Last i've checked, the 3 towers have already topped up. E&O has built show houses at the site. For the amount of postings I've made about St. Mary, some of you may have already gone zzzzz...
But to see your investment from this stage...
...to this stage...
until it has reached this stage...
...is indeed very exciting...
The actual show houses give us an exact feel and experience about the unit's layout. The immediate effect is the spacious feeling of the living area.
The unique layout where both bedrooms flanking the living area allows you to see both the other bedroom and the balcony.
But the sharpened corner of the window may need some creativity in designing the shades..
The prices are now in excess of RM1000psf, up from around RM700psf at launch. For those happy to pay more than RM1500psf (over RM1.6million), you enjoy the view of the courtyard.
and totally unblocked views of KLCC.
Still another 12 months from Vacant Possession... it is well going to be worth the wait.
8 comments:
it is still a very long time to wait, hope to see the picture after it is completed.
Your information and recommendations will be very appreciated.
I'm thiking to buy one of the units at St Mary for my first investment.
I have been currently introduced 2 interesting units by the sales manager and the agent([1]. 1B facing KL tower at RM1,500K with the expected rent of RM6K - 8K, [2]. 2B facing KLCC & Pool at RM2,300K with the expected rent of RM7K - 9K).
Can I enjoy both income gain and capital gain on this project??
Holding period will be 5 - 6 yr.
Thank you!!
My personal experience is, the 2br units are easier to rent out at this premium price. Most senior single expats prefer more than 1 br, despite being single probably to have the extra room for guests or space for an office. Is the KLCC + pool view worth the premium? You can still get nice units that are facing Jln Tengah or MAS building. Those facing MAS building can get some KLCC view from the bedrooms.
Good morning Sinleong,
I appreciate for your prompt reply and valuable information.
I personally think the KLCC + pool view worth the premium
But based on your personal experience and thoughts, do you think this premium rent will be achievable?
Also, do you think I can still expect some appreciation in the future even though the price has already gone up radically and almost reached peak level??
My concern is that the demand for this kind of luxury condo might be slightly weak to absorb existing and new supplies and I will be struglling to rent it out at this premium price if it is true that in 2008, only about 1.7% of the entire polulation drew a monthly income exceeding RM15,000, and only 5.2% earned more than RM10,000.
Hi sinleong,
Thank you for your prompt reply.
I personally think that the KLCC + pool view worth the premium.
Anyway, based on your personal experience and thoughts, do you think I can expect this much premium for both units.
How much do you think I can get for 1br and 2br respectively?
Also, do you think I can still expect some appreciation starting from this price??
My concern is that the demand for this kind of luxury cond might be slightly weak to absorb existing and new supplies and I might be struglling on lease-up during holding period and disposition at exit if it's true that in 2008, only 1.7% of the entire population drew a monthly income exceeding RM15,000 and only 5.2% earned more than RM10,000.
Your comment will highly appreciated.
Thanks.
Hi sinleong,
Thank you for your prompt reply.
I personally think that the KLCC + pool view worth the premium.
Anyway, based on your personal experience and thoughts, do you think I can expect this much premium for both units.
How much do you think I can get for 1br and 2br respectively?
Also, do you think I can still expect some appreciation starting from this price??
My concern is that the demand for this kind of luxury cond might be slightly weak to absorb existing and new supplies and I might be struglling on lease-up during holding period and disposition at exit if it's true that in 2008, only 1.7% of the entire population drew a monthly income exceeding RM15,000 and only 5.2% earned more than RM10,000.
You're paying almost RM800 more psf for the KLCC+pool view, if you think that's worth the premium, i say wow. the market appears to be slowing down too, so i don't think there is much more to appreciate in the short term. But in the longer term, with inflation and all that, anything can happen. I think it's realistic to expect up to about RM12k rental if the furnishing is top notch. But finding tenants will not be as easy. it's not so much what the top 1.7% or 5.2% of the population earns, because the market base will mainly be expats. nowadays malaysia is not getting many expats. Another consideration is the short term lease market, working with E&O hotel. i think this option will be available later since E&O will be running one of the 3 blocks as a Hotel. A top grade 2br serviced suite is going at about RM1200 a night. Assuming you get 50% occupancy per month, that's RM18k
S.E,
Chances are that u will not be able to rent out at the premium rent. supply >> demand in klcc area. Your targeted audience is ONLY EXPATS. no malaysian will rent from you unless is for his mistress or something. if u have alot of money to spend, go ahead. if you have hesitation and is worried, forget about it.
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