@Bryant

I was surprised that they mentioned they will split next launch into Block E & later Block F, Developer is squeezing every RM from purchasers. As far as RM/SF basis, the price need to commensurate with the total package, density is another factor. Block A to D has total of about 895 units which make this condo very high density.

@Bryant

Wow, so fast the price has been adjusted upwards by RM30k to RM50k, presumed probably high percentage are purchased by internal staff, probably with staff discount as well, their entry point can be easily RM100 PSF lowered than other purchaser!!

Agreed that the RM/SF should be based on total package as well as density. This initial 4 blocks plus Block E & F really make this very very high density. Upon vacant possession, there will be many seller and I doubt the price can go very high, the issue is you can ask for high price perhaps at RM1k PSF BUT will there be takers especially after 4 years there will be plenty if delivery!! Population growth, disposable income just cannot catch up with the price upwards adjustment. I personally is quite doubtful of the price escalation. However, for own stay is ok.

@funny

Maybe not from Penang, heard Chinese from China and Singaporean are buying, to then cheap lah
For speculation, finish lah

Price adjustment is paper profit. The challenge is always to materialized it.
Many factors to consider when buying a property. We hear the same topic over and over again, not just here but other property as well – location, Traffic Jam, Density, Pricing, developer’s background and etc. Every property has its cons. If there is one property that does not have any of the problems above, that property is not in Penang Island. So look at the positive side of every property, they bound to have some which attracts buyers. If you find it suitable, thumbs Up! If not, keep on looking.

CTS told me they received instructions from Ivory to start stamping end Aug / beginning Sept. 42 months from then, we will know what will happen.

What was initial launching price in term of RM/SF for 455 & 615 SF units, was it below RM750 PSF??

Property bubble will burst in Penang Island very soon, oversupply, overprice, Economic getting worrst more retrenchment, no increment, no promotion, everything frozen, more ppl going to be bankrupcy very soon, more auction property.

Wow, good news, July new home property sales drop to 65%.

@funny

Not really drop lah, is just too many supply. Looking at % might not be a good indicator, need to look at absolute numbers.

No money don’t buy. Why must buy those pigeons holes of 455 & 615 sq. ft ?

@Truth

How do u know people got no money?

@funny

funny :Property bubble will burst in Penang Island very soon, oversupply, overprice, Economic getting worrst more retrenchment, no increment, no promotion, everything frozen, more ppl going to be bankrupcy very soon, more auction property.

if happen price drop, many people will jump for joy …
may tragedy strike those greedy developers and evil speculators …

Developer won’t suffer, they just abandon the project! Who suffer? Buyers lah.

@Felicia

Why talked about 455 & 615 sq. ft. ? These are pigeons holes.

@Ken
Carry on hoping the two of you and soon you will be left far far behind and your only hope is to rent…. rent …. and rent

If 615sqft is pigeon hole, then what do you call a room (150 to 300sqft) you sleep in?
A 1200sqft unit then will be two/three pigeons hole pigeon-renovated into one?
If a couple lives in a 615sqft pigeon hole compare to a family of 4 or even 6 people who lives in a 1200sqft unit, isn’t it like pigeons sharing a bigger pigeon hole?

Not all Penangites is ready for shoebox units yet. But time will come when prices soars up high enough to accept these pigeons holes as affordable options in future. Those who witness and experienced the cost of living in High density places like SGP and HK would understand better that small means affordability with assurance of a proper shelter in their life. After all, shoebox units are meant for singles or young couple (practically).

If you cannot accept these pigeon hole and you want to stay in this place
trying to be on par with this community it’s up to you. If you have that kind
of money, you get that presentable and decent unit, that’s all. What the
point trying to squeeze in ? How you feel ? You feel proud ? I will be
embarrassed.

For low income earners they live in pigeon size (600sqft) LMC or LC units. Family of 3 to 5 person squeeze in the unit. That is all they can afford. So that is their lifestyle.

