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> ARTE-S,PENANG, NEW LAUNCH CONDO,SHL I JOIN GROUP BUY?

Fortezan
post Jan 14 2019, 03:08 PM

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QUOTE(AskarPerang @ Jan 12 2019, 05:41 PM)
Launched at 700 per sqft back in 2014.
Today lelong unit you can get at 35% off below launching price = less than 450 psf.

3B-33A-03, 33Ath Floor, Block 3B, Arte S
Reserve price 🔥🔥RM546,750🔥🔥
1262 sqft (duplex), 2 car park slot
Freehold
Auction: 20-Feb-2019 (Wed)
*Vacant unit
*Non bumi lot

» Click to show Spoiler - click again to hide... «

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I think I came across an ad for this auction at RM607K just a few days ago, which I believe is the same unit. Guess there was no takers. If I'm not mistaken, this unit above 30 floor sells for > 800 psf as it comes with higher spec. With this kind of reserve price, I wonder how the bank can ever recoup their cost
Fortezan
post Jan 14 2019, 03:16 PM

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QUOTE(Tan&tan @ Jan 13 2019, 03:10 AM)
Your brain masuk water ? Hahaha . How’s it performing today bro
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That post was way back in 2014, hope the fella is still surviving. Many investor who bought this did not expect T-Hotel to come in and sapu a large chunk of the units, which probably kill off their AirBnB plans
AskarPerang
post Jan 14 2019, 03:22 PM

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QUOTE(Fortezan @ Jan 14 2019, 03:08 PM)
I think I came across an ad for this auction at RM607K just a few days ago, which I believe is the same unit. Guess there was no takers. If I'm not mistaken, this unit above 30 floor sells for > 800 psf as it comes with higher spec. With this kind of reserve price, I wonder how the bank can ever recoup their cost
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Yes no bidder few days ago and bank will reauction at the price I posted next month in Feb.

Anyway, that unit is not the only lelong unit actually.
Got another 3 more in the market from Arte S: https://www.lelongtips.com.my/search/Arte%20S
Fortezan
post Jan 14 2019, 03:34 PM

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Group: Junior Member
Posts: 323

Joined: Oct 2011
QUOTE(AskarPerang @ Jan 14 2019, 03:22 PM)
Yes no bidder few days ago and bank will reauction at the price I posted next month in Feb.

Anyway, that unit is not the only lelong unit actually.
Got another 3 more in the market from Arte S: https://www.lelongtips.com.my/search/Arte%20S
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Can't say I'm too surprised, this condo has been a bad investment choice right from the start, weird layout, commercial title, sky high launching price...etc
KimiLau
post Jan 14 2019, 03:57 PM

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QUOTE(Fortezan @ Jan 14 2019, 03:34 PM)
Can't say I'm too surprised, this condo has been a bad investment choice right from the start, weird layout, commercial title, sky high launching price...etc
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Agree, location is pretty good but cant they build a proper condo with more practical layout like Raffel Tower rclxms.gif

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