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 Penang Property Talk, Property talk on Penang

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Thasmita
post Nov 7 2022, 09:59 PM

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QUOTE(xaxier @ Sep 18 2022, 01:55 AM)
Guys,

I am torn between two properties
1) Straits Residence
2) Incoming Marriott Residence

Both have it + and - but for straits residence, I really like the finished product and workmanship as I am able to see the actual unit since it is a completed projects. It really looks luxury and even the lobby and hallway looks good and the old colonial design is a +, blend in really well with straits quay. The furniture and fitting given by KP really good compare to a lot other developers, basically move in condition without the need to do anything at all.  I don't mind to take it for my own stay as well or can easily rent it out also as I think there will be expats interested in this especially with the new international school coming up next door. The only drawback is that the facility kinda lacking behind most luxury condos, heck even some mid-tier facility is better than this.

For Marriott residence, its location is good as it is just in front of gurney wharf and bearing the name of Marriott which itself speak a lot about the exclusiveness and luxuries it brings along. For the quality and finishing, I have no idea yet as I can't judge as it will only complete next year but I do believe BSG should be fine and Marriott will make sure BSG able to deliver as this project carries their  brand name. Again, this will be for pure investment as the sqft is abit small for my own stay.

Both gross rental yield should be about 4% to 4.5%
What do you guys think?
*
Are you sure 4% nett returns ?

Looking at adverts - studio unit rental is circa rm 2.8k per month.

Nett after deducting management expenses( maintenance, insurance, assessment) will be circa rm 2.5k per month.

That’s 30k per year on an investment of RM 900k. Roughly 3.3% returns at best.

This post has been edited by Thasmita: Nov 7 2022, 10:00 PM

 

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