Before Chinese New Year I recd a lot of call fr agent asking me whether i m interest to sell my 1168sf unit & some even told me they have collected cheque for the deposit offering 580,000 I taught all this is their make up story in order for them to collect info fr owner. Actually I hv the intention to sell of coz not now becoz is less than 3 yrs my bank loan will penalize me for early settlement therefore I simply answer them if got 600k call me. To my surprise immediate the following month one agent call & she has a purchaser for 600k but I need to allow him to apply loan first & if the loan unsuccessful than refund the deposit.
Since I'm not prepare to sell yet becoz or my loan penalty therefore I told the agent I don't agree with such an arrangement becoz I expect a genuine purchaser to have knowledge or have done their homework whether he can qualify for the loan or not.
After that the agent was very disappointed & she text me she will check with the mortgage agent for the loan first & come back to me.
Well at that time I still cannot convince myself there is purchaser offering 600k whereby there r a lot of unit advertise at lower than 600k in iproperty so I didn't bother to inform her that I will not sell until next few months
Surprise surprise when I recd her call again the following week confirming that her client has already obtain approval for the loan & wud like to sign the purchase document with me.
I really feel bad for not taking it seriously to inform her earlier I straightway apologize & promise her I will only let her sell once my loan completed 3 yrs period.
600k = 1168sq roughly 513 per sq ft
Surprise surprise wonder vp will touch 620-650k
Let wait & see to all investor

QUOTE(twincharger07 @ Mar 24 2013, 06:26 PM)
At first you tell ppl why pay 600k as you can find cheaper unit in iprop.. now you tell ppl take iprop as a reference.. lolzz...

As I have said is a surprise surprise .....if it make sense than is not a surprise anymore.
Anyway it is a true incident happened to me I don't exaggerate or manipulate the price coz the actual price is determine by market force that is the supply & demand
Btw I grateful for those who understand or experiment that iproperty advertisement is just an indication.
Again if you survey around you will find most of the newly launch already above 500 per sf & they are not even freehold or with good connectivity area.
Plz don't bombard me is js my personal view.
Cheers

Surprise Surprise
Surrounding new launches already 600-700 psf onward already wor...


Bukit Kiara Properties to build serviced apartments with retail element
By THEAN LEE CHENG | The Star BizWeek | Saturday March 16, 2013
http://biz.thestar.com.my/news/story.asp?f...27&sec=business

THE Tongs of Bukit Kiara Properties Sdn Bhd (BKP) fame will be returning to the Old Klang Road area where patriarch Datuk Alan Tong first developed OG Heights condominium under the Sunrise name.

His son Datuk N.K. Tong will be turning the former Alamanda College along Old Klang Road into a serviced apartment project with retail element.

The former Alamanda College site, comprising two 24-storey blocks just a stone's throw away from the Scott Garden commercial project, will be converted into VERVE Suites KL South with 321 residential units and 45 small office, home office (Soho) suites.

This latest launch by BKP is significant because the project will be the first new launch for the company in almost two years.


Bukit Kiara Properties will be converting these two blocks into VERVE Suites KL South with Affin Islamic Bank in a joint venture.

Furthermore, it will be a brownfield project, the first for the company. The property was formerly owned by Singaporeans.

Tong, in his 70s, has more than 50 years experience in property development. He formed Sunrise Sdn Bhd in 1968. Together with Ngoh Development, a company owned by his father that owned four pieces of land in Klang, Sunrise embarked on its first project, OG Heights at Old Klang Road, in 1984.

According to property blogs, the BKP property will be RM650-RM1,000 per sq ft.

VERVE Suites KL South will be the latest project on what is considered as one of the Klang Valley's oldest road.

Location-wise, some of the most established townships are located with access via Old Klang Road. Taman Kuchai, Overseas Union Garden, Taman Yarl were the earlier townships. Taman Kinrara and Puchong came later.

Most of these townships comprise landed housing because when they were built, land was not an issue as there was an abundance of it. Today, the story is slightly different.

It was and continue to have within its a geographical reach quite a number of thriving commercial and residential townships. A lot of the rich and older generation continue to live there. For the younger generation who have moved away from their family homes, Old Klang Road holds much sentimental value for them.

VERVE Suites KL South will be undertaken as a joint-venture project under BKP's holding company Albatha Bukit Kiara Holdings Sdn Bhd and Affin Islamic Bank Bhd, with a potential gross development value of RM300mil.

KL South Development Sdn Bhd, a specific joint-venture company between the parties, will develop VERVE Suites KL South. The developer will not be adding any floors to the original structure and is currently preparing its show unit.

Unit size begins from 500 sq ft. There are no confirmed details how much the units will be going for. BKP's press invitation to next Monday's signing ceremony between BKP and Affin Islamic described it as an “innovative residential” development.

It will be one of the more upmarket projects in that locality. The Scott Garden will be the nearest high-rise residential with Tesco and the Old Klang Road wet market within walking distance.

Jalan Klang Lama and its surrounding areas will be seeing quite a number of high-rise developments. While some of them are nearing completion, there are several current launches.

Among the nearest to BKP's project is Avantas Residences. This is being developed by CPI Development Sdn Bhd. Reapfield is marketing it at RM710 per sq ft before rebate and RM615 after rebate. This freehold project comprises 198 units of service apartments that will sit on about an acre. It will have a single block of 28 storeys with units ranging from 700sq to 1,200sq ft.

See Hoy Chan Group has Seringin Residences in Kuchai area. Only units of 2,100 sq ft and above remain and these are priced from RM1.1mil onwards, or at more than RM500 per sq ft. The UOA group, known for its projects in Bangsar South is building Le Yuan Residences in Kuchai, at between RM500 and RM600 per sq ft. This is expected to be completed in 2015.

Other projects sited on Jalan Klang Road includes 9 Seputeh by Gapurna group, which is being merged with Malaysian Resources Corp Bhd. This will be launched in the next couple of months.

Another freehold development is Residence 8 by OCR Land Holdings Sdn Bhd located off Jalan Puchong. The project is 100% sold, at about RM450 per sq ft. The project is expected to be completed next year.

If I'm not mistaken 288 Res was launched almost same time as Seringgin & LeYuan as an underdog comparing with this 2 big giant. Everybody know that this 2 heavyweight developer property almost sell by itself strong brand name very reputable but nevertheless they also set up a show unit beside having the mock-up model to sell during their launching.
As we know GRes & Seringgin both are located directly at the main road therefore they r easily be seen either from far & near but I believe a lot of ppl may not know where is 288 Res which is hidden by those illegal parking & hawker along the road leading to the site. It seem the lane in front of the futsal centre will be expanded that will lead you to LeeYuan & to the main road in the future.
Even GRes has some left over unit also it was sapu habis last year.
I think is the same for 288 to have some left over unit especially those larger & lower unit.
Guess is not bad for 288 Res selling @ 500 psf - (DIBS 5%) 25 = 475 psf now
Don't forget it was sold..........
without any show unit
only package with 1 car park (whereas GRes come with 2 car parks)
being an underdog
located inside the main road
As to summarize all this factor there is definitely an indication of strong demand in this area probably due to the Chinese school & the surrounding amenities available.
It look like both still have the potential to move up to 550psf as we r aware our old klang road latest condo launching is crossing above the 600psf pricing.
A cheers to all the GRes & 288 Res owner