Any pics of the main entrance of the condo and also of the LRT station?

Could be true. But then again I wasn't expecting much in the first place for a RM 435psf price. Im more concerned about the quality of the paintwork and infrastructure. If that's fine, then I guess its acceptable.

No worries. End of the day buyers of KR1 and KR2 will make a good return on their investment due their low entry price compared to other condos in the area and also due to the upcoming malls.

My only regret now is that I should have gone for that 3rd unit that Chris gave me info on. But 2 is good enuf I guess.

What are the list of new condo's around KR2 which recently VP'd and their average selling price psf now?

Obviously not unless they are very desperate to sell. Selling a 1457sf unit at KR2 for RM480psf is well below the current market value.

Im 100% sure that getting RM550psf for the bigger units is not an issue. By the time KR2 gets VP, the LRT station would be operational and work on Paradigm 2 would have just begun. Pavilion 2 is already market news and at RM800psf, that's a new benchmark for Bukit Jalil and will surely boost prices at KR2.

And no im not just saying this because I have 2 units at KR2. Its a fact.

Based on actual transacted prices for KR1, B3-8, 1021sf was sold for RM578psf in Jan this year. No updates since then. Similar sized units were sold for between RM588-600 psf in Dec 2014.

Just for comparison, KM1 last recorded transaction was a 1,508sf unit on the 9th floor sold for exactly RM1mil in Feb this year. This works out to be RM663 psf. Other higher floor units were transacted at around RM667-696psf end last year.

Any idea what are reno costs now? The last time I did any condo reno was in 2012.

Any 'transacted' Type C units at KR2 Tower 3?

I only got 1 call so far for my 1457sf units around 3 months ago. RM500psf which I obviously said NO.

Now that u mentioned the RM780K price tag, I think I made a mistake. It was the same buyer I think. So that would be RM535 psf and not RM500 psf as I indicated.

Yes. But in my case, both units are for investment. So if im gonna rent out, reno would be slightly different compared to a direct sale. My last reno for a 1356sf unit and fit out with quality fixtures in 2012 cost me RM 37K. But my condo where im staying now, I spent 30K on renovation which was quite extensive + 36K on fit out back in 2009.

This post has been edited by cybermaster98: Jun 25 2015, 05:26 PM

For rental its not so much on reno but on fit out. Im also planning for reno and I already have 1 other condo on rental at TTDI. In our case with KR2, its gonna be a buyers / renters market because there will be many units up for sale or rent. So you need to stand out enough to get a decent rental but not too much that it empties your pocket.

I would do minor work on my KR2 units e.g plaster ceiling, built in cabinets, fittings for toilets, kitchen etc. Electrical items I will get from Legends SS2. Ive gotten very good prices from them since 2009 so I will go back to them. I anticipate my budget to be about 15-20K max for each unit. I have another 4 units bought by close friends and family members here at KR2 so ill surely nego with 1 contractor to get a good reno price for all 6.

Can no problem. We can finalise our options once we get VP end of the year. The more the easier to nego with contractors / suppliers.

RPGT is calculated from the SPA date. So if your SPA was signed in Jan 2013 (like me), if I decide to sell in 2016, I will kena 30% RPGT tax on the chargeable gain.

If this is your first property disposal, you get a full waiver. For subsequent disposals, you get a RM10K or 10% (whichever is higher) waiver on your profits.

Chargeable Gain = Disposal Price - Purchased Price (based on SPA) - Exemption waiver

Well i'll first evaluate what kind of rental price we can get for that area. I don't think it will be good enough to cover my monthly loan repayments. So depending on how good rental is, ill decide how long ill be renting for vs selling. But am prepared for a RM 2,500 rental p/month and rent until 2018 before selling.

I doubt ppl would want a semi furnished unit these days. Most ppl want fully furnished units / move in condition. Less hassle. So if I fully furnish, ill put in a LED TV, fridge, dining table + 6 chairs, TV cabinet, 3+2 sofa, king size bed for master room and queen sized beds for the 2nd & 3rd room. I can do that for about 14K. Add on about 6K for plaster ceiling so total about 20K.

Anyway that's just the plan. Will make final decision once VP.

If 800K selling price, then profit is about RM 120,000 for my unit (based on SPA price).

So 30% RPGT is RM36K - 10% of 120,000 = RM24,000.

SPA price is 680K and 705K respectively.

You should note that some of us are seasoned property investors who aren't just focused in Bukit Jalil. While I admit many would have bought with the herd mentality, I personally know of many who invested in KR2 after a lot of analysis, consideration of future developments, potential capital appreciation plus their own financial stability. Also many of us here are financially stable enough to weather the current economic climate. You only make a profit/loss on an investment when you sell and I don't think ull see many of the KR2 buyers in a panic selling mode in 2016 unless the economy really goes bust. If that happens, property would be the least of our concerns.

Just for your info, my group of buyers (close friends & family members) who invested in KR2 are all in the RM22-27K monthly salary bracket. Not saying they are top of the rank but they aren't down there either.

So no, im quite certain for many of us, our basis of optimism has nothing to do with that one sale 2 months back.

This post has been edited by cybermaster98: Jun 26 2015, 05:35 PM

Yes im quite aware of that. Familiar face on this thread since the start. I guess we'll know by early next year who's right or wrong. If the price isn't right, then most of us will just hold on and try and rent it out I guess. No real point pondering the what if's at this stage.