hahaha :
@PangCW
that is it redi, who ask you follow the crowd. ppl buy you oso buy, already stated it is 615sqfeet, you oso can’t wait jump into it. >500k for 615sqfeet, congratulation !!! hahaha

Hello! I didn’t follow the crowd, I already have intention to buy that area and studio size. I already did my survey compare with KL and Klang Valley. Pls don’t simply comments base on ur points!

actually it is good deal for buyers..u pay 5%, and wait 6+mths..if dont like, just show loan reject and get
refund…buyers basically ‘lock-in’ the price and can always decline later

Not good if u r look see look see only. waste everybody time and money.

pwc :
actually it is good deal for buyers..u pay 5%, and wait 6+mths..if dont like, just show loan reject and get
refund…buyers basically ‘lock-in’ the price and can always decline later

This way may be fun but you lose opportunities….. property investment is no child’s play… be serious…. think rationally and you will reap huge rewards and enjoy a very comfortable retirement…..

Jessie :
Not good if u r look see look see only. waste everybody time and money.

Agree…. most important… you waste your own time which is PRICELESS

Jessie :Not good if u r look see look see only. waste everybody time and money.

First step of course “look see look see”……
If really like it then go for next step…..
Let’s walk before flying….

For people who are buying. I have a chat with my banker, and he told me that by law, they MUST refund the 5k if you don’t want it. This is the case, since something is not solve yet. I could not remember the detail, something like the they haven’t got the approval or something.

Sounds like flipping anyone…? wink wink…

@kotun
Is it the project approval from MPPP?

This ‘game’ is common…buyers book unit (some multiple), and look see look see whether project is well received, then decide later…eg. If block e later is 900psf, I am sure many will not let go blk a and b, but if blk e is say priced at 600psf, I am sure buyers will cancel the booking…in fact if u have capacity for the5% deposit, u can book multiple units and decide later..I am not saying its fair but sometimes this happens

@kotun

teoratically yes.. but if it really happens, the process of getting back the 5k will not be so smooth if you not able to show 2 reject bank loan. since this is the ivory person verbally told me need to have 2 reject bank loan, i am starting thinking the worst case scenario, how to make sure the bank 100% reject you.
the terms of reject/unapproved also very scary. if bank approved your loan by giving you 70% , 80% loan is still consider an offer and not reject.

will need to spend time and may be $$ to get some people help to get it back.

one of the loan officer told me they know the rules and regulation very much and know what is the customer right, but normally they wont tell u too much as those developer is also their customer, if they blacklist the bank/loan officer, he will be hard to survive in future then.

i wish all can be smooth, a happy property buying process.

How much your guy is paying? Am thinking summerton vs PWC @tomyam

Typically there will be certain amount of buyers pull out last minutes or loan get rejected during final S&P signing. The early buyers rebate is to make it look like you have profited 5-8% on paper and all smiling during the S&P signing. You might want to wish people who drop is less than people who take up later, else your subsales price won’t be so attractive.

tomyam :@kotun
teoratically yes.. but if it really happens, the process of getting back the 5k will not be so smooth if you not able to show 2 reject bank loan. since this is the ivory person verbally told me need to have 2 reject bank loan, i am starting thinking the worst case scenario, how to make sure the bank 100% reject you.the terms of reject/unapproved also very scary. if bank approved your loan by giving you 70% , 80% loan is still consider an offer and not reject.
will need to spend time and may be $$ to get some people help to get it back.
one of the loan officer told me they know the rules and regulation very much and know what is the customer right, but normally they wont tell u too much as those developer is also their customer, if they blacklist the bank/loan officer, he will be hard to survive in future then.
i wish all can be smooth, a happy property buying process.

no worries. it’s easy. just ask around how to do it.

Fabian :How much your guy is paying? Am thinking summerton vs PWC @tomyam

mine is 872sf, about 6xxk (avg 750 psf) before discount.
one of the reason i get pwc is freehold, it depends on own preference. but if dun mind whether it is freehold or leasthold, may be i will grab a unit in putra place as so far some of my friend staying there is happy and their monthly maintenance consider very reasonable in the market. and since there is many unit there, there is more opportunity to get a unit in discount rate.

Why so quiet this forum? I tot PWC is very hot?

Nothing to buy already… mah not hot lo

All sold? no more unit?

YumYum :Why so quiet this forum? I tot PWC is very hot?

417 comments in less than 1 month. Quiet? Nt Hot?

@islander

Liked!

islander :

YumYum :Why so quiet this forum? I tot PWC is very hot?

417 comments in less than 1 month. Quiet? Nt Hot?

Liked!!!

This morning the stench from the river (longkang?) is just unbearable!
But it happens only once in a bluemoon.

Ye :
This morning the stench from the river (longkang?) is just unbearable!
But it happens only once in a bluemoon.

