And up from its ashes, will rise SixCeylon...
It is a Freehold project, expected to be completed in Q4, 2013. They are going to have just over 200 units over 33 floors. There will be 8 units per floor, serviced by 4 lifts.
The sizes and prices are:
Type D 696sf - 1 bedroom intermediate units (beige colour below) starting from RM577k to RM732k
Type B 837sf - 1+1 bedroom intermediate units (blue colour below) starting from RM690k to RM866k
Type C 1200sf - 2 bedroom corner (red colour below) starting from RM960k to RM1.2million
Type A 1555sf - 3 bedroom corner (green colour below) starting from RM1.25m to RM1.5million
interesting...
From the plan above, it seems the smaller units are all facing Angkasa Impian II. Despite the less desirable view, these are expected to be sold out early. The more desirable views are the Type A and Type B, especially the bottom corner which will have a dual KLCC and KL Tower view - and an added bonus of the red-tiled swimming pool view right beneath.
The idea is somewhat similar to the Library resort in Koh Samui... (have we anything original in KL yet? sic..)
The hanging kitchen plus all other white goods are provided while the rest of the unit will be delivered unfurnished. There appears to be a show house somewhere, perhaps will be paying that a visit soon.
While it is tempting to snatch a unit, especially the Type B 1+1 bedroom, I am mindful of the fact that one has to price the rental above RM4000/month in order to make ends meet. The market for this range of rental is a bit saturated and judging from the performance of Idaman Residence's own 1+1 units and nearby Somerset's 2 bedroom units, it is going to be very challenging..
There are also a few hundred 2 bedroom units coming up next door at Wing Tai's Verticas which will see punters pricing their units from RM6k onwards. Currently, Somerset's 2 bedrooms are struggling to fetch tenants at RM5500 to RM6000/month and with these more modern and luxurious units entering the market, the going will get tougher.
.
P.S. All pics above are courtesy of IP Global who is the marketing agent for SixCeylon and The Library, Koh Samui
71 comments:
I'm intending to purchase a unit...
Hope I'll manage to...
Concern about the returns but hoping economy will boom in 3 years time...
apparently they are releasing the units bit by bit... i cant verify this but the sales agent claims it is 85% sold now. somehow, i find this is far fetched or it could be that bolton's staffs snatched most units with huge staff discounts.
called up bolton and they asked me to fill up the registration form for sixceylon.
however, she explained to me that i'll be in the waiting list.
what does this means?
is it fully booked already?
anyone knows the story behind this?
i think it's because there is no official launch yet. an agency called IP Global has secured some units from Bolton to sell and they are now selling these - i guess, maybe as a preview. i got an email from IP Global, possibly because i registered with Bolton some time ago. i can't think of anywhere else they get my email address.
Hi, could u kindly give me the IP global contact and email.
Would like to know where the show unit or how abouts to get one unit?
THanks alot.
thanks sinleong.
so i guess bolton is selling sixceylon via agency instead of going direct to potential buyers. or may be this is for a number of units only.
i just wonder why bolton has decided this way and when will be the launch date for public.
ng - you can go to www.bolton.com.my for the details but as i said, you can only register for now and they'll put you on the waiting list.
i find this "waiting list" thing a bit of crap. it's just creating a false sense of exclusivity. there are over 200 units for sale. why waiting list? i am sure if you offer them the money for a unit right now, they will sell it to you. last week, IP Global claims they only have 8 units blocked off for sale. i am sure if you call them this week or next month, all 8 units are still available. even if they're all sold off, wait for the next project in this area which is suasana ceylon and there are also vipod and quattro in KLCC - so many choices. and if you are really really desperate to spend your money, you can still get a 1-bedroom unit at st mary's for just over RM1m. don't play into their marketing ploy.
i like the way you put - '... if you are really desperate to spend your money...'.
makes one wonder whether it is now buyer or seller market.
anyway, i heard from somewhere that if a property is fully booked or sold off before they even launched, the appreciation would be faster. is this true? what's ur opinion on this?
well..it's really a buyers market. but good units, with good view are usually very fast gone. so, if you want your pick of the good units, you have to be fast. unless it is an en-bloc sale, it is rare these days for whole project fully sold before launch - only way this happens these days are good quality landed properties e.g. bandar utama.
What rental price do u reckon Sixceylon can go for?
the 1 bedroom RM3200 to RM3500, the 1+1 RM3800 to RM4500, the 2 bedroom RM5500 to RM6500, the 3 bedroom RM6000 to RM7500....
but all the above, you need to throw in between RM50k to RM80k worth of furnishing and ID.
in this saturated market, it's not what sixceylon should go for...it's what sixceylon can get
having read ur review and comments, i guess sinleong, you will not invest in sixceylon. am i right?
i'm less an investor... more a collector... so, won't know. let's see...
if u decided to buy, let us know ya. just interested to know ur reasoning behing the decision.
