Permas City Vs Permas Centro Shop Lot

There are two choices available for comparison in Permas Jaya.
Very appreciate my JB friend went to both site to do a quick survey on below 2 projects.

(1) Permas Centro

Based on the packages, Front row facing the Renaissance Hotel is better. Facing the residential is quite bad. The unit 96 which facing the main road, corner lot is RM1.8 mil (After discount will be Rm1.6 mil). Unit 72 is corner which is RM4.0 mil.

(2) Permas City

 Picture source from www.permascity.com

* 5 mins drive from Permas town, ideal it is near. But it is HUGE distinctive different between 2 places.
* Surrounded by Old residences and Old shop houses
* Only has 1 road access to the place either from Plentong or Permas Town
* EconSave will be open in next month
* Developer mentioned will build a hotel and a condominium in future
* The unit available after rebate/discount is around RM1.6 mil.  This unit is in front of the carpark.

My view on Permas City:
It is another secluded place, out of Permas town. Even with EconSave supermarket, it only cater for economy range of consumers.
MRT will not be passing this area. Strongly believe it will stop at the Permas Town since it is well established area. It has all the banking facilities, shopping mall etc.
So how would the crowd to move to this area? I cannot think of any pulling factors.
With current surrounding, it going to take at least 5 years to develop into a mature town.

Conclusion:
Based on the above location comparison, Permas Centro is better compare to the Permas City.
Both unit available also worth around RM1.6 mil. Will keep monitor for now.

Study into Country Garden Danga Bay - Iskandar Johor Bahru

I was introduced by a friend to look into Country Garden Danga Bay.
It is Located at Flagsip A of Inskandar. Refer here for other Flagship of Iskandar.
Below are the quick pricing plan gathered:

1 Bedroom starts from Rm 441,758
2 Bedroom starts from Rm 578,710
3 Bedroom starts from Rm 948,868

Below Market Comparison and Pricing table are from "Country Garden Danga Bay Introduction File"

Refer to the 2 sample calculations on the packages offer.

Summary:
Down payment is 5% of SPA Price.
The listing price basically is no effect on everything else.

With this information, I check with my Secondary Schoolmate in Singapore.

Feed back from my Singapore Friend:
I spoke with the agents from different booths for projects at danga bay last weekend. It seems 800psf is the normal price now.But that is before rebates n discount.
For greenland, they have not launched. But they already said 800psf.
The market is really not good for danga bay area. Their booths are empty. And they do not tell the detail price. Now they prefer to take down contact number and arrange trips to showroom... they even got van waiting to bring straight to showroom...
The only straight forward price is give by R & F. They print out their rebates very clearly.
Greenland has not announced the exact number of new units to be built at danga bay. If they announce then i believe will be another big numbers..


Survey on population:

 Source from:Statistic.gov.my

Since the establishment in Johor Bahru Iskandar area , land speculators and soaring with the influx of big developers . It could be, or mistakenly think Hong Kong - Shenzhen is in the making. Singapore - Johor Bahru can be similar to Hong Kong Shenzhen? However , if you press the number of the population to compare , Singapore and Johor Bahru the total is less than 7 million . Hong Kong and Shenzhen has more than twenty million. If the population growth rate is an important indicator of economic development, whether Johor Bahru can turn to bustling city, it depends on the populations growth.

Have to admit that, with China developers came in and purchase of a large area of ​​land , to increase the supply of new high rise housing and shophouses. Current  developers building the housing supplies faster than the population growth rate.

Look at the above table for the supply of the properties in Johor Bahru, it is the highest in Malaysia. More than double compare to Selangor and 3 times compare to Penang.

Of course some one may said that, Iskandar can attract Singaporean investors. It is purely due to the superior currency exchange rate an cheaper price compare to Singapore. However, would Singaporean move to Iskandar and stay there. The number could be small even though with MRT readily link to Singapore.Not sure when it going to be happen.

Bay Residences Which Package is better?

Bay Residences Which Package is better?

Previous post asking which package offer by the Bay Residences is better?
Below is my analysis and there is no right or wrong which is better.

Option A: Is suitable for the person whom really want to buy and hold. Also targeting to get the rental yield. Can achieve higher rental yield by having lower monthly mortgage.

Option B: Less down payment. Great profit for the flip strategy. Typically for investors.

The sale person keep pushing me on the Option A saying higher gain and lower interest charged.
I only can comment that she is targeting the home buyer group. Or maybe that is the strategy to push sales for the uninformed group?

What is your opinion?

Penang World City - Bay Residences Package available

During my visit to the iProperty Fair at G Hotel on last Sunday, I interested in the Bay Residence due to its location. Further understanding on the packages, there are 2 options available as shown in below table.

Which would you choose? and why?

iProperty fair at G Hotel 2014

Since I have visited to the Property Fair at Queensbay on Friday. Today either will go to G Hotel or Sunway. After my Church service, straight go to the G Hotel since already at Penang Island.

On the way, I asked my 2 boys if they want to follow me to the fair or follow mummy. My 2 boys said they want to go to the Popular. Good for them.

When I reached there, it is 10 minutes to 11am. I am the first one to be at the fair. surprise to me that the scale of the fair is really small. The smallest I have been compare to the previous one.

