New developments to share

[Sagitarius]

I know an owner of a unit at Elita, Straits View Condo. He told me he expects to rent it out for RM6.5k, fully furnished. He has another at the older block renting it out for RM3.5. Don't know if he will get such a tenant.

 

[cow138]

The road going into Molek is terrible. It's almost always jammed.
Be mindful of it when considering a unit there.

 

[Sagitarius]

Ya, it is possible to use EDL. My worry is the discerning tenant, with so many new units coming out for rental is difficult to find.

 

[FHBH12]

Rental will be tough unless you are a local qualified to buy those $300-500k RM condo/landed properties with 2 or more bedrooms near the 1st and 2nd links. I think this range will remain sustainable as more internal migration from the northern states come to JB and SG to work.

 

[Frodo]

Rental will be tough unless you are a local qualified to buy those $300-500k RM condo/landed properties with 2 or more bedrooms near the 1st and 2nd links. I think this range will remain sustainable as more internal migration from the northern states come to JB and SG to work.

The other alternative is to rent it out at lower rate and adopt the mindset that you are paying a "subsidised" monthly instalment on a property, though this mindset is hard to keep if you have many properties under your belt.

 

[Frodo]

I know an owner of a unit at Elita, Straits View Condo. He told me he expects to rent it out for RM6.5k, fully furnished. He has another at the older block renting it out for RM3.5. Don't know if he will get such a tenant.

I think it is quite tough, 6.5K is a lot of money. It can probably cover the instalments for two JB properties!

 

[Sagitarius]

Ya, I think so too, but this guy is so positive-minded. He has renovated the unit and make it fully furnished. Time will tell.

 

[freedom2005sg]

Does anyone knows normally how long does it take to rent out a condo unit in Zone B? As usual, like the other condos, it is near Educity etc.

If my monthly instalment for a 900+ sq ft 3 bed room unit is RM2800 / mth (including maintenance).

Assuming I do not intend to reap any positive returns in the first 2 years, can I rent out at RM2800, or more RM3000, or lower RM2500? How long will I need to wait? 2 mths? 6 mths?

This will only happen in 2017.

I just need to cover the MOST IMPORTANT aspect, the monthly loan of RM2500 / mth actually. The maintenance fee of RM300 I can absorb actually.

Please advise.

 

[freedom2005sg]

Frodo

Im actually planning for this worse case scenario.

This should work right? Assuming my monthly instalment is RM2500 + RM300 maintenance = RM2800 and I make an offer of RM2500, "losing" RM300.

My unit is a 900++ sq ft 3 bed room. Near Educity etc.

Can a 900++unit sq ft 3 bed room be let out at RM2500 - RM2800 ?

What do you guys think?

The other alternative is to rent it out at lower rate and adopt the mindset that you are paying a "subsidised" monthly instalment on a property, though this mindset is hard to keep if you have many properties under your belt.

 

[freedom2005sg]

Anyone knows what's the projected population increase of Zone B from this year 2014 to 2016 in 2 years time?

I read Nusajaya has 500,000 people now.

Zone A is the worst zone so far, in terms of units being built. I have a unit at Zone A, thus I will not invest in Zone A anymore.

I'm more interested in Zone B.

This should be another 'catalytic' driver for Zone B.
1.5 billion dollar Ascendas Tech Park has started building.

http://www.mynewsdesk.com/sg/ascend...-nusajaya-tech-park-iskandar-malaysia-1007539

What do you guys think?

Ya, it is possible to use EDL. My worry is the discerning tenant, with so many new units coming out for rental is difficult to find.

 

[DCputeri]

Why do you still want to invest in another one in iskander given that you seem to be in a cash-tight situation looking at the way you work out your sum? I personally do not see property in these areas for good rental income at least for the next 2-3years. Strategize your move carefully.

Anyone knows what's the projected population increase of Zone B from this year 2014 to 2016 in 2 years time?

I read Nusajaya has 500,000 people now.

Zone A is the worst zone so far, in terms of units being built. I have a unit at Zone A, thus I will not invest in Zone A anymore.

I'm more interested in Zone B.

This should be another 'catalytic' driver for Zone B.
1.5 billion dollar Ascendas Tech Park has started building.

http://www.mynewsdesk.com/sg/ascend...-nusajaya-tech-park-iskandar-malaysia-1007539

What do you guys think?

 

[Manhattan]

Agree. Try not putting all your eggs in one basket. Rental market will pick up only in 2017 provided all the stars align. I.e. hospital ready, fastrack operational, ascendas factory up and running, msia and sg dun quarrel, high speed train start building, no big world crisis..... to sleep well, MUST have holding power.

