Hi.. I bump into the topic of venice hill condo and i m kinda interested in it.. And i hope its not too late to ask. I was planning to buy 1 unit in tower 8 and even paid the 3% deposit. The house was extremely cheap for a full renovated condo with d size of 1500sqt. However, the broker informed me later that bank will not approve the loan for any house from Venice Hill. Any idea whether this news is true?

yes, because if you failed to pay the home loan... the unit will be very hard to LELONG it out...usually bank will approve loan on easy-to-Lelong-units... but i heard from agent last time, they can kau tim with banks as long as we are interested to get one unit of it...

hye everybody,
im one of the owner at venice hill condo. I buy my unit at tower 5, level 3 (because we want see tree from inside-tree level) with 1740sft at RM135k only. It was 2 years ago. And last year, we heard that 1 unit above us with same size was sold at RM150k. How fast it increase??
i admit, when we buy that unit, there still have some issue about transfering management from Venice Hill Cooperation to Rimbun Capital. But now seem like everything going smooth after Rimbun Capital take over.
I used to lived at my venice hill since i buy until last month. Now someone already rent out my unit at RM900 for super fully furnished. Actually, standard price for fully furnished at rm1000 above. But because i need someone to rent out my place, so i have to reduced it alot for attrack new tenant. And in one month, its already taken. Why im rent out? Because now im living in Australia.
Like someone said above, Venice Hill really adoreable to live. Because the air so cool, far away from traffic noisy, management always look after surrounding. It is lovely place.
When i bought 2 years ago, so many empty unit there. But now, seem like it start occupied to new owner. And im pretty sure, once the contruction in front plaza phoenix settle, people will start looking to Venice Hill.

can pls tell more about the contruction in front plaza phoenix whats happening thee ?
why people will start looking to Venice Hill once it's settle ?

because venice hill adalah antara kondo yang dikelilingi bukit bukau tetapi tidak jauh dari pusat bandar. buat masa ini, org di dalam pusat bandar merasakan venice hill jauh sebab terpaksa que lama dlm traffic. Klu dulu org mmg nak avoid dr kwsn cheras-kajang sbb tak nak tempuh traffic yg teruk akibat beberapa construction yang ada between kl town n kajang. tapi since kerja pelebaran jalan telah di buat didepan taman miharja, seem like traffic more fast accept depan plaza phoenix. venice Hill menjanjikan persekitaran yang mendamaikan dan sgt sesuai bg org yang balik kerja, sampai rumah je, dapat hirup udara segar n sejuk, dan jauh dr bunyi traffic. So once construction dpan plaza phoenic settle, perjalanan dr kondo ke pusat bandar akan hanya mengambil masa sekitar 15-20min jika hendak dibandingkan dengan skrg.

Hi, was just wondering if there is anyone else living in this venice hill that could provide more feedback?

@Dum_Dam
Did you manage to process you loan now? Cause if the bank wont b approving loan for this property then I will have to take this option out..

Thanks.

Hi alixi.. i didnt continue with my purchasing as the agent advised me not to. He said that in case banks really reject my loan, then my deposit will be gone. So.. at the end we did not proceed with it.. Too bad, I really like that house very much. Sigh..

usually, you can ask the agent get pre-approve loan application ... that's mean, after the loan approve only pay deposit and remaining sum (i think depends the power of the agent ... kekeke )

Didnt know about the pre-approve loan application" but I reckon Dum_Dam can give it a try. I'll try to ask some agent as well.

Btw, may I know the condition of that road in the morning.. extreme jam? How long would it take to travel to Puchong from Venice hill?

May i know what is the procedure if i straight away buy the house from the owner?

i use to travel from venice hill to ukm bangi for 30min by bike. at the morning, peak traffic is between 7.15-8.30. So need go out early if you want go work. its not just venice hill resident problem only. everybody in KL face the same problem....

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Added on September 5, 2009, 3:06 pmJust for update about venice Hill. Now Venice Hill just got strata title after more than 10 years they waiting for. So i pretty sure after this, all negative info about this condo should be fix then.

This post has been edited by nafham: Sep 5 2009, 03:06 PM

thanks for all the reply.

i got 1 unit venice hill coming up for sale/rent next month. kindly pM for more info.



This post has been edited by blasto: Sep 25 2009, 06:30 PM

May I know that the security environment in Venice Hill? Is there a lot of Afican living there?

http://www.skyscrapercity.com/showthread.php?t=400909&page=7


Check out that link, their talking about some of the problems in venice hill, a thread started by one of the owners there. Management a lot of problems apparently, parasite management but cannot get rid of them.

I cant validate this but someone once told me that this Venice Hill got potential landslide issue, hence explains the price now and why banks wont finance.

Therefore prospective buyers, pls do your own dueD before comitting.......

yeah, there is alot african there but they never disturbing people around. they also friendly.

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Added on September 5, 2009, 3:06 pmJust for update about venice Hill. Now Venice Hill just got strata title after more than 10 years they waiting for. So i pretty sure after this, all negative info about this condo should be fix then.

[/quote]


Hi, whats the meaning of strata? sorry im a newbie..thanks

Did some asking around..The rental is about 650~700 for a 1.5k sq condo, it's selling anywhere between 94k to 150k.. depending on who u ask. I called up one of the numbers hanging in the dozens of for sale condo's and the real estate agent tried to quote me 180k for the condo, then revised it and said its 108k actually.

The environment in Venice Hill is top notch, it's like a resort place. But the condition of the condominiums is beyond horrible, each block has paint peeling and certain parts the plaster have fallen off. According to management the occupancy rate is less than 50%. The buyers are mostly investors, and it looks like most of them are Singaporeans, not many people staying there, and a lot of.... funny individuals, and a lot of black people there as well.

There is no bus service there, if u want to stay there u need to have a car. I'm not so sure about the security of the area as well, since there seems to be a lot of funny people hanging around.

One thing that I haven't heard about from most people, the maintenance cost is 30 cents per square feet, that is RM450 per month, which is incredibly expensive, even by KL standards. The management has not maintained the the condo's at all, so im not sure why their charging such a high fee. Their so dilapidated it looks kind of like it's abandoned.




After looking around that area...

For staying
1) Low occupancy, a lot of funny people around the area. The first thing I felt when I was there was that it wasn't a safe place.

For investment
1) 30 year loan 120k price, 10% downpayment. Your monthly installments is 570 + maintenance fee 450+. each month you lose about 300 if u can rent it out.
2)Occupancy is dead, less than 50%. How are u going to rent it out?



EDIT: just for the record this was about 2~3 weeks ago. So it's the latest information.

This post has been edited by flight: Nov 15 2009, 01:03 AM

Is Venice Hill condo freehold or leasthold ?
Anyone interested ? i got 1 unit letting go cheap soon.

Hi all, im considering to buy a condo myself as well and has receive a call from an agent for venice hill 1538sft,Blck 10
4/3 bath ,Fully furnished by ID designer Chinese Owner ... so what do you all think ? beside that i've also seen bukit panda 2 which is Rm138,000.00 unfurnished and RM 168,000 for furnished but the kitchen is super small just a little bigger then a lift only.

I'm actually looking for a place in Cheras preferably freehold and near by lrt about 5 to 10 min drive, my budget is rm150K and the environment must be good. any recommendations ? the place is for own stay with my girlfriend.

t ar cicius@gmail.com