Anyone heard of the phase 2 of this condo (block c &d)?

around 1270 sqft 4 rooms 4 toilets. Indication price around 545k...

Official launching by early June.

Walking distance to IUKL, 3 mins driving distance to Uniten. Another booster is upcoming MRT line 3 will be located 500m from the condo.

Anyone familiar with this area? Appreciate your advice.

I think very good investment with the uniten lobbying mrt line 3 station here.

afterall tnb is crony.

Good size and design ( 4 rooms 4 bath ) for rental market. But how about the rental demand and rental rates ? What's the current rental per month for one room ?

Looks good, doesn't matter if the mrt3 is coming through.

This post has been edited by puchongite: May 17 2014, 07:53 PM

Just visited the sales gallery today. According to the agent, initially, there're 2 blocks (block C & D) for sales. But now, blocked D will be reserved for IUKL as 1st-year-student hostel coz its' original hostel will be demolished in near future and that piece of land will be used to build one 4-star-hotel and one service apartment. So, the only one block which is block C available for sales (120 units of normal 1270sft and 40 units of duplex). Price around 550k with possible 5-10% early bird disbursement. Price and discount will only be finalized during launching in June.
Booster would be
1. new IOI city mall
2. De Centrum mall (target completion by 2016)
3. mrt line 2 (uniten station by 2020)

Assume by 2018, rental goes up to 400 per student; one unit can accommodate 8 students;
Monthly rental = ~3200
Maintenance + sinking fund = ~300 (0.23 psf)
S&P price = 500k (assume 10% discount)

Hence, ROI = [(3200-300)*12 / 500,000] * 100 = ~7%
Cash flow = 3200 - 300 -2200 (installment) = 700

Looks like a sound investment eh? What do you guys think?

This post has been edited by peril123: May 18 2014, 04:08 PM

Not as easy as that. You agent right??

I am selling Polyethylene resin. not property. i am not an agent. haha.

If 400 is not realistic, conservative estimation should be around 300 per head right?

if so, roi = [(8*300) - 300] * 12 / 500,000 = 5%
cash flow = 8*300 - 300 - 2200 (installment) = -100 / month

would it make more sense?

Appreciate insight from others.

Thx for your advice.

Any comments/insight from others? Especially those who are familiar with this area. Would it be as rent-able as PV's condos in Setapak?

I think it might workable by 2018. As tis areas will be like mont kiara.

u can check 4 weeks ago the edage newspaper masterplan if u dont believe me.

i hope it happen. Good for my jadehill greenpark.

http://www.protasco.com.my/v2/index.php/he...l-the-edge.html

We are being very optimistic here...haha

Other than students from uniten, uikl & upm, any other potential tenants for this area?

MONT KIARA AT KL SOUTH

LIKE

what do you guys think about this design?




Attached thumbnail(s)

Looks like the layout indeed caters for rental.

Very small common area, all the available space have gone to the rooms and the toilets.

Wah good layout.

i just booked 1 unit today. RM5k booking fees. sample house will only be ready by 2nd week of june. But quite some units with good feng shui have been taken already.

According to the agent, iukl has ~4,000 students (50% foreigner), uniten has ~12,000 students (2000 are tnb trainees) and upm has 30,000 students (30% foreigner). Appreciate if anyone could verify these numbers.

What is the selling price?

How much you paid for it and your unit is low, mid or high floor ?

Which facing is the most popular ?

how much and is it residence block?

580k for 4 beds. Currently 3beds only rent out 1700pm semi furnished unit.

Floor 6, corner unit, door facing east. RM591k with 5+5% discount. Free 1 aircond for each room.

Refer to attachment, D-1-1 and D-1-9 from floor 3 to 12 have been taken already. Fyi, D(block d)-1(floor)-1(number). D-1-1 popular because window facing east. Can eat morning sun. D-1-9 popular due to feng shui 坐北向南.




Attached thumbnail(s)

I think the amount of students are grossly exaggerated. I would estimate Uniten to house about 8k students realistically, and IUKL about 2k students.

And the rental yield is not so fantastic also.

