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> venice hill condo or fortuna court?, need ur suggestion and comment (Investment)

adilee
post Jun 20 2009, 01:13 PM


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Hi,i'm new in property investment. I'm looking for a condo for rent out for investment and maybe own stay after few years. Can anyone pls give comment on Venice Hill Condo at Cheras and Fortuna Court at OUG? Which is more suitable for investment and easyly rent out? My budget is about RM150k only. Hoefully can make a correct investment lo. Anyone kindly give some opinion?
I saw a unit at Venice RM150k, while Fortuna is about RM160k. The price is much different but how about the rental and future value? I check from internet, both Venice Hill and Fortuna can rent up to RM1000,is it real??? Is there any other issue i should look into? Hope all can guide me o give some opinion. Thanks..

This post has been edited by adilee: Jun 20 2009, 01:32 PM
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alexis_wll
post Jun 20 2009, 06:25 PM


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venice hill condo to be frank only can be buy for own stay. it has no resale value at all. there's many positive reason for staying but not for investment. still a lot of units are empty / un-rented. if for own stay, it's a great place.
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adilee
post Jun 20 2009, 11:03 PM


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alexis_wll,thanks...means is quite hard to rent out for that area? Do you have any suggestion for investment? but my budget not much...
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alexis_wll
post Jun 21 2009, 02:05 AM


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not much suggestion . maybe nearer to kl area like nearby colleges / universities ... you may seek advice from realty agent / friends...
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Putraskyline
post Jun 21 2009, 10:53 AM


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Yes true that Fortuna Court Fully Furnish with Aircond can rent up to 1.1k. Note that FC maintenance fee is 20sen/sqt.

This post has been edited by Putraskyline: Jun 21 2009, 11:06 AM
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adilee
post Jun 21 2009, 11:39 PM


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QUOTE(Putraskyline @ Jun 21 2009, 10:53 AM)
Yes true that Fortuna Court Fully Furnish with Aircond can rent up to 1.1k. Note that FC maintenance fee is 20sen/sqt.
*
so,actually is good for rent o not? sad.gif easy to rent out? if buying for renting out,any other suggestion? but my budget is only less than RM150k..
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Syd G
post Jun 21 2009, 11:47 PM


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There's a reason why Venice Hill is 150k when the sqf is pretty huge wink.gif

Try Ketumbar Heights, 750psf with RM600 rent, price around RM110-120k. Maintenance less than RM100/month
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adilee
post Jun 22 2009, 12:58 AM


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QUOTE(Syd G @ Jun 21 2009, 11:47 PM)
There's a reason why Venice Hill is 150k when the sqf is pretty huge wink.gif

Try Ketumbar Heights, 750psf with RM600 rent, price around RM110-120k. Maintenance less than RM100/month
*
Sorry, can u kindly tell me wat is the reason Venice Hill can get so huge sqf? Ketumbar Heights? I'll try check for it...Thanks...But by the way, Venice Hill really can rent out at RM1k?
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aramis888
post Jun 22 2009, 11:05 AM


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QUOTE(adilee @ Jun 22 2009, 12:58 AM)
Sorry, can u kindly tell me wat is the reason Venice Hill can get so huge sqf? Ketumbar Heights? I'll try check for it...Thanks...But by the way, Venice Hill really can rent out at RM1k?
*
Just avoid it for investment purpose.

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babana
post Jun 22 2009, 11:18 AM


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since ur budget is kinda tight, prob u might wanna consider saving more 1st before hopping onto the property investment bandwagon. am not familiar with the 2 properties u mentioned but from the looks of fellow forumners, both of them dont really seem to be investment grade properties here.

do bear in mind that properties within the range of RM100k+ cater for a diff group of tenants, which might have a higher probability of payment probs. but then again, not to say those who can afford higher rent would be good paymasters. still boils down to ur tenant selection and scrutinisation.
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aramis888
post Jun 22 2009, 11:27 AM


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adilee,

why dont you target those apartment in Shah Alam, around sec 26/27? Most of them are rented out to the workers of the big companies there.

What the companies usually do is to take up 20-30 units and they give it to their workers to stay.

