Thank you for your comment Sir.

Yes let me highlight what you said about developers doing a FAVOUR, and there is not much to earn and DIFFICULT to sell.

To me, by saying it's difficult to sell, it may mean that the price point is too high, or the value proposition put forward by the developer is too little.

Because PR1MA's income eligibility has been increased by 50% to RM 15,000 (from previously RM 10,000) a month and moratorium reduced by 50% to 5 years (previously 10 years).

With this very loose criteria, and if the developer still find it difficult to sell, I think it's about time for the developer to look back at ourselves and ask if we shall reduce the price and entice more buyers and allow their loans to be approved more easily.

I appreciate your comment, at least we both agree that developers find it difficult to sell. And in my opinion, with extremely LARGE NUMBER of units at PR1MA Cyberjaya Lakefront, the developer will not be able to sell off more than 50% of total units even after completion date.

This will create many UNSOLD units thus resulting in OVERHANGED situation.

As buyers, if we know the developer has many UNSOLD units, we may be at an advantaged position to NEGOTIATE for price reductions (which I'm suggesting about 10% here).

Hopefully you'd agree with my suggestion.

This post has been edited by pr1ma_owner: Mar 3 2017, 08:17 AM

Thank you Sir for your kind reply.

Let me enlighten you with one case of PR1MA at Alam Damai.

Yes you're right about PR1MA releasing batch by batch. This happens to PR1MA Alamd Damai as well.

BUT after realising this, anyone who meets the criteria of RM 15,000 and owning one house or less, can purchase it.

But then again, even after opening it to the public to walk in and make their bookings, STILL 30% units remain UNSOLD and OVERHANGED.

So I think I want the developer to realise that the market for this segment is soft. They must adjust their prices lower now to clear those vacant units.

This post has been edited by pr1ma_owner: Mar 3 2017, 11:00 AM

Hi guys! PR1MA will ballot for Cyberjaya 2 very very soon and I see the price is starting at only RM 274k with only 469 units!!!!

There's also option to have a bigger unit up to 1,000 sq ft.

Compared to this Cyberjaya Lakefront which has about 2,000 units, with higher purchase price starting RM 280k, I'm wondering if this is still a great opportunity for the buyers?

Must PR1MA and MCT develop a project that is super dense like this? I see many affordable housing projects having less than 500 units mostly. WHy must this project has about 2,000 units and cramping the future buyers?

Totally agree with you Sir

Yes I think it's pending balloting now and soon PR1MA will announce the names of the selected buyers. Should be very soon

Wow GADANG!!!! It's a highly reputable company. They're even involved in major Government infrastructure and rail projects such as MRT. I do expect the quality will be good for Cyberjaya 2

Congratulations! In your opinion, is it better than the PR1MA Cyberjaya Lakefront by MCT?

Yes I agree with you. But why is it then the project by MCT for PR1MA lacks the value proposition? Must they cramp the future buyers until need to build 2,000 units?

Should MCT reduce their selling prices or risk buyers pulling out from this project?

Thank you for your response.

In that case, do you think the buyers should negotiate for at least better price from MCT?

Of course can, but it depends whether the developer is desperate or not.

Think about it this way. There will be about 2,000 units. Seriously, no way that it will be 100% occupied with the current bad economic conditions and adverse investor sentiments.

Let say only 50% occupancy rate, due to high loan rejection rate.

And rather than just being vacant units for many years, MCT may have to force sell at lower price?

But it depends on the potential buyers to negotiate and be serious about this.

I mean it's not fair for the potential buyers to cramp with almost 2,000 other units and still pay RM 280k for 850 sq ft.

What say you?

With the higher facilities, mind you that the maintenance fee and sinking fund contribution per month will also be higher.

And think about it, sharing with almost 2,000 other families??? It's almost unimaginable.

Right now I'm staying in a serviced apartment with 300 other units. Feels like no privacy and highly populated. I seriously can't imagine living with 2,000 other families.

This is not a fair comparison.

Cos this is a PR1MA project which is supposed to be much below market price.

