Below are the points how I see Setia Walk in the coming years, I could be wrong but time will tell : ( as at 6 April 2012 )

(1) Shop ( grd floor ) : Rental range average from 8K to 11K. Branded tenants already snap up 80% of the units and business there will start well because all these tenants were invited by developer since the project was launched in 2008, that was the promised to the buyers. The quenstion is how long all these newly open business/shops will last, my prediction is at least 50% of these shop will last not more than 9 months from it 1st day operation. Highly due to insufficient customers, high rental and inconviniece entrance from LDP. Also partly construction is still ongoing.

(2)Shop office ( 1st flr to top ) : Base on the history of progress in this Puchong area, provided the project is considered successful. Approx 50% of these empty units will be occupied in another 2-3 years ( means 2014/15), another 10 to 20% by 2016. From there onwards, it could stay at 70% occupancy rate for another 3 to 5 years. 100% occupancy rate, I do not think this will happen. The lift exit area for each floor is facing staircase and share by both left and right unit. Lack of luxury feeling and privacy. Ceiling height ( 2nd floor onwards ) are too low.

(3) Service apartment : All the units were offered at the price range of RM 300K to 350K with the buying option using 5/95 scheme by developer with extremely attractive loan interest rate at that time. Current subsale asking price around 500K to 550K without 5/95 scheme, higher loan interest now. Just wonder how many will buy unit here without 5/95 ( subsale) and loaded with extra RM 150K to 200K to its price. All these are commercial title, means the minimum water bill per month is RM 36.00, TNB is RM 7.20 and stay at the flat rate of RM0.43/KW compare the nearby apartment with residential title Water = could be Zero and TNB rate from RM 0.218/kw.

How many will rent the unit there : the possible demand are expatriates. However there are not many expatriates in Puchong, only a lot of foreigners (Myanmar, Pakistanish, Bangadeshi, Indonesian etc ). To rent out any unit, first the unit must at least semi furnished ( at least RM 15K ) for renovation, this is also the time the 1st installment starts.
Units facing LDP will get some noise either from LDP or the pubs.
Base on the current routing/road system at Setia Walk, the chances for any motorist to miss the turn from LDP for Setia Walk seem very high. Most of them only realize when passing the area which is already too late. For motorist came from the other direction, just need to take the U turn infront of the HONG Leong Bank ( previous EON bank) before coming to a main junction which yet to be opened since the traffic from Wawasan is not stop, can this road system work still a big question mark.
For those who successfully enter the area, you will find the road is very narrow and the exit to the LDP is even narower, just yet to be opened. Check on the underground car park, it seem not so easy to find your exit.

Overall environment in the grd flor center is cozy and comfortable if less than 100 people, anything more than this is crowded feeling since high amount of floor space was taken for water pond/plants and unpractical landscaping.

I could misjudge on this project, but I am sure I will not be all wrong unless some of the factors mentioned change and improved.

I am just a surveyor/investor, just my initial finding after visiting this place.

[attachmentid=2998223]Base on the factors :
* upcoming LRT station
* upcoming project by irDKgroup beside SW - projected RM 600/sqft for apartment
* the amount of effort and money spent by SPS for A&P activities in SW
* the VP & hand over of units to apartment owners
* prime location
* The current inflation rate in Malaysia
* The progress of transforming Malaysia to high income group, ; means high spenders in return

The prices of the apartment ( SOLACE, Vio, etc.. ) to hit RM 600/sqft in another 6 to 12 months seem not impossible. Owners will like it and Buyer will not. Whether you like it or not, this is the trend.


p/s : I do not own any unit nor intend to get one. Just my recent observation. Another triangle in the making









Ops, wrong pic selected. should be right now.

This post has been edited by NameWai: Aug 13 2012, 01:43 PM

more hand over of vp.

This post has been edited by NameWai: Sep 2 2012, 01:31 AM