One Imperial
One Imperial, strategically located within the establish township of Sungai Ara, Penang. Comprises five blocks of condominium with a total of 768 units. Cheapest unit has an indicative price of slightly below RM400,000 with the size of 1,050 sq. ft.
Location : Sungai Ara, Penang
Property Type : Condominium
Land Tenure : Freehold
Total Units: 768
Built-up Area: 1,050 sq. ft. onwards
Developer : Modular Platinum Sdn. Bhd. (Ideal Property)
Contact No.: +604-645 6888
Indicative Price : RM380 psf. onwards
Contributed by reader (06-Jan-2016)
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just heard that my fellow friend booked 1 unit of Tower E earlier. And, one more friend accompanied me to show house last Sat, and he decided to get 1 too even now a bit late as almost units sold. I hope he will get 1 unit too.
@Alvin
If I had a budget of say 420 – 500 psf, then I would choose Setia Pinnacle by SP Setia. The developer is undisputable No. 1 in the whole of malaysia and every project is audited by their head office for quality and assurance. The quality finish will be top notch because of this and their projects are nearly always on time. The location is not great but more or less the same with One Imperial. I believe they are launching soon and hopefully their price is within the 420 – 500 psf if you take the rebate and discounts into account.
If you choose One Imperial for own living, then I agree that its not a bad buy. The take up rate is very good, units are going very fast, and there are buyers for nearly every single unit (That is if you take the bumi lots as being sold with stickers up now). The downside I see is that the developer may be late with this project (could take up to 2017 to finish), the finish quality not so good, and the traffic jams due to the many projects around the area.
That’s my own opinion and may not reflect other’s but as you asked, I thought I might share. Hope that is of some help…
The house increase partially because of demand and supply. Main contributor is inflation. Looking back, how much the material cost and land cost last time? How much has our RM currency depreciated? Medical insurance also increased 17% per year.The pricing 400-500 per sqft still a affordable price compared to worldwide properties price even without currency exchange. Remember that Malaysia debts is over 500 billions now. That makes our currency so weak…and all material will also increase.
I won’t be surprise in the future 1 unit of affordable house cost rm500k.
@Ah Lian
bought a house doesnt mean i can close my eyes and ears from everything that is going to affect the economy…i did not say we should avoid the market, just cautious and think properly whether the current market price is affordable to you…i work in singapore of course to me owning a 500k ++ property is still okay but i could not think everyone also working in singapore mah…my house now appreciated about 70k to 90k according to the price sold for the same house same taman….i am happy but others might not because it is more difficult for them to buy now which is why i think as a malaysian i should speak my minds based on the information and things i can see…it is very dangerous to buy blindly without knowing the consequences, remember it is greed and irresponsibility that cause the 2008 crisis in US and of course the structures of their financial system too which i do not want to elaborate much…i think most of the people here agreed that buying properties to fight for inflation and currency devaluation is good just that again holding power la…else cannot tahan for few years…
@Alan
yes, i did notice the trends especially in penang, it is unbelievable….but maybe these few years the graph will go down a little especially condos with average of 300 to 400 per sqft because i think normally this range the locations are more down to the south which is sg ara, relau and teluk kumbar…landed and condos in prime area more to the north should be stable…
Do you know when the T-junction at Relau to PISA will be proceed?
@Alan
Thanks for share.
Agreed that prestige of SETIA.
If pay higher price to get Pinnacle but bring me more deep inside to that area. Nope for me loh.
Anyway,will have a look while Pinnacle launching wether i can chg my mind?
Alan,
U stayed in Relau last time?
@WTH
hee hee, next time don’t simply quote a book or some one’s words if you don’t even know the name of the author. Really pai seh lah when countered back by people..hee hee. So far never see you give any solid analysis but only making empty comments like you are better than the professional analyst out there… hee hee
@Ecopricing
Yes, definitely holding power is the key..I already quoted N-Park as example, although priced underwater for couples of years but still can gain back when the next cycle come.. Just that a lot of people already been “KO” before the time come, you can see a lots of units for lelong for N-Park, E-Park, Sunnyville, BJ Court, etc etc during year 2000s..I think our friend David here has made good profit in shorter time from that, and he said he is prepared to “kill” more this round. These are real example rather than empty talk.. hee hee..
So I always urge investors to keep supporting new projects, but advise those with other commitment(family) take good care of their cash flow management, especially during this uncertain time. Remember the lesson that “When Ah Beng & Ah Lian in pasar also take about how hot is the stock market, then may be it is time to leave”.. this may be applicable to property market too..hee hee hee
ecopricing – it won’t always go up
@ecopricing
oh, one more thing to add..the long term return for buying and holding a property during downturn, take N-Park as example:
Price increase ~130% in 15 years (~130K in 1997 to ~300K now) and minus miscellaneous holding cost. The earning probably averaged to ~7% per year.. may be buy the ASW2020 fund also get the almost same return lor… hee hee hee..
If the owner never rent it out.
@heehee
What kind of holding power referring to? Does it means a couple having double income to serve the installment, or a sufficient cash in bank for 1~2 years installment? If I have both not, means I have a very strong holding power?
Pinnacle is good because of less units. But no details yet on the layout and so on, I think.
And, it is at the hill slop, need to pass through the Setia Green landed units (always narrow and have many park at the road side), half of the units facing the hill (I guess you have to pay a premium for city view, 430psf is lowest level of hill view), and not to mentioned about the walking distance to nearby amenities.
So, Pinnacle is good for privacy, but not too convenient. Also, SP Sxxxx is not that quality sound as we imagine.
@heehee
Walao..don’t label me as bad guy, actually I’m helping the economy to stabilize by reducing the NPL from Bank and also the housing price down furthered. It’s not much help with only 1 ppl like me. But believe me, lot of buaya standby out there. Let’s the time to decide. As what ecopricing said, if no house buy 1 now provided u/family don’t have card debt 1st. 6 months saving for fix monthly commitment (car loan, insurance, petrol,food..etc). Join account to purchase for a asset, brother/brother, wife/husband…etc pls make sure have strong mutual understanding if not later “issues” surface…big big big headache….Sell or hold, installament who paid,….etc…endless.