Moderate professionals who wish to have their own space with facilities at this location will definitely consider this project. As they have their own family and priority is space, they will move out to bigger units. If they move to main land, they will be considered as loser or 2nd hand penangites (someone mentioned this). If they remain in their small little units, some feel is embarrasing. I am pretty sure if these professionals move to a landed or condo with multiple pigeon hole size also be criticized… Welcome to penang property talk!

@Bryant

Agreed why discrimate those looking at 455
& 615 SF. If TRUTH cannot blend in with those who only wish for SMALL IS BEAUTIFUL, then do mix and don’t stay or should not even consider condominium comes with all sizes, big & small. Go & stay in a condo where all sizes are above 1000 SF

Guys, I found a “worm hole”. Check it out. Quite Interesting:

http://sg.finance.yahoo.com/photos/the-smallest-house-in-italy-is-architecturally-stunning-slideshow/

Architect and designer Marco Pierazzi saw the potential in an abandoned, one-room alleyway house just steps from Roman landmarks like the Pantheon and Saint Peter’s Square. He bought it, fixed it up, and lived there with his wife until their child was born. Pierazzi now rents what he calls the “smallest house in Italy” to friends, acquaintances, and tourists, making it a convenient place to stay on a Roman holiday.

I guess Pierazzi and his wife finds it nice to stay in a small cozy little place they call home.

@Truth

I find your arguement very weird, smaller sizes cannot blend with bigger sizes??then why the bigger size purchaser wants to stay with smaller sizes unit people, go stay at condo of bigger sizes, do some analysis of PWC, 455, 615 & 872 SF is easily 50% of the whole Block A to D. Those who bought smaller sizes are paying much higher price PSF than those who bought 1020 SF, do do you brand them as poor?? What if a purchaser who bought 2 or more of the smaller sizes unit, do you also brand them as cheapskate?

Please look at condo at all places, the smaller sizes below 1000 SF are selling like hot cakes!! How do we brand these purchasers??

@Pen-Condo

They don’t stay near to you, is you that want to stay near to them !!!
One of these days when you are at that level you will realize it.

@Truth

Don’t understand, who don’t stay near to who??

What level??

Why need argue at here. We just sharing at here….
All people got their own opinion….
I also live at mainland …
I buy here just want have a house can retire at a nice place …
When you want to rest … i think a small place like 800ft2 … 1020ft2 …. is a prefect area…
I buy here cause the location … the project planning concept ….
Sure got people don’t like … but, must got people like it ….

@cm

@cm

Agreed, why argue here!! Just making a point on some people comment on why discriminate people. Buying of whatever sizes is a choice and does not mean that particular purchaser can or cannot afford, also on what cannot who stay with who?? Find it very strange of weird mentality.

Understand many purchasers have not sign Sales & Purchase Agreement, lawyers are sending out Final Reminder for them to execute the S&P.

There are some units size 1045sf located between block a and b.. and there are some gardens near this units.. anyone know what are these gardens? Saw some photos during the prelaunch but I couldn’t find it anymore

As I was told, these gardens are accessible by public. In other words, privacy would be an issue as people from outside can see into your house when they hang out at the garden (I cannot recall more details).

@Bryant

Which floor?

Beside Garden don’t have windows … That is Master Room … People from outside cannot see into your house la.

@Felicia
I cannot remember. But for the units level, you can refer to the sales chart.

@cm
The privacy question was answered by the sales guy. If it is not true, then good.

they are calling for stamping to be done b4 end of august.. u guys hv everything ready??

Congrats to those who bought earlier… Developer has increased the price by RM70k from 1st launch.. Block E expected to launch mid Sept and RM50 psf higher than Blk A – D!!

@KL Lang

Block C & Block D purchasers are subsidizing Block A & Block B purchasers since all 4 Blocks ate linked.

Block E is by itself and there could be some features different.

