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> Aston Kiara 3 Condominium - Thoughts?

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flight
post Jul 2 2020, 09:34 AM

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QUOTE(spursman_forever @ Jul 2 2020, 09:24 AM)
just to make sure there are no vested interests, flight are you a property agent or living there?

i live here and im not confident the road will be made soon, not with the political situation in malaysia and our current lack of funds
on top of that, inspirasi has built an elevated end on kiara 4 that closes into their unit. whether than can be rectified im not sure but given that UEM owns the plot between inspirasi and aston im sure they will find a way to get it done which will benefit us although i fear that the road will be elevated.

As for funds, we have > 1 million in our sinking fund but that is nowhere enough to build such a structure if the road is eventually built (especially if we need to build a raised structure to connect) and we will most likely have to do a capital raise in the future to entertain such a notion IF Kiara 4 is built. On the other side of things, if the connecting road is built all the way thru, traffic will significantly reduce on kiara 3 and it will essentially become a side road rather than the major thruway. that itself will make getting in and out much much easier so the major traffic build up will be a thing of the past and it will shift to kiara 4.

As for living here, all i can say is that its great. its quiet as there are only 180 units, extremely safe and the facilities are good. If you are buying for investment, this is not for you, please stay away, we want a wholesome family place, not a place for you to rent out or try to make a quick flip.
It is very affordable for those wanting their first homes in the heart of KL and given that its freehold, the sky is the limit, just for comparison, inspirasi is leasehold.

Yes maintenance is expensive, almost 700 ringgit for maintenance monthly as there are only 180 units here but monthly collections are > 80%. In other words we are healthy finance wise and well managed. Bear in mind this has NOT been raised for > 5 years now. how many other condos can say the same. I can assure you this as im on the committee and have been so for the last 3 years and i can tell you that all the related costs keep rising year on year but we have been able to maintain that without cutting the quality because of that 0.40 psf. I dont think we will have to increase this coming year again though i cant guarantee that for the year after.

Like it or not, stay or not i dont care, if you join us welcome, if you dont, your loss or your gain or whatever. One thing is for sure, location wise for this price i doubt you can find a better deal to be honest.
*
Nope, not an agent here. But ive been looking at this particular development, so i know a little. If theres anything at rm450k for 1500 sqft and i have the money. I would probably buy to flip, if it doesnt work out, staying is also an option, at rm2.3k, the tenants shouldnt be too bad. If its rm450k its also cashflow positive.
SongChiang
post Jul 2 2020, 10:13 AM

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QUOTE(flight @ Jul 2 2020, 09:34 AM)
Nope, not an agent here. But ive been looking at this particular development, so i know a little. If theres anything at rm450k for 1500 sqft and i have the money. I would probably buy to flip, if it doesnt work out, staying is also an option, at rm2.3k, the tenants shouldnt be too bad. If its rm450k its also cashflow positive.
*
i am looking for around the same price but i doubt it will drop that low. cause i will fight you for it hahaha
but 2.3k is not enough to give you positive cashflow. you still have 700 worth of maintenance fee.
for rental you can only target working class / family with car as i dont think there's public transport within walking distance?
flight
post Jul 2 2020, 10:17 AM

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2.3k i think is a low figure, if a road is built and the area is developed it wont be that rate. Sefina rented out rm4k at that size.

Anyway, im not actively looking now, looking at other things.
SongChiang
post Jul 2 2020, 10:23 AM

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QUOTE(flight @ Jul 2 2020, 10:17 AM)
2.3k i think is a low figure, if a road is built and the area is developed it wont be that rate. Sefina rented out rm4k at that size.

Anyway, im not actively looking now, looking at other things.
*
you're talking 5~10 years from nw ?
flight
post Jul 2 2020, 10:36 AM

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QUOTE(SongChiang @ Jul 2 2020, 10:23 AM)
you're talking 5~10 years from nw ?
*
My personal opinion. It may be sooner. Once the weaker hands sell to stronger hands, the picture will change. The area already can see changes. Jalan kiara 4 is already being built, dunno whether it will complete all in 1 go or be done in stages.

