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Investment KINRARA RESIDENCE [OWNERS' THREAD], Lifestyle landed homes from Mah Sing

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SUSUFO-ET
post Jan 23 2011, 04:43 PM

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QUOTE(wwwcomment @ Jan 23 2011, 10:43 AM)
intermediate of semi-D? rclxub.gif
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the 1st and the last unit of a row (if not cul-de-sac) is called Corner Semi Detached, the rest are intermediate
mrhawk
post Jan 23 2011, 09:41 PM

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QUOTE(Kinraraboy @ Jan 23 2011, 02:14 PM)
Checked with the Sales Office today and found out that they are revising the price of the unsold intermediate units which were previously sold due to loan rejections, buyer pull-out etc to RM 1.48M. Not many units available.

They have not yet released the last 2 rows for the Semi-Ds and the price tag is a still a mystery. Wah!!! the early birds have made RM 160K paper gain.
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i wish i could be a developer. reaping profit so easily. no doubt mahsing must have a strong and dynamic team producing right products catering for the needs of market not like the near by developer continue to produce outdated product forcing through your throat. just because it has piece of land at good location. kudos to mahsing that padan muka the nearby developer.

by the way, how far would you guys think the price will be 3 years down the road. originally it was for own stay. but looking at rising price i was so tempting to sell.
eric er
post Jan 24 2011, 01:49 AM

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Fortune teller said for the 2SD, the last 2 rows will be going at 1.6 to 1.7m. ( with the showhouse ready)

3 years from now potentially 1.9 to 2m. Hope that will happend.........cheers
Kinraraboy
post Jan 24 2011, 11:36 AM

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QUOTE(mrhawk @ Jan 23 2011, 09:41 PM)
i wish i could be a developer. reaping profit so easily. no doubt mahsing must have a strong and dynamic team producing right products catering for the needs of market not like the near by developer continue to produce outdated product forcing through your throat. just because it has piece of land at good location. kudos to mahsing that padan muka the nearby developer.

by the way, how far would you guys think the price will be 3 years down the road. originally it was for own stay. but looking at rising price i was so tempting to sell.
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When the houses are completed, I reckon that the 2 storey semi-d will go for 1.8M and the 3 storey semi-d at 2.0M. (Or more)

Congratulations to all who have grab the opportunity to purchase earlier.
mrhawk
post Jan 24 2011, 12:32 PM

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eric and kinraraboy, mind to share your valuation methodology
SUSUFO-ET
post Jan 24 2011, 01:40 PM

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[quote=Kinraraboy,Jan 24 2011, 11:36 AM]
When the houses are completed, I reckon that the 2 storey semi-d will go for 1.8M and the 3 storey semi-d at 2.0M. (Or more)

263 units of Semi-D is a large number, many investors also, I have doubt especially the 2-storey Semi-D can reach 1.8 mil, the semi-d with built-up of 3138sf, 40'x80' is too general, calling RM573/sf is too optimistic, dun forget 2-storey Semi-D has to fight with Kinrara freehold semi-Ds (same land size, built-up and freehold), besides that, Kinrara Residence own 3-storey offers 3318sf in total built-up are now selling 1.05 mil (end lot + 10ft) could give a challenge to it.

3-storey house road is 50ft wide has advantage, wait when complete you will see the different, it is easy to get freehold property but too difficult to get wider reserved road.
an example of 50ft wide in Taman Esplanad Bkt Jalil, very exclusive




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mrhawk
post Jan 24 2011, 02:15 PM

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i kinda agreed with UFO. Assuming half of the unit is for investment (132 units), RM1.8 mil / unit = total value of RM238 mil. not a small amount to be refinanced. if you checked most of the semi D development in PJ are less then 200 units. so no of units is key here.

3 storey link vs 2 storey semi D. i think Semi D still win unless the premium is too far.

anyway, a lot of things could change 3 years down the road. hopefully by then, the LRT extension is ready and Jalil City materialise. these catalysts will definitely attract people from other area, then the price might be sustainable. otherwise relying on population from puchong and kinrara may be a bit risky.
Kinraraboy
post Jan 24 2011, 11:15 PM

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QUOTE(mrhawk @ Jan 24 2011, 02:15 PM)
i kinda agreed with UFO. Assuming half of the unit is for investment (132 units), RM1.8 mil / unit = total value of RM238 mil. not a small amount to be refinanced. if you checked most of the semi D development in PJ are less then 200 units. so no of units is key here. 