Extra value for money…. free smell from the sea…. yea

Ye :
This morning the stench from the river (longkang?) is just unbearable!
But it happens only once in a bluemoon.

Blue moon And Full moon !!!

Can anyone comment/rate on this developer IVORY based on their past records?

How about track records of Tropicana

Heard positive comments about Ivory from a past purchaser who works in press.

Did not hear any negative comment about Tropicana so far.

But I would not be surprised to hear negative things about them from past buyers. Even when I look at SP Setia’s product, I have my negative views. YTL, lagi worse. Its quality of material is much worse.

I kind of like Bayswater, can they beat it?

There is nothing special or attractive about the bay residence development itself, in terms of facilities, view, design, unknown factor in quality etc. I believe there are more new projects in the island currently which can match the standard. However, what trully distinguish Bay residence from others are the location, and also the future development.

Location wise is strategic – in between both bridge, very good accessibility through highway and no major jam problem. It is a seafront project – exclusiveness is there, and the neighbourhood is good. There is going to have a bicycle route in near future.

Future development wise there is going to have a mall, seafront park, medical centre and etc, will be very convenient. Dun forget that queensbay and the light waterfront are just next to the door-step, this are the add-ons. Youngers nowadays going for lifestyle living, and this projects fits into the description.

jelly :
There is nothing special or attractive about the bay residence development itself, in terms of facilities, view, design, unknown factor in quality etc. I believe there are more new projects in the island currently which can match the standard. However, what trully distinguish Bay residence from others are the location, and also the future development.
Location wise is strategic – in between both bridge, very good accessibility through highway and no major jam problem. It is a seafront project – exclusiveness is there, and the neighbourhood is good. There is going to have a bicycle route in near future.
Future development wise there is going to have a mall, seafront park, medical centre and etc, will be very convenient. Dun forget that queensbay and the light waterfront are just next to the door-step, this are the add-ons. Youngers nowadays going for lifestyle living, and this projects fits into the description.

Liked!

@jelly

I only heard from the sales that they are planning a medical center but no other commercial property. All will be high rise condo. Maybe need to verify that again with Ivory or else invest into wrong property.

Quote, “Nobody can forecast future property prices accurately but we can anticipate and estimate the probability of future prices based on the current situation. If the property was bought in a crisis market, the chances of capital gain is broad based and high. If the property was bought below market price in a highly populated area, you are almost certain in making capital gain.

If you buy a ready-built matured property which is way below the brand-new high priced property nearby, you have almost certainly made money.

On the other hand, if you buy property in an over supplied high-rise residential property, you are almost certain of future capital depreciation. If you buy an over supplied high-end landed residential property in a middle and lower income area, you are almost certain of capital depreciation.”

I think Bay Residences is at “over supplied high-rise residential property” category.

@jelly liked!

@Chan

Unless something spark it up, otherwise over supply will always remain as over supply for years.

Btw, since 2000 Pg already have excess residential unit (excess ~100K units), I take it as over supply.

@LY
Phase 1 is purely residential. But there shall be commercials in the upcoming phases. Qouted from the Dijaya website:

“Contemporary Seafront Commercial Animated by Leisure Space
The iconic look of the commercial tower is the bedrock of a new central business district in Penang WorldCity. Wrapped by a seafront promenade and peppered with lifestyle retail outlets and alfresco retail space, this exhuberant business hub will also have convention centres, international school, wellness centres, and high end international hotel chains to elevate the status and prestige of Penang WorldCity.

Meticulously Planned Development Propels a Healthy Lifestyle

Mindful of the impact of too soon, too much progress, the planners have included a generous leisure and recreational space to the master plan of Penang WorldCity in an effort to encourage wholesome interactions and activities. Facilities include a vast man-made lagoon, designated pedestrian, vehicle and bicycle lanes, proposed public infrastructure, landscaped boulevards and arenas for cultural exchanges.

Island Charisma Meets Cutting-Edge Architecture

A sublimely beautiful seafront development with residential, commercial and leisure precincts, Penang WorldCity seeks to embrace and celebrate the cultural importance and seafront beauty of Penang island, creating a vibrant and exciting development that not only delivers high business and investment value but also a wholesome lifestyle by providing vehicle-free public spaces for leisure and cultural exchanges”

The term “Over-Supply” can be subjective. If you are using an average statistical data by nation or state this will never be accurate. Take Penang as an example, the state itself consists of the Island, and the vast mainland. The over-supply in the state does not imply that the island is facing this tussle. Penang island houses the capital georgetown, heritage enclave, offers better job oppurtunity, infrastructure and lifestyle such as leisures and convenience. People flock into the island to enjoy all these features, everybody wants to own a piece of property here. Furthermore there is a scarsity of land in the island right now, as accredited from the poor urban planning and the love&passion of our environmentalist, it is not logical to say that the island will run into over-supply situation now or future.

