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

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puchongite
post Jan 19 2016, 02:56 PM

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QUOTE(Shinyrayn @ Jan 19 2016, 02:46 PM)
Eve suite is primarily catered to upper middle class occupants hence the higher than usual rental rates. Compare to Crimson and Ria which have much lower rental rates clearly distinguishes Eve's upper class occupants.
Problem is the low cost flats surrounding the vicinity makes Eve looks cheaper than other similar class condo in ara damansara
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Register a new nick just to reply my post ? rolleyes.gif




puchongite
post Jan 19 2016, 04:48 PM

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QUOTE(kochin @ Jan 19 2016, 04:13 PM)
it doesn't matter if this particular station is completed. they need all the other stations connected to the rail to be completed as well.
it would seems those station at puchong and subang jaya is still far from completion compared to this particular station.
hence i am expecting a delay for it to be operational.
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I thought I read that Ampang Line extension is targeted at March, KJ line extension will be June.

So depending LRT for a major boost in demand and rental ? Slim chance.
puchongite
post Jan 20 2016, 07:26 AM

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QUOTE(Shinyrayn @ Jan 20 2016, 12:11 AM)
A bit off topic, recently seen a lot of africans occupying units in Eve suite. Given the upper range of rental price of at least RM1600/month, wonder how these african students(presumely they are) can afford?
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I think they can afford. Maybe they cramp 3 people into the 680 sf. Or maybe they short pay rental a few months and run away after that. Or maybe their "part time businesses" are doing well so paying such rental is sap sap sui.

What I am more interested to know if the rental of at least rm 1600 per month is real or just asking price. Is it the location, the furnishing or what factors which allows a 680 sf unit to charge for rm 1600 rental.
puchongite
post Jan 20 2016, 10:31 AM

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QUOTE(Shinyrayn @ Jan 20 2016, 10:24 AM)
Min rental is RM1600/month for 680sqf and RM2300-2400/pm for 1080sf. Its the funishing and the full condo facilities. Eve suite is the most expensive and upper class feel compare to the rest in NZX. Ria and Crimson only fetch RM1300 max for 3 bedroom tells you how the vast differences in quality between the 3
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Thanks for the insight. So the online published rates are real. How much maintenance for the 680 sf and 1080 sf ?

If furnishing is a way to increase rental yield I would consider adding those my my props (at other locations).
puchongite
post Jan 20 2016, 10:48 AM

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QUOTE(LDP @ Jan 20 2016, 10:38 AM)
R u sure eve is giving the upper class feel ? The commercial is dead except for the mamak. The interior finishing is not top notch at all...

The bathroom lagi headache...glass transparent...can you shower when there are visitors ?
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Yes, transparent bathroom is an indication of high class. Yes, bath when have visitors improves the relationship with the visitor. tongue.gif
puchongite
post Jan 20 2016, 01:08 PM

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QUOTE(Shinyrayn @ Jan 20 2016, 11:55 AM)
Just hope the LRT will start soon, then the shops will open one by one. One cafe is already open something wood.....wonder will we residents get a grocery shop like Jaya Grocers or something classy
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According to some old published news, the new Kelana Jaya line will be launched in two phases, with station 1 to 7 in phase one while station 8 to 13 in phase two.

However, the two phases launch is no more mentioned in later news.

This news below said that the KJ extension will only open in June 2016, maybe that's the phase 1.

http://www.thestar.com.my/metro/community/...rk-in-township/

puchongite
post Jan 20 2016, 01:57 PM

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QUOTE(Shinyrayn @ Jan 20 2016, 01:40 PM)
June? That's so sad! Have to wait for so long! The station outside Eve seems ready! I was hoping either Feb or March by latest! As long the station not open, the vacant shoplots in Eve will remain vacant  unsure.gif
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Check out the other stations 2 to 7 then. If they are as ready as station 1, then you might get to have phase one in March. But definitely it is impossible to get full stretch roll out in March.

Hopefully. tongue.gif
puchongite
post Jan 20 2016, 03:59 PM

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QUOTE(g_kw2 @ Jan 20 2016, 03:50 PM)
It's not just an asking price... I am even surprised people are renting out at RM1,600. I have rejected so many wanted to confirm RM1,600.
I rented out RM1,800 at the end.
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RM 1800 for a 680 sf condo is fantastic !

So far so good but did you read kochin's view about occupancy ? If occupancy is low, it means what you encountered is likely a special case only.
puchongite
post Jan 20 2016, 05:02 PM

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QUOTE(gks @ Jan 20 2016, 04:57 PM)
Eve is FF unit which means at VP, it is ready to go for rental... Unlike other condo where few months period where units being furnished.

RM1600-1800 is about right for FF one bedroom unit. In Pacific Place those FF 2 bedroom is about RM1600-1800 as well but of course not so nicely furnished.
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Anyone knows what's ringgit equivalent of the furnishing loaded into Eve Suite and Pacific Place ?

Seems loading good furnishing into a prop is a way to improve rental yield.
puchongite
post Jan 20 2016, 05:58 PM

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QUOTE(gks @ Jan 20 2016, 05:16 PM)
Yup. I knew some investors do not like to buy A development because no differentiation nothing execpt pricing.
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Depending on how you look at things. 'A' development will still differentiate itself, by comparing against nearby development. In the case of Eve Suite, it will compare against Crimson and Ria.
puchongite
post Jan 21 2016, 10:50 AM

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QUOTE(kochin @ Jan 20 2016, 04:52 PM)
i think visually at night, only less than 15% of the units are lighted at night.
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Boss how many months it has been VP-ed now ?
puchongite
post Jan 21 2016, 11:26 AM

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QUOTE(gks @ Jan 21 2016, 11:21 AM)
Hm.... Did u see all these as same grade of properties? I believe those who chose Eve wouldn't choose Crimson/Ria
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You are buried in 'words' without finding out the 'meaning'.

I did not say they are same grade.

In fact I am saying you compare Eve with Crimson and Ria, and so it distinguished itself from them and thereby fetching higher rental.

This post has been edited by puchongite: Jan 21 2016, 11:28 AM
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...
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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

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.
puchongite
post Mar 9 2016, 11:51 AM

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QUOTE(kochin @ Mar 9 2016, 11:38 AM)
once you go black, you never go back!  biggrin.gif
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Pun intended. LOL.

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