Just back from the private preview.

the brief information is as below.

Unit size: 380 sf, 570 sf (dual key)
Price after rebate: from RM 1,450 psf.
Possible rebate: 12-13 % max.

The targeted market is for for Airbnb business.

The only advantage is low upfront and for those LTV70%.
I don't have the idea about having such a small unit in the middle of KL, whether there is a secondary demand for it.

Vibey,
I assume you are one of the agent.

At RM 1,450 psf post rebate price, it is abit steep compared to property in the same area.
Suasana and Verticas is only selling at RM 1k psf. Yeah there are bigger units and possible partial furnish, but the price of Ceylonz cannot be 50% more than the completed units. We are not talking about the real SPA price of Ceylonz which is > RM 1.6k psf before rebate. Whoa...

Also for 384 sf, is it easy to sell in secondary market? any agent can testify that?

even though I worked in KL, my definition of prime is KLCC area. for any other area, I cannot gauge its potential nor justify its asking price. Just like Ampang where it is supposed to be prime, but look at the psf is hovering around 1-1.1k psf. Even Bangsar South which is relatively new area is selling at that price now. hence, Jalan Ampang is relatively low psf considering how close it is from KLCC, and the number of Embassies around it.

So for that reason, for Ceylon area to ask for >1.5kpsf (after rebate mind u) for this project, I don't know if it is justifiable.

Anyone know this Ceylon area well? Really that prime? Monoland Skysuite is selling even lower than that and its 100m from KLCC.

That's why my concern is, this project boleh kar?

3k rental for 384 sf is little hard to absorb by market, especially in this area. unless this is really posh development, which Exsim is not yet know for.

there's a long chat in lowyat for Sky Suite which I have notgone thru yet.

Yes, more of a pride of owning a piece of KL and easy entry. I knew sky suites project, but didn't know if it is still available and more over, I think that is bound by LTV 70%, which Ceylonz is not.

The agency is promoting the unit as potential Airbnb or other mean of short term stay.

My concern is
(1) whether Airbnb will be the legitimate business model, with the potential of future regulation and possibly resistance from hoteliers and neighbours alike. in the case if resident

(2) if you are a long term stayer, would u stay in a place where people can come in and out freely? would you complain to the JMB and restrict them? I have never stay in an apartment, but I think sometime you don't even know who is your neighbours, hence, would you even care?

(3) would you pay RM 2.5k for a room without kitchen?

Dude Vibey,
I make a quick check on rental, both monthly on iprop and daily on airbnb.
For One @ Ceylon, monthly rental conservatively stand at RM 2k for 411 sf.
And on Airbnb, i can see Invito daily rate is at RM 99 / day minimum.

it is alot. of course we have to see at the psf cost. industry standard for small unit as far as i can see does not exceed 0.50 psf. i believe RM 200+ is for units of this size in CBD. but not RM 300.

heard that the typical facilities is nothing out of ordinary.

make a site visit yesterday. it is a good neighbourhood. but it is at the tail end of prestigious Ceylon belt, almost at the junction of Jalan Raja Chulan. its a quiet neighbourhood, but i have to agree that it is in Zone 2. Suasana Bkt Ceylon used to be the last one on this belt, but this title will be very soon acquired by Exsim. Still, walking distance to Ceylon nightlife is not too far, about 600m or 10-15 min walk, where u will pass through One Ceylon, 6 ceylon, lanson place, laman ceylon, verticas etc.

Pavilion Ceylon Hill is selling at about RM 1.3kpsf with min build up of 800sf, making an entry of 1.1 mil.
While i know higher build up translate into lower psf, but i cannot help but to compare both projects.

Psf : 1.3kpsf (Pav) vs RM 1.45kpsf (Exs)
Branding : Pavi > Exsim. Even the name carry more weight. To be frank, Ceylonz suite just an lazy way to name it.
Land tenure: Freehold (Pavi) vs leasehold( Exs)
Location : Pavi (Zone 1) vs Exs (Zone 2).

I know many will argue it is not an apple to apple comparison, but whatever higher price due to lower build up should be on par with Pavilion, since Pavilion are more superior in the important consideration point as above.

the only reason why Ceylonz Suite can be sold at such a high price psf because it position into a sub 600k with a tiny build up where many can afford and loan 85% for 3rd prop.

the only reason why i have some much studies is that i am also considering this prop.

hi goks,
what u said make perfect sense. in fact i would have done the same. But what is stopping me, or us to do as what you said.

the most obvious is te entry level. for subsale at this location will, you will easily need a pocket of ~ 100 grand, looking at a good units cost ~ Rm 700k. What about those limited by LTV 70%. This provide a strategic entry for basically everyone to own a piece of Ceylon area. Not many has deep pocket like you.

while i have to agree that the airbnb is not proven or sustainable, it may turn out to be a disruptive products acceptable to this area.

i agree. RM 1.45kpsf is indeed overprice regardless of how small the unit is.
Pavilion Ceylon Hill would have been ideal if the size werent so big.

to be frank, i am quite impress with their project, at least from picture and never actually visited any of the site. and they are quite a new player and came up with quite a good reference.

But can you elaborate on your experience?

bro,
the attractive point here is that it is easy for someone to own a piece of prop in the golden triangle, be it for first time owner, those limited by LTV 70% and anyone in between.
if you have equivalent psf (or lower) and EASY entry like this in pavilion area, pls share with us.

otherwise anyone can claim they prefer this and that area, which at the end is only for the elite.
Given a choice, i also want KLCC/BB area, but limited only by my bank account.

Vibey,
They have private viewing yesterday which I;m sure you are aware off and pricing already being released on the kind of rebate given. I;m not sure what other price we still have to wait other than the actual unit price which depend very much on which floor you are getting.

I have the brief information which i think the rebate is abit confusing as they are few tiers. also there are also with and without GST price and package, and furnish and bare unit.

my view as investor is that: i want easy entry and full furnished. In this case if i choose furnished, i have to pay 6% GST, which is very substantial and no longer as easy entry as it was. then if i have to furnish according to airbnb standard, a bit of effort has to be there and not so straight fwd.

agree must say agree mah.
anyway the Ceylonz site is not too far also lah. walkable

are u one ofthe agent?

for the time being, no go for me.
i have been studying this project and was quite interested at the beginning. but the more i studied it is not as straightforward.
first of all the rental portray is best scenario with high rental and 70% occupancy. occupancy rate may be achievable, but the rental?

you have to consider airbnb commission, easily set u back 10-15%. u have to consider electricity and water cost. people who stay there will not help you to save those utility bills and mine you this is a commercial rate. how about things that you have to replace like toiletries, towel replacement, and small little things that hotel always provide.

i dont know if those provider like airporter really do A-Z for you and u just have to wait the bill to come in.

that is if you manage yourself. but how many of us can do that.
if you let some pro to manage for u like airporter which IQI brought to promote the airbnb business then you have to pay them 10-15% like what they say.

that is my view and i said it is no go for ME.
i agree with price point its easy entry, which is the reason why i spend time to research the viability.
but at the end it is not when everything fall together,
is the price psf cheap? No
absolute price - cheapest, yes
is the size attractive - maybe.
rent strategy - airbnb (due to small size) short term, long term tenancy maybe not.
location - its in ceylon. so not too bad. but in zone 2.

if u think you are ok with the location, price point, and have your own renting strategy, by all mean go for it.

can u just give the straight rebate how is it look like?
there are 3-4 tiers and then those that come this weekend will have additional discount.

if u are an agent, i suggest u to provide the rebate so that everyone can make a decision