There was also a saying of over-supply of residential property in KLCC , Sri Hartamas and Mont Kiara some years back, but up to now i don’t see the price drops at all. I strongly believe that as long as the location is tip-top, the demand will always be there. Rental may stumbled a bit, but long term appreciation is almost guaranteed. Most of the investors in singapore dun even care about the rental return, as their appreciation rate is good enough to cover everything.

Coming back to Penang, take Bayswater as an example, this is one of the most appreciative condo project in the island so far. Apart from being built by the reputable developer, what keeps it going is the location – good accessibility, hypermarket (tesco), and e-gate, these are the lifestyle-living as commented by somebody earlier.

@jelly

I hope you are right. The sales at Bayan Mutiara said only condo will be built here. I think Ivory should built a model to show the whole plan to buyers. Something like The Light.

Developers are not stupid.
Commercial properties have better profit margin. They will build the crowd thru residential, then launch the commercial units when the residential is matured.

Don’t you think so?

@元肖日

Time Square not a good example, the shoplots next to Summerplace also dead. How come the commercial properties at good location still can’t survive? So far only QBM and Gurney being managed well.

QBM and Gurney belongs to capital land that’s why it is well managed.

I think if Dijaya would not built a mall, it should be sustainable because they can depend on berjaya group companies to fill up majority of the lots, like what happen to tropicana mall

@Jay

Why not depend berjaya group companies/ associates to fill up majority
of the lots at PWC ? Sales closed. 100% sold, construction can start right
away.

They have a piece of jewel here. Building malls and many high-rise will return less to the people and themselves. Make full use of the coast, give it ‘oomps’ feeling that ppl need.

Went to sales gallery, they have contact for panel bank – Am, Affin, OCBC, maybank.
Saw some units of 615, 1020, 1302sf from Block A & B back to available.
according to sales, 3+5% still applicable for Block A & B.

Jay :
QBM and Gurney belongs to capital land that’s why it is well managed.
I think if Dijaya would not built a mall, it should be sustainable because they can depend on berjaya group companies to fill up majority of the lots, like what happen to tropicana mall

QBM & Gurney are mostly for leasing only. Capital Land owns most of the units, that’s why they can impose strict guidelines, penalties, and choose their tenants, hence being able to manage & do so well.

Chan :
@元肖日
Time Square not a good example, the shoplots next to Summerplace also dead. How come the commercial properties at good location still can’t survive? So far only QBM and Gurney being managed well.

Hey, shoplots in Times Square at ask sold out. Ivory has collected the money. Whether biz is good or otherwise not the developer’s problem anymore. That’s why I said develops are smart !

sjt :
There was also a saying of over-supply of residential property in KLCC , Sri Hartamas and Mont Kiara some years back, but up to now i don’t see the price drops at all. I strongly believe that as long as the location is tip-top, the demand will always be there. Rental may stumbled a bit, but long term appreciation is almost guaranteed. Most of the investors in singapore dun even care about the rental return, as their appreciation rate is good enough to cover everything.
Coming back to Penang, take Bayswater as an example, this is one of the most appreciative condo project in the island so far. Apart from being built by the reputable developer, what keeps it going is the location – good accessibility, hypermarket (tesco), and e-gate, these are the lifestyle-living as commented by somebody earlier.

You may see Bayswater price drop significantly later when the seaview been blocked by highrises on reclaimed land infront later.

<blockquote cite="#commentbody-117878
Chan :
@元肖日
Time Square not a good example, the shoplots next to Summerplace also dead. How come the commercial properties at good location still can’t survive? So far only QBM and Gurney being managed well.

Because Penangites like to put all the money to buy residential properties and leave it vacant, no money or kiam siap to shopping/enjoying. Or may be the house price is too expensive until penangites has no more life style…tight up with debt.

Ivory is a bad developer, look at how penang tines square being manage, even the main tenants jus move out before CNY. The did very little to make it a success and ivory jus dont give a damn. Due to this development failure, I hav lost trust on them on making it big or grandier. They jus dont hav the grade to be on the same par as IJM or even MahSing.

Penanghomer :
<blockquote cite=”#commentbody-117878
Chan :
@元肖日
Time Square not a good example, the shoplots next to Summerplace also dead. How come the commercial properties at good location still can’t survive? So far only QBM and Gurney being managed well.
Because Penangites like to put all the money to buy residential properties and leave it vacant, no money or kiam siap to shopping/enjoying. Or may be the house price is too expensive until penangites has no more life style…tight up with debt.

What r u talking, how can u compare a shopping complex shoplot with 3 storey shoplot. Please compare with the same comparison such as 1st avenue with times square and not lot 28. Why not u jus compare with commercial title residential title. Nonsense. .

@penangite

IJM is a reputable developer. Lot 28 is sa front promenade with bridge view. I think you and I know why Capital land mall is successful but not those ABC commercial lots.

