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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{ 136 comments… read them below or add one }
Hi CK WONG,
For investmnet property,usually capitalization rate will apply to determine whether the investment is vaible. Capitalization Rate=Net operating income/sale price.
For instance,if the rental is Rm5k per month minus expences say Rm300per month and current sale price is Rm480,000(1200sqf for Rm400persqf),the Cap Rate=56,400/480,000 is 12%. Cap Rate at 12% is a good investment.
Nowadays,the land cost and cost of construction psf is increasing,developer will built in this cost to the end buyer. So,in the long term property investment is the best to hedge against inflation. Happy investing!
Steven (Singapore)
Hi,
Thank you for your information. As I always say, Nothing Better than Property.. Happy Investing.
You cannot Grow Land..CK Wong & KH Wong
Marina court penthouse going for below rm400 psft without seaview…. Is it a good buy? Just worried about prospective tenants. How easy can it be rented out?
Hi,
RM400 per sf is cheap compare to all current new developer selling prices. And don’t forget you are sitting in front of prime and city center surrounded by matured commercial complex. You also need to understand when our city grow, rental yield going to drop further. Tenant is the big issues as its depend on how good is your agent in getting good listing for your property. Happy Investing.
You cannot Grow Land.. CK Wong & KH Wong
Hi, I like your article so much and 1st time to post comment.
I just commit on 1 service apartment.
Palazio serviced apartment, JB, RM270sqf, by Mayland developer. studio style.
- 5 mins from Sunway College, 5 mins from Jusco (the most high end shopping mall in JB) and also 5 mins from the proposed IKEA. For now, Johor Bharu got limited studio supply, and current supply are doing well. Generally condo is still not a common choice for JB local ppl (plenty of landed props) but many non-JB ppl who work in JB/Spore would prefer to rent a place in condo for security reasons. Hence the demand for studio, as there is a huge group of young professionals/couples working in the industrial areas in Senai, Nusajaya, Pasir Gudang/fabrication yards in Pasir Gudang/Singapore with relatively higher income.
The current rental yield for studio (rm100k-120k) beside Palazio is around 1k. and I foresee the Iskandar project is quite concentrate by government.
Can i get some comment from you? Thanks!
HI,
Once Singapore casino open for business and government effort in prmoting Iskandar, I think see any downturn in property at Johor area. If your rental yield is around 10%, you should be buying more as the rental collected is enough to cover the loan and management fees. You might get passive income also. Increase further your rental portfolio… Happy Investing.
You cannot Grow Land..CK Wong & KH Wong
ck
thanks for sharing your views. it is a real help to those who want a quick understanding of kk properties and the kk market in general.
have you heard of this term “condominium on land”? this is getting the best of both worlds- you are getting the benefits of living in condominium e.g. security, services but also the joy of having both feet on the ground. residents are able to “lock up” and travel! they can also enjoy the landscapes without having to tend to the gardens themselves.
however ck your column is mostly about investing and not about buying a place to live, thus your views have a certain bias towards rental and return.
thus how would you price good landscaping, security, open space and good health (as BBC news recently had a article which states that living near green spaces provide certain health benefits).
thanks
Hi,
Condominium on Land? I think its refer to town house. It just like Luyang Perdana Town House which selling not less than RM350K per unit (around 1400 sf). Previously when they start selling it was selling around RM210K per unit. So imaging how much the price has been appreciated.
Norman,
Refer to the matter of price given for good landscaping, security and open space for better health. I think “asian” is not into this level yet. They are mainly strike for survival and comfort living. Of course the “rich” are moving towards healty living but in general a lot of people want too but can’t afford it. In the future property going to be more expensive if you read lately govt is promoting “Go Green” concept. So if you want a greeny environment for healty leaving in KK, you can consider Lucky Height Condominium which sitting on 10 acres of green land facing Kolombong & mountain view. Its a low density with only 48 units. Happy Investing.
You cannot Grow Land.. CK Wong & KH Wong
How about Taman Ketiau as the shophouse is selling at RM280k for 2 storey of 2,200 sf. It Is considered the cheapest in KK driving range of 15 km range. Besides, it is situated nearby to 1,ooo unit apartment and 2 schools.