Block A & Block B purchasers can sell immediately upon vacant possession with RM100 to RM 150 PSF margin while Block C & Block D purchasers need to hold

Read report, see below
1) Penang’s property expected to contract by double digits, according to Raine & Horne
2) contraction due to stringent bank loan conditions
3) In 2012, transactions of residential properties in Penang fell by 23%, 30,674 in 2011 to 23.266 in 3012
4) 2013 1st quarter, 15.7% declined to 4,200 units
5) Penang residential existing stock is 367,158, of which 40,843 were condo & apartment
6) till 2nd quarter 2013, 48,076 in coming supply while 45,153 units under construction
7) 46,610 units new supply in the 2nd quarter

“There is still interest to purchase properties. However, due to the high and unreasonable pricing, property investors are waiting for prices to re-adjust before buying” Dhawn Ong, Vice-President, Henry Butcherslaysia (Penang)

@Pen-Condo

Wow, heavy supply coming to market. With Penang population, cannot take it unless speculator coming in from other areas which can be detrimental to Penangites

@Pen-Condo
Sorry, some typo error
Shawn not Dhawn
Henry Butcher Malaysia

Anyone here is not using CTS as their bank loan lawyer?

the contraction shows that BNM guideline has started to impact the market.. if not, you’ll see OPR being increase, curb on DIBS, increase of RPGT and etc.. by then, those who don’t buy will get impacted as well..

I think you can use your own lawyer since legal fees for the loan doc is not absorb by developer. But better confirm with developer first. Otherwise they might forfeit your DIBS or SPA fees..

@KL Lang

I guess develepor will always have some other ways to solve those.
If DIBS is cancel, later you will see more rebate or discount in downpayment. They might just take 5k from buyer instead of asking 10% downpayment. Then the money save buyer can use to pay the interest… hohoo

@tomyam
Some developer already using this strategy by giving extra incentive for those not going for DIBS but this PWC a little arrogant, refused to listen to customer said no such system in their company. I comment is that system is man created and as such, PWC staff is not creative or forward in anticipation of market demand

@Pen-Condo

I guess they are lack of cash flow. For their case, they need huge upfront downpayment from buyer so they can pay the debt they owe PG gov.

Agree they are little arrogant, nowadays all new project normally will waive those loan lawyer fees, stamp duty etc.

But the most issue i have is their staff knowledge, call their hotline every time asking same question, will be surprise to get different answer from different people. So, sometimes when people say you better check with developer, i also feel scary a bit as what answer we get is not a final one.

just a general question, went to CTS to sign the S&P, realized the facilities are different then those mentioned in their initial promotion material, example, the cinema, convenient-store, those are now no more.. left with swimming pool, male/female changing room/sauna, playground, tennis, squash, landscaping, bbq, multi-purpose hall, management office, gym, foot reflex path, jogging path… will u guys question ivory or jus let it be??

@PWC

Haha, feel cheated??
DO not out, everything is on plan only, developer reserves the right to amend. That is their perogative

890 units at average price of RM600k per unit ==> RM534 million
Land bought at RM224 PSF, developer is laughing to the bank

Block A, B, C & D total close to 900 units, land area how big. Anyone knows??

We don’t know what is the future in Malaysia. But, we can know Penang island land is Limited. After 10 year, can we still can use the same price to get the same place at Penang Island??

Just think, 10 years ago what is the cost for a new property at Penang?

Malaysia Property cost increase ==> Ringgit Malaysia Value Drop but Material Cost is Increase

10 years ago,
1 bag cement is RM4.00 to RM5.00 only ; now RM 17.00 to RM 18.00
Steel bar is RM 1,200.00 to RM 1,500.00 ; now RM 2,500 to RM 2,800
Clay Brick is RM0.15 – RM0.20 ; Now RM0.30 – RM0.38
Labour RM25/day – RM45/day ; Now RM40/day – RM75/day
Mobile Crane is RM400/day ; now RM700/day

All the Material are increase more than 50% to 100% within 10 years.
Year by Year … Never drop, never decrease …

So, are you still want to wait DROP DROP DROP …. Just wait … another 10 year …
Maybe drop ….