元肖日 :

Chan :
@元肖日
Time Square not a good example, the shoplots next to Summerplace also dead. How come the commercial properties at good location still can’t survive? So far only QBM and Gurney being managed well.

Hey, shoplots in Times Square at ask sold out. Ivory has collected the money. Whether biz is good or otherwise not the developer’s problem anymore. That’s why I said develops are smart !

Not the developer problem any more. Luckily these words are not coming from Ivory itself.

I do feel that Ivory try to make Penang Times Square a success, the design not bad and they do decoration & events trying to boost it. However, Ivory’s luck not that good, their project usually not doing that well (The View, Ivory Plaza). Agreed that commercial activities/shoplots cannot do well in Penang, even those Bay Avenue shoplots beside QBM also a lot vacant.

Hi Bryan,

You are right. Statistics wise, there is an oversupply of residential properties in Penang. But something that puzzles most is, why is price not dropping? or at least not yet!….:)

I think there is a few reasons :-

(1) People have been buying with cheap money in the last few years. It’s not uncommon to hear someone owning a few properties but not staying there nor rented out.
(2) As long as people can afford to hold, prices would probably remain stable or stagnant (but not dropping).
(3) It probably takes a recession/crisis kind of situation to bring prices back to match fundamentals.

It is highly likely that people would start to loose money on properties very soon, loosing not in terms of the value of the properties, but because of all the finance charges behind (legal fees, stamp duties, interest charges etc) when they dispose of their “investment” properties, as evident in recent asking prices for properties for sale.

Anyone know about the Chow Tat Send & Low lawyer firm? good reputation?

Limited units available..

More unit to release later… be patient.

Anybody who already signed the SnP?

Wanna check do they specifically mentioned the car park lot? and also the ceiling height?

@Jay
come with 1 car park. No detail for layout.
Need to sign again additional document with the detail layout later.

Is it stated that it come with one free air-con?

@islander

islander :
@Jay
come with 1 car park. No detail for layout.
Need to sign again additional document with the detail layout later.

Thanks Islander

Does anybody know whether their master and building plan already approve or not? Also do they obtained advertising permit? Coz their brochure didn’t even mentioned as compared to other projects brochure like ijm the light.

condomana :
Hi Bryan,
You are right. Statistics wise, there is an oversupply of residential properties in Penang. But something that puzzles most is, why is price not dropping? or at least not yet!….:)
I think there is a few reasons :-
(1) People have been buying with cheap money in the last few years. It’s not uncommon to hear someone owning a few properties but not staying there nor rented out.
(2) As long as people can afford to hold, prices would probably remain stable or stagnant (but not dropping).
(3) It probably takes a recession/crisis kind of situation to bring prices back to match fundamentals.
It is highly likely that people would start to loose money on properties very soon, loosing not in terms of the value of the properties, but because of all the finance charges behind (legal fees, stamp duties, interest charges etc) when they dispose of their “investment” properties, as evident in recent asking prices for properties for sale.

Agree with you. When to stop property investments in Penang? I think in SouthEast once the price is >500psf it is the right time to stop. In Northern, Georgetown,Gurney,Tg Tokong price >1100psf better stop there

@yapp

Any reason why you use 500psf and 1100psf as your reference? Or all what you want to say is NOW is the time..

simple, because he has backed out from penang properties and want it crash, so he ask you to stop at 500 psf

Anyone know when need to show the bank loan reject letter to developer in order to get the refund of the downpayment?
Any deadline?

I need to know too… Need to get my down payment back!

@CH
Any reason to drop? What is your unit?

The IVORY staff told me you need to write in a letter to withdraw for whtver 14 days before 9mths tht thy will send for stamping.

@PangCW

this will be a problem as they did say final stamping might be in year end, so 9 month before already March. According to the public bank loan officer, they tell me currently they still not accept the loan application for pwc yet as what end of finance for pwc is not yet happen.

islander :Anyone know when need to show the bank loan reject letter to developer in order to get the refund of the downpayment?Any deadline?

have you pre-sign the snp doc and start applying the loan? the bank officer that i call all ask me to wait and will contact me later, say not yet accept the application for pwc project even they are panel bank???

tomyam :
@PangCW
this will be a problem as they did say final stamping might be in year end, so 9 month before already March. According to the public bank loan officer, they tell me currently they still not accept the loan application for pwc yet as what end of finance for pwc is not yet happen.

I asked the lawyer firm regarding the loan application process and thy said right now we can only servey for banks although their panel banks. Start applying only after they sent snp for stamping which is around sept time frame.

@PangCW

hmm.. but i have the feeling ivory will try to drag the date for stamping.. as most of their project snp stamping date is dragging… :p

Any unit available?thanks

PangCW :

tomyam :
@PangCW
this will be a problem as they did say final stamping might be in year end, so 9 month before already March. According to the public bank loan officer, they tell me currently they still not accept the loan application for pwc yet as what end of finance for pwc is not yet happen.

