Hi taiko, since u work near this place,
Any idea who is target tenants if wanna rent out? Or any idea who are puteri palma current tenants? Easily rent out?

Last I visited, puteri Palma seems have many vacant units n the carpark also has many vacant bays

There are some Koreans staying there too

The new mall should bring in more people

IOI advertised in the Star yesterday to sell their unsold penthouse

The vacant units are unsold or sold ?

Sold

How much is the rental rate there?

Hardly find any listing even in iproperty, seems like the sub sale transactions are pretty inactive

I have to disagree with that.i was looking for 1 around 1 year ago,the price was around 530k for 1200 sqft if I not mistaken. That was for the oldest phase. Seems like the rental there is good that it can cover installments that's why no 1 willing to let go now,while waiting for further appreciation because of the mall.

Nobody is selling not mean inactive sub sale meh....

At this price and being a decent family size unit, to fetch RM2xxx rental to cover installment is reasonable but did u notice that the whole place is very quiet n many vacant units even for the older phase...so it's good rental yield for units that were able to rent out but there are also many units that could not get tenants as unlikely there are so many owner are not bothered to rent out

Believed that the price should have gone up higher now in view of the mall opening especially this is a very low density project surrounded by a golf course

Honestly, I have no idea who are the target tenants. Since I am buying this for my own stay, I did not consider that factor in my decision.
I also don't think this property will attract a lot of tenant now. But once this township is mature, say maybe 5-10 years from now, that will be different situation altogether.

Buy for ownstay easier, within affordable budget, like the location and property just buybuybuy. Buy for investment if cannot rent out in 1 year installment plus maintenance fee very siong.

Last time when I wanted to buy there agent told me rental can target universities and hospitals nearby woh. How true is that no one knows,and in the end I also didn't buy.a bit regret actually.hahaha

finally found an agent who tells the truth...

I own a unit there already rented out for 3 years.. so far dont have any problem looking for tenant..

1st year rented to lim kok weng middle east, rm 3300monthly
2nd kind of desperate rent it out to african rm2800 pay one year advance
3th indian expactrade working in cyberjaya rm 3000 monthly

Target here mainly expactrade, mostly from cyberjaya and uni student from limkokweng..if u desperate africant will be ur last resort....can rent out anytime..

In mine opinion main reason that many empty unit there is all owner all kaya kaya dato and datin. All waiting for the mall ready the sell off.. they dont intend to rent it out anyway or choosy on tenant I dont know..haha

2nd is the owners there dont like rent to student and middle eastern people.

3th the owners looking for rental like rm 5k or 6k. By saying how much money they put into the id and renovations. In reality how many people can affort that rental. If for investment purpose dont have to renovate untill so luxury..

For expactrade in cyberjaya thier company only give rm 3k for them for house rental anything above 3k rental be very hard to look for tenant.

Above just mine opinion, I maybe can be wrong..chill...haha

Thanks for the good info, rental looks attractive, how much furnishing u provide?

Im consider lucky.. just do basic fan and light furnishing only basiclly empty unit when rented out..all the furnishing inside is left by the middle eastern students. Rented out empty but when they move out become fully furnish mine unit..haha

Puteri Palma Condo owners are mostly those buying for own stay / retirement and currently, the mall and commercial area are not ready yet; massive construction on going, this might be one of the reason why the occupancy rate is lower. Since is for own stay, some would just left their units vacant and not take the hassle to rent and manage the tenants. Some will just keep it as vacation use, kinda like weekend getaway from KL city? Another reason is, the phase 3 units were built then sell, if you say 2 years ago numbers of the units are not sold / completed transaction / renovation until end of last year / early this year, the vacancy obviously has increased.

The owners are good mixed of locals, more towards chinese and retired expatriate from korea, japan, vietnam, china, singapore and western country etc.

Rental wise, the target market are the expats working in Cyberjaya MNCs ie Dell, AT&T, Shell, HP; Pilot & Stewardess from Air Asia, MAS, Korean Airlines, Lecturers from the international schools ie Alice Smith, Nexus, John Hopkins and also the overseas students came here for study in the international schools, together with the guardian / parents. Also, the employees around serdang, sepang and bangi industrial area.

The rental rate for say 1,400 sq. ft. units can fetch around RM2,300-RM2,500 for a basic furnished unit with light fittings, fans, air con, kitchen cabinet, curtains and wardrobe. The units initially already comes with the air con, kitchen cabinets, water heater and shower screens. Whereas for a fully furnished units, the rental is around RM2,800-RM3,300 depend on type of furnishing provides. For bigger unit, may rent up to RM4,000 and units with interior design asking around RM5000-6000/month. Average return we are looking at around 4% for basic furnished and 6% for fully furnished units. (the rates are not applicable if you are buying from the subsale market now ) Subsales current transacted price at around RM550-600/sf. However, the demand >>> supply since there is still huge potential for appreciation and a lot owners are not willing to sell. Some unit sold recently mostly the few expat here previously for business purposes is now moving out from Malaysia.

The same rental you may expect for The Clio residences and most likely the units will also furnished with air cons, kitchen cabinets, water heater and maybe shower screens too. If that's the case, your furnishing cost to prepare the units for rent will be very minimum. around RM10k for basic furnished units with built-in wardrobe.

This post has been edited by vinctan88: May 30 2014, 03:16 PM

Vinct88, how many car parks would be provided for clio residence?

Based on the SA explaination, each unit comes with 2 car park.

Thanks Nidz
So.. we would expect 2 car parks, free air conditionals , free kitchen cabinet, free water heater, free shower screen ? 😆

remember someone mentioned that they will build a bridge link to ioi city mall? anyone can confirm? i checked, it's opposite the highway, so it's basically not 'walkable ' to the mall...