One Imperial
One Imperial, strategically located within the establish township of Sungai Ara, Penang. Comprises five blocks of condominium with a total of 768 units. Cheapest unit has an indicative price of slightly below RM400,000 with the size of 1,050 sq. ft.
Location : Sungai Ara, Penang
Property Type : Condominium
Land Tenure : Freehold
Total Units: 768
Built-up Area: 1,050 sq. ft. onwards
Developer : Modular Platinum Sdn. Bhd. (Ideal Property)
Contact No.: +604-645 6888
Indicative Price : RM380 psf. onwards
Contributed by reader (06-Jan-2016)
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@Alvin
Then, tower C unit 8 will suite you the most. 1180sf n nice no. Starting from lowest $380psf. Yes, more expensive doesn’t mean better unit, agreed but its because we don’t choose on time. Better budget definitely get better options, always.
@Clock
Like! Like! Full support!
@Clock
@Pen
Haha！Thanks for your Ideal recommendation!
Who started to mention the “nice number” as a factor?
@newer
i personally think should buy either MRTA or MLTA. heard from AM bank staff saying developer will absorb interest if premium less than 5000 if MRTA incorporated in loan.
I think better use the money to get an additional personal life insurance.
Don use ambank. Slow process. Later want to sell also have to wait due to poor process.
renovation loan only can use 1 yr from VP? what if i dont wanna renovate yet but in the future?
@BornInPg
Will be terminated automatically after 1 yr from VP.
Any one know the lobby will have card acess? Any further news update from developer? Now I already getting by letter of offer. Just wait for developer call to sign snp
I also got two banks offer blr-2.4 only. Maybank n ocbc. Anyone got better offer?
interested to get the renovation loans man.. thats a good bargain! i heard its compulsory to buy MRTA or MLTA? or not?
@Khc
Hi, can you share what did Maybank offer?
@gmee
Not compulsory to buy MRTA/MLTA for Hong Leong & OCBC bank
Hi, maybank loan approved as follows : –
90% RM439,380 + RM1,990 (mrta insurance) = RM441,370 for 30 yrs with monthly instalment of RM1,986 per month at interest rate of BLR minus 2.40%.
keng maybank@Alvin
Tower C, level 18, unit 05 is available!
Sounds like a good unit @Alvin
@Khc
the MRTA 30yrs only for RM1990?
I went to Sg Ara to view OI area. Is it behind Idaman Lavender 2 and in front of Idaman Iris? Notice a lot of tunas muda project there… Haven start any construstion right? Still see a big area of jungle forest..
just book an unit..going through loan application next.wish me good luck
same question. such cheap?
@button
Tower?
Suppose to be behind of Malay School Relau.
You can walk through the proposed road (under construction) at Jalan Paya Terubong to have a better view that where the OI location will be!
I also not sure. I gotta ask him again. I din ask details because i was thinking of getting mlta which is a life insurance actually. I ll update u guys
Tower A 5th floor…@Alvin
Tower A 5th floor….
@Alvin
Tower A Level 5
tower A level 5
sorry line sucks..
Lol
@Alvin
How many sf?
@button
What is the price?
@JL
1180sf
Hi All,
Any one can provide OCBC Agent contact??
I need apply for the house loan.
THanks
Anyone visit sales office lately? May I know how is the progress? Alot of cancellation or unit available for those can’t get loan approval?
Soo +60 12 553 1266 ocbc outsource agent
Hi neighbors,
Do we have gate/door access card on each condo Towers? Please advice.
–Thank you
Hi,
Anyone got the loan offer letter with BLR -2.45%? If yes, which bank?
Checking….
HI,
Anyone get BLR -2.45%? Or anyone get lock in period waive from OCBC bank?
@Khc RM1,990 should be RM200k for 5 years my guesstimate
OI free 2 car park, 4 aircon for Tower A & B as per advertisement in the Star today , purchasers of C, D & E should fight for equal right to get the additional car park reduced to RM15k (instead of current exorbitant price of RM25K )
Wtach up of poor workmanship–base on observation
Am bank offering blr-2.45 with mrta 10 years rm2700
Thanks admin for updating the actual layout of OI especially the type 1300sf & those units for Tower A & Tower B.
You have got the offer letter for such good rate?
1 carpark for rm25k is really expensive…
@Khc
really? got contact number?
Any one received letter from OI regarding the new sales package?
