Viewing properties: 3 Residen, Melawati

In my seemingly never ending quest to purchase another property, I thought I might as well document my thoughts here on what I've seen so far.. sort of like a reminder / diary for myself. Age IS catching up after all!

OK, so went to have a look at the Type A unit in 3 Residen which is 1,389 sq ft with an asking price of RM700,000.

I've been to the launch of this development a number of years back and have seen the show unit. Now, finally having a look at the completed one.

The positive:

  1. The location in Melawati is not bad, in that it is next to the hills so there is some greenery that is unlikely to be torn down
  2. The large foyer is a unique feature and does set the unit back away from the common area, so there is some sense of additional private space before you enter the unit proper - although one could also say that it is a waste of space. Depends.
  3. The movable panels for your office / private entertainment area that can be closed off is a clever touch
  4. The triangular shape of the building ensures that you only share one wall with your next door neighbour, effectively like a "semi-detached".
  5. Relatively low density with under 200 units in all.
  6. 2 car parks per unit (Tower B)
  7. Access is good - either from the highway or through Melawati
The negative:
  1. The noise coming from the Middle Ring Road is constant. CONSTANT. We were there on a weekend and it was noisy. I can't imagine how it is like on weekdays.
  2. Very low occupancy at the moment and a number of owners have not paid their maintenance fees. Could be an indication of a high proportion of speculative buyers who do not feel responsible for the upkeep of the property. Also a high risk that this development will have more renters than owner-occupiers. At the high price of 700k, you can expect only one kind of tenant : foreigners and no, I don't mean expats or Malaysia My 2nd Home retirees.
  3. Maintenance fees is about RM500 a month at 36sen per sq ft. That is an eye-opener, really. I've seen 40 sen psf being levied but this was for condos in KLCC, Bangsar and Kenny Hills. Ok, yeah, rising costs and all that but it seems a bit much.
  4. The groove on the floor for the panels cuts up the space such that even if you decide to keep the space open, the demarcation is very obvious.
Overall, it's good if you want security, a layout that is not controversial and a good location - provided you're alright with the sound of traffic.

Comments

Anonymous said…
Choosy owner will pay his own installment forever. lucky you if still get expat interested to rent your unit, expect malay or local to fork out rental +rm 2500 pm? dream on.
21 December 2013 at 18:43
Scorp said…
There are locals (Malay or otherwise) who are willing to pay high rentals for whatever reason.
26 December 2013 at 08:46
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