Investment Five Stones @ ss2/72
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 Jan 22 2010, 05:26 PM
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Senior Member
596 posts Joined: Jun 2008 
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might have miss out or over look.
more congestion if the 4 lanes flyover is in construction. road will be close. for how long the construction takes? This post has been edited by lowyat888: Jan 22 2010, 05:29 PM |
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Jan 22 2010, 05:36 PM
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VIP
13,495 posts Joined: Dec 2006 From: KL, Malaysia 
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@lowyat888,
I've absolutely no idea when construction's going to start. Like I said, to each his own! And if U want me to agree with you to say that Five Stones is a bad investment, I won't - only because I really don't think so! |
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Jan 22 2010, 08:25 PM
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Junior Member
274 posts Joined: Nov 2004
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My little inputs if they make sense to you all guys:
1. If you like SS2 and can get used to condo living, I believe 5 Stones is a good project to look it for own stay. Within SS2 vicinity, I think there is no comparable product. If one can afford the price and maintenance cost, go for it. 2. To buy and lease out, you will not likely enjoy good yield. 3. To buy and flip on completion, it is very much a judgemental call on property market in 3 years' time and also the risks profile of the investors. one just can't rule out the possibility that the investors might make 20-30% upside when ready. My 2 cents.............. |
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Jan 22 2010, 08:45 PM
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Junior Member
97 posts Joined: Apr 2007
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im renting a room at jasmine tower, juz near the site. my room is at 20th n facing the site n ameena. i wonder y the ppl will go to buy these condo at more than 1m when the jasmine tower now is selling at 250k...
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Jan 22 2010, 10:10 PM
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Junior Member
178 posts Joined: Jul 2009 From: Petaling Jaya 
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QUOTE(wschan @ Jan 22 2010, 08:45 PM) im renting a room at jasmine tower, juz near the site. my room is at 20th n facing the site n ameena. i wonder y the ppl will go to buy these condo at more than 1m when the jasmine tower now is selling at 250k... Ameera and Five stones are targeting at the exclusive segment of the buyer, not for the average. The same goes for BMW, Merz etc, why buy so expensive when can get a Kancil. No offence here, different product for different market segment to suit different requirement. This post has been edited by klang-valley: Jan 22 2010, 10:10 PM |
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Jan 22 2010, 11:07 PM
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All Stars
10,319 posts Joined: Dec 2009 From: Malaysia
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QUOTE(klang-valley @ Jan 22 2010, 10:10 PM) Ameera and Five stones are targeting at the exclusive segment of the buyer, not for the average. The same goes for BMW, Merz etc, why buy so expensive when can get a Kancil. but jasmine isn't a kancil. at their heydays, it was comparable to the landed pricing in ss2. it just goes to show that landed have much capital appreciation over the long run. No offence here, different product for different market segment to suit different requirement. ameera and 5 stones are good, no doubt about it. but the value lies in the owner. if i can afford it and i truly wanted something new in ss2 (which there won't be anymore), then why not. it's a good neighbourhood. |
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Jan 23 2010, 12:33 AM
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VIP
13,495 posts Joined: Dec 2006 From: KL, Malaysia
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@kochin,
Jasmine Tower used to be *the* condo in the vicinity but I never liked it due to the squatter homes; plus you definitely cannot put Jasmine Tower & Five Stones in the same basket for comparison; even Ameera; it'll pale in comparison to both of them. @wschan, As mentioned, it's catered to a different segment of the market. |
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Jan 23 2010, 09:53 AM
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Junior Member
274 posts Joined: Nov 2004
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If I could contribute somethings......
