Altitude 236
Area:
Bukit Manda'rina, Cheras
Developer:
Manda'rina Sdn Bhd (IJM Land Berhad)
Type:
Condo
Tenure:
Leasehold
Tenure:
Leasehold
Price range:
from RM642,000
Size range:
from 1,389 to 2,820 ft2
from RM642,000
Size range:
from 1,389 to 2,820 ft2
Price/ft2 range:
from approx. RM462/ft2
You can get more info from the following websites:
from approx. RM462/ft2
Total Units:
236 units
*Above info @ Sept 2011
You can get more info from the following websites:
The developer:
Manda'rina 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 [Website] and IJM Corporation Berhad [Website] are listed on KLSE with a current share price of 2.25 and 5.98 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:
This development is in KL/Cheras and closed to Cheras Leisure Mall, Cheras Pantai Medical Centre and Sri Cempaka International School.
Price:
Compare with other Condo developments closed by:
| Google Map |
Price:
Compare with other Condo developments closed by:
- M Sentral @ Jalan Tun Razak/Pahang by Mah Sing Group ~ price from approx. RM700/ft2 (price info @ Aug 2011) ~ Altitude 236 is approx. 34% lower
- Cendana @ Jalan Sultain Ismail by Tan & Tan Developments ~ price approx. RM766/ft2 (price info @ June 2011) ~ Altitude 236 is approx. 40% lower
- Setia Sky Residences @ Jalan Tun Razak by SP Setia ~ price approx. RM1,151/ft2 (price info @ Feb 2011) ~ Altitude 236 is approx. 60% lower [Read My Previous Blog]
- Ampersand @ Kia Peng by IJM Land ~ price from approx. RM1,244/ft2 (price info @ July 2011) ~ Altitude 236 is approx. 63% lower [Read My Previous Blog]
My View:
As shown above, the price/ft2 is approx. 34% to 63% lower than the Condo developments in KL, therefore based on this, Altitude 236 is consider reasonable.
Besides, condo developments launched recently around Cyberjaya, which is far away from KLCC, are selling more than RM400/ft2.
Based on 90% loan for RM642,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM2,893. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM2,893 per month to rent this?
Besides, condo developments launched recently around Cyberjaya, which is far away from KLCC, are selling more than RM400/ft2.
Based on 90% loan for RM642,000, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM2,893. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM2,893 per month to rent this?
Don't forget the approx. monthly repayment of RM2,893 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)
For buy & rent market, this investment opportunity can only consider as average because you are targeting a smaller group of people especially expat to rent it.
For own stay & hoping to sell it with profits in the future, this is more likely to achieve as a long term investment.
If you like the location and prefer to have a bigger space, you might consider Sh'ng Villas ~ Semi-D ~ which is develop by IJM Land too [Previous post] price from approx. RM545/ft2 18% higher compare to Altitude 236.
To me, although the price/ft2 is consider reasonable, 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.
Other developments with similar RM/ft2:
Other developments with similar RM/ft2:
Sin Chew newspaper reported that the new proposed Duta-Ulu Kelang Expressway (DUKE) will be situated just next to Bukit Manda’rina. This will create noise and pollution and please find below the newspaper link where existing residents already expressed their worried and protest.
ReplyDeletehttp://mykampung.sinchew.com.my/node/180609?tid=6
Correction : It should be Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), not DUKE. The error is regretted.
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