Dont understand role of IP global; are they sales agents? They claim they have bought some units/floors at a discount. They then claim to pass on the discount to their clients.
All will have to respect their fiduciary duties to clients and reputation.
IP now only have 31 and 32st,
when will the other floor open for sale?
By the way, knight frank estimates RM 3450 for the 1+1
will IP Global offer competive pricing compared to buying direct from Bolton or another agent? ie better to wait or buy now with IP?
good question...
usually no. when e&o were marketing st mary's directly, one can get between 5% to 15% discount. but now that an agent is handling the sales, not even 2%.
i am new in property... so, i'm lost of what being commented here today... can someone please explain..?
check out: http://www.iproperty.com.my/news/2325/Bolton’s-Sales-Gallery-Reflects-New-Image.
bolton claimed "...Bolton’s upcoming, chic 33-storey condominium featuring 215 units in Bukit Ceylon. As of June 2010, it is 90% booked."
can this be true?
all booked / sold via sales agents i.e. IP Global?
sinleong,
Chanced upon your blog while doing some research on RE. Must really commend you for your sharing and expanding the time in putting together this excellent blog. Keep it up! Im currently thinking of plonking down for a studio unit at St.Mary's..still going for 1k psf..but worried about economic uncertainties in the next year or two..but i just love the location that St. Mary's is on and the concept seem appealing.
thank you for your compliments. the last time i visited the st mary's sales office, they still have a few 1-br units left. they were all priced above RM1m, so no wonder the units are still available. there was 1 unit which attracted me, it is on the 2nd floor facing the weld. this unit has the added advantage of a large garden (which you can see but can't use). i was told they will plant trees and maintain the garden. but at RM1m, you must get tenants who pay RM7k/month to get decent returns. it will be challenging and near impossible in this market. but who knows in the future.
hmm point noted. Reading your posts, I assumed you've paid for one in Tower C? Got in at a good discount? Vipod, ( when they launch )will probably sell for 1k psf, wont rental on these be challenging too although the units will be smaller..
also what do u think about commercial property like shop houses and office suites?
yes, i got in early enough for st mary's.
when vipod, st mary's etc enter into the market, all will enter into a very saturated market. but as we can see, tenants are not evenly distributed. the property which has the best location that sets itself differently from competitors will garner the lions share of the market. proof is klcc comparing suria stonor (30% to 40% occupancy) and binjai on the park (90% occupancy).
investments in commercial - depends on location. and those good matured locations are all over-priced imo. so, are you prepared to hedge in new areas? back in the 90s, if you have put your money in a new area called puchong, your money would have grown 8 to 10 times. so, are there anymore?
can you please elaborate a little more on the remarks made on six ceylon and share your views?
great blog
thanks for your compliments...
there r so many remarks and so much to share. if you have any specific questions, do post it here perhaps other blog visitors or myself can respond
check out: Questions to Sinleongon Six Ceylon
check out: http://www.iproperty.com.my/news/2325/Bolton’s-Sales-Gallery-Reflects-New-Image.
bolton claimed "...Bolton’s upcoming, chic 33-storey condominium featuring 215 units in Bukit Ceylon. As of June 2010, it is 90% booked."
can this be true?
Are all booked / sold via sales agents i.e. IP Global?
What is you view on price? 855000 for B- units? reasonable
IP global only offers 4 floors; how can entire building be sold out now?
sorry to give u a relatively short answer... while i don't know the answer to your question, i also urge you not to believe everything you read in iproperty. it is after all, a property marketing portal
what's my view on the price? in a speculators market, yes seems like this is the trend. but in my opinion which is backed by the rental market, absolutely not reasonable whatsoever.
IP global only offers 4 floors; how can entire building be sold out now?
sinleong - great blog and comments on sixceylon.
1. i read somewhere that construction for suasana has continued. any idea on whether it has been launched, unit sizes and price ranges?
2. also, given your view in regards to speculator and rental markets, do you think property bubble would burst soon; especially in klcc area?
Anonymous said...
Hi all,
This is Dana from IP Global. Feel free to contact me for further info.
Sorry, Dana... no advertising in my blog.
sinleong: is this an independent blog or a marketing website?
sinleong: can you please comment on the questions on six ceylon above; there have been quite a few thx
this is an independent blog. no marketing is allowed in this blog. if any pricing info it is always approximate. i'm sharing info but i'm not helping anyone to sell anything, i don't accept nor take commissions and will always present an un-biased view in order to maintain this blog's integrity. if you don't agree with my views, u can post in the comments. i do not edit any comments, including those criticizing me unless it's vulgar and if it's an advertisment, i'll delete it.
i thought i already given my comments about sixceylon - i said, i don't know (see above).
