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 Anybody regret buying service apartment?

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alexkos
post Dec 2 2019, 07:44 PM

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How expensive? Rm100 per Month? Got pao what?

Pao clean inside Outside
Pao throw rubbish vacuum inside, mop

What else?
buysellaccount
post Dec 2 2019, 07:44 PM

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- boop -

This post has been edited by buysellaccount: Dec 2 2019, 07:45 PM
silent_stalker
post Dec 2 2019, 07:55 PM

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Serviced apartments in malaysia is bullshit.

Developer just use that name to build residential properties on top of commercial land.
ikankering
post Dec 2 2019, 07:57 PM

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QUOTE(jmas @ Dec 2 2019, 07:14 PM)
commercial title vs residential title, thats all

by right, in europe, “Serviced apartments” are commercial units, fully-furnished, with services such as housekeeping, room service, and concierge. They are usually rented out for short-term or long term to tourists, business travellers, or expats.
But in malaysia just another way to say, "We built this on commercial land, you will have to pay commercial rate. btw you will share the land with a mall, and sometimes a hotel"
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no buyer can sell to foreigners.
novblaze
post Dec 2 2019, 07:59 PM

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max_cavalera
post Dec 2 2019, 08:04 PM

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QUOTE(silent_stalker @ Dec 2 2019, 08:55 PM)
Serviced apartments in malaysia is bullshit.

Developer just use that name to build residential properties on top of commercial land.
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This
TShazremi
post Dec 2 2019, 10:38 PM

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QUOTE(silent_stalker @ Dec 2 2019, 07:55 PM)
Serviced apartments in malaysia is bullshit.

Developer just use that name to build residential properties on top of commercial land.
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but still lots of ppl bought them...i guess they regret later?want to sell also not easy i guess
rooney723
post Dec 2 2019, 10:40 PM

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QUOTE(hazremi @ Dec 2 2019, 10:38 PM)
but still lots of ppl bought them...i guess they regret later?want to sell also not easy i guess
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all buy to flip when the property sector boomed many years bck, nw all crying cannot rent cannot sell
emburrar
post Dec 2 2019, 10:41 PM

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cukur ayam no buy
silent_stalker
post Dec 2 2019, 10:43 PM

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QUOTE(hazremi @ Dec 2 2019, 10:38 PM)
but still lots of ppl bought them...i guess they regret later?want to sell also not easy i guess
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Coz, the so called "serviced apartment" normally dev sell it with attractive offers. And not many people knows what serviced apartments actually is.

This post has been edited by silent_stalker: Dec 2 2019, 10:44 PM
thefryingfox
post Dec 2 2019, 10:51 PM

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I live in a service apartment.

Nice thing is....pool always clean 3 times a week,. Gardner clean the garden area .make sure everything trim etc...cleaner mop the hallway 4 time a week...mop everything.....it's clean that's all I can say.....maintenance about 320 a month.
silent_stalker
post Dec 2 2019, 10:52 PM

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QUOTE(thefryingfox @ Dec 2 2019, 10:51 PM)
I live in a service apartment.

Nice thing is....pool always clean 3 times a week,. Gardner clean the garden area .make sure everything trim etc...cleaner mop the hallway 4 time a week...mop everything.....it's clean that's all I can say.....maintenance about 320 a month.
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Thats not what serviced apartment is. U just have good management.
holypredator
post Dec 2 2019, 10:53 PM

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QUOTE(hazremi @ Dec 2 2019, 06:58 PM)
Anybody regret? Either for own stay or investment?

Regret because of high cost to maintain?
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Maintenance cost is to cover building and facilities maintenance.

Most of the time, people buy service apartment is due to convenience and lifestyle because service apartment mostly located in the city center itself.

It is generally safer to live in a service apartment due to its security but many new landed project these days include fully gated and guarded facility which you would need to pay for the monthly maintenance as well.

New landed project is mostly outskirt hence some may not prefer the distance and the costs needed to travel to cities and workplace.

