Gardenz @ One South ~ Seri Kembangan ~ by Prop Park Sdn Bhd

Project name:          Gardenz @ One South
Area:                       Serdang Perdana, Seri Kembangan

Developer:               Prop Park Sdn Bhd (www.huayang.com.my)

Type:                       Serviced Residence

Tenure:                    Leasehold (Commercial land title)

Price range:              from RM380,000 to RM520,000
Size range:               from 1,020 to 1,220 ft2

Price/ft2 range:        approx. RM373 to 426/ft2
Total Units:              377 units
*Above info @ July 2011 

You can get more info from following website:
http://onesouth.huayang.com.my/

http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2123

The developer: 
Prop Park Sdn Bhd is a wholly-owned subsidiary of Hua Yang Berhad which started business since 28th Dec. 1978 (approx. 33 years in business) and majority of their developments are in Perak. They also have development in Klang Valley, Johor and Negeri Sembilan.
Hua Yang is listed on the Main Board of KLSE ~ current share price is 1.58
They are the one who develop Symphony Heights too.

Location:

Sri Kembangan is quite far away from KLCC, it is in between Puchong and Kajang. The Site Location is closed to The Mines.

Price:
Although it is slightly closer to KLCC compare to Puchong but the price/ft2 is approx. 30% higher compare to: 

• Calisa M @ Puchong ~ price from approx. RM286/ft2 (price info @ Aug 2011)(http://awonginvestment.blogspot.com/search/label/Malaysia%20Properties)

Another example, it is slightly further away form KLCC compare to Sri Petaling, yet the price/ft2 is approx. 8% higher compare to:

• 8 Petaling @ Sri Petaling ~ price from approx. RM346/ft2 (price info @ Aug 2011) (http://awonginvestment.blogspot.com/2011/08/8-petaling-by-petaling-garden-sdn-bhd.html)

Now compare with same area in Seri Kembangan, price increased 42% in one year??

• The Sanderson @ Seri Kembangan ~ price from approx. RM263/ft2 (price info @ July 2010) (http://www.thesanderson.com.my/) (http://www.iproperty.com.my/developments/developmentreview.aspx?pid=1761)

My View:

Although price is slightly 8% more than 8 Petaling @ Sri Petaling, this might be due to better location (closed to The Mines), better developer (public listed company), more facilities etc. So best way is to go there have a look, compare both development, before making any decision. 

Total 377units vs 8 Petaling @ Sri Petaling which only have 156units. Check below the site plan, still have few more developments to go in the future. So the total units might increased further. 

To some ppl more units might be a disadvantage........ yet it can be advantage too if the development is successful, the price for future development will become more expensive than now, just like what happened in Sentul.

Based on 90% loan for RM380,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM1,632. If you are planning to buy & rent for investment, you need to take this into consideration. Will ppl willing to pay more than RM1,632 per month to rent a place in Seri Kembangan?

Don't forget the approx. monthly repayment of RM1,632 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)

As mentioned before, recently a lot of condo launched around Cyberjaya, which is far away from KLCC, selling more than RM400/ft2.

Thus the price for this condo might consider reasonable (but at top end) to me and I would prefer Sanderson more.

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 or shall not invest in properties more than RM400/ft2 unless it is a prime location not far away from KLCC.