3 storey link vs 2 storey semi D. i think Semi D still win unless the premium is too far.

anyway, a lot of things could change 3 years down the road. hopefully by then, the LRT extension is ready and Jalil City materialise. these catalysts will definitely attract people from other area, then the price might be sustainable. otherwise relying on population from puchong and kinrara may be a bit risky.
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Everybody is entitled to their opinions and only time will tell. If u look around Puchong especially near Kinrara and nearer to the city (from Puchong), there are not many with gated, guarded and with club house facilities. These are the things buyers are looking for these days. Furthermore I & P are not selling cheap anymore. Their Semi-D at BK9 called Chantek are currently sold at 1.8 M (40X80).

I agree with mrhawk that if the price difference between the 3 storey link house and the 2 storey Semi-D is small, people would go for the Semi-D. The difference has to be substanstial e.g. 3 storey at 1.1 M and Semi-D at 1.6M for people to opt for the 3 storey link house.

The only part "imperfect" about KR is the status of the land i.e leasehold. But these days many new developments are leasehold even in Damansara, Kota Damansara and PJ.
SUSUFO-ET
post Jan 26 2011, 12:33 PM

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If Kinrara Residence is freehold, wat you think the price would be? I hv changed my mindset since last year investing in leasehold properties, the entry point is lower but still insist landed and high land above 40m sea level
yoki
post Jan 26 2011, 12:38 PM

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i think there is some disadvange esp for leasehold landed when the area around is mostly freehold (BK), abit like handdicapped

leasehold condo still ok
SUSUFO-ET
post Jan 26 2011, 01:08 PM

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QUOTE(yoki @ Jan 26 2011, 12:38 PM)
i think there is some disadvange esp for leasehold landed when the area around is mostly freehold (BK), abit like handdicapped

leasehold condo still ok
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The cap between fh and leasehold is about 20%, no doubt freehold is perfect but if leasehold is 20% or more cheaper, I will choose leasehold, look at current Kinrara freehold link in BK9 and BK 6, is calling >RM360/sf, I would rather put my money for Mah Sing 3-story for only RM268/sf, 25% cheaper with much better layout and concept
noswear
post Jan 26 2011, 02:27 PM

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actually leasehold is fine especially you are buying million dollars property.

When you are buying million dollars property means you are rich and is subject to further house upgrading in the future...ie Semi D to Bungalow?? or ...hence the leasehold doesnt matter much to you....

for cases if you are planning to stay for life.......since you rich by buying million dollars house.,...so it wont be much a problem in renewing the leases in future.... lol .....

if for investment lagi not a problem...you will be flipping once it completed....so not much a problem rite??


of course if it is surrounded by freehold....pricing will be a little lower....but should be okay mah.........upside is still more a less the same in percentage term....for example BK house up by 10%....so KR should also more or less the same mah....


so those who bought KR link house and dun like leasehold....can sell to me at developer price....i dun mind to take 1 from u....LOL.....

Kinraraboy
post Jan 28 2011, 07:53 PM

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QUOTE(noswear @ Jan 26 2011, 02:27 PM)
actually leasehold is fine especially you are buying million dollars property.

When you are buying million dollars property means you are rich and is subject to further house upgrading in the future...ie Semi D to Bungalow?? or ...hence the leasehold doesnt matter much to you....

for cases if you are planning to stay for life.......since you rich by buying million dollars house.,...so it wont be much a problem in renewing the leases in future.... lol .....

if for investment lagi not a problem...you will be flipping once it completed....so not much a problem rite??
of course if it is surrounded by freehold....pricing will be a little lower....but should be okay mah.........upside is still more a less the same in percentage term....for example BK house up by 10%....so KR should also more or less the same mah....
so those who bought KR link house and dun like leasehold....can sell to me at developer price....i dun mind to take 1 from u....LOL.....
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I wonder how much will the 3 storey link house worth once it is completed?????? Definitely more than 1 M but how much above 1M ??? If it is too high, people will go for the Semi D. All comments are welcome.