I asked the lawyer firm regarding the loan application process and thy said right now we can only servey for banks although their panel banks. Start applying only after they sent snp for stamping which is around sept time frame.

wrong, you apply now even without the snp stamping
after you know you can get loan, then only you sign snp
you can save yourself a lot of hassle

Chow Tat Seng & Low are the brother-in-law & sister to Ivory’s boss & Techware’s boss.

@101

Do you know which bank is open for the loan application for PWC?

So far i have ask public, hong leong and ocbc a weeks ago and all tell me wait, they need to wait ivory release more detail and end finance of pwc done then open for us to apply…
maybank say they can let we apply another ad hoc housing loan but not the normal process..
in this case, we are not able to confirm our bank loan approvel before the pre-sign process…

anyone already sign it? i ask some of my friends and they tell me the laywer firm not yet call them to pre-sign?

any info to share on any way to get the loan approval by only the booking receipt? thanks

@pg gal

Is techware the developer of putra place?

wow.. all of them satu family!!!

@tomyam
Already signed pre-snp. Lawyer said will stamp end of this year.

Pre-signed more than 2 Weeks ago

HK :
Any unit available?thanks

no

101 :

HK :Any unit available?thanks

no

Still have some units last week …. Block A, B,C D…
Just drop by the sales gallery at Bayu Muatiara..

@islander
Thanks.

The developer trying to make this project looks like its a hot cake, but its not. The fact that thereis so much units left only show either customer cancel or they pretend those units are sold during launching.

@HK

You got it right. I had many comments deleted.They are saying what they
want to hear that sound musical to their ears.

the better units are really sold out , left bad units

what were the so call bad unit? Mind to share?

Bad units are those facing west or near to the highway or those too near to the power station.@dk

thanks Tom… where is the power station? I don’t see that on the plan.

101 :the better units are really sold out , left bad units

What size, which block?

Hai tom the power station is near the block a & b and near the “longkang” ?

Yes, u r right.@Andy pg

@Andy pg
Not to worry. It’s a TNB substation and only 3 storeys high i.e. as high as the car park level only and won’t block the view from Block A/Block B.

@bain
Block B won’t be blocked by the TNB station but Putra marine and putra place (16~18 floor) …

That why i bought Block D with above 20 floors. Facing sea (at least for coming 4 years)

I cant imaging, this Penang world city + The Light Iconic Waterfront Combination, will chnage Penang City look into a place like Manhatten+PuDong in Shanghai+Singapore’s Marina …… small unit apartment will cost USD 500K or RM 1.5 million.
Look forward.
Because of the location, just buy and no regret one. Any unit will do.

@islander
Agreed, however distance between Block B to Putra Place/Putra Marine not so close (about 300-400m) and separated by the river/canal. If no seaview, still got river/canal view which will be nice provided the embankment is beautified.

Anyhow, can go up to the 23rd floor viewing deck at Block D to enjoy seaview since this level will be higher than Putra Place/Putra Marine top level.

bain :@islander Agreed, however distance between Block B to Putra Place/Putra Marine not so close (about 300-400m) and separated by the river/canal. If no seaview, still got river/canal view which will be nice provided the embankment is beautified.
Anyhow, can go up to the 23rd floor viewing deck at Block D to enjoy seaview since this level will be higher than Putra Place/Putra Marine top level.

Sorry, should be 23rd floor viewing deck at Block B, not Block D.

YumYum :That why i bought Block D with above 20 floors. Facing sea (at least for coming 4 years)

@YumYum

any idea the 2 block in front of block C and D when will be launch? if it launch just half year down the road.. then will be about the same…

@bain
I said so because facing direction of the building is the parallel with the canal.
Anyway, it is good to have roof top viewing deck.

what will be the impact of tnb substation? I understand that people don’t want high power transmittion tower (at least 1km away) but never heard of complain regarding substation…

@dk
should be no problem as long as not side by side.

islander :
@bain
I said so because facing direction of the building is the parallel with the canal.
Anyway, it is good to have roof top viewing deck.

What can we do on the rood top viewing deck… at night… nothing to seen……black black…. only…..

@Pinang Pisang

mid autumn day.. all resident playing lantern there…
night view of a city is always very nice.. (assume nothing is block and can at least see seaview or city view)

@tomyam
you can have picnic there too… haha.
i read one kl project brochure, quite amazing, they even have a big kitchen in the sky deck.

@biscuit

sounds like can having apartment BBQ session…

not a good sign, PWC so quiet already ……. tough time ahead.

Penang Island ada terlalu banyak condo…..wait for crashing…..then I picking time to buying

Anybody sign the SnP?

many signed already… just pre-SnP…

islander :
many signed already… just pre-SnP…

Is this project good?

