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Investment EVE SUITE @ ARA DAMANSARA [OWNERS' THREAD], New York Soho Concept + LRT Integration

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ju146
post Feb 27 2016, 10:35 PM

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just viewed the 1000+ unit today with an agent in lyn and my view as below

The unit itself
- the interior design is odd, especially the position of the 2nd room and the living hall
- master room design does not maximise its space. No place for wardrobe
- finishing is below average i.e paint, wreckage, cabinet installation
- Facilities are not bad. i would say above average except the pool view is facing the low cost flat sweat.gif sweat.gif

The surrounding
- That part of ara still the same. Full with low cost flat, rempit and road access is bad
- nearby competition is still strong when diaman ria and crimson are quite well maintained.

Conclusion. The subsales of 750psft is not a good take for me. I would say 650psft will be the max for eve suite...

my 1.5cent only...
KimiLau
post Feb 28 2016, 02:22 AM

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QUOTE(ju146 @ Feb 27 2016, 10:35 PM)
just viewed the 1000+ unit today with an agent in lyn and my view as below

The unit itself
- the interior design is odd, especially the position of the 2nd room and the living hall
- master room design does not maximise its space. No place for wardrobe
- finishing is below average i.e paint, wreckage, cabinet installation
- Facilities are not bad. i would say above average except the pool view is facing the low cost flat  sweat.gif  sweat.gif

The surrounding
- That part of ara still the same. Full with low cost flat, rempit and road access is bad
- nearby competition is still strong when diaman ria and crimson are quite well maintained.

Conclusion. The subsales of 750psft is not a good take for me. I would say 650psft will be the max for eve suite...

my 1.5cent only...
*
Not forgetting need to pass thru the stupid tunnel everyday
SUSjonathandeho
post Feb 28 2016, 05:01 AM

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My tenant complain Kao Kao on the morning traffic. My visit few days back is full of Africans
I hope it can change better for my friend unit to appreciate better value
ju146
post Feb 28 2016, 10:32 AM

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QUOTE(KimiLau @ Feb 28 2016, 02:22 AM)
Not forgetting need to pass thru the stupid tunnel everyday
*
QUOTE(jonathandeho @ Feb 28 2016, 05:01 AM)
My tenant complain Kao Kao on the morning traffic. My visit few days back is full of Africans
I hope it can change better for my friend unit to appreciate better value
*
somehow, i think Pacific Place could be a better choice over Eve Suite
Harddisk
post Feb 29 2016, 11:07 AM

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QUOTE(ju146 @ Feb 28 2016, 10:32 AM)
somehow, i think Pacific Place could be a better choice over Eve Suite
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PP could fetch better Rental rate/repayment ratio. But the traffic jam is the same over there too, cause traffic light after the tunnel.
puchongite
post Feb 29 2016, 11:16 AM

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QUOTE(ju146 @ Feb 27 2016, 10:35 PM)
just viewed the 1000+ unit today with an agent in lyn and my view as below

The unit itself
- the interior design is odd, especially the position of the 2nd room and the living hall
- master room design does not maximise its space. No place for wardrobe
- finishing is below average i.e paint, wreckage, cabinet installation
- Facilities are not bad. i would say above average except the pool view is facing the low cost flat  sweat.gif  sweat.gif

The surrounding
- That part of ara still the same. Full with low cost flat, rempit and road access is bad
- nearby competition is still strong when diaman ria and crimson are quite well maintained.

Conclusion. The subsales of 750psft is not a good take for me. I would say 650psft will be the max for eve suite...

my 1.5cent only...
*
But if you look at bottomline, is it really that bad ?

Launching price ~ 450k for 680 sf.
Rental = RM1800 per month
Current price = 530k

sweat.gif

kochin
post Feb 29 2016, 11:52 AM

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eve = freehold
pp = leasehold

to me, that is a big consideration.


ju146
post Feb 29 2016, 12:25 PM

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QUOTE(Harddisk @ Feb 29 2016, 11:07 AM)
PP could fetch better Rental rate/repayment ratio. But the traffic jam is the same over there too, cause traffic light after the tunnel.
*
If you are coming in from LDP, PP should be better because you dont have to pass by those low cost flat/rempit places to Eve Suite. Am i right to say that?

QUOTE(puchongite @ Feb 29 2016, 11:16 AM)
But if you look at bottomline, is it really that bad ?

