i think one need to keep a sense of perspective of things here.
First, it is up to everyone to make their own judgement on the property described here but let's consider a few facts. The way some posters here swings from yes to no and back to yes and then no shows that they need to get a grip of things.
1. it is correct that the developer has not put up the necessary approval for it. However, they did not sell anything to anyone yet. To me, to launch this way without having a "sure thing" in the pocket is committing suicide in the market. Secondly, a lot of their own people who follow on the first round of purchase including themselves will suffer. So, i am sure they have taken cognizance of the fact of these matters with this launch campaign.
2. what you are making is a contract for a booking base on an offered price for that unit. IF you agree, then you sign on that contract of booking.
3. should you decide not to take up the offer later, you can withdraw. Should the offer deviate from what was offered, you can take up the new price or withdraw. You get your money back as the terms mentioned in that letter of agreement is deposit for a booking. Yes the price can change, but i would assume the developer will try not to do that. It will piss a lot of people off so they should have priced it accordingly in view of possible changes or so on. Also in future, no one will like to take up these kind of booking with them as they have become the boy who cried wolf too many times.
4. the money is held with a stakeholder lawyer assigned to some floors. This is quite normal, the only worry is if the stakeholder lawyer cabut, then both the developer and the potential customer has some real problems. This is also good if the lawyer does his job as the developer do close shop next door and cabut with the money (just 5K from everyone - this would be a stupid way to cheat money).
5. internal purchase can be a good or bad thing depending on how you see it. For eg, a lousy developer uses this method to jack up the demand of the property. However, if this was the old Sunrise or YTL and they offer you a special preview sales (exclusive not for everyone) with special discount and other freebies because you are family members, or business partners or main con or sub con or suppliers etc, my question is, WOULD YOU TAKE IT? So it depends on the developer. To me, a sure sign is when the suppliers, business partners, even their panel lawyers are whacking the units, then it means everyone generally have confidence in dealing with this developer - much like buying into their IPO.
6. Historically, properties with reputable developers will have a lot of people beating down the door to get these offers because the first round will have a higher appreciation than those who comes in later. This is quite common , everyone who buys a property should know this. If the other way is happening, then you SHOULD not buy that property because it is simply going down ie discounts is given to keep increasing sales or meeting targets
7. What is the market rates of properties launch around the surrounding areas? Can a new launch be cheaper if the specifications are around the same category? (this makes no sense from a developer point of view - the whole purpose of doing development business is to push the value of their development higher - this is good for their profit and also for their purchasers whose properties will appreciate - you need the two to happen to gain momentum otherwise mati) This should be your basis for comparison notwithstanding if the property values are "overpriced" now. The question is, if the bubble do get pricked, how much lower can it go? This affects the whole Klang Valley in general.
8. The LRT to be built is a sure thing. The position is right across Bukit OUG. The Z Residence is situated behind Bukit OUG - walking distance is a bit further but bukit OUG is really run down looking now. I doubt they can get their act together now to refurbish it well. I would not be surprised if the rent is correspondingly around the same or slightly higher with better facilities, some will migrate from that side to the new properties. Properties nearby to such facilities normally hold their values. What i was surprised to discover was, rental is actually quite strong in Bukit OUG indicating either the price is good or the access from this location is good for a segment of population this area.
9. Lai Ming school is going to be built there. Over the years, as it is the norm now, families with school going children will move to these areas where the top schools are until the kids are grown up and will leave the school. The cycle will repeat itself. Whether in terms of resale market or rental, these cycles will go on unless the school screws up and change into a sekolah kebangsaan biasa (horrors of horrors).
10. I am not sure of the JJ thing though this was discussed in other forum. If that is happening, then even better for the complete area there. It has sufficient catchment of residential around to sustain it. Locating it next to the LRT is a no brainer, question is if this can be worked out by the different parties.
11. The issue of traffic is a valid question - two things can happen, one is the roads remain as it is which is a real screw up and has happened to some properties within klang valley even in high end area but over time, these issues will be resolved one way or another. I would look at this way, it make no sense to put two LRT within that vicinity if the government do not also realign roads for ingress and egress of that area so that other surrounding areas can tap into these facilities. So, in the larger picture of things, something of that will have to happen. The question is the issue of time. As it is, the condo will take around 2-3 years before it materialize, and the LRT construction is beginning now, so let's see.
Therefore the question you should ask is :
1. do you have the funds to buy it either for staying or investment? (if you don't have the funds then don't even consider)
2. if yes, then do you want to buy this place?
3. if yes, then make a booking. It is after all just a booking, a contract where both parties agree to come and sign in around June for the actual S&P with both parties having the option to withdraw. Don't like, feel cheated, feel scared, then withdraw lah. IF you then decide in June you want, the price already goreng to higher value, then as i mentioned above, you have only yourself to blame.
4. lastly, is this the kind of developer you want to "follow"? Do your own homework.
The way some of you are beating yourself to death is as though you will buy now. No, if you want, book and then wait and see what happens next. It is a different issue, if you are committed to buy in terms of signing an actual S&P. If you do not book and you come in the end of the tailwind of this sales campaign, then maybe you will also kick yourself. So this everyone has to consider for themselves really.
Lastly the very fact that so much discussions and this thread has spun so long shows that the targeted marketing effect has been successful. I think the Trinity group is one developer who has long legs to go - would be interesting to keep an eye on them and their future works.
*disclaimer - i have no business relation to them in any way but i did booked a unit*
The Z Residence @ Bukit Jalil, Another project by Trinity Group
Apr 1 2011, 01:37 AM
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