Likas Continue To Shine

by CKWong

Just to share with all of you news from thestar.com.my as at 12-07-2010..

Soam said IJM Land was also targeting the growing Kota Kinabalu market and planned to launch an exclusive condominium project, with a panoramic view of Likas Bay and Kota Kinabalu city centre later this year. The 8-acre project has a GDV of RM160mil.

Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

button Likas Continue To Shine

Related posts:

  1. Kolombong will continue to shine
  2. Promising Likas
  3. Likas Indah – New Landmark for KK
  4. Will property price in KK continue to surge? (Part 1)
  5. Continue rising of property price in K.K (Part 2)

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{ 37 comments… read them below or add one }

ahbing July 12, 2010 at 7:54 am

Where can I get more information regarding this project?

Reply

CKWong July 12, 2010 at 8:17 am

Hi,
So far nothing yet. I heard the whole projoect expected to be lauching within the next 6 month with selling price not less than RM600 psf and unit size is more than 2000sf per lot. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

AS July 14, 2010 at 5:45 am

Hi, ck wong. totally agreed with you about likas properties. Thank you for your constant updates!!! :)

I need to get you expert opinion!

I was offered a unit in maisonett condo for RM400k as well as a unit in luyang villa for RM380k. Which is a better deal for investment?

Reply

CKWong July 14, 2010 at 8:11 am

HI,
I still prefer Maisonett as I’m staying at Likas area. Furthermore IJM Land Project is just next to Maisonett!!! Luyang Villa is built above reclaim land. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

AS July 15, 2010 at 5:05 am

Thank u ckwong.

Just to ask further, do u know how much rental for Maisonett condo now? is 400k too much for the unit?

Reply

CKWong July 15, 2010 at 8:09 am

HI,
Its all depend on your furnishing and floor. But I think it would be in the range of RM1800-RM2200 per month. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

mike July 15, 2010 at 12:46 pm

Hi AS, Hi Ck,

this is just my personel opinion ya, both are ok, but for me i will choose luyang villa. reason being luyan villa is closer to town and it is landed, it is he first in old town kk to be guarded and gated which is all the rave nowadays. new town kk im referrig to sulaman area lah, just opinion. i have a lot of friends who have luyang vila and easy to rent. howver to get good tenant would need some connection such as korean agent and such.

Reply

CKWong July 15, 2010 at 7:05 pm

HI,
I always buy property that surrounded by alot of vacant land. This is to protect our future value as the vacant land will not be forever vacant land!! When developer start to develop the land sure this will stablise the existing value or might help to pull up the value as well. Just like Api Api, I bought it for RM124psf, waterfront new project is selling for RM700 psf. When waterfront completed, I think Api Api can easily valued half of waterfront selling prices. Another example, when I bought my Lucky Height at RM96K @ 1050 sf, IJM Land is expected to lauching one project nearby end of this year selling for RM600psf!! I dont think my condo value cannot fetch RM250-RM300psf by that time!!! Its worth think it over..Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

AS July 15, 2010 at 3:27 pm

Thanks mike. Very much appreciated opinion from you and ‘sifu’ wong. Will seriously look into it!!! Thanks

Reply

joe July 16, 2010 at 7:01 am

CK wong loves a surrounding vacant land. This is not without risk. At least in west malaysia, surrounding vacant land can be owned by different companies/individuals that have very different ideas. After all, we are all here doing business, right?
Here we have vacant land being turned into
1. exclusive ( high class) crematorium/ burial plots,
2. low cost high rise apartments (you dont have this in KK yet) or even
3. 6 lane expressway running just 50m from your front door, or even
4. railway line (LRT) running across the land.
So just beware and know what we are buying into.

