I don't see anymore lelong units from lelong websites, all have been snapped?

Still got.

18-7, Aston Kiara 3 Condominium, No. 27, Jalan Kiara 3
Reserve price🔥🔥RM 583,200🔥🔥
Freehold
1593sqft
Auction: 03-Oct-2018 (Wed)

Dateline coming soon.

New Auction Comming soon.

17-05, Aston Kiara 3 Condominium
Reserve price RM 566,000
1518 sqft
Freehold
Maintenance Fees: RM 700 plus per month

https://www2.mudah.my/vi/69597998.htm

This post has been edited by hayhuh: Oct 11 2018, 05:13 PM

I own and stay here and ive got no complaints, in fact im on the MC also.
bought last year at 650+, thats more or less still the going rate for non auction units.

the main reason got so many units at auction price is because this project was mainly sold overseas at a premium as an investment property with guaranteed rental returns of x% for foreigners with the selling point being that it was in "Mont Kiara". technically that is true as its on kiara 3 and in a few years time it will be considered exactly the same but for the time being, its surrounded by construction and parts of the original kampung and this situation wont change for the next 5 years or so.

coming back to why there are so many units on auction is because, with the downturn of the economy and the glut of high rise units in the market as well as significant number of expats leaving malaysia with the weakening ringgit, this condo could not deliver the promised rental returns and couldn't go for the rental amount required to make a profit for the overseas owners.

Subsequently, these owners default on their repayments and the units go on auction.
their numbers are small though as for the management and maintenance fees, we have more than 80% paying their monthly fees so i assume that their loans are being repaid promptly.

in the last year, we have > 10 new local owners and i welcome this trend as we will have more malaysians and less foreigners staying and maintaining this beautiful condo in the long term

TLDR, good investment for long term and own stay.

spursman, do you see many dodgy tenants there. like "undesirables" or airbnb? and do you ban airbnb? thanks

This post has been edited by corleone74: Oct 3 2018, 10:43 AM

undesirables? not really, there are a few african people living there now but they are quiet and mostly keep to themselves, its a quiet condo with low residency and is well built with decent facilities considering its size. the only irritating thing are the few stupid dumbasses who smoke in the stairwell and throw their butts down, but we have asked the security to keep an eye out and catch the fuckers who do that shit and impose the RM500 fine on their unit.

we cannot ban airbnb as there is no such provision under strata title.
to my knowledge a few of the foreign owned units are airbnb units but i think that number is less than 5 units.
in any event, we are taking steps to register all the nonrental/non owners visitors and it is being implemented as you need a card to go up to any residential floor.

One of the most underrated condo in mk but is one of the best for own stay . Just the maintenance fees zzzz . If not I’ll shoot for sure ... nice pool nice gym nice semi furnished units .

you can ban short term rental airbnb under new bylaw, don't need provision under strata law. just need to table a motion and vote during AGM, or call EOGM.


This post has been edited by corleone74: Oct 3 2018, 05:56 PM

how can it be best for own stay when everytime u come out it's kampung surrounding. anyway , i wish the owners of AK3 well, and hope it doens't become populated by undesirable tenant.

Low density . Kampung surrounding still okay la better than you stay at cheras or kajang . I see this condo will make it in the long term . Yuk Thung lets go

100 unit / acre is low density?

So did the unit sold?

It doesn’t matter. 10 acres 600 unit or 50 acres 5000 unit . I want less people staying that’s all . 1 acre or half acre it doesn’t matter

What type of surrounded village? Illegal or reserved land village?

Other than the location another reason that affect the capital appreciation of this development should be the high maintenance cost. Buyer would factor in this as part of their cost to purchase. MK Sophia and hijauan kiara shows similar trend.

Yes because of the low dense factor . Sophia is very very expensive . Hijauan less transaction nowadays. Big size and hefty maintenance

The price is pretty cheap despite it's prime location (mount kiara) and the unit is pretty big.
However, I don't really like the kampung area as the road conditions and the kampung people attitude is not so good.

The club house for this condo is quite small and I saw the gym facilities are not well upkeep. The maintenance fee is bloody expensive for a condo with not much facilities.

we are actually in the process of getting quotations for the cardio equipment for the gym.
for a small condo, we have a function room, a childrens playground, a pool, a gym, a games room, a reading room and squash court. i think thats not bad facility wise for a small condo with only 160 units.

recently we have converted the water feature into a koi pond, although the pond still needs more koi as its big.

we have been constantly reviewing the facilities and constantly upgrading as per necessary, it takes time but its getting done. we have a small but very dedicated group of owners on the management committee.

is there any effort in place to bring down the management fee? and also I heard there is a second guard house at the back of the condo. will there be an access to Jalan Kiara 4?

This post has been edited by nazween11: Dec 24 2018, 12:39 PM