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> THE ELEMENTS @ AMPANG [OWNERS' THREAD], fancy RM430k you get to live near KLCC? Investment

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HereToLearn
post May 21 2021, 10:58 AM

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QUOTE(cwt2878 @ May 20 2021, 08:29 PM)
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.
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Which tenant would want to pay at the top range when they can choose the cheapest available option? Also note that most likely the bidded unit was unfurnished. It should only be rented at unfurnished rate.

Buy a AA1 bond also gives a better yield, I just simply dont understand why would people buy properties in the current market if it is for investment purposes, unless he/she is highly confident that the rental rate is going to improve SIGNIFICANTLY, that it is worth taking the risk to buy now
user posted image
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Edited: Btw, the bond is sold out. Dont PM me for more info, I dont sell these products (not a banker).

This post has been edited by HereToLearn: May 21 2021, 11:03 AM
McPeePee
post May 21 2021, 06:13 PM

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QUOTE(HereToLearn @ May 21 2021, 10:58 AM)
Which tenant would want to pay at the top range when they can choose the cheapest available option? Also note that most likely the bidded unit was unfurnished. It should only be rented at unfurnished rate.

Buy a AA1 bond also gives a better yield, I just simply dont understand why would people buy properties in the current market if it is for investment purposes, unless he/she is highly confident that the rental rate is going to improve SIGNIFICANTLY, that it is worth taking the risk to buy now
user posted image
.
Edited: Btw, the bond is sold out. Dont PM me for more info, I dont sell these products (not a banker).
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there are expats and company renting units for their executives. for those expats, they are given fixed amount every month. if they spend all, they live better and save nothing. if they spend minimal, they suffer but can save more while overseas. for me i normally spend all my daily allowance when abroad.

during the peak days, 850sqft fully furnished was around 2.5-3k. now all the budget tenants come, offering 1.6-1.9k.
cwt2878
post May 21 2021, 09:56 PM

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QUOTE(HereToLearn @ May 21 2021, 10:58 AM)
Which tenant would want to pay at the top range when they can choose the cheapest available option? Also note that most likely the bidded unit was unfurnished. It should only be rented at unfurnished rate.

Buy a AA1 bond also gives a better yield, I just simply dont understand why would people buy properties in the current market if it is for investment purposes, unless he/she is highly confident that the rental rate is going to improve SIGNIFICANTLY, that it is worth taking the risk to buy now
user posted image
.
Edited: Btw, the bond is sold out. Dont PM me for more info, I dont sell these products (not a banker).
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Yes, is a big IF...

Anyhow, to compare property yield with bond yield should also consider with property u r likely leveraging banks money. I.e. you cant borrow money from bank at 3% interest to buy bond with 4.1% yield.
HereToLearn
post May 21 2021, 11:00 PM

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https://forum.lowyat.net/index.php?showtopi...post&p=99063702

I did the calcs with leveraged money (with 5% stock return and 4% rental yield).

If you are interested to compare with this particular bond, you can repeat the calcs with 4.1% bond yield and 3.27% rental yield.
cwt2878
post May 22 2021, 06:25 AM

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Sure... thats why i would be satisfied if my property yield is around 3.27% now.

Even better if this was bought with 0 or 10% down payment
flight
post May 26 2021, 05:11 PM

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The price of the condos along jalan ampang are severely depressed right now due to oversupply.

Its not a good idea to project current rentals into the future. This is a straight road to klcc with the embassy row on one side and what used to be considered middle upper end condos on the other side.

Do note that despite the low prices in lelong, future prices of new supply will never reach as low as what is sold in the auction market here, because the cost of land and the higher quality construction cost would require a higher price point.
propertyowner
post Jun 1 2021, 01:21 PM

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QUOTE(HereToLearn @ May 21 2021, 10:58 AM)
Which tenant would want to pay at the top range when they can choose the cheapest available option? Also note that most likely the bidded unit was unfurnished. It should only be rented at unfurnished rate.

Buy a AA1 bond also gives a better yield, I just simply dont understand why would people buy properties in the current market if it is for investment purposes, unless he/she is highly confident that the rental rate is going to improve SIGNIFICANTLY, that it is worth taking the risk to buy now
user posted image
.
Edited: Btw, the bond is sold out. Dont PM me for more info, I dont sell these products (not a banker).
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Indicative only. The best bond at guaranteed return is usually issued by government.
AskarPerang
post Dec 27 2021, 12:43 PM

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Another lelong unit check in.
Cheap enough?