This OI developer is a real jerk!Initially the buyers of Block A were told the deal came with only one car-park.The,were offered the 2nd c/park with discount of 10k.Now,finally,the deal came with free 2 c/parks.It definitely does not sound alright business wise and this flip-flopping of decision would only irritate those who have bought/booked theother blocks in the initial launching.I do not understand this sudden and frequent change in the offerings.Can we still trust this developer?Any new offer again,may crop up in near future?Get ready not to be stunned by the new tricks of the developer!!
@onered86
I received the letter..
@onered86
@Anson Lim
What’s the new sales package?
Rm460000@venus
Tower a cheaper than mine tower e sixth floor with 2 car parks. Mine is 488800. How could it be?
Rm2700 is reducing started the first year so it’s cheaper. Another one >4000 is 10+3, start reducing after the fourth year. Khor – ambank +60 16 421 6955
Mine is also 1180
c,d,e buyers get the same packages as a and b buyers?
Again, another new sales package? Who has the detail?
Is there anything new?
How come the new sales package?
Everything remains.
Still left many units for Tower A & B.
@Alvin
Tower C,D&E fully sold out?
Is ur unit come with a carpark? How much they quote for a unit in block a by per sq?
How about block b?
How is it possible for us early bird to pay higher price?
register Prima1 housing lah…
@onered86
ya i received my mail regarding the sales package too.
@samteec
fully agree with you. this is so unfair!
Lets boycott Ideal and OI by cancelling the booking en bloc to give Ideal a lesson for coming up with unfair practice. Anyway with 20,000 units Prima 1 housing coupled 1000 units Affordable housing project in SP Chelliah , the housing price in Penang will not rise very much in terms of pricing in next3 years .
Did anyone check the price before and after this new package?
like tower A, purchase with 15k 2nd car park, price X
then this new package with free 2 car parks, price Y
How much different between them?
Anyone can give me the answer?
Anyone knows what is the rough monthly installment for loan amount Rm430k for 38 years ? Like this condo but afraid unable to pay for it…
The loan calculator at this page (your right hand side) might help.
This only happen at tower A and under both package, the selling price is about the same.
Before: ~420psf + 15K
After: ~430+psf
How to qualify for a Prima1?
Can i help to share the contact number fro Ambank that provided -2.45%? THanks.
please do so , btw pr1ma designs for Penang http://www.pr1ma.my/developments.html looks quite nice and definitely value for money .
@Bryan
Thx for the info
The price for Tower A is higher with the new package?
Are we able to 100% refunds back the booking fee if we do the cancelation?@Steven
@button
Urs is 1050 sf right?
Ask forumer instead of Ideal, are you sure you bought OI?
@Jack Loke
I think urs is 1180 while @button is 1050.. M I right?
@newer
+60 16 421 6955 Khor
+60 16 421 6955 Nicole
U can try.
Anyone got -2.45 in other bank? Thanks
@Khc
@khc, may i know did you get 2.45 because you loan less than 90%?
@Khc
I think urs is 1180 while button is 1050..
@Freshie
I have no idea why. Maybe because of mrta? I hav other fren also got this -2.45. But I hav no clear details about the mrta yet. I hav not gone through the agreement n details
Did you get the offer letter from bank?
I guess I am not qualify for 2.45. Dono what are the criteria
The bank fella said ready adi. Just need me to sign. I m in no hurry to sign yet. Criteria? I don hav anything special compared to others. Also applying for 90%.
@Bryan
I thought new package (free 2 car parks) just offer to A & B tower?
By the way, I don’t understand why there is huge scream on the free and pay car parks.
You have to understand A & B pay more than CDE.
I am getting an unit at B block, floor 10th with RM543k. (equal RM 452.5 per sft).
The so call “free car park” already count in our unit price, and it’s even more expensive than you do…
I thought new package (free 2 car parks) just offer to A & B tower?
By the way, I don’t understand why there is huge scream on the free and pay car parks.
You have to understand A & B pay more than CDE.
I am getting an unit at B block, floor 10th with RM543k. (equal RM 452.5 per sft).
The so call “free car park” already count in our unit price, and it’s even more expensive than you do…
And for sharing, I been approach by two banks : Affin & Maybank
Their offers are:
Affin
1. Interest rate: BLR -2.4
2. Locked in period: 3 years commence first release (basically end together with VP)
3. Tenure: Max 45 years (count till 75 years old).
Maybank
1. Interest rate: BLR -2.4
2. Locked in period:
4 years commence first release (conventional scheme)
No locked in period (islamic scheme)
3. Tenure: Max 40 years (count till 75 years old).
4. Full flexible loan : according Maybank guys says its auto save interest when you pay extra(without call or any instruction given)
Anyone else get better offer?
