New developments to share

[dragonlance]

Well, personally I prefer landed as well generally although there seem to be a lot of activity in the high rise segment in the hot spots of Nusajaya. It's a peculiar thing that high rise are priced much more expensive per sq foot wise compared to landed.

 

[DREAMorACTION]

Re: Nusa Idaman Community

Yes bro. Valid pt. I was deciding hard on 8b. All thing considered, makes no sense 4 me to go 4 e apt.

True...there's so much land there...
While the pricing does look attractive, I wonder if one can afford a RM450k apartment, why not pay a bit more or similar for a resale or newly launch landed property.
A condo or apartment is good for rental yield and comes with the facilities, but how about the potential tenants there. Who will be our target tenants?

 

[peaceful]

The UEM sales lady told me most of the unit is below M500,000. The biggest and the highest floor is slightly above M500,000.

 

[freedom2005sg]

Re: OK let's settle this once and for all I guess. MWTB landed property. Pls advise.

I think killing babies through abortions are more disgusting than this.

I agree that killing babies through abortions are more disgusting than this but what is your point?

Are you saying all Singaporeans should buy condos with 4 tier security system and not landed property? Careful not to piss off existing Singaporeans who are owners of existing landed properties.

Regards.

 

[butadesu]

I copied this google map from somewhere (I forgot where).
It contains the locations of some of the notable condos and development.
It will help people to identify potential competitor development easier.

Please feel free to add

https://maps.google.com/maps/ms?msa=0&msid=210365484480786557956.0004c4dec410f7e272f1e

 

[nickyu]

I copied this google map from somewhere (I forgot where).
It contains the locations of some of the notable condos and development.
It will help people to identify potential competitor development easier.

Please feel free to add

https://maps.google.com/maps/ms?msa=0&msid=210365484480786557956.0004c4dec410f7e272f1e

wow thanks for the link...it look like JB central will be crowded with condo in 3 years time...especially around Woodland checkpoint..just hope the demand can cope with the supply

 

[erictan26]

Hi,
just express my little opinion. Do you guys consider molek pine tower 1 and 2 which the psf still below 450. This condo shall be the best managed among the others in JB, As the management shall be handle by resident after 3 years ( if i not mistaken ), the quality of condo management do play a importance issue in property value. Tower 1 is around 10 years old, but it's still look ok as the management is doing their job.
Japanese is buying tower 3 and 4 for more than 650psf, when they move in and sure will have friend/relative to visit them. ( there are going to have a little japan within this area) Therefore there be chances for them to buy in tower 1/2 as the price is still much lower.
At the moment, most of the resident are consist of local expat/korean/japanese.

 

[vincentck]

Re: Nusa Idaman Community

Brothers, do u know if the rubbish from service apartments are thrown down using common chute or placed in bins outside common corridors?

And also what are potential red flags for serviced apartment?

My KL apmt with condo facilities has an open cubicle near the lift to throw rubbish; not a good solution because of the possible smell that may accumulate over the weekend or if the cleaner misses the clearing. I've not seen any common chutes like what SG has in newer HDBs.

Potential red flags are similar to other high rise residential units, non-payment of maintenance fees by some owners, lack of control for visitors/carpark, bad general maintenance of facilities and cleanliness, etc. But high-rise units in KL usually gives the best rental yield compared to landed; may be different in Nusajaya.

True...there's so much land there...
While the pricing does look attractive, I wonder if one can afford a RM450k apartment, why not pay a bit more or similar for a resale or newly launch landed property.
A condo or apartment is good for rental yield and comes with the facilities, but how about the potential tenants there. Who will be our target tenants?

The target market for this seems to be more to Msians than foreigners; affordable G&G living with the con of not having your own land or for investors to buy for capital appreciation and rental income 3 years down the road. A lot of things can happen in 3 years, and I doubt there will be any loss from buying a unit there.

 

[butadesu]

Hi,
just express my little opinion. Do you guys consider molek pine tower 1 and 2 which the psf still below 450. This condo shall be the best managed among the others in JB, As the management shall be handle by resident after 3 years ( if i not mistaken ), the quality of condo management do play a importance issue in property value. Tower 1 is around 10 years old, but it's still look ok as the management is doing their job.
Japanese is buying tower 3 and 4 for more than 650psf, when they move in and sure will have friend/relative to visit them. ( there are going to have a little japan within this area) Therefore there be chances for them to buy in tower 1/2 as the price is still much lower.
At the moment, most of the resident are consist of local expat/korean/japanese.

