Many thanks for the reply / replies. Good to know. I've noticed the Airbnb rates for Elements have shot up too.

Mean demand has shot up, higher income.

Buy cow don't buy string.

There are units in the Elements selling for 500 PSF.

If one is OK with the extreme density and resident profile, this should be ok for ownstay.

hi guys,is this condo still available for sale
if there is any purchaser here,hows the condo maintenance fees about,defects?

Maintenance 36 sens psf, also DBKL fee. Remaining will be water and electricity bills. Generally acceptable, much lesser Arab now as they moved to Arte, thanks them.

Lots of offers on property sites. Try get the higher floors to pass the GCB condo and Ampang City.

Another lelong unit check in.
Should be cheap enough this price.


B-23A-3, The Elements @ Ampang
Reserve price 🔥RM 369,000 🔥
Freehold
700 sqft, 1 car park slot
Auction: 15-Apr-2021 (Thu)
*Non bumi lot
*Vacant unit

Unit sold at 380k.
A rare good catch in the market today.
Unit drop from 520k.



Previous Auction(s) for this property
Auction Date Price
2021-03-29 RM410,000.00
2021-01-22 RM410,000.00
2020-09-23 RM455,000.00
2018-06-23 RM520,000.00

Now fully furnished asking only 600k, might even go lower after negotiation. RIP FOMO bidders

There is no unit at 1572 sqft selling at rm 600k.... rental is at rm 3k to 3.5k fully furnished.

This post has been edited by flight: Apr 27 2021, 04:52 PM

Oh you are right, my bad. I didnt check properly. The ones I checked were 1400ish. But psf wise still similar to the unit bid at 636k (the one at 607k had defects).

https://www.propertyguru.com.my/property-li...nn-tan-32648440
https://www.propertyguru.com.my/property-li...cheong-32533680

But dont compare fully furnished (incur additional cost, mess up rental yield calcs as different people will have different furnishing fee), compare partially furnished unit, current net rental yield is about 3.27% for the 1400ish units and the unit bidded at 636k (psf wise)



This post has been edited by HereToLearn: Apr 27 2021, 05:37 PM

Its probably fairer to take a range instead of picking the absolute lowest few rents.

The higher rents are rm4k, most of it is around rm3k to rm3.5k.

Renting out unfurnished in this market seems like a bad idea.

Yes your argument is fair.
But in the market, USUALLY the lowest ones get the deal 1st (to minimize untenanted period). So I always use the lowest rent and lowest selling price for rental yield calcs. Also, I was comparing unfurnished sale to unfurnished rent

And yes, renting out unfurnished in this market seems like a bad idea. This one i partially agree - depending on how one furnishes the unit. If one chooses to beef up the unit a damn lot but only to increase the rent by a little, then it might further reduce the rental yield

to me you also missed another key factor in property, height & direction. no one will sell you tower A xx-01, xx-15, tower B xx-15 high floors at 600k+, dream on

Why this project lelong until no tomorrow?

850sqft lelong unit check in at below 450k.
Cheap enough price?
But view possible blocked by Arte Plus.


B-30-9 The Elements
Reserve price 🔥RM 442,868 🔥
Freehold
850 sqft
Auction: 20-May-2021 (Thu)

Don't have chance to go look see at this area due to mco.. anyone can feedback what kind of tenant profile can get for rental of studio / 1 bedroom condo here?

Attracted 3 bidders fight just now.
Unit sold at 560k.

Last month able to win unchallenged at 492k but nobody interested. As usual waiting for rock bottom price and end up need to fight.
2 months ago reserve price at 547k.

With the rental yield he is getting, I doubt it is a good investment.
The 3 bidders must be very optimistic that the rental rate will go up. But who knows, they might be own stay buyers

Property portal shows asking rental ranges from 1500 to 2500 for furnished units of the same size.

If can rent out at the top of this range, then should be fine.

This is assuming the asking rental is reflecting real market rate.