@Jr.Buyer
PBB also offer BLR-2.4%. Generally are having same rates from all the panel bank. However, there might had some cases got BLR-2.45%
@Jr.Buyer
Pls check again with Maybank. They told me the same thing “full flexible loan”. when the loan started, each time i need to inform maybank office and fill up the form if i need to clear my principle/ pay extra.
@Never
Well he told me, it is not needed to further inform.
Auto deduction is their strength on this full flexible as according him.
Example: your monthly installment RM1240 per month.
But we paid RM 1300 per month instead.
The extra RM60 that we paid will be auto takes into principal reduction which further reduce our interest.
Affin need MRTA.
Only tower A have 15K for 2nd cp.
If you want to count the RM psf in this way, all the 768unit in OI are having different RM psf. And the way you count made my tower C unit RM417 psf, and my fren tower B unit (15K for 2nd cp) RM470 psf. Need to exclude the charges for RM1.5K for every level up and pool view premium for apple apple comparison.
You buy tower B now, you are at the gaining side. It is normal for you not to scream. During tower CDE buyers took up a unit, they were informed that tower AB will be selling at 420~450psf, but din mentioned it come with 2 cp. This made the buyer feel they bought a much cheaper unit and trade it with a poorer tower location, and some with the view. Now they realized the trade off is not that worth it, and it is normal to have voice here.
If you satisfy with what you get now, that is fine but don’t stop other if they want to voice up.
Still think OCBC better. Details refer to my old thread.
Well, I just find no clue why this being a issue over here:
Block A & B still many lots available, I believe any CDE holder not satisfy can just tell developer that they wish to drop their CDE units and change to A B for better view and enjoy the free car park. Of course you need to pay the same price as we do.
I not sure how the computation, but my instinct tells A B is expensive than C D E for extra RM20-30 per sft (which can be RM 24- 36k).
So extra 1 car park with cost RM25k, counted in the unit price, is equal almost same.
A B don’t have choice but must have 2 car park compare the flexible of C D E to choose.
Don forget RM25k car park is count in A B units price, and A still gets option for RM 15k for 2nd car park (cheaper).
Of course like Bryan said, the view may slightly better, but if pool view unit, shd be same for all ABCDE.
I guess little advantage is it nearer to main gate, which give short distance that you mentioned earlier.
@Jr.Buyer Don’t you know Tower A buyer get 2nd car park free now ? I suggest all the CDE buyers form a group (at least 100 names with unit no. ) to approach Ideal to get at least 10k discount for 2nd car park , failing that all the them will withdraw the units to show the impact, no point approaching the developer individually. I start the ball rolling.
Can’t wait to see another 100 units open for booking soon.
@Steven
Ya, A & B get 2nd car park free with more expensive price on the units.
A & B is more expensive than C D E.
C D E don’t get the free car park because they get their unit cheaper.
So it’s the same.
Go compare the price per sft multiply with minimum space 1000 sft, then u know ABCDE is actually paying more or less same price. (In fact CDE still cheaper in fact).
If C D E can get more discount on car park, better make A & B same price with C D E.
Else the unfair just will be forever endless.
@Buyer101
another 100 units open?
I thoughlt only left few landed units at A B not yet open, others all already launch?
@Jr.Buyer
Agreed.
It just the matter of greedy rather unfair here.
CDE already get the cheaper price still wish to get more cheaper with requesting free car park to them as well…
AB didn’t even complain that they pay so much higher for free car parks and air-conds, and suddenly these free aircond and discount given to CDE.
If want to be fair for all, AB get the same price likes CDE, and CDE get the free car park as well.
Else no point to argue, because now to change just for one side is creating more even unfair.
Simple concept – u get more free gift because u pay more
U pay at discount price (cheaper), don’t dream much on free gift anymore.
You still have chance to choose:
1. Pay more get more gift – choose A & B block
2. Pay less get less gift – choose C D E
Check with IDEAL few times, they are not going to change their current sales package, estimatey sign S&P
will be early of JAN2013. Because OI spec has not yet been finalized. Not sure IDEAL will make data point (future fiber optic access point) ready in OI?
