Wednesday, May 30, 2012

St Mary in Pictures

May 2012 - St Mary is just 2 months now from vacant possession



































32 comments:

Anonymous said...

Hi sin leong,
How is the rental market for st Mary?

sinleong said...

dont know.. it's not even in the market yet...

Anonymous said...

st. marry and dua residency, which one would you pick for your own live in and invest?

sinleong said...

st mary

Paul said...

why? dua residency is surround by so many embassy. Wouldn't make it easier to rent it out to those who work in the embassy? maybe higher rent too? what's make st. marry so special to you?

sinleong said...

i favour st mary doesnt mean it is so special to me. i was asked to compare, so i chose st mary. but really you cant compare dua and st mary simply because dua consists of large units only around 2000sf, while st mary focus on suites 1000+sf although it also has large duplex units. my dad used to work in an embassy overseas. if you work in an embassy, it makes no difference whether you live next to it or 10mins drive away. dua is not that convenient for food and shopping as compared to st mary... so location wise, i'd choose st mary over dua because i dont like to live right next to a busy road with no life after dark

paul said...

thks, i will think twice now.... because i am thinking to buy Dua actually.

Anonymous said...

HiSin Leong,

Saw a few advertisment on iproperty. Renting at RM4.4 ~5.3 psf (RM$5000 ~8000 per month) for St Mary. Will anyone rent this place at this rental rate, seem high.

sinleong said...

At the price entry point, owners dont really have much choice but to rent at this price. we're talking about RM1m just for the 1bedroom unit! however, St MAry does have the stature to command this price although the question should be how many such tenants are there going to be in the market for this?

Anonymous said...

Sorry to leave message here but dont know where else on the site. Can you please let us know what you think about cental residence and the richmond from an investor perspective. Thanks for you site!

sinleong said...

i assume you mean the richmon at mont kiara, not the richmond suites at jalan pudu which is a rather seedy joint. mont kiara is over-built... i think that sums it all. if the project is very good with good tenant demographics then yes, it would be good investment but majority will struggle... in high density places, you must have the eye for the right building and also the right unit.

i was at the sentral residences launch. some of the units look quite interesting and there is demand for accomodation at the KL Sentral but i dont think they will attract many long stay tenants. I work in Plaza sentral. This place is expensive and lack choices because MRCB controls everything and retail/food tenants are squeezed. The place is also pretty dead in the evenings and weekends. So, expats will come in, stay a few weeks or months then find some place else more interesting like Bangsar or Bukit Bintang. Also, Sentral Residences is surrounded by busy roads. It's not like you can step out and there are shops. You have to walk a long way.

PM said...

Hi,

Was wondering if you went to the opening party on the 11th and what was the vibe like? I'm an overseas buyer and have a unit in Block A.

Thanks,

PM

Anonymous said...

Property every where seems high side unless is out of the city

Anonymous said...

Hi

Dwhat is your opinion on this project
http://www.ipglobal-ltd.com/property-portfolio/view/?property=50

Jasmine Chen said...

hi,

do you think the E&O hotel within the St. mary will affect its value in the future? since the living environment will be affected by the "tourist".
And by the way, do u think the troika is a property worth owning, would you invest this property? thank you for your time to answer my question.

paul

sinleong said...

i like troika. any norman foster project will surely sell and appreciates. but careful not to buy with emotions. check market price 1st before you negotiate.
projects like st mary which has an associated hotel in-house is always good because the hotel will ensure certain standards.

Reuben said...

Hi Sin Leong, I am looking to buy a one bed unit in St Mary and have found one in tower a, any hints or tips from yourself as an owner of a unit in St Mary as to what to look out for as part of the sale? Any questions I should ask before I go ahead with the purchase? Do you know if there are any developments planned to the left of Tower A?

thanks so much for any help/advice!

Reuben said...

Hi Sin Leong any chance of a comment to my query?

sinleong said...

which block in tower A and which view? and also what floor?

Reuben said...

Hi its block a3 klcc partial view, facing courtyard but low floor

sinleong said...

i cant recall if A3 is the block closer to MAS or Hap Seng 2. If you are facing Hap Seng 2, make sure you are low enough and not affected by the 24 hours LED mast head of the Hap Seng 2 building. otherwise you better have good black out curtains.

Don raja said...

thanks unit faces the e and o hotel rooms, any feedback on the development? known concerns on the management? any idea if any development planned to the left of a3?

sinleong said...

The public mutual tower is completing so no more new development. The management always takes a long time to fix anything eg lifts, doors and one of the exit gantry remains broken till today after almost a year.

Don raja said...

Thanks sin leong that's very useful, doo doo you still think it's worth buying units in st Mary? I'm paying 1.5 m is that a good price? Worth it?

sinleong said...

I know someone who paid 1.62m for unit in block C1 so this is not bad

Reuben said...

very helpful to know! so you think there is still capital growth in the one beds

sinleong said...

Limited

Reuben said...

Does that mean better to buy somewhere else if capital growth is the plan? how about rental return? Also look elsewhere? Is there some other new or ALready Built development worth considering instead

sinleong said...

bukit bintang and KLCC is a matured area so does not offer much in terms of returns. if it's returns that u r after, go for emerging areas.

Reuben said...

interesting point indeed, any suggestions on emerging areas? I always thought westerners prefer to be in the klcc bukit bintang area and thats the market i am after

sinleong said...

that's not a wrong assumption. as i said, klcc bb is a matured area with a matured market. other investors have seen it as well and the price obviously reflects that. therefore if u r looking for high and fast capital returns, it will be difficult. emerging areas like sentul, bangsar south, sg buloh-KD corridor etc are high risks but offers much better if u get it right. note the word RISK

Reuben said...

many thanks for the feedback, perhaps you can share any info on any developments worth looking out for? are you looking to invest in any more developments? Do you think given the ringgit and the economy today the rental market will continue to be strong?