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.

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