Looking at history, the worrying part to me is how long will it take to complete the project. Looking at Block A & B which was launched in 2007, it only handover in 2013. About 6 years to complete. Without DIBS, how many years can we bleed if the new blocks also take that long to finish? And it's currently asking from RM1.3k rental and currently subsale is asking for about RM365k. A big RM200k difference from the new block. Which puts the older block more attractive for lower entry point for investment.

Old block has multi-storey covered carpark, where as, the new block is all at the ground level, only some covered.

The pool seems to belong more to the block A & B. For the new block to go to the pool, one must walk across the open carpark about 50 meters to get there. Talking about dripping wet in slippers half naked walking in the sun for 50m to get to your lift after a swim. lol.

As for the De Centrum mall, I'm only worried it might turn out to be something like Nuxezui in Ara Damansara. Of course they would want u to think its gonna turn out like Sunway Giza. But realistically, I would think ppl would be more attracted to IOI City Mall. Hence, the Clio Residence there launching 3rd quarter this year might be more attractive in this aspect.

Just my opinion.

This post has been edited by Cantalope: May 25 2014, 11:12 PM

Vely gud and balanced opinion

You are right on the delay of block B. The buyers of block b got 10% discount from the developer if i am not mistaken. The developer Protasco is very new in property industry. This is one of the worrying part of buying this Phase 2 condo. Not sure how capable they are to develop this township.

But, speaking of the rental, i think the rental went up quite a bit to RM1900.

http://www.iproperty.com.my/property/searc...=&au=&sby=&ns=1

Just wonder how much difference of rental would it be comparing 4 rooms with 4 toilets(block D) and 3 rooms with 2 toilets (block A &B)?

6 years to complete ? What actually happened ?

Well the buyers may be bleeding servicing the loan interest, but they will also get compensation from the developer, isn't it ?

The key is whether the figures in iprop is dependable. Maybe it's just asking price and it never gets taken at that price !

http://www.propertyguru.com.my/property-li...or-rent-4962587

this is even more ridiculous. haha

yup.. dunno how will they take it.. rental game.. can it be like IMU? vista kommanwell?

de centrum have better location.. near by coming largest mall 1o1

This post has been edited by bearbearwong: May 27 2014, 12:14 AM

Hey guys, I am an agent for Unipark Condo Phase 2.

We are accepting booking now with RM5,000. The launch will take place sometime in mid June, and there will be a 10% rebate for 7 days.

Many of the units had already been taken by foreign investors as it is expected to do really well if you see the master plan.

If you wish to know more about this, please PM me or I can be reached at 0123226044!

Here are some brief details about the property, since some of you already shared above.:

Type 1 (Normal): 1,297sf - 4 bedrooms, 4 bathrooms. Comes with 4 airconds, 1 carpark.
From RM575,000

Type 2 (Duplex with dual keys): 2,594sf - 8 bedrooms, 8 bathrooms. Comes with 8 airconds, 2 carparks.
*13th floor onwards
From RM1,065,000

The developer is also the owner of Infrastructure University Kuala Lumpur (IUKL), which is located really close to the Phase 2 condo. The existing hostel for housing more than 1,000 IUKL students will soon be demolished, so you can expect that the rental demand will be going up.

Expected rental yield per room: RM600+

UNITEN is also just 1.5KM away, another good source for rental. De Centrum Shopping Mall will also be up by 2016.

If you guys don't know yet, this condo is just 5KM away from IOI City Mall (due to be completed this year) is the largest mall in Malaysia. Expect cinemas, 5-star hotels and offices to further bring up the value of the properties around this area. You can read more about IOI City Mall.

I am up for a yam cha session anytime if you would like to know more about this, and please be reminded, 10% rebate is limited to 7 days only. BOOK THIS CONDO ASAP! I can be reached via PM, or SMS/Whatsapp/Call 0123226044, John for more information.

Is the developer help investors rent out? Any plan of lobbying mrt2 line to this mall?

If I say yes the developer will help investors rent out it would be a lie, but that usually is not a problem, there will be many property negotiators assisting owners/investors to secure tenants anyway.

As for the MRT line, it is proposed, but again things can change eg: if government changes, if government suddenly change their minds etc, government delay it etc. But I am pretty sure the big players in this area will push for it.

