QUOTE(jcts @ May 23 2018, 08:54 AM)
You sound like you have bought and being cheated by them.
If your investment is based on the high ROI mentioned by agent then you only have yourself to blame.
Come on, they are sales agent. Of course they will hard sell the property, otherwise they got no commission/income.
Don’t get me wrong, I do agree with you on the high ROI they stated. It sound like too good to be true deal.
We responsible for every single decision we made, not agent. They don’t give a damn after they got their commission.
Totally agree with you bro on this.
The ROI states by the sales agent is too good to be true. Most agents don’t give a hoot about you after they close the sales. They will go on their incentive trip while you rot in misery. So do your due diligence before buying any property.
Scarletz is basically located in Jalan Yap Kuan Seng. It is selling at $1400psf, bloody cheap if you compare it to let’s say Royce Residence ($2200psf) which is just opposite the road, right?
However, in today’s market, Hampshire ($1000psf), KL Trillion ($1200psf), Tropicana Residence ($1200psf), Panorama ($1000psf) and many more are selling cheaper than Scarletz?
Thus now that you put all these development into perspective, Scarletz seems to be not so cheap anymore. Right?
The only residential I can remember now that is more expensive than Scarletz is M101 SkyWheel ($1500psf), Aria ($1700psf) and of course Royce Residence ($2200psf).
Based on simple mathematical logic, it is never a good idea to invest in the top tier range of price in any investment as you have little moat to protect your investment. Warren Buffett taught this, not me.
Buying at the top end price doesn’t make sense when you can buy some subsale condominium walking distance to KLCC today at just $700psf.
So, I don’t see why people are buying Scarletz.
Plus, for AirBnB, there’s an invisible cap on how high the AirBnB rates can go. It will NEVER be more than the hotel rates nearby.
I did some digging of AirBnB rates around KLCC.
This is what I found on AirBnB.
1 bedroom - $60-100/night
2 bedroom - $130-150/night.
The 1 bedroom are those 400sf kind ya.
Scarletz dual key is only 200sf.
I’m not sure whether does size matters in AirBnB rates.
Not much data on 200sf rooms.
But anyway you look at it, sounds like a bad bad bad investment choice. You can’t exit and you can’t make a profit, die loh like this.