I used to owned one there, got it very cheap, around 81k and rented out for RM600. You dont need to worry about payment coz the company will pay you directly. You also dont have to worry about fixing up things as they have their own maintenance guy. smile.gif

When I sold it off recently, they even clean up the place before handling it back to me. ;-)

This post has been edited by aramis888: Jun 22 2009, 11:28 AM
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adilee
post Jun 23 2009, 11:35 PM


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QUOTE(aramis888 @ Jun 22 2009, 11:27 AM)
adilee,

why dont you target those apartment in Shah Alam, around sec 26/27? Most of them are rented out to the workers of the big companies there.

What the companies usually do is to take up 20-30 units and they give it to their workers to stay.

I used to owned one there, got it very cheap, around 81k and rented out for RM600. You dont need to worry about payment coz the company will pay you directly. You also dont have to worry about fixing up things as they have their own maintenance guy. smile.gif

When I sold it off recently, they even clean up the place before handling it back to me. ;-)
*
Actually i'm working in Shah Alam as well...really can rent with good price? cos most of them tell me target the UiTM student..but i not prefer to rent to student... sad.gif
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blasto
post Jun 23 2009, 11:52 PM


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QUOTE(alexis_wll @ Jun 20 2009, 06:25 PM)
venice hill condo to be frank only can be buy for own stay. it has no resale value at all. there's many positive reason for staying but not for investment. still a lot of units are empty / un-rented. if for own stay, it's a great place.
*
true, i rent out last time to people, now empty. what happen to the demand there ?
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alexis_wll
post Jun 25 2009, 02:11 PM


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cause near Econsave there's new flats just got their keys ... the demand will drop since the flat rent out lower price compared to venice hill... as i heard agents are taking them for rm400 a month for at least 80 units for students stay... compared to venice hill might fetch about at least rm750 fully furnish, they might choose cheaper alternative ( personally i love venice hill those front towers like 1-6 )

remember, some agent might cheat you for ketumbar height and ketumbar hill, both condo and flat side by side... if investment, i'm not sure whether fetch a good price since i get in there only able to look at the car parks... i heard the swimming pool is nice, but i'm not resident so just round round at the car at parking...i forgot which one also have the CF issue, hope it's ok already la

last time been survey many condo /houses with less than 200k budget for loan ,and regret bought a new property... i still prefer lagenda mas but that time the agent look down on us... after paid and sign snp for under construction property only call back ask whether i'm still interested or not ( in my heart , yes yes yes! , but too late lo ...)

i think you may increase your budget a little, at least can get slightly better property in terms of investment... i know i'm not much help here but from my experience for searching house more than 1 year, 200k is not really enough for investment even i'm only look for own stay

This post has been edited by alexis_wll: Jun 25 2009, 02:13 PM
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adilee
post Jun 25 2009, 11:25 PM


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QUOTE(alexis_wll @ Jun 25 2009, 02:11 PM)
cause near Econsave there's new flats just got their keys ... the demand will drop since the flat rent out lower price compared to venice hill... as i heard agents are taking them for rm400 a month for at least 80 units for students stay... compared to venice hill might fetch about at least rm750 fully furnish, they might choose cheaper alternative ( personally i love venice hill those front towers like 1-6 )

remember, some agent might cheat you for ketumbar height and ketumbar hill, both condo and flat side by side... if investment, i'm not sure whether fetch a good price since i get in there only able to look at the car parks... i heard the swimming pool is nice, but i'm not  resident so just round round at the car at parking...i forgot which one also have the CF issue, hope it's ok already la

last time been survey many condo /houses with less than 200k budget for loan ,and regret bought a new property... i still prefer lagenda mas but that time the agent look down on us... after paid and sign snp for under construction property only call back ask whether i'm still interested or not ( in my heart , yes yes yes! , but too late lo ...)

i think you may increase your budget a little, at least can get slightly better property in terms of investment... i know i'm not much help here but from my experience for searching house more than 1 year, 200k is not really enough for investment even i'm only look for own stay
*
thanks alexis_wll,then in the end, where u buy ur house? any suggestion if i'm planning to buy for investment (like collect rental)? blush.gif
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alexis_wll
post Jun 26 2009, 08:44 PM


