Sifus help pls.
1. Is this another entrance for arte? if not whats this building?
2. Is there other entrance for arte (another closer for human to walk to m city)? or the only entrance is the one in front of the elements?

Share a bit please

pm pls

So eager/early to buy? Wait until loan moratorium ends la, fire sale should come in 2021 when banks start taking action on loan defaulters (banks usually only start taking action after 3 months of failed loan repayment). Later cheaper and more selection.

M city lelong also come out liao. Maybe a little while more reizz residence and pavilion embassy (still incomplete) also join the lelong party too.

Lets see what the market has to offer before buying. Arte+ currently has more than 10 units pending anyway.
Just my 2 cents

Forgot to mention about picasso residence, which >80% of buyers are foreigners up to date. If they all lari, this condo alone will have 226 lelong units

So low so low. Pre-covid, lowest reserved price for elements was 369 psf, arte was 375 psf.

M city, dedaun, damai, embassyview, mutiara embassy, megan ambassy are now joining lelong.
Maybe m suites, reizz, pavillion embassy, neu suites, picasso residence will join the party in the future.

Jalan ampang new slogan: Now everyone can stay

TP <300 psf? Too many supplies. The rental will be much lower when astoria ampang and reizz residence is completed later

My max TP is 300k for 1000 sqft. Astoria and Reizz joining the party soon. This will crush the rental market. Just let the sifu's student panic buy 1st.

Maybe after banning airbnb, TP should rise abit as there's no need for long hours waiting lift and excessive maangement fee later for maintenance and repair.

Buyers should really just wait for the reizz and astoria to complete.
The current market share of 33% will be reduced to 20% with 2 more new condos being completed.

I think the bidders did not do their homework and just blindly follow gurus. The recently auction transacted price is higher than those in 2018/2019

If thats the case, we might revisit 1997/98 asian financial crisis property price drop (30-40% with the avg of 37%) for arte+.
Our Q2 GDP of -17% already rivals the AFC GDP drop, just curious why hasnt the property price drop as much as it did in 1997/98

Still have room to drop. They havent factor in the further depress in rental after reizz and astoria VP. More competitive rental price war in the future. After those 2 VP, all previous investors in this area will continue to suffer from a negative gearing investment.

I guess so. But there was a property that dropped 10 times selling at 65% price drop from reserved price. So... definitely could have dropped more if no buyers..
https://forum.lowyat.net/topic/4239930/+3960

But lets get back to M city: clearly it was still too high. It was auctioned at 46% more (540 psf) of that of arte plus and the elements' lowest auctioned price (368 and 369 psf), the buildings are literally side by side...
Even subsale elements cheaper than lelonged m city...
Elements - 460 psf

On top of that the, rental is destined to drop more when reizz and astoria VP, which will further depress the subsale price.

My best guess is the previous bidders either FOMO-ed or tricked by auction gurus' over-promised resale value in the subsale

This post has been edited by HereToLearn: Oct 24 2020, 02:53 PM

I thought at some point, after the price has dropped until too low, the banks reappraise the value and relelong again in the future?

Agreed. For sure, it will drop, owners will continue to suffer from a negative gearing investment upon reizz and astoria VP, and possibly rejoining the auction properties.

Wheres the exact location in google map. Mind sharing?

If super near to the 5 existing condos, This area... confirm have and will continue to fck investors, rental will be crushed, price depreciation will be further worsen

YET

Just to let you know that
1. the lowest psf ever recorded for arte ampang is 361 psf
2. Top up another 78k you can get 3 bed unit

On top of these 2, the rent is expected to continue free falling with Astoria and Reizz joining the competition (they just VPed).

Good luck!!

The lowest recorded price was 361 psf for arte ampang. Is it really cheap though?

Also, its rental yield is pathetic. Expecting the rental to be even lower in the near future with more competition from reizz and astoria.

If they are investors, I am wishing them luck with the rental yield

Even at the year-to-date cheapest psf of 361 psf, the net rental yield from the best deal unit available atm (1.62 psf) is only

(Rental psf - maintenance fee psf)*12/361 = (1.62 - .3)*12/361 = 4.38% (not inclusive the initial capital investment on the furnishing)


If no need to take loan, this yield is not bad la. But if need to take loan, there is so little meat left.

This post has been edited by HereToLearn: Dec 21 2020, 11:12 PM

Not smart bidder, nor smart investors. At such rental yield, if they cannot withstand the cash burning rate, I foresee seeing their units get auctions in the near future.

Too eager to catch the falling knife. Caught it at a bad price

If the rental rate rises, then it might turn out to be a good investment. But the thing is, astoria and reizz havent join in the rental market yet. When they join in, the rental market will be more competitive, and rental rate is expected to drop.

There are much better ways to make money now than property investment. There are a lot of relatively risk free investment that give you a return of 6% out there wink.gif