Project name: Laman Ceylon
Area:
Jalan Ceylon, Kuala Lumpur
Developer:
Eminent Ace Sdn Bhd
Type:
Condo
Tenure:
Freehold (Commercial land title)
Condo
Tenure:
Freehold (Commercial land title)
Price range:
from RM701,800 to 1,890,000
Size range:
from 624 to 1,604 ft2
from RM701,800 to 1,890,000
Size range:
from 624 to 1,604 ft2
The developer:
Eminent Ace Sdn Bhd. I never heard about this company before and can't find their company website other than http://www.lamanceylon.com
Location:
The condo is located in the Kuala Lumpur’s Golden Triangle. Close by to the KL Tower, KL Twin Towers, and Jalan Bukit Bintang.
Price:
Compare with other Condo developments close by:
Price:
Compare with other Condo developments close by:
- M Sentral @ Jalan Tun Razak/Pahang by Mah Sing Group ~ price from approx. RM700/ft2 (price info @ Aug 2011) ~ Laman Ceylon is approx. 61% higher
- Cendana @ Jalan Sultain Ismail by Tan & Tan Developments ~ price approx. RM766/ft2 (price info @ June 2011) ~ Laman Ceylon is approx. 47% higher
- Setia Sky Residences @ Jalan Tun Razak by SP Setia ~ price approx. RM1,151/ft2 (price info @ Feb 2011) ~ Laman Ceylon is approx. 2% higher [Read My Previous Blog]
- Ampersand @ Kia Peng by IJM Land ~ price approx. RM1,244/ft2 (price info @ July 2011) ~ Laman Ceylon is approx. 10% lower [Read My Previous Blog]
Also compare with developments located in prime location which are not far away from KLCC:
- Neo Damansara @ Damansara Perdana, PJ ~ price from approx. RM537/ft2 (price info @ Aug 2011) ~ Laman Ceylon is approx. 109% higher [Read My Previous Blog]
- Boulevard Residence Damansara @ PJ~ price from approx. RM472/ft2 (price info @ April 2011) ~ Laman Ceylon is approx. 138% higher [Read My revious Blog]
- 8 Petaling @ Sri Petaling ~ price from approx. RM346/ft2 (price info @ Aug 2011) ~ Laman Ceylon is approx. 225% higher [Read My Previous Blog]
My View:
The price/ft2 is approx. 47% and 61% higher than Cendana and M Sentral, respectively. Compare with Setia Sky Residences and Ampersand @ Kia Peng, the price/ft2 is about the same.
Is it worth to pay more or similar price for Laman Ceylon? Don't forget Cendana, M Sentral, Setia Sky Residences and Ampersand @ Kia Peng are all develop by famous developers in M'sia.
Is it worth to pay more or similar price for Laman Ceylon? Don't forget Cendana, M Sentral, Setia Sky Residences and Ampersand @ Kia Peng are all develop by famous developers in M'sia.
- Laman Ceylon ~ 230 units
- M Sentral ~ 1,000 units
- Cendana ~ 152 units
- Setia Sky Residences ~ 938 units
- Ampersand @ Kia Peng ~ 71 units
The density is consider low compare to M Sentral and Setia Sky Residences.
If you compare it with developments within prime location like PJ & Sri Petaling, the price/ft2 is much lower there, at least 109% lower, as shown above.
Based on 90% loan for RM701,800, say BLR6.6%-2.2% = 4.4% interest per annum, for 30 years. The monthly repayment is approx. RM3,162. If you are planning to buy & rent for investment, you need to take these into consideration: Will ppl willing to pay more than RM3,162 per month to rent a place in KLCC?
Don't forget the approx. monthly repayment of RM3,162 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 & location is not an issue, you might consider other options, check out my previous blogs:
- Sutera Residences @ Kajang ~ Semi-Detached House ~ size from 2,870ft2 ~ price from approx. RM296/ft2 [Read My Previous Blog]
- Cubist ~ Bangalow @ Twin Palms Kemensah, Ulu Klang ~ Bungalow ~ size from 4,770ft2 ~ price from approx. RM535/ft2 [Read My Previous Blog]
For condo located within KLCC, the cost can range from RM650/ft2 up to RM1200/ft2, therefore the price RM1,125/ft2 for Laman Ceylon is consider high to me (at the top end).
Buy & rent market, you are targeting a smaller group of people especially expat to rent it.
Although this is consider high to me, yet out there always have rich ppl who willing to pay higher price for properties within KLCC area, like Binjai which cost up to RM3,000/ft2.
Good post Andrew.
ReplyDeleteHow is it compared to Verticas just down the road?
ReplyDeleteVerticas selling price seems like about the same at the moment, starting from RM1,100/ft2.
DeleteHave a higher density with 423units in total.
To me the price/ft2 is high.
May I know what is your review on Laman Ceylon after in 2013 especially after Razak Exchange & SIN MRT to KL MRT future development? Will there be anymore potential?
ReplyDeletehaha... let's take a look at what VIPOD KLCC now has at subsale >1500-1800/sf
ReplyDeleteThe fact is.. there are newer launching will reach this range up to 2K psf not mentioning about the Dijaya and Fourseasons. People are now looking at absolute price not psf nymore
The developer might not be well known but they have a good track record. They are the same guys who successfully completed on time two other high-end condos, Hampshire Residence and another at Jalan U Thant. Heard the whole condo at Jalan U Thant was bought up by a mainland Chinaman as an investment. As for Laman Ceylon, it's almost completed when I checked it out on 30/12/13. Being in KL city centre where land is extremely scarce, this is definitely a good investment. What's more it's an oasis of tranquility in the midst of bustling Bukit Bintang and LRT/MRT/ Monorail, all within walking distance. With all the high quality built-ins and electrical appliances and car parks provided, you can practically move in with just your suitcase! It's not cheap because it's high-end and right in the city centre for goodness sake! But watch the price goes up in future!
ReplyDelete