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