Olives Residences
Area:
Subang Jaya
Area:
Subang Jaya
Developer:
Conlay Land Sdn Bhd
Conlay Land Sdn Bhd
Type:
Condo
Condo
Tenure:
Freehold
Freehold
Price range:
from RM734,000 to RM1,616,380
Size range:
from 1,469 to 5,535 ft2
from RM734,000 to RM1,616,380
Size range:
from 1,469 to 5,535 ft2
Price/ft2 range:
from approx. RM498/ft2
Total Units:
88 units
*Above info @ Nov 2011
from approx. RM498/ft2
Total Units:
88 units
*Above info @ Nov 2011
You can get more info from following website:
http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2285
The developer:
Conlay Land Sdn Bhd. I never heard about this company before and can't find their company website.
Location:
Subang Jaya is not far away from KLCC and is close to Petaling Jaya (PJ). Subang Jaya also is a city with the highest population in Klang Valley (based on 2010 info).
Price:
Compare with other developments in PJ:
- Boulevard Residence Damansara ~ price from approx. RM472/ft2 (price info @ April 2011) ~ Olives Residences @ Subang Jaya is approx. 6% higher [Read My revious Blog]
- Neo Damansara @ Damansara Perdana ~ price from approx. RM537/ft2 (price info @ Aug 2011) ~ Olives Residences @ Subang Jaya is approx. 7% lower [Read My Previous Post]
- Sé terra ~ price from approx. RM573/ft2 (price info @ Oct 2011) ~ Olives Residences @ Subang Jaya is approx. 13% lower [Read My Previous Post]
Compare with other developments in Shah Alam:
- I-Resident @ Shah Alam, section 7 ~ price from approx. RM521/ft2 (price info @ Feb 2012) ~ Olives Residences @ Subang Jaya is approx. 4% lower
- Acappella Residence ~ price from approx. RM353/ft2 (price info @ Oct 2011) ~ Olives Residences @ Subang Jaya is approx. 41% higher [Read My Previous Post]
My View:
The price/ft2 is approx. 7% and 13% lower than Neo Damansara and Sé terra, respectively.
About the same price/ft2 compare with Boulevard Residence Damansara and I-Resident.
The desity is low as shown below:About the same price/ft2 compare with Boulevard Residence Damansara and I-Resident.
Olives Residences ~ 88 units
Sé terra ~ 46 units
Acappella Residence ~ 125 units
Neo Damansara ~ 266 units
Boulevard Residence Damansara ~ 300 units
Although Acappella Residence density is higher, is it worth to pay extra approx. 41% more to have a lower density condo?
Based on 90% loan for RM734,000, say BLR6.6%-2.4% = 4.2% interest per annum, for 30 years. The monthly repayment is approx. RM3,230. If you are planning to buy & rent out for investment, you need to take these into consideration:
Will ppl willing to pay more than RM3,230 per month to rent a place in Subang Jaya?
Don't forget the approx. monthly repayment of RM3,230 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, the density is low ~ means you might need to pay more for the maintenance fees??
Buy & rent market, this is not a really good investment opportunity as you
are targeting smaller group of people especially expat to rent it.
Although the price/ft2 is consider reasonable when you compare Olives Residences with other developments in PJ as shown above, 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.
Although the price/ft2 is consider reasonable when you compare Olives Residences with other developments in PJ as shown above, 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:
subsale now is below developer price. Any comments on that?
ReplyDeleteYup, i have check the current price range from approx. RM400/ft2 to RM440/ft2.
DeleteThe price/ft2 is lower maybe developer reduced their selling price and buyers bought it at cheaper price.
This development seems like just completed. So main thing is that if this nice location price range is approx. RM400/ft2 to RM440/ft2, do you think those condo selling with similar price or more in Cyberjaya or Putrajaya is worth to be considered? Seems like my previous view is correct :)
Good luck with your investment!