Overall, there is nothing to regret about buying a freehold service apartment situated in the city itself and you need not to worry about property appreciation because the property will appreciate overtime due to the limited land within the city itself.

However, if you bought service apartment located in the outskirt then you might worry in terms of property value and the long term costs travelling costs.

This post has been edited by holypredator: Dec 2 2019, 10:55 PM
SUSAud power
post Dec 2 2019, 11:03 PM

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QUOTE(jmas @ Dec 2 2019, 07:25 PM)
no, you get nothing other than higher maintenance cost.

I am always miffed by the way developer in Malaysia called it "Serviced Apartment".

But then, I recall nearby KLCC got a few REAL full Serviced Apartment, full service like a 5-stars hotel.
Except you bought the house instead of renting a room.
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those ones sound like you pay like 2mil for a 2 bed room lel
SUSlurkingaround
post Dec 2 2019, 11:15 PM

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Serviced apartments with commercial titles(= not residential titles) only started about 15 years ago - they are different from the previous normal residential apartments and condos. The BIG question is why did the government allow serviced apartments.? In the beginning many gullible buyers were quietly misled by housing developers into thinking they were buying the usual residential apartments until they got slapped with commercial rates for their maintenance fees, utility bills, cukai pintu and quit rent.
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holypredator
post Dec 2 2019, 11:24 PM

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QUOTE(jmas @ Dec 2 2019, 07:25 PM)
no, you get nothing other than higher maintenance cost.

I am always miffed by the way developer in Malaysia called it "Serviced Apartment".

But then, I recall nearby KLCC got a few REAL full Serviced Apartment, full service like a 5-stars hotel.
Except you bought the house instead of renting a room.
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You need to study more about property.

Those are service residence units of the hotel building. They are units owned by individual buyers and normally are above the hotel units.

These units ARE NOT serviced by the hotels staff. They are allowed to use the same facilities in the hotel building but the hotel cleaners, bellboy and receptionist/concierge does not form part and parcel of your unit bought, meaning to say they will not do housekeeping for you or handle airBnB for you.

However, there are some that allows you to do pay-per clean service, meaning to say they will help you to do housekeeping if you request and they will charge you a fee each time they clean for you (and it is normally more expensive than you getting a part time maid).

For any other service apartment that are not built on a hotel building, they function just like a condo except they have either a mall/shops on the lower ground floor or within close proximity. They are allowed to convert their utilities to residential rate.

The maintenance costs are like condo, which is to pay for security, facilities maintenance etc.





pisces88
post Dec 2 2019, 11:26 PM

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Regret bought a condo , should have invested in different area, bcos that condo cannot appreciate
holypredator
post Dec 2 2019, 11:32 PM

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QUOTE(lurkingaround @ Dec 2 2019, 11:15 PM)
Serviced apartments with commercial titles(= not residential titles) only started about 15 years ago - they are different from the previous normal residential apartments and condos. The BIG question is why did the government allow serviced apartments.? In the beginning many gullible buyers were quietly misled by housing developers into thinking they were buying the usual residential apartments until they got slapped with commercial rates for their maintenance fees, utility bills, cukai pintu and quit rent.
.
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Serviced apartment in Malaysia is basically building a residential building on a commercial land. They normally need to fulfill the commercial requirement by building shops or commercial units at the bottom floors.

Quit Rent = Cukai Pintu in the Malay language

All owners of landed property and also strata titled property needs to pay quit rent.

Utility rates for serviced apartments are commercial by default but can be changed to residential upon appeal. However, as far as I know, only the electricity bill can convert but I heard some projects are able to convert the water bill as well.

Maintenance fee basically covers your facility, building and security maintenance.

Please get a better understanding about how the property market works before commenting.

This post has been edited by holypredator: Dec 2 2019, 11:32 PM
Pichu00
post Dec 2 2019, 11:33 PM

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Want investment always buy residentail unit and land not commercial unit
rrmax112
post Dec 3 2019, 12:15 AM

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Studio unit not easy to sell.

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