@Bryan
My understanding/practice
For own stay – 6 months saving for monthly commitment. For example: 2 car loan (wife/husband) – 1.5k/months, food = RM800, insurance = RM500, petrol/service =RM500/2car…etc = 3.2k. So typical pg family need at least 20k saving and 0 bad debt (card debt). This not included the housing installatment..if 2k/months = 12k +20K = 32k in saving.
For investment = On top above (32k), 6 months installament (if there is no tenant). For this very subjective as ppl whould said how if no ppl rent for 1 years,2 years…then I would said, if u can’t get tenant for ur “INVESTMENT” in 6 months then I have no commet to u as u don’t know how to “select”, “pick”, “aim”…probability u not suit for asset investment as don’t know how to survey, location selection, targeted tenant..etc
This method is for me: I always make sure the house value/loan at <80% which not the same as those GURU mention in the book get max 95% loan and refinance every 3 years after the asset appreciation and duplicate 3 become 6..6 become 12 asset, 5 million in 6 years….Is not suit to me, high risk high gain.
any1 know how big is the acres land for this OI?
@david
So, if a couple can withdraw ~50K from EPF account 2 anytime, they are considered having the holding power, right?
Another thing is, sure you know there is a flexi home loan package. We can always dump our salary into the account and withdraw as and when need, unlimited. This way, we can save the loan interest, at the same time, can withdraw money anytime for the “holding power”. Do you think it’s work?
Yes…thanks for competitive market and now we have the flexi package. That’s what I did.. :). Dump all the saving (32k++ as above case), just spend RM50 to withdraw any amount if u find any good investment. If not let the money to lower down ur interest. Just kept few k for daily expense. Saving in EPF can’t cal in as “holding power”…
My sincere advise, don’t use EPF to cover the housing loan. BUT use acoount 1 for unit trust investment. Withdraw as much as possible and must consistent (every 3months). Then in short, ur portfollio will be perfect. Why leh..this is becuase EPF saving will give around 6% return and unit trust around above 8% (Public bank product) in long run. But u only save 4.2 to 4.3% loan interest ….See the difference?
pinnacle is around 430 sqf. 15 unit per floor. maintainence fee Rm0.20~0.25. Price a bit higher than OI, but consider a good developer might worth this. OI is 7 ~8 unit per floor, but having higher storey and 5 block, and of course, less maintenence fee.
@onered86
Pinacle consider hill project already, like Residence Height, if got money, of course this one definitely better than One Imperial. One Imperial surrounded by low cost flats, this one should zero low cost flat beside it and got spectacular view and greenery environment.
@ezalor
I miss the boat on fiera vista.. need to check with them whether any unit left at FV..
You are right.. the problem is pinnacle and setia triangle too expensive…
What are u talking about? Sound like u not even know what u talking about. Pity
any1? any1? how big is the acres land for this OI?
@david
I am also using the flexi home loan now. Yours should semi-flexi only. I put all (100%) of my salary into the account, and can withdraw by ATM card and cheque anytime, unlimited, with no cost. The current account also no need monthly fee (RM10).
I quote EPF because we can withdraw the 6 months expense if really no ppl rent the condo and the condo price drop below purchase price. So, I still think it is serving the same purpose.
True that acc1 investment can give you additional 2~3% income, if you are confidence that you able to withdraw the money when retired. I mentioned the acc 2, although only 4% loan interest saving compared to 6% EPF dividend, I think still better because the money is inside my pocket already.
It is just a different strategy game.
heard is 9, but call Ideal office for the exact number.
@Gary
May I know what bother you about the land size? Density?
For sure, a low cost flat named idaman melor from tunas koperasi is next to OI.
@Alvin
I still not sure wana grab OI or not… density and surrouding, but right now, no other appartment can beat it’s price
@Alvin
Idaman melor at the west of OI? North of OI should be SR and GV, school (s) at the east. South will be a market and some empty space. Any idea where OI 2 will be?
Haha I’ve no info about OI2…..
Yes exactly as what u mentioned.
If I’m not wrong, Idaman Melor is somewhere in between OI Tower A & E. And still another low cost flat (under construction) from Koperasi Tunas is quite near to OI Tower E (especially unit 1&8).
Actually, tower C,D,E are quite near to TGT but the oni entrance of OI is located at tower A&B.
Did u book any unit of OI earlier?
I think tomolo will be another unit sold from Tower C lower unit. (Yes,my friend will get 1)
@Mr.Tan
Not sure when it will start building it, but you can see some shops at the junction already cleared. The lands surrounding the SR and GT-angle will cut into 6 streets. These the only the information i got it from my friend.
I booked one unit. But did not make any payment yet. Still struggling… btw, my friend also looking tower c.. not sure whether there still any available unit.. prefer low floor also. may be can go check…
Any one know if Setia Greens Phase 1 terrace houses (landed) have any more units left?
This is just information sharing..
We found that the Ideal Sale Agent, Shirley is very helpful and patient and we would like to thank her openly since she has serviced us so well from the purchase of FV till the purchase of OI. We encountered a lot of issues with our loan application and also have delayed the signing of SNP due to the delay of loan but she continues to serve us patiently without any compliant. All in all, we are happy with her service.
Hi @onered86, Tower C can buy meh i tot they only open Tower A?
@ysc
Buy both to flip once complete? Should be ok as OI is expected to complete in 2017 while FV by end of 2014.
@ysc sales agent already earn your commission therefore need to provide goodservice.
The selling price of Tower C at 380psf is a bit misleading. If included the 25K 2nd car park, it is about 400psf for 1200sf unit.
Any one know the correct way to calculate the price psf? Should it be only 1 cp or need to includ the 2nd cp? Some condo selling price psf is including the 2nd cp.
