QUOTE(W.ROOK @ Apr 14 2018, 12:40 PM)
This is what I was saying earlier but they are not bothered cause the booking rate are doing well. Not up to the extend
of BBB but quite well despite the cautious market.
As for this statement " without a yard there is a no way to connect the suction out for your cooking hood" probably
Fat3Twister could clarify on this.
Yes, we can use a filtered hood, it's ductless.
QUOTE(zugzwang @ Apr 14 2018, 01:27 PM)
I really have the interest to invest here. I would like to pose a few questions :
1) Will I potentially get a minimum 5% ROI if I rent it out (fully furnished)
2) Who are my potential tenants? People who work in TRX and KLCC? Or people who potentially work in Bandar Malaysia (in future)?
3) Does this development have the competing power against development like Eko Cheras and upcoming MKH and Dupion Island project in Cheras?
4) Does the population in Cheras area have the capacity to absorb the ever growing number of service apartments and condos?
Your feedback will be much appreciated.
Rgds.
1. 650sf starts from RM368,620. Just take RM375,000 for calculation, 5% annual yield is RM18,750 a year, translate into RM1,562.50/month.
I'm not going to tell you how much it can fetch, I show you some examples of the asking rental now
a. Maxim Residences, 600m walking to MRT Tmn Connaught, asking rental is RM1500-1800 for 2 rooms unit fully furnished, i have called 3 agents to verify.
b. Seri Puteri Condo, 100m walking to Star LRT, located near Bdr Sri Permaisuri surrounded by low cost housing area, probably considered as apartment with a small swimming pool, no other facilities, 3 rooms renting at RM2000-RM2200 fully furnished.
c. Lido Residency, 600m walking to MRT Tmn Pertama Station, 2 rooms fully furnished RM2000-RM2300.
So do you think it's possible to rent at RM1,562.50/month fully furnished?
2. Potential tenants, well, from Tmn Connaught station
1 station to Tmn Mutiara station, Leisure Mall & busy commercial area including banks like CIMB, Maybank and Hong
Leong, small office tower Cheras Plaza, easily hundreds of retails/offices here.
2 stations to Tmn Midah, again, another busy commercial area with hundreds of shops/offices here including banks.
3 stations to Tmn Pertama, also commercial area but not as vibrant as the 2 stations before this, but still when there
are business activities here, there will be people working here.
4 stations to Tmn Maluri with AEON Maluri and Sunway Velocity within walking distance.
5 stations to Cochrane, linked to IKEA and MyTown. Cochrane will be very busy in the future with many development
in progress
6 statiosn to TRX and 7 stations to Bukit Bintang area
I will just stop here and you may try to imagine each and every stations, whether you can find your potential tenants there.
3. Competing power with Ekocheras, Dupion Island and other projects. Well, there is no 2 same properties on earth. Every property will have their own target of tenants, given some people willing to pay more to get additional benefits while some people might choose to pay lower rental and let go some benefits. Probably you can ask this, if you want to get RM1,562.50/month, do you think Eko Cheras and Dupion Island will be rented out at this price and grab all your potential tenants? or probably they will command a higher rental like RM1800 or Rm2000?
4. As someone has mentioned, the transformation is taking place. Kuala Lumpur is nowhere near Singapore, Bangkok or even Jakarta. These cities are so crowded that you don't have to worry about the demand of properties with good accessibility. Malaysia will be moving towards this, with the completion of MRT Line 2,3, LRT 3 and HSR, when Bandar Malaysia, TRX, Warisan 118 are up, you wont be too worried about the demand. You might say these are still long way to go but properties is about buying the future, the days where u buy today and flip upon completion for 30%-40% gain has long gone.
Let's stop talking about future and look at the history, look at Mahkota Cheras, when the township started in the early 2000s, the population was less than 20k, but the population there was more than 110k (reported in 2012), the number now i will try to find. As more amenities, infrastructure completed, the population will increase. This is how transformation works. When the houses was built massively in Mahkota Cheras, many were worried about them being vacant also.
Of course I can't be sure all condos and serviced apartments will be filled up once they are completed, but we can choose those which might be filled up first as compared to others. If the property has competitive edge over others, then dont have to worry much.
Forgive me for the long reply, just my humble opinion.