Monday, May 16, 2011

Demand for condos in KL







6 comments:

Haruki said...

sinleong, what is your personal take on condos in Mont Kiara area?

sinleong said...

it's too high density...it's scary

Live Long MU Fan said...

Sin Leong, what is your personal take on condos in Bkt Ceylon, your home turf?

sinleong said...

it's kinda hot here right now. the construction for st john's is just starting opposite suasana. and UOA is launching soon opposite somerset. prices are hitting RM1k plus but rental is still the same. in fact, it's harder to find tenants now. becoming a mont kiara!

KY said...

Hello Sin Leong,

May I have your view on Titiwangsa Sentral (RM460k) and Casa Mutiara (RM350k) condo for investment?

Thank you.

sinleong said...

Casa Mutiara is popular because it is one of the very few places left in KL city center where you can rent a studio apartment for less than RM2k. The rental range is RM1.2k to RM2k. So at the RM2k mark, you're looking at a yield of about 6% after costs. So, do you think it's worthwhile? There has been a lot of hype about Titiwangsa Sentral. People who bought it at launch made money. But generally, everyone who bought property 3 years ago made money because prices of virtually everything went up. But if you look at the papers today and also the signboards mushrooming around Jalan Ipoh, you can see that most buyers are speculators looking at offloading now. How many manage to sell at above RM400k, I dont know. But knowing speculators, if the buying stops, the prices drop. So I am quite curious, given the many choices if I walk into a desperate seller and offer him RM350k for a std unit would he sell? To know the performance of Titiwangsa you need to compare against the other Jln Ipoh properties like Rivercity, Saffron etc. Personally, I am not so familiar. But I like the location.