1 carpark is about 7 feet x 13 feeet, roughly 90sqf. You just need to add 90sqf to your unit then that is the price per sqf. Buy more carparks will lower down the price/sqf because carpark only sell at ~RM270psf.
@ysc
hard sell
For existing selling price, use 1200sf + 90sf (car park)? Anyone know the maintenance fee?
@ Bryan.
Base on the sales guy from Ideal.
Maintenance fee : RM180
sinking fund: RM 18.
So total RM198 monthly?
From the showhouse, there are 3 indoor badminton courts. Are there true? How if they only build 1 court instead of 3? Are there free to use? (Seems we need to pay for badminton court)
Other facilities included gym & basketball court should be free,right?
Anyone can clarify?Pls share.
One more friend is looking for tower C highest floor,type 1180/1200.
Seems now it is not easy to get an unit of tower C.
wanna ask all brother and sisters who had booked the unit, had you checked whether your cheque had been credited?
If I decide to cancel my booking of Tower C 1200sf, before signing SPA, may let you know. However, try not to take the highest floor. It may have leaking issue as my current condo, highest level, from this developer too.
Hi,
You got better choice of other project? Can share?
Yup, please let me know once you decided to drop it. Urs middle floor & face north,right?
i thought OI expected completion in end of 2015. Can anyone confirm?
@BornInPg
where got so fast. SnP expected Q1 or Q2 of next year only, let say 2013 Jun, then plus 3 years at least need to wait till Jun 2016, some more delay another half year is consider normal based on these kind of big density units project. So, be safe, expected early of 2017 liao lor.
booked one unit. But i think most likely bank will reject my loan request…
onered86, you applied the housing loand ? which bank you prefer ?
What’s their offer ?
like that arr…seems like your are at the boundary of financial over-committing. You should worry more if your loan application been approved.
Pengsan, no wonder pg propetise selling like sayur at Pasar malam.
@ryan
Maybe you ate right, I’m just planning to move nearer to my working place. But I don’t think I can get my loan approve without selling my first house. Don’t think can sell it before getting loan.. See how was that.. Worst case leave it.. And I might have potential facing propriety price increase again…. Forever can’t afford new house…
@Alvin
If I cancel my booking not necessary got better choice.
Any one has better offer on the loan? So far which loan better?
*bank
@onered86
can consider Sierra Residence. Still got units left. Lower price per sqf and location just next to One Imperial.
Some updates from the Ideal staff, they estimate earlies by end of Dec 2012 to sign the SnP or latest by before Chinese New Year. Tower A almost 80~85% sold.
@Ecopricing
. Left those top floor and facing entrance unit.
Tower A too expensive for me
Any one any comment on top floor? As I found top floor is a lot cheaper.. around 10~20K difference…
They will inform us to get our loan before sign the SnP. Hope can get it done fast so that they can start the construction.
You have been requested to get loan now? No notice from Ideal yet.
Hot and risk of leakage.
@onered86
You can consider higher floor but not the top floor as u may face leakage. I think there is still have higher floor units like level 17 or 18 for 1200sq ft.
Let’s say before CNY sign SPA, stamping will be ~6 mths later. Then the completion date will be mid/end of 2016. but with this big project, probably another 6 mths delay before stamping (They might clear the land and do some foundation work first, then only send the SPA for stamping to save some time).
@Bryan
Yes, u r right they need to clear the land and it will take times. :(. Hope they didnt delay too long.
From the surrounding of Lilitan Sungai Ara, One Imperial consider one of the top 3 Luxury Condos.
Alternative is the left over units of Sierra Residence, a lot cheaper too.
You sure SR is a better choice? Cheaper doesn’t mean better. If want to buy from this developer, GV should be a better choice.
@ryan
Still got 2 units from top floor of SR.
Let’s say budget about RM400psf, Garden Ville can be another alternative at the same area of SR.
By looking at the current economic profile, people still buying property? RM400psf still can be sold out in few days? QE2’s hot money still not yet fully consumed in buying empty property? While QE3 has no effect in stimulate the economic? Penang property rental in 2012 is still at the same rate at year 1998? Some said, the occupy rate is only 50% on all total units completed in year 2008 till now, in Penang and mainland? Is that true? Is it a time to release all empty units on hand, and move out? Who will be the buyer? For investment, rental too low, maintenance too high; for own living? but already have few houses?? — I think all these are the questions in most penangites mind when touching property issue.
Yes, buying share at this time and hold it over GE13 and next year, is the most silly thing. But, buying property, is just different story, it is still a smart move as Malaysia property is still the cheapest in Asia, among the major cities.
@Economic Crisis
Finally you hit this round, the economy crisis is coming for real..hee hee hee.
@Ah Dog
Malaysia property is not the cheapest in Asia among major cities lah. You should go and buy properties at Manila, Ho Chi Ming city, Hanoi, Saigon, Jakarta if talking about cheap…. hee hee hee..
@heehee
Yes, the economic crisis is coming for real, 2013 and 2014 will be the difficult and tough years, the world economic is forecasted to collapse while Penang property will be emptier then ever. Probably rent is better then buy, if for own living, RM500 can rent a 1000sf condo then?? Who knows? What is your precaution? Still dump in money in property? While cut off expense on food?? But extra belt…
@heehee
You still can laugh? hehehee? The real economic crisis will make you can’t laugh due to no too hungry & no energy.
Just checked. Not yet.
Way back then, predicted economic downturn will be in 2010, it didn’t
happen and so they said 2011. Nothing predicted right by the so call
“economic wizards” so they said it will be in 2012.
Now it didn’t happen so the real one is coming in 2013, even given some
allowance to 2014. Later they will say is going to be 2015!.
@Economic Crisis
So, this is actually the right time to sell property instead of buying?
