Hi Sifus, thanks in advance for your advice!

After weeks of reseach , i'm now seriously considering getting an old condo in Mont Kiara for own stay, i.e Kiara Pelangi, Pines, Palma or Sophia.

While the property agent told me that expats (japanese/koreas) love these condos, i am worried that once the expats decided to move to newer condos, the occupancy would drop significantly. Hence i would appreciate it if anyone could advise me the following:

1) Is my concern on the occupancy rate valid and whether there has been a trend where expats are moving out from older condos?
2) I would appreciate it very much if you could share with me the current occupancy rates of these condos as i wasn't able to get hold of the infomation or advise on where i can get hold of this information?
3）Will the current LTV Cap affect the prices of these (older) condos in Mont Kiara? Shall i wait first and if yes, how long?

Many thanks!

get pines. next door got new commercial area coming up.

if can get MK10 i thk it better. alot client like it too^^

A lot of my friends chose to buy Kiaramas for own stay

hi, thank you for the advise, any idea whether pines' occupancy rate is higher than the others? thanks!

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Added on November 7, 2010, 10:29 pmhi, thank you for the info, but MK10 is way to high end for me.

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Added on November 7, 2010, 10:30 pmhi, thanks! but i can't afford Kiaramas either, my budget is around 500K only, thanks for your input anyway！

with my budget, i think i can only afford older condos, or the smaller units in laman suria or casa kiara 1.

This post has been edited by dreamadream: Nov 7 2010, 10:33 PM

Check the price trend for the condo you are interested in. If it has remained stable or dropped over the past few years it is unlikely to be affected much.

Hi, does anyone know roughly how much is the yearly assessment and insurance payment for one of these condos? Any other hidden cost that i need to take into consideration besides the maintenance fees?

Many thanks!

what about windsdor tower ? I think it's quite a nice place for own stay !!! and it's very near to plaza damas so u will never need to worry about it !!!

This post has been edited by Adrian1981: Nov 8 2010, 09:59 AM

windsor tower is more commercialised, compared to kiara pines, palma, etc...
but occupancy rate dropping shouldnt be a major concern.. cos u buying for homestay.. not looking for tenants to rent..

windsor tower. u fancy staying on top of a shopping complex? points to consider
most people prefer a real condo

This post has been edited by airline: Nov 9 2010, 11:02 AM

Hi Thanks! the older condos' prices actually dropped during the crisis but rebounded since early this year. I hv observed that over the past 1 month prices hv been stable, but is 1 month too short a period to tell?

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Added on November 9, 2010, 11:55 pmDon't you think that without neighbours could be quite scary

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Added on November 9, 2010, 11:57 pmyeah, thank you for the suggestion adrian, but like what dream.angels and ariline mentioned, i'd prefer a real condo



This post has been edited by dreamadream: Nov 9 2010, 11:57 PM

can try KDS...still new, still looks quite solid good for own stay

I have also been searching around Mont Kiara and I believe that most expats are moving out of older units to new units in Solaris. I also wonder about the rentability of this older units? Anyone can comment how easy to get a tenant for this older units and at what price?

Hi Yoki, thank you for your suggestion! am looking at KDS as well, but the price seems to be stubbornly high at the moment. Not sure whether the price will drop a bit after other newer condos along jalan kiara 3 complete?

I am still looking around coz buying for own stay

dreamadream,
my 2 cents worth to u, mate!
things for your pondering.
KDS is COMMERCIAL status therefore higher assessment bills and utility bills and etc.
Pines is kinda old but still 'tolerable'. you may want to consider Palma (low density with plenty of greens), Sophia, Pelangi. Alternative would be to hop on to Solaris Dutamas but commercial status again but with plenty of amenities or within your doorstep.
Laman Suria is also kinda okay.
I presume you intend to purchase Sunrise's property above others?
Else there's 2 condo sandwiched between the UOA villas and MKIS is also kinda good and affordable.

Tenants moving out.
Confirmed it is a trend. What the expat does is they are allowed a fixed budget for accomodation. So naturally they will always 'hop' onto new developments within their fixed allowance. I know a few expat (even with family) doing that for years in MK area. They just continue to jump to new developments till they leave the country.
Please note that with each new completion of new condos there, the surrounding condos usually drop in value (slightly) immediately due to existing owner's tenants moving out to the new phase.
cheers!

no prob mate..btw
what is the asking price for KDS?
i.e 1k sqf and 1.2k sqf

Asking price for KDS? I believe it is still running at sub RM500 psf...
Kochin - are you sure KDS' assessment + utilities are commercial rates?

absolutely! it's serviced apartments to be precise. definitely not condominiums!
KDS stands for kiara designer suites.
when was the last time you ever heard a residential development project name with suites???!!

This post has been edited by kochin: Nov 18 2010, 11:57 AM

still on the high side eh...try to low ball abit i.e $420-$450...
time is on our side....MK residential is super over gluth i think.....

A few months back, developer still has about 10 units , asking for slightly more than RM400 psf.