For the past 2 week, I have heard 3 condominium projects launched surrounding Signal Hill with selling price not less than RM400 per sf. The best part for developer is that they sold out in less than 2 hours and some even fully registered before launching.
One of the listed company known as SBC Bhd gets all their unit registered before 10am after they start at 9am. Another new condominium project expected to be launched in the middle of this month located in front of Wisma Perindustrian is even better – fully registered and taken up without any brochures.
Have you wonder why all new coming condominium development will continue to command higher price yet buyer will keep buying?
By middle of next year, I foresee double storey terrace house at reasonable location with land area of less than 1800 square feet will exceeded RM400K. Developer will not be so kind to sell their terrace house lesser than this amount due to the land costing effect.
Good location especially around Damai, Likas, Luyang, Iramanis, Kelombong, Penampang and Kingfisher will continue to command good price but will developer construct double storey within this few area? NO!! Within this hot area, for sure developer will develop 2 ½ or even 3 storey house with prices will be not less than RM700K.
I believe majority of the developer will maximize their land for condominium or apartment development especially area like Signal Hill and Likas. This is located only about 3KM to town with potential sea and Mountain View. All newly launched condominium at Signal hill area last month commanding prices of not less than RM450 per square feet and mark my words it’s going to be more for coming new condominium development within this area in next 6 month.
Time has change. Younger generation has different concept and living style. This group of young professional will demand a different living style at “signature address” especially glamour place like Signal Hill and Likas, while in KL are places like KLCC and Mont Kiara. Not only that, condominium which promises one stop lifestyle living also provide plenty of facility like gym, tennis court, badminton court, swimming pool and BBQ area.
But bear in mind, the more facility given the higher the management fees is going to be. So watch out when you buy condominium as the fees itself will kill you if your investment turns sour.
Lately I saw old generation also moving to condominium due to security reason. So everyone is accepting the condominium concept which will lead to the higher demand especially new place like Kota Kinabalu.
Dear all, remember what I told you today, human wants hassles free and convenience when it comes to purchasing property. Developers are tapping this market thus providing smaller units, fully renovated unit, fully furnished, and of course with attractive bank interest package to make sure all of us bought their unit without any doubts.
Bank will continue to support as younger professional are financing all the above under one roof. This solves all the hassle of renovation, shopping for furniture and shopping for lower bank interest. No doubt developer is enjoying extra profit from their effort but its hassle free for you.
Within the next 2 years I can assure you all, Signal Hill area and Likas area will be the main development area which developer will attack for luxury condominium. Prices of condominium will continue to rise depending on location, view, design and concept. Please don’t hope for cheaper and lower price when you talk about Signal Hill and Likas.
But one thing that doubt me so far is whether the rental market is going to stablize at 7%-10%? Not likely, in developing country rental yield will drop when property price when up. Like in HK rental yield is only around 3%-5%. Therefore, for those who bought luxury condominium for rental collection, watch out.
I notice that in KK, the market for rental of RM5K per month is tough unless our government really promoting MM2H and attract more foreigners to come in. Otherwise, pray hard if you already bought it for rental collection.
Happy Investing.
You cannot Grow Land.. CK Wong & KH Wong
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Hi Ck,
I have been reading your blog for a while and I think you are very generous to share all your rich man “strategies”, really appreciate the effort you put in to maintain the site.
Recently I came across a deal with a fairway mansion condo, 1500sf, RM285k. As I study it, i found several things about this condo.
1. The density is low so the potential of capital appreciation might be there.
2. The location is good with market 5 mins away and beverly hills eatery 10 mins away, plus luyang and citymall is easy within reach. Plus a Golf club is just next to it.
3. The per sf is only RM185sf is one of the cheapest around for condos.
The thing I am hesitant about is the management fee of RM220 per month, as I am going to rent it out, I will obviously need to rent it around 1400 to 1500 to able to have positive cash flow.
What do you think of the deal, is it a good deal?
Ryuken
Hi,
I will take it since its positive cashflow. Not easy to get inflow property nowadays. Happy Investing,
You cannot Grow Land..CK Wong & MY DAD
Is the unit close to high tension power? Which floor?
I’m looking for a property in this area too.
If you’re not taking up, can introduce to me?
Thank you
I just bought 1 unit of Fairway Mansion for RM328K, 1536 sq.ft and renovated. I believed Fairway Mansion is the cheepest condo in KK. Maybe this is because is near to high tension power and no strata title issue yet.
