28 Boulevard in Pandan Perdana

Friend of mine who is a real estate agent sent me this - seems interesting..

Project Name : 28 Boulevard
Location : Pandan Perdana
Land area : 5.23 acres
Tenure : Leasehold
Components : Four 45 storey towers with Studios,1,2,3 and 4 bedroom units
Size (Sq ft): 450, 710, 904.
Pricing : from RM600 psf to RM650 psf
Features: 
~Lakeside living
~Affordable pricing
~200,000 Sq ft of facilities
~Sky garden terraces
~Lakefront retail and alfresco dining
~Brought to you by the same people who developed Marc Residence KLCC by Best Boulevard Sdn Bhd


My take:

  1. High density - don't like.
  2. Leasehold - don't like
  3. Lower middle class area - well, usually the food choices are more and better :)
  4. Relatively affordable as it starts from under 300k - but for such a tiny unit.

Reckon it's a buy call if you have the cash to put down a large chunk and rent it out.

I wouldn't buy it for staying nor do I expect the value to appreciate much - oh it will, of course, just not at the level we have been seeing the past few years, that's all.

Still, it would be popular with the younger crowd or lower income earner because a 710sq ft unit is in the low 400Ks - that would translate to a 1,600+ repayment per month. So if a family where dad earns 3K and mum is at 1.8K - take home is 4K+, this is okay.

Working class can afford but don't know about the maintenance fee and the quality of maintenance in future...

Buyer beware, is all I'm saying.


Postscript:
I was just thinking, if one had about 300K+ and bought the smallest unit outright for rental,how much would you be able to charge?

If you are expecting at least 4% return, you'd have to charge a rent of almost RM1,000 a month. Seriously, in Pandan Perdana? That is unimaginable.

Then just a quick scan of an alternative - Dorchester Sri Hartamas has units sized at 410 sq feet for around RM350K.

Wouldn't you rather stay in Sri Hartamas even though at a slightly higher cost? Similarly, renters would be willing to pay to stay there.. hmm.. unless the developer is very bullish on the property market when the project is completed.

I dunno, my bet is still on "posher" areas... they've proven to be more resilient in hard times.. and they stay better maintained too.

Comments

Anonymous said…
I prefer to stay near my family, it doesn't matter if others think it is "posh" or not... There are many things to consider when making a choice

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