I just survey a condo unit in Cova Villa, Kota Damansara, 1150 Sft, currently rented to Segi college student, asking price is 360K, did this unit worth to invest? Appreciate any reply! Thx.

rgds,
L

for a 360k condo,
for investment the rental must be around rm2k to justify the purchase.
If you are buying for own stay, then watever price oso lu punya suka la...

is this the one next to the oxidation pond?

i buy for investment, and this unit is face the big 'longkang' there, might be the oxidation pond. Any issue with this pond?

if the oxidation pond, some students may not like it and complain to segi to ask for alternative to that unit. may not have consistent long term tenant rentals if that happens. furthermore, appreciation value already stagnate so no room to release the unit if you want to. imo.

Thanks for reply! I got search another unit facing Cova suites but sell at RM375K, worth to invest? Also want to know, what IF Segi college student move out, then the condo unit can rent to which target group of ppl? Thanks!

now, what is market price per sf? some sell in RM380k (RM330 per sf), some sell in RM420k (RM365 per sf) for 1147sf unit.
if u want to buy, what price u will consider?

if segi cabut, u will left with an apartment which is potentially horribly maintained.. apartment which was mostly occupied by students (worst if foreign students!) has a very low valuation somehow...

u know HELP will come in this area? if u know u wont said like that.
u know MRT will in here? if u know u wont said like that.
u know how much the they pay for the kid study in KDU per mth? if u know u wont said like that.
if u have 1 unit in here, u also wont said like that.

This post has been edited by m2c: Mar 10 2011, 11:55 AM

deeply agreed with this...! imagine how much segi invest for the campus.....how it cabut?? u though they rent a shop lot as campus meh?? invest few hundred million n cabut??

Wah this is undervalued in kota damansara, imagine the going price now is 500rm per sq ft ... so for a 1k sq ft it should be rm500k.... segi college, medical center, KDU ..... near to KD highway exits ....

hi,i'm real estate and specialize in kota damansara.
cova suite and villa is cheap if compare with casa indah 1 and 2...the only things that i concerned that if you go for rental then you better choose where the property can rent to working class,small family or professional working ppl beside student..yet if nearby mrt then it might be good choice..more important for condo is the management must be good and consistent to maintain..anything you can sms/call me..0193177888

m2c, sounds like you have a unit there?

share your thoughts maybe?

rent to african students...good money.

thet are willing to pay rm5000 for a 2 bedroom apartment.

pls elobrate more on this... thanks..

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Added on April 6, 2011, 9:58 ampls elobrate more on this... thanks..

This post has been edited by cutealex: Apr 6 2011, 09:58 AM

Share with u developer price is rm260-rm280. So can judge how high it can climb

ya, i have 1 unit, very nice and really make money, is my 1st invest property.

ooo ... understand its 8% gross from developer's price rite?

Good for ya m2c! but don't think its attractive for subsale entry ler .

Hi. Same with you here. Mine on block B. Which block is your unit?

you better be sure to know what they doing inside your apt.

these ppl has been famous for all sort of activities during their tenant at Malaysia as a student

from drugs to prostitutes, you name it, they have it!

Not really, each unit 3 rooms can accommodate 7 students, they pay 350/mth to SeGi, so total RM2450/mth collected by Segi, nett profit is +- 650 per unit
total for cova villa = 346 units, Segi really make RM225K per mth extra income, 2.7 mil / year.
after 3 year, it is option for owner to rent it out themselves, I will rent it by myself.

If the selling price is RM400K for 3 rooms apt, you can collect gross rental of RM2450/mth, RM29,400/yr = 7.35% ROI
after deduct - Maintenance + sinking 600 / fire insurance 140 / assessment 640 = effective ROI = 5.35% (still higher than bank interest)
for long term, rental will increase, still a good bet, MRT nearby some more

This post has been edited by UFO-ET: Apr 9 2011, 05:04 PM

For me i will cal like this way....

If the selling price is RM400K... (mean i take loan RM360k, 10% pay cash RM40k, 3% S&P etc fee RM12k)
Loan Interest: BLR 6.3%-2.2%=4.1% ~=RM1,250/mth (above RM250k loan amount)
Maintenance & sinking fund: RM250/mth
Insurance: RM12/mth
Other: RM100/mth
Interest FD (3.2%p.a.) for RM52k=RM140/mth
Total: RM1752/mth as your cost
And RM52k as your capital.

so, u paid RM52k u get RM2450 - RM1752 = RM698/mth (profit)
your capital RM52k u get RM8376 per year, mean u earn 16% p.a.

If u put RM52K to Bank (FD interest 3.2%p.a.) = RM1664
If u go invest (maybe is Cova Villa) u can earn rental = RM8000++

I USING BANK MONEY TO EARN MONEY.

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Added on April 11, 2011, 10:01 amMy money are hardworking, working here and working there,
But your money are lazy, only sleep in the bank.

This post has been edited by m2c: Apr 11 2011, 10:01 AM

Correct me if i'm wrong,

if your loan amount RM360k, 30 year, 4.1 % .
Then your monthly installment should be RM17++ ?

ya...
so mean u only can spend RM200++, and RM500 need to "saving to property", (like EPF)...

So is Cova Villa still worth investing now since its around 400k? How is the maintanence/security etc? Can anyone advise? Thanks!

just want to ask, are there many Africans over there? i'm looking for a place nearby

Maybe u do not aware the parking problem. This issue is about the wrong design of Cova villa car park. The ramp go up to 1st floor car park only allow sedan car or smaller car to pass through. A bit difficult for MPV n 4W to drive up to 1st n 2nd floor. u can double check with the maintenance office. I personally went to check and it is really a problem for those who drive big car.

any owner of Cova Villa here? i am looking for a property to invest and am looking at this condo. are there any complaints about this place? any reply is very appreciated. thank you!

Hi reddevil, I heard that Segi is moving out on year of 2015. I personally think this will give direct effect to the rental on the property that invested. Anyone know whether this new is true? Actually I'm also interested on this condo. Need more advice

hi, mind telling where u get the info? or source?

i see from somewhere in other forum, thats why I wanted to know too. I already email and clarify from Segi Uni.
Still haven got their reply back. Anybody know this too ??

Hi, beside cova villa condo , any good investment nearby, tq