Time to write something about this property since this property is hot topic these two days.
There are many launches recently, Leafz, Arte, Mandarina and etc... I didn't really pay much attention to those launches actually since the price is beyond my acceptable range, until UOA launch this Le Yuan project.
Before going to the UOA office, I saw the signboard - Le Yuan. I thought it is new Chinese Restaurant, I am thinking maybe should try see how's the Dim Sum like. Opsss...until I go inside their office I found out that this is the condominium name. Wa Lau, why UOA use such "china" name??? Really want to interview UOA director if got chance...
Address wise, I still confuse this area is under OUG or Kuchai or Happy Garden or Sri Petaling? After clarify with UOA, they claim that the addresss is Sri Petaling address. Ok, whichever area it belong to also doesn't matter as there isn't much different in term of branding among those areas.
Location wise, I think is ok, as there are few access roads link to this place. You can go from Kuchai Lama or from OUG main road towards Sri Petaling, or MEX Highway. Too bad there isn't any LRT station within walking distance, means you must drive in/out and bear with the traffic within Kuchai/OUG area.
Price wise. not cheap, maybe UOA see market still crazy about property investment and maybe also cost of land & development have increase over the year. However, if compare to others projects, the price are not that expensive though. Most of the units is medium size unit, range from 1400 - 1700+-. Only limited 1100 units available (<5%). In contrast, most units at Seringin Residence are large unit range from 1700 - 2400sf+-.
In summary, 1400 sf+- unit is selling at rm600k+- after discount, while 1700 sf +-unit is selling at around rm750k+-. this translate to around rm410-rm450psf. Guess that is the main factor attracting many people come to this launch.
Looking at the layout and size, quite obvious the target market for this property is family, which suitable for family that have 3-6 people to stay. While looking at the location of this property, the target rental market for this property is local chinese. It means, this property is not really an attractive investment if you plan to buy to let. It is more suitable to buy for own stay instead, mainly because it is quite hard to find local chinese that willing to pay RM3k per month to rent a condo.
Since is buy from own stay, then facing, floor level, and surrounding become very important factor. 1100-1500 sf units are facing MEX highway (quite near actually), while 1600sf onwards units are facing Swimming Pool/Desa Gembira condo/West. Obviously the better choice is swimming pool facing since this is their main point - 3.5 acres of resort style recreation facilities.
Friday, November 18, 2011
Thursday, November 17, 2011
Tuesday, November 1, 2011
Capital values for residential units would see some increases in 2012, but at slower rates compared with the past 18 months.
“Asking rents at most top buildings in the city centre are within the RM6 to RM10 per sq ft per month range, with only a few select buildings, such as Petronas Tower 2 and Maxis Tower, achieving monthly rents of RM10 per sq ft and above,” said the report.
Boyd said recent average transaction prices of Grade A office space generally range between RM800 and RM900 per sq ft. “But there are higher prices than these being achieved in the market. We have recently seen prices of RM1,100 sq ft or more in Kuala Lumpur Sentral and SP Setia Bhd's KL Eco City.”
Soo estimated that by 2014, the Klang Valley will have 53 million sq ft of retail space in 149 malls and hypermarkets.
However, Soo pointed out that only about 43 shopping centres and hypermarkets out of the existing 133 (or 30%) were performing well.
If you are looking for landed property, maybe is time to look "outside" those hotspot area....e.g. Sungai Buloh :)