Complicated concepts by a complicated architect will put your life in
complications in the future.
Anyone got info regarding the huge empty land that next to OI ? Probably it will be another high rise condo. For investment purpose,how do you think about this area that will be occupied with so many units of houses in future 3-5 years?
For C,D & E, what i see is no free carpark doesn’t matter and have to paid more on stupid 2nd carpark. No early bird discount. Left only those cacat unit for you to choose. Those good and nice units were selected and booked by staff and contractor. At the end, no significant difference if wait for A & B open.
@SP
I thought 2nd car park is optional to C, D & E?
You can buy at discount price or just don’t buy it.
And for car park place, I know A & B not yet pick their car park yet, so I believe still many nice place.
Also the car park place is not based on choose, is based on draw. So should be fair to all.
@Jr.Buyer
For guys afford to buy AB, sure will have same view as you. Things can be solved by money never be a problem, right? Then you really need to understand why ppl bought CDE.
If ABCED selling at the same price and open at the same time, which tower will you choose? Will you choose C? Guys choose C are trading off the location by the price different. And now the price different is less than what they traded off, and it’s come after the booking, it’s a problem.
Let’s say now Ideal suddenly change the main gate to tower C, is it still alright for you? speak from your heart.
Another things. Like what you said, the free 2nd cp is counted in the price, then what is the point Ideal offer this package? Why don’t they cut the price by 15K (tower A) and 25K (tower B) and give the new buyer optional 2nd cp? Do you think they have too many cp cannot sell? I think the true is, Ideal thought with this, they able to make CDE buyers feel that their property is already appreciated so that hold the units and sign SPA, thus, miss the boat on Pinnacle and GV or others. I am sure now they aware that they are making a mistake.
Yes. Offering different package for different tower is already a mistake right at the very first day.
There should be Imperial Two Q3 2013, but not sure about the actual location.
Right! Early birds of CDE don’t get any advantage. If I got enough budget, I will go for tower B.
What is the advantages of tower B compare to A?@Bryan
how to buy ?? please PM me..thanks…
If you choose pool view, A better. But if I remember correctly, B is having lower density and 1300sf units. The 1300sf units are having both a good pool view and external view, and also avoid both morning and afternoon sun.
B will be neighboring to most likely schools, and A, could be another high rise project.
No such thing as free lunch. Discount maybe…early bird price..maybe…
Booked earlier maybe cheaper…book now free carpark…price maybe build in already
Dev sure compute costing inside. Formula i dont know.
Bising dev..can…dont want to buy can….the choice is urs..
3-5 years later just make sure dont ‘amkan’
Oasis starting 240k…buah pala issue make ppl scare…lucky no buy…after buah pala give free house
All happy…price 350k…now 550k…can sell or not i not asking…so u scared dev or dev scared u?
@Buyer101
What is the 100 units?
I got 2 quite similar offer from 2 banks. Here is the offer:
1. MB
Tenure – 40yrs
Loan margin – 90%
Lock in – No
BLR – -2.4%
2. OCBC
Tenure – 38yrs
Loan margin – 90%
Lock in – No
BLR – -2.4%
Additional offer With 30% renovation loan (optional – can be cancel automatically after 1 yr if no withdrawal)
Need your advice here which bank should I take? Thx a lot from your valuable input.
Me and my brother buying Tower E & C for investment and both us going for Maybank due to experience faced before.
Me and my brother bought house each 2years back. He is taking Ambank because his salary goes to Ambank while i taking Maybank due to salary account
What i found the different is Maybank really gives flexibility and really convenient. I always do my housing loan payment via online transfer, sometimes with extra payment too as well as my brother he also did the same.
What he found out that, his extra payment made via online do not goes to principal amount deduction and not reducting his interest at all but mine extra payment deducting my interest accordingly. He went to Ambank and met the officer, then he was told that in Ambank every extra payment need to do in front of bank counter only will reduce the interest.
He is very frustrating and waiting for his lock in period and to refinance to Maybank
Going to cancel booking on 1200sf tower C high floor. Anyone interested, please drop me a mail.
mplcycmy@gmail.com
100%DBIS
2 cap park
4 aircon
@Yeoh
Did you ever read the offer letter which clearly stated “booking name not transferable”?
@ezalor
We can go to ideal office together, I cancel and you book my unit with ideal at the same time. Otherwise, you need to wait in the waiting list.
Until today i havent received the offer letter, did Ideal call up to sign SnP?
