Thursday, November 17, 2011

2 condos at One Menerung can fetch RM70,000 rental per month!!

Few days ago, I almost fell out of my chair reading about how confident some investors have in our property market. Actually, our property market is not doing too badly compared to other countries in the region but this can be a bit far fetched.

The National FeedLot Corp (NFC) chairman who is in the middle of a scandal right now has defended his company's decision to use money intended for cow rearing projects to be invested instead in 2 condos (not 1) at the One Menerung in Bangsar. Apparently, both condos are being rented out for RM70,000 per month returning 12.9% per annum!

Before punters start falling over each other to grab a unit at One Menerung, property experts issued a caution. The experts say that the highest rental that can be expected for even the penthouse at Bangsar’s One Menerung condominium is about RM24,000 per month.

I think this is more a case of criminal breach of trust and corruption rather than an extraordinary success at property investments....

4 comments:

Live Long MU Fan said...

The way our beloved country is being led...with massive corruption, inefficiencies ... we are heading for bankruptcies and downgrade of RM...

Anonymous said...

I have an issue with the JMC of Solaris Mont Kiara who refuses to help me regarding a recent secuirty system in Solaris which shuts the access doors to my units after 7pm.

He asked me to install a system tht cost Rm2,300 in order for my convenience. This is absurd and daylight robbery. How and who can i complain to in the indusrty?

sinleong said...

since the cost is below RM2300, i wonder if you can take this case to the small claims court. so, i would go write a letter to the JMC stating that if they dont rectify the problem within 2 weeks, i would go ahead and do it and claim the cost from them. then if you have to do it yourself, then submit the claim to them in writing. when they do not reimburse you within 2 weeks, go to the Jalan Duta court complex and register the case. it should be heard within 1 month.

Jobless Girl said...

Huhuh, This is beyond and beyond market rate. Malaysia Boleh... Only Malaysia Boleh