( Note - Forumer has asked me to post the BSP Facebook Page here: https://www.facebook.com/groups/603763113052727/ )


Almost RM400k for 3-room Service Apartment in BSP. Price ok kah? With 1001sf, means is RM400psf!


Thursday January 10, 2013
LBS eyes the middle class, launches RM320mil GDV high rise development

PETALING JAYA: Developer LBS Bina Group Bhd is targeting the middle market segment with its first high-rise property project - BSP Skypark - in Bandar Saujana Putra (BSP), Jenjarom.

The BSP Skypark serviced apartments, with a gross development value of RM320mil, was launched yesterday and is targeted for completion by 2016.



“We started piling works (for this project) last month. We will be able to complete the project within three years.

“The company is also looking at upgrading certain stretches of (main) roads to three lanes and improving the facilities of this area such as landscaping,” LBS managing director Datuk Lim Hock San told journalists after the launch.

Lim said there were now about 6,600 completed landed properties in Bandar Saujana Putra, adding that he expected sales for the BSP Skypark to be favourable.

“We are moving into high-rise developments in BSP and are confident that BSP Skypark will receive a positive response due to its affordable pricing.

“The focus of the property sector has shifted to affordable homes and with experience in this segment LBS will continue to support the Government's initiatives to increase home ownership among Malaysians,” Lim said.

LBS said in a news release that the BSP Skypark is a 99-year leasehold development of 689 serviced apartment units and 32 shop units that mainly caters to first time homebuyers and young families.

These units are priced from RM399,900 with a gross built up area from 1,004 sq ft with three bedrooms, two bathrooms and two parking lots per unit.

The shop units with a gross built-up area from 1,030 sq ft are priced from RM618,000.

The 24-storey high-rise BSP Skypark is nestled on development land area of about 5.26 acres which is located about 40km southeast of KLCC and around 30km from Petaling Jaya.

LBS is offering incentives to buyers of the serviced apartments and this includes a waiver on legal fees for sale and purchase agreements (SPA) and deed of mutual covenants (DMC), an eight percent rebate per unit and a one year free service charge.

Commercial units buyers will get a waiver on the legal fees for SPA and DMC.

Bandar Saujana Putra has close access to highways such as the PLUS' North-South Expressway, Lebuhraya Damansara-Puchong, South Klang Valley Expressway and the KL-Putrajaaya Highway.

On a related matter, Lim said LBS also aimed to launch another apartment project in Bandar Saujana Putra in the third or fourth quarter of this year.

This post has been edited by lioncarlsberg: May 24 2014, 09:13 PM

aiyo. now got 3 skyparks. developer not creative with names

One of them is MCT in Cyberjaya. Another one is which one?

400k...? saujana putra? a bit expensive.

How far from the rimbayu

Near Subang airport. MCT is the first with that name I guess.

Btw, where is the exact location of BSP Skypark?



This post has been edited by 1282009: Jan 12 2013, 11:03 AM

400 psf a bit expensive lah. ... that place maturity is malay. .. as I know on 6 month ago.

Agree with you, It is quite expensive if RM 400 psf onwards for a service apartment at BSP although almost everywhere in KV had been selling over RM 400 psf for new launches.

As BSP is going to be more develop, catalyst of Bandar Rimbayu is there, LBS should open up some gap for early buyers to enter for more affordability and also leave some room for early phase buyers before the future phases can reap in more profit and more GSV.

wats the exact location ???

Their branding is quite weak due to their previous track records

Rename to Skyfall, no need do extra branding.

Maybe the popular D'Island residence has helped it to redeem part of its image.

They are doing a lot of PR work now. Not sure how far it will help.

Mind sharing more details? LBS had some failed projects?

Not really failed projects, I think.

Basically, during the earlier years, they were focusing on mass low costs projects when most well known developers move to high rise. When the crisis hit, there were caught and have been trying for several years to get out of the financial mess they found themselves in. They have resorted to selling land to ease their cash flow problems. Until two three years ago, they were back onto their feet and have been focusing on medium range projects and that's when they also started to pay dividends once again. Not bad for a Chinaman company who also believes in paying dividend to its shareholders.

They have plenty of landbank and it will last them for many years to come.