 

[Selinda]

Hello, Anyone heard of development from Bangkok? Saw that there is a new and quite popular condo coming up at Siam which is quite near all the tourist areas. like MBK, Siam Paragon, Platinum and all. Sounds quite good.
Let me now if anyone of you has gotten a property in Bangkok.
i actually saw the property here

 

[RedsYNWA]

Agree. Try not putting all your eggs in one basket. Rental market will pick up only in 2017 provided all the stars align. I.e. hospital ready, fastrack operational, ascendas factory up and running, msia and sg dun quarrel, high speed train start building, no big world crisis..... to sleep well, MUST have holding power.

I was at a lawyer's office at City Sq on company business yesterday. The lawyer was saying that for locals, why would they want to stay in 3 bedder 1,000 sq ft condo in the hot zones, if they can stay in a double storey terrace around 10-15 mins drive away, and probably at a cheaper price too?

With the overbuilding, he is concerned with the possibility of abandoned projects, esp if developer is financially weak. Potential investors need to be discerning and do their homework carefully.

 

[ECboy]

I have a house in BKK but its not in city centre, it's at Bangkae. The development you mentioned is at a very good location especially for people who travel a lot, its near the airport rail and fairly accessible to the highway.

Hello, Anyone heard of development from Bangkok? Saw that there is a new and quite popular condo coming up at Siam which is quite near all the tourist areas. like MBK, Siam Paragon, Platinum and all. Sounds quite good.
Let me now if anyone of you has gotten a property in Bangkok.
i actually saw the property here

 

[Sagitarius]

I tend to tell my friends to buy a unit only if he is satisfied that it is an alternative home for him. Unless the location is very good, it could be a long while for the discerning tenant to come along. I share with you the story of my neighbour. About 10 over years ago, a new development with good views of a golf course was marketed with a lot of fanfare. It cost around RM380,000 for a 3-room unit. My neighbour did not want to stay there and kept it as a long-term investment. So her asking rental was around RM1,000 per month for the 3 roomer. The rental has been used to pay for the maintenance fees and sinking fund. Luckily she paid for it in full. Had she taken a bank loan, she has to come out money to pay for the mortgage loan. I am not trying to dissuade people from buying but do the sums first and make sure the location is good.

 

[malpaso]

Does anyone knows normally how long does it take to rent out a condo unit in Zone B? As usual, like the other condos, it is near Educity etc.

If my monthly instalment for a 900+ sq ft 3 bed room unit is RM2800 / mth (including maintenance).

Assuming I do not intend to reap any positive returns in the first 2 years, can I rent out at RM2800, or more RM3000, or lower RM2500? How long will I need to wait? 2 mths? 6 mths?

This will only happen in 2017.

I just need to cover the MOST IMPORTANT aspect, the monthly loan of RM2500 / mth actually. The maintenance fee of RM300 I can absorb actually.

Please advise.

can you afford to leave it empty for a year? if you can't please don't take the chance. who can tell what the rental is in 2017? Nobody!

 

[malpaso]

Hello, Anyone heard of development from Bangkok? Saw that there is a new and quite popular condo coming up at Siam which is quite near all the tourist areas. like MBK, Siam Paragon, Platinum and all. Sounds quite good.
Let me now if anyone of you has gotten a property in Bangkok.
i actually saw the property here

Sandy Kwan! YOu're back!

 

[freedom2005sg]

Needs to have holding power...If empty for a year, will have to stay there half of the week or treat as weekend resort home to make my money's worth...

That's why Im hesitating, since looking at the supplies of condos coming up. The supplies in Zone A is scary, not just for JB city, but esp for Danga bay and the waterfront near CIQ. That's why I avoid like the plague.


Medini condos are going at RM800+psf, while puteri harbor condos are going at RM800+ all the way to RM1000++ psf.

Won't I have an advantage in terms of rental if my unit is RM500++ psf?

can you afford to leave it empty for a year? if you can't please don't take the chance. who can tell what the rental is in 2017? Nobody!

 

[freedom2005sg]

My location is near Educity.

Is it good enough in your opinion?

I tend to tell my friends to buy a unit only if he is satisfied that it is an alternative home for him. Unless the location is very good, it could be a long while for the discerning tenant to come along. I share with you the story of my neighbour. About 10 over years ago, a new development with good views of a golf course was marketed with a lot of fanfare. It cost around RM380,000 for a 3-room unit. My neighbour did not want to stay there and kept it as a long-term investment. So her asking rental was around RM1,000 per month for the 3 roomer. The rental has been used to pay for the maintenance fees and sinking fund. Luckily she paid for it in full. Had she taken a bank loan, she has to come out money to pay for the mortgage loan. I am not trying to dissuade people from buying but do the sums first and make sure the location is good.