Hi,
One of my closest friend has bought one unit also past 3 years for RM190K with rental yield of 10%. So if you bought it RM280K for sure the rental yield going to drop to less than 8%. Of course the future is good as nearby more and more development is coming. Furthermore there once the highway connected from Dongongon side sure this area will commanding higher price but we really dont know when the government going to build the highway. Its cheap and you need some holding time for it to matured especially the rental. Happy Investing.
You cannot Grow Land.. CK Wong & KH Wong
I heard Taman Falmingo or bandar putra shoplot (16km along jln tuaran) is selling 2k sf at RM400,ooo each. Is it worth to buy?
Hi,
If you purchase I shoplot of RM400K, easily you need 6% @ RM24K rental per annual and this compute into RM1500 for ground floor. Do you think you can fetch this price at this location?Do you think the population is big enough for them to generate profitable business? I will less consider.. Happy Investing.
You cannot Grow Land..CK Wong & KH Wong
I am looking at one borneo condominiums again. I had deferred my commitment 2 years ago and now the prices had gone up 10-20%. On a second look, maybe this is a good buy, for rental yield?
Despite being away from KK town centre, it is still attracting a crowd mainly due to the one borneo mall. Perhaps when more residential s are built there, the place will mature quicker?
Each project has its target tenants, so I feel the tenants that 1 borneo draws is different from the university apartments, which is also different from 1 sulaman tenants. This I observed after hanging around the place more than once and after interviewing some UMS students.
What are your comments.
Hi, Joe
What’s the target tenants for UAs, 1Borneo & 1Sulaiman as conclusion of ur interview?
^Work Hard Play Harder^
Hi,
1Borneo Tower A open early this year and Tower B will open soon. If you got time please drive over especially night time and count how many light is on. This will give you indication how is the occupancy of the Tower. Every developer are using UMS as a reason to sell but in fact are you really having so many student?? I don’t think. Definetly 1Borneo will have different tenant market but as I say it will took another 2-5 years to really see stable in terms of the rental market and capital appreciation. When the mall was just open, Tower A & B prices hit RM250-RM270K depending on the level but now the price stagnat between RM230K-RM250K. I think you might get it for lower if you really put extra effort in.. Happy Investing.
You cannot Grow Land..CK Wong & KH Wong
UMS students don’t fancy 1borneo. Many prefer their own hostels and the university apartments further up the road.
The working class/ tourist/ expatriates on the other hand prefers 1borneo bcos of its easy access to the shopping and eateries in the mall.
We hope many more working class will find comfort in this area, away from the busy, traffic jams in KK…
HI Jeo,
I fully agree with you. But bear in mind, to build up office base along Jln Sulaman might took another 3-5 years. So you must financial strong to wait for the property to enjoy steady rental yield and capital appreciation. Just look at Indah Permai, it took them more than 10 years to matured. Beverly HIlls took more than 10 years also. KKIP also. Happy Investing.
You cannot Grow Land.. CK Wong & KH Wong
Hi Guru CK,
I want to add on to Lucky Heights Condo in Likas (up the hill where Radiant Court & Radiant Towers/Masionette are located). My good friend has two units here. The location is superb as it is right in the middle of the matured Likas area with all the shops, schools etc and well-developed road network. At first impression, one may feel that the condo is not well managed. But you will be surprised that many professionals such as doctors, expatriates such as Koreans, Japanese and westerners such as British, Australians and New Zealanders plus local Datuks are quietly staying in this place. They like it for the greenery and you can see Mt Kinabalu, monkeys, monitor lizards and many varieties of birds singing in the morning. The air is unpolluted and you cannot find a better place to live in right in the middle of all the modern conveniences and amenities around. The market value for each unit (around 1,050 sq.ft) is presently RM230,000. This work out to be RM230/sq.ft which is still cheap when you compare it with the surrounding Radiant Court and Radiant Towers which are commanding around RM350-RM450 per sq ft. As you mentioned, there are only 48 units here so it can be considered quite exclusive. Should the management committee under Faber Development Sdn Bhd decide to renovate the entire block and give it a new facelift, its value can easily go up to match that of Radiant Court/Towers/maisonette. In time to come, when Faber Development decide to start the second phase of condominiums on this prime 10 acres of Likas land-bank they have, you will be a very happy landlord if you had one unit of Lucky Heights Condo now – because the rental collection will definitely go up. Currently unfurnished units are renting up to RM1000 while furnished units can go up to Rm1,300/month.
