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UOA project

Posted by investwannabe on 17-May 2011

Any information or comments regarding this project?

Answers (14)

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Posted by Ricky Leong on 17-May 2011

1,200 to 1,500 psf....

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Posted by Joe on 18-May 2011

What is the name of the project?

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Posted by investwannabe on 18-May 2011

It is situated opposite Somerset Seri Ceylon, and it is a hotel suites concept according to the development proposal. In this case, I think the units size will stay small. The name is either Ceylon Hill or One @ Bukit Ceylon.

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Posted by investwannabe on 22-May 2011

Price around RM 1,400 psf
Maintenance fee RM 0.70 psf
Build up from around 400 sf onwards

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Posted by Ricky Leong on 23-May 2011

OH...so high...Somerset Seri Ceylon only 800++ psf....better buy then...
JOE, how do you thnik?

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Posted by Joe on 23-May 2011

Hmmm, UOA and Mahsing very aggressive lately...

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Posted by investwannabe on 24-May 2011

And the price is really aggressive @_@

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Posted by investwannabe on 27-May 2011

If they are having GRR at 6% for 2-3 years, worth it?

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Posted by James K on 30-May 2011

Yes, definitely worth it if a reputable developer like UOA is daring to give 6% GRR for 3+2 years. It is like getting a tenancy the moment you signed on. My investors are already locked in for the early bird discounts.

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Posted by KC.Lim on 01-Jun 2011

Just checked with UOA SA:
Selling price is 1400psf
Preview date 4 Jun 2011
Discount 10% + 18% GRR for 3 years (each year 6% GRR)
ONLY for UOA member

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Posted by PLY on 01-Jun 2011

After 10+18% discount is around 1000psf, then it looks ok...only for members?? The maintenance a bit turning off...0.70psf for 1400sf = RM980 per month...after discount it should be around RM1.4 millions.

Based on 4.5% interest = RM5,000, plus the principal, monthly instalment is around RM6,500 based on 90% mortgage and 30 years repayment, total monthly fee to fork out is RM7,500...

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Posted by James K on 01-Jun 2011

Hi PLY,

The sizes range from 411sf to 769sf only.

For calculations, no need so complicated.

Assume RM600K for 453sf unit. Your loan at 90% is around RM2500 monthly for 30 years (panel loan is only about 4.2%). Maintenance is about RM300. You still have RM200 to take home monthly, not forgetting the good capital appreciation in this area. Trust me, the price will definitely go up if it is a good project. All new launches are above this price, and are not even guaranteed by such a reputable developer. 6% is a good yield if you compare to any property in KL. Plus free interest and SPA, etc during construction for this promo period.

Yes, it is to SELECTED UOA members only. But I have access to a few units left if you want. Unfortunately I can only hold until tomorrow only, so timing is quite rush, RM10K deposit for booking. After that it is for their private launch already so this week is the only chance to buy, plus the price will also revise.

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Posted by PLY on 01-Jun 2011

thanks James. I thought it is more than 1000sf. ya if it is only small unit 400-700sf i guess it makes sense...btw, i will leave this opportunity to someone else haha...

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Posted by investwannabe on 07-Jun 2011

I don't think there is extra cash flow to take home as have to pay maintenance, sinking fund, management fees etc..

Maybe can just hope for capital appreciation.

Secondary market is also an issue, coz bound by lease back terms.

Holding power is the key for this, imho.