Why so particular abt the high tension tower? it is common in other area.
Hi,
When you have more choices like last time, I dont think you will paid RM200 pst for high tension area. Last 5 years The Peak Phase one also selling at RM200psf with fantastic view. So time will proof how good is your decision. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
hi, Khoo
i guess “high tension area” will be a issue for you when u wanna sell off the property in the future..
common thinking is that “high tension area” causes cancers if u stay near for long term…unproven scientifically yet but the buyer’s concern…
HI,
I agreed with this statement. Anyway sometime when time comes, you have not much choices. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
I agreed with GK that “high tension area” will be an issue when wanna sell off
the property in future. But I didn’t plan to sell it. Fairway is cheep to stay but not for investment. AGREED?
I am stay in Kuching now, noted that the MJC Condo and Semi D also next to high tension tower. However no body bother and voice about it and the price is sky high. Maybe KK ppl are more concern abt health.
Maybe is good to hv that kind of thinking, so that ppl like me can get cheeper home. Hope and pray to hv long life!!!!
Hi Ryuken,
r u talking abt the 1st flr corner unit? i had seen that unit. Workmanship not so good, anyway is cheep.
Hv u seen the 6th flr corner unit? if u hv seen, any comments?
Hi Khoo,
I haven’t seen the 6th floor unit, is it a corner unit? How much are they selling for?
Anyway for the high tension issue, I dont think it will matter in ten years time since the rest of the condos in KK have gone up so much in price, it will be difficult to find existing development. Unless there is a scientific proven case, the place will be a good location.
I think humans today die faster because of heart diseases, diabetes rather than high tension place, and fairway mansion behind got a place to jog and exercise.
Hi Ryuken,
I had bought that 6th flr corner unit at RM328K with 1536 sqft, it is nice because the previous owner had changed the floor tiles and granite surface table top on bath room and kitchen, the ceiling also changed to plaster ceiling, 5 new aircons, all lighting fittings installed and never tenanted before.
I like Fairway because it is well maintain. The developer has a good name (BHMF, Borneo Housing) is jv between Sarawak and Sabah Government (if not mistaken). So no worry abt the management.
It is convenience to me as i am working at Bundusan Square and my kids to study at SJK Yue Min.
Last time the 1st floor unit they were asking for RM298K, maybe now they are willing to lower down. But definitely needs reno.
Security in KK also been the factor for me to buy condo.
Hope that i am not making wrong decision. Because RM328K is not small amount.
Well renovated/maintained with 1536 sqft for RM328k, I’m sure you had made the right decision. Happy Investing
Hi,
when we talk about HT area, can the residents of the housing or condo voice their concerns to the local authority? Say when u bought the property no HT. Then in 5 years, the nearby area is constructed and gazatted for HT poles. Any thoughts on that.
Sometimes is good to hv that kind of thinking, so that we can get cheeper home. I am staying in Kch now, noted that the MJC Condo and Semi D also near to high tension area, but no body voice abt it and still selling with sky high price. Maybe KK ppl are more concern abt health.
Actually we cannot control the authorities to put up the tower, as long as it is within the government road reserve. It is luck lah!!!!
Fairway is cheep to stay but not for investment. AGREED?
dear Khoo…
Yes, i agree $210++ is considered cheap in term of Condo-type in KK. But i rather buy landed property such as Double Terrace house with $300,000.++ if i plan to stay longer locally..
As you are from outstation, Fairway condo suit u well, as security is the main concern when u are away.
P.Opn
Hi,
Its a luck my dear friend. If you wanna predict such thing better go double check with local district town planning. But they government plan also changes throughout time. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Anyone knows about the price of aparetments/condominium in Tawau?
Heard there’ll be at least 2 condos developments behind RTM new premise near Kepayan. Prices range from RM300K and above. What’s your view on these developments ? Will there be a ‘condo’ glut ?
HI,
It will be more than 5 project line up to be launch. So just wait and see. The prices going to be around RM300 psf. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi,
As CK mentioned earlier, sometimes people dont have much choices. Even it is just right beside the HT area, still there are people buying it, eg. Taman Cerah In Menggatal area, you will be surprised to see how ‘giant’ is the HT Tower, wiring are virtually flying all over the Taman area. Yet it is continuing building new phase, it is phase 5 now, and believe more will be coming.