As for Taman Ketiau, this is an undiscovered treasure. There are almost 1000 apartment units inclusive of terrace houses and only 30 double-storey shoplots. Two schools are nearby. There is also a Driving School across the road already in operation and another big Government project to build an education and training school for physically challenged individuals under construction now. The road connect to Donggonon, old Papar road (coming out near Lok Kawi Zoo) and also Putatan.
At RM280,000 per unit of double-storey shoplot, this is easily the cheapest in whole KK. No developer will build double-storey shoplots now because land cost is so expensive. Remember Gaya Street shoplots were also double-storey many years ago. To get the feel of it, Karamunsing Capital intermediate double-storey shoplots are touching almost RM1 million now. Of course, their location speaks for itself with regards to Gaya Street and Karamunsing Capital. But unless we got the financial means to attack properties in this two prime locations, then a bit further out of town is still better than nothing at all because we must start somewhere. As the Taman Ketiau area matured, the price will definitely go up because of the limited numbers of only 30 units. The same story will be repeated and the winners are those who can make the right decision now.
Thanks for sharing. This is a great blog and I learn a lot from all the friends who contributed. God Bless you all.
Hi Watson,
Not many people appreciate the beauty of greeny and windy environment. I understand last week there is one group of professional is measuring the Lucky Height Area for latest condominium development. I believe the property will be well received by the market in view of perfect location. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Hi Guru CK,
Wah, looks like the landowner of Lucky Heights, ie Faber Development may be on to something soon. Their net profit of RM40.1 million for the first nine months of this year has already matched the analysts’ earlier full-year estimate of RM40 million. Can read more about it in this link:
http://www.theedgemalaysia.com/insider-asia/153516-fabers-consensus-beating-earnings.html
Land is in short supply around Likas area and the price is at a high premium. They are sitting on prime land bank on hilltop overlooking Likas and it will be a matter of time before they start Phase 2.
I come to know they are already building super high-end semi-detached houses costing more Rm850,000/unit behind Taman Hilltop, Kota Kinabalu.
Maybe we can buy their share??
Thanks for your sharing.
Would you buy a subsale property even if has appreciated by 20%?
Previously launched at 400k, now 480k 2 years later. Location is good for rental income in the future.
HI,
The same question I would like to ask you. Will you buy if the property is not appreciated for the past 2 years? I dont think you will. Appreciation is part of the growth. 20% increase in property price within 2 years is very normal and if the rental is still good. Why not..Accumulate more this kind of property. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
dear CKWong,
thank you very much for this website.
im thinking about getting an almost fully furnished studio unit at Hartamas Height Kepayan along jalan Lintas.
it fetches a whopping Rm182,888 for a 556 sqf studion unit, it translates in to rm329 per sqf. and also with an estimated maintenance fees of rm0.22 per sf.
the developer is Chang Cheng Realty ( i m new to KK, thus i dont know what is their reputation).
The unit im looking at is sitting at 4th floor, when completion, the developer throw in fridge, plasma tv, airconds, kitchen cabinet and so on. Which will make this unit a “ready to move in” for me.
Presently im looking at lucky height and hartamas height, i m more favoured into this hartamas height because im working in kkia, location wise hartamas wins hands up, but Rm per sqf wise , lucky height is the winner (now being offered RM170k for a corner unit). ps maintenance for lucky height is rm 220 per month.
Lucky height is fully furnished, but required some small touch up in the kitchen.
currently im renting, so im sicked of paying rental now.
sincerely, please tell me what is your advise.
thank you
Hi,
I will still prefer to have property around Likas area especially for long term purpose. You must not forget 70% of private and government school is locatedd at Likas. It will save you more expenses over the long term. Wiht more and more development happen around likas. I believe Likas will command better capital appreciation in the future. But anyway its your own decision. Just need to remind you that whatever decision you make today will affect your future. Oh ya..you got plasma TV and etc for your new condo not for free..developer pay for you first!! Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Puteri damai condo is renting for rm5500. Crazy.
Get very angry with such stupid ads.
