Wrong, I'm not comparing any condos. The question was what was a better condo to invest in compared to Fennels and I named 1. There are 1000s and the guy wanted ONE name and instead of wasting time giving him a shopping list I gave him a name he's familiar with.

I kept repeating if people bought this condo for own stay, it is no longer an investment. I don't buy condos to stay in, I invest in them. I rather stay in landed property or rent out high rise.

Sorry you and I are talking different languages. If you are not looking at ROI as a measure, then nothing more to discuss. I invest in property and stock market, and my target is very simple - to achieve double of the actual inflation level in the country, which I work out to be about 6-7%. Not reported (Bullshit) number, my own number.

If property can't even scratch 6% per year why bother investing? Dump it in american/european market stocks which give you more! You can profit from the currency exchange as well through dividends and when cashing out! Why go through the hassle of property, tenants, waiting and hoping for appreciation?

Sometimes I find people here talking about property like it is the 1 and only investment out there and no matter what, owning more properties = success. Despite lifestyle being like crap or having no liquidity or having no money to spare after paying for all the installments. Give me a break. There's a time to buy and there's a time to wait. Just because developers are peddling overpriced property under a big SALE banner doesn't make it a good investment.

Now you're talking about landed property..... for landed, yes it makes sense for heavy renovation since you are basically building space in the sky.

With a condo, if someone buys a 500K unit and spends 250K for renovation, they are morons. The end.

Like I said earlier...you're a bit thick. What is your definition of "ownstay" apartment? So you're saying Titiwangsa Sentral isn't good enough for you to stay in?

I don't even know why we're continuing to argue about this, I have maintained if you bought the Fennel for own stay then it's not an investment property. And if it is, it is a crap time to go in because you have to wait 10 years for decent appreciation, since price will definitely drop first and then take time to get back up. This is already a clear hint with developers hawking their last units for 'cheap' prices - because they are fully aware its only going to get cheaper down the road.

I can name many investment properties at the top of my head which is better than Fennel but you would just say "not good enough for me to stay in", so why should I bother? You can stay in your white elephant, but the moment you try and rent out or have to move out - you can start sweating because you'll find it's a pain in the ass when it comes to giving you good cashflow. Since you're happy with the liability you have (own stay), well then good for you.

As for your last paragraph.....who says I intend to buy new developments/new launches? Hell no, I only deal with owner of subsale or I stay out. Developers are out for your cash and their No.1 mandate is to transfer all the risk and costs over to the new owner to ensure profitability from their efforts in going through all the red tape and getting the building constructed. Owners are only looking for 'profit' or maybe even just breakeven if they're in a tough situation.

Many owners have bought properties they can't afford in the past year, and we'll start seeing the reality this year and next. Let's see where Fennels price is end of this year (bank interest rate is also dropping). If you spot any auction boards at your floor drop me a PM.

This article made my day. Old but aged well....



First two blocks of YTL’s Fennel in Sentul East sell out within two days
Posted on July 22, 2013 | 15366 views | Topic : Featured, Property News.

Punters booked places in queue from night before with shoes and pieces of paper; at sales board, they were given exactly one minute on a timer to decide which unit to purchase.


Buyers queued from 6:30am to get the first pick of The Fennel units.

The first two blocks of YTL Land & Development Bhd’s The Fennel condominium tower units were sold out on day-two of its preview, announced the developer, after its preview last weekend.

Friday’s preview which promised a “first release” was open to VIPs and staff while the following days were open to previous buyers and registrants, which numbered 5,000.

The Fennel consists of four blocks of 38-storey condos situated at Sentul East with a total of 916 units ranging from 1,000 sq ft to 1,500 sq ft. Early indications of pricing were quoted at minimum RM650 per sq ft while YTL’s report said that the units were priced at RM700 per sq ft. The booking fee was RM30,000, which is refunded (minus 10% administrative charges) if the loan is not approved.

Project manager Y. T. Chee, who took one day of leave from work to accompany his friend to Friday’s preview, describes a hectic atmosphere.

“People queued up from 7am and each person was given one sheet of paper to buy one property, and to bring one guest with them,” he said. “The doors opened at 10.30am, and two lines were formed: one for staff, and one for VIPs.”

​
Some punters had begun staking out their places from the night before.

“Both lines were allowed to go in in groups of five, at which buyers were given briefings. At the sales board, each buyer was given exactly one minute to decide which unit they wanted to purchase,” said Chee, adding that buyers were even timed with a timer!

“‘Time starts now,’ they said. If you didn’t decide within one minute, you were asked to give way to the next person in the queue,” he says.

Speaking of the public preview which started from last Saturday, YTL Land & Development Berhad executive director Dato’ Yeoh Seok Kian said: “People were queuing from 6.30am at the YTL Land’s sales office in Starhill Gallery. We expected a huge turnout based on how fast The Capers was snapped up at its launch, but the response for The Fennel is even greater!”

The queue which started from the entrance of YTL Land’s Sales office snaked round the entire Relish floor at Starhill Gallery.

In fact, some punters had begun staking out their places from the night before on plastic stools that had been set up for the preview, according to Mr Y of PropertyWTF.com.my, who attended Friday’s preview. “Many of them had to be shooed off and they left shoes and A4 papers to mark their territory!”

Chee, who had attended Friday’s preview, also returned on early Saturday morning at about 2.30am to buy another unit for his friend who lives overseas. “I saw people with sleeping bags and pillows there. They had devised their own system, where they put up number on sheets of paper to put on the stools,” he said.

