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Investment RYAN & MIHO @ SECTION 13 PJ [OWNERS' THREAD], When A Boy Fell In Love With A Girl

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balistafear
post May 9 2017, 04:11 PM

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Quite familiar with this area, I have concerns with the high volume of apartments coming up in the immediate vicinity.

Jaya One Residence
Pacific Star
PJ Midtown
Avenue D'Vouge
Centerstage

plus lot's of unknown land which still has the potential for future developments including F&N city, British American Tobacco and the factories lot.

Too high density with no clear incoming supply of tenants. Investors should worry.

Own stayers should be ok. Just take concern on the traffic and road. Currently Jalan Kemajuan & Jalan University (2/3 of the main roads triangulating the Sec 13 area) is IMO unable to fully support the traffic during peak hours.

Jalan University heading to University Hospital can be an absolute nightmare during peak hours/Fridays and bonus points if raining. If you see the queue after coming past the ramp (KFC) on your left, good luck to you.

Jalan Kemajuan not sufficient to handle heavy traffic.

At lease Jalan Semangat still boleh pakai.

Just sharing my biggest pain points as of today. For this price point, there's definitely many more options to consider if you're willing to forgo the city image and travel further a little.


balistafear
post May 9 2017, 06:23 PM

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QUOTE(icemanfx @ May 9 2017, 05:40 PM)
Some guru claimed there is no more land available for development.
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I guess what they actually mean to say is no more "freehold residential" land. Haha. That, still can believe. No more land, that one susah to believe. Lots of land everywhere, just a matter of zoning and price.

P/s: The freehold residential land I heard that for Ameera Residence, then after that Biji Living.. sure bo?
balistafear
post May 9 2017, 06:27 PM

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QUOTE(richard912 @ May 9 2017, 05:56 PM)
Still quite a bit of industrial plots around the area. BAT will eventually be redeveloped too
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Sold for RM218mil. Almost 4100+psf. Add in double for construction materials + 25% for profit = lot's of high rise units.

Welcome to the block!
balistafear
post May 9 2017, 06:30 PM

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QUOTE(empatTan @ May 9 2017, 04:57 PM)
They should build terrace houses here!
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Cannot lah, zoning is under commercial purpose. Unless you want to build service apartment but for landed house property.. we shall call it Service Residence!

Price PSF = land price of RM4100+ psf excluding building cost excluding profit. Go count, sure you pengsan one.
balistafear
post May 11 2017, 10:26 AM

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QUOTE(klluxuryproperty @ May 10 2017, 02:05 AM)
Oh wow  blink.gif  blink.gif ... I have been living in condo size 836sqft 2+1rooms 2 bathrooms with yard and balcony for almost 4 years. Im happy with this size.
Especially for small family/newly wed couple/anak ikan,anak itik,anak ayam Dato datin....
If 2adults and 2 childrens, 700-900sqft is quite decent...
easy to maintain and cheaper renovation cost cuz just a small space.
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Quite tight still IMO. Typically 1000sqft 3bedroom unit with proper kitchen space and backyard to hang cloths is ok for most to stay long term. Your place might find it tight once kids bigger and need their own room (especially if one is boy other is girl)

Just my 2 cents thumbsup.gif
balistafear
post May 14 2017, 01:14 PM

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Actually one of my concerns are who/what category of people would be the main long term demand people there? That is the bigger question that needs to be addressed.

Family? Most local Chinese families would opt for a landed property if their finances allows. Many still hold high regards to owning a land, as oppose to sharing an apartment.

Young family? - size might be an issue for smaller units. Bigger units would cost close to 1mil at here. For that price, there are plenty more options to look at eg Bukit Jalil, Kuchai & USJ areas.

Students tenants? Not sustainable in the long term, plus not many universities here with students of spending power to stay here. Currently, perhaps only MAHSA & private colleges students can. UM, UIA all memang beyond budget.

Young working adults (locals) - Perhaps. Most here are currently renting per room basis at landed neighbourhoods (SS2) or older condos (Tiara Damansara/Kelana Jaya) for cheaper rent.

Expatriates? Not enough supply to significantly contribute.

Corporate & MNC's leasers - ditto
balistafear
post May 15 2017, 10:25 AM

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QUOTE(Veda @ May 14 2017, 08:02 PM)
I'm familliar with the recently completed Section 13 projects.

I'll say the usual tenant profile  for Section 13 is:
40% students (BAC, IACT mostly ... but problem is Atwater and Ryan& Miho are not walking distance)
25% young executives (local, Indonesians, Pinoy, Indians from India, etc)
10% are 'decent' couples or families
20% either blue collar or dunno-what is their job foreigners (no need name nationalities otherwise i get accused of being racist)
Maybe 5% are property "investors'" wet dream - managers, businessmen, 'real' expats, Koreans, Japanese, Singaporeans, ppl who drive luxury cars. That's 5 out of every 100 units, and I'm being optimistic here.

And yes, I personally saw two police raids on a Section 13 high rise - once by plain clothes cops and once by those carrying assault rifles. Probably drugs related lah, no need for assault rifles for vice, right?
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Thanks for sharing, good info & intel! You're staying/working at section 13 too?

Agreed R&M + Atwater too far to walk. Either way still need car to commute at places like this nowadays.
balistafear
post May 16 2017, 10:41 AM

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QUOTE(Veda @ May 15 2017, 05:01 PM)
You are welcome. I'm currently staying in section 13, working nearby. Currently undergoing a major life transition ... don't intend to stay/work there for more than a few years.

You are also knowledgeable about Section 13- are you  staying/working there too?
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Parents house nearby rclxms.gif So quite familiar with the vicinity, from back in the days when these were F&N factories + occasional warehouse sales lol.

 

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