@Penang Developer
The location is good and strategic…
no doubt the price is higher than neighbouring … (future price 3~4y)
worth or not depends on ppl…

i am letting go my unit, feel that it is too expensive

@worth?
so any reason for booking?
Which block / size?

@worth?
Which Block / Floor / Size (number)

@worth?
Which block & how much?

@worth
which unit you r having? size?

@worth? i have a 1600sq ft , is it too expensive to pay 1.1 mil for it?

@psy
If I were you, affordable for 1.1mil units, it is better to go for landed…
again, your choice…

@psy

If I have that.. i will go for landed too..
Been to sungai ara one residence before.. also around this price… it is very nice.

or wait for another face that really confirm have seaview.. then get a unit may be 1020 sf will do : )

rm1.1 million can get you a studio unit at quauside 1100sft partially finished with water park. location also better.

tomyam :
@psy
If I have that.. i will go for landed too..
Been to sungai ara one residence before.. also around this price… it is very nice.
or wait for another face that really confirm have seaview.. then get a unit may be 1020 sf will do : )

Agree…. Landed will be better at this price range…….scarce category….. pay a bit but peace of mind that it will surely appreciate even during recession…..

@Local Man

Anyway, landed property for own stay or long term investment is good.. if target to get rental will be very poor return.
recession time landed property price will going down some as well.. like last time i remember pantai jerjak landed price is about 450k during 09 year , i saw that in newspaper. just that they rebound speed is fast.. but again.. their rental is so terribe..

a friend of mine rent sp setia master bed room for about RM400 only.

@tomyam
Yes… laned low rental is common knowledge…..but then again….landed is scarce… will appreciate much more in future…..condos age and problems like leaking will set in…. quarrels with upstairs neighbour is common as to who should repair……horror neighbours how live directly upstairs or downstairs….. banging floor or roof incessantly….

@Local Man

true also.. sometimes very depends on luck to get a good neighbour…
just that nowadays.. better get a gate n guarded landed if financial can affort..

@tomyam
True…. minimum guarded for landed properties…..each month about RM100 will be well spent…. do not be stingy….you pay peanuts for guards you will get peanut service…….eat snake all the time……

Local Man :
@tomyam
Yes… laned low rental is common knowledge…..but then again….landed is scarce… will appreciate much more in future…..condos age and problems like leaking will set in…. quarrels with upstairs neighbour is common as to who should repair……horror neighbours how live directly upstairs or downstairs….. banging floor or roof incessantly….

Wah Local Man, quarrel up and down, banging floor and roof. Very happening loh your neighborhood. May I know which project is that ah?

anyone get the bank loan approval?

@islander

Not yet apply.
Not even pre-sign the snp yet. Some of my friends not even receive lawyer call to sign n make the 5% payment.

I will sign on end of this month, probably apply the loan on June.

i have cancelled my booking.

@islander
wise decision, well done.

islander :
i have cancelled my booking.

have u collected back your booking fees?

How did u cancel the booking n get back the booking fees?

buyer :

islander :i have cancelled my booking.

have u collected back your booking fees?

Someone use my ID name!!!
I do not cancel……

so childish la..for whoever did that @islander

islander :
@CH
Any reason to drop? What is your unit?

Just thought that it is not worth it… might be another high dense M Park? no different compare to other development other then expensive and high dense. Anybody get full refund?

Related example is time square. so many block with so many units… scary. what a waste because this is a superb location (i love the location) but another junk in the making by ivory. sorry this is just my thought, please keep to your decision. I hope it turn out to be a dream home for those who decide to buy.

@CH
I think the price for that location should be ok (in 3-4 yrs). It is not that expensive.
I do agree with you that Ivory produce high dense development. That make the different between $$$ mind developer vs quality developer, ie IJM, SP Setia…

@KG
Agree. I also observe that Ivory is a greedy type developer. Because Bay residence is a seafront project, the demand may be better than time square after it is complete.

Block A- 455 Sq feet got 2 units released!!
Any one interested? Fast fast still valid 3%+5%

Are you sure?
That will be very good bargain, low entry cost to high end property (less than RM400K) only

beside free S&P, the package also includes the legal fee of loan agreement and loan stamp duty,right?

-Free S&P
-DIBS (Developer Interest Bearing Scheme)
-Loan Agreement legal fee (You have to pay but you can negotiate with the bank)
-Ok, basically, if you have RM20K for the 5% during S&P signing, you do not have to worry any payment until you receive the key.

@Alan
WHAT IF I ONLY TAKE 70% LOAN? Do i need to pay interest?