But 1 question. What will be the impact to this project during the economic crisis in 2013 and 2014? I ask this because I may only required to pay the progressive interest in 2015/16 and start my installment in 2016/17. So, as long as I can avoid jobless, or get a new job by 2015, I should be all right to keep this property? Otherwise, what other things that I should take into consideration? This is very important and may influence me whether to hold it or let it go.
So, if I have the holding power until 2017, should it be alright? Coz you said the economic crisis will be only happened in 2013 and 2014.
As long the investor has the holding power, no matter is a bad time or good time there are always an opportunity to make money in property. I believe those who equiped themselve well, definately is the winner.
Bryan…Why take “risk” as there are plenty of ready unit in the market which selling below 380sqft with some house fitting. If u really look for a “home” just take it why waiting and hopping everything OK..everyday in uncertain mode on ur purchase? Sometimes really I can’t understand nowsday ppl thinking.
‘day day economic crisis, day day nightmare’.
or rather sit and do nothing,it’s called ‘safe’?
Why I aming for OI rather than getting a “ready house” lower than 380sgft.
1) I dont need a house immediately
2) My car installatment will be finished by year 2016, then I will continue the house installment with less burden.
3) I am expecting my financial strength will be better in year 2016
4) I am going to fisnish 2 saving plan by year 2017 and 2018.
5) OI is nice !
I will be more worry to take a ready house:
1. I need to make installment almost immediately. If the economic crisis really happen in 2013/14, then I will be facing the direct impact.
2. I need huge instant cash for repair/ renovation and the balance from the loan amount from bank (if cannot get 90%).
3. Same as above, my 2 cars installment will be end by 2013 and 2015 respectively.
4. A lot of ready house, layout not nice, old facilities, design no good. I like modern concept plus the bundle of facilities of this project. Especially the 1200sf layout, which I think is almost perfect for me at the moment.
5. Most important point is, I don’t like to stay in a house that has been occupied by some other ppl before. I only buy new house except my first apartment in TDR, Relau, >10 years ago.
Agree. We really need to utilize our current financial strength and plan properly at least 5 years ahead in future.
Yes! Yes! please continue to make Penang property market to prosper! Invest and be confident in Penang please! Those “crisis” out there will never hit Penang…hee hee hee
@david
The new projects are selling seems like hot cakes because:
1. Developers are “hard” working “selling”…
2. A lot of people dont read “Poor dad, Rich dad” by Robert Kiyosaki, can’t differential “liability” and “investment”
3. Some people like new & “virgin” houses. :p
4. HOPE (financial will be better by then) & FEAR (house price keep increasing?)
Just standby with your cash then.. hee hee hee..
Daniel and Bryan. I’m understand and respect your strategic and planning. We have difference scope of living. For me, house is a must but not fancy, we shall start aim for a home that suit for next 5 to 10 years (3 rooms with 800 to 1000sqft) should good enought. Then aiming to build the asset investment after that.
Not every 1 here is ahead this direction, but we should set goal of better life in future ..be it early retirement, be it 2million worth of asset by age 35….etc.
I propose to u guys to read more regard on the financial/investment sector. The statement on by year such such..my finance will be stronger is a “TRAP”. We are human and will shift our life style follow by ur income power. The best reference will be ur boss, 10years ago only drive proton and live at small condo. Now drive 3 series with 2000sqft condo, seafood every weekend…blar..blar. How is the financial status? Card debt haven’t settle, saving less than 30k….etc.
When I look back 5 years ago, I just earning 2 to 3k a months compare now XXk. Money still not enought to cover becuase status already change. Age/Time is the most powerful multiplyer for the investment. Luckily I start early 20’s if not…cham.
If I were u, I will aim for medium house range around 200k to 300k. For me above 500k is a luxury condo and should avoid especially for those 1st time buyer or youngster. U not need to come out huge sum of money, just get 95% of loan with 30k is fine for everything. If really can’t commit for the installament….JUST RENT IT OUT to offset your burden. 1k rental for 300k house is not a big deal to get a tenant. TIME IS MONEY ..in order for u money to do nothing and waiting for “future” house to be ready..I already make 12kX3years = 36k income which can offset easily 12k of principle of the loan. Let said u sell of ur house for 330k by then. After deduct ur purchase price..40k profit sup sup sui lah….what is ur capital for this investment..5% = 15k +15k (reno if have) = 30k investment earn 40k profit in 3 years….oh MAN……I love asset investment
@david
David, appreciate your comment and I believe it is more sincere than those who only know laughing and keep mentioning crisis.
300K ready condo, 800~1000sf….. I got question.
1. Lazy to check again but I remember my last check on Harmonic view, 7xx sf, selling 320~350K.
2. 300K condo, 285K loan. The interest of first installment will be RM950. Plus maintenance fees, I doubt you can make the profit mentioned by renting out 1K.
3. Legal fees for 300K condo, maybe ~10K. 5% down payment 15K. renovation 15K, I doubt that.
Go meeting first. Continue later.
Just for sharing, if looking for rental return u may look for BJ court which is 700sq ft and rental is around RM800 with fully furnish. Market selling price is around RM160~180k for fully furnish. The cons is the transaction for this condo takes longer time as the developer already bankrupt which make this condo selling below market price. another option is look for medium low cost flat around perkaka or lipsin which near the market and food court.
Do share ur opinion, if you have better suggestion on the location or condo to invest.
@heehee
From reliable source, our economic still very healthy and gov still afford to pay back the debt. averaging about rm40k debt each Malaysian. Compare to Japan, every Japanese holding rm400k debt and their gov no longer able to pay back the debt. But their houses still extremely expensive. So you can continue to wait… Long long…
@WTH
I don’t know how reliable is your source, I only know M’sa debt to GDP ratio is approaching the threshold limit of 55% (currently ~53%) and Penang is mainly electronic-export orientated. A lot of MNCs headquarted in US/Europe & also depends on export to China. China just announced weakest quarter result among the last 14 quarters… hee hee hee..
