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Recipe for success: Below RM500psf, reputable developer, informative website.

Posted in Buying Condos, and Property related

Recently, within one weekend, YTL sold 80% of its Midfields 2. I remembered my colleague on my right asked, ‘worth buying or not? Starting from Rm450 psf’.’ I said, huh? RM450 psf? I think you better queue there one week before. She said, but the location is not the best. I said, ‘don’t regret’ and I laughed. My colleague on my left said that RM500psf is not possible, supposed to be more expensive than that. I said, but I think for that particular area plus the fact that it’s not really that low density, cannot be priced too high. In the end, all three of us did not buy. For me, I just do not have sufficient downpayment for 30% for these half a million ringgit condos. I need more of those which are half of half a million condos for rental.

midfields2Thus, brings to the recipe of success for 2014. As long as you price it below RM500psf and you are not any ‘Tim, Dick and Harry’ developer, I think it should be ok. Is this all? Well, YTL created a very informative website as well. Here:http://www.midfields.com.my/overview.html   You get to know practically anything in your mind, even though I think YTL already expected it to sell easily. For developers who do not even have a working website or a very poorly designed website TODAY, sorry, if someone were to ask me, I would just tell them, don’t buy. This is 2014, online companies rule the world and everyone is on smartphones and you cannot even launch a new project with a proper website with sufficient information for me to decide whether I should go view or not? You want me to brave the traffic to go there and then decided that I do not like the property?

Someone would now ask me, but what about location, why not location? Let me explain very briefly. If location is very bad, it would not be below RM500psf, it will be below RM400psf. You already know where. If location is very bad, even if reputable developer, would you buy? If location is bad, but it has the best website ever, with even 3D image gallery, would you buy? Nevertheless, I think my term of ‘bad location’ is very different from majority of everyone. To me, a bad location is one where the whole area, there are hundreds of developers. Roads are narrow because left side is developer A and right side is developer B and right in front is developer C. No one bothered to plan because every developer owns just a small piece of land there. That’s a bad location to me. Other than that, as long as it is within 15km from KL city centre, I put that as very good location. Within 25km, I rate as ok.

Please do not ask me, what about those less than 5km away? I have no interest, no matter what kind of descriptive words that the developers use to describe its location. Remember, today, for now, below Rm500psf and you are a good developer who tells the world everything via a very informative website, I will support you and I will definitely ask my friends to at least take a look or be at your launching before deciding whether to buy or not to buy.

written on 17 May 2014

Next suggested article:  Property Investment Slowing, Land Buying Increasing

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5 Comments

  1. asali
    asali

    I reckoned this (MF2) is a good buy because it’s (1) Within 15KM from City, (2) Walkable to Salak Selatan LRT station (800M), (3) Easy amenities e.g Banks, School, (4) Rental on MF1 from RM1700 to RM2400 respectively depending on unit sizing and furnishing, and (5)Less than 2KM drive to future HSR station and (6), (7), and more and more…

    May 20, 2014
    |Reply
  2. tan tze hou
    tan tze hou

    Hi lately i just came across a info that Brunsfield have their project canceled in Iskandar. Just a thought that you might want to write an article about compensation on the cancellation of project? and what is the consumer right on this? Tqvm 🙂

    May 25, 2014
    |Reply
    • Hi Tan, noted. Let me read a bit on this first. I do not have much knowledge about compensation on cancellation of projects. Personally I think it’s just to return the deposit but let me read a bit before writing an article as reference for all of us.

      May 25, 2014
      |Reply
      • Thank you. anticipating on that 🙂

        May 29, 2014

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