Reply

CKWong July 16, 2010 at 8:17 am

HI,
That is West Malaysia..I dont think it will happen in Likas area..Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Gwen July 17, 2010 at 6:30 pm

Hi Joe,

I guess u r not really familiar with KK, let me answer u 1 by 1:
1. We already have, their name is Nirvana, so will there be another high class crematorium I dun think so. Even the Foo Chow Association here also buy a vacant land to turn it into burial plots, what I heard is the land is just beside Nirvana. Dun underestimate the people in KK, they r rich, u may come to have a look a around.
2. Our low cost high rise apartment is 11 storey high with lift, the price is RM 150,808 & above, low cost? cheap? u decide. Apartment like Miharja(KL) only sell for 82K last year.
3. The expressway is done by the State Government & I never come across which expressway is only 50M in front of house in KK, and the people here no need to pay “TOLL FEES” & they never heard of “PLUS”. Frankly speaking, we only have Highway, yet to have Expressway. But State Gov in Sabah they will give u compensation when they going to acquire ur land even just 50M in front of ur house, before they gonna build something on it.
Are this happen in West Malaysia???
4. Eventhough KK have the 2nd busiest airport after KLIA, but to build LRT is up to the Federal Gov based on the population, KK only have 900K people(based on wikipedia), a lots more cities in Malaysia population more than this, so, will they build here is just a question?

Well Joe, even we live in trees, but we use lift to go up (something like in Avatar), even we are not that populated, but we have the highest mountain in Malaysia, even we have a very beautiful sea, but we never forget we got the most beautiful island in Malaysia. Maybe our population is mix of all kind of Races, but we are the most friendly people in Malaysia.

I ever reside in KL, Kuching, Miri & now KK, they are all City, so if u ask me whats the different, I can only tell u that come to KK, INVEST IN KK!

Reply

Fochowkacheng July 16, 2010 at 9:19 am

Nice Post

Reply

James Parry July 16, 2010 at 2:41 pm

Dear CK Wong,

Great blog you got going on here!
My name is James, and I currently am based in Hong Kong.
My dad (who lives in the UK) and I have been considering the option of buying a property in or around KK. Though we have visited the area several times, we are not so familiar with the property market over there. Would you be able to provide some guidance as to areas in KK as well as areas around KK that you think would be good places to invest? It does not necessarily ahve to be in the centre of KK, it can be areas nearby that have decent access to KK. We are looking at a modest family home, somewhere we could come to on holidays for friends and family.

Any advice you could provide would be much appreciated!!

Cheers,

James

Reply

CKWong July 16, 2010 at 5:47 pm

HI,
What budget you are looking at?So its your holiday homes? There is alot of holiday homes along Tuaran to Kudat for Holiday homes especially for MM2H program whereby government fully encourage foreigner to come in. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

mike July 17, 2010 at 6:19 am

hi there james. as ck mentioned, there are a few holiday homes along tuaran. i have some which you might like.

Reply

mike July 19, 2010 at 10:16 pm

morning cifu CK. beside KK, im concentrating mostly in kolombong area. In your latest article you mentioned about metro town. This one is strictly for rental is it? And what’s your opinion on Taman Canggih subsale? is that area got pontential? to hold a few more years before sell back

Reply

CKWong July 20, 2010 at 2:00 am

HI,
Tmn Canggih is not matured in terms of their rental. But at the back of Tmn Canggih will be developed into another commercial ie shoplex..I think the developer might launch it soon. So it worth to keep for rental and capital appreciation. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Kurios August 15, 2010 at 2:49 pm

i live in inanam. i think tmn canggih gonna take quite awhile to thrive but metrotown is sure gonna flourish at least we dont hv to drive all the way to city mall or lintas plaza for hangouts anymore. we can just hv metrotown in our backyard for entertainments lol

Reply

CKWong August 15, 2010 at 8:12 pm

HI,
Yes I agree. The rental offer is reasonable with Ground not more than Rm2500pm while the whole block not more than RM5K. There is 312 units of shoplot there..and I heard more than 40% has been rented and HSBC might open a services centre there..If there is road linking to Radiant Court, Lucky Height & future Ijm Land project I think this will push up the value more. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Eric July 22, 2010 at 7:06 am

Hi CK,

Do you have an email that I can contact you at?