KLCC bubble? Already burst lo... you should notice that prices have dropped about 10-15%. those of you who claimed prices have gone up are referring to advertised price - you should look at transacted price. go to the stamping office
what are the prices you have seen transacted for the four units types available at six ceylon?
i have not personally seen any transactions at sixceylon.
ohh it seemed you had as per your comment; 'you should look at transacted price'
i'd booked a unit @ sixceylon. i believe the price, location and package are justified.
i saw your review on monoland's vipod and it seems a little bit bias (i guess since you bought a unit there).
anyways, a lot of people thinks ceylon hill is the best location in kl.
stanley lai.
stanley, i am heavily invested in bukit ceylon too... there are pros and cons.
btw, i did not buy anything in vipod. i bought units in quadro. although i was entitled to buy a small unit in vipod, i gave up that right.
SL
any latest news on Six Ceylon?
Is it sold out?
Will it be a good investment over the next 5 to 10 years?
Thx
Last checked at the Ara Damansara Symphony office, I was told its all sold out. The stone throw away Somerset Residence is selling above 800psf, and Verticas subsale is fetching for 1200 psf. Seems like the SixCeylon selling for 900psf is a reasonable investment to me.
Regards,
Casa Kiara Guy
all sold out before launch? wah....
I am confused. what do you mean
I look forward to hear Sinleong's opinion
opinion about what?
There are a lot of other properties than sixceylon. Some are very much in better locations. By the way, what's so interesting about bukit Ceylon?
Sinleong:
Do you have anymore interesting insights in sixceylon
how it did sell?
value to rent etc?
well... apparently it's sold out. dont know true or not... it's still too early to tell about rental in this saturated market. sixceylon have to compete with branded apartments i.e. verticas (lanson place), suasana ceylon (ascott), one residency (park royal) and seri bukit ceylon (somerset)....
Uber group launched the SUASANA BUKIT CEYLON. Can anyone comment on the location and its marketability? Is this location a good buy? They are throwing in fully furnished apartments and like IP they are selling as ber floor or blocked floors.
the developer is UM land.. and there is an entry here in my blog about the project
Thank you Sinleong, boy ..you know your stuff.
Sinleong
any view on IP global?
Do they do a good job renting our apartments for owners who bought through them?
better to rent fully furnished?
I thought six ceylon was better then verticas as it is much lower priced, easier to rent out
i dont know them so cant really comment...
most tenants in this area expect the units to be tastefully furnished
Kuala Lumpur, Malaysia
I am a Telecoms Engineer and part-time property fanatic. I have been investing in properties since taking out a low interest company loan to buy my first apartment and renting it out for a tidy sum to an expatriate. I have accumulated a few ever since. My prime focus has always been the Kuala Lumpur city center but recently I have been branching out to other districts. In my opinion, Kuala Lumpur offers among the most affordable real estate in the world.
DO YOU STILL LIKE KL OR DO YOU THINK IT IS OVER PRICED NOW?
please don't shout
,
I was just a little confused as on one part of the site you are quite bullish on KL real estate, while you also warn for over supply. As an aspirant investor I do appreciate your insights
i'm not bullish. neither am i bearish. just keep cool...
it appears that propertrack still is selling sixceylon units....
Any views; wasn't it sold out?
sounds like there was a sticker game...
can you please elaborate ion that? we thought six ceylon was better pick compared what is build in the neighborhood as sic ceylon appartments are somewhat smaller (vs eg verticas)
How do you feel about this news above; are apartments being flipped or just unsold? also six ceylon will only come to market end of 2013
sometimes developers release units bit by bit into the market.. they may put sold stickers on those not yet released to give the imprssion that sales is brisk.
It is awesome!I wonder why the water of swimming pool is all red..LOL, but it is very nice!!!
What would you prefer to own; verticas, six Ceylon, or the Richmond?
verticas... if i can afford it
Can you please elaborate on that?
Verticasi not too high end? Safer bet on six Ceylon?
Buy to let perspective?
This as these properties have same location ?
judging from the price, i think verticas will be as high end as u can get in bukit ceylon. buying to let is going to be tough as rental is remaining stagnant. at the end of the day, it depends on how well executed the properties to attract tenants. example is SDB's project in KLCC is highly sought after by tenants and then u have glomac's which is going low prices to attract tenants. i think i may have more confidence in developers like E&O, Wingtai and SDB compared to Bolton...
How has an investor done who invested in this project?
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