UOA Le Yuan

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.

Design wise, typical standard UOA design, replicate of other UOA condo projects. This is another UOA weakness, lack of creativity. They work like factory, create a mold, and use same mold to build other projects. Please also note that the ceiling height is only 9ft 6", not as high as UOA Bangsar South project, but is acceptable though.

Another Project @ Happy Garden

http://www.uoa.com.my/spcondoregis/index.php

288 Residences @ Akisama Kuchai Lama

Another project from Akisama, but this time they target different segment, luxury.

This project will have 2 blocks, each block have 8 units, total 288 units. Good, finally Akisama launch low density projects, something different than what they used to do like Parklane OUG, Kuchai Avenue, Connaught Avenue.

Basically all 4 units facing East (Semi-D) are 1400sf++, while remaining 4 units facing West (G-Residence) are 1200sf++.

For 1200sf++ unit, are selling at RM450k++
For 1400sf++ unit, are selling at RM600k+-

This price including quite a number of freebies, like Kitchen Cabinet, Warddrobe, Air Conds, Heaters and etc. Quite similar like Parklane OUG project.

I guess Akisama dare to price at this range due to See Hoy Chan Seringin Residence project. These two projects indirectly make G-Residence look cheap ....

New Property Teory: Initially Project A is selling at high price, then subsequently Project B is selling at even higher price, this suddenly make project A look cheap :D

As for now, 1200sf++ unit is all sold out, those interested in 1400sf++ unit better act fast, if you think this worth buying.

Please note that Akisama is quite reputable developer, well known in building low-medium cost condo with quality finishing. re-wording: Question now is, are they capable to upgrade their previous skill and experience in property development to deliver luxury condo?? I leave this for your own thought, the answer will "come" 3 years later :)

New Project at Kuchai Lama

Received SMS below today:

Akisama have apartment units at Kuchai Lama wanted to sale in November. Location next to Desa Gembira Condo. Now booking RM20k, Free SPA & Loan Legal Fee, have 2 Car Parks, 3 units Air Cond, 3 Built In Warddrobe, 3 Water Heaters, Shower Screen for Bathroom, Built In Kitchen Cabinet, Free Maintenance Fee for 2 Years. 1438sf, have 288 units, price RM400psf.

http://www.akisama.com.my/index.php

Seringin Residences @ Happy Garden

After 6 months of waiting, finally the luxury condo by See Hoy Chan is soon open to public....name Seringin Residences, location right next to G Residence Condo, beside a proposed Chinese School.

Official Web Site: http://seringin.com.my/

Previous Posting: http://wickinv.blogspot.com/2010/12/happy-garden-see-hoy-chan.html

Some site visit photo:

Business @ Service Apartment

Nowadays lot of developer like to launch service apartment type of projects, whereby the property is build on commercial land and there will be shop or hypermarket operate at the ground or lower ground of the apartments.

Quite a numbers of people like this type of property as it is convenient for them to shop for household, buy lunch/dinner, send their kids to nursery and etc. Few examples are Kuchai Avenue, Park Lane, Scott SOHO, Empire City and etc....

Today, at the front page of a chinese newspaper reported a complain case about one of the service apartment, whereby people using it to do "special business". You may guess which apartment is this by looking at the photo below :)

http://www.chinapress.com.my/node/216579

Retaining Wall Fell @ Kuchai Lama

Saw this news in newspaper today, an mud retaining wall fell down after raining, and may cause by nearby construction work...wonder where exactly is this location...

http://www.chinapress.com.my/node/211557

Kuchai Avenue - The Magic of Kuchai

Kuchai Lama, the first impression I have is traffic jam, over crowded, small road serving many house and condo, complicated and etc. That is why I never turn on my radar in this area. However, my friend prove me wrong. Kuchai Avenue wake me up and I am watching this area closely now.


Brief Introduction:

- Friend of mine bought this service apartment 3 years ago, at price around RM170k for about 935 sf apartment.

- In early 2010, he sold it for RM245k, minus all cost, pocket in about RM45k.

- Today, June-2010, the apartment is selling at RM260k-EM280k in the market. Translated to about ~RM60k-RM80k for 3 years investment. Not bad at all ! In fact, is very good return for RM170k property , with entry cost about RM30k?

When I heard about it, I keep wondering what is so good about this project? How come it can fetch so good price? Isn't this apartment crowded (~600 units)?


Until I visited the apartment, I am quite impress with the quality of the work, done by the developer Akisama, not bad at all for a RM170k apartment. In fact, it is way better quality than other RM170k condo I saw before.


Kuchai Lama, heavily populated by Chinese, they just love this area. Easy place to find food, and near distance to KL, great access toad to major highway. In fact, it is ok even no LRT at this area.

Recent new launch project in Kuchai - Residensi Desa & G - Residence is already selling at >RM300psf. Heard the upcoming See Hoy Chan project is going to hit RM400psf ceiling too. Kuchai, kuchai, kuchai, the property in this area is no less than PJ nowaday.


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