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that's why i say regret,don't ask me where my gf buy lo. for investment, i think you better buy nearby college/ universities but the property nearby super expensive... i think as other forumer said, shah alam is quite ok, i heard malay friends said she rent master room for rm500 (i think expensive la, in kl i rent middle room only rm300) ... she said her house near stadium,quite many projects at shah alam but i can't recommend any

another one that i wish to buy in the future is miharja condo, last time i search around got about rm115k for a unit,auction properties might be around 100k, i stayed there before in a unit above management office, for my stay i feel quite safe last time. rent out i think can fetch at least rm800 one unit...now swimming pool is ok already,maybe property value been fetch up...

if you know which developer going to launch some projects before launching... my fren's mother bought few units about 140k, when under construction it increase to 170k, sold some of it, after completed the property become at least 220k... i think it's depends on your luck and analysis...

search slowly,don't rush ah

This post has been edited by alexis_wll: Jun 26 2009, 08:44 PM
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adilee
post Jun 27 2009, 12:14 AM


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QUOTE(alexis_wll @ Jun 26 2009, 08:44 PM)
that's why i say regret,don't ask me where my gf buy lo. for investment, i think you better buy nearby college/ universities but the property nearby super expensive... i think as other forumer said, shah alam is quite ok, i heard malay friends said she rent master room for rm500 (i think expensive la, in kl i rent middle room only rm300) ... she said her house near stadium,quite many projects at shah alam but i can't recommend any

another one that i wish to buy in the future is miharja condo, last time i search around got about rm115k for a unit,auction properties might be around 100k, i stayed there  before in a unit above management office, for my stay i feel quite safe last time. rent out i think can fetch at least rm800 one unit...now swimming pool is ok already,maybe property value been fetch up...

if you know which developer going to launch some projects before launching... my fren's mother bought few units about 140k, when under construction it increase to 170k, sold some of it, after completed the property become at least 220k... i think it's depends on your luck and analysis...

search slowly,don't rush ah
*
Thanks a lot...really...i learn a lot from u... smile.gif
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Chester
post Jun 27 2009, 01:39 PM


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any reason why venice hill is cheap?
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alexis_wll
post Jun 28 2009, 06:43 PM


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it's not cheap last time cause venice hill was used as a resort for the golf player...many singaporean and investers bought the units and reno it for rent... i'd step inside one of the unit, i like it... but the only thing is mother dislike that got people stay before... give up the hope...

(i viewed t night, the place is cold and quiet, with many lights and trees to view... the rubbish area is super clean, the lifts very clean... the only annoying thing is disturbed by black people everywhere i go(not venice hill la, scare m)... the facilities i feel it's alright, but never see before.. i heard got gym, swimming pools, i saw playgrounds quite clean,sometimes with puppies running around very cute... their security also quite ok, visitors cars with big big sign but IC they keep it lo

thereafter, when the developer building more towers, they didn't submit the plan to the authorities.. hence at first no CF for the last few towers... considered as abandon projects even already complete about 60-80% ... if not mistaken there's penalty of at least RM300k to pay before approve for CF but developer ignore it

from years to years, the owners and pro-term committees writing letters, do their job, submit a lot of things as required and finally get most (NOT ALL) CF for their units... some are trying to sell the units and mostly rent to masterskill students and black peoples...

you can see the shoplots between tower 9 and tower 10, no one inside except drug addicts, every shop with all broken windows,missing wiring... because they build illegally, and sell to people, no electricity/water supply to them. they can't sell it too, no CF,suppose to be torn down and rebuild... cause they try to apply with paying penalties but can't...

slowly, maybe they(developer) don't know how to manage money gua... sell the land and everything... they from high reputable developer become down to drain de developer... very sad

but i see one project under same developer, which is exactly beside sunway cheras 3 storey entrance... before sunway cheras completed they already show the signboards want to build houses and a lot of pipes there until now there's no progress at all...
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Chester
post Jun 28 2009, 09:25 PM


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like that can buy? 1700sq++ for 160k is really a steal, but with so many niggas sweat.gif


Added on June 28, 2009, 9:26 pmbtw, alexis..since u do so many research, got any condp/landed place about 200k to buy? will be my 1st house and for own stay..i've been looking around, so far cheras is the most affordable area to me tongue.gif

This post has been edited by Chester: Jun 28 2009, 09:26 PM
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Dum_Dam
post Jul 5 2009, 09:56 PM


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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?
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alexis_wll
post Jul 21 2009, 08:52 PM


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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...
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nafham
post Jul 22 2009, 11:47 AM


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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.

