Boulevard Residence Damansara @ PJ by OCR Sdn Bhd

 
 

Project name:          Boulevard Residence Damansara
Area:                       PJU6A, Petaling Jaya

Developer:               Ong Chong Realty Sdn Bhd (http://www.ocr.com.my/index.asp)

Type:                       Condo

Tenure:                    Leasehold

Price range:              from RM400,900
Size range:               from 850 to 1,900 ft2

Price/ft2 range:        approx. RM472/ft2
Total Units:              300 units
Maintenance Fee:    RM0.25/ft2
*Above info @ April 2011 

You can get more info from following website:

http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2054

http://www.youtube.com/watch?v=anyaoaIG13E (check this video for this development, very nice ^_*)

The developer: 
started business in 1989 (22 years in business) and majority of their developments are in PJ areas.

Location:

Not far away from KLCC. PJ is one of the prime location in Klang Valley, that's why the price is approx. 65% higher than Selayang or Puchong. You can check out my previous blogs for:

• 228 Selayang Condo (Aveda 228) @ Selayang(http://awonginvestment.blogspot.com/2011/09/228-selayang-condo-aveda-228-by-mahumas.html)

• Calisa M @ Puchong (http://awonginvestment.blogspot.com/search/label/Malaysia%20Properties)

The price/ft2 for the above two properties are approx. RM286/ft2.

Google Map

Map data ©2011 MapIT - Terms of U

Price:
This development price/ft2 is approx. 36% more than 8 Petaling @ Sri Petaling (http://awonginvestment.blogspot.com/2011/08/8-petaling-by-petaling-garden-sdn-bhd.html) which is slighty a bit further away from KLCC compare to this development.



My View:
RM472/ft2 is a bit steep to me. 

Based on 90% loan for RM400,900, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM1,806. If you are planning to buy & rent for investment, you need to take this into consideration. Will ppl willing to pay more than RM1,806 per month to rent a place in PJ?

Don't forget the approx. monthly repayment of RM1,806 excludes following items:
a) Maintenance fees
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)

To me I still believe the property prices in Klang Valley are too high at the moment and should collapse soon (maybe after 2012 election). Unless you are desperately to invest now, we shall keep more cash in hand for rainy days.