Sunday, June 29, 2014

Pandan Perdana Lake Project

Sunday, June 15, 2014

MRCB 9 Seputeh

MRCB have their grand launch this weekend, opening up remaining of block C, D + SOHO and New Block A.

They have launched this property since many months ago for Block C and D + SOHO. Up to today, still not yet fully sold. However sales is not bad, about 70% sold. Comparing other projects in market currently, is consider ok.

Overall I like their concept and development, compare to nearby UOA South Bank project. They have more complete plan, from Residential, SOHO, Commercial, New Access to NPE Highway, and Proposed Monorail. If they able to execute this, it will bring more value to this property.

Current selling price is around RM750 to RM850 psf after discount. Overall SOHO is smaller unit without car parks. Residential is bigger unit with 1 car parks for 1000sf below, and 2 car parks for >1000sf.

Base on overall development plan, there will be a lot of Residential condo. This make SOHO look attractive especially with lower entry price.

I can see still quite a number of buyer purchasing this property. Sometimes I keep wonder, where do they get money from? I see some 40 - 50 plus years old family buying few units. From conversation they are buying it for investment. How can they have so much cash flow and able to afford 30% down payment? Even the cheapest unit RM360,000 (after discount) also require almost RM100k down payment!

One obvious symptom I can see now is you won't see super crowd like past few years where usually project will almost sold out during soft launch (way before official launch). It seem like market have show sign the that supply > demand. Despite the fact that housing price is still keep increasing eventhough the perks nowaday is way too little compare to last time, especially the removal of DIBS scheme.

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Sunday, June 8, 2014

Development surrounding seksyen 13 Petaling Jaya

Recently I saw many launch in this area. Pacific Star near Jaya One, PJ Midtown and D'Vougue near Nissan showroom.

All are selling at sky high price. Or maybe is because I still stop at old pricing. I still cannot accept the fact paying RM800 psf and onwards for a leasehold commercial condo.

PJ Midtown is join development between few prominent developers (Sime, IOI, Brunsfields). Pacific Star and D'Vougue is by new incumbent, who just recently delivered their maiden project (Pacific Place at Ara Damansara and CentreStage at Seksyen 13).

Personally I like PJ Midtown project more than others. The only thing I don't like is too many taiko on same plate, not sure how they compromise with each other when all are equally big.

I quite impress with the quality of work by Pacific Place, or I should say their final product is on par (maybe better) than many big player in industry.

Among all, only D'Vougue come out with creative scheme. Which could be good for those who want to enter the market.

Still, I cannot accept the fact to pay RM500k for a 1 room condo. The price range is way behind a reasonable working salary. Maybe you need a couple to work together only able to pay the monthly installment for a 1 room condo.

If this is the trend, either people will continue rent instead of buy, or our government do something to help increase the salary of the working people in Malaysia.

Recently I saw a survey about income vs expense at MauKerja Job Recruitment website. Majority of the workers say that their income is not enough to cover the expenses. Means they are living on credit. If this is a problem to majority of Malaysia, then property buying is only open to those "rich people" very very soon.