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blasto
post Jul 22 2009, 12:14 PM


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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 ?
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nafham
post Jul 22 2009, 06:58 PM


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QUOTE(blasto @ Jul 22 2009, 12:14 PM)
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. biggrin.gif
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alixi
post Aug 5 2009, 01:38 PM


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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.
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Dum_Dam
post Aug 12 2009, 10:18 AM


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QUOTE(alixi @ Aug 5 2009, 02:38 PM)
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..
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alexis_wll
post Aug 12 2009, 09:46 PM


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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 )
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alixi
post Aug 13 2009, 12:02 PM


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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?
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aliciaqsp
post Aug 13 2009, 12:04 PM


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May i know what is the procedure if i straight away buy the house from the owner?
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nafham
post Aug 13 2009, 06:10 PM


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QUOTE(alixi @ Aug 13 2009, 12:02 PM)
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?
*
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....


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
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blasto
post Sep 17 2009, 11:32 AM


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thanks for all the reply.

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



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einvest88
post Oct 10 2009, 01:22 PM


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May I know that the security environment in Venice Hill? Is there a lot of Afican living there?
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flight
post Oct 10 2009, 03:27 PM


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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.
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Pai
post Oct 10 2009, 05:18 PM


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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.......

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nafham
post Oct 18 2009, 02:21 PM


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QUOTE(einvest88 @ Oct 10 2009, 01:22 PM)
May I know that the security environment in Venice Hill? Is there a lot of Afican living there?
*
yeah, there is alot african there but they never disturbing people around. they also friendly.
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zzchieko
post Nov 8 2009, 08:41 PM


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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
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flight
post Nov 15 2009, 12:56 AM


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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
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blasto
post Nov 20 2009, 01:04 PM


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Is Venice Hill condo freehold or leasthold ?
Anyone interested ? i got 1 unit letting go cheap soon. icon_rolleyes.gif
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lokideangelus
post Nov 23 2009, 11:44 AM


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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

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ngtheankhee
post Nov 24 2009, 07:48 AM


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QUOTE(nafham @ Aug 13 2009, 06:10 PM)
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....


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.
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i have interest ur venice hill . can u contact me 0125133158 OR kheetechnology@yahoo.com . thks me not agent .
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HaoHao2986
post Feb 24 2012, 01:01 AM


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Hey, just wanna know if there is any Venice Hill resident here. Would like to know more information about the condo. The place looks nice in the picture and is so so cheap for such a big condo, even penthouse.

Please give me some feedback about the place.
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limtk55
post Feb 25 2012, 12:25 PM


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I am the owner of a unit in Venice Hill and looking for a buyer.

Anyone interested can either PM me or email (faster) at limtk55@hotmail.com.
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Cute Devil666
post Jun 21 2012, 04:32 PM


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Hi there, I am looking to buy a property particularly at Venice Hill, anyone selling? my budget is 180k as the bank told me.
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avatarofwill
post Aug 21 2012, 03:55 PM


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Hello, I'm eyeing Venice Hill for stay..before this my uncle rented there and stayed there a few weeks..about 2-3 years ago i think..that time its soo quite like no one is staying there ..so how is it now?
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nologic
post Aug 22 2012, 01:15 AM


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Hi, it's still peaceful & quiet. Downside is that it has steady flow of African tenants but really not as much as other condos of the same price range. It's the same as i tell a forumer here a few days ago that the remote location of VH & lack of amenities around the area will inconvinience anyone without a car or other forms of transportation. The walk up the hill it's really exhausting. I stay in tower 8. Have a nice day.
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efisherman
post Oct 17 2012, 06:52 PM


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Hi nologic, can i know how was the building maintenance there?
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nologic
post Oct 17 2012, 08:09 PM


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QUOTE(efisherman @ Oct 17 2012, 06:52 PM)
Hi nologic, can i know how was the building maintenance there?
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Honestly, could be better. Just basic maintanace only, nothing to shout about, sometimes even lacking. Maintance fee is only Rm0.14 per sq ft so couldnt compare with those mid range condo that's charging at least Rm0.20-0.25 per sq ft. High end condo even charges Rm0.35-0.55 per sq ft. But could still do better if they try. To those who are keen of buying, buy only if you are comfortable with the price. If for Rm180k you could get a far more better condo in klang valley, then you shouldnt be looking at Venice Hill. This is my honest opinion.
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