I can forsee, the rental will eventually drop to 2500. Even koreans and taiwanese wouldn’t want to rent for such high price. Arabs are looking for units below 2k. Europeans maybe, but how many of them are in KK?
Hi,
Why so angry? My dear friend, Puteri Damai is only 72 units, Jesselton Condo only 133 units, The Peak Vista only 128 units & no more… The presentable & nicely developed condominium is KK is no longer in supply. That why the unit that having the good view, big area & fully furnish with quality furniture will definitely commanding higher rental. Normally I’m very very happy seeing the rental price increasing at the faster rate. But I never expect to recieved such rental amount under residential portfolio as rental rate is very limited. If you really want to collect higher substable rental, commercial property will help you. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Low density is one of the key factors in the “art of property investment “. Imagine, you could read on the daily newspaper that almost everyone want to sell 1borneo condo at Rm250,ooo and nobody is buying. I could imagine those seller who are using bank loan will definitely “vomit blood” every month end as there is no takers. For example, there are 800 units of 1borneo condo and it has never been easy to sell compare to 100 units of chanyai villa. So guys, before buying any properties, look at the supply first although location is another important buying factor.
I was given to understand that suria sabah 3rd floor is selling a whopping RM2,000 psf as if the shop lot is make of “gold”. I don’t have a good feeling upon entering suria as I found the interior decor is dull and boring . The lighting is dark and not lively. Unlike if you go in to Sg Wang Plaza, KL or Mid Valley as if that place had a huge traffic.Since it took 10 years to mature Wisma Merdeka, I think it will take 5 years to “wong” suria as well.
Any one has any info on the colour ful shoplots next to Shell station of Austral park?
Hi,
That shoplot is 88 marketplace. 2 storey shoplot also reaching more than 1M now..Let us see how 1Borneo and the rest shopping mall in KK perform.. Happy Investing.
You cannot Grow Land..CK Wong & My dad
Tan,
I bought a unit of 1borneo at the 23a floor. Hope I don’t vomit blood. Kinda for investment. Like it very much when I went to see the place, nice spacious lobby, 10 steps away from the shopping mall, good connecting roads to KK. My unit also has a superb view, looking down at yayasan sabah and likas bay on the left, and the ever beautiful karambunai lagoon on the right.
Most of the subsales are from investors who had entered at the launch, now already earned their 20% and wants to flee. Uptake for tower a is already full but you see subsales, occupied units about 150-200 units currently. I am quite positive about this place. As CKWong said, it takes time to mature.
Only letdown is the mall management. I hope they could find a proper person to plan and manage the shplots/ programmes there. The shops allocation are all haphazard and not well planned. you can find an eatery at any level and any corner. I went to a nice shoplot at 1st floor , located next to an eatery and you can smell frying fish all along the corridor. yucks.
overall 1borneo is good… hope more will join in.
Hi,
1Borneo has been appreciated alot since lauching.I don’t think the price going to come down unless the management is really poor. Otherwise it going to be running well but need abit more time as the population need to grow especially office base. Wisma merdeka crowd mainly depend on office crowd. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
They have a big residential area in 1borneo area to support the shopping mall, both the high rise and the vast alamesra, not forgetting the kingfisher community.
Reminds me of 1utama in PJ when its first came up in the 80s, and currently setia alam in shah alam.
For a non sabahans like me to come to KK for work, 1borneo is the ideal place to stay and play.
Hi,
Let us wait and see Joe. I’m not from Sabah either. Hope what we see is the same. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Peak suites condo rental dropped to rm1300/mth. Just waiting to see what will happen to the rest of the “high end condos”. will rental yield continue to fall?
HI Joe,
In long term whenever prices of property continue to go up, rental yield going to drop. As I mention before, property prices has hit all time high in Hong Kong but people keep buying knowing the rental yield is only around 2%-3.5%. So its a fact that we need to accept. Please bear in mind, this is part of the growing process for every developing country. Imaging in developing country, property is much much above normal working class affordability. One of my client daughter who study at Japan, renting small room at Tokyo for RM2000 per month excluding water bills. Do you know how much she need to pay everyday for her to take bath? RM4!! And this only last her for 7 minutes..yes only 7 minutes ONLY..How lucky we are right?Sometime we spend few hours inside our bathtub wasting water and time trying to release our pressure so call. Anyway nothing more important than continue accumulating property with diversify strategy and reccession proof portfolio. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Hi Joe !
