Thursday, November 18, 2010

Setia Alam - Gloriosa (20 x 70 DSL) at RM588k

Requested to review this property. Launch this weekend, details as below

Size: 20 ft x 70 ft
Price: RM588,000
DIBS - Developer Bear Interest Scheme
Scheme: 5/95 (Mmm..only apply to those who have < 2 properties ?)

First impression, Setia Alam house nowadays no longer "cheap". In fact, I feel it is very expensive, so do Bandar Kinara. Not sure is good sign, or bad sign; as this year, lot of properties at "not so expensive" area suddenly become expensive.

DSL at Bandar Kinrara is selling at RM600k-RM700k. DSL at Setia Alam is also approaching RM600k. What will happen next year? Will it up another RM100k?

Imagine, how can a normal working individual, or couple can afford to buy house at RM700k? It will cost them RM3000 - RM4000 for monthly bank installment !!! Crazy, crazy, crazy....

For those looking for investment, they should be prepare to fork out at least RM2000 per month, just to pay the bank mortgage. The rental at this area probably will fetch only RM1000, means the investor need have spare cash every month to cover the monthly mortgage payment.

While for "cash rich" buyer, their only hope of return is capital appreciation. I not sure how much a DSL at Setia Alam will be able to sell next year, or next next year. But I know, the price at this area have almost increase 50% or more compare to those purchase it 3-4 years ago. While price at Setia Eco Park (high end) have almost double. Assume if it appreciate another 50% after 3 years, means a DSL is selling at RM882k in year 2013 !!!

Is this a good buy? Not sure actually, however I like Setia Alam township concept, if this is property is build with Gated and Guarded concept, maybe it be a better bet. Unless I am so cash rich, and not sure where to spend, and don't want to think so much, then just whack it lar, worse case, earn RM100k in 3 years time also not bad.....

No comments:

Post a Comment