Project name:
The Loft - ZetaPark
Area:
Setapak
Developer:
ZetaPark Development Sdn Bhd
Type:
Condo
Tenure:
Leasehold
Condo
Tenure:
Leasehold
Price range:
from RM399,800 to 815,800
Size range:
from 689 to 1,410 ft2
from RM399,800 to 815,800
Size range:
from 689 to 1,410 ft2
Price/ft2 range:
from approx. RM580/ft2
Total Units:
470units
Maintenance fees:
approx. RM0.30/ft2
from approx. RM580/ft2
Total Units:
470units
Maintenance fees:
approx. RM0.30/ft2
*Above info @ Dec 2011
You can get more info from following website:
http://www.fittersgroup.com/CoreBusiness.aspx?id=8
http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2356
The Developer:
ZetaPark Development Sdn Bhd is a subsidiary of Fitters Diversified Bhd [Website]
Fitters Diversified Bhd is listed on KLSE (since Oct 1994) with a current share price of 0.62.
Setapak is not far away from KLCC as shown below and it is close to Melawati and Wangsa Maju.
| Google Map |
Price:
Compare with Condo development in Setapak:
- Zen Suites @ ZetaPark (same developer) ~ price from approx. RM462/ft2 (price info @ Dec 2010) ~ The Loft - ZetaPark is approx. 26% higher
Compare with Condo development nearby:
- Saville @ Melawati ~ price approx. RM375/ft2 (price info @ Oct 2010) ~ The Loft - ZetaPark is approx. 55% higher
My View:
The price/ft2 is approx. 26% to 55% higher than other Condo developments as shown above.
Price/ft2 gone up 26% to 55% in a year time? Is this reasonable? Besides Zen Suites @ ZetaPark is developed by the same Developer. You should go visit these developments to see the difference and find out the reasons.
Total units comparison:
- Zen Suites @ ZetaPark ~ 288 units (Leasehold)
- Saville @ Melawati ~ 408 units (Freehold)
- The Loft - ZetaPark ~ 470 units (Leasehold)
Based on 90% loan for RM399,800, say BLR6.6%-2.4% = 4.2% interest per annum, for 30 years. The monthly repayment is approx. RM1,759. If you are planning to buy & rent out for investment, you need to take these into consideration:
Will ppl willing to pay more than RM1,759 per month to rent a place in Setapak?
Don't forget the approx. monthly repayment of RM1,759 excludes following items:
a) Maintenance fees (approx. RM207/month)
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)
Buy & rent market, this is not really a good investment opportunity as you are targeting smaller group of people, eg. expat or people working in Setapak or nearby. For RM1,759+207=1,966/month, you can easily rent a condo nearer to KLCC (even bigger in size too).
For own stay, you might need to wait for a longer time before the price/ft2 go up further.
Other developments with similar RM/ft2:
For own stay, you might need to wait for a longer time before the price/ft2 go up further.
Other developments with similar RM/ft2:
No comments:
Post a Comment