Vista Damai

Posted by Jeff on 15-Apr 2010

Is anyone can give me advise on Vista Damai?
good for investment purpose?

Answers (22)

Posted by Joe on 17-Apr 2010

Yes, very strong demand from rental. What is your offered price?

Posted by Jeff on 18-Apr 2010

thanks joe, what is the current market selling price?
by the way, what do u think of vista Kiara in MK?

Posted by Joe on 18-Apr 2010

Prices vary, but should go from RM400 psf onwards. Vista Kiara? Seems like you like run down properties. I'd would go buy the most run down one at the cheapest price and refurbish for higher rental. In general, Vista Kiara price is stagnant, but if you can find bargains, go for it, coz you will get good cash flow.

Posted by Jeff on 19-Apr 2010

thank You Joe, I really appreciate your advise.

Posted by Homeinvest on 10-Mar 2011

Fast forward to Mar 11, is VD a good buy with good rental yield. at $500 to <$550 psf range, it could be higher if owners retrofit and make the place more posh but likely many owners don't look at the investment enhancement hence like most older properties, price stagnant as the building age. The developer whom owns many units for rental should really give the leadership and give it a makeover then prices can go up. myhabit prices are a mile apart yet this VD has better views esp the behind units facing titiwangsa range.

My unit which is 897 sf can at best fetch less than RM500k. not attractive when KLCC fringe condos could sell for more.

any commnents

Yours truly
an owner

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Posted by Ricky Leong on 11-Mar 2011

you want to sell it? I got buyer can go for 535k?

Posted by Homeinvest on 11-Mar 2011

Ricky, noted you are very much knowledgeable. However your competitor has advertised a unit for 1000sf at RM545 which give value then to my unit for RM470k which i do not find attractive. As an astute investor we know value will be increase when next door offices and shopping complexes are completed.

My belief is VD is in a good location and good frontage (though noise from traffic is an irritant unless you double glazed) but back view high floor is super as you can see Genting Highland on a clear nite and day and the titiwangsa range glitters when there is a golden sunset. Cannot get these view from myhabitat but they are double in price and classy in quality.

If only KLS and owners agree for increase maintenance fees to give it an upmarket look i believe 1 room studio or 1 plus is appealing to expatriates which currently is less favoured from the funny countries whom do not pay their electric bills when they leave.

Keep us owners informed and we have your no but at $525k or RM600 psf I am not sure if there have been such benchmark esp market may be slowing in view of another global crisis brewing re middle east and north africa. we are sharp investors.

Posted by Joe on 12-Mar 2011

As surrounding properties go up in value, any management in their sane mind would try to refurbish the condo, at least the facade. See Sri Putramas 1 has got some nice new paint recently, i bet the prices went up a few notches after these management action.

So, ultimately it is still Location, Location, Location!

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Posted by Ricky Leong on 12-Mar 2011

Vista damai already start refurbish the condo...

Posted by Joe on 13-Mar 2011

This will make existing owners very happy :)

I wonder how much owners have to fork out for this refurbishment?

Posted by Homeinvest on 05-Apr 2011

i saw the advert for sale the show place downstairs advertised by Suet Leong inviting potential buyers and renters including F&B and bank.

As an owner i would feel strongly against a F&B beverage with drunks and unsavoury characters (including free agents/street walkers whom hang out in such places to catch big spenders.

A Bank ? you gotta to be joking as there is not enough parking places and besides bank robbers might one day fire some bullets whom go astray and hit the owners/tenants.

Seriously, Ms Leong, you have to use your head a bit to want to lure such business as we owners and tenants will be up in arms.

Its crazy to have retail right below where you live unless you are the pudu plaza type of owner tenants or investors.

There are enough other outlets for such... come on, suet leong, don t you have any commercial sense ??!!!

Posted by Fighter on 09-May 2011

I have a 1 room studio unit and the rental demand is always satisfy. With the recent development of Intermark, MRT and upcoming Trillion. I am very confident on VD prospect, however, i have a concern that once Trillion start its contruction, it may affect my rental market as my unit is facing back. Can anyone share their opinion?

Posted by Joe on 12-May 2011

Yes if Trillion constructions start, you better be prepare to hold it out ... or rent it out to ignorant tenants for 2 years now before they realize that.

Posted by Homeinvest on 13-May 2011

HI Fighter. I think there is good potential for rental for VD because the nearby service apartments like My-habitat and Trillion (when completed) are not real competitors because of their higher costs, the rental sought will be far higher (which is okay as they are likely to be more posh with more modern facilities). In my recent visitations the lifts also seem to be out and this will deter existing tenants and potential tenants.

Given the location to KLCC and next door to Double Tree (when open with eateries, Ampang Mall, junior expats will be more attracted to VD.

If you are an owner like me, i suggest we voice out to spend more capex to improve the ambience to match with up and coming nearby developments.

Trillion is sellling at +RM800 psf and VD is far lower and can compete on rent esp from the non western expats. So far there seems to be lots of central asia, middle eastern and chinese expats and they are the ones whom can afford lower rentals. For some reason, western expats are not found here likely they have bigger budgets and don't mind travel from Mt Kiara.

Yes, i will hang on but suggest management body to improve their services further. Tell me, agents, where else in the golden triangle can you rent a 1+1 for $2 to 2.5k ? Orion is too far and wrong end of town and cumbersome with U turns and traffic jams

This is from an owners/investor perspective.

Posted by Homeinvest on 13-May 2011

HI agents

How long does it take to rent out a 1+1 900 sqft Vista Damai these days for RM2.5k. Need an honest answer and i am choosy about tenants not being from funny terrorist linked countries or fly by night tenants whom are up to illegal activities.

Best honest answer might get a call from me.