Congratulation ! you bought a unit of 1 borneo condo 23a floor in such a short time , between 2 and 13 dec !
;0
Ya, now i am thinking what to do with it…. rent it out perhaps. Will probably rent it at an affordable price, KK standard between 1k- 1.2k, unfurnished (don’t tell me i am spoiling the market) but this is really the KK standard price for rentals. will be lucky if i could get 1.5k-1.8k.
What do you think about 1 borneo Super Condo?
Is it worth to buy now or wait until its completion?
Please share with me your wisdom. Thanks
Hi,
Super condo normally give people impression that the unit is high end and having fantastic view. Too bad for 1Borneo Supercondo as they are facing the mosque and surrounded by hillside. This is going to limit the tenant market. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Thank you for your insight. I heard that it has a private lift and great parking area with a garage. Since there are only 99 units, it will be more private. Compare with Tower A and B, I think it would be better investment. If you were me, which one do you think that you will invest between Tower A, B, or C.
Thanks again
Hi,
Its hard to say. Of course supercondo with good view facing sea/mountain (with not mosque view if you expect non-malay tenant) will command better rental. Tower A&B is for lower end group whereby the rental yield might be higher. I understand that they are rental for RM1200-RM1800 depending on furniture. So if you bought it with developer when the project start launching, you are making more than 10% yield. So what is the selling price for the supercondo? Happy Investing.
You cannot Grow Land..CK Wong & KH Wong
It is 750k for 2080 sqft corner unit.
Hi,
That means you need to rent out for above RM4000 per month to cover your bank monthly installment & management fees. Are you beginner in property market? Or you are cash rich person? If you are beginner, please avoid this investment. But if you can stand with huge negative cashflow, please go ahead. In additional to that, you also need to prepare so cash in hand for renovation and furnishing of the unit before you can rent out for good yield. By the way, the unit is facing where? Happy Investing.
You cannot Grow Land..CK Wong & My Dad
It is facing the sea and Mt. Kinabalu.
Thanks.
Hi,
If you are confident to get such rental in the future, then you better go ahead. I’m not interested in collecting Rm4000 residential rental. Given choice I prefer collect RM4000 commercial as the appreciation for commercial and residential are more steady and firm. Happy Investing.
You cannot Grow Land.. CK Wong & My Dad
difficult to rent out, but for own stay should be very very good. Daily dose of superb view, something only kk can offer.
Joe,
If its is for own use few millions also you need to buy. But this is too expensive cost you need to bear especially if you are young. Even you are really loaded now is the time for you to accumulate more “employees” not killing it. Happy Investing.
You cannot Grow Land..CK Wong & My Dad
Hi CK, could u recommend any painter or decorator to me please, just bought a one borneo apartment and would like to renovate the place. Thanks!!
Hi,
You can try contact this guy. Mr Tiong who have almost 10 years in construction industry. Reliable person. His contact no is 016 8329076. Happy Investing.
You cannot Grow Land..CK Wong & MY Dad
what do you think with 1 borneo condo and sulaiman condo? which one will you prefer???
what do you think with 1 borneo condo and sulaiman condo? which one will you prefer???
Hi,
Sure 1Borneo as its completed and the current shopping activity is already make it a happening place. While 1Sulaman is still under construction and took another 2 years for the tenant to occuppied the commercial area. Happy Investing.
You cannot Grow Land.. CK Wong & MY DAD
Hi,
I read thru your discussion about sabahan property market value .. while we all talk about prime area such Likas .. How about property market value in Telipok area such as Taman Putera Perdana, the developers offer RM350k above for 2,900sqft Semi-detach house…
Hi,
Semi D at that area will take abit of time. The main crowrd is from KKIP in the near future. Just look at Indah permai, they are coming up fast after Sulaman under attack last 3 years from Wong Kwok Group, 1Borneo & Hap Seng. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
interesting and thank you for setting up this blog
Hi Mr CK
Thank you for all the useful info. What do you think of the future prospective of Likas Square? Heard that it is under a new owner now.
HI,
Likas square is under “apartment” services now. The company is own by political background people. They own 70 units now and 3 is under renovation. Its cheap compare to other surrounding new development. If you buy for investment sure its good. Last month I suppose purchase one but I decided to calloff as I prefer commercial now. There is limit for residential market. Happy Investing.
