oversupply of condos in KV, rental yield is low, rentability is declining and vacancy rate is high........

the writings are so clear on the wall and yet sad to see so many bravehearts whacking condo blindly.

better parang cheap auction units after completion.....

vacancy rate is so high in the new condos that VPéd 1-2 years ago including key mkt centres in KLCC, MK, Bangsar South, PJ, Subang Jaya, etc. Just take a drive to these places and count the units with lights on......sedih tapi benar!

Icon City should be no exception in the same fate......

kindly name 3 condos (VPéd about 12-18months) in KLCC, MK, Bangsar South, PJ, Subang has exceeded 50% occupancy....

KDS, Casa Kiara 2 and Verve Suites (phase 1) in MK?

sure you know that these 3 condos were handed over >> 18mths ago and occupancy rate still hovering around 50%......despite the developer prices in 2005/6 were lower. So the remaining 50% vacant units are those who bought cash and no need to pay instalments?

many VPéd btw 12-18mths still have very low occupancy rate......

if got so much money to splurge and die die wan to invest in condo along federal highway, then this PJ Sentral Garden City(btw PJ Hilton and A&W dive in restaurant) looks more promising than Icon City....why?

- 4.7 acres garden park will be included
- nearer to PJ and KLCC
- walking distance to both Asia Jaya and Taman Jaya LRT stations
- buildings also GBI and LEED certified

http://www.pjsentral.com/about-pjsentral.php

[quote=kh8668,Jul 18 2011, 11:31 AM]
ok..

casa kiara 2 - handover around end 2009

Verve suite - Viva - 2009
Verve Suite - Vibe - end 2010

kiara designer - 2007 (this is over 24 months)

except the Kiara designer suites, casa kiara 2 and verve suite block a and b still applicable to 18 months. kekekeke

by the way, friend of mine to acquired a unit in casa kiara 2 (developer unit) for 480psf. immesidtae VPed from developer in April 2011, straightly rented out at 3,500 per month with minimal fit out required.

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Added on July 18, 2011, 11:32 am

forget about KDS as this condo completed nearly 4 years.

Take CK2 and Verve as examples....one of lowest price for condo and studio in MK that completed 18-24mths ago.....what is the estimated occupancy rate today...50%?

If 50% is true, then what happens to those new supplies eg Meridien, Lumina Kiara, Banyan and many more in KLCC, Bangsar South and PJ/Subang.....i always pass by these areas at nite and the number of lights hardly 30%

only keen to see occupancy rate for new condo that VP'ed in the last 12-18mths ago.

The point i would like to make here is vacancy risk is higher due to oversupply of condos and higher rental.

For those who invested in Icon City and expect to rent out with good price, you need to have a lot of luck and plenty of standby cash reserve.

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Added on July 19, 2011, 7:20 amheard the earliest launch is year end. Likely LH.

Price wise....'thanks' to MS....sure the price will be closer or even higher than Icon City,

This post has been edited by jet2020: Jul 19 2011, 07:20 AM

yes, Tropics qualified within 18months after many attempts.....difficult right? i oso got 1 unit of Tropics studio but only got a tenant after > 7months and need to spend >$30k to FF the unit...i am not sure if Tropics occupancy is good today as i still see many units empty despite its strategic location. Not many condos are as lucky as Tropics.

one swallow does not represent a summer...I can easily name you 10 new condos with very low occupancy...open the mind and see the big picture

why should i ask for high rental when my cost is around $190k?

i really hope you will keep buying new highrise condos including Icon City......

for me, i will wait to parang auction or firesale units post completion.....kekeke

good and responsible developer will refund 95% - 100% earnest deposits as long as SPA is not signed.....

do you think mahsing is classified as "good and responsible dev"??

TMS keeps pushing the bubble to bigger ring...this is like putting a goose that lays eggs on a slow cooker...suicidal and greedy approach that may bring late comers to Holland

765psf last week for GP pigeon holes in siber-tak-jaya and this week 900psf for i-conned in peejay....next will b min 700psf in m-sentral

sure TMS cybertroopers will hentam me for telling the truth.....kekeke

many new launches lately....if RGPT is increased next month during Budget2012, then many prop investors especially late comers will have cold feet......

Sin Chew reported today govt may re-introduce 30%RPGT....election is around the corner and govt must do something to soften the growing dissatisfaction against inflation