@heehee
By the way, last night Google share price steep fall 9% (US$69) because earning worse than expectated.. you can see how “good” the economy is, and how “good” people’s confidence level…hee hee hee…
yup, you are correct ~53% is current figure. The threshold gap can be enlarge easily if gov implemented new taxes. This is something gov tentative to do after next election. China economy getting worst is because they were grown too fast in the past. If their gov move one wrong step now, whole country economy will be in trouble. US held total 14trillion USD debt today, but they still afford to pay it back. They still have military expenses to backup their economic as they are controlling total ~60% world military expenses(near to 1trillion usd a year). If they create some tension at other countries, people will start to keep USD again even QE3 allow the gov continue to print more and more money. Japan already in trouble many year and China will follow their step soon. export and import is a part of economy but major impact is depend on country finances system strength.
Intel fired 2,000 people in 2006 in Penang… But hey look at where we are now. There will be some ups and downs. No one can predict with accuracy. If your decision to buy is based on whether there will be an economic crisis in 2013/2014/2015, then don’t buy if you cannot hold this. I think holding is if you can afford to pay the installments for 1 year if you don’t have a job in 2017 (which you can save and build the buffer from now).
Penang remains competitive. Floods in Thailand, tsunami in Japan, high wage inflation in China makes Penang attractive again for many MNCs’ supply chain. Penang has good infra, airport logistics, English speaking skilled labour market that is not that expensive and good quality water.
Unless the enginneers/folks in MNCs in Penang reading this website are experiencing something else – please let us know!!!
@Ecopricing
What a waste, what a good fortune if we can meet 5 years early and sharing. I only learn this up 2 years ago which should establish +ve rental before venture into more “high end” and commercial investment. Luciky I didn’t facing any road block and surf the wave good so far.
To Bryan; don’t get me wrong. I’m not forcing ppl to accept the concept, actually I’m creating competitor if more ppl accept and use this.
just ignore my statement. As I mention that rental is use to offset the installament. If really need to cover everything, learn from Ecopricing. 
. i already out from that, now venturing more on commercial.
Can anyone give me some advices if I use simple concept as sell 1st house 700sf (yes,it’s sold), buy a new subsale house before OC, get in stay after OC (soon), and sell/rent it out after OI completed. Then OI is my target future house with bigger size and plenty of facilties.
Appreciated if you can share your opinion.
Any one know which bank can offer 95% loan?
Received an invitation on a special review on 19th and 20th 2 days ago. The invitation did not specify whether tower A is opened for booking, but did mentioned 1300sf is available (only tower A & D having 1300sf). Anyone visited them?
@Alvin
1st house – 700sqf
2nd house – 900/1000sqf???
Biggest size of OI is only slightly bigger with 1200sqf. Cannot understand the logic you want to change house.
Somemore if renting you should keep the 700sqf old house instead of buying OI. Presume you have bought the 700sqf house with cheaper psf last time, it should generate net income after offset the loan installment. Very bad rent yield for new houses with the inflated price past 2 years.
The GDP ratio is the fact now and it is going to remain the same or event higher as long as the same gov is in charge. Not only property sector will be affected, and your RM will lost the value. If you fear so much, your strategy should be selling you current house in Malaysia if any and migrate to a country with low GDP ratio.
China growth is slow down, but still above 7%. And US also claimed the lowest unemployment % since 2008. The most worry thing at the moment is the crisis in Euro. You have to look at the economy as the whole, don’t misleading others by just giving an one sided fact.
@Tongkol
For MNC in Penang, the revenue is slowing down, depend on which market. Smart phone business and medical is still going up. PC related business is having and bad time. 2013 forecast is still not clear.
@sky007
Google price dropped 9% sup sup sui lah.. last time people said Facebook share sure naik one… after IPO dropped from US$38 to US$31.. then people said good time to buy cause Facebook is big & popular sure bottom and got support at US$30.. luckily I didn’t blindly believe people said.. now the FB stock price is <US$19 nia.. 50% loss in 4months+.. hee hee hee
so next time if people also tell you Penang property price will never drop, you better think more than twice.. hee hee hee..
Nope.
You r special guest of Ideal. hehe.
Will there be any risk of not able to collect rental? If I am going to enter the rental market, I will prefer a higher end property, which can rent out to those professionals, who will pay rental promptly and take care of your property. Tell me the true, you willing to move in BJ court?
What make you to take this move? Current 700sf house not conform table and cannot wait for another 5 years? If you able to get he loan, it should be alright, but you may facing a few problems:
1. Renovation cost. You need to take out the renovation cost for 2 new property in ~5 years. Furthermore, there always be “appointed contractor” for the 1st year a condo obtained CF and they are selling sand and bricks at a higher price.
2. Moving house is not fun, especially if you already have family. And, if you have furniture to move together, most of them will get scratches.
3. For new condo with just obtained the CF, you can’t move in immediately. The transaction process can only be started after CF, and the 1st owner need to clear the bank loan (if any) and settle the outstanding payment to developer. Take note that not all the loan was released to the developer, and bank also not yet released the full loan. The owner need to settle this. So, you might only can move in after 6months to 1 year.
Thanks! I got ur point.
Sorry that I did not mention clearly of my direction.
1st – must sell (for personal reason)
2nd – 850sf (not sure the price once got OC,it profit by now)
3rd – OI of course is my favourite house for own stay.
I used 1st & 2nd house profit to dump OI (once get OC) to reduce bank loan commitment.
I have to disagree with you again.
1. Have you visited the Ideal show room and look at the layout? If I move to OI, I will be moving from 1200sf + 400sf garden, to 1200sf only. You have to look at the different lifestyle a person looking at, not only the square feet. And, I think 1200sf is the optimum condo size for a small family with 2 busy parents and 2 children. It is the easier to maintain, at the same time, sufficient space for all.
2. Either keeping the 700sf 1st house, or the 2nd house for rent, it is very much depend on the market that you are going to enter. And my calculation of the rental yield, is based no the current market price, not the price you pay when you bought the property. With this, the rental yield will not be much different between the 1st and 2nd house.
