Arte+, Ampang - new launch


Was walking through Publika after dinner and came across their booth - also, my friend was talking to me about it earlier that day, so it piqued my interest.

Looks like a nice design.

The location is decent - being in Ampang but there are some cons to it that I will get to in a bit.

A brief run through:
 - Leasehold
 - Unit sizes from 500 sf to 1,100 sf
 - Cost per square foot starts from RM600+; so the small studio is about RM400,000
 - About 1,000 units (very dense) with 1 car park per unit
 - The tower blocks are oriented in an East-West manner; West facing = KLCC view, East facing = Ampang / mountain view

Didn't really go through all the facilities and payment option but I hear tell that it is a quasi-DIBS with minimal downpayment and large discount.

My thoughts are:
Pros:

  1. Location is close to town, still within DBKL limits, I believe
  2. Small size, fairly affordable and easy to rent out (maybe!)
  3. Easy access to MRR2, AKLEH and DUKE highways
  4. Close to Ampang Point and Ampang Utama's Korean village shopping areas and Great Eastern Mall if you want something a bit posh; else KLCC and the Intermark are just a few more km down the road
  5. Private lift lobby for the mid to large units! Wah! And security such that other residents cannot stop at other floors
Cons:
  1. Congested. That area is WAY overbuilt and the road infra within that is woefully ill-equip to handle the traffic coming from Arte+, Elements, M-City and the original condo there GCB Court! 

Ok, maybe on the bright side, it will be like another Mont'Kiara with all the condos around - the shops there will do well and more choices for shopping & dining. 

2. Limited public transport - buses only because the LRT is further inside. The sales guy got his facts wrong and told me there was going to be an MRT station in Ampang Point. NOPE, there isn't.

3. Leasehold. No likey. But that is my personal thing - if you're ok with it, dear reader then it's not a problem.

4. Likely to have high maintenance costs on a per unit basis but since the size is small, the ringgit amount shouldn't be that big. Even if they went up to 50 sen, lets say (given that you have your own lift - shared of course but still...), the max is RM550 per month and only RM250 for the studio.

I'm thinking seriously about investing in this one but still undecided. The sheer density and leasehold factor is putting me off.

Nonetheless, it is probably good for young execs (whose parents can help front the hefty downpayment) who are working in the city. Not sure about the rental possibilities. Maybe if I bought 2 units, one to live in and the other for AirBnB, then maybe! hahaha because you're there to keep an eye on the place and clean up etc. Retirement plan maybe hahaha

Overall, looks decent. Buy the mid-range one of 800+ sq ft if you want capital gain and buy the 500 sq ft to rent out for income. The 1,100 unit is on the pricey side to my mind because for the equivalent amount, you can get something bigger.

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