Malaysia & Singapore Real Estate

[linustw]

[linustw]

East facing


Block C, east facing – possible view
This pix was taken using hot air balloon, giving prospective buyers a glimpse of the likely view from East facing units. Presumably this is the view on 7th floor apartments, or 12 storey high. This pix was taken about 12mths ago, according to source.



South Facing


West Facing


North facing


Entrance to Apartments. Double width entrances.


Close-up on Shop lots


Close-up on retails podium.

[Pai]

this project seems decent with attractive pricing, but how solid is the developer?
_________________
Nothing in this life that is worth goin' for, comes easy.

[brutus1]

[brutus1]

[brutus1]

[Pai]

hm, the thing is past performance doesnt always equate to future delivery

Think I'll skip this one for now, rookie developer and current downturn combo doesnt sound safe to me
_________________
Nothing in this life that is worth goin' for, comes easy.

[brutus1]

[sunrain]

[Pai]

[linustw]

Not really, but at this trying times, I'll ask these questions :

1. How solid is this developer? Have they survived 97/98? how much cash reserve do they have?

Obviously not. This is the major obstacle for this company and this project.

2. Given the location and price, dont you think its "too good to be true"?

It only tells us that how much big developers like YTL, IOI and Setia have emassed from house buyers all these years. If new developer can develop and sell at 210/sqft, it's just a day light robbery for all these biggies to sell above 300/sqft.

This project does have two solid panel bankers behind, EON and UOB. Do you think the banks will blindly "back" them up if their proposal is not sound? Dun know how bankers work. can anyone enlight?

3. They have 700 units available, a better option to stay out for now, wait until its 60% or 70% complete and economy recovers, then only go in. Why take the risk now?

True. It's all about risk vs max. gain. If one were to buy "insurance", get in later. I don't know their strategy. Will their do the "UOA" thing by jack up prices by 30% on second block?

Also, was told that block A will be sold to overseas buyers at much higher price. Maybe they are thinking of making most of their money from this group?

4. Lastly, when everybody else is selling a fish at min RM3, u have to wonder why a good fish seller has to sell their fish at RM2.

New developers usually sell at lower price, because of reputation and also less money spent on publicity and social responsibility. Smaller developer also has lesser Head office expenses. I remember M18 also sell at "discount" 3 years ago.

But, if u have balls of steel and 100% faith in this developer.........by all means buy a few units coz I think its a good deal.........too good perhaps to signal me the "red" flag.... :scratch

Yes, agree that it's a steal deal......guess in this trying times, only developer that got balls will launch ambition products. Hmmm.....I admire their approach. They are not greedy. They could have waited 2 more years and then launch sometimes closed to SW prices.....dun know why they choose to launch now.....maybe there is lesser competition now, so good for newbie to get in....dun know......

I am still deciding if I should be greedy or fearful when everyone else is fearful.

[brutus1]

[Pai]

Guys,

Its your hard earned $$$, all Im saying is you should CAREFULLY consider the risk involved if you decided to buy :

1. surprisingly cheap product
2. from an unknown developer (certainly no bluechip)
3. short term MY economics doesnt look bright.

If you are tired from losing money to uncle Lim and looking for other means of "donations", pls go ahead.............
_________________
Nothing in this life that is worth goin' for, comes easy.

[linustw]

Pai u are sifu in property, so your opinions are always highly appreciated and your bullet points do carry weight. BUT lets us look at these objectively:-

1. surprisingly cheap product
Actually it's not cheap. This project is VERY high densed....720units packed in 5.9acres = 122units/acres. Usual condo projects are ranging from 60 to 70. So the total gross income is still sizable for the developer. It's not as cheap as we preceived. Anyway @ 200/sqft, puchong address...I think it's very reasonable than speculatively expensive.

Your point 2 & 3 are spot on.....ultimately it's a fine line btw faith and gamble. But what in life is not about faith and gamble? from study, work to marriage? Best of all, the choice is on one's hand.

I stand up promoting this project as "good catch", but certainly need to monitor and gather more information on the developer's ability to complete this project at this trying time. If they can lock in sell, I believe they can build.

For this price, it's literally bread and butter dwelling for very average malaysians, and the demand will be there. Let's see

[KK]

[silverlance]

However, type A near the Zest main entrance end yard is actually facing one of Block B's unit's 2nd bedroom..

Anyway, type B do have advantages of having an area in the front door where you can build a shoe cabinet as compared to type A. Also, type B has a small utility room which type A does not have.

Overall, both design has their pros and cons..

[gks]

Clever move by developer to place shoplots cover carparks as carparks is quite eyesore...

RM200psf not very expensive but definitely not cheap in Kinrara area... But given than the nearest competition with nearest concept is SetiaWalk (cheaper and of course inferior product than SetiaWalk), i guess that prospect buyers will bite this.

[gks]

Type B come with open concept kitchen but with darkroom. Darkroom for me is a big no-no. Not only lack of natural light but most important is window is facing corridor and hence lack of privacy.

Type C also quite interesting as the only type with walk-in wardrobe.

My vote goes for Type A as no dark room, corner unit and price psf wise not much different with other type

[linustw]

more inferior than Setia Walk in terms of overall concept and dynamics, I agree.

more inferior than Setia Walk in terms of products quality and furnishing, I relunctantly disagree. As far as apartments are concerned, this ZEST matched SW all the way with better interior furnishing, better view option and better looking exterior and common area, with 40% cheaper......

[linustw]

[gks]

[brutus1]

No absolute better units. Problem with Type A:-
1. more expensive, by at least 20k, same floor with Type C.
it is also because it is the largest of all types
2. furthest walk away from lift
privacy and less noisy
3. main door faces opposite unit
very muhibbah, no?
4. main bedroom door faces 2nd toilet
agreed
5. dining area faces two bedroom doors, lack of privacy
individual preference but in terms of furniture arrangement, will be compromised a bit
6. KLCC view might be compromise, if take units further away from highway
agreed

[gks]

[cream]

As the lift is stick next to it type C MBR,
anyone know if the MBR will be noisy?

[linustw]