@Yeoh
How much is your unit cost?
looking forward to buying penang pr1ma houses … 20,000 units coming
best of all is the reasonable price
~500K
Yeoh, what is the unit#? Type A or A1?
@can
Drop me an email for more details. Thx! (Or you can leave your email here)
mplcycmy@gmail.com
loan approved ocbc tenure 38 years blr 2.4% which is standard .any bank offering better package?lets share
Hi Bryan, very interesting discussion. What is your opinion about MRTA? No need MRTA, partial coverage, or full coverage?
@Bryan
please send me more detail. Thanks… quartzcan@gmail.com
@KARISMA
Many ppl said MLTA better as it follow person instead of the property. But for me, normally I will settle the property loan much much earlier than the loan term, so, not worth to get MRTA/ MLTA. I owned 3 house/ condo before and every time I sell within 5 years time, because of upgrading. So, never think of MRTA. If really need, use the money to buy more insurance, imho.
i am a noob in buying house. i wish to ask do we need to sign loan agreement so early, when we don’t know when to sign snp?
Great Day All,
I got one unit to let go. Because thinking to buy shop/house in other states.
Unit description:
0) FREE HOLD, face north, Solid Flat Agricultural Land, not reclaimed land.
1) Tower B. No-doubt-at-all, best tower. Least unit/floor (only 7 unit compare to rest blocks 8 units -> dense, more noisy, share common utility e.g. lift etc.). Nearest to main-entrance (else visitors/baby/old citizen very hard to walk for >5 minutes). E.g. very-far tower D & E. Tower A also near, but next to dustbin dump area & 8 unit. Expat most likely choose Tower B (or at least A)
2) Unit 02. This is the bungalow style unit. If you see the plan thoroughly, Block-B unit 02 is not-connected to other units at all. Just connected to corridor so that owner may enter from main door.
This is the quietest unit (privacy like bungalow style).
3) Free TWO car-parks. Free 4 aircond (incl. 1.5HP in living room). 100% DIBS, Free legal fees , stamp duty for SPA & Loan Agreeemnt. Almost zero entry cost to buy.
4) Study room can easily make to maid room (to make it 4 rooms, to have higher re-sale value). 4-rooms is more than enough for medium family with maid.
5) Away from stairs/lift/water tank/pump room, refuse room, dumping room, TNB, wafer main pipe (you may see clearly from block layout).
6) 1050 sf (best for family and investing, ease to re-sell).
7) 1 Imperial has far better location than rest of condos. 2-min from Sg. Ara main junction. Compare to Setia-Pinnacle, deep inside a kampung/beside a hill….
8) Near to Bayan Lepas Free Trade Zone (with many expatriate from MNC like Intel, Braun, Motorola, Altera etc. Good rental demand.
9) Near to Queensbay (10-min if no jam). Biggest in Penang and most affordable with Jusco, GSC, Absolute Fitness etc. Near to airport (15 min). Near to 2nd bridge (20 min). Transportation connection is perfect.
10) Near to multiple International School e.g. Fairview (needed by expat), International Colleage e.g. Inti, multiple chinese/national secondary/primary (needed by majority). Upcoming international school just 2-min walk from 1 Imperial.
11) Near to PISA/SPICE, D’Piazza Mall. Sunshine Square, Giant Bayan Baru.
12) Near to Hotel Equatorial (5 star), Eastin Hotel (4 star) etc.
13) Reputable developer (Chinese). Many successful projects.
If got more $, surely will not let go.
Kindly let me know if interested. Do email me, address below (reply normally is within 1-2 days).
Take care.
lee989898@gmail.com
@lee989898
wah! a long story to promote OI.
@lee989898
Impressive.. but a little bit too hard selling. You should also talk about future development in Bayan Baru, The Light, Southbay and Bayan Mutiara as well to sweeten your product value. OI is quite close to these up-coming townships.
@Bryan
Thank you Bryan for sharing your experiences.
In year 2015, many condominimum build up here,high competitive.Better think deeply before buy this project.as i know many buyer went to cancel.no worth to buy it and not allow some people fry here.
@no
Frankly, I don’t know what were you trying to say here. I hope your English can be improved by year 2015 too. Cheers!
u not understand are not important..u dont be nosy.
@no
haha.. @no may need to correct his grammar mistake. But I think most of us understand what he trying to tell.
When you see “2015” stories, you know who that guy is.. 😀
Anyone know the difference between islamic loan and conventional?
