QUOTE(Maxsimax @ Oct 21 2010, 11:51 AM)
Well, if the initial price was originally RM200+k or RM300+k as stated by our members, surely the developer has already factored in all the cost as well as profits that they required (My opinion only). I believe this to be the principal in capital planning / investment. For the price to go higher and higher would only gives the impression that the developer wanna profit more and more based on the current trend.
*IF* initially, the developer is already profiting 50%, in the end, they might profit for more than 100%...
If you look at the landed properties around, especially in melawati areas, you may find the prices to be in a range between RM300-400+k. So, what justify the high price for the project..as well as all the hyped up prices for projects around KL/Selangor remains to be speculated, I'm afraid....again, just my thoughts. However, if one would to buy for own stay, still can consider...but, for investment, I might rather splash my cash to those landed property around there, although it may be quite old.
good to see so many feedback after my posting earlier.
i'm buying for investment together with a few partners. so our capital vested would still be low, <RM15-20k per person. we don't mind making less money as long as make money will do. of course, don't hope will lose lah.
3residen did not finish selling mainly because the project 'changed' hand before. although i can't confirm this but from what i'd remember, 3 residen started by other developers selling from rm1xxk onwards. then after awhile only sime took over and started selling like rm4xxk per unit. that is why the sales is reluctant to move. can you imagine paying rm2xxk more for the same unit?
i am using riana green east as a test case. it's doing rather remarkably well for that area. and for a catchment area as big as melawati, there are bound to be a handful of residents who wish to stay in highrise, higher end development. as what a lot of taikor mentioned, the surrounding is cheaper area. landed are also at similiar prices. from history, there should be a group who wants to break out from there. and fortunate or unfortunate, saville seems to be the option to them. when ameera and 5 stones of sdb started selling in ss2, everybody also say sdb gila!
a lot of tarcians also left behind after they graduate. they would continue staying in melawati after joining the working force. this is another big group that wants to upgrade.
having said so, the cons are definitely there as well. PV offers so much more compare to saville price per square feet wise. but on the other end of mrr2, this seems like the only development there besides the exorbitant 3residen. 408 units isn't really a lot compared to other launches which goes up to >1000 units like empire city. chances for flipping would still be there, i think. at least even if people starts to throw prices, it's less damaging compared to >1000 units.
the other crucial factor is metro kajang itself. so far the developer is 'considered' reliable by handing over numerous projects including pelangi sentral, pelangi damansara, saville @ OKR, etc. their pelangi series isn't that impressive but to me saville @ okr is quite decent in terms of looks and design. therefore, by having the ONLY stand out development in that particular area might just what makes it a success. i am referring to sentul east as another example where it raises sentul as a whole.
the above seems biased as i'm quite interested in the development. but as other forummers mentioned, if rm401k for 901 sq ft? then it might not be a feasible buy anymore.
lastly, i would settle for anything at yield of 5.5% actually.