1.u want to buy and built for youjr own stay or buy build and sell? But putrajaya is hardly the place to build and sell a bungalow. but of course land prices there are cheap. again many factors come into play. Make your question more informative about what you want maybe i can give my opinion then.

ooo0o0o0 anyway love the idea. That's going to be my first project. buy bungalow land about 1 acre and build townhouses. Eying three pieces of land 1 in bangsar, 1 in old klang road and one in country heights rawang. Fast simple, small GDV small start up and also can put alot of my fancy ideas into work. all full steel structured. floor to ceiling glass paneling. then buy actual rainforest fully grown trees and plant around the place. o0o0o0o0 then hopefully can get achitectural recognition for that, then move to singapore and build modular offices sell it to some creative business in singapore. Get recognition for that then buiild a self contained mega city... muahahah ... tan sri RE!!

Yes there are but i leave all the number crunching to a few of my friends. But of course i share my comm with them la. Then along the way i learn abit here and there lor. Again when u say what is viable for corporate customer you need to know the customer only then u will know what is viable for them. question number 2 is to broad. For developers or maybe for a corporate client wanting to use for a certain number of years then maybe develop then. They all have different backgrounds thus have different needs and want different things.

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Added on June 16, 2008, 4:21 pmI guess your of a more mature age more realistic. For me still young want to take risks and make it big. Hopefully i do soon before my fire dies out. Everyday i still dream about my first project.

ok la .. i on you .... happy ending i pay.

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Added on June 16, 2008, 4:23 pmthanks for the heads up bro.

This post has been edited by looqsonline: Jun 16 2008, 04:23 PM

yeah, thanks joe_mamak for providing the link.

that's the one, the project's name is subang SOHO.

titijaya is the developer, and honestly though i haven't heard much about them, but the two of the developments near subang parade are from this developer, tiaraville and e-tiara (i think). tiaraville just completed and ready to collect keys in the coming couple of months, e-tiara i think was completed some time ago since subang SOHO's show unit is there.

from what i see of tiaraville the project's quite good and well received, and now subsale units have skyrocketed to 290k from 230k when they launched. how true are the current pricetags i haven't made any thorough research yet. but this development is quite close to the ktm, as is subang SOHO.

subang SOHO is slightly further from subang parade, and frankly speaking not very accessible by public transports.

2.on commercial title, rates utilities more expensive. but the freehold sounds good. but 400++ psf a bit ex.

3.soho units not many families will buy at 685 sft further more to many units on a 1.6acre land highly dense project. parking might be a problem. also visitor parking also can be a headache.

4.majority of soho that succeed are around major commercial centres and also places where the number of yuppys or english speaking white collared young people like to stay is elsewhere in places more expensive places like bangsar kl area etc etc.

oh if it is titijaya then ok la the developer quite reputable not the best but just right in the middle. and i think they are quite new less then 10 years in the market.

6.by the time it delivers in 2011 there might be alot of uncertainties then.

good points are that nearby ktm within established housing area. KL access through NPE but have to pay many many toll laa... and also close by sunway ... but might face alot of jam on road heading infront opf sunway. but access to federal highway very good.

HHMMM i think moderate buy ler for many reasons. unit to small ler ... resale might be harder. but should be ok for rental since nearby colleges but then might not get as good rental maybe only can cover 50 - 70% if installment 1,800 for a 300,000 unit, maybe can rent out for 800 to 1,000 because unit small? and then many students won't want to stay because 1 person rent (unless they creative enough or u creative enough make a lofted room so 2 people can stay.) 800 - 1,000 a bit ex. i say worse rental is at RM1 psf best is RM1.80 psf

but i have toi let you know this is off the top of my head. I don't know the area well and have not seen where exactly isit located. also i don;'t like to buy non landed from unkown developers. i'mjust very scared management might be lousy at the end of the day. how much are the surrounding properties worth?

if it is titijaya ok lar they quite reputable mid sized developer. but been less then 10 yrs in the market. also you should get an agent friend to check previously transacted subsale prices for you. see if got any from the project or not

This post has been edited by looqsonline: Jun 16 2008, 05:03 PM

Thanks for the quick reply, future tan sri !!!

A bit of background.