Chee was rewarded for his diligence by getting a three-room 1,186 sq ft apartment within the first block for about RM820,000. A similar unit would have cost about RM50,000 more in the second block, he says.

"rewarded for his diligence" lol the same type of unit is now going for about 700K on mudah/iproperty.

Next year probably 600K.

Most people refuse to acknowledge the facts. Just because we had a massive bull run between 2009 and 2012 does not mean every year was going to be the same. 2013/2014 was the worst time to buy property since a big correction was due.

I stayed away from buying property after 2012, since rental was already decreasing even though property value continued shooting up. Not to mention condos mushrooming out like nobodies business.

But this year onward is a good time to look again since many subsale owners will start regretting their purchases.

Lol you're dreaming. Unless 2008 happens in Malaysia. I think price can come down to low 600Ks, MAYBE high 500Ks.... that is already a good time to snap up. Trust me, many owners will already start getting desperate end of this year....especially the unfortunate ones who bought during launch.

Think logically....anyone who bought for own stay are gonna stay in one place for 30 years? Can you guarantee it? No.

Maybe for the next few years you will stay, but if you have to relocate? Move out due to family/job/kids/etc? Die. Rental rate is rubbish compared to purchase rate (no way to cover installment) since as an investment, it is way too overpriced.

Already can see many threads on people moving out due to unplanned scenarios and wanting to dispose of new properties at lower price because cannot handle monthly installment. Buyers in 2014/2015/2016/2017 can relate to what I'm saying (but won't admit it).

This post has been edited by BeastB: Apr 15 2019, 11:52 AM

Auction already started in Fennel....lol

No, still damn pricey. PM me for units in 650- 680k range, serious buyer here. I'm sure you'll find this range of units towards end of the year.

This post has been edited by BeastB: Apr 18 2019, 08:34 AM

Many potential buyers are still riding the hype, even auction units can go for mid 600s now. Which is why we need to give everyone time to wise up, once they see the price dropping steadily they will realize the launch price was a complete scam. Then they will want to let go units in the 600s, good time to buy then.

That's my point, we are going to see many distressed owners the next 2-3 years. Thanks to so many over-inflated developments just completed last year and 2017, many owners will realize the rentals they were hoping for is no longer reality.

We had a massive bull run between 2009 and 2013....and the developers rode on that hype and scammed a whole lot of people the past 3 years with crazy prices and profited. Now the owners will find they're holding assets worth much below selling price.

Where did you hear this? I don't think it's an option, developer would have been forced to do this since their initial buyers at launch bought for higher than 770K. So it's a cheap way to skirt around that issue.

But any buyers can confirm?

This is quite ridiculous from the developer...these are family units, unnecessary extra cost for the owners. This style of bathrooms is acceptable for studios or 1 bedroom units where couples or singles will appreciate it.

Yeah, if families in Malaysia walk around the house naked.

Saw some units before here, all bathrooms are free show.

And don't get me started with the kitchen space. Even for the larger units. Ridiculous.

Have you looked into YTL?

This is the summary on their wiki page:

YTL Corporation Berhad is a Malaysian infrastructure conglomerate, founded in 1955 by Yeoh Tiong Lay, after whom the group is named. The company has grown from a small construction firm into an international utilities company which derives over 70 percent of its revenue from outside its home country.

Think a company like this is going to sweat about some defects in some new building they constructed?

Latest news on the Star:

KUALA LUMPUR: YTL Corp Bhd said its cement manufacturing arm, YTL Cement Bhd, has agreed to acquire LafargeHolcim's entire 51% stake in Lafarge Malaysia Bhd
for US$396mil.

The purchase price valued Lafarge Malaysia at RM3.75 a share.

"With the divestment, LafargeHolcim will fully exit the Malaysian market," the Switzerland-based company said in a statement posted on its website today.

The price valued Lafarge Malaysia at a 43% premium compared to the last 90 days trading period. The stock was last traded at RM3.25 at the midday break on Thursday.

LafargeHolcim expects to complete the disposals within the second quarter of this year.




This post has been edited by BeastB: May 2 2019, 03:23 PM

The Fennel project was a very smart last 'hoorah' by the developer, sold vastly overpriced development with this distinctive design and got their money. They knew property market is done for the next 5-8 years at least, dropped prices and sold out as many units as they could. Very smart developer I must say, their marketing and strategy team deserve a big applause. In terms of actual market value for location and build quality, no way this place is worth more than 600 - 650K.

Because try selling a unit in a development with 1000 units. Your competition is massive, and on top of that the location is a long long way from being developed. YTL has a lot of land to build on yes but how fast are they going to execute during an economic slowdown?

If I were the developer I will just focus on buying up more land for cheap instead of developing structures which I'm going to struggle to sell/rent in the next 5 years.

No bidder for unit below launch price..... good leading indicator for what's coming in this area.

How long is "own stay"? You going to stay here for 30 years? Especially in today's global economy?

At some point you have to move out, and this "own stay" condo converts into "failed investment" since you have to fork out money every month because rental cannot cover expenses.

And then later try selling this unit....with 999 other competitors in 1 development.

This post has been edited by BeastB: May 17 2019, 09:09 AM

Developer probably paid the contractors and architects an extra 1 million to get this special design....and then sold each unit overpriced by 70 - 80K. Major profits. Kudos to the marketing team, they deserve a huge bonus.