Emm…. I actually don’t like them. But unfortunately, they really able to introduce ideal concept to a property (although poor in delivery). Not much developer make a corner unit for all 8 units in a floor, putting in futsal field, basketball court, indoor badminton court, and most importantly, big recreation area to walk around. I can imagine my parents will love it.
@Alvin
If selling the 700sf and move in 850sf is a must, I guess your question is whether keep the 850sf for rent or sell it after move in OI? Keep the 850sf if you able to get a good tenant. Otherwise, sell it to reduce you loan in OI. Different plan if your OI loan almost settle without selling the 850sf. This depend on the market situation.
@Bryan
Hahaha, ofcouse i wont move in as i have better choice. Some time, those that dont have much choice (e.g. working location, convenience or earning power) will prefer to stay there as the rental is reasonable RM750~800 with fully furnish. This target market is for low and medium low income group. The risk is low for renting out.
Yes, higher ends condo target market is professionals which you low risk on collecting rental from tenant compare to low end condos. Any good recommandation for high end condo with good rental yield?
If they are poor in delivery of the project, how much hope is there to get what as per the nice picture presented???
Like! The FB saga..
Just noticed ur message.
Maybe it’s weird that why I made such move!!
1st house is good but cannot wait till 5 years. It’s old & might not be more valuable than new house after couple of years & of course some reason to sell it now too. 2nd house is just a “supporter” (higher price after OC & unknown price after OI completed) to reduce the gap of financial from my upgrade 700sf to 1200sf. (sorry, can u get me?)
Should be no problem about the loan bcos I’ve roughly checked with Maybank.
1. Yes renovation cost in count. For 2nd house, there’s just standard renovation + current 1st house furniture & electronic items (condition still good & new). Once OI’s ready, EPF will help a lot of the OI’s renovation. Furthermore, 4~5 years saving should contribute certain of that too.
2. Agree! I & my family don’t like it too but have to….
As ur earlier comment “sufficient space for all” if I move into OI. That’s the reason, OI is my choice eventually.
3. Thanks for such info, It’s ok as long as within 6 to 9 months to move into 2nd house.
Because I’m new, that’s y I put the question to share and get ur opinion. Yes, as what you suggested, I will try to keep both (2nd house & OI) if financial allowed after 4~5 years.
Thanks anyway!
Wow, sounds like new property is always better and the best! Anyone know water leaking become a hot issue on the recent completed new condo like d pizza ‘hut’ at bayan baru, and PP Condo just beside USM? They were built not more than 5 years. Why? It is the material. You are not taking risk to see this OI completed, you’re at risk to knowing by first hand if it is going to have such ‘quality’ problem and reliability problem in not so long term. For ready house, at least, you should do some study on both quality and reliabiltiy of that house, before you buy.
Btw, if you’re not the contractor, but one of the ‘worker’ at MNC, running own business, etc. What is your primary job role? and accomplishment that value to most by your boss? It is cost cutting, use the lowest cost and get the same outcome (meeting the minimum requirement of quality as per ‘guaranteed). Mean, always come out with innovative idea and methods to use the cheapest material, lowest labor cost, fastest time, to get similar outcome. Same thing on construction, it is no longer build to last over 100 years, but…..
Penang 2nd Bridge build to last 120 years; London Bowl Olympic stadium build to last 25 years; What do you expecting for? Freehold to last forever? Professional said the residential high rise building only can last ~60 to 70 years…..ask your small kids or grandchild to witness this.
This is the concept of “aiming the sky hit the mountain”. I am staying in 1 of their project. They are not delivered as per my expectation, but still a lot better than some of the other condo.
RM750~800 can get better place than BJ court, in my opinion.
And for the higher end rental market, I do not have much idea. I guess it is for those engineers who are not afford to buy a condo maybe 5 yrs down the road. For me, I will only aim the condo near USM that can rent out to students or lecturer.
Ready or new property serve the different needs. we are not stopping anybody from getting a property from subsales market, so as the new property. But I think the projects in this “Property Talk” are all new projects, right? So we are talking about new project.
Now quality issue pula. The worst quality I saw is DP. Try to get 1 unit of DP, or PP, below 380psf, and see what will happen.
Your statement further strengthen my thinking that we should select new projects rather than subsales.
@Economic Crisis
so waiting OI to be completed 1st & check wether there’s quality issue/some other problem then oni decide to buy? (not oni OI,but other new property too)
@Bryan
DP = Dpiazza?
PP is…?
@Alvin
No need to wait till completed, but this is one of the risk you need to take, if you need a house in 4 years time, then can consider to buy. Quality issue, just your luck, and fix it if you face it in future. PP = Plam Paladium
@Bryan
Haha, you’re not 100% right. Those condo built in 1990th in Anson Road, Gurney, next to Loh Guan Lye few condos; are example of high quality, tough, and reliable, with some antique design on their balcony. But now, you can’t get that quality because, cost!! Cost not allow real red bricks, real steel or stainless steel, real etc. etc. So, don’t expect more on new building, they are no longer built to last long with innovative idea in lower cost yet look nice
1990th all piping and sanitary pipe all built by steel, tough; but now, PVC seal by gum, and many more innovation out there, like your boss ask you everyday, can we lower down the production cost and fast through put time, and yet get the same ‘thing’ out to customer? You have the idea, of course, if not, you can’t survive with your job.
Haha, go and check out one of the Condo that recently built in Penang, that using the ‘lego’ concept, just stack up the mold one by one until the last floor. Like your kids playing lego, that is easy, low cost, faster.
If you follow those expert comments, you will never get a house. Event buy a 5 year old subsales condo, the problem may come in year 6. Buy 10 year old condo, problem come year 11. 20 year old one, then say condo only withstand 60~70 years…..
1. Location not fit.
2. Not sure about the steel grade using, but what is the disadvantage of using those cut cost material? I only know that red brick has better resist to heat and noise.
