Project name:
Botanica 3
Area:
Botanica CT, Bandar Baru Air Putih, Balik Pulau
Developer:
MTT Properties Development Sdn Bhd
Type:
3 Storey Terrace House
Tenure:
Freehold
Tenure:
Freehold
Price range:
from RM629,969 to 1,157,140
Size range:
from 2,680 to 3,650 ft2
from RM629,969 to 1,157,140
Size range:
from 2,680 to 3,650 ft2
You can get more info from the following websites:
http://www.botanica-ct.com.my/
http://www.iproperty.com.my/developments/2203/Botanica_3_-_3_Storey_Link_House
http://www.botanica-ct.com.my/
http://www.iproperty.com.my/developments/2203/Botanica_3_-_3_Storey_Link_House
The developer:
MTT Properties Development Sdn Bhd [Website] incorporated since 1963 (48 years in business).
Their main business is shipping. logistics, trading etc.
They have also formed The Prince of Wales Island International School which is Malaysia's first British-style boarding school. [Website]
Location:
This development is far away from the prestigious George Town. This 300-acre Botanica.CT garden township development is currently planning to be completed in 9 years.
Price:
Compare with other developments in Balik Pulau:
Price:
Compare with other developments in Balik Pulau:
- Clove-Taman Titi Heights ~ price from approx. RM235/ft2 (price info @ July 2011) ~ same as Botanica 3
- Orchardia ~ price approx. RM235/ft2 (price info @ Jan 2012) ~ same as Botanica 3
My View:
The price/ft2 is same when compare with two other developments, Clove-Taman Titi Heights and Orchardia, in Balik Pulau as shown above.
Based on 90% loan for RM629,969, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM2,839. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM2,839 per month to rent a place in Balik Pulau?
Based on 90% loan for RM629,969, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM2,839. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM2,839 per month to rent a place in Balik Pulau?
Don't forget the approx. monthly repayment of RM2,839 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 is not really a good investment opportunity. Most of the shopping malls, restaurants, offices, transportation etc. are concentrated on the east sides of Penang Isalnd (George Town). Will people willing to rent a place far away and travel to George Town all the time?
If location is not an issue, for own stay you can consider this as it is difficult to find similar property in George Town for less than RM300/ft2.
For own stay & hoping to sell it with profits in the future, you might need to wait for at least 5 or 10 years?? Until Balik Pulau fully developed??
Other developments with similar RM/ft2:
If location is not an issue, for own stay you can consider this as it is difficult to find similar property in George Town for less than RM300/ft2.
For own stay & hoping to sell it with profits in the future, you might need to wait for at least 5 or 10 years?? Until Balik Pulau fully developed??
Other developments with similar RM/ft2:
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