@no
Hahaha, I will stop being “nosy” here. Only when u can make me “understand” u. Shxt, the world is not ended yet, I still have to pay for all of my bills here.
Any idea when the S&P will be signed?
Until most of the buyer got the loan, and more sales on Tower B (Probably Tower A as well). Ideal won’t take the rick to sign the SPA until they get sufficient confirmed sales.
SnP available to sign once you are able to confirmed your bank loan. Ideal folks did call me to inform on this. So yes, you can start signing SnP
Anyone plan to let go Tower B, 1300sf, pls kindly let me know. Serious buyer. Thanks.
can sign snp d? i just signed bank loan offer letter last week. Ideal has come out the OI spec?
They are now focus on Tree Residency bumi lots release, as every unit sold, they can collect 60~70% of selling price. With this, my estimation is that, the SPA for OI should be after CNY.
And, event after you sign, Ideal will still wait until the majority buyers signed then only submit for stamping. So, any benefit to sign earlier than the rest? Keep the 10% in bank first at the moment is a better choice, I think.
I thought Tower B still have plenty of 1300sf units, as what I saw last Monday?
I saw the sales chart of OI today, less than 10 units left. C,D,E fully booked. A,B left mainly the lower level units.
That’s a good sign, OI units are almost sold out
Overall 5 towers left less than 10 units? Almost sold out?
What is the interest rate for loan that u all got? I got mostly BLR -2.4, only AM BANK -2.45. But as someone pointed out earlier that even the banker admitted that Am bank have the problem of unable to reduce the capital interest rate if u pay extra via online banking, only able to reduce if u pay in bank.
@Khc
I have verified with Ambank 2 days ago. It is not true. Now all the packages are daily basis, which the extra payment will goes to the principle. The person who shared that news probably the case few years ago.
But I still think OCBC still the best among all.
@Bryan
I am not sure how true was my previous statement, but i had spoken last week to their own banker who had told me that problem. They said they had already reflected to their own head quarters, but so far not rectified yet. Bryan, i hope u r right. I also prefer ocbc, but they only offering BLR-2.4. What they offer you?
@Khc
If so, just go to OCBC to be save. 0.05% different is about RM20 different per month at the beginning, and be less and less thereafter, for a ~500K loan.
Among Maybank, Hong Leong, & Affinbank (worst service), I still prefer OCBC & just signed it up. None of them offer BLR -2.45
How about Maybank offer? max is 45years ?
How about Maybank offer? till 75years old?
Great Day All,
I got one unit to let go. Because thinking to buy shop/house in other states.
Unit description:
0) FREE HOLD, face north, Solid Flat Agricultural Land, not reclaimed land.
1) Tower B. No-doubt-at-all, best tower. Least unit/floor (only 7 unit compare to rest blocks 8 units -> dense, more noisy, share common utility e.g. lift etc.). Nearest to main-entrance (else visitors/baby/old citizen very hard to walk for >5 minutes). E.g. very-far tower D & E. Tower A also near, but next to dustbin dump area & 8 unit. Expat most likely choose Tower B (or at least A)
2) Unit 02. This is the bungalow style unit. If you see the plan thoroughly, Block-B unit 02 is not-connected to other units at all. Just connected to corridor so that owner may enter from main door.
This is the quietest unit (privacy like bungalow style).
3) Free TWO car-parks. Free 4 aircond (incl. 1.5HP in living room). 100% DIBS, Free legal fees , stamp duty for SPA & Loan Agreeemnt. Almost zero entry cost to buy.
4) Study room can easily make to maid room (to make it 4 rooms, to have higher re-sale value). 4-rooms is more than enough for medium family with maid.
5) Away from stairs/lift/water tank/pump room, refuse room, dumping room, TNB, wafer main pipe (you may see clearly from block layout).
6) 1050 sf (best for family and investing, ease to re-sell).
7) 1 Imperial has far better location than rest of condos. 2-min from Sg. Ara main junction. Compare to Setia-Pinnacle, deep inside a kampung/beside a hill….
8) Near to Bayan Lepas Free Trade Zone (with many expatriate from MNC like Intel, Braun, Motorola, Altera etc. Good rental demand.
9) Near to Queensbay (10-min if no jam). Biggest in Penang and most affordable with Jusco, GSC, Absolute Fitness etc. Near to airport (15 min). Near to 2nd bridge (20 min). Transportation connection is perfect.
