I get know about this development since mid last year. However, after checking out the price & build up (last year), I feel it’s more viable to buy an existing apartment called Desa Palma. In fact, I bought 3 units (from sub-sale) in Block E Desa Palma back in Oct 2008 @ RM85k each. Current asking price for units in Block E is hovering around RM140k to RM150k. I’m not sure what the recent transaction price is but estimated paper gain of RM65k just in 3 years is definitely not bad! Which work out to be 25% gain each year. I believe launch of StarZ Valley did influence the price hike in Desa Palma. Thanks to StarZ Valley developer.
Now, let compare Desa Palma (DP) and StarZ Valley (SV).
Desa Palma, DP:
RM150k @ 728 sq.ft = RM206 psf
Installment (30 years) = RM720
StarZ Valley, SV:
RM109k @ 296 sq.ft = RM372 psf
Installment (30 years) = RM530
Average rental for my DP units is RM750. By assuming 3 person stays in this 3 room’s apartment, each student is paying only RM250.
For SV’s studio unit, installment alone is already RM530. I got to know that a major airline is paying RM500 for accommodation allowance. That means we are limiting our market to selected rich students, steward/stewardess or airport staffs. Or course some people is arguing that there is a lot of rich students in private colleges like Inti. However, based on my experience; student is always a student and their spending power is not that high as what we thinking off.
With limited tenant market in Nilai for higher-end (or higher rental) apartment & supply of 1000++ units in SV, I suspect the rental in SV may not even able to cover your bank installment. Furthermore, I don’t think the units can be easily rent out within 1 year of completion due to many cheaper options in Nilai.
For those speculators that intend to buy SV, the target completion is Dec 2014. Do you sure what is the property market by then?
Anyone have different views are welcome to comment.
Location of StarZ Valley & Desa Palma. Both are walking distance from Inti International University. Due to close proximity, Desa Palma is the first option for students in Inti NOW.
Hi
ReplyDeleteDo you think Mesahill is a good buy? It just next to manipal Intl university.
Thank you
@Jenny, Really Really Sorry for my Super Late reply....
DeleteDo you managed to buy some units in Mesahill? Let me know how it's now?
To be frank, i use study this project and went to their showroom in Sunway. However, i didn't invest because still prefer "sub-sale" units in Desa Palma.
Thanks for liking my post...I have many personal information and views to share but getting time to write the posts is a little bit challenge to me.
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ReplyDeleteMy son is going to study at Inti soon, do you have any available room for rent?
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