Neo Damansara (Tower 2)
Area:
Damansara Perdana,
Petaling Jaya
Area:
Damansara Perdana,
Petaling Jaya
Type:
Serviced Residence
Tenure:
Leasehold (Commercial land title)
Price range:
from RM260,000 to RM680,000
Size range:
from 421 to 946 ft2
Price/ft2 range:
approx. RM537 to 719/ft2
Total Units:
266 units
*Above info @ July 2011
The developer:
Paradigma Intan Sdn Bhd is a wholly-owned subsidiary of EMKAY Group
which started development since 1983 (approx. 28 years in business) and majority of their developments are in Selangor and Perak.
Paradigma Intan Sdn Bhd is a wholly-owned subsidiary of EMKAY Group
which started development since 1983 (approx. 28 years in business) and majority of their developments are in Selangor and Perak.
Location:
Damansara Perdana is not far away from KLCC, it is closed to Taman Tun Dr Ismail (TTDI) and surrounded by few areas which have been developed successfully in the past eg. Desa Park City and Kota Damansara.
| Google Map |
Map data ©2011 MapIT -
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Price:
- Boulevard Residence Damansara @ PJ ~ price from approx. RM472/ft2 (price info @ April 2011)(http://awonginvestment.blogspot.com/2011/09/boulevard-residence-damansara-pj-by-ocr.html)
Another example, the price/ft2 is approx. 4% lower compare to another development in PJ:
If you compare with 8 Petaling @ Sri Petaling which is slightly further away form KLCC, the price/ft2 is approx. 55% higher:
- Eve Suite @ PJ ~ price from approx. RM560/ft2 (price info @ Feb 2011)(http://www.evesuite.com.my/main.html)
- in the market now is selling approx. RM512 to RM602/ft2 (you can search this in iproperty.com)
- 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)
My View:
Although price is slightly 14% more than Boulevard Residence Damansara @ PJ, this might be due to better location (nearby got Tesco, The Curve, Ikano etc.), better developer, more facilities etc. So best way is to go there have a look, compare both development, before making any decision.
Total units is about the same, 266units vs Boulevard Residence Damansara @ PJ which have 300units.
Based on 90% loan for RM260,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM1,171. If you are planning to buy & rent for investment, you need to take this into consideration. Will ppl willing to pay more than RM1,171 per month to rent a place in Damansara Perdana?
Based on 90% loan for RM260,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM1,171. If you are planning to buy & rent for investment, you need to take this into consideration. Will ppl willing to pay more than RM1,171 per month to rent a place in Damansara Perdana?
Don't forget the approx. monthly repayment of RM1,171 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)
Another point, RM1,171 is for a small place of 421ft2, will it easy to rent out? Here is not like Hong Kong or Singapore, ppl in Malaysia normally prefer to rent a bigger place.
Although the price for this condo might consider reasonable compare to Boulevard Residence Damansara @ PJ and Eve Suite @ PJ, but at the moment I still prefer others properties where the price is not more than RM400/ft2.
Hi Andrew,
ReplyDeleteI plan to invest in Tiara Damansara, it is an old condominium at SS17, currently it is priced at about 380/sqft. Do you think this would be a good buy?
Thanks.
KC
The advantage of this property is that it is Freehold and location is good.
DeleteAssume price is RM430k, 90% loan for 30yrs @ 4.2% interest, monthly repayment is approx. RM1,892.
Not sure how old is the property but for RM380/ft2, you can actually get a new property, maybe location not as good as this.
Unless you desperate to invest now, better wait for the economy to crash. Property price in Hong Kong, Singapore, China etc already started to go down.