Compare it to other PR1MA projects such as Cyberjaya 1 and 2.

Why is this Cyberjaya Lakefront is too expensive with EXTREMELY high density?

So seems like PR1MA Cyberjaya 2 is in a better location, with much much LOWER density and surprisingly cheaper than PR1MA Cyberjaya Lakefront????

I'm just amazed on how could PR1MA allow such thing to happen that severely disadvantaged people who are selected to purchase PR1MA Cyberjaya Lakefront.

Swimming pool? Come on! With almost 2,000 families, let say they're married with 2 or 3 kids, so it would be almost 10,000 residents living in just one project!!!!!

And do you know what's worse than this? I heard the 2,000 units are only phase 1! There'll be another phase! so about 4,000++ units in the future upon full completion.

That's already more than 20,000 residents!!!!!!!

Do you think with that number of 20,000 residents, the swimming pool can be well maintained at all times?

This will result in higher MAINTENANCE fee and sinking fund EVERY MONTH!!!!!

Next, talk about the number of cars. Let's assume 3 or 4 cars per unit. it will be about 16,000 cars just from these 2 phases of projects!!!! Can you imagine thecongestion there?

The truth is, this project is INSANELY DENSE project! Even PPRT and low cost housing is not to this extend of more 4,000 units for the 2 phases.

Thank you so much for your response.

However, I beg to differ from you, Sir.

First of all, with much much higher number of residents, the assets will tend to depreciate faster. Why is this so? Just imagine 2,000 families using that swimming pool? hahaha... I guess every 2 months also sure there will be a need for repairs already.

And it's not like they're making many swimming pools to cater for LARGE number of residents. They simply just make more and more units LOL.

Thus this will push up the maintenance fee and sinking fund.

Take another example of the elevators. With 2,000 families using, can you imagine how fast the assets will deteriorate due to extensive usage?

Secondly, the location wise, Cyberjaya lakefront is not in CBD! End of story. Cyberjaya 2 is in CBD. So for sure Cyberjaya Lakefront is not in a better location. Let's be honest and neutral here.

Thirdly, the 2,000 units is just for Phase 1. There will be another phase, thus making the total unit number to 4,000!!!!!!

Seriously can you imagine how crowded it will be?

And the SJKC will even result in even worse road congestions.

And after all these points, Cyberjaya LAkefront is charging even higher than Cyberjaya 2? Tell me if this is a JOKE???? No????

So if we compare PR1MA projects, definitely this Lakefront Cyberjaya is overpriced.

Why do I say so?

Just compare it to Cyberjaya 2 which is in a better location that is in CBD. which has much much lower density, BUT price is lower than Cyberjaya Lakefront.

What's your views?

Thank you for your kind response.

I understand if there is a bit higher or a bit lower density. That's totally fine Sir.

But what is unacceptable here is the INSANELY HIGH DENSITY!!!!

I mean, it's just extreme.

First phase about 2,000 units and second phase slightly more than that.

SO altogether will have more than 4,100 units!!!

Imagine a family with 3 kids, so that will be a STAGGERING 20,500 PEOPLE living together in one proect.

I'm so sorry to talk about this, but this is just so glaring that will severely affect the lives of the people there.

Even low cost housing projects do not design it in such a way!!!

Thank you for your kind response Sir.

I think by you comparing with other private projects such as other condominiums with this PR1MA project is completely misleading.

Why do I say so? Because other normal projects do not get incentives like how PR1MA projects are!

So if you want to compare, please compare PR1MA projects with PR1MA projects. Otherwise, you will be comparing oranges with apples which is UNFAIR.

So if we compare PR1MA projects, which are Cyberjaya 2 and Cyberjaya Lakefront, you can see that Cyberjaya lakefront has EXTREMELY higher density, in a worse location, which is further away from CBD compared to Cyberjaya 2...and SUDDENLY selling at higher price than Cyberjaya 2.

Can someone explain to me if this make sense at all?

Just enquire MCT staff who has knowledge more on this project Sir.

Then you could clarify with him on other matters too.

Finally, thank you Sir for clarifying that there is INDEED another phase.