Ampersand @ Kia Peng by IJM Land

Project name:          

Ampersand @ Kia Peng
Area:                       
25, Jalan Kia Peng
Developer:               
Aqua Aspect Sdn Bhd 

Type:                      
Condo
Tenure:                   
Leasehold

Price range:             
from RM3,150,000 to 7,237,800 
Size range:              
from 2,613 to 5,831 ft2

Price/ft2 range:        
from approx. RM1,244/ft2

Total Units:              

71 units

Maintenance Fee:              

RM0.44/ft2

*Above info @  July 2011 
 

You can get more info from following website:
http://www.ampersand.com.my/

http://www.ijmland.com/property_details/property_details.aspx?pID=74

http://www.iproperty.com.my/developments/developmentreview.aspx?pid=1128

The developer: 
Aqua Aspect Sdn Bhd is a subsidiary of IJM Land Berhad (formerly known as RB Land Holdings Berhad) which is the listed property development arm of IJM Corporation Berhad (IJM), one of the largest construction and infrastructure group in Malaysia.

Both IJM Land Berhad and IJM Corporation Berhad are listed on KLSE with a current share price of 1.70 and 4.38 respectively.

IJM Land Berhad is a famous developer in Malaysia and made its mark by delivering township developments in Penang, Klang Valley, Negeri Sembilan, Johor, Sabah, and Sarawak as well as in China. 

Location:

The condo is within walking distance of KLCC, and approximately 2km from the hustle of Jalan Bukit Bintang. Also, Kuala Lumpur's business district is just minutes away.

Google Map

Map data ©2011 MapIT - Terms of Use

Price:
Compare with other developments closed by:

• M Sentral @ Jalan Tun Razak/Pahang by Mah Sing Group ~ price from approx. RM700/ft2 (price info @ Aug 2011) ~ Ampersand is approx. 78% higher
• Cendana @ Jalan Sultain Ismail by Tan & Tan Developments ~ price approx. RM766/ft2 (price info @ June 2011) ~ Ampersand is approx. 62% higher  
• Setia Sky Residences @ Jalan Tun Razak by SP Setia ~ price approx. RM1,151/ft2 (price info @ Feb 2011) ~ Ampersand is approx. 8% higher  [Read My Previous Blog]

Also compare with developments located in prime location which are not far away from KLCC:

• Neo Damansara @ Damansara Perdana, PJ ~ price from approx. RM537/ft2 (price info @ Aug 2011) ~ Ampersand is approx. 132% higher [Read My Previous Blog]
• Boulevard Residence Damansara @ PJ~ price from approx. RM472/ft2 (price info @ April 2011) ~ Ampersand is approx. 164% higher [Read My revious Blog]
• 8 Petaling @ Sri Petaling ~ price from approx. RM346/ft2 (price info @ Aug 2011) ~ Ampersand is approx. 260% higher   [Read My Previous Blog]

My View:

The price/ft2 is approx. 62% and 78% higher than Cendana  and M Sentral respectively. These developments are located in the same areas and develop by famous developers in M'sia.

Ampersand @ Kia Peng selling point:

• Lowest density condominium in KLCC area (71 units over 2 acres)
• Low rise (5 storeys and 10 storeys)
• Duplexes with private swimming pool
• Whirlpool bath with jets for master bathroom
• Kitchen island with built-in kitchen cabinet complete with hood, hob, oven and kitchen sink erator
• Built-in wardrobe for all the bedrooms

Total units comparison:

• Ampersand @ Kia Peng ~ 71 units
• Cendana ~ 152 units
• M Sentral ~ 1,000 units
• Setia Sky Residences ~ 938 units

Is it worth to pay more for Ampersand @ Kia Peng? Although it is low density, but with a starting price from RM 3,150,000 ~ do you really want to stay in a place sharing facilities with other ppl? someone stay next door (sharing external walls), someone stay above (sharing roof) or someone stay below (sharing floor)? Low rise, only 5 storeys and 10 storeys, means less chance to have a nice view from the condo?

If you compare it with developments within prime location like PJ & Sri Petaling, the price/ft2 is much lower there, at least 130% lower, as shown above.

Based on 90% loan for RM3,150,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM14,196. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM14,196 per month to rent a place in KLCC?

Don't forget the approx. monthly repayment of RM14,196 excludes following items:

a) Maintenance fees (from RM1,150 per month)

b) Assessment tax

c) Quit rent

d) Interest rates increased for the loan (this is the main risk as BLR still low at the moment)

If you want a bigger home for own stay & location is not an issue, you might consider other options, check out my previous blogs:

• Sutera Residences @ Kajang ~ Semi-Detached House ~ size from 2,870ft2 ~ price from approx. RM296/ft2 [Click Here For My Previous Blog]
• Cubist ~ Bangalow @ Twin Palms Kemensah, Ulu Klang ~ Bungalow ~ size from 4,770ft2 ~ price from approx. RM535/ft2 [Click Here For My Previous Blog]

For condo located within KLCC, the cost can range from RM650/ft2 up to RM1200/ft2, therefore the price RM1,244/ft2 for Ampersand @ Kia Peng is consider high to me (at the top end).

Although this is consider high to me, yet out there always have rich ppl who willing to pay higher price for properties within KLCC area, like Binjai which cost up to RM3,000/ft2.