What is interesting is the re-sale market, or lack thereof. This condo is brand new, never inhabited and offered below all other properties of the same size (distressed). Locals see no value even at distressed prices. At the same time, supply is low: imperia completed first and this is the only Puteri property up for auction at the moment.
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Puteri Harbour Community
- Thread starter Qube3
- Start date
What is interesting is the re-sale market, or lack thereof. This condo is brand new, never inhabited and offered below all other properties of the same size (distressed). Locals see no value even at distressed prices. At the same time, supply is low: imperia completed first and this is the only Puteri property up for auction at the moment.
I thought so too - but that doesn't make sense. Malaysians don't have a 1mil floor, and ONLY Malaysians can bid at auction. So...no need to 'rush in' at 1m. If wait for it to go to 800k start before bidding, ie a low start point. We'll see soon!
This unit is facing the office block and direct west facing, you say got value or not? Never see any harbour facing unit on auction?
actually the distressed sales acrossed the straits is far worse and in dollar terms, it's incredulous!
http://www.theedgeproperty.com.sg/content/distressed-sales-sail-reflections-keppel-bay
http://www.theedgeproperty.com.sg/content/distressed-sales-sail-reflections-keppel-bay
But it's completely explicable...the guy at the Sail with a buy-price or 1.7 paid 300k up front for his deposit and his monthly repayments were 4.7k. His rental was 4.1k, so he paid his tenant $600 a month to live in his house.
Take one look at expected incoming supply, their effect on vacancy rates and rental income and knock-on effect on resale prices (10-18% to fall), he made the right choice and cut his losses now, rather than later.
Seriously I don't even bother looking or calling up any agents who have a 7th floor condo to offer in a sea side location. This is one of the traits any investors should follow.
Just received my request for second payment for Teega for completion of superstructure, so I guess the post earlier was correct that the last brick was put on Teega recently. Make sure your discounts are applied! Here is the latest picture from Skyscraper city web site on the progress on the podium and recreation area. I guess it can finish on time after all, though I would not have minded a delay until a year from now.
Lots more great pictures here http://www.skyscrapercity.com/showthread.php?t=1562739&page=8
Lots more great pictures here http://www.skyscrapercity.com/showthread.php?t=1562739&page=8
Someone quite senior at UEM told me that the project team has already revised the completion date to June 2017, which is around 7 months delay. The interior finishing takes quite a bit. And In case anyone did not realize, in Malaysia the authorities approval process take very long. Remember, Imperia looked quite complete for months before they started issuing completion letters ....
Imperia Office tower has been bought out by Khazanah. You will likely see more Khazanah companies moving in:
http://www.theedgeproperty.com.my/my/content/khazanah-buys-imperia-building-uem-sunrise
Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia.
Khazanah holds and manages selected commercial assets of the Government and undertakes strategic investments on behalf of the nation. It is involved in sectors such as power, telecommunications, finance, healthcare, aviation, infrastructure, leisure and tourism, and property, amongst others.
Its listed portfolio includes Axiata, CIMB, Tenaga Nasional, IHH Healthcare, UEM Group, Telekom Malaysia, Malaysia Airlines, and Malaysia Airports.
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Puteri Harbour Marina named Malaysia’s first International Clean Marina
Read more at http://www.marinebusiness.com.au/ne...nternational-clean-marina#LX8z0ulC2ybA8FuS.99
Read more at http://www.marinebusiness.com.au/ne...nternational-clean-marina#LX8z0ulC2ybA8FuS.99
Ya. Many Irate customers will go there to bang tables too!
Omg PH is getting more interesting
Omg PH is getting more interesting
Those telco companies will attract plenty of customers.
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