Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> NADAYU 28 SUNWAY [OWNERS' THREAD], New development behind Sunway UniCollege Investment

views
     
bling3
post Apr 25 2011, 09:49 PM

New Member
*
Junior Member
10 posts

Joined: Apr 2011


guys,

appreciate if you could help me out here..

i'm pretty interested in getting this for investment.. n i've heard sources pretty much confirming this is rm520psf, smallest 940sft, going all the way up to 1600sqft.

now i've done a quick check and on AVERAGE, even the most luxurious condo in sunway college (sunway palmville), rental is at rm2900 for a 1600sqft unit, fully furnished. that will be an average rental = rm1.80 psft.

(i know there are units renting out between 3k - 5k, but we are all investors/business people here, the rm2900 rental figure is taken directly from iproperty so it's reflecting real, prudent value here)

for a 940 sft, purchase price = 488k, mortgage inclusive of maintenance fee (est o.30 cents) = rm2500 each month to break even.

like that, how to break even on rental la.. this is going to be on a thin fine-line to get ppl to rent, even 3-4 years from now when property is completed.

what do u guys think?

oh btw, i've been there myself, this land is directly next to (surrounding) a low-cost 4-storey apartment and is facing directly the pariah shoplots on the main road le.. u guys think the property here got a lot of upside potential to appreicate somemore meh?

thoughts anyone?



bling3
post Apr 26 2011, 12:07 AM

New Member
*
Junior Member
10 posts

Joined: Apr 2011


oops soli forgot to mention to do full calculation for you guys to see.. hehe

so if sunway palmville average psft rental = rm1.80, if i were to get the 940 sqft, max average i can rent out is only at rm1.7k, but to break even monthly installment is at rm2500+/- (estimatela), so is it really justifiable?

moreover the area surrounding is all the pariah shoplots, the 4-storey low cost aprtments (directly behind), will it have that "premium" feel to justify a more higher potential upside for appreciation in the next 3 years?

hope all the sifus here can help? biggrin.gif
bling3
post Apr 26 2011, 09:58 AM

New Member
*
Junior Member
10 posts

Joined: Apr 2011


QUOTE(photatat @ Apr 26 2011, 01:50 AM)
i dun think the renting price based on this calculation works for this case.
normally agent will mark the rental based on the selling price nowadays.
for a 3 room 1300sf unit i quite sure the agent will quote the rental 3k onwards.
*
bro, sory don't really understand.. what do u mean by "normally agent will mark the rental based on the selling price nowadays.
for a 3 room 1300sf unit i quite sure the agent will quote the rental 3k onwards."

of cos for 1300sf, the agent can quote any figure they want, but the question will the person be WILLING to pay cos he/she also not stupid, if they just do a quick search and base it on the average rental psft around that area there at 1.80 (estimate - this is already for the most luxurious sunway palmville), the most they willing to pay is 1.80 x 1300 = rm2340, why would they even want to pay more? just tor the extra "convinience" of walking 10 meters to sunway college?

also -- for 1300sft, based on rm520 psft, the purchase price will be 676k, which means to break even the monthly installment is EASILY more than 3k, so can justify purchase meh?

what do u think? smile.gif
bling3
post Apr 27 2011, 08:34 AM

New Member
*
Junior Member
10 posts

Joined: Apr 2011


QUOTE(Lcsx @ Apr 26 2011, 05:08 PM)
-Hi Bling, assuming "your" estimated price, the monthly installments will only be "RM1835" based on 40 years. It is probably not so fair to put 30 years as a more substantial portion of your installments go to principal repayment rather than interest. Or to be fair you actually should count the gain from paying down the principal as well. Based on your estimates it will be a good positive cash flow which is getting quite rare for "new" developments. I am not saying Nadayu 28 is the only one, but its getting quite rare. (You can find some on low end props but there is some developer risk and you have to manage more props)

-And as for rental you should not be comparing with Sunway Palmville directly as it is around 800 meters from Sunway Uni. Nadayu 28 as you know is only around 50-100m away. Why not compare with Lagoon View which is simillar distance as Nadayu? Lagoon View commands stronger rental due to short distance.

-As for rental psf. Doesn't a small unit command a higher psf rental than a large unit? Is it fair to compare with a 1600sf unit in terms of psf?

-Should rental psf be the same for a new condo as compared to 10-20 year old condos? Especially if the target are very well to do people. (ie. Rich students, lecturers)
Moreover old condos there would have lost quite a bit of their lease by now.

-Great features but I be tight lipped on that for now.

-And about the facing and surrounding. I guess you don't quite know how the development is going to be like yet. It's not perfect but its good. There are interesting things going around the area too. smile.gif
*
hmm.gif


Added on April 27, 2011, 8:43 am
QUOTE(photatat @ Apr 27 2011, 02:46 AM)
i'm currently managing student acomodation in sunway area n i know what they willing to pay for,at the 1st year they will stay in hostel n after that they will trying to move out.since the hostel cost 1k/room they don't mind to get a 3k for a altanative 3room unit.
*for lagoonview the price can boost up to 5k at the moment
*
hmm.gif hmm.gif

wah bro, the students so tap sui these days meh? yeahla, 3k for 3rooms understandablela, which also means the unit is those above 1k sf one.. 940 sf, normaly also 2 room only ma

still cannot understand who'd pay 5k for 1 unit? rclxub.gif

i remember when i was a student, 1k for room also vomit blood d o laugh.gif

This post has been edited by bling3: Apr 27 2011, 08:43 AM
bling3
post Apr 27 2011, 02:16 PM

New Member
*
Junior Member
10 posts

Joined: Apr 2011


i got nothing to say blink.gif

the market is crazy these days!!

http://www.starproperty.my/PropertyScene/T...htBox/11649/0/0

it's like everybody just kena lottery!


Added on April 27, 2011, 2:28 pm
QUOTE(Lcsx @ Apr 27 2011, 10:07 AM)
Well this is Sunway and Monash Uni.. super loaded people Uni tongue.gif
and also inflation tongue.gif
*
aiya bro however loaded they are also, for 940 sf, 2 room, to get rental 3k, meaning to say rm1500 per room also they willing to pay meh? sure bo?? shocking.gif

this is a thin fine line to sell man..



This post has been edited by bling3: Apr 27 2011, 02:28 PM

 

Change to:
| Lo-Fi Version
0.0189sec    0.27    7 queries    GZIP Disabled
Time is now: 28th March 2024 - 08:50 PM