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

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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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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
AskarPerang
post Jan 28 2019, 03:00 PM

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Now today total got 6 units in the lelong market: https://www.lelongtips.com.my/search/arte%20s
Expecting more to come this year.
alesi616
post Jan 28 2019, 04:30 PM

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Nice looking design but unfortunately not at a good location. If it is located in Georgetown / Gurney / Tg Tokong / Tg Bungah / P.Tikus (those 'atas' locations) then it will sold out like no body's business, because people will view it as a 'trophy collection'.

But at Bkt Gambier address, no, just a NO NO.
torkl
post Jan 28 2019, 06:55 PM

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QUOTE(alesi616 @ Jan 28 2019, 04:30 PM)
Nice looking design but unfortunately not at a good location. If it is located in Georgetown / Gurney / Tg Tokong / Tg Bungah / P.Tikus (those 'atas' locations) then it will sold out like no body's business, because people will view it as a 'trophy collection'.

But at Bkt Gambier address, no, just a NO NO.
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What is a fair price here? 500psf or lower?
alesi616
post Jan 29 2019, 11:00 AM

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QUOTE(torkl @ Jan 28 2019, 06:55 PM)
What is a fair price here? 500psf or lower?
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yes, about there. 450-500psf
KimiLau
post Jan 29 2019, 12:58 PM

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QUOTE(alesi616 @ Jan 28 2019, 04:30 PM)
Nice looking design but unfortunately not at a good location. If it is located in Georgetown / Gurney / Tg Tokong / Tg Bungah / P.Tikus (those 'atas' locations) then it will sold out like no body's business, because people will view it as a 'trophy collection'.

But at Bkt Gambier address, no, just a NO NO.
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I don't think so....Most local penang lang prefer this area as it is in the middle of bayan lepas and georgetown...especially for those who works in those MNC in bayan baru/bayan lepas
not mentioning it is opposite of USM

Location is very good but wrong product imo

THose atas location you mentioned is for those super rich or meant for vacation homes rclxms.gif
alesi616
post Jan 29 2019, 02:31 PM

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QUOTE(KimiLau @ Jan 29 2019, 12:58 PM)
I don't think so....Most local penang lang prefer this area as it is in the middle of bayan lepas and georgetown...especially for those who works in those MNC in bayan baru/bayan lepas
not mentioning it is opposite of USM

Location is very good but wrong product imo

THose atas location you mentioned is for those super rich or meant for vacation homes  rclxms.gif
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Actually both our opinions pointing to the same problem.

Your view is 'location good but wrong product', my view is 'good product (i mean the outlook design) but in a wrong location'.
It is a mismatch of a product and location.

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