@cm
But property price increase 150-200% in the last 5 years… So you are saying that Penang Property price is over valued by 50-70%???

Thank you for confirming the over valued property prices in Penang… I feel so sorry for all the people here that will find themselves in negative equity and loosing 50-70% of the value like in some European countries and the USA… As the Malaysian economy keeps getting worse and worse…

the detail for the Condo in front of TBR (phase 1B) is out already.
It has commercial unit in first 3 floor, the biggest weakness in their design is car park:-
4th floor to 9th floor is car park.
Imagine how inconvenient for the residents drive up 9 floors for parking.

Buyer of TBR now can proceed to sign the S&P! No need to regret.

@Buyer
Where do you get this info?

Buyer :
the detail for the Condo in front of TBR (phase 1B) is out already.
It has commercial unit in first 3 floor, the biggest weakness in their design is car park:-
4th floor to 9th floor is car park.
Imagine how inconvenient for the residents drive up 9 floors for parking.
Buyer of TBR now can proceed to sign the S&P! No need to regret.

YA lo .. any photo or layout …

Currency Crisis :
@cm
But property price increase 150-200% in the last 5 years… So you are saying that Penang Property price is over valued by 50-70%???
Thank you for confirming the over valued property prices in Penang… I feel so sorry for all the people here that will find themselves in negative equity and loosing 50-70% of the value like in some European countries and the USA… As the Malaysian economy keeps getting worse and worse…

Price is not over valued by 50-70% la .. i mean the Price increase … Value is depend by buyer.. But, the basic value is always increase … never come back …

Example, Basic Price RM 500,000.00;
Every Year increase 10% – 20% … After 10 year the price already go to RM 1,000,000.00 or RM1,500,000.00.
Yes, maybe economy is drop. All property drop… Drop 20% – 30% … Price drop to RM1,000,000.00.
But, it just take 3 to 5 year come back to actual price … It just depend to the Our Country economy. Except Malaysia Bankrupt

I think the layout will make public soon. will block TBR from sea view.
Will not have any seaview for Block C&D & E.

It has C & U shape, the previous comments from so call ‘asia green guy’
is true. But I have no regret to buy a unit in TBR, i like its design more then this ‘aisa green condo’ ( even it has seaview)

@Buyer

I thought infront of TBR after Block E & F is another 4 block developed by PDC or ???
Penang World City is not able to acquire this piece of land. As such, what is developed on this piece of land will determine how TBR ocean view are affected, if the 4 blocks are higher than TBR, TBR will be covered by giant structure???

Anyone has information of who is the developer and what structure will be built there, what website to check ??

@Buyer
Were you informed on when they will launch these phase 1b? Is it residential title?

Any idea when the s&p will be stamp?? I called to Ivory and the staff still say end of the year. Is it true??
The banker told me Chow TAt Seng is the lawyer for S&P so they will charge lower for loan agreement compare to other lawyer firm. More discount provided. Anybody got the quotes to compare??

@Buyer
Complete picture of phase 1B please,
Phase 1B is after the 4 Blocks by other developer?
Any linkage for phase 1A to phase 1B?

Time flies. . it has been 6 months since we booked. TBR pricing now look reasonable .. Loft is 1000psf, light linear hitting 700psf, tropicana branding is getting stronger in KL with tropicana gardens at 1200psf and the further tropicana metropark at 750psf.. 218macalister will be 950psf above… interesting to see how they will prove block E

@pwc

In term of PSF, what was the RM/SF you bought, presumed Block Air Block B
Block C & Block D prices were from RM650 PSF to RM850 PSF depending on unit size.
What is reasonable?
I think RM/SF price need to take into consideration of the following
1) Location
2) Density
3) Unit size
4) Facilities
5) Parking lot allocated plus no of visitor car park
6) Amenities in the vicinity
7) Workmanship
8) freehold or leasehold

@Jj

I call CTS and other lawyer.. CTS told me they give very good discount which is 50% , but the final price they quote is still far more expensive than the outside lawyer firm, difference near to 2k(Ok, not those big big firm like sun associates, is those local Penang lawyer firm)

Since CTS always tell me they provide very cheap in market price liao, i for sure will call back them again asking for the final price and quote them the price other firm give.. let them help me to do the final decision.