Molek Pine is quite far from CIQ yet they are pricing quite high because they have Japanese marketing team marketing to Japanese. My understanding is that there is Japanese school nearby and molek pine also has facilities like hot bath which are what Japanese love. How old is tower 1 and 2? Who is selling them? I thought the developer only selling tower 3 and 4?

 

[erictan26]

Molek Pine is quite far from CIQ yet they are pricing quite high because they have Japanese marketing team marketing to Japanese. My understanding is that there is Japanese school nearby and molek pine also has facilities like hot bath which are what Japanese love. How old is tower 1 and 2? Who is selling them? I thought the developer only selling tower 3 and 4?

with new EDL highway, it can be reach within 15 mins or the most 20 minutes. tower 1 is 1o years old and tower 2 suppose around 6 years old. But the management is doing a wonderful job on this 2 towers, it's does not looks old at all. Frankly speaking, you really need a god management team for jb condo as well as good paying master for the monthly fees. The lot of jb apartments are facing collection problems and lack of fund to maintain the place.

it is a mature community, you can get what ever you need within 10 minutes radius. there are shops within walking distance also. What is mean is buying from sub sales market. With the completion of tower 3/4, it will also further increase the sub sales price for tower 1/2 as at the moment the price gap between it is too wide. You can target at those not 'so rich' japanese buyer

 

[butadesu]

with new EDL highway, it can be reach within 15 mins or the most 20 minutes. tower 1 is 1o years old and tower 2 suppose around 6 years old. But the management is doing a wonderful job on this 2 towers, it's does not looks old at all. Frankly speaking, you really need a god management team for jb condo as well as good paying master for the monthly fees. The lot of jb apartments are facing collection problems and lack of fund to maintain the place.

it is a mature community, you can get what ever you need within 10 minutes radius. there are shops within walking distance also. What is mean is buying from sub sales market. With the completion of tower 3/4, it will also further increase the sub sales price for tower 1/2 as at the moment the price gap between it is too wide. You can target at those not 'so rich' japanese buyer

I think if you are aiming Japanese resident. That is the area you would want. I checked out their Japanese website before and it looks quite decent. u already check the rental yield against investment already I guess?

 

[LeMans2011]

Re: OK let's settle this once and for all I guess. MWTB landed property. Pls advise.

If you have been reading for 14 days... you would have got the answers to all your questions 5 x

 

[butadesu]

JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

So far, I found that most discussion has been focusing on Nusajaya area.
Recently there is a sudden increase of many new projects (Twin Galaxy, Sky88, Paragon etc) near current JB CBD.
All of them are expected to TOP 2014~2015.
I would like to start a new thread to discuss these developments.
I hope the discussion can either be from the point of view or investment (for rental and capital appreciation) or for own stay, so that all of us can learn from each other.


Personally I have bought unit in Paragon Residence @ Straits View.
I favor this development because I feel that it is unique.


I did some research, and I found that the surrounding area (lido beach) is the high end residential estate of JB.
Property prices around that area is higher than other areas in JB city.
Accordingly to some webpage, there are many political elites and businessman living there.
Also take a look at Residence at the Peak. It is a new landed just beside paragon. It cost 5M each.
I felt the target group of people buying or renting in the area are “high-income”, affluent group.
This group will most likely have holding power and are more resistant to sell during economy downturn.
Therefore in event that property do crashes, less people (paragon owner and surrounding estate owner) will sell and therefore prices are less affected.
Because of this, I believe paragon location is more attractive than more centrally located condos like Twin Galaxy and Sertia88.
Furthermore, paragon is located on an higher ground and surrounding are all low rise banglows, it has excellent view of the strait at high floor.
The plot of land is commercial (not residential). Good and bad. Good in the sense that the surround area has potential for commercial developments.
And I’m sure that with lido beach development, it will spur other commercial development in the area. (If it is residential plot, then it has no chance).
I also heard paragon has very good fengshui. Because it is first condo development by Datuk Lim (do u know him? His castle is just in front of paragon! ).
I don’t understand fengshui at all but well...
High price paragon will still be within the reach of foreigners if malaysian government decided to raise the minimum foreigner investment limit.
I feel paragon is unique and unique property will be able to appreciate faster and resistant to down turn.