You cannot Grow Land..CK Wong & MY DAd
Hi CK,
You know the abundant project just next to Likas Square previously is known as Megamall. I heard that 1 company will take over that project; so, do u think it is have a potential for investment?
HI,
I bought one commercial lot there last year when new management took over the project. But it was stop again after that. As I say Likas is going to be major commercial and residential market in the next 5 years. Never miss this opportunity to own a property within this area. Otherwise sure you will regret. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
CK,
thanks for you info …
Please let me know how I can invest the commercial unit at the Likas area (Megamall?)?
Hi,
No way to buy now until the new developer completely launching the whole project again hopefully by 1st half of this year. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi, I heard that the Qouk Group also gave up on the Megahall project as they could not sort out the land trouble with Maksak. Is that true? I went to their office last year wanted to book 1 unit of condo but they said they are not taking any booking.
Hi,
Base on my sources, the project will have much clearer picture by next quarter hopefully or soonest next month. I strongly believe KUOK Group will not give up as this is the “ONLY” largest flat land available at LIKAS. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi,
I wonder if another company will take over from KUOK Group to continue it …
HI Kathy,
I recieved reliable sources say the project to be taken off soon. Maybe next few months. Hope so as I got interest inside. Likas is the MAIN AREA so dont miss this opportunity. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
I believe there will be at least 2 condo and 2 hotel planned by Kuak group. Pre-launching price would probably around RM500-700 depending on sea view or Likas complex view. I believe is worth to purchase given that, location, 3 hotels and shopping mall.
CK, wht do u think about this price?
Rgds/AW
HI,
Likas is surrounded by 70% of school at KK and its only about 2Km to city centre. This is the growth area that investor cannot ignore. Pricing is not going to be cheap anymore. Andrew, remember last time The Peak selling for RM200 psf? Now they are commanding more than RM400 psf. So the costing of wait to buy is RM200 psf. As I mention earlier “wait and see” is the worst strategy. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Since we are in a condo discussion, i will stick to that. seems the discussion are all over the place!
One of the main condo problem that some may miss out is maintenance.
According to my valuer, the condos in KK charges av rm0.20 psf maint fee. This is way too low for ‘proper’ maint in the long term.
Further, if this is true, it does not auger well for low density condos, since the maint collection will much lesser than those higher density ones.
Another, those who bought Lucky heights must be crying. The maintenace is shocking last i saw!
Hi,
I agree with you. In common, to maintain well condominium management need to collect at least 0.40cent per sf. But imaging if you collect that much alot of people will not buy any condominium anymore. Lucky Height is very special and I can consider its the “ONLY” Greeny condominium with very low density that NOT many people know how to appreciate its beauty. All of the unit now is tenanted by foreigner, few Datuk’s and favourates location for Doctors. I hope the developer will NOT developer the whole place as I still prefer GREENY, FRESH AIR, WINDY and BIRD singing sound around it. LuckY Height is mainly sitting on more than 10 acres of vacant prime land that non of condominium in KK has such priviledge. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
CK,
The Inanam areas now is active for development especially for light industrial and housing estate.
So, how the potential of the condominium in the inanam area; and what are the most suitable to develop?
What about Kolombong area? Is Taman Khidmat intermediate double storey terrace house (extended quite extensively) worth to invest? (asking price RM320k)
Hi,
Kolombong is coming for its industrial and commercial development. To buy double storey at RM320K now is definetly painful if you compare to previous value. But if you compare with new development prices, I’m sure you will bought Tmn Khidmat immediately in view of good location, bigger land area and renovated unit. So its worth to buy. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
HI,
Let me ask you this, which local bank dont have branch at Inanam? Virtually all of them has the branch there, I can say Inanam is the most complete township if you compare to any other place like Papar, Dondongong, Tuaran, and Kota Belud. I presume more development of condo will happen along Tuaran BYpass highway rather than Inanam area. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi CK, We met over the Kopitian at Gaya Street. I m impressed with your knowledge and valuable information. Most importantly your willingness to share your `rich man strategies’ while most successful ppls are stingy to do so.
