At RM650psf.......you need to sell it for close to 1.2mil................ very tough IMO......... logically speaking. Will locals pay for 1.2mil condo in ss2?


But being vested in the area, I sure wish your hopes become reality

@Pai,
If I didn't see the prospect I wouldn't have purchased it, right?! Also, have no idea where you derive 1.2m; it's more like 1.9m!

Anyhow, like I said - we'll know in 2013 when the place is ready.

Sonycamera,

If you are buying for own stay, you should go for secondary market NOW!!! There's plenty around if you are willing to pay 600 psf , with better quality & location.

Just my opinion.

Personally, I feel a target price of RM600-650 psf is not unreasonable. It is roughly an appreciation of about 20 -30 % over the entry cost in 3 years.

For this to happen, I think the following factors will help:

1. Ameera will need to perform well in the next 3 years. I was told Ameera owners are asking RM400-450 psf now.

2. I believe most purchasers in 5 Stones are for own stay while there are more investors in Ameera. If the rule of supply and demand works, this may be in favour of 5 Stones when it is ready.

3. SDB should deliver high quality products and after sale supports as they have projected. Ameera will set a good precedent for 5 Stones.

4. SDB should continue to promote and support the market awareness of 5 Stones even they have cleared all their stocks. Branding commands value.

I tend to agree with Tinkerbel, the prospect is there.

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Added on January 22, 2010, 9:40 amHi tpleong

Any recommendations around SS2?



This post has been edited by sonycamera: Jan 22 2010, 09:40 AM

Although like yourself, I do like SS2 very much, I would suggest that u look beyond SS2.

Firstly, I don't think Ameera is worth RM400++ psf,honestly speaking. At most, for good units..maybe RM400 psf. Afterall, it is still SS2, a mid-class area. The landed properties have to rise to that level first otherwise, why would I settle for a condo if I can get a landed for a lower price. ......logic, right?

I do agreed with you that most buyers of 5 Stones are for own stay, moving from landed to condo, for only one reason , security. They consist of mainly the older generation, definitely not yuppies. Another thing, there won't be any expats...that's for sure. So u can only buy 5 stones for own stay, rental is out!. One thing that I didn't like about the area is the traffic....real bad.

SDB....no comments but so far, they are doing ok.

cheers

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Added on January 22, 2010, 10:05 amAnother thing we need to take note is that the current BLR & interest free scheme during construction is playing a big part in the overwelming sales. Scenario might change in 2013!

This post has been edited by tpleong: Jan 22 2010, 10:05 AM

Chief, was referring to the smallest unit.........hence the 1.1-1.2m

Prospects is what we normally want to see therefore highly subjective ....... but reality might not be as rosy...... and at close to a mil entree cost, the stakes r a lot higher......

With real prospects of rising interest rates in 2013, what are the odds of finding someone would could pay approx 11k in monthly installments + maintenance to stay in ss2.............................

people nowadays must be loaded buying condo around RM500k++. just imagine buying condo more than half a million is ridiculous at pj ss2. how much can it appreciate? rental is totally out. maintenance is also expensive.

condo is kosong/empty only. have to renovate and put in alot of furniture etc.
alot of hidden $$ have to be invest into.

just wait till BLR increase than alot of property warehouse sale bcos buying at almost peak price. this year alot of things is about to price increase.

majority of buyers buy property at a very high price nowadays all talking about more than rm500k. there is alot of choices with that amt of $$ and how much can it appreciate.

for condo is way too high price. i think alot of buyers is earning alot of $$ in this kind of economy

@tpleong & sonycamera
You're definitely right. At RM600 psf there are a lot of other opportunities out there. Hell, for RM600 psf I'll sell you the link house (22' x 103') I purchased at Valencia *grins* except it's all the way in Sg Buloh; not anywhere near ss2

@Pai,
The smallest available unit (on this launch) is 2,100 sqf. 1.1m is the current sale price Ah well.... no risk no gain

@lowyat888,
You'll be surprised at the market; how many rich people are buying into condominiums whether it's to give to their children or for their own stay. Apparently, someone bought 3 villa units at Five Stones; for each of his kid!

It is good actually if everyone who buys into Five Stones moves in because that way the place will appreciate faster.

Not RM500k++ lah , it's RM1.5 mil (3 times) in SS2. If it was RM500k++, I would have sapu already!

However, I can bet with you that you won't see any forceselling for this particular project.

This post has been edited by tpleong: Jan 22 2010, 03:30 PM

@tpleong,
If it's RM500k++ I probably wouldn't have bought it ! Somehow, I'm just very particular about purchasing properties; probably just kena influence from dad - if it's not too exclusive, it's not something I want LOL

Timkerbel,

No offence, 5 stones is only exclusive within its own compound. The surrounding is a bit let down with low cost apartments and all. This is the very reason why I didn't buy in Ammera in the first place and same for not willing to pay so much for 5 stones. Again, this is just me.

