Agree my MGG Gor comment. I still doubt KV capability to match other countries capital like Singapore, Jakarta, etc not to mention Shanghai, Beijing, Taipei, Tokyo, so on.
However, I tend to support and believe that KV is improving since the LRt, MRT and KTM plan had been proposed and it can bring the city to another greater level.
In years to come, I still believe, Malaysians will continue to pursue their property within prime area of Damansara, PJ, Puchong, Bkt Jalil, Subang and etc. Not all Malaysians have such culture of willing to save hefty cost to drive 40-50 km to KL for their job until the conpletion if our new LRT line.
Could they purchase location like Klang further, Shah Alam further, Rawang further or Nilai just to save housing loan installment. I could believe that they rather rent nearer place to work than staying so far, of course not all, sure they are some willing to travel.
For KR2, I sense today's pricing, albeit LH, entering at RM 420-450 psf is still approachable. With freebies and DIBS, I rank it is about quite fair price at RM 400-420 psf. Located at one of the best location, with KL address, to get 30% appreciation is possible.
IMHO, the KR2 should completed by July 2015 and handover by end of 2015. So in 3 1/2 years time, it is potential to get at least 25% appreciation or as at RM 520 psf.
Most of all, I still unable to predict too much. Just my forecast since I vested into it. 2009-2012 was a great period for property market, it appreciated at least 50% for such location of Bkt Jalil. However I don't see 2012-2015 would be another legend of 50-70% appreciation, I don't know it but I do pray it.
As Covillea and Savanna, both FH selling at RM 500 psf today, if KR2 really can offers a wow, wuu, whoah like TZ upon VP, I don't see why it can't reach RM 550 psf or beyond Covillea and Savanna pricing as at end of 2015.
Like MGG Gor said, it also rely for the future development and surrounding commercial area. The location of KR2 itself, no doubt I would say very good. But the presence of KR2 itself is another biggest factor where it's concept and building quality is widely regarded and needed. It is untested as the building is yet to build.
For 30% appreciation, I vested my units at RM 425 psf, means I need to sell at RM 550 psf or RM 800k. If the market is continue like BBB, RM 550 psf is highly doable, can even close to RM 600 psf. Even Kinrara starts promoting the new launches close to RM 500 psf and above it by this year end. As for today, I targetted it as at 25% appreciation.
On and off, I would say KR2 has the best winning appeal in terms of rental value in future. A 1,457 sq ft condo ( with KR2 features) fetching ard 3k now. By 2016, RM 3,700 to RM 3,800 is possible, though I am not saying guarantee.
May 17 2011, 11:34 PM
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