It's actually very expensive, for something in BSP. Single storey terraces were like 100k+ when launched, now probably still below 200k

I agree, most of the single storey terrace houses are selling in the range of less than 300k.

yup. expensive for a place that have no supermarkets, no school and need to pay toll to enter. if below rm300k i think can consider.

Seems like they are selling for future pricing. Nearby neighborhood RIMBAYU and the proposed MAHSA university seems added value to BSP.

As usual, its always cheaper to buy the sub-sale existing low cost house/single storey. But if you noticed, LBS is selling DSL, superlink, cluster-semi D and semi-D in BSP since few years ago, latest price tag almost reach 500k for their landed properties.

If compare to RIMBAYU 580k for landed house, I think most of the investor or home buyer is prefer RIMBAYU than BSP landed/skypark. But not everyone can earn that much. If someone want somethings NEW with the condo facilities at affordable price, I think they will go for the skypark. After discount is about 360psf, with this price we could not buy any NEW LAUNCH serviced apartment/condo in PJ/KL/Cheras/Puchong, not even Kajang right?

P/S: I'm not agent, don't shoot me or pm me

I see... I see... Thanks!

yea

Agree. Developer is greedy

Not really.. bcoz people keep purchasing.. partly developer fault, partly is the customers itself. Will see weather this unit will sell like hot cake or not. Once price drop i will snatch one unit. He3.

went to LBS office today, this unit got DIBS.. expected completion is on Jan-2016.. 3 years no need to pay a cent.. good buy?

kinda crazy now outskirt condo also selling 400 per sft, a lot of good subsale choice in PJ area. Can't really justify it myself but investor who sees the potential may have diff thoughts.

Anyway RI2 owner here, love the cozy location and it's accessibility. Make the decision w/o consider about potential of Canal City. Anyway if Canal City materialized after 10 years, this place is gonna be a very good buy.

400k say good luck to the greedy developer. Saujana putra somemore. ceh

For own stay just need to consider whether you like it or not. For investment oftarget for flip, good luck. Target for rental or long term investment, then ensure you have the holding power.

Agree with Mayshy (buyer of Saujana Permai ^^)

For own stay is worth cause its accessibility is very good.
It is connected to SKVE and NKVE and surrounded by LDP and KESAS.

Besides, it is around 400k for a new property that have good major highway connection that is not easy to find.

anyone booked?

IMHO, for own stay, how many residence looking forward to stay at the place? especially a place without much amenities with that kind of pricing?
For property investors that is looking for long term would target Rimbayu rather than tis,
wake up forumers!

Quite agree. But not easy to get a unit in bandar rimbayu. Now the waiting list is already thousands. In term of amenities, it will be ready soon. now with petrol pump in operation, speedmart and etc, live is lot easier there. Nowadays, numbers or BSP residence also has grown significantly. After completion of MAHSA college i think BSP will be full of life (I hope)

This post has been edited by platinum_12: Feb 14 2013, 02:12 PM

Yes, I think many people does not know where is BSP and not much interest of investor on BSP property compared to Rimbayu.
Last year 2012 about apr-may period when I visit the LBS town house pearl villa, its selling at 250k with freebies & rebate. But the sales and take up rate is not good. Less than 1/3 of the total rows are sold. What surprised me on Jan 2013 recently heard that the town house has been sold out and the last phase transaction price is at 310k.

Have a glance in the Pearl Villa fb community, a lot of people buy it for own stay.

I guess it will happened the same to Skypark. Definitely not a BBB project... Sales will be tough and going slow.
But after a while, when no other developers launch cheaper/similar price project, people will found that they could hardly buy 360k+ (after 8% rebate) new condo in KV other places. So they have to made the choices, top up more $, looking for sub-sales or further places, look for apartment or anything lower cost, register for prima... But I think they will still have some people which lower their requirement and found Skypark is a acceptable place to live in with the cost they paid.

I'm not sure whether this is a good investment.. I doubt you need to have really strong holding power.
If you have limited $, if your budget is <400k and want a NEW condo/serviced apartment, if you don't mind stay far abit in BSP (but still connected with major highway).. Skypark maybe is a place you can consider. Just my little opinion.

Actually where is the LBS office? Is it easy to find? Do they put signage or banners on the road?

RM310k for the townhouse? How big is the square feet?

the showroom is @ the BSP itself.. do you know where BSP anyway?

http://lbs.com.my/horizontal-items/residen...-villa/overview

only few units left, less than 10 if not mistaken..

