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Service Apartment and Condominium, What different between this two!!!
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Pai
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 Sep 15 2007, 04:56 PM
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QUOTE(-=KK=- @ Sep 15 2007, 11:45 AM) As Title: I wish to buy a property at Bayu Puteri - Tropicana or Palm Spring. However, Bayu Puteri - Tropicana is a Service Apartment Palm Spring is a Condominium. What is the difference between this two? Is the Comdominium better than Service Apartment? 2 key deff : 1. Service apartments sits on commercial land, while condo sits on residential land. 2. Due to the above, u will have to pay slightly more in terms of water + elect charges, as u r being charged commercial rates. |
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Pai
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Sep 17 2007, 10:37 AM
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QUOTE(aaronpang @ Sep 17 2007, 10:21 AM) edit: Another thing you should do is to compare the SPA between a commercial property you're interested in with the SPA for a residential property. Note the difference and query the developer or check with someone knowledgeable. Aaron bro, effective 1st April 2007, all SPA for service apartments is now standardize under HDA, and that means we'll be using a standard SPA for both commercial and residential titled properties. |
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Pai
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Sep 17 2007, 11:22 PM
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QUOTE(hackwire @ Sep 17 2007, 09:13 PM) not yet , i think its not been enforce yet. banks are still not interested to loan out to some serviced apartment . i asked them why, they said its the ruling . i think they know very well. enforce already fren, just bought a service apartment last month  |
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Pai
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Sep 18 2007, 10:21 AM
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QUOTE(aaronpang @ Sep 18 2007, 09:46 AM) Thats good news indeed...  Does the SPA 100% match a typical HDA buyers SPA like DLP, LAD etc, just wondering? Is this a newly launched project? Any pitfalls? or is everything else the same please share  basically uses the standard HDA, and its not a a newly launched project. Bought it when it was 95% completed, now already 100% completed with CF  Pitfalls, will share if I encounter any. So far so good |
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Pai
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Sep 18 2007, 11:56 PM
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QUOTE(hackwire @ Sep 18 2007, 11:35 PM) how about the increasing price of quit rent and other bills. are they using the residential rate instead of commercial rates. most serviced apt maintenance rate is quite high also. buy small units n u'll be fine. The one I bought is a small studio unit  |
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Pai
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Sep 19 2007, 10:26 AM
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QUOTE(hackwire @ Sep 18 2007, 11:35 PM) that didn't answer my question, buddy. u r implying that the rate is still under the commercial rate. r u dead sure when the bills come it does not use commercial rate? have you check with the developer? I didnt bother answering bcoz as per my previous post (2nd post in this thread), I've already stated it would be under commercial rate. |
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Pai
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Sep 20 2007, 01:32 PM
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QUOTE(-=KK=- @ Sep 20 2007, 08:26 AM) Sound like very difficulty for me to own a property on commerce land. Too many problem need to bear in mind. no doubt its better to go for residential-land properties, but at the end of the day, it depends on one's investment goal. You can find very good bargains in some service apartments, plus some are excellently located, nearby city center & public transportation. Example : Bought a service apartment studio in May for 160k. Today, monthly rental is about 1.4k p/m and selling price is about 200k +-. Am sitting on paper profit of 40k(if i decided to sell), and gross rental yield is above 10% p/a. Now, do i mind paying slightly more for quit rent on service apartments ? Yes (water + elec are paid by my tenant ) Will I buy another service apartment in the future despite having to pay more? Hell yeah, if I could find another bargain deal just like above. Bottomline, the benefit far outweights the downside |
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Pai
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Sep 21 2007, 10:03 AM
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QUOTE(kenji1903 @ Sep 20 2007, 11:53 PM) not many studio apartments under that price range and newly built... let me guess... Ritz@Damansara Perdana? Nope, its in KL city center on a sidenote, earlier buyers of Ritz are laughing their way to the bank now, with capital gains is currently hovering at circa 40% which means their ROI after 4 years is minimum at 200% or 50% p/a anum. Not bad huh |
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Pai
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Sep 21 2007, 12:21 PM
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QUOTE(kenji1903 @ Sep 21 2007, 10:51 AM) the first thing that came into my mind was Viva Residence, Jln Ipoh... but its residential... KLCC would be way out of that price... i'll look again interesting... what about the other condos around, Armanee Terrace, etc? what about the ones in SS2, Casa, Ken, Ameera, upcoming Casa Suites and Tropics? any views, sifu? im no sifulah, just learning and sharing here, just like u. And its not Viva, and I wont categorize Viva as city center condo's lah so u r looking for a condo to buy? so why not u start by letting us know what would be your investment goal 1st? That way we can all make our reccomendations n thoughts p/s : u can PM me if u wanna know the S.Apartment name. Dont really like the idea of publishing my property adress in a high traffic public forum. |
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