10) Near to multiple International School e.g. Fairview (needed by expat), International Colleage e.g. Inti, multiple chinese/national secondary/primary (needed by majority). Upcoming international school just 2-min walk from 1 Imperial.
11) Near to PISA/SPICE, D’Piazza Mall. Sunshine Square, Giant Bayan Baru.
12) Near to Hotel Equatorial (5 star), Eastin Hotel (4 star) etc.
13) Reputable developer (Chinese). Many successful projects.
If got more $, surely will not let go.
Kindly let me know if interested. Do email me, address below (reply normally is within 1-2 days).
Take care.
lee989898@gmail.com
Which type of bank loan is better- islamic or conventional? Any inputs?
Can any one provide MayBank Agent contact number?
Is MRTA is a must? I notice 20 years almost 8k..
Try call 012-5349 452
I am taking MRTA 20 years – it almost 12k…
MRTA is optional – but developer do absorb interest for MRTA (limited to 5k principal) during construction period till VP.
I would prefer Islamic – as there is no locked in period, free to resell anytime i like.
The only bank offer 2.45 is Ambank, but it’s true that extra payment need to go to counter. Additional payment will treat as advance payment. Lock in period 3 years with 3.5%. MRTA is compulsory, ~8K for 20 years.. Izzit a good deal? Or should I go for other bank?
OI construction board has up at the site.
@onered86
Believe me, OCBC better. Act fast before OCBC quota full.
@Bryan
Can you englight what is fact that support your point?
For 1200sq ft, after completion in year 2016 can it sell around 750k~800k? any opinion?wan to seek more input before sign SNP.
Yes, can share y OCBC is better then other Bank? the interest looks the same. any special term and condition different with other bank?
@Iambroke
In year 2016. Will you buy a 1200sqft house at 800K? If yes, the maybe can hit the price but how many people can actually afford to pay 800K for a house? Not many but who knows?
Buy to flip? If buy to stay, it doesn’t matter whether the price is 600k or 800k after 3 years. You still have to pay that price for similar house by then when you sell OI.
@D.MAN
Hmmm, 750~800k I think only managers only can afford to buy. A factory at lease has 10~20 managers depend on the organization size. I guess still better chance to sell it off compare landed which will hit million :). What do u think? 3 years later, Managers will go for landed or 750~800k Condo?
@PG Guy
Havent decide for own stay or flip…..Initial plan is for flip therefore would like to get more info and feedback from u guys.
@Iambroke
500sqf 2 rooms apartment in Hong Kong already price >RM1 million, why not? should buy 2 or more, keep one for ownstay and the rest for flip. Agreed?
You may want to refer to me comments on page #6, thread #194.
In short, interest rate BLR-2.4%, can get 0 lock in period, depend on your financial status, MRTA optional, come with renovation loan package and future refinancing package.
The refinancing package is something that you can get the additional loan with no question ask, if future interest rate is lower, to pay the existing outstanding loan amount.
This is very subjective. If I am staying in 900~1000sf condo right now, 2016 the condo appreciated to 600-700K, no harm to upgrade to 800K 1200sf condo. If currently only rent a condo, then I will not buy 800K 1200sf condo as first house.
I think you make a mistake. Ppl will not go to either 800K condo or 1.5M landed straight. I know many engineers buying >1M landed now because their existing condo already appreciated to 800K (bayswater). So, let’s say you buy OI now, and it appreciated to 800K in future, you will be able to buy >1M landed even though you are not manager (of course, I think you will be manager by that time).
@Bryan
Yes, agreed. Should buy 2 or more. Those engineers who bought 2 units Bayswater condo last time, like getting their ownstay unit for free+ 200K renovation, just by letting go the other 1 unit with 800k..
Speechless. Not really agree with your approach. Those are history and nobody know the future will be the same. I quota Bayswater just for the explanation, not encourage ppl to do the same.
@Iambroke
Make your bet now… it is only 2 scenarios later, either laughing to the bank and then aiming for >1mil landed like Bryan said, or pokkai hands burnt….
Buy shares maybe la. Buy house to stay how can pokkai? No house to stay perhaps…
Yes, i agreed that 1st house will go for medium cost instead of 800k above property. For a normal engineer with income <10K izzit really dare to buy 1.5M landed property??? even their previous house appreciate 200-300K but with the income i dont think they can afford to buy a landed property…even yes is very high risk.