@Surrounding

Is it means the rest of the small unit 1300 sf unit entitle the 3+5…

@Alan
Thanks

I thought only Block A has 455 sq feet studio, right? Even that also very limited.
I heard on the first day, already sold out. Early purchasers could not even buy this cheapest unit even Q for many hours. Impossible, no?
The most affordable also around half a million

@Scorpion
if you can only take 70% loan, then you will lose out, as you need to pay cash on the pregessive payment for first 30%. Nothing you can do with it.

@Weng
It is true. I saw 455sq unit are available 2-3 weeks ago…

455sqf is very small area, try to find a place with 455 sqft and imagine the stay. There are more than 2 units type 455sqft available when I called yesterday (3+5 is applicable too), and in the beginning they offer 5+5%, try talk to the developer, they can still give 5+5

hahahaha…
You know how people quarrel to get those 455 sq feet on the first day of launching?
And there are hundreds and hundreds of people buying this PWC, spending at least RM400K to RM1 million. By logic thinking which one is a fool?
-Hundreds of people who can afford half a million RM apartment or
_a guy predicting The Light price will drop to RM300K

thinking to change to 455sf unit (Blk A), lower price but it is facing west and main road (noise)…
any other opinion on 455sf?

If there is rival for 455 sqft why there are left units now? Think of it after you bought it, not much space to move around. When relatives or friends come visit also need to squeeze. Undecided buyer need to think several days and retreat from sales office even visited few times for 615 sqft or 872 sqft units. Small size with RM400K that’s the technique to lure customers. Kindly enlighten us for the 455 sqft if one have to stay there for future despite the only pro is RM400K. Pls do not divert to the name that I am using. haha. Which unit you purchased in the Light?

Have any people want cancel their booking at Block A ..

872ft2 or 1020 ft2 or 1045ft2

We want take it .. about 4 unit ….

My friend want to let the 455 sq ft unit. I still considering whether want to take over the unit. The his reason are:
1. The unit is too small, suitable for single person. Many people may not interested, very hard to resell or to rent.
2. His unit is facing highway, may be dusty and noisy.
3. The future development plan of the entire area is nice but not yet confirmed, it may change.
4. It is a high density condo, the traffic may be congested.
5. There is no balcony.
6. Too expensive (>700 per sq ft and without sea view and balcony) if compared to nearby condos (~500 sq ft). Lease hold or free hold is not his concern.

Initially, he thought that just paying around RM20k for deposit, he will only need to pay installment after the condo is finished built. At that time, he may sell it at higher price.
Since the cost of the unit is quite high, he worried that the ROI may not be good.
If economy crisis strike and no people buy, then this condo will become his greatest burden.

I’m quite like this unit because:
1. The strategic location, very near to Queensbay and FTZ.
2. Free hold.
3. Great future development plan in the whole area. Hope can become next Strait Quay.
4. High ROI if no economy crisis and if the studio suite living concept become a trend.
5. Affordable for me as it is below RM400k. Very difficult to find a nice condo below RM400k in Queensbay area.

I am really having hard time to do the decision. I also plan to resell it after staying few years. Headache…

Scorpion :
@Alan
WHAT IF I ONLY TAKE 70% LOAN? Do i need to pay interest?

then you are not fully enjoying DIBS. not very good move

DIjaya recently launched phase 2 of Tropicana Gardens in Kota Damansara (with MRT,leasehold)..the price is about RM1100 psf and fully sold all the small 600sf units!
They are becoming too confident and may influence their future pricing here..

@pwc
If MRT is passing PWC, it will be different storey…

Hi penangboy,

Why not buy Putra Place? or Gold Coast?

Putra Place and Gold Coast are least hold .

In malaysia, is there any condo with 450 sq ft?

@penangboy

jelutong straights garden?

leasehold is bad..don’t buy…cannot sell later

hi penangboy,

OK. Assuming they are freehold, would you rather buy Putra Place or Gold Coast?

@condomana
I will choose Gold Coast if it is freehold and new project.
However, its price will be much higher with freehold tenure…..may be match with Baystar…
What do you say?

Have any people want cancel their booking at Block A ..

872ft2 or 1020 ft2 or 1045ft2

@cm

872 sf seems more worth as there is nothing much different between 872, 1020 and 1045. All comes with 1 car park only but the price makes a lot different.
I wonder developer will start selling extra car park on the coming days or for future higher price buyer.. they come with buy 1 free 1 car park tactic.

@tomyam

I agree your point. So, now i just want to find who want to cancel their booking at Block A.

872ft2 or 1020 ft2 or 1045ft2

For my view, if we want to get a property at Penang island. This few year is the last change to own it. Don’t say want to wait …….. economy crisis strike … will happen … But, not much effect with property.

In Malaysia, economy crisis strike happen how many time already. Are the property price come down ??? Not …. the property cost still Increase min 10% per year… Another 10 year, i think in penang the condo property will go to min RM1000/ft2 .. That is the basic estimation.

the corner unit 1045sf has a large masterbedroom..interesting design and i think only one unit only at some floors

How is the 1045sqft unit looks like? I didn’t see it in their website or brochure…

Yes .. i own 1 unit already (1045ft2) … just find another unit again ….