I believe JB govt will surely be building houses at a rate that is higher than demand. This is their nature.
Basically there will be oversupply. And there is no real demand in renting because population just cannot catch up fast enough.
Many houses will be empty.
However, oversupply and empty houses doesn’t mean prices will drop.
Prices will drop only if the people owning the property has no holding power.
Therefore, it is important to purchase property that target buyers that are affluent and therefore with holding power.
Having a bubble doesn't mean it will burst. Bubble will burst when bank stops lending and buyer stops buying.
Else the bubble will just keep growing. Its like the musical chair. Make sure you are not holding when bubble burst.

I originally wanted to bet on areas around CIQ. Therefore I also did some research on their pricing.
Skysuite, V@summerplace and pine view are properties I was interested in.
However, after some consideration, I decided to gave up based on the following reasons
1. Betting on MRT by 2018 is not logical because by then the codo will be old and the chances of MRT station is not guarantee.

2. That area is extremely congested and not ideal for high end living

3. I felt the target group would be those working in Singapore but living in JB. However these group of people are not really “high-income” group of people and they are probably very mobile.
Because they are not high-income group and highly mobile, they may not have holding power when property prices crashes.

4. Furthermore, this area will be most adversely affected by property prices in Singapore. If property prices in Singapore dropped, why stay in JB and travel to SG? I foresee property prices in SG will drop by 10 ~20% by 2014/2015. Of cos, this is still much higher than JB, but rent will be more depressed and more will move back to SG to stay.


Lastly the reason why I have chosen Paragon over other development is because I intend to cash out on TOP and 2015 is a good year to cash out for me.


Above are some of my opinions and I certainly believe I'm over optimistic.
Please slap me in my face and give me your flank opinions!
Thank you for wasting 5mins of your life reading this post.

 

[erictan26]

I think if you are aiming Japanese resident. That is the area you would want. I checked out their Japanese website before and it looks quite decent. u already check the rental yield against investment already I guess?

most of the Japanese may prefer buying than renting it, therefore just hope for capital gain if possible. The rental yield is around 6% at the moment. Most of the tenant are expat work in pasir gudang as well as korean/japanese.
With the completion of EDL, from CIQ will take less take 20 minutes to reach the place. Singapore may be start looking at this area. As mentioned, this is a mature community and totally different form 2nd link area. You can get famous hawker/restaurant within the 5 to 10 minutes driving or by walking to nearby shops.

 

[zoros]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

Hi, thanks for your detailed analysis on your purchase of Paragon Residences.

On your topic, just to inform that I just bought Twin Galaxy instead. Few reasons which I bought Twin Galaxy:

Pros
- one of the nearest new project to CIQ. The moment you turn right down to Jalan Tebrau, it's the 1st left turn before junction of Pelangi Mall.
- after looking at other JB CBDs new projects like summerplace and skysuite and even the future sky88, twin galaxy is the ONLY luxury JB condo which will have a small commercial portion of about 11 shop lots for food/beverage rests/cafes. The nice developer owner said that he already secured few rests like Thai, Jap and a chinese rest to lease his shop lots when twin galaxy TOP ard 2014/2015. i believe this commerical portion will attract buyers/tenants who want the "food convenience". Plus, the commercial factor will also help to create more "happenings" along this street. Young couples, Singaporeans and those Japs/Koreans would luv this convenience without driving out.
- again of course based on history, the planned "JB Bukit Bintang" for this area might or might not happen. But if it does happen in 2015 and after, it would boost the housing value.
- another reason is also b'cos due to Setia's Sky88 to be beside this twin galaxy. Setia is already a semi-govt company, and with a govt project beside twin galaxy, the whole area is likely to be redeveloped with the car-washing activities to be moved away from this very convenient location as the land prices rise due to these 2 big luxury projects.
- the nearby abandoned pacific mall is being planned to develop into another hotel soon. so the much higher hotel rates might let the owners of twin galaxy be able to capitalize by offering lower mid/long term rental rates for those required to stay longer.
- sky88 is going to sell ard RM650 to RM700psd on average. current twin galaxy is selling ard RM600psf...and is more nearer to CIQ-Customs than sky88. This make me decided to invest in.
- my 1st priority is to sell my twin galaxy unit with 2nd priority being to lease out. I am not looking to sell very high just about RM100K more than my current buying price is sufficient as i look to cash out between now to 2015.