@Iambroke
Some one mentioned in other thread that engineers working for 5 -7years earn RM8K-12K, and become millionaire in 12years (around mid 30s?), then why not?
i agree. most png engineer are millionair. fresh graduate alreay 5k. after 3 years become manager 10k. then another 5 years later become director 20k.so there are thousands of director and GM scattering around bayan lepas… malaysia boleh maa…
@Iambroke
I try to make a simple calculation. Let’s say an engineer earning 7K, house whole income 14K, existing condo worth 700K (assume loan settle as last time only buy at 300K), and rent market average 2.5K. And have the 10% deposit, 150K on hand.
Method 1:
Buy 1.5M landed, loan 650K, 35 years, BLR-2.45%, and sell the condo for 700K cash.
Monthly installment: RM3K (Only 25% of house whole income, RM1.5K per person)
Method 2:
Buy 1.5M landed, loan 1350K, 35 years, BLR-2.45%, and rent the condo for RM2.5K monthly.
Monthly installment: RM6.1K (50% of house hold income)
Monthly income from rental: RM2.5K
Net commitment: RM3.6K (RM1.8K per person)
So it is possible. Bank can loan up to 80% of NET house whole income. I use RM12K as NET house whole income in this case.
Of course, there are other factors/ commitments to be considered for any purchase. This is just a simple calculation.
Which company are you referring to?
Impressive inputs, James! Graduate at the age of 23 (5k), Manager at age of 26 (10k) and Director at age of 31 (20k)?
@Bryan
OIC u r refering to household income. Good sharing. Coz all de while I just assume individual buying that y curious y got ppl dare to commit 1.5M even income <10K PER MONTH.
If based on James statistic, I am sad n still behind the trend hahaha. Fresh graduate adi 5k, 3 years experience adi 10k, early 30’s 20k. Hmmmm for my understanding only oil n gas industry can get this n provided u hv to be on field work. Or else pls share which factory can offer?
Any vacancy available? I’m above 30yrs old, manager position is enough for me. Money back guarantee
Hi there, I would like to release my unit E block, 1200sqft. It comes with DIBS, 4 aircon and 1 car park. Anyone interested, please contact me via myprofitstart@gmail.com. Thanks
How’s the sale of this Condo? Completely sold out?
@Ronnie
What is the selling price? Below RM500k?
Hi Ah Dog, yes, it is below RM500k. If you interested, do drop email to me.
For serious buyer only.
Sorry, typo of my email address stated above. This is the correct one – myprofitstar@gmail.com
@Ah Dog
I got one unit.. 1180sf.. Selling 390psf.. Email: jackloke@live.com
0164121027
@JL
How you make money % from subsale? You need pay lawyer transfer fees + RPGT. – 20% interest, for 3 years?
During booking, i thought developer dont not allow to transfer, if you plan to drop have to release back to developer.
Oh @Bryan, very interesting calculation. Let me add more details to your “simple” calculation:
1. Condo last time bought RM300k now worth RM700k – only Bayswater (launched 2004, total ~400 units). Other similar range condo like I-Regency & etc only about RM500K+ only.
2. Loan tenure 35 years, the borrower age now 35 years old (max loan to 70 years old, have to serve loan even after retire, or settle with EPF)
3. To settle RM300K loan and save Rm150K in 8 years (2004 till now), monthly commitment ~RM5K. Assumed Engineers with 2 years experience probably earn ~RM3k net after deduct EPF & income tax, 2 engineers (assumed married) = RM6K NET. Only left RM1k for monthly spending for both. Can’t even afford a new Proton car. Have to live like bangla operators for the initial years.
4. Finally both salary increase to 7k after 10 years. Life commitment also increase (having kids, buying new car, and life insurance, kid education funds, etc..)
5. Dare dare commit the 1.5mil property…
6. Opps, economy downturn… retrenchment and 1 has lost the job!
7. Have to live the life of bangla operators again, or has to cheap sale the properties….
hee hee hee
@heehee
It’s ok for not believing my story. I quote it a simple calculation because using the example Bayswater straight to landed. In actual, more properties involved. And, guess your market price is outdated. And, if you think 1.5M is too much, 1M still can get landed today. The 1.5M in this case study is future price (When OI appreciated to 800K). Also, I used the example 7K income, and Iambroke question is actually mentioned about <10K income.
The example is to tell you that there are ppl owning properties out of their salary income. Doesn't matter about the numbers.