As the year ended in 2018, the final buying was for the landed property in Sunway Iskandar.
It was a tough battle between a fukuoka apartment that cost $35k for a nett 6% return and a leveraged 85% landed property in neighbouring iskandar malaysia. Earlier I have written-off Iskandar Malaysia as an investment spot due to the large uncertainty and oversupply of high-rise in the development. Nearby, Prima Nusajaya faced some issues with developers not building and handing over the house in time, causing huge distress to the buyers.
Fast forward, Sunway has entered Iskandar with great concepts and completing Citrine Hub, the township seems to be on its way to becoming a hub for locals to come to shop. The hub is also accessible by causeway link to Singapore and Bukit Indah, making sure connectivity is not compromised, a sure recipe to success.
We stayed in Taman Sutera and the vibe was great with lots of young people, but the grab drivers that we hired hardly know about medini / iskandar, but they know Sunway.
This year I bought the Landed Superlink Terrace. A landed at last. This link house is the cheapest estate in medini. For the price of a 3 bedroom condo, you get a landed linked house that comes with Sunway Security. I think, this is a property which has limited downside.
This is for own stay, as well as it would appeal to students and family and faculty of Sunway International School.
Tuesday 18 September 2018
Tuesday 13 March 2018
A review of the properties that I'm eyeing
This post documents the review of the
Cashew Heights :
Investment
Living Layout etc
Transport / Amenities
Overall
Cashew Heights is a 500+ condo unit with all big sizes ranging from 1200 - 1600+ sqft. The estate is huge with sheltered carparks etc.
Investment quality :
Rental : Cashew heights is much sought after by expats and locals due to its unique offering of huge space and compound. Rental price is weak, less than 2% yield and the units are old to hold up the price. Competing with Dairy Farm and other alternatives in the region is a challenge. The opening of German European School nearby could improve the market.
Capital growth : Cashew heights was built in 1986 and as its a 999 leasehold, there was no issue of depreciated assets. Cashew MRT opened nearby and there are new developments in the school, a potential town centre at Dairy Farm / Petir Road. Things are looking good. The estate's plot ratio is 2.1 and is looking towards URA revising the plot ratio.
Living Layout :
Conversion quality :Some of the owners converted the split level living room to a office and the rooms and rent other areas out. The maid's room can be rented as a studio. The conversion quality to improve yield is not great. The giantic living / dining area are sufficient.
Living : With the abundance of windows, laying out furnishing is a challenge. The living layout sucks.
Transport and Amenities :
The location is 500m from Cashew MRT and a 1 stop to Bukit Panjang MRT. Transport is not great. Food and other amenities are ok. Schools around here are Bukit Panjang Pri, CHIJ. If you have a baby girl, there is no need to get this address for entry to CHIJ. For Bukit Panjang, its a gamble as its a popular school.
Overall :
Price is running too far from yield. Buy for own stay only if Rent < Interest and Maintenance. Use the money to invest in other higher growth / yielding assets.
Cashew Heights :
Investment
Living Layout etc
Transport / Amenities
Overall
Cashew Heights is a 500+ condo unit with all big sizes ranging from 1200 - 1600+ sqft. The estate is huge with sheltered carparks etc.
Investment quality :
Rental : Cashew heights is much sought after by expats and locals due to its unique offering of huge space and compound. Rental price is weak, less than 2% yield and the units are old to hold up the price. Competing with Dairy Farm and other alternatives in the region is a challenge. The opening of German European School nearby could improve the market.
Capital growth : Cashew heights was built in 1986 and as its a 999 leasehold, there was no issue of depreciated assets. Cashew MRT opened nearby and there are new developments in the school, a potential town centre at Dairy Farm / Petir Road. Things are looking good. The estate's plot ratio is 2.1 and is looking towards URA revising the plot ratio.
Living Layout :
Conversion quality :Some of the owners converted the split level living room to a office and the rooms and rent other areas out. The maid's room can be rented as a studio. The conversion quality to improve yield is not great. The giantic living / dining area are sufficient.
Living : With the abundance of windows, laying out furnishing is a challenge. The living layout sucks.
Transport and Amenities :
The location is 500m from Cashew MRT and a 1 stop to Bukit Panjang MRT. Transport is not great. Food and other amenities are ok. Schools around here are Bukit Panjang Pri, CHIJ. If you have a baby girl, there is no need to get this address for entry to CHIJ. For Bukit Panjang, its a gamble as its a popular school.
Overall :
Price is running too far from yield. Buy for own stay only if Rent < Interest and Maintenance. Use the money to invest in other higher growth / yielding assets.
Wednesday 14 February 2018
2018 - Financial position
The year 2017 ended with no property purchase again due to lack of funds and lack of good buys. I started investing in a few startups ran by good friends from KL. I have absolutely no idea what is going on with the company except that the guys running it are good businessman. I invested in the CEO and not the business.
The year 2018 started well. I decided to move to a Condo and urge E to move in as well. Renting out my HDB immediately upon moving out save me some headache, albeit to a family of bengalis. I decided to do so as the estate is upgrading toilets and its a huge mess. I better stay out during this period. I rented the place out for 1.6k
I rented a Condo at Cashew Heights for 2.3k per month. A good deal maybe... after moving in most of the stuffs, the place is kinda difficult to fit. The layout is weird and not meant to be designed for modern TV centric usage, otherwise, the space is quite good. Bought some high-end fridge and TV for the missus. I urge her to rent out her place as well. Fully furnished, should fetch her good 2k per month.
All in, 1.6 + 2 = 3.6k and deducting the rental of 2.3k, nett - 1.3k, gives us a comfortable cashflow to stay at the condo with full facilities and childcare, utilities and food.
The next purchase gotta wait... at least 2 years while mustering enough bullets to bite at the Singapore market for the "required" own place. Haiz... whats wrong with renting when the landlord gives you all the freedom to make changes / renovations. I just felt heartpain paying for the upgrades.
The year 2018 started well. I decided to move to a Condo and urge E to move in as well. Renting out my HDB immediately upon moving out save me some headache, albeit to a family of bengalis. I decided to do so as the estate is upgrading toilets and its a huge mess. I better stay out during this period. I rented the place out for 1.6k
I rented a Condo at Cashew Heights for 2.3k per month. A good deal maybe... after moving in most of the stuffs, the place is kinda difficult to fit. The layout is weird and not meant to be designed for modern TV centric usage, otherwise, the space is quite good. Bought some high-end fridge and TV for the missus. I urge her to rent out her place as well. Fully furnished, should fetch her good 2k per month.
All in, 1.6 + 2 = 3.6k and deducting the rental of 2.3k, nett - 1.3k, gives us a comfortable cashflow to stay at the condo with full facilities and childcare, utilities and food.
The next purchase gotta wait... at least 2 years while mustering enough bullets to bite at the Singapore market for the "required" own place. Haiz... whats wrong with renting when the landlord gives you all the freedom to make changes / renovations. I just felt heartpain paying for the upgrades.
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