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mlmy
Joined: 31 Jul 2007
Posts: 8
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 Posted: Tue Jul 31, 2007 12:19 pm Post subject: Pantai Panorama for investment - need opinion |
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Hi RR,
Need your opinion please.
I have been looking to invest in a property (budget of between 190k - 270K) and have decided on getting a unit at Pantai Panorama due to its location, tight security, good maintenance, freehold status and fair potential rental yields.
I am currently torn between a fully furnished 1250sq ft 3 room condo @ 270k tenanted at RM1,600 and an unfurnished 750 sq ft 1 room studio at 195K.
Agents have told me that the rental yields for the latter is between RM1,400 and 1,700 but I noticed that there are quite a few units on the market for rental.
I wonder if I am getting a fair deal for the above units? |
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rollsroyce
Joined: 28 May 2007
Occupation: Jedi Master
Posts: 213
Location: Dagobah System
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| Posted: Tue Jul 31, 2007 2:24 pm Post subject: |
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Hi mlmy,
Welcome home 
| Quote: | | fully furnished 1250sq ft 3 room condo @ 270k tenanted at RM1,600 |
Almost all the units there are furnished(either partially or fully) so the furniture does not really add value to your unit. It is merely a convenience. The tenant is a bonus.
I would value the 1200 - 1300 sq ft units at $193 - $198 per sq ft. These units have been appreciating by approximately 1.48% per year from 2003 to the 1st quarter of 2007.
Rental for these units are going for $1.27 - $1.30 per sq ft. There has been a slight depreciation in the rental rates from 2003 - 2006 but the figure is so small(less than 1%) that I would say that the rental rates are stagnant rather than depreciating.
| Quote: | | unfurnished 750 sq ft 1 room studio at 195K |
I would value the 750 sq ft units at $238 - $244 per sq ft. These units have been appreciating by approximately 2.91% per year from from 2003 to the 1st quarter of 2007.
Rental for these units are going for $1.64 - $1.68 per sq ft. Rentals are also stagnant here(less than 1% depreciation).
Your choice of location is good but the price is too high. I remember saying something about Pantai Panorama here as well.
Please do your due diligence before embarking on any investment spree.
I wish you well. |
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mlmy
Joined: 31 Jul 2007
Posts: 8
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| Posted: Tue Jul 31, 2007 2:44 pm Post subject: |
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Hi RR,
Thank you very much for your feedback. Will certainly take it into consideration.
Do you know of any high-rise construction taking place near PP which may affect its views? I have been told that semi-ds are currently built in that area.
Would you recommend any other properties with my budget? My criteria is that it should be in a good location, freehold with rental yields of 7%. |
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bhkoo
Joined: 27 May 2007
Posts: 122
Location: KL
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| Posted: Tue Jul 31, 2007 2:54 pm Post subject: |
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| Do also check out Bangsar Permai 1+1 room since you have the budget. |
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boomerkk
Joined: 28 May 2007
Posts: 83
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| Posted: Tue Jul 31, 2007 6:25 pm Post subject: |
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| mlmy wrote: | Hi RR,
Thank you very much for your feedback. Will certainly take it into consideration.
Do you know of any high-rise construction taking place near PP which may affect its views? I have been told that semi-ds are currently built in that area.
Would you recommend any other properties with my budget? My criteria is that it should be in a good location, freehold with rental yields of 7%. |
Yes, the construction in front of Panorama is several high-rise blocks by UOA I think. Might be worth checking this new project out rather than Panorama.
I checked out Panorama quite closely, and despite the seemingly good rental yields, I smelt something fishy as there are quite a few owners who are motivated to sell. I think the culprit is the construction.
Location is good however, that area is full of potential tenants. |
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mlmy
Joined: 31 Jul 2007
Posts: 8
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| Posted: Tue Jul 31, 2007 11:43 pm Post subject: |
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Thanks all for your feedback. Greatly appreciate it. Will continue researching.
Boomerkk, I called up UOA and the saleslady told me that they plan to launch the project early next year. She didn't have much details apart from the fact they're building a showroom now near that location and that the condos will be leasehold. |
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rollsroyce
Joined: 28 May 2007
Occupation: Jedi Master
Posts: 213
Location: Dagobah System
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| Posted: Wed Aug 01, 2007 12:58 pm Post subject: |
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| mlmy wrote: | | Would you recommend any other properties with my budget? My criteria .... rental yields of 7%. |
Most of the lousy condos are within the same price range of your budget. To get more choices, you need to reduce your budget to below $150k or increase it to above $350k. Here are some of the 'needles' from the 'haystack'. I'm not sure whether these are good condo's or not.
AMCORP - 488 sq ft
BANGSAR PERMAI - 700 sq ft
BAYU PUTERI - 850 sq ft
BRICKFIELD PALM CRT - 952 sq ft
BRICKFIELD PINES - 1045 sq ft
HOLIDAY VILLA - 577 sq ft
This tool would be useful to you.
http://www.transfield.com.my/free1.php#...rice_trend
Please do your due diligence before embarking on any investment spree.
I wish you well. |
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