@Jj

BTW.. it is surprise that your banker told you in this way.. at least your banker should help you get few quote from different lawyer firm, shows they are doing some work.

I get few banker help me to get quotes, they are able to help me get more than 1 firm is getting lower quote. But again, if the quote is slightly different, we can get back CTS for easier manage, if it is quite high in difference, they is another story.

@Pen-Condo

i guess from start developer already told us no seaview(sad..).. but i guess the new 4 block wont be higher too much as that area got height limit for building as near to airport.

Not 4 block. Is only 2 block.

@tomyam
So sad, paying sea view price but no view except concrete view.
Hill view becomes traffic view

@buyer
Please clarify, picture / brochure shown 4 blocks after Block E by other Developer

The brochure is not the actual design.

I guess the 4 block consists of 2 block right in front the A,B, C, D and another 2 block which will reclaimed in future.

No need to over analyse. .. this is Tropicana Bay residence, the first phase in a huge Penang World City development.. always go in during initial phase..There will be many upcoming launches and we shouldn’t over worry how they will look or price..If market crash, developer will just postpone their future launch.. use The Light and Sri Tanjong as reference

@Pen-Condo

It is true I really feel the price is expensive, but seeing how all these developer price their unit, I have no confidence that in future i can get a good location, seaview, freehold unit 500k for new launch unit >_<

@tomyam

Everyone is concern on affordability.
For RM500 to RM600k is a reasonable entry level but in term of RM/SF is on high side but then what can we do?? Developers are capitalizing on this market madness – you don’t buy, others will buy attitude.
Well as long as quality & workmanship are above average or excellent, then the price will be justifiable. The most worrisome is the Management Corporation; would it be well managed??

I am willing to pay the price due to the location, the development idea of “Penang World City” and TBR is located on a land, not reclaim land. Not that I have any against re-claim land but it is just my preference. Initial launch will always be cheaper then future ones. Today one will feel it is expensive, but time will change your mindset.

Looking forward for the completed development hub by 2020.
Also looking forward for phase 1b.

TBR is reclaim land as well, so is Queensbay and everything else along that shorefront.

Really? Interesting. Must have been really long time. Any idea when was it re-claimed?

@ho

Look like land at Bayan Mutiara was an abandon project now revive by Tropican and Invory joint venture?

Tropicana & Ivory – sorry typo error

I remember the reclaimation done before 1997@ho

More than 15years already.. Oh well, no regrets.. still freehold 😀

@cm check wt ivory not true. No retails allowed & no such high level parking as well.

yk :
@cm check wt ivory not true. No retails allowed & no such high level parking as well.

? ? ? Are me comment about it ? ? ?

@cm

No of parking lots are essential be it residential or retail
For residential, besides allocated parking to unit owner, there need to be sufficient visitor parking lots. Otherwise, where are the visitors going to park?? Total of 890+ units for Block A to Block D, assuming 20% visitors all with cars, 180 visitors car parks are needed, anyone think Developer will provide such big number?? I don’t think so.

For commercial or retail, should number if car parks are not sufficient, how can the retail or commercial operators expect to have sufficient number of customers.

Unless developer has other alternatives??

Developer said the draft snp is already sign, have anyone of the buyer haven get the loan ?

@Jason
The most important is has the development order been issued??

