i was almost booked a unit in May 11. i went to Andaman office in USJ on Saturday and that time not much ppl and there are still units available in block B (as informed by the SA).

After thinked twice, decided not go as the actual return is around 4-5% (based on net amount after deducting the furniture cost of RM50k, which i think is too high, and the furniture package is referring to fans (not air-con), tables, chairs, wardrabe, bed and mattress..even not hv cooking hood, refri., and cooker). First 3 years, they will not charge any maintenance fee, but for the second 3 years renewal terms..3 or 4 months rental will be charged for maintenance fee..

Anyway, dif investors got dif preference..since this is a GRR scheme, at least the investors are ensure of tenancy and rental regardless of what is the rate of return..

Good luck to Arc investor.

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Added on July 6, 2011, 10:17 amsorry..opps..should be "i think is too low..."...


This post has been edited by NormanPuchong: Jul 6 2011, 10:17 AM

this point is key.. and make the ppl to buy...

Hi All,

One of my friend have a unit to let go:

- Blk B 9th floor, 1021sf, 3r2b, purchased price at RM401,000.

- Fully Furnished.

- Asking for premium of RM40,100(10%).

-The 5% will be refunded back to you once u obtained 90% loan.

Interested do sms me or call 016-2080516 for details. Tq

People actually ask RM40,100 premium for this project??!!! Omg.....

Wow, easy $$$ ..

Then the rate of return maybe lower than 5%, considering the mark-up of RM40k, since the developer's GRR is based on their selling price.

later on ppl will rather sell it with lose...

At the current asking price it seems the price per sqft is hitting RM450/sqft which personally I think the price has gone up to the roof and left no room for new buyer's gain margin. There's many and plenty of projects to choose from if buyer can pay RM450/sqft and I hardly see any factors for capital appreciation in the future for this project.

i share yr views....

Look at this before investing in student renting GRR scheme.

will the 8% GRR be revised as time passes? at 8% today will not be much 10 yrs from now

i got a big problem with this developer. This developer make me headache X 10. Do hold on, i will post the list of "Bad Services" after i got the refund. Stay Tune !!!!!

this project is beside the Cyberia smarthomes, i think the student rather prfer to stay there as it is closer to walking distnce to mmu. u hav to have a transport to go to d college there. but IMHO as an owner and renting to ppl here in CYBER, dont underestimate the working class in CYberjaya. It is better for renting to them as they also prefer to stay nearer to their workplace. Currently my tenant 4 ppl are working, only 1 is student. It has always been that way.

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Added on July 30, 2011, 9:22 pmthe problem and challenge that will occur is not finding the tenant to stay in ur unit. I can almost guarantee u wont have any problem with that here in CYber. The true challenge is to make sure u break even and not losing money as the reasonable rental fees might not even be high enough to cover your monthly loan commitment and monthly service fee....

This post has been edited by max_cavalera: Jul 30 2011, 09:22 PM

LAstest i heard people are buying the units by undertable money as much as rm 10000.
Something wrong somewhere..

hahaha, u sure bro? the developer is having a free lunch buffet last week. If undertable money is applicable, they do not need to cater food to attract customer again?

Exactly, the developer has been heavily advertised their project too.
My advise is to strictly avoid Andaman at all!!!

Yes bro.
Get the info from reliable source.

Well at this point not sure who is getting the undertable money.

Might be true...but I really saw them cater free buffet that weekend.

"i got a big problem with this developer. This developer make me headache X 10. Do hold on, i will post the list of "Bad Services" after i got the refund. Stay Tune !!!!! "

BroNic8909, are u manage to get yr refund?

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Added on October 17, 2011, 10:33 amMGG, this week end r u going to the side? Are there any pictures taken by you to be shared?

This post has been edited by NormanPuchong: Oct 17 2011, 10:33 AM

i too have doubts on the developer and their projects.

sorry sidetrack to another of andaman's property called the Academia at south city mall in sri kembangan.

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

Thinking about it, what happens after the 3+3+4 years of GRR? The property will be returned to us and then it becomes our responsibilty to find our own tenants?
How sure are we that ppl will want to rent the place?

And if we want to sell it in the 3rd yr (for e.g.), will it be attractive enough for ppl to purchase? since theres only 3+4 yrs left of GRR? wil ppl even want to buy it at all?

How about the resale value? Ok, im sure it will increase by ~ 20-30% after completion but just afraid it will become stagnant after that.
Casa subang in USJ (also by andaman) seems to have its price in stagnation albeit the buzyness of the area surrounding it. No significant difference in price last yr and this yr. (sorry, no info on price 2-3 yrs back as i only remember last yr's bcos i was searching for a good property to buy). Just saying.

The property only sounds attractive in the beginning but what about it being a good property for long term investment?

anyway these are just my opinions . Would like to hear yours if u can input.
thanks

Lifehouse
(I'm not the real user. tumpang-ing user's account to comment)