Seems that about 50% of the units at Robertson already kena sapu. Unit prices start from RM 560K for 527sf unit at 8th floor for bare unit but comes with aircon. 5% discount, free SPA and loan legal fees. Its freehold but with commercial title so utilities will be 30% higher. Booking fee is RM20K. Non DIBS. Completion in Q1 2018.

Anybody have info about available units?

Yes that's good. Enough time to ride out any potential economic slumps.

What is deferred payment?

Type C 527sf Level 12 – RM 599,450 (inclusive complete furnishing package & after 5% discount) – Facing North – RM 1137 psf
Type C 527sf Level 18 – RM 616,550 (inclusive complete furnishing package & after 5% discount) – Facing North – RM 1170 psf
Type C 538 sf Level 14 – RM 549,000 (bare unit & after 5% discount) – Facing North – RM1020 psf

When signing SNP (April 2014) – pay 5% of purchase price after discount
July 2014 – pay 1% of purchase price after discount
Oct 2014 – pay 1%
Jan 2015 – pay 1%
April 2015 – pay 1%
July 2015 – pay 1%

Not really sure how the deferred payment scheme works. Sales person mentioned only valid if u get 80% loan?

This post has been edited by cybermaster98: Oct 11 2013, 10:25 AM

Its still a residential loan. Commercial title or not you are still subject to 70% loan cap if this is your 3rd property.

So what are the better unit types and which view?

I think from an investment perspective, getting a unit with the furnishing package is not worth it as the package is worth about RM100K and on top of that you get charged interest as its built into the loan. So ure looking at 120K just for the furnishing package. I can get the same furnishing done for about 30K so its a huge mark-up.

But do keep in mind that unlike other developments, the 5% is a discount not a rebate. Your loan is based on the discounted price not the original price. So although u pay less interest in the long run, but your upfront money is higher. This is to do with the valuation of the property obviously. The banks are not valuating at the purchase price.

The units with the best view are those facing North or KLCC/KL Tower. The 2nd best (from an investment perspective) would be the lower floor units on the reverse side with a view of the rooftops of surrounding buildings / Times Square. But its clear than Gamuda Land is priming the market for the launch of the 2nd tower which will have a marked increase due to it projected view of Warisan Merdeka.

Im looking at unit N-25-08 (Type J 689sf) facing Times Square (which isn't great) and the pool. Far from the best unit but its the cheapest available unfurnished unit. It costs RM718,960 (after discount) which brings the price to RM 1043 psf. Only problem is that im only entitled to a 70% loan but im in a JV with a friend. Loan amount is about 500K with RM 2274 per month repayment from 2018 onwards.

Is it worth investing in this unit since we have to come up with about 200K as downpayment (but under deferred payment scheme)?

This post has been edited by cybermaster98: Oct 13 2013, 03:40 PM

Which unit you bought? Floor? Price before discount? Size? Type?

So what are the rental yields there?

8% is not low. But yields are not the only way of looking at it. If the price of the property has appreciated a lot, the rental yields will drop.

Although the agents claim there wont be a discount for Tower 3, im quite sure there will be. Since there's no DIBS, the developer would want to make as many sales as possible for them to begin work on the project. So it will be in their best interests to achieve 70-80% sales in the shortest period.So yes there would be a 10% price premium, but im also quite certain there would be a discount offered as well.

Ive decided to cancel my booking at the 25th floor and wait for Tower 3 instead. Hope Tower 3 comes with a good percentage of unfurnished units.

Well, its not the unit with the best view (partially blocked by Tower 2). Also, since im only entitled to a 70% loan, if I have to dump in 30% cash, I rather do it for a prime unit. So will target Tower 2 or any other development in the meantime. The unit costs RM 719K (after 5% discount). Unfurnished.

This post has been edited by cybermaster98: Oct 14 2013, 09:50 AM

A wholesale mall is not like a shopping mall like Times Square. It wont have premium brands. Just look at the area around Robertson and ull know what kind of crowd they are targeting.

Yes agreed. Plus the cooker is just a small induction cooker. The washer & drier given is a smaller unit. The furnished units are really not worth it. Paying extra 80-100K for this furnishing plus need to add in loan interest fees is really not worth.

Ppl who have not done renovation will have limited knowledge on furnishings. 3 years ago when I did the freno of my 3 bedroom condo in TTDI, I spent RM36K for the fit-out and 30K for the wet works. My fit out consisted of hard wood beds and branded mattresses in 3 rooms, sofa set, hood,hob,oven, Diamond water purification system, curtains, 6 seater hard wood dining table, Philips 42" TV, Toshiba fridge, 12kg washing machine & drier, TV table, 2 Alpha ceiling fans, 2 Alpha water heaters, kitchen & toilet fittings, bed sheets & comforters, pillows, 1 new 2HP inverter aircon and new double lock set for main door.

I think the 13fl units were generally cheaper because of the number. Normal units, the difference between the f/f and bare units about 80-100k.

Also, don't forget that the maintenance fees is RM0.50 psf. A 689sf unit would cost RM 344.50 per month just for maintenance alone.

From an investor's point of view, regardless whether its expensive or not, the rental returns must be able to cover the maintenance cost and the monthly loan repayment. If the unit value is RM 720K, BLR-2.4% for 30 years, your monthly repayment becomes RM 3168 per month. Add on RM345 for maintenance and ure looking at a total commitment of RM 3513.

Can we get RM 3,500 for a level 25 1 bedroom unit without a good view? I don't know.

Yes same unit but ive taken 90% loan as comparison.

That 70% cap is for 3rd property onwards. I think he is referring to first property.

No such thing la bro. The Robertson finishings (the extras compared to the bare unit) can be easily done for about 20K. Trust me.