Malaysia Real Estate

jialat · Joined: 19 Apr 2007 Posts: 72

i think most of the VP buyers are for own stay, not for investment....but cap gain is a bonus for them....

MMW · Joined: 18 Apr 2006 Posts: 67

Hi all,

Bought VP as a future investment cause it is freehold. Don't intend to stay there because got another landed house. So it'll be rented. Sekejap renting sekejap stay laaa...

I'm working with private sector (not government servant) so no pension which i regraded as "a passive income". Therefore investment in real estate (VP) as part and parcel of my retirement plan Laughing

. When I reach 56 (another 20 years), then I will sell VP. So instead of just relying on EPF (which according to EPF statistic 90% of the money will be gone within 10 years of withdrawal at age of 56 years) and unit trust, I have another "leg" to rely on.

So guys don't rush into selling. If you can afford it, take it as retirement investment. This is real estate in prime location (Bukit Jalil) and it is freehold (not lease hold!). In the future freehold is very very difficult to get especially in town area!! Even now it cost a bomb to get freehold property in town area. So VP value will surely rocketed.

Regards,

AMIR

jialat · Joined: 19 Apr 2007 Posts: 72

moonfreeman · Joined: 23 Jan 2007 Posts: 202 Location: KL

By historic standards, inflation remains higher, the bad news for savers is it is beginning to edge up.... Crying or Very sad

The earlier of 2008, surely RE developer will increase their prices, petrol costs are rising and cost of living steeper every year. All these add up to push inflation steadily higher. And that affects the value of your savings, so it is worth considering how to protect them with your investment in property now looo.... Smile

Timing is an issue! Exclamation

_________________
铁血丹心

nurjmo · Joined: 25 Feb 2007 Posts: 114 Location: KL

heard that with property developers developing so much so fast nowadays, the market could be heading for a slump next year (becos of so many properties available and not enough buyers) so any selling/renting next year would be at a loss! Shocked

i just hope to break even on what i paid for villa pavilion. any advice?

MMW · Joined: 18 Apr 2006 Posts: 67

Hi all,

Well, Jialat and Nurjmo, I don't intend to rent out to get profit. It's hard to do that unless it's a fully furnish unit. Still, then you have to add the furnishing cost....

I have to pay to the HLB RM1033 per month. Put in the maintenance fee of RM135.59 (13 cent per sf) then I have to rent about RM1200 just to get a very minor profit.

So I pursue another strategy, that is to ensure that the unit is well rented year in year out. In other word fully utilised. So put in a very reasonable rent rate. Maybe about RM800 plus Kitchen Cabinet and plaster ceiling Razz

.

Although I still have to fork out RM400 per month but, hey looking at the bright side, I just have to pay RM400 per month to get the 1043sq ft freehold Apartment unit with condo facilities at Bukit Jalil! Furthermore the rent may go up after a few years Laughing

I intend to fully paid my unit within 10 years to maximise my ROI. The longer I have to settle the loan the more I have to pay the interest. In the end, if it takes too long to settle the loan, by the time I sell the unit, it may not even break even the TOTAL money that I have paid to get the unit. So a little bit of managing my finance is needed. I hope by the time I sell the unit in 20 years time it will be all profit. Very Happy

AMIR

nurjmo · Joined: 25 Feb 2007 Posts: 114 Location: KL

some pics taken of villa pavilion today - didn't get to go inside, so only outside pics.

looks like outside work on the blocks is done

villa pavilion guard house - curious why there appears to be two of them Confused

road (not tarred yet) leading to villa pavilion

progress on link road - looks promising - maybe 2 lanes??

Malaysian · Joined: 04 Sep 2005 Posts: 140

Malaysian · Joined: 04 Sep 2005 Posts: 140

It's very simple in the end. If they wish, the potential buyers can always buy developer prices for Villa Park, or some other new apartment/condo in Serdang area, since they expect "developer" prices. But:
- They will have to wait 3 years
- Risk of non-completion
- Far away from link road
- They have to pay for interest costs during construction period (unless the developer has 0% plan)
- etc etc etc

Supply and demand.

I'm of course referring to the situation when VP has been completed with CFO and keys given. In our case, this is still not 100% so we are still dealing with the risk as we speak. Nothing is certain yet, but hopefully the developer will not fail us.

eugene jk · Joined: 18 Nov 2006 Posts: 251 Location: Kajang

Hi nurjmo, were you there today? I was there around 12pm afternoon. Walk in both blocks (A and B). Block B seems to have faster completion compare to block A.

How long do you think we will be getting CF after getting our Keys and Vacant Possesion?? 3 months?

nurjmo · Joined: 25 Feb 2007 Posts: 114 Location: KL

Hi eugene, yup, was there yesterday around 6-ish or so. Think block B would be faster than block A cos it was built first. Spoke to Ling @ Villa Park and he said that completion would be end of the year and CF would be early next year, VP after Chinese New Year.

