[ Urban Suites 21/5/2017]
[Property agent's Perspective]
This is a new project in Jelutong area near to the Lim Chong Eu highway. It is commercial-titled and also free hold building that is estimated to complete ~ 2021year.
A prime location near to Karpal Singh Drive and the future-LRT-station is within walking distance.
Over 40+ six star facilities like futsal court, cinema and gym.
Low registration fee of RM3,000 only and 10% rebate to the unit price according to building stages.
As for GST (since it is commercial titled), developer will fully absorb the GST if you bought a unit of 753 or 836 sqft. If you opt for the 630sqft unit, developer will still absorb 3% of the GST for you , which mean u will need to pay the other 3%.
High return of investment in a shorter timespan compared to other projects!
Definitely worth if you are a investor for homestay/airbnb business!
[Investor's Perspective]
The developer [Aspen Vintage] introduced a new concept for investors/buyers for this project with the theme of "luxurious hotel" , there will be a lobby on the ground floor and it is able to help owners to manage their house for Airbnb purposes (including cleaning, micro-managing the tenants and stuff , with some charging fee of course. But you can still choose to do it yourself. )
Future LRT station is within walking distance , great news for tourist looking for homestay location.
Not to mention the Jelutong wet market nearby that would be a heaven for the tourists (homestay people like to cook their own foods)
Just calculate the ROI (Return of investment) roughly in simple way from doing AirBnb
1) Assuming your purchase price is 400k and got a 85% loan which makes your loan amount to be 340k , according to the installment amount of interest rate of 4.6% divided to 30years installment, it would requires you to pay a monthly installment of ~RM1700
2) Assuming rental is RM200 per night with 10days rented out of a month = RM 2000 / month
Tadaaa , positive cash flow!
10days out of a month is not a hard thing for city of tourist isn't it? *Lets be positive here
Did I calculate in the potential capital gain from the increase in housing price over the years?
The high-rise building in Karpal Singh Drive was sold for 3xxK at first , now its priced around 7xxK!
More attraction points!
- 10% rebate for the total unit price ( which saves you ~40k if you opt for a 400k unit!)
- 6% GST absorbed by the developer = another saving of ~12k
- Free legal fee on loans,stamp duty and SPA signing except MoT = another saving of ~ 5k
- Legal for airbnb/homestay business , which means no saman! Weeeee!
Some non-attraction points *I have to be fair on both perspective shouldn't I?
-The carpark are not included in the price. Extra RM39888 for one carpark and RM59888 for two. You can choose to not buy any. (if you're on homestay business, tourists would love to use uber and
- It is commercial titled so its slightly more pricey on the water/electricity bills
Last but not least, do leave your comment or send me your details ( name, phone number) if you are interested to get to know more about it! I am both a real estate agent and investor as well *winks
If you want to be anonymous, just use the google form here !
Kindly remind me if there are any mistakes or copyright infringement. Thank you.
*Photos obtained from Urban Suites Brochures.
W.
