Monday, 13 October 2014

Nadayu 63

I wrote about Nadayu 62 earlier.

Lately, the banners and billboards for Nadayu 63 have come up.

296 service apartment units (small-ish), ranging from 500+ sf up to 1,100 sf at around 800+ per square foot.

There are also 42 retail units starting from RM3.2 million each - so basically, there's going to be a mini mall within Nadayu, so they won't even need to venture the 2km distance to the upcoming Melawati Mall.

Completion date estimated in 2017 and leasehold.

Very interesting - it looks like Nadayu is trying to create a self- contained village by having enough critical mass of younger people who can afford the smaller units to ensure that the mall is self-sustaining to benefit the low dense bungalow dwellers.

So do we like this? Well, the location is lovely - very quiet, an annex or appendix of Melawati. The con is that it is a leasehold and maintenance is likely to be pricey - because you're paying for the exclusivity (although, I don't think 296 units in a building is exclusive! LOL).

The crucial factor here - and this is new to Nadayu - is the tenant mix of the retail centre. Notice that they are selling the shop lots - this is actually a danger sign to me. Because all the good malls nowadays never sell their shop lots because they want to control the mix of tenants to ensure that the mall is functional and popular.

If you sell off the retail units, what's going to happen is that the owner is going to rent it out to whomever, so long as he gets to collect rent. Now, in an ideal world, the tenant would then create a business that is suitable for the residents and visitors, right?

Well, that doesn't always happen. Just look at Endah Parade... shudder...

So, buy if you just want to live there - it is becoming 'affordable' to live in Nadayu now.

I don't think this is a buy and flip for profit - much as I love Melawati, the rate of growth is pretty slow. You'd be better off flipping Serini.

100th post!

I know, this is a cheat post - just post something and it becomes number 100 already! hahaahha

Dodgy? 33.2% discount on a new property?!


Wah, I got this sms, and I quote:

"New-Launch@beside Paradigm Mall Kelana Jaya
 - 33.2% disc
 - Cash back RM160k
 - 90% loan
 - P/Furnish
 - shuttle bus to LRT
 - 2year CF "

This makes me wonder - is the RM160K the 33.2% discount or are they 2 separate things altogether?

The whole thing sounds too good to be true and even if it were true, then it begs the question - if you could give away such a Hefty discount of 33.2% (not knowing what the actual price is, mind you) then surely you must have really overpriced it in the first place.

Then the RM160k, if you can afford to give it back then why ask for it in the first place?

Anyway, all this is fine, whatever, marketing gimmicks and what have you - if it makes the sale, fine.

But seriously, it just means that you're taking the buyers for a ride, isn't it?