Friday, November 21, 2014

the Potpourri

People take notice every time a big blue chip developer like See Hoy Chan launch something. Even if it's in Ara Damansara which is plastered with condominium projects - Ara Green and Verde among them. Even if it's leasehold like their latest launch the Potpourri.

If you compare all the other projects in Ara Damansara such as The Ara, Ara Greens Residences, Verde etc etc, they all look about the same barring some architectural uniqueness here and there. All feature a number of blocks within a gated compound and facilities one can't even finish enjoying through the lifetime. In the Potpourri, See Hoy Chan offers hanging Sky Lounges and apartments which are literally built on bridges that link 2 blocks together.

If you want to live on one of these bridges, you'd expect to pay slightly more. For example, a 10th floor 713sf "Bridge unit" is priced at RM736,800

while a slightly larger 755sf normal unit on the 2nd floor is going for RM694,800 - even if one takes into account a RM5,000 hike per floor, RM40,000 premium for the 8 floor difference between our 2nd and 10th floor. So, for the novelty of living hanging off a bridge, the 50sf space is hardly a sacrifice.


Similar to their Uptown Residences, the project is split into a Family Block and a Lifestyle Block. This is See Hoy Chan's recognition of the trend in matured and successful Chinese areas like Bandar Utama and Damansara where a number of properties there such as Ameera Residences, are buoyed by the demand from children of residents who return to live close to their parents and where they grew up. However, probably due to the softening market, the Potpourri is not witnessing the kind of hot sales like the one at Uptown. There are altogether 8 blocks, each block being 13 - 15 storeys and housing 6 - 10 units per floor. So altogether we have over 800 units in this project which is not too low in density but the developer is also smart to recognize that PJ dwellers won't settle for just 1 car. So they are offering 2 parking lots for each of the smaller 1-2 bedroom units and 3-car parks for the larger 3 bedroom units. The number of variations in layouts are so diverse, I'd leave it to readers to check out these out in their website instead.
Location wise, it is closer to amenities compared to Ara Greens and Verde. It is half the walking journey to the new upcoming LRT station and just within a stones throw to Citta Mall. There is still a number of land bank in this area. Soon, we will see a very congested and dense Ara Damansara area.
While concept is really great, I am not too heated up by the leasehold and commercial title. Citta Mall next door is not the most exciting place either so for the kind of investment, just as I have commented about Ara Greens and Verde, I'd still look for landed properties in this area.

Thursday, November 13, 2014

Effects of GST on Properties Next Year

My question still remains, are serviced apartments, which hold commercial titles exempted from GST? Since they follow Schedule H which recognizes them as residential properties, are serviced apartments exempted? Nobody is able to answer me till today.... Nevertheless, GST will still cause a nett rise in property prices through the spiral effect.

Residential property prices to rise 3% to 4% after GST

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KUALA LUMPUR: Residential properties are exempt rated but the net impact from the implementation of the goods and services tax (GST) will cause their prices to rise 3% to 4% after the consumption tax comes into play next April, said Mah Sing Group Bhd executive director Datuk Steven Ng Poh Seng.
The estimation came after the group had a dialogue with its contractors, he told pressmen after the groundbreaking ceremony of the Southville City Direct Interchange project yesterday.
As for commercial properties, buyers will be charged the full 6% GST as they are “standard-rated” items, he said.

Saturday, November 1, 2014


Which condo - luxury or not - in Cyberjaya which is not just another student dorm?

How many expats will want themselves of their family to live beside a dorm?