Monday, August 3, 2009

Verticas Residensi vs St Mary Residence

Two high value projects in the KL City Center. Which one to choose?

click on below map for clearer and larger view:

St Mary's wins hands down. As you can see from the map above, St Mary's is nearer to both Pavilion and KLCC. It's more central. The block where St. Mary's will be built is also the last open parcel of land for residential development. However, St. Mary's access can be a problem. Jalan Tengah is a one way street (often clogged up) and the other access via Sultan Ismail is also a one way. Verticas's road frontage is a dual way and you can either come in via Raja Chulan or Bukit Bintang.

Land Title:
For a residential project, Verticas wins. St. Mary's is a commercial title land which means higher rates. However, apparently the developer E&O-Lion JV has negotiated a residential rate for the electrical utility. Sewage treatment, water and quit rent remains at commercial rate but should be negligible amount for those who can afford to live here.

Floor Layout:
I'll find time to post the layout pictures here. If you ask my honest opinion, Verticas has the best floor layout. All rooms, including most bathrooms have windows which makes it bright and airy, and liveable. Tower A has 4 lifts serving 5 units per floor. The kitchens come in Wet and Dry ala Meritz which makes it suitable for own stay type cooking. The only kink is, no balcony but one can venture to the 27th floor common observation deck for some fresh air. St Mary's layout is a beautiful combination of retro and modern. But it's not suitable for long term stay. None of the bathrooms have windows. I think bathrooms are supposed to have natural light for hygiene and proper ventilation without having to rely on electronics. The +1 in the 2+1 room unit have no windows. The kitchen is open, so your couch will smell of whatever you had for dinner last night. But St Mary's have a nice balcony...

Verticas comes with a 20:80 financing package. High initial entry. But developer also pays the 1st year installment - so after the initial 20% outlay, you pay nothing until the 5th year.
St Mary's 10:90 package is more attractive but no 1st year installment paid. But that amounts to little over RM60k extra discount which is pocket money to those who can afford to live here.
The slightly higher price of St.Mary (almost 10% higher) is in the land premium because of the location. However, if one enters early, E&O offers up to 15% discount while Wing Tai Asia is only offering 8% discount although Wing Tai is threatening to reduce that to 5% if I don't book by this Friday.


newbies said...

hi sin leong

Have you bought any of these two? verticas or st mary?

I am seriously thinking of buying verticas.

thanks for sharing.

Anonymous said...

hi sinleong, came across your blog while net surfing for st mary residences. would one make money investing in this property say 3-5yrs later?

sinleong said...

as i'm vested in this project, i should say yes. but... no. you would make money if you were one of the 1st buyers. at today's prices, i understand the minimum is RM1200psf, it would be difficult.