planning to buy an unit there... any idea rental is ok?
will leasehold an issue to sell ?
and any back review about this condo?

dude, u sure u going to hunt one here?

You want buy Gaya Bangsar?

Lelong unit check in. Drop from 720k (first auction price).
Now at re-auction the 5th round.
Smallest available size here. And only 1 such unit per floor.

Details as below:

32-05, Gaya Bangsar, No. 1, Jalan Bangsar Utama, 59000, Kuala Lumpur
Reserve price🔥🔥RM 467,100🔥🔥
Leasehold until 2106
657 sqft (Type E)
Auction: Jul 19 (to be updated!)

Wasting time buying one of these.

Overpriced ade.. Low rental too.. Same as nadi.. Someone bought studio rm800k, Rental only 2.3k. Crazy low ROI

What should be the ideal ROI?

Anyways I don’t see any significant capital appreciation in the next five years or so, especially with the large numbers of new units coming into the vicinity.

He must be an early buyer of a high floor unit and took up a furnishing package.

Otherwise he must have bought a mid-floor and took a full ID package.

No studio unit cost RM800k especially after the rebate.

Yeah rental rates have fallen of late.

Used to be able to get RM3.5k but these days any new tenancy max RM2.5k

Subsale prices not doing well also, can get a studio for as little as RM540k

oversupply...
like others said too low rental.. thus low ROI too...
it's tenants market nowadays

Yes studio with full id design package, fully furnished unit.. Bought direct from developer...

You bought there too?

Generally speaking, ideal ROI will be 6% and above.. My condo unit is still generating more than 10% ROI in PJ.. Bought in 2011..

If i were to buy condo, ill make sure that my ROI must be more than 10%. But these days condo is just too pricey.. No point buying if you have to fork out the extra monthly installment to pay the bank. Not to mention, the payment of other outgoings as well..

This is not a healthy investment unless the capital appreciation is expected to be super high. But with alot of condo mushrooming. I doubt so..

This post has been edited by Siao_Lang: Jun 18 2019, 11:25 AM

10% ROI in PJ for Condo?
not bad actually because some places I know can cover loan installment already happy... if included all the maintenance fee, tax etc. then making losses

Yes have a unit there, studio, mid floor, purchased 4 months to VP at RM540k after all the rebates. Mine is an absolute empty unit, only came with the air conditioning and water heater. Was a special promo while servicing my dad's Merc the SA said if listen to their promo can get free polish voucher.

Can't compare.
He bought in 2011 when prices were lower.

actually how to count ROI? Annual rental / Property cost?

or 10% ROI is it net of maintenance fees, annual interest etc etc?

lucky him..

I remember someone bought some condo in Shah Alam... around 300k in year 2008... now it's worth nearly 1mil with monthly rental around 2k (if I'm not mistaken)

Totally agree on the glut and limited scope for capital appreciation.

10% returns on ROI is damn good lah. My portfolio averages at 6.5%. But I take absolute nett. Meaning - rental minus all outgoing including income tax.

I guess it depends. I usually take gross rental per year minus all outgoings I.e maintenance, quit rent, assessment, agency fees if any, repairs if any, tax paid on rental divide by my total purchase price.

Which is not really true ROI but more of ROV, as if it is a leveraged purchase then my investment is only the entry costs + interests.

isnt this the correct way? cause ROI is based on net profit which is after all the expenses u mentioned above.

Unit sold at 510k today. Still slightly below last month reserve price.

A bit on the high side for a unit of that size.

Won't break even unfortunately.

Wow- still can sell for 500k?

Quite surprised it exceeded the RM500k mark.

Was expecting it to be in the low or under RM400k range.

But thankful in a way it did not drop to that price.

Personally I don't think lelongs are really worth it. The discount from low subsales isn't a big margin, and I would gladly pay the extra for peace of mind.

Oh, some lelongs like jalan ampang and hutan bangi ARE very cheap. But for a reason. Lol.

This post has been edited by LoTek: Jul 18 2019, 04:34 PM

Totally agree mate.

But I guess most of the lelong sales are cash.

People with loads of cash to spare

So most probably not too concerned about ROI or capital appreciation

then can just throw it at a desperate subsale. tell agents to hunt for you.