Hi lwb, what's your opinion on the 20-30 years old 2 stories semi-d at Green Lane that are now selling above 600k? The one I visited before is facing T junction some more, with timber flooring for both floors (it's not of decorative timber, the 1st floor do not have cement or concrete). In Penang island, the price not only come from the building structure. It actually came from the land. You see, Penang island is too small, every outskirt area will eventually turn into township due to limited land for development. So I think you may not be able to apply what you understand from mainland in Penang.

This post has been edited by Interrupt: Jul 13 2009, 03:28 PM

anyone know the projecy near mahsing launched by lipsin?
can buy?

let's put returns aside and factor in the risk/cost involved.. then you decide.
yes, i may not be an islander per se.. i've both read and lived long to see;

demographic shift,
economic depression,
zoning law changes,
local authorities/municipals influences,
major catastrophe(e.g most of the places that i mentioned earlier have terrain elevation of no more than 20m),
.. and lots more, of course, these are macro issue.

here're some micro issues to consider; for a 20-30 year old property..
structural integrity such as roofing,
piling/structural(any upcoming highrise within 2km radius?)
plumbing,
wiring,
asbestos based materials which might've been use previously,
termites infestation,
who're your neighbors?
.. and lots more.

prepare about one-third (God forbid.. half!) of the purchase cost on fixing local, micro issues. most likely you'll be tied to a bank loan.. consider the double-up effect.. 600k becomes 1.2mil at the end of your loan tenure (this excludes all the risks/cost stated earlier).

and this is just for you to break even..

now.. another dude willingly take up this semi-d from you for 1.2mil and with a loan to boot.. put in the double-up effect again.. and that'll be 2.4mil..

my question is.. how many dude(s) will it takes before the entire charade thinks it's out of whack and re-price the entire semi-d back to.. say, 300k?

i've personally seen some properties at ayer itam and pulau tikus that have the entire floor on wood based flooring (it means the ground level ceiling is wood).. this style has its historical background in old properties (even at other states such as melaka, seremban, ipoh.. same styling still stands today).. the wood used are strong, not like those used in american sub-urban housing constructions.. which creeky noise can be made while walking over it (even if it's carpeted)..


This post has been edited by lwb: Jul 13 2009, 05:00 PM

Interrupt,
thanks for info.


yea, if plan to take long bank loan, property investment not going to make u rich...but still can make profit if can rent it out.

i dont think penang landed property will drop or reprice like what u mentioned 300k.

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Added on July 13, 2009, 8:07 pmbayswater rm600 for 1600sqf is too over in penang. somemore it's only mid-highend condo...

abt security, there's only one door for us to take care in condo, just custom made a thick stainless steel door and put more lock will do...dont be lazy. thief will runaway since there's still many units to choose from.

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Added on July 13, 2009, 8:13 pmi've visited there too. u gotta spend alot if u want to stay there! estimated >300k for renovation...

This post has been edited by genkis3: Jul 13 2009, 08:13 PM

U are refering to Taman Sri Mewah Indah?
My friend was interested in purchasing that

saw some * unpleasant activities such as mat rempit and bike racing when he was touring
straight away said no

As far as I knew, Bayswater maintenance fee is Rm0.15 per sq feet based on lastest/last time I knew.

no kidding?!? 15cent/sqf? that's like some perkeliling flats in jln pahang roundabout!!
sure bo?

This post has been edited by lwb: Jul 14 2009, 05:14 PM

Reka Indah Development is launching thier condo today
Boulevard in Air Itam

Yes, at least sure for the lastest or last time I updated time, about 2xx for 1600 sq feet one, but you need to take in account, Bayswater has 2 tower compared to most condo has 1 tower which all common facilities are shared by 2 tower, so there are more units contributing the maintenance fund, so it able to sustain itself. If one tower, it means 30 cents/sq feet.

I don't know about others, but mostly I knew about Penang area is that maintenance fee, any above 20 cents/sq feet is considered mid high level already.

Heh all, anyone can share which area of condo worth to invest for rental
income ? So far I observe for Batu Uban area where high potential for
USM student and Bayan Lepas worker.

Any other area with good rental ?

kamsiah.. a new insight to me. may i know about the local taxes(cukai taksiran) in greater georgetown area?.. dbkl levied my unit at rm1,260 annum.. so much more expensive as compared to a pj(mbpj) unit, which is half of that.

yes

what a waste i could not get a unit there... the front row all fully sold off... i was too late...
now left to consider southbay ... maybe will looks at other development nearby

Taman Seri Mewah, only one unit left

only one unit?
i thought the back row still got a few left

why is it a hot cake? anyone know?

wish to buy double storey terrace at centro park near tambun, please check on the link below, any comment on that place?
http://esweb.my/syscms/link/centrohill/ind...play=3&i_page=0

hong0228 : how muchi ? the design look nice !! 1st floor is larger than ground floor ~ fully utilize the space~

would like to ask beside baystar condo @ penang (queensbay)

another other condos/similar projects near queensbay?

really seem to like the area there....

kindly advise ya...

TQ

http://www.queensbay.com.my/exp_baystar_summary.php

This post has been edited by littlediana: Jul 26 2009, 12:58 AM

near queensbay so far there are only..

Baystar,Baygarden,Putra Place, Putra Marine,Gold Coast, Villa Emas, D'Residence. Bay Villa will be built later on in front of Baystar.

The bumi units for Baystar has been released, but from a recent inquiry from CP, the price increased about 10-20%. So you're looking at 600k ++ minimum.

Head over to our Queensbay forum at http://queensbay.invisionplus.net for more information

Hi, I am currently looking for contractor contacts to reno my new house (pg), anyone has good recommendation? I can get many from yellow pages, but I prefer ones that you guys have good experience with. Thanks.