Its 20 x 70. Built up about 1000-1100+sf
You can go to the sales gallery at bsp shop lot to check out. .

OK, that means something slightly bigger than a standard apartment. And about RM300psf.

I think the main advantage of pearl villa is its location. Next to petrol pump, bsp business park, future mydin and future school. And its also near to toll plaza.

Yes very fair comments.
Some more opposite still have large hectares land to be develop commercial or mall. Many potentials.

Thats why d price is high. In future i think pearlvilla value will easily reach 500k. Its good long term invesment.

If sky park sit beside pearl villa or opposite of it. Should have higher demand. . Lol

the opposite of pearl villa is plotted for mydin and school.. i saw the plot at TCS showroom..

Heard from LBS that mydin got rejected and they will do their own mall.
But probably they will commercial opposite that plot of land, maybe will have also those serviced apartment on-top of the mall?
I heard from LBS, they will have few high-rise after skypark, could be skypark 2 and skypark3.


They still have small plot of lands for serviced apartment -before thunnel, at the left and right side (opposite pearl villa) of the road.

oh, is that bad news or good news? mydin at least we know the price is cheap..
that is confirmed by their manager, all highrise project after this.. pearl villa is their last landed project.. after petronas, they already flat the land but none of the SA know what is the project there..

Heard like mydin is keep delayed. So the boss of LBS decided to develop their own mall and find other anchor supermarket tenants for the mall.
The land after petronas, if not mistaken heard from SA is their Skypark 2 or 3. Anyway, if the sales of the current SkyPark is so-so, maybe they will changed their plan again. Currently they are selling the Royal Ivory II (cluster semi-D) and Royal Garden (semi-d) which shall be their last landed project.

any idea what's the selling price of royal ivory II & royal garden>?

http://www.lbs.com.my/news-events/latest-n...l-garden-di-bsp

RI2 from 550k and RG from 699k.

The last 2 pages in http://forum.lowyat.net/topic/1355790/+1160 have some ppl discuss about purchasing RI2 and RG.
You can call the sales gallery to check out: @011 1233 0566/0577/0655

submit application to multiple banks and when i ask status most of them say KIV, due to not yet being panel with bspskypark.. anyone booked bspskypark and got loan approved? need to know which bank..

500k for townhouse?? I'll be happy if it really reach that price

My prediction only ma.. might be true might be not.

Royal Garden should had been sold out end of last year already. Left RI2. Well still pretty good buy compare to Pearl Villa & Sky Park, if budget allowed.

And Mydin rejected...hmm...pray for something bigger like the Setia City Mall is coming ..... (dreaming.....)

Still many rich ppl arounds
skypark for me is really 50-50
either it become somethings surprisingly really nice to be stay in.. or on disappointed side...

yup, since this is their first highrise project.. either it could be a great place (as a prove for their future project) or so-so only (next project sure no one will buy)..

Hmm.. maybe 60-40, coz i think they have a few next projects which is high rise too (skypark 2 or 3 etc).. so die-die LBS will make it to be a not-so-bad place...
Anyway, will keep an eye on this.. to see how things are progressing..

I've called the SA for Royal Garden project and she mentioned that this phase already fully book.
She also mentioned that she'll put my name under KIV if got buyer with loan rejected.
Is this one of the methods to increase the house price (instead of giving the promotion price)?
BTW, i think it's a bit pricey for BSPSkyPark.

This post has been edited by paperbosz: Feb 28 2013, 06:14 PM

Royal Garden is semi-d with larger built-up and have limited units, so not a surprise for me if fully booked.
Compare to Royal Ivory II which is a clustered semi-d, because LBS previously launched a few phase of clustered semi-d (Ivory Residence I & II, Royal Ivory I), so it make sense that the demand on Royal Garden is higher.

Actually referring to their FB page, that Royal Garden already sold most of it during soft launch and fully booked dunno 1 week or 1 month after the launching, very impressive.

No doubt Royal Garden is a good buy, Royal Ivory 2 comes next, and now you have Saujana Prima too. This Sky Park still need time...

When all the landed is sold-out, then only people will go for the SkyPark. Agree it still need some time...

last visit to their showroom is last 2 weeks and that time only 30-40% unit booked..