Land cannot sell for the next 20 years. So its going to be rental first, but ultimately sell later.
Its a 6000 sqft lot at Precint 11. Can get for about good price. Did some homework, construction costs/architect etc. about 800 - 900 k. Got enough capital to cover about 65% of the cost only. The rest to finance with the bank.

Basically, if I want to break even / get higher return than say put the money is FD, die-die must sell for 1.8 million. With all this recession and construction costs going up and up, think my budget a bit streched la..

Think its worth it? Whats the market like in Putrajaya? Heard rental / capital appreciate moderate only - because gomen staff got special deal for rental etc... and hardly any corporate demand there..

For question 2) yup, its a bit broad... is there a standard-ish calculations done?? Some rule of thumb for corporate maybe.. something like ROI but > x% after xyz years etc.

oh my god i don';t think iw ant to reply you laiw lar ... u are another ambitious developer .. dammit you are going to develop and inflate all the land prices for me la .... and what do u mean by land cannot sell for 20 years?

hmm 6,000 sf? mmm kinda small ... but assume u buy at 83psf or RM500,000 let's say you build a 3500 sf building at 250psf er cost all in about 1398,000. you finance 65% and the interest cost for 45% or 360,000 of construction cost is another 360,000 for the next assume 30 years. so . everything in plus holding cost already roughly 1.75 m plus 4% perannum compounded interest for cash lost to land 500,000 and lost to construction 585,000 equals 1m est. so 4% for next 25 years compounded ... 2.665m ... so you need to sell at least 4m at the end of the day... estimate. after 25 years.

so u need to rent out at about 2,000 to pay for bank install ment for 25 years and hope that capital app can get back your money at very minimal profit. not really worth the while ... there are other better options for your 1 million

all based on assumptions ....

er i can let u know one thing la . based on residential projects .. profit between 11-25% on GDV ... initial cost ... 10-15% of GDV ... usually 60 - 70% not losing or making money meaning by the time hit the previously mention figure can go full swing finish project to offset holding cost if any. So very subjective but basic rule of thumb. The real money is commercial prop at up to 48% profit on GDV.

This post has been edited by looqsonline: Jun 16 2008, 05:33 PM

i was pretty afraid that for the price per sqft it's a bit too high too. reading elsewhere that you can get landed properties in subang for rm250 per sqft, free or leasehold i have no idea.

but thanks for your insights regarding the probably rental yield in the future, i was perhaps a bit optimistic that the rental may be able to fetch 1.5k, but considering that more than 300 units of studio it's going to be quite competitive in the market anyway.

besides, i have some doubts regarding the procedures and documentations on this project. was reading another forum a guy mentioned that his booking fee got refunded because he insisted on using his own lawyer for SPA. apparently every purchaser must use the developer's appointed lawyers, there are suggestions that maybe the SPA has some clauses which are highly in favour for the developer. anyone else had this kind of problem before?

hey seriously try tiaraville ... i think it's good and within your budget

1. any NEW or EXISTING properties near LRT stations within a budget of 200K?

2. do u think the condo/apartment near the curve area wil b a gud choice for own stay n oso investment?

3. do u think housing estate at pinggiran USJ a gud choice for own stay n oso investment?

kindly advise.. thx..

yes, the sales agents recommended too, but still too early to digest after coming back from mapex, will need some time to research the area.

i just browsed through lyn's properties thread and found that there are some monash students renting a 3-room 880sqft unit at tiaraville, and guess what's the rental?

rm2400 per month!

no idea on the unit price currently though, will scout for more details when i have the time... from the outside i must say tiaraville has impressed me, but have yet to view anything from the inside.

heheheh ./.. moneylust bought one unit there. he made me realise how tiaraville is a good investment .. gonna start a new post .. and grade tiaraville as rental A- and capital app as B++

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Added on June 16, 2008, 7:40 pmu signed up and paid money already? u pm me your name and ic number i call her and see if she can squeeze for you or not ... then i can squeeze her half ball

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Added on June 16, 2008, 7:42 pmeh bugger you .. monash students renting for 2,400 ler ... can cover your installment plus extra in the pocket every month ler ... so put time put place we go massage happy ending i pay myself

This post has been edited by looqsonline: Jun 16 2008, 07:42 PM

hehe.. that's what i thought also la... too much hassle for minimum profit and mucho risk.. plus got my day job to do also.. the land my father in law's one.. want to sell to me.... say good appreciation la, infrastructure good la....

great info looqs !! Appreciate it!!