Launching price ~ 450k for 680 sf.
Rental = RM1800 per month
Current price = 530k

sweat.gif
*
laugh.gif laugh.gif

QUOTE(kochin @ Feb 29 2016, 11:52 AM)
eve = freehold
pp = leasehold

to me, that is a big consideration.
*
Dear daiko, yes FH and LH is key consideration. But somehow for me, it doesn't matters much for high rise.
minglibing
post Feb 29 2016, 01:38 PM

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QUOTE(jonathandeho @ Feb 28 2016, 05:01 AM)
My tenant complain Kao Kao on the morning traffic. My visit few days back is full of Africans
I hope it can change better for my friend unit to appreciate better value
*
Is it jammed up badly towards NKVE and Federal Highway in the morning?
HarpArtist
post Feb 29 2016, 02:00 PM

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QUOTE(puchongite @ Feb 29 2016, 11:16 AM)
But if you look at bottomline, is it really that bad ?

Launching price ~ 450k for 680 sf.
Rental = RM1800 per month
Current price = 530k

sweat.gif
*
launching price 450. how long ago was that? 4 years?
sks
post Feb 29 2016, 02:35 PM

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The traffic is bad due to the LRT related construction especially on the main road of Subang. Hopefully it will be better when its completed.
Its hard to compare with PP as it is a different product altogether, then again, the yield calculation should be the same. The targeted customer would have a different point of view when they compared eve and PP for example.
I would say the on going property development should be more relevant for comparison, eg oasis, h2O, ara green , condo besides citta mall etc.
Of course some discount should be factored in for eve rental and selling price as compared to newer properties when ready.

800 plus average psf on current going development prices partly furnished or none(especially Sime Darby projects), therefore the asking price for eve rental and selling should be hovering about same price or slightly higher as of now unless the economy take another nasty turn. Then again, with the current resonable interest rate, most able owners should be able to hang on.
As mentioned, its important for owners to be choosy and rent out to quality tenants and watch out on the maintenance quality. Like it or not , LRT will still be a boon as its just next door.Hopefully it will, not be too noisy and cause a claustrophobic traffic around that area.
Harddisk
post Feb 29 2016, 02:45 PM

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QUOTE(ju146 @ Feb 29 2016, 12:25 PM)
If you are coming in from LDP, PP should be better because you dont have to pass by those low cost flat/rempit places to Eve Suite. Am i right to say that?
*
There are still some flats before PP. Just look at the few towers to your left as you passing through the landed housing (on your right).
Harddisk
post Feb 29 2016, 02:45 PM

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QUOTE(HarpArtist @ Feb 29 2016, 02:00 PM)
launching price 450. how long ago was that? 4 years?
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Some purchasers got it for as low as 360k.
Harddisk
post Feb 29 2016, 02:47 PM

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QUOTE(sks @ Feb 29 2016, 02:35 PM)
Hopefully it will, not be too noisy and cause a claustrophobic traffic around that area.
*
Worry not the noise from slow moving traffic but the bit fat 8-lane monster highway instead.
HarpArtist
post Feb 29 2016, 02:51 PM

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QUOTE(Harddisk @ Feb 29 2016, 02:45 PM)
Some purchasers got it for as low as 360k.
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probably still has alot of room for growth as lrt is not operational yet.
Shinyrayn
post Mar 9 2016, 10:52 AM

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Not to be racist but the rempits with their low level of education/probably school dropouts are nuisance to me everytime going home to Eve after work.
I dare not want to think about cars parking haphazardly once the LRT commences. It is such a hassle.
Shinyrayn
post Mar 9 2016, 10:53 AM

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Btw, i was imformed by one of the contractors that LRT will commence in June 3rd
Shinyrayn
post Mar 9 2016, 10:56 AM

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Not sure if ria or Crimson are low cost flats but the people staying there seemed 'low cost'esp Crimson. I have noticed cars and motors going in and out easily and people are of not that 'high cost'.
puchongite
post Mar 9 2016, 11:15 AM

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QUOTE(HarpArtist @ Feb 29 2016, 02:51 PM)
probably still has alot of room for growth as lrt is not operational yet.
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I tend to think people over optimistic about the power of LRT.

We can see the Bukit Jalil condos as example, many got into the market recently and the LRT is currently operational. But the rental market for those condo is still fair weak.

The main deciding factor will be the economy of the country or the outlook of the property market. LRT is mostly just an icing on the cake. When the cake is nice, the icing enhances it.
HarpArtist
post Mar 9 2016, 11:18 AM

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QUOTE(puchongite @ Mar 9 2016, 11:15 AM)
I tend to think people over optimistic about the power of LRT.

We can see the Bukit Jalil condos as example, many got into the market recently and the LRT is currently operational. But the rental market for those condo is still fair weak.

The main deciding factor will be the economy of the country or the outlook of the property market. LRT is mostly just an icing on the cake. When the cake is nice, the icing enhances it.
*
BJ supply is enormous and far over demand. whats the demand/supply like in AD? just as much?

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