AVARA SEPUTEH @ Old Klang Road

Developer : Ba Sheng
Expected date of completion : 2021
Land size : 1.39acre
Freehold (Commercial under HDA)
Total units : 366 units (2 blocks)
Build up : 667sf - 1216sf
Maintenance fee : Super expensive $0.50/psf
Selling price : $900-1000psf

Selling points
Walking distance to KTM Midvalley
Walking distance to Midvalley

Competitors
North Point Residence
1300sf - RM1.2-1.3mil (rental RM4000)
Menara Seputeh
1000sf - RM600-650k (rental RM1500-1800)
Abdullah Hukum Apartment
750sf - RM350k (rental RM1800)
Seputeh Permai
1300sf - RM660-680k (rental RM2500)
Bukit Robson
1000sf - RM700k (rental RM2000-2500)

CONCLUSION
Avara Seputeh is putting itself in similar levels to Northpoint and Gardens Residence at RM1000psf, which both are in Mid Valley City itself.
For such a premium price point, I expect the ones who can pay RM4000/month in rental to want the absolute convenience to really walk casually to Mid Valley. Thus, the notion of Avara providing bus to Mid Valley? 🙄
If I can afford the luxury of RM4000/month, I don’t think I will take bus. Just my personal opinion.
Most studios in areas like Bangsar South, KLCC or even Mont Kiara generally at present do not cross $2500/month rental (invisible ceiling cap price).
Thus I don’t think even buying the studio in Avara (with the most optimistic calculation) you’ll be able to breakeven considering the cheapest unit is RM560k (which translate to monthly loan of RM2400, with the expensive maintenance fee (RM300/month), you’re looking at RM2700/month to breakeven.
Looking at the rentals of 3 bedroom going for RM4000 in Mid Valley City itself, do you think people will pay RM2500 for a studio outside Mid Valley City?
I don’t think you’ll have difficulty exiting this project as this is prime area.
But the fact that it does not have adequate boosters (just that measly KTM which frankly I hate to use), makes buying a property at RM1000psf less attractive to me as an investor.
The only selling point is it’s proximity to Mid Valley. That’s all.
Do note that Eupe’s Vivus I heard is going to be $1200-1300psf.
Insane.


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