Conclusion from Propcafe:
Conclusion :
Pricing, in terms of pricing, the units are offered at similar pricing to the Pacific series, 63 and Star, which I deem as not as more inferior to Midtown’s location. Whilst LRT is not a definite selling point, the developer sells the development on the merit of its locality and not so much on LRT connectivity.
With the current Jaya One Evo estimated asking rental of RM2000-2500 and subsale of RM 830psf, the Midtown project is deemed fair price in this location.
The facilities are rather limited, and to be shared with 2 blocks. Future development of the surrounding industrial estate should do well for this project. Location of being in heart of PJ, proximity to University Malaya, University Hospital, as well as easy access to Sprint/Kidex/Federal Highway means it is in an area with big population pool.
Target market ? Ownstayers perhaps – due to lack of new mass market sized condos (in the region of 1000sf) coming up in PJ. There are some rental potentials once the area develops, specifically for the smaller units.. But owners should expect a below average rental yield, due to competition from small sized units in the area (e.g. Pacific series, Centrestage). Large sized family units should be quite safe.
Upside potential on flipping – quite questionable, given its already rather high entrance price.
pj mIdtOwN, PJ SECT 13
Jun 9 2014, 12:53 PM
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