Also, couldnt remember exactly when was the 1st phase constructed, probably around 5-7 years ago, when they first launch their terrace house, it was only around rm180k, now is selling around rm288K-rm400k ++.
Surprisingly can appreciate so fast within few years even though it is surrounded by huge HP tower. Really dont understand at all.
Really not easy to get reasonable selling price for terrace houses in KK area nowadays. Among them, most of the selling prices are vary a lot (overpricing) from the bank valuation price. Sigh! Imagine if all the allowances eg, petrol, flour etc have been cancelled. It will be a hard time for the lower middle income group, and the dream to getting a terrace house is even more far far away…
Even kionsum Height , some banglow units are less than 300ft away fron HT cable but people still live there
CK,
Why Fairway Mansion is selling so low price? looking from outside it is not bad also and is quite convinience. Do u know what was the price when it started launced in year 1997? What do u think the developer BHMF ?
Thanks.
Hi,
Anyone know about the apartment behind damai lintas supermarket? Still under construction.
Please comment.
Violet
Hi,
Developement project for Wahmie Group. The condo consist of 554 units selling from RM240K last 2 years. All units are fully sold and subsales is selling not less than RM315K depending on floor and unit size. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Health vs wealth, it depends on which side you are in. If you own the shoplot that the telco company want to install their communication equipment, you could collect up to RM5000 rental per month just by renting out your rooftop. As the landlord, you would definitely agree because this is the perfect tenant! But for your other tenants renting the other floors downstairs, they have to live with the dangers of the communication equipment affecting their health. These tenants naturally would prefer to move out if they have the choice – but when you cannot afford your own home / place to stay or an office, you have to rent from somebody. Again the morale is buy properties in good strategic location and wait. It is easier said than done but if we do not start somewhere now, very soon prices of properties will be more & more beyond our financial capability and time due to our age factor (cannot leverage on 20-30 year loan). If you do not own any property, you would not have much options or choices, including putting your health at risk. For the property owner, the $$$ just keep rolling in…
HI,
Ya I agree with you. Times is our biggest enermy when we grow older. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Any news about the peak vista?
Still under construction, several units remain unsold.
Any comments about this project and also the Peak SOHO?
HI,
What news you expected?Some of the The Peak Vista unit is unsold due to the location and the prices is matching The Peak Vista Block A as the developer are not in the hurry to let go since they have enough funding to construct their project. The Peak SOHO eventually will be sold well during the lauching also due to location, small scall project and affordability. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi CK,
Would like your comment on the bank loan, whether its better to take BLR or FLR for long term investment? My husband recently bought a unit of condo for rental income and appreciation value, I do hope we could cover the loan in the long run. We have an offer from Public Bank but am considering EON bank for long term investment as FLR rate is quite stable. We haven’t sign the offer yet as the owner just signed SPA.
Thanks.
HI,
FLR is moving slower compare to BLR now but it will move whenever BLR move. Its all depend our BNM. In 1998 crisis, FD is at 15% so its all depend how is overall global economy trend. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
HI,
When money and health been use as comparison, people still prefer money..AGREE? Especially if you talk about big investment like properties. I ever ask some KK’s developers how come they can get approval to built house near to high tension area. They told me there is not side effect on our health over the long term otherwise local authority “WON”T APPROVED” their building plan. So that means as per approval from ministry of housing this will not affecting our health. But do you believe it? Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
hi, CK & guys
Actually Tele-Tower bring more harm than SESB Tower…so bear in mind to stay away…scientifically proven but not well educated or informed..
It is true that most of the Condos in KK no strata title yet? It is common in KK? what is the implication when the land lease is expired if no strata title?
Thanks.
HI,
The Peak Condo has got their strata title. The speed of the issuing of strate title depend on developer and land office. The efficiency and effectiveness of the work in not in place especially both developer and land office is getting benefits so long as the transfer is done during the processing of the strata title. That means they are earning alot whenever property been transfer ie they are charging average “admin fees” of RM1k-RM10K. So what for they issue the title fast? But so far bank are very comfortable with the Loan Agreement Cum Assignment documents. So no worry on the security. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
HI,
Sorry I’m not familiar with the developer and the previous selling price, but last few years most of the unit are transacted between RM240k-RM280K depending on condition, renovation and furniture. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
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