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Investment M CITY, JALAN AMPANG [OWNERS' THREAD], Mah Sing presents its most iconic

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Takuro82
post Sep 22 2015, 09:39 PM

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Do keep us update on the progress of VP and house condition after VP.. Hope no serious defect appear
Takuro82
post Dec 9 2015, 11:18 PM

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QUOTE(Jagalat @ Dec 9 2015, 09:51 PM)
From the Idaman site, most of the MCity's overall units are about 50%-50% by local owners vs foreigner owner(Slightly overall > 50%).
http://idaman2.kpkt.gov.my:8888/idv5/98_eH...proj_Nama=Mcity

On the other hand, nearby properties, eg MSuites and The Element (random pulls) are owned by locals.
http://idaman2.kpkt.gov.my:8888/idv5/98_eH...Nama=M%20suites
http://idaman2.kpkt.gov.my:8888/idv5/98_eH...=THE%20ELEMENTS

Understand some properties along the Embassy row/nearby are mainly owned by foreigners.
http://idaman2.kpkt.gov.my:8888/idv5/98_eH..._Nama=drapport1
http://idaman2.kpkt.gov.my:8888/idv5/98_eH..._Nama=drapport2

(The Idaman site may not reflect the lastest information. Pls no question to me)
I am curious to know the advantages and disadvantages of this situation (ie local-foreigner 50%-50%) towards the rental play and the subsale market.
Any input?? Thanks.
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How to get this report? Is it the report available for certain project only?
Takuro82
post Dec 10 2015, 11:59 AM

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QUOTE(Jagalat @ Dec 10 2015, 08:37 AM)
You may refer to the following post about how to construct the link. As long as Idaman had the project data, it will be reported..
https://forum.lowyat.net/topic/2691655/+538

My intention is not the Idaman, but the pros and cons  of local-foreigner ownership trend (50%-50%) towards the rental play and the subsale market.
Need investor's input..
Thx again.
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Thank you Jagalat. I able to find my project already. The foreign investment of my project just limit to 2-3% only. Maybe due to property in Selangor RM2,000,000 and below cannot sell to foreign investor. So if a project has very high percentage of foreigner, this may reflect that the property price also very high.

As for Selangor case, state government had prohibited foreign investor to invest in property that is below than RM 2million.
I think for subsale, it is quite difficult to sell out as the buyer poll is limited also. Also, the balance unit of those hot selling project usually is those big unit with more than RM 1million and above.

For rental wise, I think in Malaysia, generally you just can expect for 2~3% annual return. Unless it is located some hot spot, then you may expect 4 ~ 5%.
You imagine, if you bought a 1200sf 3 room apartment with RM 1million. Do you think you able to rent out with RM 3500 easily?
If you able to rent out, then congratulation, you have a return on 4.2% per annual.

Takuro82
post Dec 10 2015, 04:30 PM

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QUOTE(gks @ Dec 10 2015, 02:30 PM)
Whenever a project has high foreigner purchase content, it is either holiday home or more likely for investment i.e. flip or rental. If for rental, normally they leave it to agent to manage and vet the profile of the tenant. Most of the time, agents just focus on getting the unit to be rented out and ignore the profile and as long as can collect the rental.

They also might have higher holding power and they choose to leave it empty. They also can choose to foregone the loan in case they think the property is not profitable and allow the bank to auction off the units.

Second issue is the maintenance fee collection issue where management office will have little avenue to collect it from the oversea buyers if they choose not to pay on time.

Conclusion, i will be very wary to invest in property where the owners are majority foreigners.
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Is this the common situation that actual facing by this kind of property?
M Suites and The Element already VP one?

How about the situation of those KLCC properties? I believed those area has more foreign investor
Takuro82
post Dec 11 2015, 12:38 PM

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QUOTE(accetera @ Dec 11 2015, 01:27 AM)
Higher foreigners here in M City is becoz of Taiwan Realty which has turned into a sour relationship to some extent with the developer.

