Hi,

New to this forum - just want to add a few points

Firstly, SG buyers should note that the so-called green area may not be permanent. I asked at their site office today and the saleman was very evasive. he just said that if they want to build something on the green area they will have to apply to DBKL.

Sounds like a classic sell a green concept first and next time, build something else on the extra land - especialy when they can buy up the remaining 3 bungalows beside the road.

Secondly - have you guys wondered why they are rushing to take your RM10K now instead of waiting till Dec/Jan to launch their project properly? Is it because they know we are basically in a property market balloon and it will burst soon? Seems to me UOA wants to close sales before the balloon burst.

I may be wrong but I thought I will share my views.

Last week I went to see a project in Dapansara perdana area -and those guys were even worse. They were taking RM5K booking for a project that they will only launch (as in sign S&P) sometime in 2011 or even 2012.

I have decided to stay away from property market until the view is clearer.

cheers

Yes. I forgot that point too. They have to move fast because of the 288 project.

In my view, the PV developments are the best value in Setapak area - location and price wise - but even their latest projects have become expensive.

Sorry for not being clear. Let me explain myself.

1. PV (Setapak Lake City) location is better because it is a large development - Parkson, hospital and so on will be very near. Also TAR college means rental no problem. Strategic location because can exit to many areas - MRR2, Sri Rampai/Jelatek, Gombak and of course Setapak road. SG and 288 is in a very small area with one small road leading to Gombak Road.

2. PV used to offer better value per sq feet - Phase 1 and 2 buyers made a lot of money. Phase 3 will be ready next year and there are indications of at least 30% appreciation when completed.

3. But best of all - if you want to buy any Platinum Victory property now you can forget it. I just called the office and they told me that Phase 4, Phase 5 and their shops all sold out. They have nothing left to sell for now. 100% sold out means definitely got property value appreciation in the future.

4. As for UOA's SG - As far as I know - they took years before they could sell all the units in Prima Setapak 2 along Jalan Gombak. Why? Because the properties were so overpriced.

5. On the current SG project - 13++ sq feet is around RM470 to RM 500K for those facing KLCC view. in my view, if there were still any PV uinits left I would have bought that. But all gone! So I will just wait until I see some other projects next time.

On that, we both agree. Setapak is a hidden gem. So close to the city but with reasonable property prices.

But overall, with the Bank Negara Governor probably putting in some curbs to buying properties (see excerpt below) I am cautious. But that is also because I have bought 2 properties last year and I think that is enough for now.

In short, SG or 288 - if buying to live there, go ahead. If investing, not so sure.

........

Friday October 29, 2010
Bank Negara likely to announce property curbs next week
By JAGDEV SINGH SIDHU
jagdev@thestar.com.my


KUALA LUMPUR: Bank Negara is expected to announce next week measures to curb
property speculation and a programme to create financial awareness for the
youth, said sources.

The introduction of a loan to value requirement for people buying their
third house or more has been talked about, but central bank governor Tan Sri
Dr Zeti Akhtar Aziz said any new rules regarding property loans would not be
a blanket clamp.

"We want to promote house ownership but we want it to be done in an orderly
manner and we don't want speculative activity,'' she said after a media
engagement programme at the Global Islamic Finance Forum.

"So, for first time house owners and perhaps even the second one, any new
rules will not apply.''

Zeti acknowledged there were pockets of property bubbles in the country, but
on the whole, steep property rises were not seen throughout the country.

"If we consider there is any imminent risk of a property bubble, of course
we will take pre-emptive action. We are not going to wait for the bubble to
happen before taking action,'' she said.

Just two points to make.


1. SG / 288 is closer to Jalan Pahang (and the city centre). No qustions about that. But if you live around here, you will want to go to facilities around here. On that score, PV is closer to the heart of everything. parkson, JJ, Wangsa Walk, Carrefour, food stalls, futsal courts, banks etc. Also, many alternatives mean that PV owners can get to city through Jelatek etc.

2. Prima Setapak 2 was overpriced when it was launched - very overpriced. At that time it was the most expensive property (per sq ft in Setapak.)

Agree!

But strongly suggest that you make sure that you have financial strength and holding power, just in case the market goes soft for a while