Comments on: Less favor over New Constructed Property

By: CKWong

CKWong — Sat, 15 Aug 2009 12:36:07 +0000

Fatduck,
To say “hello” for the apartment now might be too late. But if you are the first buyer then its OK as your costing is less than RM180K. Now is the time to say “good bye”. Furthermore I think workmanship is not the main problem. The main problem is when the property going to be matured. This might took a lot of miracle to happen. So think twice when you start invest. Happy Investing.

You cannot Grow Land.. CK Wong & KH Wong

By: fatduck

fatduck — Sat, 15 Aug 2009 11:03:59 +0000

What do you guys think about the tower A,B and C(prince Tower) which is completing soon by next year in 1 Borneo? I worked as a part time in an auditing firm and i can tell you the 3 towers are nearly sold out. Do you think it is a wise decision to buy the apartments in 1 Borneo? As what i can see, the workmanship in 1Borneo mall itself is not that good. Take for example, the toilets are not nicely done with cracks here and there. Some of their mall tiles are cracking too and if you notice, they are doing touching up here and there. The most obvious is that there are still many vacant shops in the third floors. Going back to the tower thingy, is it still worth to invest in apartments that have bad workmanship even though the location might be good?

By: Azlan

Azlan — Tue, 28 Jul 2009 14:51:16 +0000

Hi Yong ,

I surerly will If there’s anything come up! I assumed we are talking about condo. For condo units that can fetch that kind of prices ( 2000/3000 per month) are only a handfull as you have mentioned most of them in your comment dated 25 july. Tenants that can afford to rent these sort of units are for short term like 1 to 2 years and mostly expat, consultants and senior managers. Most local can’t afford these rental. Your take home pay need to be at least 10k or above . Therefore it for a very niche market.
Condo lifestyle for local have just started in about 1o years time with Radiant and The Peak. People are just begining to enjoy it especially with the retirees . Since it is gated , all they need to do is to lock up the door and fly AirAsia to wherever they want and need not have to worry about feeding Norman (the pet dog) and just leave the cactus by the window for the Sun.

By: CKWong

CKWong — Tue, 28 Jul 2009 10:24:37 +0000

Yong,
What Azlan say is true. You will be suprise the rental market for KK property might be better than KL. Imaging fully furnished condo at Jesselton condo can fetch up to RM5000.00 rental permonth with pruchase price of around RM630K. Which mean the gross rental is about 9.5%-10.5%. The tenant list mostly foreigner from UK, Japan, US, Singaporean and HK. Happy Investing

CK Wong & KH Wong

By: yong

yong — Tue, 28 Jul 2009 04:34:55 +0000

Azlan, if you have any other promising projects just keep us informed.
I sometimes wonder if KK people buy for own stay or for rental purpose. Who are their target tenants if these are high end properties fetching 2-3k/month rental ?

By: CKWong

CKWong — Mon, 27 Jul 2009 10:34:22 +0000

Hi Yong,
Nothing more than continue sharing of experience and resources that we currently have. Happy Investing

Ck Wong & KH Wong

By: yong

yong — Mon, 27 Jul 2009 10:19:01 +0000

Gosh, I am losing out here, staying so far away… We hardly get news on the internet about the up and coming projects in KK. When I search on “property sabah” , neither do I get any news about new launches in KK. Most of the property news are on Peninsular Malaysia. Sabah and Sarawak is left out….Maybe CK wong can help us out here. Thanks.

By: Azlan

Azlan — Sun, 26 Jul 2009 13:31:45 +0000

Hey guys !

Just to add 1 more location. SBC project at Peak. Peak suite when it was launched , all the uints were taken up within aday or 2 sold by developer at around 225 to 230k per unit. Today the just completed units are trancsacted at 330 to 350k level. A woopy 100k profit in less than 2 years. Similarly the Peak Vista , a lesser unit block (128unit) than The Peak launched on second half of last year. Units are transacted now with a profit of at Rm100k in less than a year. For higher units some firsthand owner may hv just paid 10% of the Purchase price. So you are talking about 190% profit.

The key is knowledge of the location and who is the dveloper are important factors plus the limited units makes a big different.

So buying new units are not all that bad.

Love this blog ! You guys are getting more specific !

Cheers

Azlan

By: yong

yong — Sat, 25 Jul 2009 15:39:07 +0000

Shirley, I didn’t hear about Jesselton until about a few months ago when I came back to Msia. I was shocked to see places like bayshore, jesselton, radiant etc all fetching such high prices. I actually thought there was only one condo in KK- the marina court. Ha!
Anyway, congrats. You did well.

By: CKWong

CKWong — Sat, 25 Jul 2009 02:16:57 +0000

Shirley,
Congratulation to you. At first when Jesselton Condo was promoting, I was not really confident on the future potential of the condo until recently when i
saw the price transacted I was regret but nothing can be done now:(. The price of condominium in KK was fantastic. Shoplot in KK is always a good buy
for rental collection. Despite slow fill up at KK Times Square, but they continue to command good rental yield of about 8-10%. Some rich people of Sabahan is
flooded with cash. So don’t worry. On average 70% of rental collected on the whole block of shoplot is coming from ground floor. So the rest of the top floor
commanding less rental yield. So far I still haven’t add any shoplot into my portfolio which I love to have it. If can I will only buy 2 storey shop lot or ground floor
alone only. Happy Investing.

Ck Wong