200k range profits?

I am saying it again. TS is well designed mid-range condominium to suit rental market for young workers in the area. but not with the rental price range present owners are expecting. considering KL young workers’ salaries there is no possibility that they can afford 3K as rentals.

TS it is surrounded by cheaper apartments and condominiums and it's high density factor will spoil the tenants choice and price. also the LRT noise is a big setback. And the appearance is not that modern façade as other projects around the corner. These factors will also effect for its reselling price.

That’s why I stated in long run maintenance of the building will have difficulties. how can a condo can manage 3000+ tenants ? common area’s and lifts will have problems.
With lot of new developments are coming up, buyers will also be spoiled. So it may difficult to have 200k range profits by then. That’s why even I recommended to sell TS now with 200k profits. i took an example of MK and KLCC apartments.. lot of units are vacant and empty and owners are struggling to sell out even with 50k profit margin..

Yes, I was keen in buying a unit in TS , but it was well before I invested in few other properties. However even at that time after negotiating I found a unit for 350k range, but since VP was not out I thought of not getting it . end of the day I am an investor and I don't listen to any bullish things. I go by my mind.

Bro Pai, reminding you..you are the one who told you can get 3k rentals in TS. And I had to give examples from other projects around the corner to tell you that 3K is not possible for TS. I didn’t not agree that just becos a condo is lying next to a LRT station..it can fetch good rentals. New LRT’s and MRT’s going to come up soon and the train tracks will cover most of the condo’s in town in near future. So..then you think rentals will go up?? Come on…lot of vacant condominium units are in town and tenants are getting spoiled day by day. Sooner or later rental prices will stabilize.

And regard to Tamarind, Saffron and Maple scenario, it is a new township called sentul east and west developed by a well reputable developer and planning to develop with lot of infrastructural things and offices, entertainment , recreational and transport facilities etc.
So when there is a new addition to its township, like Capers, D6, D7 the price boomed up on its other projects. You have to understand this is a YTL township and is entirely different from TS. Sentul has more to give..D3, D5, Fennel, Mulbery and so on and owners can expect the price appreciation of the entire project will be in good levels.
To tell you the truth, yes I have invested some units in this project. and also some other projects with few other developers and but overall i am happy how YTL is transforming the area.

TS is sitting alone near to the LRT and no township concept or what so ever is there. so TS can be marketed sorely on its uniqueness only. as pointed out TS is same range like Viva, Putra Majestic and River City. all these condo's will not get the benefit to sell higher just bcos of Sentul East /West near by and same for TS with M sentral. The uniqueness of the condo counts. the marketability factor counts, developer reputation counts and so on.

Ask your self what's the selling point of TS? if you say.. LRT!!! you are mistaken bro. This is what I wanted to tell you. My advice, don't count too much sorely on LRT.

Hope this clarifies my standing and lot of forumers will agree with my understanding. cheers all.

This post has been edited by priyangaf: Aug 19 2011, 01:02 PM

zavier98, your understanding and mine is same. I am happy atleast someone agrees with me. cheers.