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Huh? 30 percent sold by midnight before launch?

I had wanted to post a Facebook comment and picture here. However, on second thought, best not to show or else that person may suddenly become too famous. The news was about West Side III condominiums in Desa Parkcity for which 30 percent had been sold the midnight before the official  launch! A close friend and I were just speaking about this particular project a few days ago. She said she has interest to view but her husband was asking her if she is able to rent out after buying one unit. She said she prefer the Pantai Sentral Park which may become another ‘Desa Parkcity’ in future as it is another huge integrated development by another huge developer; IJM. She asked for my opinion. Perhaps it may not matter anymore since 30 percent sold on the midnight before the launch? 🙂
I have been to Desa Parkcity many times. In fact nearly weekly basis during my wife’s pregnancy. She has just delivered our second baby in Park City Medical Centre recently. I like the environment in Desa Parkcity. Everything seemed complete and rows of trees lined up along all the roads. It seemed safe too with the guards looking professional instead of the old and shabby clothed guards in some projects. Therefore, if one would like this kind of environment and has the ability to buy, West Side III is definitely a good buy. It may be too expensive to buy landed within Desa Parkcity but hey, condominium allows you to pay lower but get the same environment.
What about Pantai Sentral Park then? If Pantai Sentral Park (PSP) pans out as planned by the developer, I would prefer this over Desa Parkcity. Reason? PSP is only starting and the overall size of the land is more than twice that of Desa Parkcity. Thus, based on the money that one is able to pay today in Desa Parkcity versus that in PSP, I would like to reason that PSP will give a higher ROI with time. Desa Parkcity is already a matured and very popular neighbourhood. Under the usual stocks guide, it’s quite fully valued. PSP meanwhile is considered a new project and in terms of the usual stocks guide, this is like a manufacturing stock which has just started to hit 20 percent of its capacity.
For me, my mind is clear. If I am buying for staying today, PSP is not going to be even second in my consideration. However, if I already have a place to stay and I am buying with the anticipation of a higher ROI with time, I would personally choose PSP. Oh yeah, to answer my good friend’s husband on whether can it be rented out in future, well, would there be many who would be willing to stay around 15km away and yet paying RM2,500 or higher in rental? Please bear in mind that most of the time, the working location is in city centre and is definitely not anywhere nearby Desa Parkcity. For this, I will let readers answer by themselves. Happy buying.
written on 30 May 2015
next suggested article: Buying property? How much is too high, really?

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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