LBS said they target for skypark to be sold out in one year.
Initial launch during Jan, so still have another 6-7 months to go.. no rush

I agree with the point that compared to nearby landed, SkyPark is a little bit overpriced.
But when all the landed sold out and no more land, people may only have option to go for high-rise which is SkyPark.

I think the sales will pretty similar to Pearl villa townhouse, selling slow but will be sold out after 1-2yrs launched.
Pearl villa launched at Q3 year 2011, the sales rate is very low and not encouraged at all.
My last visit to Pearl villa on Q2 year 2012, less than half of the townhouse sold, and the price stagnant at 250k with rebates.
Now almost most unit in Pearl villa have been sold out (with few units still available due to loan rejected), and the price gone up to 310k with rebates. Paper gain 50k+ for the first phase buyers

Wow, another Sky Park again?

Looks good, but can LBS deliver it? hhehehehee ...

Got pontential...They will... Cheers!

This post has been edited by savants: Mar 15 2013, 08:55 PM

Panel Bank : Maybank, MBSB, HLB, CIMB ...more to come . TQ

I think one of the cons of the project is leasedhold year only until 2094, which means when VP on year 2016, it only left 78 years right?
Why don't LBS renew the leased hold year to 99?

Yes, you are right but again its make not much different if for investment. 99 or 80 years i think seldom one will stay there for so long, as for investor, they usually will sell off their property within 5-10 years.
Also, there will be no problem renewing leasehold title.

i agree with mayshy, leasehold should have 90yrs++ upon VP then it will sell well.. i visit LBS showroom last couple of days, not much additional units sold compare to February..

are you LBS agent? keep this thread updated on your panel bank..

This post has been edited by mytaffeta: Mar 15 2013, 05:07 PM

Why bro? I dont see any problem if agent updating this thread.

Im fr Reapfield. We have taken over this project for LBS. Im here to assist. Dont hesitate to ask me anything and i will be glad to get the answer for you.
Thank you.

Project launching will be on 23 & 24 Saturday / Sunday ,March.
All guests are invited.
TQVM

Dont worry, i will keep it updated from time to time.

Mike Chee
Reapfield Puchong

This post has been edited by savants: Mar 15 2013, 08:00 PM

Reapfield is also d one who sell pearl villa until no one left. really eager to see wether you can repeat it again. But what will be lbs plan to ease traffic congestion once sky park project is completed. N know what, bsp resindence already paying d toll of this project. Our road to our home get damaged and dirty and dusty. Once before we only wash our car once a week but now 3 times a week.

Yeah... we have done well for Pearl Villa, guess LBS will want us to repeat it again...hopefully finger crossed.
I think you can go to the LBS office and make an official complaint. LOL... please dont tell them i told you to do this... LOL

We will go to mdkl to lodge report. Very soon.

not a problem bro, just ask him if he an agent so that i know his information came from internal which is accurate.. Reapfield took over from LBS for sales is it? anyway im one of the bspskypark buyer..

Cheers... Congratz on owning a BSP SKYPARK unit! TQ for your support!!

This post has been edited by savants: Mar 15 2013, 11:26 PM

400k at bandar saujana putra with a leasehold land title? total joke! better off by somwhr in cyberjaya with that money....freehold summore...many mnc company oso

No, I think your point is wrong.
It make very much different if its for investment.

Normally for leasedhold property, after 5-10yrs the owner will sell their property off, but that time the leasedhold year is 99 - 3 = 96 - (5 or 10 yrs)
So if left 90yrs ppl will still want to buy subsales from you. If left like 86 yrs, sounds still ok to buy as subsales.

But for skypark, after VP only left 78 years. After stay there 5 yrs, you want to sell, want to find ppl buy the left 73 yrs leasedhold property from you, I doubt it could be not easy. If you stay > 10yrs, and only left 68 yrs? Don't forget the buyer can't get 90% loan or bank just simply don't approve houses with < 60yrs leased hold. Good luck then

It depends on whether developer apply / able to get the leasehold extension either upon before S&P sign, after S&P signed, after handover / VP or when strata title is issuing few years after VP.

80+ years remaining lease properties, depends on buyers interest, but value doesn't big effect to the market price, same goes to 70+ years lease remaining.
If buyers interest drop, normally owner will lower down the price as day by day and month by month gone, lease period is reducing hence, owner need to have a mindset game.