Based on your sharing, looks like the under construction Alam Damai
Condo should be quite potential in value appreciation upon completion. I knew it only left few lower flow units available for sales due to its view facing to the higher road level from both road accesses at Damai and Sunny Garden.
I reckon it will be a good investment even though only hard-selling units left, what say u?
Another one Condo/appartment could be the new launching by AC Advance Property or Advance Property Development Sdn Bhd. Along the land at Jalan Bundusan, exact site should be opposite of Mayflower restaurant. For less then RM200K to have a 850 sqfts apartment would be a manageable risk. Of course the traffic jam there is worsen now, but it is the cheapest alternative for condo nearby Likas school area. I seek your professional experience.
Happy Sharing/AW
HI,
If you are beginner in property investment, please proceed with your plan on Alam Damai, Bundusan apartment and etc. But I don’t think you are!! You should do something big..invest in more challenging portfolio. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi CK,
R u hinting me commercial or land investment.
Lets plan to meet up this few days, I m excited to know more.
AW
CK,
You presume that will be a llot of condos to be develop along tuaran bypass.. what are the price it might be offer per sq.ft?
Hi,
The costing of construction will continue to rise. I just have a tea break with contractor and he told me steel price will rise after Chinese New Year. This round rising going to be more firm than previous as our economy is stronger than last 18 month. So wait and see might not help for those who keep hoping dropping in property prices. The price will be in the range of RM250-RM400 per sf. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi CK,
For the Apartment if the facilities that to be provided almost same with condo .. is that the price range would be the same?
HI,
Normally there is different between condominium and apartment. Its all depend on location,surrounding development and view of the properties. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
wht do u tink of a Rm 144psf apartment. interior very nicely renovated, decent location. On top of a shop. the ting is, fine if we got the dough to just buy property we like, wait it appreciate eventho slow for apt cuz its pretty wat inside. but case like tis (that we’r not very rich), if its not for rental either no point buying huh hee
why dont u put a FAQ about ur self like those 10 questions posed by STAR readers to selected VIPs.
few of the questions im interested to ask u – for fun, is that, if u were to choose a field all over again, say after form SPM/college…WHICH field wud it be. secondly, HOW would u do things differently from what u hv done/achieved today. interesting? lol after a days hard work, why dont chill alittle bit from the usual property chat,no? hee
HI,
RM144 psf is cheap if the location but this is shop apartment. We have at at Beverly Hill area, Changai Villa and Bundusan area. Not very famous at KK. Mostly at Kuching. The appreciation going to be veyr slow but its good for rental collection especiaslly lower end group. Your idea on FAQ is good thank you very much. I Will do it when I got enough. Happy Investing.
You cannot Grow Land..Ck Wong & MY DAD
CK,
let say somewhere in area Inanam .. is that RM273 per sq.ft worth to buy and it might be in this 1 or 2 years from now .. is it the price relevent to the market?
Thanks.
HI,
I heard there is one developer going to put up mix commercial and residential somewhere around Kensintong Height (Aida W Project. RM273 psf is not expensive looking at current market situation but if for rental market is abit tough as the commercial and school is not many at that area. So its depend on how you look at it. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
“……Another, those who bought Lucky heights must be crying. The maintenace is shocking last i saw!”
As I know, the mgmt fees is Rm220/mth for Lucky Heights. But can you find another residential property in entire KK with so much greenery in the surroundings? Green is the in-thing and even developers are going into the green-concept. The whole area encompasses about 10 acres – so if you divide the mgmt fees by the acreage, it is nothing because you get to enjoy fresh cool and natural air all day long. I went to survey the location one morning and you can feel the difference. There are birds singing, monitor lizards, and even monkeys near the area . Can you imagine this – you cannot find this anywhere in any other place in KK. what more with a fantastic view of Mt Kinabalu! The tenants here are mostly professionals who want a quiet and green natural place to call home. I do not think they can all be wrong. Even with the way it is now, the price per unit at RM220k +/- or Rm210/sq ft is still cheap considering its prime location in Likas and situated on hilltop. Firstly, if every owner can come up with say Rm10k and they collectively just repaint the whole building and install more lights on the lobby area, the value can easily shoot up to Rm300K because the surrounding Radiant Heights/ masionette etc are commanding over Rm400K/unit. Secondly, should the landowner ie Faber Development decide to start phase 2, they will definitely improve and renovate the existing Lucky Heights to attract new buyers. Either way, you are a winner if you can get a unit because price of property will just keep on going up – especially if the location is right. Just my humble sharing that we should just go ahead and do what need to be done and not wait because in property, there are no mega-discount sales.