A-12-2, The Elements
Reserve price 🔥🔥RM 594,000🔥🔥
Freehold
1066 sqft (corner unit facing Ampang)
Auction: 05-Jan-2021 (Wed)



» Click to show Spoiler - click again to hide... «

AskarPerang
post Jan 30 2022, 03:13 PM

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QUOTE(AskarPerang @ Dec 27 2021, 12:43 PM)
Another lelong unit check in.
Cheap enough?

A-12-2, The Elements
Reserve price 🔥🔥RM 594,000🔥🔥
Freehold
1066 sqft (corner unit facing Ampang)
Auction: 05-Jan-2021 (Wed)

» Click to show Spoiler - click again to hide... «


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No bidder at 594K.
Further price drop.
This price should be cheap enough then.


A-12-2, The Elements
Reserve price 🔥🔥RM 535,000🔥🔥
Freehold
1066 sqft (corner unit facing Ampang)
Auction: 9th Feb 2022 (Wed), 3.00PM


» Click to show Spoiler - click again to hide... «

AskarPerang
post Mar 10 2022, 01:35 PM

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QUOTE(AskarPerang @ Jan 30 2022, 03:13 PM)
No bidder at 594K.
Further price drop.
This price should be cheap enough then.

A-12-2, The Elements
Reserve price 🔥🔥RM 535,000🔥🔥
Freehold
1066 sqft (corner unit facing Ampang)
Auction: 9th Feb 2022 (Wed), 3.00PM

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No bidder at 535K.
This unit further drop price 10% to 482K.
Sold at reserve price 482K. Single bidder won unchallenged.
Good catch. thumbsup.gif


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tohbao
post Dec 17 2022, 06:10 PM

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Do element still have any dev unit?
AskarPerang
post May 29 2023, 09:02 PM

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Another lelong unit sold today.
829sqft for just 382,637.70

Single bidder won unchallenged.
Already drop until the 8th round. Yet only 1 bidder interested.

Good catch.


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forever1979
post May 31 2023, 08:02 AM

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price going south as investor not only looking at one particular condo here, but plenty nearby condo as well especially those recently VP one... this part of jalan ampang is a bit off...
Mr Gray
post Jul 21 2023, 11:41 PM

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QUOTE(AskarPerang @ May 29 2023, 09:02 PM)
Another lelong unit sold today.
829sqft for just 382,637.70

Single bidder won unchallenged.
Already drop until the 8th round. Yet only 1 bidder interested.

Good catch.
user posted image
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Another lelong unit, several rounds already. A-17-01

1572sqft (biggest unit in elements) now RM591k. I'm guessing it will go down even further.

Such a far cry from 1 million ringgit price tag when it was launched.

https://www.propertyguru.com.my/property-li...ie-low-38317731

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This post has been edited by Mr Gray: Jul 21 2023, 11:41 PM
taurean
post Jul 21 2023, 11:48 PM

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QUOTE(Mr Gray @ Jul 21 2023, 11:41 PM)
Another lelong unit, several rounds already. A-17-01

1572sqft (biggest unit in elements) now RM591k. I'm guessing it will go down even further.

Such a far cry from 1 million ringgit price tag when it was launched.

https://www.propertyguru.com.my/property-li...ie-low-38317731

user posted image
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A lot of housing price is dropping now.
and population in Malaysia is not increasing as much as last time.
Aging population is increasing also.
I wonder if residential property's price will go up in long term as the supply will surpass demand in long term.

Malaysia population growth rate could be referred from link below.
https://www.dosm.gov.my/portal-main/release...s-malaysia-2022
Mr Gray
post Jul 22 2023, 12:53 AM

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QUOTE(taurean @ Jul 21 2023, 11:48 PM)
A lot of housing price is dropping now.
and population in Malaysia is not increasing as much as last time.
Aging population is increasing also.
I wonder if residential property's price will go up in long term as the supply will surpass demand in long term.

Malaysia population growth rate could be referred from link below.
https://www.dosm.gov.my/portal-main/release...s-malaysia-2022
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More evidence to support the view that property as investment is not always sure thing.

At least in Klang valley now, buying a house to live, make sense.

But to buy for rent, or to sell later for capital gain, maybe not

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