FYI a lot of cyberjaya come and live in bsp. 400k in cyberjaya? Mind to share where n what is d built up.

Agree

Hehe, RM 400k in Cyberjaya, as I know mostly are SOHO or smaller size apartment. Unsure it has old terrace house at Cyberjaya border or something far from those MNC caps. Cyberjaya is so huge anyway.

i mean for that pricetag people would in their logic mind better off buying a double storey landed house in bsp....the thing with this ridiculous price point of new development right now is u guys the consumer keeps buying watever the absurd pricepoint intro by the developer in a land not even that strategic...

subsale of cyberia smarthome, crescent 1 and crescent 2 doesnt even reach 400k, 290k-340k-350k at most....with a proper 1000+sqf....400k is the price of smarthome n crescent 2 townhouse 1700+sqf subsale price....dont just look at the price of new development...

but those places u mentioned above mostly stay by students...doesn't think to be a good environment for family + cyberjaya cost of living (food especially) is much more higher than area like bsp, dengkil...a decent double storey in CBJ will cost around 900k (the last time i asked)

Seems like developer no intention to renew/extend the leasehold year.
From a buyer perspective, I would worry that if I buy a 70+ years lease remaining.
The resale value would be not as good as freehold and those 90+ years lease remaining.
If the lease remaining left 60+ then it would be even harder to find buyers.

Unless BSP grow to be another TTDI/Bangsar where the buyers interest so high

average rental income per month for crescent 1 & 2, more than 2k...my unit is 2.3k...students? you'd be surprise all my tenants is executive working in Cyber...freehold land title summore...food expensive? brother come n stay here for a while then talk....so many restaurant n foodcourt in cyber now for you to choose...thrs definitely budget eatery ard here if u properly look around....capital appreciation also gonna be faster in cyber compared to bsp....

260k will even get you a single storey landed house in science park 2 bdr pinggiran cyber subsale avg price, just a bit off multimedia university...

landed of course is expensive in cyber....research around for cyberia townvilla, a proper double storey property stacking up 1700+ sqf builtup freehold subsale still going around 400k+ , an auction unit as low as 340k++....rent by room your unit easily fetch more than 2.5k rental....a soho at bsp with starting at 400k? leasehold? areas full of low cost flat? swamp land? lol total joke.... better of buy ecodominiums at verdi symphony hills cyber starts from 450k freehold summore in a classy elite neighbourhood... .... food in cyberjaya is expensive? halo brother go to our burger king drive thru cyber there complete meal rm5.95.....that is fast food...malay restaurant mushroom in the domain there with cheap price....

im sorry i this reality check post will hurt your commission as a property agent in bsp....thing is ignorant ppl keep saying cyber is expensive while they didnt research properly cyber market situation...

exit from cyber to cloverleaf interchange and reach bsp? merely 8-10 minutes away drive....lol

Dont worry... people will buy whatever they like not based on what people told them. Its good that we have freedom to voice out whatever we think. People like cyberjaya and people dont like cyberjaya. Its normal...We agent commission is not based on one project only so dont worry ya.. TQ for your advice. Keep em coming.

they come n live in bsp, puchong or seri kembangan because they have a family n will buy cheaper sub 300k-400k double storey house somewhr near cyber....dats the logic....who in their logic mind would buy a soho at 400k leasehold in bsp full of low cost flat and woring in cyber???

better of they buy any condo, studio townhouse in cyber if they wanna do that!!

from investment and own stay point of view for people working in Cyber this development is already fail big time.... i suggest this development agent find any other ignorant prospect then...

check out propwall.my for cyberia smarthome, crescent 1, crescent 2 subsale and auction. smarthome of course a lot of students, but crescent 1 and 2 many executives working in cyberjaya. you can even advertise working exec only preferred...theres market there...buy a proper condo size unit. furnish it with what matters....if you can't get a full house rented to a single person at your exoected return, then rent by rooms, if by rooms it is too expensive for your working tenants, add more rooms. partition and such....lower the average rental rate per rooms...invest and price ur room, unit rental based on fundamentals and market demand....not by your own assumptions....i guarantee you will do well in cyber....

Skypark is a soho meh? ha3 cyber agen vs bsp agent.

This post has been edited by platinum_12: Mar 16 2013, 04:05 PM