Bryant :
I am willing to pay the price due to the location, the development idea of “Penang World City” and TBR is located on a land, not reclaim land. Not that I have any against re-claim land but it is just my preference. Initial launch will always be cheaper then future ones. Today one will feel it is expensive, but time will change your mindset.
Looking forward for the completed development hub by 2020.
Also looking forward for phase 1b.

Wow, really an ignorant statement. The whole stretch starting from the current coastal highway is a reclaimed land!

@JT
Yalar Yalar..now I know already…
Maybe you can share something you know which we all don’t.

Guys, as you know the condo in front of TBR will be develop by AG. But The Clovers seems to be delaying for so long already (by AG too). Anyone knows what is going on? Would be good to know for those who is considering this future AG condo.

@Jason

get loan approved but not sign..
all banker is trying to appeal or get better offer or better tnc in different way

I get the Bank Loan long time ago. Already sign …

Any detail? Have they launch?
What is their selling price?

So far Maybank Islamic the best. Blr – 2.45 with zero lock in. Contact banker Mavis, 0125151341, can quote my name mr tan

@Sag

Has anyone try AIA? Is fixed rate, no BLR-2.xx%. Long term no subject to BLR fluctuation. Just imagine if BLR goes up to 8 and above, the interest shall be easily 6% and above!!’

@Sag

I guess is by profile.. my maybank officer confirm can’t get -2.45 for me. AMBANK is offering -2.45 too but with some tnc which will cause it not that flexible and with some additional cost like MRTA become compulsory.

I notice the loan lawyer fee after getting more quote, is getting cheaper and cheaper. But looks like most people here taking CTS.. which makes me a bit worry if very less people taking lawyer firm outside.

@Bryant
Victoria Bay will be launching 3rd week of December this year. Starting RM900/psft!

lol :
@Bryant
Victoria Bay will be launching 3rd week of December this year. Starting RM900/psft!

Your company have been delaying the launch a few times. Is it because of financial concern?

how u know?news from asia green?

@JT
Not financial concerns. Just change the architect and redo the layout. Plot to density ratio to avoid building LMC.

@lol now can register vb?

@lol

What is the min square feet and is it freehold?
Do public have the opportunity to get select unit or probably will facing the bulk internal purchase issue like PWC Block A and B issue?
One floor up add how much?

@lol

Where is VB located?

sorry guys i cant reveal too much. Unless you guys want to get me fired…..

Thank you for the information.
Do keep us updated if the planned launching date changes.
Though, I have only one question, what is the smallest size unit with sea view?
Appreciate it if you could share this info.

@tomyam
In addition to CTS quote me the cheapest, I feel that it is good to have all the legal stuff under the same lawyer for convenience and ease of communication.

@Bryant

Yes. But is good that all people can go to get quote with lawyer outside, then call CTS to do a bargain.
At least you know the real market rate is in where. The default price is higher.. few hundred buck different still can consider.. but near to 2k difference is huge
I will continue to ring them until they can gv me really good discount.. haha.. i also wish to let CTS do to prevent any headache upcoming issue.

@lol
Give you personal email, maybe can PM?

@islander_ori

Hi,
Not sure whether you mention before, how much sf unit you are taking? you get the block AB or CD?

615sqft, block D

@tomyam

@islander_ori

How much?? RM /SF
Unit 5 of unit 6??

550k

@Pen-Condo

@islander_ori
Congratulations !!!! Wow, great, almost RM 900 /SF !!!!

Any one managed to grab the 455sq ft studio during 1st day launching price of RM300K+++?
Briliant if you did 😀
Low entry to high end condo!
You should keep it. At this low entry cost, you will never gain access to high end luxury condo 😀

@Kathy
AT RM 660 PSF??
615 SF units & 872 SF units were sold at what price?

When hand over, Block A & B purchasers can flip while Block C & D must wait?

