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Investment ICON RESIDENCE MONT' KIARA [OWNERS' THREAD], Mediterranean, Chic Tropical Paradise

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timothyy
post Jul 16 2010, 06:52 PM

Do Not Underestimate the "Pawa" of the Dark Side
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Senior Member
4,504 posts

Joined: Jul 2005
From: Planet Naboo
Just came back from there.

Icon 1, 80% booked.
Icon 2, 20-30% booked.
Icon 3, opened few floors only, 10% booked.

Icon 1 price psf is around 8-10% cheaper than Icon 2. Strange.
For 10th floor, 1164sft, 2 rooms, 2 bath, no balcony, facing school, inner corner unit, Price is RM1,205k.
(For similar unit, diff design, similar size, Icon 2 is selling at RM1.3mil)

Oh, for time being, early bird discount of RM65k per unit regardless of size.

Installment only start upon completion by 4 appointed banks which rate is at BLR -1.9

For booking, RM30k is required upon signing and balance to be paid during S&P which is estimated to be in Aug/Sept.

They estimate rental to be around RM4.50 per sft which, a 1164sft unit will fetch around RM5,200.
Maintenance - First year free and subsequent is at RM0.35 (RM407 per month).
It is freehold.
1 side facing high tension cables but they assured the Naza/Government project which is just oppositethe road will convert it to underground.

Other guesstimate new buildings opposite the Icon. (according to them)
1. Trade & Convention Centre
2. 5 Star Hotels
3. High end office buildings
4. MRT station

Slightly off of this Icon, they say Sunrise will build a 3 blocks highrise super expensive condo. (next to Matrade).

In front of Icon, there is an empty piece of land, they seem to be reluctant to talk about it but the way they answer it, should be another high rise condo coming up.

So... what you think? Worth the money?

Points to ponder
1. Low downpayment since they absorb RM65k from the 10% deposit.
2. 3 yrs completion only start paying, so, potential property value increased around the area or at least maintain same price. So, if by 3 years time and financially not stable, you give up and lose few thousand on stamp duty?


So... danger or not?

 

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