Cheers

hey bro. how many units taken already?

Last update was there were only 100 units left of the 160. This is even before the launch. Launch happening in 2-3 weeks time.

how many of them are foreigner?

no official numbers, but I know foreign investors took at least 30 units. =)

If u were right about the rental,

Monthly rental = ~RM2400
Maintenance + sinking fund = ~RM300
S&P price = RM535k (10% discount)

Hence, ROI = [(2400-300)*12 / 535,000] * 100 = ~4.8% only
Cash flow = 2400 - 300 -2400 (installment) = -300 (negative cash flow)

Doesn't look good to me eh...

Good calculation, but the rental is based on the existing/current demand.

You're calculating a -RM300 cash flow based on the current rental and selling price of the pre-launch property.

There are a couple of interesting things that will be spiking up the price in the near future:

1. The opening of IOI City Mall this year (among the largest mall in Malaysia)
2. IUKL existing hostels that will be demolished
3. The increase of intake in both IUKL and UNITEN
4. The opening of De Centrum Mall right at the condo. 2016
5. MRT (many many years to come though, hehe)
6. Property appreciation: This will be completed in 3 years time

=)

This post has been edited by spcx: May 31 2014, 11:35 PM

1. The opening of IOI City Mall this year (among the largest mall in Malaysia) -> agree on increase of housing demand
2. IUKL existing hostels that will be demolished --> doesn't see much impact since they are taking up the whole block C to replace the hostels
3. The increase of intake in both IUKL and UNITEN --> God knows
4. The opening of De Centrum Mall right at the condo. 2016 --> agree but hopefully it won't become a dead-mall
5. MRT (many many years to come though, hehe) --> will only come in 2020 if approved
6. Property appreciation: This will be completed in 3 years time --> hopefully economy crisis won't hit malaysia. if really hits, sub-urban area will be the 1st in deepshit

If we compare with Phase 1 block a and b,

Current selling price: ~RM390k (1060sf)
Monthly installment: ~RM1600
Monthly rental: ~RM1900
Monthly maintenance: ~RM250

ROI = (1900-250)*12/ 390k = ~5%
Cash-flow = 1900-250-1600 = RM50

Also, the room of appreciation in term of value and rental would definitely be much better than Phase 2 considering all the boosters that you mentioned.

Isn't it better than phase 2?

Appreciate if you can enlighten me how to justify to buy phase 2 instead of phase 1 since I've already booked one unit

Rental return for older condo should be better than the new ones because of the selling price lower.

Did you have an estimate of the capital gain when VP ?

Any cross reference data from the phase 1 ?

Glad to know the hostels will be demolished. It is like waiting for cow come home.

Wondering why the price not picking fast for phase 1 if compare other university nearby project like kota damanaara. Sunway. Setapak. B j. Sg long. and serdang.?

First of all, the price after rebate for Phase 2 is RM517,500 for the 1,297sf unit with 4 bedrooms. S&P price will still be RM575k, this will help you save on your RPGT if you decide to sell.

It is NEW and you get to pick your choice unit.

Also you're saving an additional:

RM5,350 legal fees S&P
RM2,600 legal fees loan
Total: RM7,950
*Estimates

Like what puchongite said, older buildings will usually have a better rental yield than the new ones, but that doesn't mean the newer buildings will not do well. Based on the current demand, and assuming IUKL and UNITEN do get an increase of students, it will definitely not be a negative cash flow in 3 years time. And for all we know, we can only assume with some facts around and can never be certain about the future. It is more like whether you can afford to take the risk.

This post has been edited by spcx: Jun 1 2014, 04:16 PM

cant agree more

Any advice from other sifu?

shld b ard 5-7km

5.5KM. Cheers

Block D seem sold out if no loan reject unit. Block C will open soon with additional 10% increase.

Want to ask...block C selling at around rm650k. It is consider high for tis area? In future there will be more condos building up...will the over supply pull down the price?

very high

So its not worth buying?? Wats d average per sqft price at this area...?

591k is before the 5+5% discount? Can i ask...wat made u bought the unit? Cuz price doesnt look cheap 😅 pls advise....