PS: the land cannot sell for the next 20 years thing is a clause in the deal ... from Putrajaya Holdings one..

since you are a property agent do you have any listing for completed property close to lrt and have easy access to KL - putrajaya highway? is it a good time to be buying property in the next few month?

well if you really have 1 million, and don't mind going into agriculture, go have a look at jatropha

huh? ur father in law quite funny la .. if cannot sell for next 20 years .. how to do a MOT to you? and then could it be that the land title has not transfered to your father in law yet? i mean he maybe your father in law... but father in laws just aren't as good as your own father.

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Added on June 16, 2008, 9:32 pmhuh? from sibu? hoo chiu neng ah ? ngui ya li le ... i'm foochow from kuching. er i don't really do completed properties. but lrt close excess to kl putrajaya highqway? u work in putra jaya? it won't be the right time to buy in the next 1-1.5 years .. but just don't buy from developers buy subsale units there are lots of bargains out there now . but which area are u interested in? near lrt and kl - putrajay highway abit hard to find ... maybe taman desanear midvalley ktm or bangsar near bangsar lrt and pantai lrt or maybe pantai hill park? not very near kl putrajay highway but only 10mins away car or old klang road near ktm. Anyway pantai hilklpark is a place to keep an eye on after the suqatter cleared

This post has been edited by looqsonline: Jun 16 2008, 09:32 PM

Eh, wait until I finish furnishing my unit ler - about 4 months from now. Must celebrate by going to a high end place, ok? I could really use a massage to sooth away all the tension.

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Added on June 16, 2008, 10:24 pmI sure hope my lawyer doesn't mess up the purchase ... otherwise I have to compete with LYF members for a replacement unit

Agree with Doc RE that Titijaya is a pretty decent developer. The owners are generally satisfied with their units. (but then I'm vested )

For a view of the inside, see the pictures in this ad:

http://www.iproperty.com.my/property/listi...id=142324&nav=t

The real estate negotiator - Madeline - knows how to market the unit. She took good, clear pics and highlighted all the unit's strengths in the "remarks" section.

This post has been edited by Moneylust: Jun 16 2008, 10:24 PM

eh call me up at 0198276007 if you want to find someone to do your house for cheap but you have to supervise yourself la ... All my dad;s friends ex or existing workers. They did my dad's house in bukit damansara. Anyway got electrician got carpenter. i think 2 of the important people in reno also got some myanmarese for labor. Anyway you will save alot moree if you supervise yourself of coujrse more time consuming la... heheh reno is the most fun part yet the most painful everything paid in cash. sigh ...

heheh i got a feeling this madeline is an aunty ...

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Added on June 16, 2008, 10:43 pmanyway you all should meet my friend stanley. a guy from miri but stayed in kl more then 10 years. he built up his portfolio within 5 years from a 250k house to right now he got about 10million in property. wanted to buy down a shoplot in bukit bintang for 6 million from me last year to convert to a budget hotel. went withhim to public bank and followed up with his loan with him. The manager at his branch said upper management sees his application as very likely for a RM12 million business loan because his portfolio is so big and that he only owes 50% of the 10,000,000 owed to public bank and his ccriss is very very nice everymonth 0 but my f***er seller backed out at the last moment so it didn;'t go through. so he went to plan B and bought solaris for 5m signed spa then seller backed out and my friend got paid compensation not sure how much but should be within 6 figures or more. Haven't seen him in a while but heard he just tendered for gov project.

He is the true prop investor ... kiam siap everyday do nothing but look for property and dam good at negotiating will even get RE agent to bring owner out. And best he don;'t care one .... he will scold you he will screw you to get what he wants his best line is " i don't want i just don't want i can afford to not want you want mybusiness you give me what i want." dam kau lansi

This post has been edited by looqsonline: Jun 16 2008, 10:43 PM

How about area like sri petaling, bukit jalil and OUG? i am working in cyberjaya.

