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Investment LAVILE KUALA LUMPUR, The changing landscape of Maluri

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Cavatzu
post Sep 13 2022, 07:54 AM

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QUOTE(butthead76 @ Sep 13 2022, 07:31 AM)
coming soon, they miss Aug VP, likely missing Sept VP. Think maybe VP is early Oct. Then auction starts likely in Nov or Dec. Next year recession, so you will see easily 40% off market or 10% below developer.  sweat.gif
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Does it ever make sense to hold on to a property like this where an external factor has devalued your property substantially?

Would you try to sell subsale on VP and cut loss immediately at 20% or more discounted price or slowly wait till the lelong vultures come?

Knowing human emotions, most would be praying and hoping for a miracle out of this predicament. Hence, most don’t think of an exit strategy until too late.

This post has been edited by Cavatzu: Sep 13 2022, 08:02 AM
Cavatzu
post Sep 13 2022, 09:02 AM

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QUOTE(butthead76 @ Sep 13 2022, 08:50 AM)
Well property not going to improve at least 3 yrs min. So holding power is crucial. Either cut your looses then recover as much or breakeven (considered lucky) then try again 3yrs later.

If hold on, then you may need to consider your sustainability for at least 3 yrs. Worst case empty unit to minimal monthly top up. Case to case depending on area. For lavile will be huge competition as nearby plenty similar range. What I heard velocity, mthly top up minimum rm1k, lease around rm2300 only. So don't put hopes too high on rental hitting fantasy numbers like rm2800, rm3000...hahahah

Go do your homework. Don't take word for word. icon_rolleyes.gif
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It’s already competitive being a regular unit. When you have a glaring weakness and paid quite a high psf for it, I wonder how would one come back from this as you’d need to discount from regular market rates.

Maybe I’m being particular and there are tenants who won’t mind this type of view.

Cavatzu
post Sep 13 2022, 11:11 AM

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QUOTE(Najibaik @ Sep 13 2022, 10:47 AM)
lavile actualy no problem on renting, but of course need to top up a bit, just like UNA, problem is the units facing mira construction like less than 10m distance, i dun think tenant would want to stay there
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Correct me if I’m wrong here. In a given area where there’s a lot of supply and fairly similar units and connectivity, rents would generally be at 80% of a mortgage breakeven (90%, 35 yr). Of course there may be outliers if you bought it cheap but I’m applying this to new builds. Then you add this big weakness of a claustrophobic blocked view which might mean a further 20% discount.

Is a 40% top up sustainable? I suppose doing things like co living will help.
Cavatzu
post Sep 13 2022, 01:10 PM

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QUOTE(Najibaik @ Sep 13 2022, 11:54 AM)
place like maluri will never short of tenant
especially Una, lavile and mira which just beside mrt velocity aeon
price is the factor, not supply demand
UNA Lavile Mira M Vertica Parc3 all price different range
but master room rental generally at 1k-1.3k

given same rental rate but installment different hence the gap of mortgage

just lavile buyer bad luck, can't imagine which tenant willing to stay at the facing of construction, would be unbearable
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It seems that the going rent in the area will cover 700 psf priced properties. Those touching 1k psf will surely be in the red no matter how atas you are. This figure goes down as interest rates go up.

Yea the approval process is bonkers to allow a 10m distance between 2 buildings.

This post has been edited by Cavatzu: Sep 13 2022, 01:14 PM
Cavatzu
post Sep 13 2022, 03:25 PM

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QUOTE(tgeoklin @ Sep 13 2022, 02:38 PM)
This could be an issue with Mira itself as they can be held liable for such pollution instead, thus further delaying their construction and increasing cost as well 🤔
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They are so close and the plot so narrow that with all the machinery etc for sure it’s gonna really disrupt the Lavile side facing them.
Cavatzu
post Sep 14 2022, 08:59 AM

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QUOTE(Najibaik @ Sep 13 2022, 03:57 PM)
dun mention mont kiara those area, maluri is having the highest rental in cheras
anywhere in kl master room also around 1k, but area with lrt mrt tends to get higher rental return

fyi u can just google seri puteri condo beside lrt cheras, master room can go up to 1k for a 300k old condo
look at millerz 800-900psf condo, master room also 1k nia
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Well the ceiling price has been established. Because at 1500 pm you can get a studio in an ok area. So the only way for landlords to operate is create partition in living room. And this market is so temporary being new graduates or low skill foreign workers.

I don’t see ppl buying 8 Conlay to do partition although admittedly more of the upper middle developments are headed this way.
Cavatzu
post Sep 14 2022, 11:52 AM

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QUOTE(Najibaik @ Sep 14 2022, 09:45 AM)
sublet & partition is different thing
i rent out my property by room but doesn't need partition at living hall yet can have positive return after deduct everything

all dual key concept is basically sublet

if u survey you can easily know market demand for room is way much higher than whole unit
only will become higher and higher cuz less young working adult / fresh graduate from other state come work in kl can afford renting a studio or whole unit
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True. Regardless there’s so much choice that for the same 1k for a room, you can take your pick from PJ all the way to Cheras and everywhere in between to cater to your preference. That’s the ceiling with a bit of mark up for something nicer. The living room partition is needed if you’re greedy or you overpaid.

QUOTE(Onetwothreeeee @ Sep 14 2022, 11:36 AM)
This area no rich China people population? Those that would rent whole unit. I thought sunway velocity is now like China Town
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I think not many of them are here nowadays as borders aren’t that open for them yet. Yea Velocity is definitely pitched at them which inflated the prices for so long and has carried on to the many Maluri projects of today. Inflating the price for niche groups has its drawbacks and reckoning as we’ve seen in the recent past.