Regards,
Eric

Reply

CKWong July 22, 2010 at 8:44 am

HI,
ckwong@investkk.com

You cannot Grow Land..CK Wong & MY DAD

Reply

Investor David July 25, 2010 at 6:50 am

Just curious, but what does GDV mean? Is it the gross development value?

David.

Reply

CKWong July 25, 2010 at 7:56 pm

HI,
Yes..Thi is jorgon in property. Happy Investing.

You cannot Grow Land.CK Wong & MY DAD

Reply

SK August 16, 2010 at 1:58 am

Metrotown is off-limits to investors. You can only rent there to do business. But the spin-off effects will push the surrounding land value up, so properties in the vicinity such as Radiant, Masionette, Lucky Heights will benefit. Especially so when they link up these areas with a bypass road.

Reply

Chin August 28, 2010 at 2:39 pm

Is RM 600 sustainable for “highend’ condo in KK, ie Peak/Waterfront/Marina.
Also , what is market vaue for Gaya St Shops and Kg Air Shops -4 story. I heard Gaya transact at 2.9M intermediate and KG Air at 2.3M

Reply

CKWong August 28, 2010 at 8:56 pm

hI,
Gaya street will continue simple because they are the main banking street.I believe Gaya will continue to grow and the middle to upper class tenant will move in due to higher rental expected. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

chin August 29, 2010 at 2:53 am

yes, think gaya st,as you can see how jubilee is transfromed by mr tan. continue cos is the Banking Hub, and also new hotel cmg in where Nosmal ct was. Do you give value for jln pantai to jln Tugu kg air till high court round about. in mudah recently, 3.5M corner 5floor. you give value for this. corner sedco was sold 3.1M renovated hotel.
most these buyers are malaysians from brunei. what is the curnt yield for kk town.

Reply

CKWong August 29, 2010 at 6:55 am

HI,
Previously rental yield for commercial in KK is around 7% but lately I think it drop to around 4%. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

chin August 29, 2010 at 3:08 am

wat is the estimated lease remain for gaya/pantai/kg air area

Reply

CKWong August 29, 2010 at 6:53 am

HI,
I have no idea, Pls find out and let me know. Happy Investing

You cannot Grow Land..CK Wong & MY DAD

Reply

joe August 30, 2010 at 12:36 pm

What are the issues we need to look for / be aware when buying leasehold properties, below 50 years?

Reply

CKWong August 30, 2010 at 6:43 pm

HI,
Is that worth it? Residential or industrial? At the end of the day its all depend whether is it worth for you to buy it. Happy Investing.

You cannot Grow Land..CK Wong & MYDAD

Reply

joe September 2, 2010 at 11:19 am

Thanks CK, for including a ‘search’ into yr blog. I searched for likas, and your article came up. TQ.

Its residential land with 42 year lease. The house is a simple s/s kampung hse with vast land (8000sft). Nice I thought, after i do it up.
Next the pricing. Would it be fair to ask the seller to absorb the cost of renewing the lease title? If he does, it will be great.
If he does not, then can I say I am buying the house at the current price of 400k + cost of renewing the lease ( about 100k) ie 500k. I am confused now. What are your views>? Is it worth it?
If 500k for the same property, at todays value, is pricey. Same area land is sellin at rm28psft, terrace intermediate d/s 380k.

Reply

CKWong September 3, 2010 at 2:53 am

HI,
There is no different whether you renew the tenure or the land owner renew. Alot of Kg owner are running out of cash that why you can wait for durian to fall.. I wont purpose properties within Bumiputra zoning. The value will be abit slow even though its a CL land..Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

james@JC September 16, 2010 at 3:04 pm

HI CK,
This ah YONG must be foreigner la,bring him to sipitang durian farm ,let him sit there …i believe he will un10 your meaning….hahahahasha

Reply

yong September 3, 2010 at 3:03 pm

>?? wait for durian to fall?

Reply

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