Interesting. Any reason why it was highly recommended? 

Think the offices are better bets than the residentials............. 

u dont need to worry about ppl saying this property is "expensive"

because u worked overseas and by being able to buy expensive, your property could be even more expensive (in terms of capital values) in the future....

mesti crazy price with crazy jam one..

wow.. you are very active, see you in another forum. You full time in property invertment?

Which Bangsar is selling at 1100psf? Bangsar South? Bangsar Trade Centre? Real Bangsar? You know developer in KL like to use glamour name to confuse those that didn't do enough homework.

Like Damansara, we have Damansara Height, Mutiara Damansara, Damansara Flora, Damansara Damai, Kota Damansara, Damansara Indah, Damansara Perdana...some of the Damansara cannot make money one.

Your friend jump, you jump also... Unless your friend is very good in properties investment, otherwise, I would advise you do you homework and study carefully.

Cannot deny that SP Setia is top developer but also cannot deny that you will sure make money from them. Now, all these "Top" developers are selling at record high price and make you harder to make more money compared to before.

So, my advice is, please consult someone knows quite well about KL property market or post your questions here.

Cheers!     

froglai,
would you be able to share with other 3/4 properties that you have bought?
you came into KL property scene only early this year?

how much you paid for KLEC and The Element? From purchase price, probably we can see whether it is worth to invest on these 2 prop especially for rental yield. Remember, sales agent is sweet in closing deal.

Boss, what is your plan for KLEC and The Element?

KLEC - 2 br
The Element - 3 br

From the investment perspective, you should get small unit of The Element or 2 br.

With that million price tag for both properties, what is your plan for it? Flip or rent out?

For rent, I don't know how much you want to rent out.

For rental purpose, I don't know whether you can cover it or up.

I would go for subsale for The Element + KLEC equivalent properties.

For The Element - You can consider nearby subsale condo such as Suria Jelatek, Riana Green East, Seri Maya. At least these condos much much cheaper than The Element and you know the rental as well. I don't foresee The Element will fetch very high rental because it is around 1000 units in total and you need to fight with M City, M Suite, Olive 108...
Few months ago, when I went to The Element, the sale was not that great, 50% of one of the 2 blocks sold out and another block hasn't open up for sale yet...so this translate to around 20% to 30% sold in total of the development. That was few months ago. I don't know now but probably within the same figure or maybe slightly better.

For KLEC, probably this is better bet than The Element but the price is too high. You can probably go and get subsale of Northpoint http://www.iproperty.com.my/propertylistin...ominium_ForSale

so all in all, I think you know my stand on these 2 projects. Of course if your pocket is deep enough, then no issue for you.

Good luck and hope to revisit this 3 or 4 years from now.

btw, with 2 mthly loan repayment more than 11k+ for 2 properties, which mean on average 5.5K for each prop: KLEC + The Element but I believe the repayment for KLEC is more, right?

now let us do some maths here:

Assume that you just breakeven only, excluding maintenance fees
KLEC - rental 5.5K
The Element - rental 5.5K

((11k x 12) / 2.3M ) x 100% = 5.7% rental yield...is it attractive?

But the big question is, can The Element commands that rental?    But KLEC probably can achieve.

So if we go further, include the maintenance fees and ++ cost, I think the rental yield even lower...if you can get between 4% to 5.7%, then you should be happy but bleeding every month...

Please don't get me wrong, I am not scaring you, but sharing the hard true fact.

ok, now let us see what you can do with 11k+ monthly installment?
- with 2.3M, I think you can get 5 units of Titiwangsa Sentral and assume that each units give you rental of 2.5K per month. Hence

  ((2.5k x 5 x 12) / 2.3M) x 100% = 6.5% rental yield...is it more attractive?

- Getting TS units and you can immediate rent it out and don't need to wait unit 2013/14...
- More liquid and any time you can sell 1 or 2 units.
- but TS is not high end / luxury type...cater for bigger market.
- I am not promoting TS and just take it as case study only.
- I know some forumers will attack me later but welcome your -ve or +ve points.

if there is u-turn, then life will be much better...What Pai said is right..

sure we can sit down for a drink++

just ping me few days beforehand.

Cheers!

---

Added on September 23, 2011, 11:27 amMore downside coming?

SP Setia: Sales started weakening
                             
Underperform (down from Market perform)

3QFY11 Results

¨  3QFY11 core net profit of RM91.2m (+57.2% yoy; +46.6% qoq) came in above our expectation but in line with market consensus.....

From RHB Research

equally out of this world expensive maybe.........
i have been quite negative one these 2 projects...maybe becos i cant afford them
feeling sour

normally pple get 3% off yes?

Are there any more units left? Anyone been to their sales office recently?

I contacted them, they said there are still units available, price is RM1200sq.m