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> SUNWAY VELOCITY | V RESIDENCE 2, [MRT PROPERTY]

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legioss
post May 13 2018, 11:44 AM

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I guess that price paid is for the location and being an integrated development. I believe one Cochrane is also selling about the same price? I think that Azure project near paradigm mall also about that price but not sure about the interior finishing.
gks
post May 13 2018, 12:06 PM

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QUOTE(BEANCOUNTER @ May 5 2018, 03:41 PM)
seriously I have the 'luxury' of visiting few so called sold rm1000psf apartments recently.....

you will be surprised that all these apartments are basically rm400psf furnishes. What ever extra you paid is for the location.
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It is not just location but concept as well. For example to develop mix development require more experienced project team due to complexity as well as strong cashflow due to some components are hold as investment portfolio. And if the residential is built on top of basement parking, mall etc. it will take long time before developer can bill the progress billing. Classic example is Ekocheras, KL Gateway, Tropicana Garden and of course Sunway Velocity.

The developer needs to include all these factors when price the product.

A RM1k psf mixed development versus RM1k psf standalone condo is different animal even though located within same proximity.

This post has been edited by gks: May 13 2018, 12:07 PM
BEANCOUNTER
post May 13 2018, 12:22 PM

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QUOTE(gks @ May 13 2018, 12:06 PM)
It is not just location but concept as well. For example to develop mix development require more experienced project team due to complexity as well as strong cashflow due to some components are hold as investment portfolio. And if the residential is built on top of basement parking, mall etc. it will take long time before developer can  bill the progress billing. Classic example is Ekocheras, KL Gateway, Tropicana Garden and of course Sunway Velocity.

The developer needs to include all these factors when price the product.

A RM1k psf mixed development versus RM1k psf standalone condo is different animal even though located within same proximity.
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mixed developments usually managed to get 4 yrs or 4.5yrs and even 5 yrs is not uncommon.

standalone development 3 yrs nia, unless its mass and high density macam vertical.

cash flow wise, its better for mixed development no as far as developer is concerned? you build yr own shopping mall and office but resi buyers need to pay for the foundation already.

trop garden is classic example, the foundation all finished, resi paid for foundation then developer man man lai to get the mall done.
gks
post May 13 2018, 01:43 PM

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QUOTE(BEANCOUNTER @ May 13 2018, 12:22 PM)
mixed developments usually managed to get 4 yrs or 4.5yrs and even 5 yrs is not uncommon.

standalone development 3 yrs nia, unless its mass and high density macam vertical.

cash flow wise, its better for mixed development no as far as developer is concerned? you build yr own shopping mall and office but resi buyers need to pay for the foundation already.

trop garden is classic example, the foundation all finished, resi paid for foundation then developer man man lai to get the mall done.
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Of course no. To build mall, dig basement, piling etc will take more time. The construction cost will have to come from bridging loan or internal fund. Unless you buy from MEH where it is commercial property (non sch H) where it is heavily billed upfront.
michaelchang
post May 13 2018, 08:48 PM

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I think we might see some lelong on this property by early or mid next year. The price of this property is not sustainable given the rental price at this area.

investors on this property are bleeding every month
legioss
post May 13 2018, 11:30 PM

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most property bought two or three years ago are overpriced compared to the rental, at that time, the salesman all were pushing their property with speculation the rental will go up three years later when the property completed, today we know that didnt happen but if we learn from DPC project which were purchased by rich people at the beginning because it was also overpriced, normally these buyers have the holding power
johndisaster
post Jun 11 2018, 05:20 PM

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how's the vp process getting along? so far so good on the defects rectificaiton?
bigman
post Jun 11 2018, 05:33 PM

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QUOTE(michaelchang @ May 13 2018, 08:48 PM)
I think we might see some lelong on this property by early or mid next year. The price of this property is not sustainable given the rental price at this area.

investors on this property are bleeding every month
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really?

but i get the rental not bad.... and based on agents... the demand is quiet good.... market is improving.... many expatriates from O&G industry looking this kind of property,,,, fully integrated ...vibrant commercial activities day and night.... public transport and near to city center....
michaelchang
post Jun 14 2018, 09:23 PM

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QUOTE(bigman @ Jun 11 2018, 05:33 PM)
really?

but i get the rental not bad.... and based on agents... the demand is quiet good.... market is improving.... many expatriates from O&G industry looking this kind of property,,,, fully integrated ...vibrant commercial activities day and night.... public transport and near to city center....
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investors taking 80% loan will have to pay Rm$4000 + maintenance for a 2 bed 2 bath

rental at the moment ranging from RM$2600-3000

How long can tahan bleeding every month RM$1500-2000?

Those that take 90% loan.. no eyes see..


poilam
post Jun 15 2018, 11:52 PM

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QUOTE(michaelchang @ Jun 14 2018, 09:23 PM)
investors taking 80% loan will have to pay Rm$4000 + maintenance for a 2 bed 2 bath

rental at the moment ranging from RM$2600-3000

How long can tahan bleeding every month RM$1500-2000?

Those that take 90% loan.. no eyes see..
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I thought here is now mostly occupied by China Chinese amdnrental rental could go up to 3200-3500 for two beds rooms?
michaelchang
post Jun 16 2018, 12:44 AM

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QUOTE(poilam @ Jun 15 2018, 11:52 PM)
I thought here is now mostly occupied by China Chinese amdnrental rental could go up to 3200-3500 for two beds rooms?
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$3200-3500 are prices quote by agents trying to sell u the place, actual rental price for 2 bedder is 2200-2600
SUSMNet
post Jun 16 2018, 09:25 AM

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2600 is non furnish unit?
michaelchang
post Jun 16 2018, 11:29 AM

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QUOTE(MNet @ Jun 16 2018, 09:25 AM)
2600 is non furnish unit?
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empty n non furnished unit = $2400 after nego

This post has been edited by michaelchang: Jun 16 2018, 11:33 AM
bigman
post Jun 18 2018, 09:41 AM

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QUOTE(michaelchang @ Jun 16 2018, 12:44 AM)
$3200-3500 are prices quote by agents trying to sell u the place, actual rental price for 2 bedder is 2200-2600
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are you owner....? pls dun talk nonsense...


ryan@chua
post Jun 20 2018, 10:41 PM

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celinek
post Jun 25 2018, 11:48 AM

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QUOTE(michaelchang @ Jun 16 2018, 11:29 AM)
empty n non furnished unit = $2400 after nego
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Are you owner? VR1 or VR2?
celinek
post Jun 25 2018, 02:04 PM

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QUOTE(johndisaster @ Jun 11 2018, 05:20 PM)
how's the vp process getting along? so far so good on the defects rectificaiton?
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Are you owner?
j0hn____
post Jul 7 2018, 07:05 PM

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3 MRT + 2 LRT , sunway velocity 2 new condo .. only sell from RM 900 psf

This post has been edited by j0hn____: Jul 7 2018, 07:06 PM


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owj
post Jul 7 2018, 07:32 PM

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QUOTE(j0hn____ @ Jul 7 2018, 07:05 PM)
3 MRT + 2 LRT , sunway velocity 2 new condo .. only sell from RM 900 psf
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Looks like Sunway is connecting to Chan Sow lin too! Wow

This post has been edited by owj: Jul 7 2018, 08:15 PM
Quang1819
post Jul 7 2018, 07:59 PM

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This post has been edited by Quang1819: Jul 7 2018, 08:01 PM

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