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Investment SKY SUITES @ KLCC [OWNERS' THREAD], "Massive" KLCC project on the cards

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emyght2016
post Sep 2 2016, 04:48 PM

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QUOTE(BEANCOUNTER @ Sep 2 2016, 02:53 PM)
not actually....

compared with normal new condo of say 10.6' over 8.6'...every floor you save 2', meaning every 5 floors you 'gain' one floor. Cost wise, everything else equal, you got to sell one floor extra for every 5 floors you built.
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no. of units are pre-determined when the km is submitted, and approved by the applied plot ratio.. the savings on cost does not increase the capacity to build an extra floor, hence not about having to sell extra floor..

imho, the lower constructions cost from the inferior specs is likely to be translated into competitive pricing while protecting (or in some cases, increasing the margin)..

just the reduction in sizes to make it more affordable in terms of absolute price, popularized by bkp in the mk series, all sorts of strategies are deployed nowadays, lowering ceiling, optional carparks, developer retaining ownership of the clubhouse and certain facilities, etc.

juz m2c..
emyght2016
post Sep 2 2016, 04:51 PM

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QUOTE(gks @ Sep 2 2016, 03:22 PM)
What is your understanding of tenant market demand in KLCC then? And expected rental they willing to pay?
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boss, m-city attracting quite a few city expats afaik.. price range below 3k is well absorbed for f/f 2-bedder..
emyght2016
post Sep 15 2016, 11:00 AM

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for those whom are into hedging strategy, there are some 3-bedders units @ 1.2k sqf can close at 850k, circa 710/sqf.. these are not subsale, it's completed 1st hand developers' holding units and quite matured, with almost fully furnished, standard carpark & > 10ft ceiling height.. tongue.gif

i mean, i don't follow klcc much nowadays, in fact, never been vested... but random dogging still reveals that there are worthy buys around klcc.. discount the 4-5 years construction interest costs, well below 700/sqf with immediate PRC company taking up the tenancy..

nvt, being a typical monoland a.k.a. gca product and no-frills pricing with almost zero marketing cost, no carparks.. congrats for those who managed to get a unit but as in most investments, know your gameplan..
emyght2016
post Sep 16 2016, 01:54 AM

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QUOTE(gks @ Sep 15 2016, 11:53 PM)
R u refer to regalia? I believe the leftovers are 2 bedrooms configuration.
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to me, regalia not considered klcc..

subject is along the stretch of jalan ampang around 1.5x, maybe 2x the distance from skysuites to ptt but still very walkable, certainly not regalia..
emyght2016
post Sep 16 2016, 02:15 AM

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QUOTE(keneeth111 @ Sep 15 2016, 11:50 PM)
He did not mention its a klcc property.

Even if its a klcc property, i doubt its under tier 1/2 location of KLCC........

whistling.gif  whistling.gif
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by my own definition, it is tier 1 klcc property.. anw, this is a time-bound offer, peeps will know that i will share if i can..

the point of discussion is, arbitrage play.. these are not coming into the market en mass like skysuites, but oth, offers like this is not limited to just 1 miserable unit, there are few to go around to lend credibility to such claims..

and it is not only heavily discounted vs new 'below-market" projects, in the price itself, it also have generous buffer against existing units within the same development.. it also provides immediate income-generation capability to cushion the funding cost.. simply put, it is cheaper than 1st buyers.. just take it as he says, she says, with a big pinch of salt coz u will also not find any trail of evidence in the SPA proper..

actually i didn't realise this was such a great deal till i stumbled upon gks boss' comment abt 3-rooms for below 1mil in klcc..
emyght2016
post Sep 16 2016, 11:12 PM

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oops, sorry ah bosses sekalian.. i forgot tim to speak piger's lingo, lost touch a bit, not write like prop review hor.. hehe

but hor, those whom pm me memang lagi chim, asking whether this is a GRQ scheme..? i think so lah, if u can flip american-burger for a day to earn 200k profit..

anw, from the last few posts and the pm's itself, i am guessing lah..

1. many pigers here still got moolah to whack, mortgage aside..
2. serial investors are still digging below market props in klcc, got research project summore..
3. smallest is not always better, price-point is less sensitive now..

trying to stick close to the skysuites topic.. oops.gif
emyght2016
post Sep 16 2016, 11:16 PM

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QUOTE(ManutdGiggs @ Sep 16 2016, 01:31 PM)
Boss afaik emy boss can recommend a prop within klcc area. If u ask me i dun und 100% but knowing emy for long more or less i try my best to guess a bit. laugh.gif
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gigss boss a.k.a. janitor king, no offense to the rest, but i honestly think that u can sniff out and get to this prop the fastest with your balak cable and water-pipe coz the "special-term" will hand u the advantage..

as to whether this is a good buy, i think gks boss' statement carries a lot of weight coz of his knowledge.. latest i probed is can get 2 carparks wor, but didn't ask whether side-by-side, shud be lah in klcc props.. i think the seasoned taikos already know by now, pls dun shoot siudai for b/s in this in skysuites thread ok and as a forumer said it, potong stim..
emyght2016
post Sep 16 2016, 11:21 PM

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QUOTE(keneeth111 @ Sep 16 2016, 10:26 PM)
Even there are some 3-bedders units @ 1.2k sqf can close at 850k, circa 710/sqf, tier 1 KLCC property with almost fully furnished, standard carpark & > 10ft ceiling height, margin of safety, immediate income generation capability..

What more important now is how much rental can they command?! especially in today's slowdown economy and serious oversupply of large units at KLCC.

i doubt the rental yield would be decent..........unless they're dual keys units like Sky Suites...........

rclxs0.gif
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boss, not only yield but also hv to study the liquidity for such mid-size, this is not large size..

i may be wrong, but the interpretation of liquidity is weighing less on price-point alone now, as compared to before..

at least it looks more balanced now with due consideration on the overall value factor, room type/configuration etc. and of course always the supply volume..

u are right thou, coz i am not that familiar with klcc props, but hor, as to yield, my partner's, fren's, ex-staff's is renting f/f 2-bedder klcc for 4k.. so perhaps 6%, if really can get tenant lah.. any indication of the market..?


 

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