Cavatzu
post Sep 15 2022, 10:32 AM

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QUOTE(Najibaik @ Sep 15 2022, 10:17 AM)
dual key is disaster actually

Many dual key layout seperate master room with living hall
Thus can rent out as a master room & a studio

But in normal sublet, master room can rent 1k and tenant got to use kitchen and yard/washing machine area as well as public area
But in dual key, their place is only master room which can't access to kitchen or washing machine yet wanna charge full master room rental price

Anyhow those property with easy access to MRT/LRT would have stable supply of tenant and easy get replacement
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I suppose dual key works if everything else is partitioned kow kow. Otherwise as you say, they lose access to the common area which is quite inconvenient.

Developers should just build dormitories as investment units with communal kitchen, laundry and toilets rather than keep up the farce of what’s going on now. Better a well planned purpose built jail than the fire hazards that exist now.

Cavatzu
post Sep 15 2022, 10:57 AM

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QUOTE(LoTek @ Sep 15 2022, 10:36 AM)
Or just give us empty shells to do with as we see fit. I also hate the way generic tiles and finishes and foisted on us here, investment units look universally alike even in different projects and many ownstayers have to spend extra to demolish/remove/replace.
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For all the ESG and sustainability talk, there’s a lot of white 2x2 tiles dumped into tips. The pressure to stand out from the competition will only get worse as we gut units back to the studs for some differentiation.
Cavatzu
post Sep 17 2022, 11:43 AM

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QUOTE(Najibaik @ Sep 17 2022, 11:00 AM)
1) rent to chinese only
2) look at their face, rent to those with nerd face / students
3) don't rent to those pretty/handsome - they think they look good and atas thus think they deserve everything
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Lol first time I heard of discriminating good looking people. I suppose they will be more assertive and confident in their dealings with the landlord. When really you want yes men as tenants.

This post has been edited by Cavatzu: Sep 17 2022, 01:25 PM
Cavatzu
post Sep 18 2022, 09:14 AM

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QUOTE(Najibaik @ Sep 17 2022, 04:42 PM)
ya room renting
-good looking guy at master room
-fat nerd guy with another guy at middle room
-young girl at small room

all study college

in the end
-good looking guy got kicked
-young girl wanna take over master room at first but in the end also paiseh then leave
-fat nerd guy with his classmate remain

then got another normal looking nerd girl at master room
another nerd looking young working male adult at single room

happily ever after

ps* normal looking tenant be it guy or girl really nice behavior and attitude

There were once a good looking couple to rent my room which vacant after the incident
The good looking guy wanna be hero infront of his girlfren and demand living area & his room to be cleaned before he move in cuz he said he wanna focus on his exam.
I straight reject and 1 week later he begging for the room, then you know you successfully dodge a potential troublesome tenant
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Ahaha you won’t rent to me then. Looks aside, I’m terribly demanding and bargain for everything.

Cavatzu
post Sep 22 2022, 07:08 AM

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QUOTE(butthead76 @ Sep 22 2022, 06:10 AM)
user posted image

Will loose all privacy.
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Ok la it’s only really 4 units per floor affected. But it’s gone from unblocked premium view to being able to smell your neighbours. I wonder if they were compensated in any way.

This post has been edited by Cavatzu: Sep 22 2022, 07:09 AM
Cavatzu
post Sep 23 2022, 08:25 AM

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QUOTE(butthead76 @ Sep 23 2022, 07:20 AM)
That 4 units is the closest, only 3 units on right side unit from Block C got unblock view. Others all facing Mira blocked.
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It’s generally ok if you’re at least set back a bit from an adjacent block. But yea block A1 might as well have been deleted from the development if they had known this would happen. Are they going to plant some big trees at the perimeter to cover a bit at least?
Cavatzu
post Sep 29 2022, 08:24 PM

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QUOTE(cindylim123 @ Sep 29 2022, 08:05 PM)
Lavile klcc view
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What a big pink batang!
Cavatzu
post Oct 4 2022, 03:59 AM

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What’s interesting is ordering DBKL to buy back the land. What if they start to play up then is a lawsuit with DBKL now in the works.


Cavatzu
post Oct 4 2022, 08:16 AM

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QUOTE(indramerlin @ Oct 4 2022, 07:25 AM)
Don't sue here sue there la.. tokok can aaa.. you are developer, still more land in KL. Wanna sue DBKL for what? They are the one giving your license, KM, permit what so ever. Don't tokok.
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You never know man. It’s roti canai politics and this is how big corporates operate. I was just conjecturing.
Cavatzu
post Oct 4 2022, 08:57 AM

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Is it bad of me to want to see a bit more wayang?

I hope someone does an American Horror Story series with Malaysian property market.
Cavatzu
post Oct 5 2022, 06:34 AM

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QUOTE(Najibaik @ Oct 4 2022, 11:32 AM)
if it is federal court decision then no more wayang already
Ppl like to see wayang, it is normal

ps I also like to see
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Well the devil is in the detail as well. Would like to see the court ruling. Is it PV’s fault or is it DBKL’s? Are there further implications where phantom developments crop up in areas gazetted for a purpose other than residential. This has implications on the future supply of developments and what developers can or can’t get away with. I suspect the environment is simply not profitable at the moment to go through with some of these projects.


Cavatzu
post Oct 7 2022, 04:41 PM

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Interesting. DBKL was chastised. Lol.
Cavatzu
post Oct 14 2022, 07:40 AM

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Lai la. When is the first lelong? Taking bets.

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