@Moneylust,

you're purchasing now after completion? from the news i get from titijaya's sales agents, the price are quite hiked up already, but still a good deal nonetheless considering the rental yield you may be getting.

the owners who bought during construction must be laughing mad to the bank. darn. but considering yourself to be so secretive i'm sure you're getting quite a good deal on this one you're negotiating. we better discuss through elsewhere so we don't draw more attention to the project...

do you see a slow down in the number of transaction in the market due to increasing cost of living? is it true that in the first quater some area property price have dropped. But reading on the statistic by bank negara, the number of housing loan still keep on increasing as of April 2008.

http://www.bnm.gov.my/files/publication/ms...8/4/pdf/1.6.pdf

premium houses are dropping..and more ppl look at med or low cost property now..

well this is my take on the thing but correct me if i am wrong people.

in Klantg valley the reserruction of the building and construction industry started in late 2000 where mkland announced the biggest single private RE contstruction development in the history of klang valley if not malaysia in the surrounding areas of one utama and the curve. Then a year later puchong started becoming aggrasive as well. This was when the boom started. Citibank came into the market and got aggrasive hiring executive staffs and aggrasively pushed retial banking. alot of loans in the one u area belong to citibank. other developers started seeing that middle to lower income market was good money so they followed suit. soon many other new suburbs starting sprouting out. other banks followed suit and then the housing loan market got very agrrasive and BLR was the lowest in malaysian history. Because of cheap and accesible ccredit many middle lower income people started buying. whereas many business people concentrated their money in business and that created alot of jobs. 2000-2003 was considered the start of the boom then 2004 things started to plato out. So the middle to lower income market got empowered by this.

then in 2003 stonor park was completed the first klcc project selling at 600psf considered extremely expensive then. people went wah if only they knew the oprice 5 years later. because alot of developers got flushed wiothj funds from projects catering to middle to lower income groups and also an announcement in 2005 to relax foreign ownership regulations and also to lower RPGT, many developers starting aiming for more expensive projects 700k and above. But in 2005 things started platoing out many rich people startted in vesting in stocks again as there is a time lag and many financial regulations were relaxed for foreign and also capital and BNM rulings were relaxed pre mahatirs 97 poolicies.

then in 2005 because of rising oil prices, many middle eastern people suddenly got flushed with cash as well so they want to invest in a foreign succesful muslim country,. they came to malaysia and also it is the most strategivc for them to deal with countries like china.

Then in 2007 when they relaxed the foreign ownership rules, alot of middle eastern people started buying here

right now high end properties are fairing better then lower end properties. those 700k above are still ok .. but properties 700k and below are doing terribly. properties 200k and below are doing the worst. Of course i am talking about landed. Non-landed ios fairing better then landed because of the location they are built. you can buy a 300k house which is very far away or live in a condo 300k as well but nearer. Anyway people are starting to really accept the idea of non-landed living. Also middle to lower income people are dying because of their bank loans and rising prices. Aggresive marketing and competitive rates made money really accesivle to people and they just kept borrowing and kept buying. Now alot of them are suffocating and soon you will see them burst. Ask yourself how much money do you or the people you know put to loans nowadays? i am 26 and i have 2 houses and a car to pay .. all in 4k a month . credit card is one of the biggest problems that's why bnm came in forced the banks to take only those with more then minimuim 1,500 salary i think minimum now is 1,800 if i am not wrong correct me please.

one very good example of why i say developers are really filthy rich now is because of the many extension in hotels and shopping centres. even companies like malton saw so much funds, they went on to develop projects like pavilion. Regardless of what people say, pavilion is 20% owned by malton and the rest a singapore company and the middle eastern people own a percentage of the singaporean company and then Kuwait finance house only bought a block of and financed part of the project.

well this part of the story conclusion prop700k and below over supply for subsale... prop 700k and above oversupply in rental. you do the maths lar .. anyway the rich have never been richer and they don't look at stocks anymore so you wont see over night bankruptcy. and business is still going on so they can afford not to rent further more the rich have learnt alot from over gearing themselves so they borrow less and try to settle the loan faster or they pay in cash.. anyway in 2006-2007 u'd be suprise but the biggest group of foreign buyers for the singaporean prop market were the malaysians previously indonesians buyt now malaysians. but the middle and lower income groups are constantly being hassled by banks to repay look around you and you will know. but the rich are still enjoying. ferrari sales have never been better.

also you say loans are going up, but alot of them are actually refinances and also there is growth but probalby not as rapid as the previous years.