Hi guys and girls,

Good day to all..

I have recently booked a condominium unit at Setia Seraya, Presint 15, Putrajaya, develop by SP Setia..

It is planned to complete by year 2020 and I'm planning to rent it out upon completion..

As Putrajaya is mostly a government hub with most of the residents are government servants, any opinion on how easy the unit can be rented out?

Also, it is quite close to Cyberjaya and quite far from Puchong, I'm afraid I'll be having very limited available tenant to rent my unit..

Any opinion n suggestion on my concern?

Your advices and feedbacks are very much appreciate. .

Thanks!!

If I'm not mistaken it's Setia Seraya is located next to Dwiputra which currently has a lot of WTR/WTS signs. I'm pretty sure that would give you a good indication of your prospects there.

a) What's the price, size, number of rooms of the unit

b) Can you rent to cover installment?

Investment perspective, your property should be in either of these categories:
1. Decent to good capital gain and positive cash flow
2. Decent capital gain but no positive cash flow
3. Limited capital gain but positive cash flow
4. Limited capital gain and negative cash flow.

U should at least expect 1-3

This post has been edited by propertybuddy: Sep 11 2017, 10:55 PM

How much the price and size?

Im not familiar or have knowledge in putrajaya area so dont want to speculate/make blind assumption.

Demand is high in putrajaya i heard but not sure on their rental affordability/rate

almost all the government servants already hv their house there
no ppl ll buy or rent in putrajaya

Yeah, you r correct.. one of my friend actually bought one unit at Dwiputra n plan to make it a home stay (Airbnb)..

I did check on i-Property n found that the price for Dwiputra actually dropped 15-20% compare to the original price, which tells something I guess..

The prove is roughly 590K, 1001sf build up with 3R2B.. Is low density which only have 350++ units..

The monthly installment will be roughly RM 3000+ together with maintenance fees.. I best guess will be even I rental the unit I still need to cover around 40% of the monthly installment..

Still want to proceed w yr purchase?

Price is roughly RM 590k with 1001sf..

Is it demand is high in Putrajaya? I though demand is also quite high in Cyberjaya..

That's what I had in mind also.. This Setia Seraya offer 25% discount for government servant, which make it easier for them to own or rental out the house..

Demand is high in putrajaya IF

1 govt is increasing the head count of public servants base in putrajaya that can afford to rent the property in yr price range

2. Foreign workers or students that either wanting to rent in putra or unable to rent in cyber.

100% NO

Better not take risk...
What I know many gomen staff in Putrajaya not so keen to stay here... Many prefer to travel from nearby places where its more mature & sustainable living with all the facilities available..

590k why buy here? it's too far and your tenant should be govt servants only?

buy in KL proper la. Kepong, damansara perdana, got many subsales around that price.

rental should be easier, right?

btw, where do you stay currently? if you stay very far from Putrajaya, you'll have headache everytime you need to go to your rental property

What? Seriously? I doubt so. The facilities here is much better than anywhere else. I think ur perception is totally wrong that they prefer to stay elsewhere.

The only question here who will be the tenant for higher end condo. Govt staff can get govt housing, higher ranking officer will buy their own with special discounts. After considering that, I'm not sure who the target market is as I'm not familiar with the rental market in putrajaya too.

putrajaya only good for own stay..not good for investment

600k hit direct at KL la bro... Old klang road ka, damansara ka, mount kiara ka

with 10k unit ppa1m in next 2 years.... i not sure how u can rent ur unit out

This post has been edited by ahkit123: Sep 12 2017, 03:02 PM

less than 570k can get 3 rooms freehold condo at OKR already... cin cin cai also better prospect than putrajaya with one and only source of tenant from government servants which most already have a place to stay... and dont foresee the headacount will increase drastically there...

I'm also curious who will rent in Putrajaya? Even one of my relative who works as government servant in Putrajaya also started by renting in Seri Kembangan, then purhcase a house in SK, and now bought another condo in Cyberjaya

Yeah, you r correct.. Subsale around Setapak also not bad, with existing tenant some more..

I'm staying at Cheras, which you r correct again as it will be quite troublesome for me to manage it if I really bought it..

But as now there will be another MRT line all the way to Putrajaya central in 2-3 years time, which shorten the time to KL, will this make the properties in Putrajaya more attractive?

If u have holding power 10 years, then ok

Why the magical 10yrs?

How much cost u have put in in 10yrs in exchange of what kind of capital appreciation?

When MRT2, hsr, monorel in place more private sectors coming in.... With inflation rate. Doesn't matter whatever u buy right

KL got so many condo that you can buy for rental for that budget and rental will be better and easier.

kepong. damansara perdana, sentul, jalan ipoh, cheras, setapak, melawati,

go find arc liberty near the ampang ukay, i heard pricing good, i got friends bought that project (recent one).


This post has been edited by corleone74: Sep 12 2017, 11:57 PM

exactly. if your property appreciate 50% in 10 years, but you took 90% loan, is as good as NO PROFIT.
that's why, if buy for investment, MUST HAVE TENANT

This post has been edited by corleone74: Sep 12 2017, 11:59 PM

It does matter.

might as well u buy Tamara residence subsale.
priced at 630+k but negotiable. lowball them till 600k
at least bigger sqft and lake view

This post has been edited by riezzien: Sep 13 2017, 05:27 AM

Yeah, I guess you are correct.. As long as the rental fees cannot cover the monthly installment, that already consider not a good investment..