SUSUFO-ET
post Jan 28 2011, 08:42 PM

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370/sf is quite fair = 1.22 mil is reachable
Kinraraboy
post Jan 30 2011, 03:59 PM

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QUOTE(UFO-ET @ Jan 28 2011, 08:42 PM)
370/sf is quite fair = 1.22 mil is reachable
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If the prices of the 3 storey link house are at RM 1.22M and semi-d at 1.5M respectively, which one will people choose??? My opinion is that people will go for the semi-d. If one can afford 1.22M, I am sure they can afford 1.5M.

We can not use the basis of comparison on the cost per sq feet for link house and a semi-d and likewise for a bungalow with a semi-d. If your prediction for the price of the 3 storeylink house is true i.e at RM 1.22M, the owners of the semi-d will definitely target their price above 1.8M. Just my opinion.
hakon
post Jan 30 2011, 05:18 PM

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i posted a similar post earlier in this thread... at 1.22m, why not just get jalil sutera or esplanad at a much much better location? plus freehold some more...
SUSUFO-ET
post Jan 30 2011, 10:08 PM

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QUOTE(hakon @ Jan 30 2011, 05:18 PM)
i posted a similar post earlier in this thread... at 1.22m, why not just get jalil sutera or esplanad at a much much better location? plus freehold some more...
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Tai Kor, my prediction for KR is 2 yrs down the road, I dun think you can get the same price for Jalil Sutera or Tmn Esplanad in 2013, be prepare to pay 1.3 mil-1.5 mil then...


Added on January 30, 2011, 10:28 pm
QUOTE(Kinraraboy @ Jan 30 2011, 03:59 PM)
If the prices of the  3 storey link house are at RM 1.22M and semi-d at 1.5M respectively, which one will people choose??? My opinion is that people will go for the semi-d. If one can afford 1.22M, I am sure they can afford 1.5M.

We can not use the basis of comparison on the cost per sq feet for link house and a semi-d and likewise for a bungalow with a semi-d. If your prediction for the price of the 3 storeylink house is true i.e at RM 1.22M, the owners of the semi-d will definitely target their price above 1.8M. Just my opinion.
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I never said semi-D no good, of course it is a class above superlink house, however the basis of RM/sf can still be applied, likewise Kinrara new link house fair value shd be RM350/sf now and the new ''std size'' Semi-D (Jewel, Pearl, Oasis) shd fetch fair judgement shd be between the range RM450-RM500/sf, RM/sf valuation might not be the accurate calculation, but I personally feels that it is the most relevant method to judge a property, one may check normally semi-d per sf price is about 1.5 times higher than link hse in any particular area. Look at KR semi-D, dun forget it is only 3037sf in bu area, so I think the max it can go shd be 1.65mil after CF, 1.8 mil is too much, buyer bukan bodohlah...

This post has been edited by UFO-ET: Jan 30 2011, 10:28 PM
mrhawk
post Jan 31 2011, 03:51 PM

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well well, the valuation topic has been heated up ever since i initiated it. now you know how tough the valuers' job is! i think if you ascribe a value based on break-up evaluation, ie taking certain advantages and disadvantages of a development and compare it against KR, is not a good valuation methodology. a property development must be reviewed holistically! Honestly, i really think KR will have more distinct advantages then other projects. no doubt Jalil Sutera and Tmn Esplanande or even Taman Kinrara have better location and freehold. but none of the project is offering complete gated guarded and clubhouse facilities. valuation purely based on fundamental may not entirely accurate now a days. People is lot more affluent, concept & lifestyle becoming important. Pick-up any valuation report, none is ascribing value of the intangibles. still the old comparison method. Come-on there are no such apple to apple comparison. Conclusion, if you believe, Malaysian GDP per capita will continue to rise, KR will shrine. Hence the valuation is really your outlook of what will happend in 3 years down the road. Ai ya if you want to make money 3 years down the road, you will know who to vote in the coming general election. hahahah......


Added on February 5, 2011, 4:45 amDear all, May the Rabbit year brings you abundance of health and wealth.

This post has been edited by mrhawk: Feb 5 2011, 04:45 AM
yoki
post Feb 14 2011, 03:01 PM

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seems very quiet lately on KR....
any new launch coming up?
SUSUFO-ET
post Feb 14 2011, 03:14 PM

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QUOTE(yoki @ Feb 14 2011, 03:01 PM)
seems very quiet lately on KR....
any new launch coming up?
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Enoughloh in Puchong, now hot hot cyberjaya, Bkt Jalil
many condos launched...

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