3. Can’t agree with you on the pipe material. As I know, the current pipe material is a better material which is more reliable and resist to rust. Steel pipe always has leaking and rusty issue. I have been stay in a condo which need to flash the tap water for 5 minutes to flash the rusty water away.
Near USM, You mean N-Park, E-Park, Sunnyville? Don’t tell me are those at Jln Yap Chor Ee, location too bad and rental low.
its now high risk to buy with oversupply n world economic crisis hanging … futher prices on downtrend next year ..
@WTF
Which condo rental is low? How much you know about that area? Show some example.
@WTH
Wow~ first time I heard location of relau/sg ara is better than yap chor ee… yeng!!
@Sahja
Yes, indeed, Relau & Sg Ara will be better, I think you totally out of date. SPICE, modern market, international schoold, new shoplots, road widen, etc. are all aligned in 3 to 5 years from now. Yap Chor Ee road?? always having accident as that area a lot of student and night time become racing track, always seeing ambulance and people crowd there to clear up the accident victims. Beisde the super fast speed traffic, i don’t see anything there beisde the USM and I-Regency empty shoplots. Yeah, and Ivory Plazza nice roti canai.
@Sahja
u refering to WTF lar
Property investment gurus said Penang property is in a glut now…
http://www.theedgeproperty.com/news-a-views/10643-cityacountry-cover-story-the-game-plan.html
I just made a booking for OI…This story make me a nervous……
doggie, yap chor ee and jalan bukit gambir are two diff location
ok la as long as you guys like the congested+”expatriates” place, and thanks for the update.
You want to move from the current 1200sqf + 400sqf garden (also Ideal project according to you) to OI with just just 1200sqf??? mind do tell the reason? I guess there is only 1 such project even though you no need mention the current place you live…
@TS
what tower u book?
@Alvin
Tower D.
@TS
No need to worry, that ‘game plan’ only applicable for those owning 20 to 30 properties in their ‘portfolio’. Ops, may be OI is your 20 or 30th house??
@Sahja
Yap Chor Yee and Bkt Gambier are just head and tail, mat rempit will use the entire route by the way.
read this.
http://www.guangming.com.my/node/149230?tid=23
@Alvin
Buy as much as u can……if not later down the road the price spikes up again ……unless u have solid income which is >RM5000 /month which able to buy even the price went up.
@Alvin
Thanks for your sharing. Will hope for the best !!!
Malaysia property still consider cheap at this moment, so act fast before is too late. for those who are traveller around asia, u should know the market in other countries compare city by city, malaysia property still consider low and value to buy for investment.
@TS
Is a good move to get 1, if not later the price increase, i am not sure how many ppl still can afford to buy it. For those who havent buy a house, pray for the best the price still can remain this few month before the new year come.
@TS
Anyway how much is the unit that u booked?
@IamBroke
RM460k
If you say Relau & Sg Ara will be better 5 to 10 years, maybe got chance if anything planned come true. Along the Bkt Gambier, it is Minden, Greenlane, Sunway…. if you really want to say this place no good, I can’t accept lo (Cantonese).
@WTF
I only surprise if you still don’t know where I stay now. As i said, I like the 1200sf layout of OI and the big recreation area. Current 1 is too small, because of lower number of unit. Also, current 1 would have better rental market and able to collect more rental if this happen. Another reason is, I enjoy living in different place with different design. Shoplot, terrace, semi-d, apartment, condos. OI will be my another experience if I decided to move in finally.
I don’t think your comment is wise.
Listen to developer instead? No wonder the price keep going up in Penang.
property glut coming … prices going down soon
@HM
I think it will be stagnant for some time instead. No need to question the holding power of Penang buyers.
Those hoping for prices to drop then just keep waiting. In the end no
house to buy because what you are hoping for will be just in vain.
@Bryan
Haha! Are you Penang lang? From Ipoh or KL cantonese? Minden is nice for you to see see look look all bangalow belong to the rich, and air liuh meleleh but can find a restaurant selling banana leaf curry rice, very nice. Greenlane? Ya, got Gembira Parade for you to shop and few petrol station to choose. Btw, all the project and upgrade i mentioned at Sg Ara, Relau, Bukit Jambul are all under construction or about to start…..Idaman Iris 850sf selling at RM385k you think is a joke? Because it is at Sg Ara very convenient place and this OI well above RM450k and people are buying…..
Wheather you like it or not, Sg Ara, Relau, Bukit Jambul, Bayan Baru & Bayan Lepas area will be the big city that close to convenient places like industrial area for work, shopping malls like Qbay & Southbay, international airport, SPICE, wet market (including the Relau modern wet market), SOHO, shops like Sunshine, D-Pizza, One World, Golden Triangle, the Arena, Elite Avenue/Jusco, Giant, college, Golf Club, Fairview Int Schools, Metropolitan Park and many more.
Every1 also would like to buy as much property as they afford to before the price increase….. which property or what property to invest is depend on ur own study and analysis. If not what u plan to do??????????
I totally agree…. Sg Ara, Relau and Bayan Lepas areas are the places that will boom in 2-3 years time…. watch it go…. Malaysian properties are cheap….. the only problem is the average salaries…. we must improve productivity and earn more like SG and HK… no use always asking for prices to remain cheap…. that is impossible….history has proven it… anyway PG property (island only as I have no comments on mainland) will always be higher than the rest of the country…..
How to do? They enjoy such “dream”.
To me, Just go ahead the favourite property that you afford. Every people also need a house in anyway.
You just done get it. I was quoting a famous words from a Hong Kong artist. Superman Hiew also like to use that words.
We are just simply different class. What you mentioning is something a living place near or inside a town. But what Minden and Greenlane got is a better residential area and easy access to north and south of Penang island. Whether Sg. Ara and Relau success or not is still remain a plan only, but what you got in Minden, Greenlane, is already happen. Time is money.