Notwithinstanding the above, if I have plenty of money to spare, I will still buy the Villa......just love it. U made a good choice....no regret dont worry.

cheers

@tpleong,
Yeah... I don't mean the entire area being exclusive; I ain't that rich! It sure is time for me to move back to PJ though i lurve this kampung I live in right now *g*

Timkerbel,

Which kampong are you staying ? I am also staying in a kampong but full of concrete...unfortunately

buyer keep jacking up the price also good for the area and boost up the price there

i think the condo there is more expensive than those double storey house there

living in condo actually is more expensive than house bcos of the monthly maintenance+ sinking fee and extra insurance. alot of hidden cost behind. for rental ok not for staying. very high maintenance cost per year

for rental is totally out for that area bcos double storey house is rental rm1500k only
double storey house ownly rent for RM1500 amonth for size of 24*75 house and alot of space for parking yr car compare to condo only 1 or 2 car park per condo.

how much can condo rent if really want to rent? can cover loan interest? not expatriate area. can the rental be match against klcc condo? but the price purchase almost the same as klcc condo if compare

alot only pay loan interest but not the principal. the only gainer will be the bank, the longer the better. in time to come to payup the loan ,the condo will be triple the among purchase

buying 3 condos must be very loaded. their salary must be almost 50k amonth. incometax will eyeing on them soon. REALLY HAVE TO BECAREFUL AT THE BLR REVISE. when it reach 6% then will feel the pain.

even 500k loan salary must at least above 10k

Big Mistake Property Investors Make
Some people can jump in the property game, buy an apartment, rent it out to the first viewer, and then says: “HEY! This stuff is easy, how come not everyone is doing it.

It is true. Property investment is quite an easy process to get into, and many starters even with the least amount of homework can land a decent piece of property and generate both rental return as well as a healthy book value increase over the following few years.

However, the differentiation between racking multi-million dollar fortunes in any market, and those who fall by the side in frustration at market conditions/falling yields/rising maintenance/panicking over bank payments not being met, happens on the middle laps of this stamina race.

Property investment is like Le Mans 24 hour circuit, not a quarter mile drag. You won’t get rich by pulling a good gear change. Alternatively, if you are on a circuit and gaining half a second per lap on your competition, and the car is setup to withstand the long journey, with your team prepared with necessary spare parts and enough fuel, then the game is set from the beginning and you will cruise to take your checkered flag in confidence.

This post has been edited by lowyat888: Jan 22 2010, 04:32 PM

@tpleong,
Ah.. I don't live in concrete jungle *grins* and that's what I like about this place

@lowyat888,
Ah well... you're right - not many people will want to shift into condo due to maintenance fees but there are people out there who don't mind the maintenance fees for security purposes.

From your postings, I can say you're more the traditional kind who prefers landed to condo; and that is absolutely not wrong. As I've said, if I haven't got any other property right now, I would rather spend the 1.5m on a landed property.

with 1.5m $$ prefer bungalow or landed property. the buyer is already a millionaire.

talking about hard earn $$ well spent or worth it or not (cost benefit). even have a lot of $$ does not mean spent unnecessarily.

maintenance wise is not worth the $$ payfor. ayear at least few thousand $$. and how often the people really utilise the facilities (join club outside , fitness first etc better). always change their management later on . the security is for formality only.

with the yearly maintenance fee, the $$ can buy alot of security equipment like cctv for yr home, security device etc. which is even better then the condo security

living in a condo have no privacy, alot of people going in and out / hidden people watching from upstairs or different block. want to wash car also cannot (very inconvenience). car park far away from the lift and have to walk a distant especially carrying stuff etc

people/relative visiting also have difficulties getting a car pack and have to walk a distant in order to get into the condo

This post has been edited by lowyat888: Jan 22 2010, 05:08 PM

Hi, it is interesting to note that 5 Stones has become a pretty popular thread.

I think different people look at a property with different objective ie buy to stay, buy to flip......I agree that SS2 is not for tenants market like MK or Bangsar, so there is no rental yield. Buy to flip, then one got to take the market risks in 3 years times, very much a market judgemental call.

I am looking at 5 Stones for own stay. I particularly like SS2, I suppose this is a very personal preference. One can give many good points about SS2, similarly another guy can tell you all the negative things.

The other reason I am attracted to 5 Stones is I am looking for a brand new property which practically none in SS2 other than condo. The other strong point for condo is security which I believe should be better than gated nad guarded landed property.

I like the concept and SDB brand (hope I am not wrong).

The only resistance that I got to overcome is the pricing. Frankly, to me this is more a personal issue of affordability rather whether the unit is overpriced.

As we say, most of the 5 Stones purchasers are buying for own stay. I am sure they have done their evaluation and numbers and all of them can't be wrong. I suppose the key thing is they can affort the price and they see the value in 5 Stones.

@lowyat888,
All I can say in response to you is to each his own.

@sonycamera,
I currently live in a gated community and am pretty satisfied with the security measures here; I used to think it was a nuisance cause it was really troublesome but I've learnt to adapt. As to whether condo security is tighter than that of a gated and guarded community, I really don't know; it all boils down to management.

the excess road out there will be very congested due to overwhelming condo their when it is fully occupy and a school there as well.

@lowyat888,
Yes, there'll be congestion but didn't U read there's a new flyover which is going to be built; that should help ease traffic along the mainroad; plus ss2/72 will be converted into a 4-lane road.