872ft2 or 1020 ft2 or 1045ft2

The 1045ft2 i ask from HQ …. Here don’t have ….

@tomyam

Ivory sale said no sell carpark because carpark 3 lever only ,no place to make carpark..

Nowadays, many families have 2 to 3 cars. If park at outside condo, no good.

@Andy pg

Hmmm.. curious why they dun just add another 2 level of car park.. since selling car park is making so much profit by selling empty space in the air…
If the bus terminal in front of the phase 1A can everyday having shuttle bus to all main factory will be nice

@penangboy

It’s true.. i guess 2 will be just nice.. but sometimes we can’t do nothing if developer dun have extra to sell. This is one of the point i do consider to get a 415 or 6XX sf unit coz only 1 room.. 1 car park will fit.. but they told only those 1300 onwards entitle 2 car parks.. so not worth to get > 872 sf unit if you are from big families.. if for rental may be still can take some little risk that those tenant got company subsidy.. can take taxi everyday.. (which a lot of my foreign colleague from india is currently doing.. most of them rent in putra place n get a taxi everyday.. )

@cm

I have a unit 1020sqft Block B, interested?

@Bryant
What is your Block No…..

don’t buy, sinking land with blockage in front view

@Bryant
I think is Unit 6 or Unit 8…

I want is Blok A …

@cm

Thought you might consider Blk B.. It’s unit 02..

islander :don’t buy, sinking land with blockage in front view

Land is sinking????

@islander_Ori
Why you know land is Sinking ?????

@cm

your question to “islander”….

@islander
How you know Sinking land ??

Studio suite… PWC 455 sqft vs Strait Garden 485 sqft …which more worth it ?

@penangboy
what is the price of SG’s 485sf unit?

Any idea why all the details on PWC were removed from dijaya website

@Jay
The PWC details is still there, why u said is removed from Dijaya website?? http://www.dijaya.com.my/ourprojects/future_penangworld.php

just to share on bank loan for those not eligible for 90% due to owning more than one property. you could still enjoy the DIBS fully by putting the difference of 20% value in FD. The bank will pay you the current FD interest rate. However, upon completion of the project, the 20% cannot be redeemed by you but can only be use as your upfront payment i.e. you will then owe the bank on a 70% loan and not 90%. During the 3 or 4 years construction period under DIBS, you will enjoy the FD interest. Otherwise if you pay upfront 30% to the developer, they will enjoys less interest payment to the bank.

@pgborn

is most of the people already start applying loan or need to wait till June only apply?
Ivory person told me no need to apply that earlier , probably apply on June as the real sign of snp is on year end.

PG188 :
@Jay
The PWC details is still there, why u said is removed from Dijaya website?? http://www.dijaya.com.my/ourprojects/future_penangworld.php

The floor plan, the common area plan (2nd, 3rd and 5th Level) were not there anymore

pgborn :
just to share on bank loan for those not eligible for 90% due to owning more than one property. you could still enjoy the DIBS fully by putting the difference of 20% value in FD. The bank will pay you the current FD interest rate. However, upon completion of the project, the 20% cannot be redeemed by you but can only be use as your upfront payment i.e. you will then owe the bank on a 70% loan and not 90%. During the 3 or 4 years construction period under DIBS, you will enjoy the FD interest. Otherwise if you pay upfront 30% to the developer, they will enjoys less interest payment to the bank.

Thanks for sharing

@Jay
u r rite, i did not notice on that ..Thanks!

I saw a huge condo model at the sales galary at bayan mutiara last week. very impressive & beautiful. The full name is Tropicana Bay Residence. few units available for 872, 1300 + &1500+ sqft

What a waste… superb location but develop by super high dense developer who is good in making profit only. Don’t believe… check out their previous product.

@Jay

I think before signing the final snp .. there will be “surprise” floor plan again…
only then buyers need to decide again whether hold or drop …
may be bigger, smaller etc.
if choose to drop it.. then you will waste of the interest during this period (as you already place 5 % down payment)..

@tomyam
of course you can start applying for loan prior to snp signing. but better to get banker advice as they are on their panel. i understand developer still has not obtained their ap (advertising permit license) hence, still cannot cannot get bank end financing yet. according to dijaya sale officer, the ap probably will be ready in May and the lawyer will call the buyers to sign the snp and pay up. so meantime fd your money for two more months.

i already try few bank … ambank, HSBC, public bank …

All just can get BLR-2,4% only …. Full flexi Loan

Who can get another better loan …

@Jay,thanks for sharing.Which bank offers the package as you mentioned,FD and enjoy DIBS..?

@Ten
Approach Maybank they are on pwc panel.

abt the car park… is every level of the car park, got lift?

Sure got lifts