Would like to verify this with all the sifu here - are we allowed to sell off properties under construction? What paperwork and legal stuff would be involved? And wouldn't you be able to get a higher price for the property after VP? Thank you in advance. Very Happy

VPVP · Joined: 18 Nov 2007 Posts: 3

Overall, i'm very satisfy with the apartment configuration and the 'penthouse' view. But the drawback is the water leaking issue in future. Maybe the contractor will able to just paint off the watermark and worry it will re-emerge again. Any advise? Confused

nurjmo · Joined: 25 Feb 2007 Posts: 114 Location: KL

Hi vpvp,

Welcome to the forum. You got the unit next to mine. Very Happy

Sorry can't advise much on whether you should screw the deposit or ignore the significance of the watermark. Being the unit directly below the water tank means that you would need to be extra diligent about this type of thing. Having said that, I think watermarks are a fairly common prob, even among other units (not just this development but others too).

If you choose to proceed with the purchase, there is an 18 month period where the developer has to rectify anything wrong with your unit so you could include this issue in your complaint (be sure to include pictures and clearly mark the problem spots you're referring to).

As to whether the developer rectifies problems properly, perhaps the best people to ask would be the villamas condo owners - they have a thread in the residence associations part of this forum. Another useful website for you to check is sri putramas site - .://..sriputramas.info/checklist/01_Intro.htm

Hope this helps. Good luck. Very Happy

Musicgal · Joined: 07 Aug 2007 Posts: 210

gentoo · Joined: 17 May 2007 Posts: 256

watermarks at the ceiling??

jialat · Joined: 19 Apr 2007 Posts: 72

jialat · Joined: 19 Apr 2007 Posts: 72

VPVP...if i were u i wont buy it.... Rolling Eyes

VPVP · Joined: 18 Nov 2007 Posts: 3

Really thanks for the prompt advice Smile

really glad that the forumer here is so helpful...

BTW, asked the Kim Realty guy and they clarify that the top floor (penthouses) ceiling maintenance after the 18 months warranty will still be under the responsibility of the management. Justification is that the ceiling is also the floor for the tank which is a common area. Not sure whether this has been spelled out in other penthouses SPA?

Just for the tips of other penthouses owner, maybe can make a short trip up the the rooftop for a preliminary inspection (of course have to jog and sweat a bit lah). From my observation, there will be some low corner which is potential to trap water. And there are some gaps under the tanks and I'm not sure how the water will be drain off from there.

Musicgal · Joined: 07 Aug 2007 Posts: 210

Hi VPVP,
When i bought my unit (14th floor), the sales person also mentioned that anything above the ceiling will be bear by the management. Therefore, i've more confidence in buying the highest floor. In addition, the ceiling is concrete ceiling, which i hope it won't absorb too much direct sun heat. Also, 1 of the advantage of highest floor would be this unit won't have any piping @ the kitchen & toilets. Most important is they gave me the upgraded package with 5% discount.. Laughing

KSWS · Joined: 29 Dec 2006 Posts: 166 Location: Kuala Lumpur

Musicgal, i think you dont need to worry so much. Actually, all is depends on the works of the constructor.

I staying in top floor before and din found any problem for leakage water or...etc.

jialat · Joined: 19 Apr 2007 Posts: 72

IMHO....i think it is depend on your LUCK....experience talk, leakage problem is a big issue for an apartment especially top floor coz the water tank just on yr top, u are the only one who are taking the high risk for water leakage and it is NO FUN at all........anyway we hope u r the exception....

im really hope the management said they will maintenance after the 18 months warranty is not just a sales talk...

Times is a good witness....VPVP, dun listen to me or any rumours, just make yr own observation and decision....anyway, its just my humble opinion and im not trying to hurt any one of u all.....

GOOD LUCK Wink

Musicgal · Joined: 07 Aug 2007 Posts: 210

hehehe...called VillaMas to 2x confirm about the ceiling thingy. Yes, the maintenance above the ceiling of all units @ the highest floor will be bear by the management even after 18 months warranty. Feel a bit relief Laughing

Any bad response from highest floor VillaMas owners on the workmanship? As i know from their forum, no major defect on other units.
Another issue, does anyone know, where will be the main garbage dump within our apartment compound? No indication on the floor plan.

MMW · Joined: 18 Apr 2006 Posts: 67

Hi gals and guys,

Please check your windows and sliding doors. Make sure that they can close properly and can be locked. After locking it try to push it. Make sure that it is tight and not 'goyang'. If it is 'goyang', rain water can seep in when the wind blows against the window. When it is locked make sure also that there is no space between the windows and its aluminium frame.

I've checked mine last week and found out that one of the windows for the master bed room toilet cannot be closed. After much probing I found out that there was some cement residue outside the windows which prevent it from closing. So one for the complaint form after getting the keys... Laughing

Regards,

MMW

MMW · Joined: 18 Apr 2006 Posts: 67

Hi guys and gals,

1043sq ft goes for RM205K!! Shocked

.://..iproperty.com.my/property/listing.asp?pid=78359

Regards,

MMW