Pan'gaea @ Cyberjaya by OSK Property Holdings Berhad

Project name:           Pan'gaea
Area:                       Cyberjaya
Developer:               Wawasan Rajawali Sdn Bhd 

Type:                       Serviced Residence
Tenure:                    Freehold (Commercial Land)

Price range:              from RM188,800 to 450,000 
Size range:               from 450 to 880 ft2

Price/ft2 range:         from approx. RM420/ft2

*Above info @  June 2011 

 

You can get more info from following website:
http://www.pangaea.com.my/
http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2119

The Developer: 
Wawasan Rajawali Sdn Bhd is a subsidiary of OSK Property Holdings Berhad which is listed on KLSE.

It develops various residential, commercial, and industrial properties, as well as offers property management services. The company's property portfolio includes commercial and housing development, supermarkets, shopping complexes, bungalows, and office buildings. OSK Property Holdings Berhad is based in Kuala Lumpur.

Location:

Cyberjaya is far away from KLCC, but it is just 20 minutes by road to KLCC during peak hours via the Maju Expressway (a mere 26km). It is next to Putrajaya.

Cyberjaya township launched in 1999 by the country's fourth Prime Minister YABhg Tun Dr Mahathir Mohamad, with the purpose to develop this area become Malaysia's First Intelligent City.

Google Map

Map DataMap data ©2011 MapIT, Tele Atlas - Terms of Use

Price:
Compare with other developments closed by:

• Serin Residency @ Cyberjaya ~ price approx. RM308/ft2 (price info @ Dec 2010) ~ Pan'gaea is approx. 36% higher
• The Arc @ Cyberjaya ~ price approx. RM383/ft2 (price info @ April 2011) ~ Pan'gaea is approx. 10% higher
• Gardenview Residence @ Cyberjaya ~ price from approx. RM451/ft2 (price info @ Aug 2011) ~ Pan'gaea is approx. 7% lower [Read My Previous Blog]

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

• Boulevard Residence Damansara @ PJ~ price from approx. RM472/ft2 (price info @ April 2011) ~ Pan'gaea is approx. 11% lower [Read My revious Blog]
• 8 Petaling @ Sri Petaling ~ price from approx. RM346/ft2 (price info @ Aug 2011) ~ Pan'gaea is approx. 21% higher   [Read My Previous Blog]

My View:

The price/ft2 is approx. 36% and 10% higher than Serin Residency and The Arc respectively. These developments are located in the same areas.

36% increased in less than a year, just around 6 months, you might want to ask yourself, is this normal? Is the price/ft2 increased sustainable?

Besides, if you look at the price/ft2 shown above for developments within Cyberjaya, the difference became lower n lower since Dec 2010..... from 36% down to 10% then now 7% less than Gardenview Residence. The price/ft2 has reached top end? Less n less ppl willing to pay higher price/ft2 for this area?

If you compare it with developments within prime location like PJ & Sri Petaling, the price/ft2 is lower for 8 Petaling @ Sri Petaling and slightly higher in Boulevard Residence Damansara @ PJ as shown above.

How long does it takes to fully developed an area before it became well known or consider as prime location by ppl? 10 years?

Based on 90% loan for RM188,800, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM850. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM850 per month to rent a small place 450ft2 in Cyberjaya?

Don't forget the approx. monthly repayment of RM850 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)

If you want a bigger home for own stay and lower price/ft2, you might consider other options, check out my previous blog:

• Sutera Residences @ Kajang ~ Semi-Detached House ~ size from 2,870ft2 ~ price from approx. RM296/ft2 [Click Here For My Previous Blog]

RM420/ft2 for Pan'gaea @ Cyberjaya is consider high to me (at the top end). With this price/ft2, I prefer to invest in properties closer to KLCC.