The valuation of a condo depends a lot of factors, of course location is important but it is not the sole factor. some key factors (not in particular order depends on purchasers' priority) include: 1. Development concept (lifestyle living) which I think SDB has done quite well for 5 Stones 2. Developer's reputation, brand and track record. I believe SDB has his followers, particulaly product quality and after sale supports 3. Property management, I was told SDB has competent team in this area, I suppose thru their experience from Park Seven, Maya hotel........ Hope the same standard will continue after residents take over 4. Profile of owners - if most of the units in 5 Stones are family and self occupied, chance are the condo will be better maintained. I am sure if purchasers have paid over rm1 mil, surely they would like to maintain and protect their investment. I am sure there are other more factors beside Location. I did hear before that even among condo within MK, there are discrepancy in valuation. More likely than not I observe the valuation is to certain extent a function of the reputation and track record of the developer.... Hope it makes sense. Added on January 24, 2010, 6:22 pmAny forumer dropped by for the launch this weekend? Appreciate some sale response on the remaining Block E. Cheers! This post has been edited by sonycamera: Jan 24 2010, 06:22 PM |
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Jan 25 2010, 09:08 AM
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Senior Member
803 posts Joined: Jul 2007 From: Kuala Lumpur
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QUOTE(lowyat888 @ Jan 22 2010, 03:54 PM) buyer keep jacking up the price also good for the area and boost up the price there Every Products has it's own target market, same for property. To some, monthly maintenance is not an issue, Security is. 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. Lowyat888, I think you got the profile of the buyers here all wrong. Firstly, they don't buy to rent out, they buy to stay. Secondly, these group of people have the financial means to pay even by cash. I doubt many will loan substantially. Fluctuation of BLR won't affect them much. I am also very sure they are not that stupid to buy millions of ringgit properties if they can't substantiate their income. If I were to buy, I will make sure I can at least pay 50% cash. Yes, property investment is not everybody games but it's for the rich. That is why the rich get richer!!!! Added on January 25, 2010, 9:21 am QUOTE(sonycamera @ Jan 23 2010, 09:53 AM) If I could contribute somethings...... My friend,The valuation of a condo depends a lot of factors, of course location is important but it is not the sole factor. some key factors (not in particular order depends on purchasers' priority) include: 1. Development concept (lifestyle living) which I think SDB has done quite well for 5 Stones 2. Developer's reputation, brand and track record. I believe SDB has his followers, particulaly product quality and after sale supports 3. Property management, I was told SDB has competent team in this area, I suppose thru their experience from Park Seven, Maya hotel........ Hope the same standard will continue after residents take over 4. Profile of owners - if most of the units in 5 Stones are family and self occupied, chance are the condo will be better maintained. I am sure if purchasers have paid over rm1 mil, surely they would like to maintain and protect their investment. I am sure there are other more factors beside Location. I did hear before that even among condo within MK, there are discrepancy in valuation. More likely than not I observe the valuation is to certain extent a function of the reputation and track record of the developer.... Hope it makes sense. Added on January 24, 2010, 6:22 pmAny forumer dropped by for the launch this weekend? Appreciate some sale response on the remaining Block E. Cheers! Look like you have fallen in love with 5 stones  I don't know about u but for myself, sometimes many of my decisions are driven by emotion. If I like it, I will just buy it. The value lies in one self. Don't think too much. Grab one while there are still some nice units.  This post has been edited by tpleong: Jan 25 2010, 09:25 AM |
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Jan 25 2010, 09:59 AM
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Senior Member
596 posts Joined: Jun 2008
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security i dont think sure, with the kind of maintenance $$ can buy alot of security equipment eg cctv etc even better than those security guard. iniatially very hard work but as years goes by become worst n worst.
eg 1 month maintenance+sinking fee Rm800 (maintenance fee subject to increase as years goes by) 1 year is already rm9.6k 10 years already rm96k let say 30 years upon completion of loan 96 * 3 = 288k there will be a glut in condo in time to come whereby there to many already and already congested in the area. staying i think is just bulls, just look at ameera just completed already alot of people selling and those buying five stones condo , it can buy 2 units of ameera condo just the neighboorhood with equilavent sizes. what ever renovation and design it can make with kind of $$ pump in. buyers is making a flip flop for the project to complete and flip flop normally it uses the advantage by paying min(no need to fork out so much $$) and wait until the project completed and sell to make some $$ with the few years low interest rate hoping property market boom up or miracle to come (waterfish). and jack up at least rm100k condo is never is good investing for own staying for rental wise yes nobody pay so much deposit , it rather use the $$ to roll or do business and borrow more. malaysia boleh. Paying 50% 500k++ deposit (income tax definately will come looking for the buyers. interest will definately kills the buyer and work like a dog and slut for it daily. unless easy come easy go $$ (money laundering yes). marketing strategy by the developers, hold some units pretending to be a hot selloff. This post has been edited by lowyat888: Jan 25 2010, 10:11 AM |
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Jan 25 2010, 10:33 AM
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Senior Member
803 posts Joined: Jul 2007 From: Kuala Lumpur
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I agreed with you that condo is not a good investment for own stay BUT as stated, its for own stay , so investment is never in the picture. Generally, for capital appreciattion, we go for landed. For rental, it's condos. Yes, there is a glut but again, it depends on location. I was offered a 7k rental for the condo I am staying by an expat but I turned it down for it is my home. I also have a landed G & G property that I can always move to, which is vacant, untenanted! Why? I emphasize on security.....money is not always everything. We can't always judge things with $$$$$........just my 2 cents
One more thing, you will be surprised to find that a lot of people have a lot of hard cash $$$$ that u can never imagined! ....  This post has been edited by tpleong: Jan 25 2010, 03:42 PM |
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Jan 25 2010, 11:48 AM
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Senior Member
596 posts Joined: Jun 2008
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until now with interest/hidden renovation etc addin also not much earn/ appreciate if really calculate compare market price. might even breakeven or loss.