Hi Mr CK Wong
What is your opinion regarding the Likas Square Condo, there are now a few units for sales as advertised in newspaper, around 1200 sq, asking price RM330K to RM400K? Is it worth investing? The purpose is for renting. Heard that the rental collection there is around RM1200 to RM2000.
Nice view, signal hill view or bay view depends. Very good location. But the thing is the building was constructed 11 years ago if not mistaken, external looks not too good due to weary painting.
Thanks very much for your advices.
Very good and interrestiong blog, Jia Yu!
G
Hi,
I was there also before chinese new year. If you compare with all new development prices I think you better buy this. If you compare with previous owner price I think you will not buy simply the prices has when up so high right? I think this area should be good as this is near to school and city. FYI, there is one local group has acquired more than 60% of the unit for services apartment. So I dont think there is management problem in the future. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi Mr CK Wong!
Thanks very much for your prompt reply.
Happy investing too!
Dear CK, thanks for your sincere sharing… Do you know any other new condominium project coming up in kk/likas area very soon?
Thanks
HI,
It will be focus development area this year at Likas and Damai. Just wait..Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Good day Mr CK Wong,
Would like your opinion regarding some condo/apartment in signal hill. This is regarding peak suites. Do you happen to know if there are any limitations on the type of shop that is allowed to operate there in the area? The residential unit is directly above shops and I am worried about noise in the area.
There have been many advertisements in the papers and agents regarding the sale of the units there for about 360-400k and is the reason why ppl are selling is that they are already getting almost 80k back since the launch? Or is there a worry about earthquake because there is another block of 20storey condo right above it.
Is it possible for you to give a rough estimate of the appropriate value of the units there? Would appreciate it very much.
Thanks
Hi,
I cant give you the real value of the condominium at this area. But I know it will not easy to depreciate even though there is more new development nearby soon. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi, CK.
Would like to seek your opinion that I intent to purchase 2 units of Alam Damai Condo at the price of RM380,000.00 (Sub- sales) for a size of 1,091 sqf. equivalent to RM348. psf. this condo is still under construction. What is you comment and recomendation? would this value to appreciate again after completion. So far, as I know the condo market price in town has already increased up to RM450 – RM600 psf. Especially condo like Peak vista and KK city waterfront.
Thanks.
HI,
Investing at Alam Damai condo will not be a bad idea. But I can’t foresee how far up it will climb. The rental market going to be limit at RM2K permonth depending on the furniture and fitting and it will take you at least 1-2 years to see stable rental market. It will be longer for you if you bought it at RM380K. So my advise, better buy from subsales which sell between RM300K-RM350K. Your chances to win will be more. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi, CK.
I would like to seek your opinion that I intent to purchase Cyber City 2 Apartment using my government loan. Should i take the 2 bedrooms or the 3 bedrooms. What is your opinion about Cyber City 2?
Hi,
I prefer 3 bedroom. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Thinking about buying in hartamas heights condo lah… but also so many other choices. The price is not exactly low but the quality inside is good also come with plasma tv. Does anyone know how the sub-sales go and how this property has been appreciated since it was launches…
Hi CK,
I heard there is 1 company will takeover the abandon Megamall project …
HI,
Yes it was took over by new group. That how I come into the picture. I think the potential for that location is tremendous. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
hi..CK
“the potential for that location is tremendous” if only the project managed to be completed!!!! BTW,a lot of “Powerful people” is looking to “swallow” it..
and, if u have locked into the property b4 2008, on paper already making profit by $500/sqft….lets hope..to be completed asap…
Hi
I stay somewhere nearby the abondon Likas megamall project, if i am not wrong, the project itself was started about 4 yrs ago, and i remembered i was sharing this news with my relatives coming back to Malaysia for holiday and told them that next time if they come back to vist us after 3 yrs, we should be able to go shopping there together.
Pity it didnt work out well. I didnt invest in that project. But still feel very pitiful as this is such a beautiful piece of land…