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.


Comments

Faizun said…
How about Serini? Which layout is the best for a) own stay (single) b) flipping.
21 March 2015 at 07:59
Scorp said…
Own stay- the layout that suits your needs and budget.

Flipping - get the smallest or 2nd smallest layout for the best rate of return. The big units may be harder to sell although the amount of profit is higher. Get the big one if you can afford to service the loan while you are selling the place because there is no guarantee it can be sold immediately.
22 March 2015 at 20:32
Post a Comment

Popular posts from this blog

FundMyHome - Malaysia's new property crowd funding review

Hot on the heels of the 2019 Budget speech, the EdgeProperty together with the Government, developers and 2 major Banks (Maybank and CIMB) announced a new scheme to "crowdfund" property purchases called  FundMyHome So let's break it down in point form: It's not a traditional purchase transaction. "Buyers" put down 20% of the property price. For the next 5 years, they can stay in the property or rent it out - there are no details on any restrictions on renovations or major structural changes. You can renovate. There is nothing more to pay, no rent no interest. 80% of the remainder is funded by the 2 banks (hence, where is the 'crowd' in this so-called crowdfunding scheme?) At the end of the 5 years, the buyer can either sell the unit or take up a normal mortgage to purchase the unit in the conventional sense If he sells it and there has been an increase in value - he gets to keep 20% of the profit while 80% goes to the 'investor'. I
Read more

Ryan & Miho Petaling Jaya

Oh dear, I had meant to write a review about this for quite some time but have been busy. Also, I didn't have much time to see the property and the details - only the location which was already very attractive to me. So from the info that I got from the chat with the agent Phillip, the location is next to Jaya One - very nice location because you in PJ but with easy access into Bangsar, Damansara Heights, Mont'Kiara and thus into KL Centre via Jln Parliament or Jln Tun Razak. Jaya One has loads of amenities (although a little quiet for my taste, nonetheless middle & upper-middle class clientele) with office buildings - hence good rental opportunities; or if you are working there then this is an ideal property for you as it has a walkway connecting the condo to the commercial district. Pricing is reasonable at about RM700k+ for PJ area, I reckon that's a good buy. Believe it is leasehold but so is everything in that area, just about. My only grouse would be t
Read more

What does your neighbourhood say about you: Kuala Lumpur

Just a bit of fun.. :) If you live in ___ then you are ____ : Bukit Tunku (Kenny Hills) and Bukit Persekutuan (Federal Hill) = Seriously wealthy, old money, royalty, very low key. Bukit Damansara (Damansara Heights) = just one step below the above, either first generation civil servant families from pre- and post-Independance, politicians and ahem, business cronies. Also, business families who made it big from the 60's and 70's. Wealthy but a wee bit flashier than the Kenny Hills crowd. Still classier than .... Bangsar = Newer money, families of corporate figures and professionals who did well from the 80's onwards. An aspirational neighbourhood, it also attracts ambitious non-KL-born folks here to make it big. The party neighbourhood of the 90's, still remembered fondly for its bars, restaurants and late-night stalls after clubbing. A younger but more low-key  affluent clone of Bangsar is TTDI (Taman Tun Dr Ismail) ; TTDI folks are rather nicer and more easy-
Read more