@Kathy
Good buy !!! Block C & D, 455SF was easily RM200 PSF higher than Block A& B for similar size

Pen-Condo :
@Kathy
Good buy !!! Block C & D, 455SF was easily RM200 PSF higher than Block A& B for similar size

dont simply hantam, block C and D never have 455sqft studio suite…

A sucker is born every minutes…

Kathy :Any one managed to grab the 455sq ft studio during 1st day launching price of RM300K+++?Briliant if you did Low entry to high end condo!You should keep it. At this low entry cost, you will never gain access to high end luxury condo

Do you know if that 300K++ pricing is after or before further discount (if any)?
Also what was the price range for that 455sqft on 1st day? 300 to 350K?

@Bryant

Most of us even do not have the opportunity to view block A and block B price list :p
I heard my banker said recently many ivory staff contact him to get housing loan, most of them are Block A/B buyer. They did not get much staff price actually, just a slightly discount and also the opportunity to get Block A/B then normal user.
He also heard the rumours for upcoming block E does not have many small unit(studio) but more focus on big unit.

I bought 455sft unit at level 8 for rm330k

@tomyam
@Bryant

early bird for Block A/B got 3% discount plus 5% rebate from 10% downpayment, isn’t it?

@sam
330K, before or after the discount + rebate (3%+5%)?

@islander_ori
It is correct on the discount+rebate for early bird.

@tomyam
It is true, when I first saw the sales chart, the entire BLK A and B units fully booked.
Slowly some units reappear and was available for booking. Normal excuse was early buyer changed their units and etc..
Even some units in BLK C&D were blocked intentionally..but released later for sales on the 2nd or 3rd day (Cannot remember exactly). I was keen to get a unit which just released in BLK D but I missed the chance because I took a day to think and when I came back the next day, the units were taken. It happened that there were some units released for booking at Blk B, so I took it. Afterall, the additional 3% discount kinda worth it.

After discount. Final price rm330k

Good buy! Do you plan it for investment or own stay?

Bryant :

Kathy :Any one managed to grab the 455sq ft studio during 1st day launching price of RM300K+++?Briliant if you did Low entry to high end condo!You should keep it. At this low entry cost, you will never gain access to high end luxury condo

Do you know if that 300K++ pricing is after or before further discount (if any)?Also what was the price range for that 455sqft on 1st day? 300 to 350K?

My brother told me his friend bought a unit at RM306K, which floor i dont know 😀
His family is a main /loyal supporter of the developer, bought U Place, Penang Times Square etc, etc and even have a unit at the Super Excluisve/Expensive Moon Light Bay 😀
And I think any unit is a good unit so long as you manage to get one, that location is superb and some more it is 1st phase. 10 years down the line, when the whole area is fully developed, people will really appreciate this Project.
Ignore people who does not share similar sentiments, after all, every one is entitled to his/her opinions ;D

@Sam
that’s a very low price. .I recalled public went in on 2nd Feb and 8flr was about RM342k net after 8% off..repeat buyers book a day earlier ie 1st Feb and price was cheaper but there were limited units released. .you booked on 1 feb ?

@pwc

In term of RM / SF is still very much cheaper than 615 SF units at Block C & D.
When hand over, Block A & B can sell happily while Block C & D purchasers still have to wait.

Let pray the proposal by National House Buyers Association (HBA); 31 August 2013 The Star – Land & Properties page 22 & 23 does not materialize. Read it yourself to make judgement and let hope Government is not cranky enough to adopt!!

@Pen-Condo
Can you share your calculation?

News from property guru:

This year’s second half will likely see more property launches compared to 1H2013, with affordable and smaller units as the new trend, according to the latest survey of Real Estate and Housing Developers’ Association of Malaysia (Rehda).

Notably, 63 percent of the respondents indicated that they will have product launches over the next few months, with 18,181 units in the pipeline, or up 11 percent from the first half.

The survey also showed that smaller and affordable units will likely emerge as the new trend given the decline in landed property launches from 53 percent in 1H2013 to 38 percent.

