Purchasers of Covillea:

1) Koreans [18 units: Block B - Entire Levels 9 & 19] - (B-9-01 to 09) & (B-19-01 to 09)
2) Kamalesh (B-15-3A)
3) Covillea (A-?-?): selling at RM850k upon VP - interested parties to PM.
4) kochin (B-23A-?)
5) korndamned (A-8-?)
6) hunters (B-6-?)
7) mok thye yee (B-12-6)
8) marcohoo (B-23-?)
9) danlim (B-?-?)
10) joe tham (A-10-?)
11) dumbshy (B-?-?)
12) weelong81
13) jiin
14) samau
15) coolfeet
16) KennyChoong
17) nkhong (A-23A-?)
18) grhunter
19) JT (A-12-?)
20) JackIII (B-?-01): selling at RM850k upon VP - interested parties to PM.
21) tay (A-10-?)
22) scrybe (A-18-?)

Current Valuation for Covillea: RM600 per sq ft only.

with many other choice for a condo in bukit jalil, is covillea able to survive with 600 per sqft in future? the price is simply too high...

but those who bought cheap few years back is earning now...

KM1 is currently at 512 per sqft (well plan layout than covillea)

Z residence at 410 per sqft (very innovative design, with their floating garden, neighbours a bit mix there)

Savanna 2 which is just in front of covillea advertise for 550 per sqft but haven't heard any such transaction, the ads has been around for more than a year.

Savanna 1 advertise at rm500 per sqft but no transaction as well.

Kiara residence 2 is currently at 390 per sqft (leasehold land but near to LRT)

With all the above data presented and with bank negara tightening measures of 70 per cent for 3rd residence, based on nett income.

In conclusion, I feel the pool of potential buyers looking to buy covillea at 600 per sqft is almost impossible to get.

At 470 per sqft may raise their eyebrow. Even at 470 per sqft, covillean are making a nice 25 to 30 percent profit.

Potential owners that buy for own stay may think twice as covillea will be swarm by APITT and IMU students seeking to enjoy the new swimming pool, gym. In no time, the facilities will be in ruins. Especially with BJ type management.

hi goldwish!
care to elaborate how well is km1's layout against covillea's?
think savanna 2 serves a good reference point for covillea to benchmark against. close proximity with similiar genes.
am not too sure whether 470psf would give 25% profit to original purchasers as block a was sold at a much higher price. anybody care to comment on here?
since you seems pretty knowledgable on this part of town, care to share the facilities condition of vista komanwel and savanna? has it already been thrashed kaw kw by the students?

KM1 is lower density, more windy compare to covillea(block by vista komanwel A). KM1 is not block by any building.

The moment the road links across to esplanade. Covillea will get a steady stream of cars during peak hours and will get more when Kiara 2, z residence, treez, km1 and km2 completes. It will get really busy in front of covillea.

Vista komanwel badminton court, swimming pool and gym all went through major repair works. All facilities are pack with students. African and middle east are the worst of the lot with their smoking habit, throwing bottles and rubbish out of their windows. At any moment, vista komanwel lifts will definitely have at least 1 student with you.

Just imagine, at 600 per sqft property and you experience the same fate as vista komanwel. If you are buying to rent, 600 per sqft gives you a very bad ROI. If for own stay, I don't want to see any students.

As for savanna 2, they are less than 10 units occupancy. Units are for sale for over a year. Looks like savanna 2 are own by BJ rich friends. 'sek pau my pau' in Cantonese.

Covillea blk A 1293 sqft average price is about 460k. If sold at 600 per sqft, it will cost 775k. Profit is 315k. That is 40 per cent profit. If it is sold at 470 per sqft, it will cost 608k. Profit is 148k. That is 25 percent profit.

Don't you think it is a decent profit as covilleans paid about 40k plus downpayment and enjoy dibs scheme until VP. And still make a clean profit of about 100k after paying capital gain tax and loan penalty.

My friend just sold his savanna 1 for 633k.. 1212sf

That is a very good price. May I know is the unit in block A or B?

did a quick research, the above psf is the published rate by developer based on bumiputra starting units.

bulk (85%) of covillea units are sold at an average RM490 - RM510 psf as confirmed with developer's records. hence, rm600 psf is only 17% increase.

Some ppl just like to simply say things without facts. Savanna 1 has so many transacted unit >600k. Furthermore, my friend sold his savanna 2 early last year with 550/sqft. Anyway, whether covillea is 500/600/700 /sqft, I am not too concern. If the product is good, it will sell by itself.

think someone is well vested in km1 & is running down all condos in the vicinity!

Savanna 1212 sqft at rm633k is sold with fully furnished. If bare unit cannot exceed 600k

---

Added on March 27, 2012, 10:32 pmFrom my records here

Blk A 1293 sqft launching price on their sales board average around 470k which is 363 per sqft.

Blk A 1415 sqft launching price average around 557k which is 393 per sqft.

So where does 490 - 510 per sqft comes from. Could the developer be giving you KM1 records. If KM1, then it is correct.

I am not against people selling covillea at 600 per sqft. In my opinion, this kind of pricing will eventually materialise maybe after 3-5 years.



This post has been edited by goldwish: Mar 27 2012, 10:32 PM

bulk (85%) of covillea units are sold at an average RM490 - RM510 psf as confirmed with developer's records. hence, rm600 psf is only 17% increase.

not good to be vested in km1 & running down berjaya's covillea.

the per sqft price listed is very lack of accuracy...should be higher...

This post has been edited by pjguy: Mar 29 2012, 09:30 PM

Try this link.

Covillea Blk A price

Very annoying those cars & hawkers at along the way to Covillea.

How good if this were the price of today. Sure sold out in 1 hour.

savana 2 got 6 unit own by a same guy from HK i heard, recently sold 1 unit at 9xxk

this is the first weekend when they launch block a.

subsequent weeks due to demand, they've increased another 20%.

you can confirm with berjaya.

is the price too high? will it be profitable to buy Covillea now?

have you guys check out the FREE property investment analysis?

Get your FREE property investment analysis here

went to inspect the progress. doubt berjaya can complete by 3rd quarter this year.

have you check it out lately?