A very famous story in KL among developers.
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What happen to those investor?
They will try to dispose the properties once VP?
Takuro82
post Feb 5 2016, 12:57 PM

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QUOTE(odieboy @ Feb 5 2016, 05:50 AM)
They are taking what Tan Sri Leong's press statement as gospel truth. He said MCity and Icon City handover in June. Mana Ada CCC issued now? Happy CNY to all. Pray hard that MS does not behave like irresponsible monkey handover half baked units to purchasers.
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Icon city when will handover?
Takuro82
post Feb 21 2016, 08:09 PM

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QUOTE(azeL_Inc @ Feb 21 2016, 05:49 PM)
I have no idea on the launch price, quoted around 1.46mil for 977 sqft, before disc
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new price after rebate is 1120 psf.. Before is 1500 psf
Cheapest is 650 psf?
Takuro82
post Mar 15 2016, 10:43 PM

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nice to hear this good news.. congratulation to all the buyers n developer
Takuro82
post Apr 2 2016, 08:13 AM

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QUOTE(wil-i-am @ Apr 2 2016, 06:02 AM)
Which is worst, EC or tis 1?
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I suppose the rest of the area of Ram999 should be ok.
With this kind of photo compare to EC, champion goes to who? I think everybody has clue..
Takuro82
post May 4 2016, 03:22 PM

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QUOTE(amsjrt @ May 4 2016, 04:47 AM)
Hiya, I have collected keys for my block A unit and also collected the LAD payments. I am pleased that once you paid all outstanding payments, they will mention the LAD payments (without me asking!)....so very impressed with their attitude.

Also I have done my inspection, and the quality of the work is very good indeed...some minor defects but generally impressed again...now waiting for the supermarket to open and for tenants to start moving in..smile.gif
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What is the outstanding payment they ask for?
Roughly how much?
And LAD is over the outstanding payment figure?

Takuro82
post May 4 2016, 10:46 PM

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QUOTE(csvlee @ May 4 2016, 07:52 PM)
May I ask how many months of LD was paid to you?

Based on my SPA they are late by about 9 months for Block 2. At 10%pa for unit and 10% of 20% for facilities, it over RM 50k already.

Also, how was it paid to you, direct deposit to account? I read one of the post that the buyer got paid 3 days after key collection. That would be impressive.
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That is really a lot!
If you wish to buy for invest, the LAD can be your best investment return.. Those outstanding payment really like nothing.
Takuro82
post May 5 2016, 02:28 PM

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QUOTE(aberdeen @ May 5 2016, 11:42 AM)
I think it looks great...like a formidable black fortress! The brave and bold solid black made it an iconic building in Ampang...
[attachmentid=6561815]
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Their another project Icon City also same....black fortress sweat.gif
Attached Image
Takuro82
post May 16 2016, 10:08 AM

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QUOTE(amsjrt @ May 16 2016, 12:59 AM)
That is correct. You have to check yout SPA. Everyone will be different. Another way is to check with mahsing.
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It mean those recently bought one will not have LAD payment?
Only those very early batch will have LAD payment?
Takuro82
post May 18 2016, 01:29 PM

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QUOTE(ace77 @ May 18 2016, 10:21 AM)
I do not see any reason that u worrying on the delay unless u want to move in ASAP. Coz most buyers are damn happy. MS pay in full.
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If unlimited delay then it will be most happy to investor of Mahsing coz those LAD will be the best investment return for them. Just they cannot unload the property or the developer run away
Takuro82
post May 18 2016, 01:32 PM

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QUOTE(amsjrt @ May 17 2016, 02:42 AM)
That would be my guess but i think someone who bought block 2 actually have a few months of LAD as well. So which block did you buy and is it recently?

From memory, in the S&P, the date on the front cover is the S&P date, then in one of the section, it will state the number of months that it needs to complete it by. So you then add the number of months to the S&P date to work out when your unit needs to be delivered by. The LAD payment is worked out based on the period it is late from that date.
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I not buying in this but other project. S&P before GST implementation. Last batch of the buyer before GST.
If say 44 months, it need to be end of 2018 to be 44 months cry.gif
almost impossible to get LAD
Takuro82
post Sep 25 2016, 02:23 PM

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QUOTE(Rash_778 @ Sep 25 2016, 11:36 AM)
For M-City- electricity bill follows residential rate; But water bill follows commercial rate.
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Why can double standard one?

Takuro82
post Mar 23 2017, 02:48 PM

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How many % commercial lot is occupied by tenant now?
Takuro82
post Mar 23 2017, 03:26 PM

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QUOTE(meraboy @ Mar 23 2017, 01:54 PM)
All 54 units retails were sold off.
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Out of 54 units, how many unit start to open for business?
Takuro82
post Mar 24 2017, 03:37 PM

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How about Tower 1 and Tower 2 residence occupancy rate?
Roughly how many % fill up by tenant now
Takuro82
post Mar 24 2017, 07:15 PM

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Wow.. thought M City also going to be fail project ?

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