This post has been edited by lowyat888: Mar 5 2010, 11:55 AM |
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Jan 25 2010, 11:49 AM
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VIP
13,495 posts Joined: Dec 2006 From: KL, Malaysia
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@tpleong,
Well said. Btw if you're planning on taking a 50% loan, U get an additional 3% discount - am not sure if that's applicable to the Bumi's but that's what I'd been told. @lowyat888, Perhaps it's time to expand your horizons a little. This post has been edited by tinkerbel: Jan 25 2010, 11:50 AM |
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Jan 25 2010, 10:52 PM
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All Stars
10,777 posts Joined: Sep 2009
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I actually see lotsa potential for Five Stones in the coming years.... in fact most homes around PJ will do well too.
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Jan 26 2010, 07:58 AM
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Junior Member
171 posts Joined: Sep 2008
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QUOTE(lowyat888 @ Jan 25 2010, 11:48 AM) eg Hi lowyat888,3 years ago ameera were selling at rm450k 1400++ sq ft 4 years ago mutiara damansara surian at RM388k 1400++ sq ft 3 years ago izen II mont kiara at rm450k 1400++ sq ft rental around rm6k -7k 4 years ago ken3 at rm245k 1200++ sq ft rental around rm1.5k -2k 5 years ago ken2 at rm250k 1400++ sq ft rental around rm1.5k -2k 5 years ago marc klcc rm500k++ 900++ sq ft rental around rm6k -7k 5 yrs ago damansara perdana penthouse duplex RM388k 1400++ sq ft 5 yrs stonor condo studio klcc rm400k 660 sq ft rental around rm2.5k 10yrs bandar utama 2 1/2storey at RM388k rental rm1.5k renovate almost 300k + furniture and fittings. current market selling 650k++ (interest not calculate yet) pj8 studio rental around rm3k 660 sq ft until now with interest/hidden renovation etc addin also not much earn/ appreciate if really calculate compare market price. might even breakeven or loss. From your examples, ken2 was at rm250k 5 years ago. I think now should be more than rm450k. Isn't that quite a good appreciation? Ameera was at rm450k 3 years ago. It should fetch rm600k now. It is also profitable right? Thx |
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Jan 26 2010, 08:50 AM
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Senior Member
803 posts Joined: Jul 2007 From: Kuala Lumpur
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Yes, that's only the capital appeciation element, have not taken into account the rental element.........
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Jan 26 2010, 10:18 AM
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Senior Member
3,318 posts Joined: Dec 2004 From: 1Malaysia 
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QUOTE(constant @ Jan 26 2010, 07:58 AM) Hi lowyat888, Ken 2 and Ameera was sold at PJ price levels even if we r looking at few years back , and we defo cant say the same for this 5 stones......From your examples, ken2 was at rm250k 5 years ago. I think now should be more than rm450k. Isn't that quite a good appreciation? Ameera was at rm450k 3 years ago. It should fetch rm600k now. It is also profitable right? Thx |
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Jan 26 2010, 10:28 AM
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Junior Member
274 posts Joined: Nov 2004
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was told Villa (block D) was practically fully taken up except the last few units.
About 60% Block E sold. Here it look like very much the perceived value of 5 Stones in the eys of the buyers than anything else...... |
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Jan 26 2010, 10:31 AM
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VIP
13,495 posts Joined: Dec 2006 From: KL, Malaysia
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Hi peeps,
Am gonna b in the ss2 area later in the evening. Will check on sale progress & update all later. |
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Feb 4 2010, 08:51 AM
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Junior Member
274 posts Joined: Nov 2004
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Hi
A little quiet on Five Stones. Is it all the decent units are taken up already? Anyone has new updates to share? |
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