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Investment SQWHERE @ KG SELAMAT SUNGAI BULOH [OWNERS' THREAD], Inner KD. Located close to MRT. By SDB.
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Cavatzu
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 Dec 15 2022, 11:05 AM
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QUOTE(gks @ Dec 15 2022, 09:59 AM) Basically at the peak of MRTl linked projects hype, developers have priced a premium into it. Imagine this location developer selling RM750-800psf? Also locality here ain't that great... Now so many options even with MRT with greater amenities. I can see same issue will happen to a locality in Cheras. Every projects there bank on MRT but nothing around it.... I had family buy here at 800 psf. I felt like slapping them cause I felt they should know better. Luxury lifestyle in Sungai Buloh kononnya. Yes at half the price the ROI makes sense. |
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Cavatzu
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Dec 16 2022, 11:49 AM
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QUOTE(PAChamp @ Dec 16 2022, 09:56 AM) I noticed that in Lowyat forum, folks tend to shoot down a development they aren't interested in OR after they buy they try to play it up... its human nature. Folks seldom refer good projects to others here but quietly go and buy themselves.... Haha sorry dude. I know I touch a raw nerve with you on this project whenever I criticize it. But it’s true, this was the quickest burn of $400k ringgit I ever saw in my life. I can’t help but use this as a cautionary tale. If someone talks up a project they will get labeled a SA. It’s easier to be an armchair critic you see. Everything is subjective except for sales records and rental rates. So that’s the best way to form an opinion of a project. |
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Cavatzu
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Dec 16 2022, 07:07 PM
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QUOTE(PAChamp @ Dec 16 2022, 03:34 PM) No worries dude. In life you have some hits and some misses. This was a sure miss for me but as i am conservative, I will buy the smallest unit for investment purposes. So my "losses on paper" is not 400k (for the bigger units) but maybe around 50k only  . Psst another secret.... investment units i usually co-invest then my personal loss is even smaller.... My cousin bought the 1k+ sqft unit for almost 1 mill telling me it’s the new DPC. So do I slap the fellas now or later? It’s a I told you so moment because I said that’s PJ/MK prices and they didn’t see the difference. I saw the project and my jaw dropped it really is in the middle of nowhere. That’s why my beef with this project. Because I couldn’t save him I feel the need to bleat out when I can against something I know just doesn’t make sense. This post has been edited by Cavatzu: Dec 16 2022, 07:14 PM |
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Cavatzu
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Dec 19 2022, 01:23 PM
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QUOTE(nihility @ Dec 19 2022, 10:02 AM) Yes, that is the main issue. The location is not an issue but the pricing from the developer. The developer have earned all possible future market value , there is not much meat left for the investor looking for the capital gain. This is a 500 psf area at best as it is now. It’s not even about any gain, doubt they can break even until Kwasa Damansara is complete and mature in maybe 10 years time. |
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Cavatzu
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Dec 19 2022, 05:42 PM
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QUOTE(temptation1314 @ Dec 19 2022, 05:28 PM) HAR? NEW DPC? lol I laugh so hard. This really proved your cousin didn't even bother to do his homework and investigate the area. Na it was even “better” than DPC because there’s MRT. |
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Cavatzu
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Dec 19 2022, 06:32 PM
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QUOTE(Ch0wCh0w @ Dec 19 2022, 05:47 PM) If you offered this price to any owner right now, they'll let it go without any conditions or negotiations The cheapest one on the list is $375k for 1055 sqft. 355 psf! It’s cheaper than Rumahwip for SDB quality wei. Wonder why no one is picking it up after 6th round. Something is wrong... |
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Cavatzu
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Dec 19 2022, 09:09 PM
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QUOTE(Ch0wCh0w @ Dec 19 2022, 09:00 PM) That's sounds so sad. Seems like a good price but even Rumawips are wanted at a higher price. Any owners here want to share their unit quality or something The quality is actually good. The facilities are quite amazing and unit layout is premium. But wrong product for the area. Still a good own stay or if you wanna give factory workers a 5 star experience. When you go on property portal under Buy, it’s telling when the only ads showing up are auction ones and outnumber sub sale one. This post has been edited by Cavatzu: Dec 19 2022, 09:20 PM |
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Cavatzu
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Dec 20 2022, 04:49 AM
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So for people who say price/ future prospects don’t matter for own stay.
You now have a fairly high end building that is great for own stay on most accounts halve in value. As such the rental prices are also low. The units are being subdivided and rented to factory workers / refugees. Is it still an ideal place for own stay when your community has gone down drastically.
