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Financial Wise to dump RM900k on 1st property? Condo
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autodriver
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Oct 26 2023, 08:22 AM
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If you have cash on hand you have plenty of choice. with 900k budget can go straight for landed house. Landed house can hold the value and appreciate while nowadays most condo if not all are not wise to invest anymore.
If condo 1200sqf price around 500k-600k for own stay still okay but if for investment not worth. Some people said can rent the unit out and get return like RM 2k monthly. Yes, at first 10 years maybe can get RM2k rental monthly if lucky, but when condo is getting old the rental can't go up or worse it might get lower. There must be new condo built around the area and people may want to rent a newer unit with similar price. This had happened around Wangsa Maju where the old PV rental drop and getting more and more vacant unit due to more and more new condo built. Supply more than demand.
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autodriver
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Oct 26 2023, 09:59 AM
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QUOTE(bigman @ Oct 26 2023, 08:51 AM) True and not true... Condo still a better choice to invest but need to very picky and choose wisely... landed need to have very strong holding power before can monetarized your investment... both is right depend on your financial, commitment and investment appetite... good property can hold value plus generate good rental income... now very difficult to find... but still available in market... it very seldom appear in this lowyat forum la... Invest in property is not a good choice like 2000 - 2015. Even the property price in Desa Park City is stagnent. My friend now stay in WS2 and S&P price is almost RM1m. He is planning to sell for some years at RM 1.2m but till now still no news. In ipropxrty many unit listed as RM 1.2m but in real world people hardly pay more than RM1.1m to buy it. My friend was renting to foreigner when the WS2 VP at RM 3k. After 2 years tenant left and unable to find a new tenant, by then he move in. The monthly instalment is about RM4k and maintenance is maybe around RM 400. In year 2015 I almost bought a unit in Koi Prima puchong 1055sqf at RM550k (before 10% discount) and now the 2nd market price is RM 350k only and negotiable. I got few friends bought condo in Puchong, Bukit Jalil, and Kepong around year 2013 - 2018. None of them able to make profit for the high rise property from S&P price if they sell it out now. Plus nowadays new condo projects are offering 2 carparks and free almost all kind of fees, the 2nd market is getting tougher.
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autodriver
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Oct 26 2023, 10:12 AM
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QUOTE(redondo88 @ Oct 26 2023, 09:14 AM) Condo price wont appreciate is just a myth (especially in KL area). Actual case: A 30 year old medium low cost leasehold apartment in Cheras (69 years lease left) now valued 250-300k. Original SNP price around 60k. And this is not just for 1 apartment, this is common around Cheras area. And these apartments current rental rate is RM1200-1500 (750sqft, no balcony, NACO window) with plenty of new condos built around. It is not wise to compare 30 years old property. My parents bought a double storey 20x70 house in selayang at RM 90k in early 90s. The house sold in RM 270k in 1998 and the current market value is RM 600k. My friend's parents bought a condo in Kepong nearby desa park at RM 150k in year 2007 and the market price now is RM 400k. In the past condo or landed houses were cheap and affordable. But in late 2000 till 2015 the property price shoot up high, around 2016 or 2017 property price start falling until now. Look at the condo sold in 2015 at Cyberjaya, Kepong, Cheras, Wangsa Maju, Puchong, Sungai Buloh. Most if not all of these property price 2nd value now is cheaper than S&P price.
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autodriver
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Oct 26 2023, 06:38 PM
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QUOTE(rumahwip @ Oct 26 2023, 05:43 PM) Westside Two
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