Cons
- like some of brothers mentioned, this johor CBD area will be rather congested with many high-rise condos, e.g. twin galaxy, sky88 and the nearby KSL city project. However, twin galaxy is just right at the 1st turn-left corner of the Citibank JB building which i think is not too bad. Further, foreseeable congestion might also mean that more commercial activities would be around the sky88/twin galaxy corner being planned in future? i agree that Paragon Residences will be more suitable for family stay as it would be less congested since most of the houses there are low-rise landed. In a nutshell, Twin Galaxy location is more for convenience, and also for the planned commercial factor in future.
- the developer of twin galaxy is a new one unheard of in property industry as he started from manufacturing industry. i feel that this project will be TOP as being his 1st project, he has to ensure a success if he wants to venture into property industry whatever it takes.
- current location of twin galaxy has 1 row of car-washing shops and also a new york hotel known to have few night actitivites. For now, it's rather a sore sight to see but i would think that once sky88 also launch and build up, this govt company will be able to get these car-washing shops to close down eventually and move away, and a reduction of night activities. in fact i was told that the direct opposite car-washing shop will be redeveloped into a low-rise boutique hotel in 2 yrs times.



Yes, i agree that most johoreans dun ve the purchasing power to buy my twin galaxy unit. again like others, i am targeting those "work in SG's johoreans/m'sians", SG PRs, Singaporeans and Johor's expats. One thing is that to weigh between much cheaper cost of living and also security factor, twin galaxy is the nearest to CIQ (M'sia customs) for new project.

i also agree that JB might have an over-supply of condo units in 2015/2016. Important is that the plans by jb city council does execute, and also to find a very convenient-located place for investment.

On PARARON RESIDENCES, can you help to confirm whether will LIDO BOULEVARD project block the Singapore view of this Paragon Residences eventually if it builds up?

I appreciate your comments and feedback.

Thanks

 

[julyaric720]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

I agree with the author's point of view! I learned a lot. Thank you!

 

[butadesu]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

Dear bro zoros, thank you for your deep insight into development around JB CBD area. You have given me many new information about development around Twin galaxy. I didn’t know about moving away the car washing shops and developing a JB “Bukit Bintang” in the area.
I agree with you that Twin Galaxy and Sky88 are both targeted at people who seek convenience.
Similar to you, I share the intend to sell as 1st priority and 2nd priority to rent. I hope we will be rewarded for being vested in early wave of development in JB CBD area.
Regarding Lido Boulevard project. I don’t know the exact map or plan. But from various scratchy images I gathered from the internet. It seems the area near Danga bay will have high rise and the area nearer to Lot1 will have low rise.
http://www.cmpsb.com.my/v1/index.php?option=com_content&view=frontpage&Itemid=1
Paragon is NOT directly facing the straits. It is titled at an angle. (Strange huh?)
Btw, I heard there will be a Macdonald planned beside Paragon.

 

[danntbt]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

Possible location of Lido Beach Waterfont:

 

[zoros]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

Hi danntbt

I couldn't see your jpg photo on Lido Beach. However, looking at the link provided by butadesu, it would be doing the sea reclammation for now. Looking at the timeframe, it would take at least 5 yrs before any Lido project forms up.

From angle of "view", Paragon has the limited seaview but it might get partially blocked when Lido project builds up after > 5 yrs. For others like my Twin Galaxy, seaview only if buy > 20 storey high at south facing. Other south facing floors < 20 storeys also not bad as the nearest building, Kiswire R&D centre only like 3 storeys high. So basically all the units at south facing (Singapore view) will not be blocked. Main thing about this area is that it has tall commerical buildings like Citibank JB building, Ambank JB building and also the Zurich Insurance building with a new york hotel and of cos several car-washing shop corners. I hope that some of these car-wash corners can be redeveloped into similar banking or commercial towers...i.e. create a very convenient living space for these office working folks to rent or buy my twin galaxy unit. Keep my fingers cross then.

 

[butadesu]

Re: JB CBD Area Properties (Sky88, TwinGalaxy, Summerplace, Skysuite, Paragon etc)

I got this Low Resolution development map from Iskandar Invest website. (There is a high resolution one on the wall of MPI building at shenton way)
My understanding is the Lido Boulevard Project consist of 2 main areas.
One starts from LOT1 to the pier near paragon, another starts from pier near paragon to Danga bay pier.
The pier near Paragon may be one of the river taxi stop.
Bro danntbt, I think the picture you provided should stretch from Lot1 to Pier near Paragon.
A link to support my guess http://super325.com/2012/07/19/all-systems-go-for-rm4-billion-in-lido-beach-front-project-11-photos/#more-7286
So bro zoros may be right, Paragon seaview could be partially blocked by Lido project.