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Cavatzu
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Dec 20 2022, 10:45 AM
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QUOTE(nihility @ Dec 20 2022, 10:21 AM) What is the maintenance per share unit for the SQWHERE ? 1 share unit = 1 sq.m = 10.76 sq.ft. Looks like it’s 38 sen psf. So not particularly cheap. Mind you there’s a lot of big sized units. |
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Cavatzu
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Dec 20 2022, 12:37 PM
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QUOTE(michaelchang @ Dec 20 2022, 12:19 PM) If this is true, good for owners because the value will not drop so much. If half occupied by foreign workers, the value will dropped till RM$200/sqft at this area The price has dropped to the point where it’s almost like budget accomodation. The demographics of the area is what it is - factory workers and refugees. Don’t know if it’s feasible to keep these types of tenants out if they are willing to pay. Most owners would keep their mouth shut about this as the bleeding has become severe blood loss. This post has been edited by Cavatzu: Dec 20 2022, 12:38 PM |
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Cavatzu
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Dec 20 2022, 01:24 PM
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QUOTE(jojolicia @ Dec 20 2022, 01:07 PM) $375k is a lot for a half peace of mind elsewhere. Property is one ticket that you want it to be a peace of mind purchase I don’t think you can do much better at that price point. Yes if you paid 800k+ for it which was SPA price then yes 😭. This is still technically a TOD with SDB build quality - there is a floor price for sure. The only thing that will degrade the price further is if only degenerates live in the project. |
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Cavatzu
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Dec 20 2022, 02:34 PM
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QUOTE(jojolicia @ Dec 20 2022, 01:27 PM) Bro, re-read my sentence there in 'a half peace of mind... ' Don’t get it. The mind has already gone when the value of your property has gone down by half. This is pretty much a floor price for a 1k sqft unit. So I think there’s relative peace of mind at this price point or lower. |
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Cavatzu
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Dec 20 2022, 03:38 PM
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QUOTE(sadukarzz @ Dec 20 2022, 03:15 PM) all day all night to those that dont believe me? come visit night market on thursday night behind the kampung baru sungai buloh side wanna go darker? go visit daikin warehouse 2 on sundays you'll have hard time believing that this is malaysia Oh crap when it becomes like this 💩 then game over. Locals won’t want to live here own stay or not. I won’t slap my family but have to give extra ang pao to the kids during CNY. |
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Cavatzu
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Dec 20 2022, 04:58 PM
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QUOTE(nihility @ Dec 20 2022, 03:39 PM) It is expected, the whole piece of land adjacent to Kwasa Land is actually Sg. Buloh industrial land - there are a lot warehouses & factories behind the Kg Baru Sg Buloh. Hence it is norm to have the foreigners living nearby at the present. What the buyer believe is that the industrial land will be relocated in the future because land at the prime area is getting scarce - something similar like PJ Section 13 and 14 industrial land converted into residential in the future. The early buyers buy in the hope that they can enjoy the early mover advantage but what they didn't realize, they already paid for the premium / expected to be made in the coming years. Section 13 and 14 land is very sought after for residential. So your Ryan Miho will easily retain its value easier than the mess here. By the time all the stuff in Central Park Dsara hits 800 psf then maybe Sqwhere can get back their SPA price. Don’t know if we’ll live long enough to see it before the building is devalued because of age. |
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Cavatzu
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Dec 22 2022, 05:10 AM
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QUOTE(Ch0wCh0w @ Dec 22 2022, 01:51 AM) MK is flooded with condos anyway. I'm more hopeful towards Cheras Both of them are at the end of the line pretty much when there’s so much development still coming up before them. They will be suppressed at these low prices for a long time. Give a bit of an edge to WOTP as it really is for own stay. This Sqwhere if the residents are of a certain stature then game over. SDB has built the most atas foreign workers’ dorm - there is some pride in that. This post has been edited by Cavatzu: Dec 22 2022, 05:12 AM |
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Cavatzu
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Dec 22 2022, 08:24 AM
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QUOTE(1ullaby @ Dec 22 2022, 08:13 AM) Mama mia…. Don’t go and buy something base on your hope then Classic keyboard commenting ni What to do? Sungai Buloh was sold as the new Damansara and Cheras is sold as the new Ampang? Even Ampang market itself has combusted. |
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Cavatzu
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Dec 22 2022, 12:25 PM
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Nothing personal. It’s really a case study on why certain locations or developers didn’t work. Then it becomes an analysis on the the product mix, target tenant/residents’ base, future prospects. It’s meant to be educational rather than being mean spirited la. Although I admit there’s an element of kesian in it. It will continue to crop up with each Lelong announcement when someone will inevitably ask what went wrong.
This post has been edited by Cavatzu: Dec 22 2022, 12:27 PM
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Cavatzu
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Dec 22 2022, 01:43 PM
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QUOTE(mini orchard @ Dec 22 2022, 12:32 PM) Every buyer will get' scammed' again if he wants easy way to property ownership. Selling is always easy with freebies, no matter what products. To be fair, it wasn’t that long ago people queued up for a new property launch or even paid kopi money to secure a choice unit. People just need to shake that mindset but the good stuff will still go quickly. The sales and loan cycle has been made very easy for those who make the cut. The poor millennials/Gen Z of today do not have the luxury of ignorance or it will ruin them. |
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Cavatzu
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Dec 22 2022, 06:05 PM
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QUOTE(mini orchard @ Dec 22 2022, 02:11 PM) Why not ? A developer cannot make another similar property unlike factory process. Can any developer create another master piece for the same price 10 years later ? If all property are the same, then all property should sell same price ? If every buyer can hold on to his purchase, no earthquake can crumble the price. It just goes back to the demand vs supply equation. The new builds need to be so expensive going forward that it pushes buyers back to subsale. It’s not happening and some projects now are being sold a lot cheaper than some launches from over 5 years ago likely because older land prices were inflated. This post has been edited by Cavatzu: Dec 22 2022, 06:06 PM |
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Cavatzu
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Dec 23 2022, 01:01 AM
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QUOTE(mini orchard @ Dec 22 2022, 08:29 PM) Property is not commodity trading where many investors think. So are blue chips klse. Even if one buy pbb at today price, he will cont to make a profit in 5 to 10 years later. If developers have to wait 10 years from land purchase to vp to make profits, why are buyers 'exempted' ? Why do you say developers have to wait 10 years? They might be landbanking or waiting for some type of hype. Conversely, there are developers that buy an available piece of land and develop and sell right away for their usual 20-30% margins. They will never lose money unless their things don’t sell at all. |
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