I'm sure this year and next year this thread will become even more popular.
Your Worst Property Invesment, Share your story
Your Worst Property Invesment, Share your story
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May 20 2019, 09:13 PM
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#1
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1,018 posts Joined: May 2011 |
I'm sure this year and next year this thread will become even more popular.
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May 20 2019, 09:39 PM
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May 20 2019, 10:05 PM
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QUOTE(Bjorn1688 @ May 20 2019, 09:54 PM) Worst? One of the main reasons why I never buy new developments. Reputable developers always sell at a huge premium, and the unknown ones almost always deliver shoddy work.Property Name : The Avare. Location : KLCC. Price paid in 2008 : RM7XXpsf (with a small rebate) Size : 3800sf. Price sold in 2019 : RM830psf after trying for 2 years. That however wasn't the worst part to it. The actual worse thing of it was the shocking build quality for such a development. Promised a 6* but given at best a 3* quality. Upon VP many things did not work with the unit and it was leaky as well. Defects? Took forever to rectify and a few times the rectification made it worse. All the owners filed a class action suit against the developer, by then the word had long spread far and wide, place sucked and as such values started tanking. Thankfully for much of its time under my ownership it was never vacant. Therefore rental covered the maintenance and commitments. Total spent on repairs and maintenance from VP to disposal : RM46000 Good riddance piece of shit. You WON'T be missed. Lesson learned : Never EVER buy a property especially a high end property from a developer you never heard off, you do not trust and have doubts they could deliver. |
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