Thanks for the info.. Surely I'll go and have a look.. Ampang is a good place for investment I think..

these days msia property cannot cover full monthly installment unless your loan is less than 80% loan and your tenure is 30 years (ie you're quite young).

personally i don't like that project (arc liberty) cos it's too many unit, and location i don't really like as it's beyond the MRR2...

but my friend is a better investor than me.

look at the price i heard 300k studio. price is cheap and fully furnished, size 450sft.
make your own conclusions.

but definitely better than your putrajaya project for rental purpose.

This post has been edited by corleone74: Sep 13 2017, 10:18 AM

The new MRT line will also connect Seri Kembangan and Cyberjaya, so I believe Putrajaya will need something more than connectivity to attract people to stay there

Putrajaya is a very special places for prop invest or self staying, as the entire city is isolated and self developed. As the city 98% are government servant or anything relate to Gov.

Prop price appreciation may high, rental may good but it all are between the community "Gov", private sector wont come to Putrajaya and non muslim felt difficult to be apart in Putrajaya as the symbolic on Gov & Islamic is too strong. But visiting for holiday or other propose (function) is yes. non Muslim Staying in putrajaya i don think so else u are gov servant working in putrajya.

At the time being It is a only halal town in Malaysia, peace environment, Nice & free landscape which u wont find other places in Malaysia.

That's true also..

I think the price is 'ok'.. I've earlier bought the Empire City SOHO unit in year 2011, size 450sft, partly furnished and the price after 5% discount is 260k.. Not much different in terms of price..

But SOHO sometime is quite easy to rent out, depend on the surrounding.

Like what you've highlighted, it is more likely to own a property in Putrajaya for home stay instead of investment.. Some of my friends especially Malay likes to visit Putrajaya for leisure activities during weekend.. Investment wise maybe not that ideal unless we have strong holding power, and lots of money to spare..

Im not muslim i also like to visit putrajaya, it is a wonderful place.
i noticed home stay in putrajaya is doing very good.
property in putrajaya also not cheap now oh.

almost all properties will appreciate over time. so i darw not say waste of money. but defenately waste of time. youll almost certainly make more and in a much shorter period if u invest at a better location. look at the demografics bro. should be self explanatory.

got offer 400k -1200sf for tamara last time... too bad no bullet to shoot that time

can cover half good d.... the rest consider force saving lo

Empire..... no no

wonderful, so you know how to earn money from property already.

Yeah, no no.. No more next time..

Not earning yet.. Now rent out but rental fees cannot cover monthly installment, as what we expected..

that is not ideal but still better than a property that has Zero cash flow for months on end. how long has your empire studio ever been empty at one stretch? whats the turnover like? thanks

Classic life insurance salesman talk.

Back to the fundamentals..
.
1. You're buying at 590k or about 590psf
.
2. Rental u expect u need to fork out 40% per month which translates to about -1,200 cash flow per month.
.
3. Only one market of renter - gomen.
.
I don't see the reasoning buying this while u can get things like

+ 500psf
+ below 500k
+ less than 500m to MRT station
+ near Shopping Mall
+ potential breakeven rental with MRT
+ wider tenant market: minimum 3 target tenant type
+ rental to breakeven is just about 50% of what you pay for your putrajaya consideration

Well, as you know, this Empire project at Damansara is not in good repuration..

We r forced to accept the VP even the unit is still with many defect and the surrounding is not yet complete..

Anyway, we managed to rent out the unit after 6 months.. This is the first year for our tenant n they already asking to extend for another year..

So far so good..

Well, you r definitely correct..

not in good reputation, that is people say only. meaning- so what everybody say "no good no good". you already collecting rental. as you mentioned :" so far so good".

methinks, it is quite OK for KL property.

and good that tenant extend another year.

care to share what is the rate? thank you.

so therefore as mentioned you already know how to invest in property. no reason to choose putrajaya, so far away, boring place and not cheap.

This post has been edited by corleone74: Sep 14 2017, 11:17 PM

Yeah, you r correct in a way.. They r slowly making the place better n better.. Hopefully they will continue doing so..

The rate currently is RM1200 for fully furnished..

I will say between RM1000 - RM1200

about 4% nett. can la, not bad. hope you have tenant all the time... best of luck.

PR1MA @ Putrajaya, Precint 11 lelong unit check in once again.
Launch price: http://notakanan.blogspot.com/2011/10/temp...presint-11.html

- 420 unit rumah bersaiz 815 kaki persegi dengan harga RM120,000.00 setiap satu.
- 140 unit rumah berukuran 1,006 kaki persegi berharga RM150,000.00 setiap satu.

Lelong price today (according to bank valuation):

B-4-5, PRIMA, No. 1, Jalan P11E/1, Precinct 11
Reserve price 🔥🔥RM 252,000🔥🔥
Freehold
815sqft
Auction: 28 Sep 19 (Sat)




This owner stand to earn something out of this even though in reality got 5 years no sale moratorium period for PR1MA project.
Or maybe the government will take the earning?

Anyway, this PR1MA also famous for owner renting out instead of own staying: http://www.utusan.com.my/berita/wilayah/kl...ewakan-1.620663

Any updates on Setia seraya project? Whats the current promo available.. and the nett price

Hi Everyone, who interested invest or stay at Putrajaya can look for me ya, now developer giving a very good offer

TS's property completed exactly during MCO. I am sorry TS about this.

So what was the outcome of this lelong please?