I wish to kno 2

Phase 1 subsale is around 400k with smaller built up 1062sf, and currently rental is about 1600..Why not go for phase 1?

How true is this rental of 1600 ? Seem quite high. Better return than Bukit jalil.

You may refer to the iproperty website as below:
http://www.iproperty.com.my/propertylistin...ominium-forsale

Your reference is a unit for sale, not a unit for rent.

Anyway I take your word for it.

Seems very fews units are advertised for rent. Maybe that's the reason rental yield is relatively high with respect to property price.

Still...if purchase at 400k, 1.6k rental cant cover the installment. Just checked with a sa that old block only left 1 unit for sale.

Rental reach 1.8k for medium floor

http://www.iproperty.com.my/propertylistin...ominium-forrent

My 2 cents opinion:

1) Selling price and ROI
The rental expected from students in that area is not as high as advertised. A lot of the students there will not
pay such price. If they have to, they would rather live nearby elsewhere and buy a bike or car. Don't forget,
the students know the areas there better any others.

Also, most of the students here who are from the rich region are not as rich as being portrayed.

I see a number of you have done beautiful ROIs which is similar to the love story I heard from the agents but
am still not buying it.

FYI, a few of us are current owners of existing blocks and were thinking of adding to our portfolio. We decided
against it in the end as it is better to invest elsewhere. If fact, getting out is in our mind now.

At their current selling price, we would rather invest somewhere else, say around PJ...see the picture now?

2) Developer
They developer is also linked to the owners (same) of the University. Rather than concentrating on expanding
their University, they became greedy and jumped on the property band wagon. They are keen to make $$
from buyers only.

3) Discounts
I am sure all of you are smart by now with all the marketing gimmicks. One can always sell at a huge discount
to attract buyers but one can also sell at a high before discount price, right? What is important? Net price,
right?

4) Competition with Existing Owners and other places nearby
At the current price, you will be holding the end of the stick.

5) Current Economic Environment, especially in Malaysia
Do you see our economy moving forward?
The biggest concern in everyone's mind now is the cost of living. It can only get worse. RM has been dropping
like crazy and it's moving on the downward mode.

With price of oil, and currency going down, we have the perfect formula for inflation. No?
If not, do a simple calculation for a family of 4 - 2 adults, 2 school-going children.

Makan 3 simple meals a day - maybe mixture of home and outside (as in kopitiam or road side stalls).

With our 'excellent' transportation and security system, do you need a car? Even an old junk would help, right?

Car Monthly repayment - berapa?

Repair - junks need repairs, right? Even if 3 year old cars, still ada repair and maintenance kan?

Makan (with or without minum).....?? see how the people suffer now? Gotta go down to this level.

Power bill? Dare not use air-con when weather is hot for more than 50% of days in a year....
The current hot temperature is way higher than it was 30-40 years ago. Ask your parents, grandparents if
you don't know.

Phone bill?

Bus sekolah? Uniform? Shoes? School and other books?

Education sudah habis....all go tuition...free ah??

No need to cater to rainy days?

My friends, the above are just simple basic living with no indulgence AT ALL.

Imagine this is the live of a number of average and below average Malaysians now. The above average are
now considered average. The rich will always be richer. Let's not talk about them.

For the average, you would probably be getting some imported food at times but the price paid would be way
higher than what you would normally pay elsewhere e.g. Singapore even after conversion.
I did comparisons on a number of items such as canned tomato paste, pineapples, Japanese soya sauce etc.

The question is not whether properties will be stagnant, go South or North.

'The Great' up there is a very fair. Looking at historical patterns, anything that goes up, there will be a down
as well to balance it up. No?

The key question is what are the chances of them being stagnant, go South or North?


That's all I can think of in my lack of sleep mode. All the best to you in whatever decisions you take.

I am renting Block B right now and all I can say is that, the facilities and the management suck. If it's not because of the contract, I would have moved out by now. If you're buying the unit for yourself to stay, I guess it's up to you. But if you're planning to rent it to students, then you'll hear a lot of complaints from them. I would have reported a lot of things about the management but I just don't know how and where.