OI location still acceptable, as very close to Bayan Baru but the traffic is a problem. That’s why I always checking whether there will be a road connecting to PISA T-junction. Sg. Ara….. only if additional 1~2 access road to that area, I will consider it as good location. I stay in both Sg. Ara and Relau before.
Don’t give your 100% trust to the developer plan ya. Except sPICE, others are not so happening and those future plan can remain a future plan. Too much experience that developers took > 10 years to fulfill the future plan. Some event never turn true.
Too a certain degree, you are right. But your comment seem to be asking ppl buying property as much as possible, not need to think so much. I think you are trying to in fluent ppl.
Don’t worry. I think you move is reasonable. Just need to be caution on the market situation and decide what to do with your 850sf property.
I see.
1. Sell it if good price to lower the commitment of OI
2. Rent it out to cover OI
3. Worst come to the worst,keep it but a bit suffer to OI ( still ok )
Time will tell
@Alvin
now at ~RM800 for N-Park and 1300sf at D-Piazza at RM1200, rental is suck and next year, need to have special promotion price in order to rent out.
Don’t expect too much on the rental, even now N-Park previously rent at RM1200; but now you hardly can rent at this price even with the nicest reno and furnish
@Economic Crisis
Dun simply assume the rental. Few of my frez rented their d pizza unit at rm1500-1800 with basic renovation.
You guys got no data and get it wrong, Penang properties is NOT THAT CHEAP, but M’sia CURRENCY (RINGGIT) IS CHEAP… that’s why economists prefer to use household debt to GDP(or disposable income) to gauge the affordability.. see this link with graph from Penang Monthly sourced from Bank Negara..
http://anilnetto.com/society/poverty/malaysians-struggle-as-household-debt-soars/
hee hee hee..
Yes, I am encouraging people to buy more property when they are still can afford to, ofcause need to strategise how to own the house and differ ppl from ppl. So mind to share urs strategy for property investment? and so far how many property u had add in to ur portfolio?
I also buy block D, but 500k++ . Yours consider cheap.. With or without car park?
@onered86
U bought with 2 car parks? high floor or middle floor?
@onered86
Yeah ! In that case, we are going to be neighbours, provided the bank approved my loan.
@TS
As long ur debt over income ratio is low, and try to find those banker that can offer over high debt/income ratio.
@TS
Yeah~!. Good to have you as neighbours. I think loan for sure will approve. I just concern about the 10% deposit.
@IamBroke
Ya, I bought 2 car parks. Honestly, additional car park for 25K quite costly for me
@onered86
You brought 2 carparks ? 1 + 2 (extra) ?
I just submitted a bank draft of RM10k to San & Associates yesterday. Chosen Tower A, low floor. Hope that the bank able to approve my loan because we have 3 persons are committing the monthly installment upon OI 100% completion. Ya, finger cross and hope to be you guys neighbor after 3 years later.
@Anson Lim
Congratulation!
How much? type 1200sf?
@Alvin
I wanted a 1200sf for lower floor, unfortunately occupied. So I eventually chosen the 1050sf as I doesn’t mind about the space. But I requested for additional 1 car park lot. lol
@Anson Lim
Did you received any receipt with signature from them?
@onered86
You just remind me about the receipt. They dint give me the receipt but just a copy of my cheque with the signature of the sales guy.
better dont buy now … next few years will see stunning changes .. oversupply, empty units, worsening economy worldwide, debt default, bankruptcy n prices falling … !
@R .. Dog
Economy worsening for next few years? All the way to GE14? Or GE15?
wah, I dare not to say this lah.. later people said me sabotage.. but cash rich investors should still buy, penang got lots of potential.. hee hee hee…
@R .. Dog
R.Dog how many property you had acquired?? a few years later, if you wan to buy property hmmmmmm good luck. unless u have a strong income :).
Actually i don’t understand why talk about economic in future, people income strong or not…..
Totally out of OI topic and out of our control…
Got any more useful info to share example when the Tower B going to launch with what price? Tower A sold out? When can sign S&P?…. i believe people will more interest to know about that. Agree?
@WTH
Pizza Condo can rent RM1800 for basic reno?
@small fish
You are right, but your statement only applicable to those buy for own living ONLY. There are lots of ‘commentators’ here are investor or speculator in property. Investor will be interested in near future economic, while speculator will comment all rubbish just to goreng till hot hot on this OI.
Seems they are asking people don’t buy OI
Don’t buy?? But selling like hot cake! If really no good, the sale can be so good?
@onered86
Are you telling me this project gonna be a scam? don’t you?
I think not buying is not the point, but one need to judge own financial condition so that no over-commit and prepare for economy downturn which may last for some time.
oh you are the one intend to…..
OI costs about half million,it’s big amount & long-term commitment indeed.
@Alvin
Most will buy now and sell after completion and make some money, whether can make RM10k or RM100k is base on the economic climate during completion time; as long as can earn some money. It may not be long term commitment.
Heard that Samsung or Korea base company is going to invest in Penang, is that true? or purely rumour? As long as Penang is going to attract direct investment, the property price will keep on increasing as demand is always more than supply.
Yes, Yes, please buy more..hee hee hee..
Those buy for own stay also need to consider the economy condition during the construction period la. If economy bad, developer may have difficulty to deliver and may abandon the project too, especially developer with so many projects on hand. If cash cannot turn, bankrupt liao.
After CF, also need to ensure the property price is appreciated (economy good). Because I saw some people throw money to renovate their condo, stay for 6 months than found out:
1. The condo, location, environment as soon on not suit to their lift style, or
2. They can actually sell this condo and upgrade to landed.
Then they can sell it with profit to cover the cost of owning other property.
So, don’t always think people buy for own stay, won’t care about the property price appreciation (with good economy).
If only want to discuss launching date, SPA signing…. what you need is just keep in touch with the sales agent. Then this forum close until CF, then start discuss about the renovation, JMC….
Here, we need to explore more information that the developer will not tell you.