My friend Tommy having Live report from Queensbay Mall. He quoted below :"Queeue to the  wheel of fortune. 1st prize:One Prominence unit !!!" He is crazy about Prominence.

Compare to G Hotel, even before I am leaving 45 mins later, it is still cold. The staff is more than the visitors. There are no big boys there such as Mah Sing, SP Setia, IJM etc. There are not many local exhibitors there. There are about 30% of the exhibitors are for foreign investments such as Melbourne and United Kingdom.

I text my wife asking if my 2 boys want to do the sandart?

Below are some of the take back from my visit there.

Andaman: Upper East, Tiger Lane, Ipoh
First stop is at this Andaman booth. I was introduced to the project in Ipoh by Andaman.
This project consist of 3 Block with various size as below:

Type A: Simplex/1162 sqft -> From $488k
Type B: Dual Key Simplex/1507 sqft ->From $610k
Type C: Duplex/1162 sqft -> From $750k

What is the per square feet price? Oh man, it is above $400/sqft.
Ipoh price has escalated so much? It is more expensive than Penang Mainland already.
Have to skip this and focus in Penang will do.

RK Group: Sang Sarang Resort, Lumut

Some one talking about  "Sitiawan" that caught my attention. Sitiawan is my hometown. The developer is RK Group and building this Sang Sarang resort. The booth still no one since I am real early. I just snap few photos.

3 staff walk in after 1 min. He told me that this will be like a mini Club Med. When the tourist check in, all the fees will be include all the foods and drinks. The location is at the secluded end of the Lumut, just before the Navy base. Now come to the interesting part, what is the price they are selling?

Area: From 731 sqft - 1714 sqft
Price: $593K - $1.5m
Averaging $937/sqft
Booking Fees = $10K

Wow, what can I buy with $937/sqft in Penang? I can buy into Penang hotspot such as Gurney and Tanjong Tokong. Or in fact, I can buy any good location in Penang Island without any hesitation from big boys such as SP Setia, Mah Sing,Boon Siew, IJM etc...

Hopefully the resort will not turn into swiftlet project. Sitiawan is famous of the swiftlet producing bird nests. I love bird nests very much.

Atlantis Melaka
This booth is held at the ground floor of the Gurney Plaza. A very small booth. This time, my intention just want to snap a clearer picture of the pricing. Take note that the Green one is the one is available.

Penang World City - Bay Residences
Penang world city is jointly developed by Ivory and Tropicana. Bay Residences has 5 block, namely A,B,C,D,E. Currently only left with Block E.

I spend the most time at this booth because I like this area very much. It will create head to head competition with Asia Green Quay west. Both project is side by side.

Let's straight go to the financial details.
Below are just a few sample units used for calculations purpose only.

Listing Price: $860900
SPA Price: $792028 (After 8% discount)
5% Rebate : $39601

Initial cash layout is 5%:$39601
During signing the SPA, need to pay 0.01% of the Loan amount,
e.g : 0.01% X $792028x90% =$71.28

Free legal fees includes Loan, SPA and Stamp duty
Each unit come with 1 car park only.
Maintenance fees is $0.25 /sqft

Queensbay Property Fair Prominence

I check out in detail again for Prominence. This should be my 3rd writing on this property already.
This time will be include more details on this project.

Refer below for the price list.
Reference is last last 2 month entry price.

Property Fair at Queensbay mall 2014

Since today is my holiday, I visited to Queensbay mall in the afternoon to check out the property.
This weekend is full of property fair. Very rare that there are 3 property fair at 3 different locations namely, Sunway, Gurney adn Queensbay.

Below are few booth I stop and ask around at Queensbay.

Nusmetro - Arte S

This is one of the unit we bought in Sept.
So I drop in and check some details after 2 months.

Current promotion is only given 5% discount.
Below are some of the units and details before discount.
Reference price is our entry price.

Bionic Land - Prominence
In year 2013, I recommended few friends to buy into this project with entry price is at $260/sqft.
2 months ago, JV another unit with entry price at $330/sqft.
More about this project, refer to here.

PJD - Woodsbury

I drop by this booth to check out the latest pricing. There are 3 sales personnel in this booth. I spend about 2 mins in the booth but no one come forward to talk to me. All of them are just sitting down there. Seem like they are not interested to sell or they are there to make up the numbers?

 Below is the Woodsbury model.

Asia Green - Quay West Residence

This is first time I heard about this project. But the Block A already sold out. Now left with Block B which is bigger size. The selling price is about $750/sqft.
I like this location which is beside Putra Place. It is beside the Tropicana project.

Tropicana - 218 Macalister

Tower T is residential title. Selling price is at $950/sqft.
Rebate 12% currently.

Tower M is Commercial title. It is studio unit selling at $1100/sqft.
Below will be Marriot Hotel. Selling price is at $950/sqft.
Rebate 10% currently.

Lion Group - Promenade
I think this is one of the hottest selling cake in the Bayan Baru.
I was surprised that this is not developed by Ideal as surrounding are its project.
Below is the price list available:

Cuurent Promotion:
1) Discount 10%
2) Booking fees $10K
3) For 1651 sqft, free additional car park, Total will have 3 carpark
4) For 1525, additional Rebate $23K.
5) For both unit type, it is no money down deal with 90% loan.

Out of so many booth, this is the BEST deal. Location wise, it is hot place.