Sefina is rm4.5k for 1300 sqft.
Zwean
post Jul 2 2020, 10:48 AM

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QUOTE(flight @ Jul 2 2020, 10:36 AM)
My personal opinion. It may be sooner. Once the weaker hands sell to stronger hands, the picture will change. The area already can see changes. Jalan kiara 4 is already being built, dunno whether it will complete all in 1 go or be done in stages.

Sefina is rm4.5k for 1300 sqft.
*
Jk4 extension done by developer for now.
flight
post Jul 2 2020, 03:22 PM

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user posted image

It looks like the road has been built up till sefina. The land is cleared until the turning in between inspirasi and ardena. Looks like its turning in.

Looks like the main road, rather than a bridge for the development.
Propertylearner
post Jul 2 2020, 04:11 PM

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It is not mont kiara if it’s at jalan kiara 3 . This want lagi segambut dalam .kthxbai
Zwean
post Jul 2 2020, 06:33 PM

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QUOTE(flight @ Jul 2 2020, 03:22 PM)
user posted image

It looks like the road has been built up till sefina. The land is cleared until the turning in between inspirasi and ardena. Looks like its turning in.

Looks like the main road, rather than a bridge for the development.
*
The road extension leads to Inspirasi and ends there. The bend turns into Inspirast Mont Kiara.
flight
post Jul 2 2020, 06:57 PM

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QUOTE(Zwean @ Jul 2 2020, 06:33 PM)
The road extension leads to Inspirasi and ends there. The bend turns into Inspirast Mont Kiara.
*
If u look closely there r 2 extensions to inspirasi, one directly connecting to it and the bigger one is between ardena and inspirasi. Take a closer look.

Unless jalan kiara 4 ends at inspirasi, which doesnt seem likely as ppl have mentioned that it terminates at jalan duta kiara.
Zwean
post Jul 2 2020, 07:05 PM

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QUOTE(flight @ Jul 2 2020, 06:57 PM)
If u look closely there r 2 extensions to inspirasi, one directly connecting to it and the bigger one is between ardena and inspirasi. Take a closer look.

Unless jalan kiara 4 ends at inspirasi, which doesnt seem likely as ppl have mentioned that it terminates at jalan duta kiara.
*
Have you been there recently?

You should go for a site visit. See it with your own eyes ya.

Don't rely on Google map.

For now, it ends at Inspirasi (the road is funded by MKH)

EDIT: Let me help you.

user posted image

This post has been edited by Zwean: Jul 2 2020, 07:07 PM
flight
post Jul 2 2020, 07:11 PM

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QUOTE(Zwean @ Jul 2 2020, 07:05 PM)
Have you been there recently?

You should go for a site visit. See it with your own eyes ya.

Don't rely on Google map.

For now, it ends at Inspirasi (the road is funded by MKH)

EDIT: Let me help you.

user posted image
*
I see, good to know. Thanks for the update.
Zwean
post Jul 2 2020, 07:16 PM

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QUOTE(flight @ Jul 2 2020, 07:11 PM)
I see, good to know. Thanks for the update.
*
Most welcome, I hope that the road can connect to Duta Kiara. Only time will tell.
JaysonKL P
post Jul 11 2020, 09:24 AM

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who is selling Aston for 450k?

From brickdz past transactions history cheapest ever sold is more than 600k.

QUOTE(flight @ Jul 2 2020, 09:34 AM)
Nope, not an agent here. But ive been looking at this particular development, so i know a little. If theres anything at rm450k for 1500 sqft and i have the money. I would probably buy to flip, if it doesnt work out, staying is also an option, at rm2.3k, the tenants shouldnt be too bad. If its rm450k its also cashflow positive.
*
flight
post Jul 11 2020, 01:14 PM

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QUOTE(JaysonKL @ Jul 11 2020, 09:24 AM)
who is selling Aston for 450k?

