QUOTE(Bjorn1688 @ May 11 2019, 11:23 PM)
Had a peek at one of this today.
Was brought there by an agent to see several subsale units, pool was quite crowded today.
They also were having a fair on IDs and renovations, never realised what are in the market these days.
My take and it is based upon the Studio and 2 bedroom unit only :-
Pro :
-Very windy as you are the tallest building, the carpark podium itself taller than 90% of the surrounding buildings.
-Good build quality, credit to the developer and contractors. Clearly the developer knew what they were up doing.
-Tastefully and thoughtfully done up common areas.
-Quite a good location.
-Some studio units you could view KLCC, KL Tower and TRX
-Price is quite good though expensive for the neighbourhood.
Cons :-
-Not walking distance to a LRT or MRT station.
-Leasehold.
-Lake is a public access but will be maintained by JMB or so it seems.
-Some studios don't come with a nice view and faces MRR2 which can be noisy if you open the windows.
-Density on the high side.
Rental for a studio = RM1100 for semi furnished (all units are semi furnished by developer). RM1400 for fully furnished. 2 bedroom RM1400 for semi furnished.
Worth buying?? An interesting stat from a developer staff: 70% of buyers are under 35 years old, 92% Chinese and 80% of buyers are 1st home owners.
Lelong units? Probably won't be anywhere near as many as many are expecting.
This won't be a good indication of whether M Vertica would do badly or not as both are 2 very different types of properties.
Assume buyers bought for investment. Did minimal to rent out semi furnish at RM1100.
Bought at 300k. Loan 270k.
Monthly loan repayment: RM1278 (4.5%, 35 years)
Maintenance fees: (0.30 psf+10% sinking fund) X 450 sqft = RM148
Nett negative cashflow monthly = RM326
Exclude yearly cost such as quit rent, assessment fees, fire insurance, etc.
Not the worse investment.
Expecting Liberty Arc project off Jalan Ampang to fare much worse in the future.
1600+ units of pigeon holes studio. Come with identical full furnish from the developer.