From brickdz past transactions history cheapest ever sold is more than 600k.
*
Auction market theres several transacted at rm450k.
WahBiang
post Jul 11 2020, 01:57 PM

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QUOTE(flight @ Jul 11 2020, 01:14 PM)
Auction market theres several transacted at rm450k.
*
Any auction unit in the market now?? Can shate its reserve price?
flight
post Jul 11 2020, 01:59 PM

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QUOTE(WahBiang @ Jul 11 2020, 01:57 PM)
Any auction unit in the market now?? Can shate its reserve price?
*
Very selective... last time a lot. Atm i think none

Maybe after the moratorium.

This post has been edited by flight: Jul 11 2020, 01:59 PM
WahBiang
post Jul 11 2020, 02:05 PM

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QUOTE(flight @ Jul 11 2020, 01:59 PM)
Very selective... last time a lot. Atm i think none

Maybe after the moratorium.
*
Thanks for the inputs... Wonder here, what's the population mix? Middle east 50 local bumi 50?
flight
post Jul 11 2020, 06:24 PM

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QUOTE(spursman_forever @ Jul 2 2020, 09:24 AM)
just to make sure there are no vested interests, flight are you a property agent or living there?

i live here and im not confident the road will be made soon, not with the political situation in malaysia and our current lack of funds
on top of that, inspirasi has built an elevated end on kiara 4 that closes into their unit. whether than can be rectified im not sure but given that UEM owns the plot between inspirasi and aston im sure they will find a way to get it done which will benefit us although i fear that the road will be elevated.

As for funds, we have > 1 million in our sinking fund but that is nowhere enough to build such a structure if the road is eventually built (especially if we need to build a raised structure to connect) and we will most likely have to do a capital raise in the future to entertain such a notion IF Kiara 4 is built. On the other side of things, if the connecting road is built all the way thru, traffic will significantly reduce on kiara 3 and it will essentially become a side road rather than the major thruway. that itself will make getting in and out much much easier so the major traffic build up will be a thing of the past and it will shift to kiara 4.

As for living here, all i can say is that its great. its quiet as there are only 180 units, extremely safe and the facilities are good. If you are buying for investment, this is not for you, please stay away, we want a wholesome family place, not a place for you to rent out or try to make a quick flip.
It is very affordable for those wanting their first homes in the heart of KL and given that its freehold, the sky is the limit, just for comparison, inspirasi is leasehold.

Yes maintenance is expensive, almost 700 ringgit for maintenance monthly as there are only 180 units here but monthly collections are > 80%. In other words we are healthy finance wise and well managed. Bear in mind this has NOT been raised for > 5 years now. how many other condos can say the same. I can assure you this as im on the committee and have been so for the last 3 years and i can tell you that all the related costs keep rising year on year but we have been able to maintain that without cutting the quality because of that 0.40 psf. I dont think we will have to increase this coming year again though i cant guarantee that for the year after.

Like it or not, stay or not i dont care, if you join us welcome, if you dont, your loss or your gain or whatever. One thing is for sure, location wise for this price i doubt you can find a better deal to be honest.
*
Spursman is staying there, perhaps he can give us some input on the population mix?
spursman_forever
post Jul 14 2020, 08:31 AM

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Local bumi? Maybe 3-4 families
A few indian and punjabi families
Majority of the locals are chinese singles and families
One or two South Asian expat families
A few Asiatic Expat families (Taiwan/Korea/Japan)
1-2 African families (with young kids)
A few middle eastern families
Some units are currently unoccupied but 65-70% occupancy i think

As for auction at 450? from my knowledge maybe that was the starting price but most closed closer to 600. i dont think any closed less than 550 but i could be wrong.

This post has been edited by spursman_forever: Jul 14 2020, 09:02 AM

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