“There are more strata property in upcoming launches in the second half of 2013, with 15 percent increase in numbers compared with the first half, coming from Kuala Lumpur, Selangor, Penang and Johor,” commented Rehda president Datuk Seri Michael Yam.

“This is because as property prices go up, developers have to shrink the unit sizes so that the absolute value is within the reach of first-time homeowners and young professionals,” he explained.

Although two- and three-storey terrace houses were the most sough after property types in 1H, apartments and condominiums are expected to take the lead in the coming months.

Over at the commercial segment, SoHo (small office home office), SoVo (small office versatile office) and SoFo (small office flexible office) units will account for 48 percent of the upcoming launches.

@ 306K for 455sqft, it’s RM672psf..
@ 550K or 522500 (after 5% rebate) for 615sqft, it’s RM850psf.
So much difference between early bird on Blk A,B vs Blk C and D.

But I think this is ok, small units trend is picking up, which is of course more affordable for future young generation in years to come compare to bigger units. Furthermore Bayan Mutiara location is definitely ok too… So small units investment will be fine.

Friend of Kathy’s brother bought 415sqft unt with 306k but no floor info.

Quoted sam’s comment: 8flr 415sqft (after 3+5% off) – 330k net. – 795psf

Comparing 615sqft unit from Block C/D at same floor (before marked up)
Price before rebate: 523k – 850psf
Price after 5% rebate: 497k – 808psf

So, that is 13psf cheaper for early bird on BlockA/B.

From the above sharing, it seems clear that there has been 2 price hike. .eg. Price after discount low floor 455sf. .
On 1st Feb for vip buyers 306k, on 2 Feb increase 10% to say around 340k, then in May increase 50k ie 390k onwards..in fact current high floor are above 400k net…wow imagine those who managed to buy on 1Feb or earlier, paper gain 25%

@Kathy
I think he got it at that price because of loyal supporter.
Whatever price on the sales chart, your brother’s friend could have got it 10% cheaper.
Even early birds do not have this priviledge. Only insiders.
That is by far the lowest psf range ~ RM670psf (that is known to me).
Excellent!

We will see subsequent launches to be priced way higher. And I expect that people will still grab those new launch units at higher price. Eventually TBR phase 1 will sold out – because it is cheaper (if any units left).

@islander_ori

RM330,000 for 455SF is RM725 PSF. Is RM83PSF cheaper than 615SF

@Pen-Condo

READ the proposal by National House Buyers Association (HBA); 31 August 2013 The Star – Land & Properties page 22 & 23. Wow, unbelievable!!!

RPGT back to normal, for 1st 2 properties
– 30% 1st 2 years
– 20% 3rd year
– 15% 4th year
– 5% 5th years

3RD PROPERTY
– 30% within first 10 years!!!

Stamp Duty
– 5% for 3rd property
– 7.5% for 4th property
– 10% for 5th property

@Felicia
In addition, DIBS removal is proposed as well.
Good luck to housing Indistries if implemented.

@Pen-Condo
Just wondering, have you bought a unit in TBR? Or do you plan for the next launches within that area?

anyone get any information about loan may leave me a email at my email. jason.hor@myukg.com. im from ocbc and i had been doing few of the loan cases from this project.

@Bryant
Committed.

@Felicia
Committed? At what price?

I am closely monitoring next launch.

Felicia :@Bryant Committed.

Which unit size/blk/price you booked?

@sam

wow.. really good price..
you are really lucky.. that is my original dream price!

Passed by the site just now.
Saw trees have been chopping down, land clearing started.

someone posted 615sqft for 625k….. can sell now?
www.mudah.my/Penang+world+city-23118554.htm

The project havent start yet, 100% not sold out yet, someone here say just saw the trees chopped down but the property already in sub sale, what happening.

@coco
definitely there is some undertable or premium asked for that…..

@coco
Lodge complaint to Ministry of Housing

@islander_ori
If sign Sales & Purchase Agreement, sure there are clauses do not allow resale until completion. Even if allow to sell after signing S&P, consent from developer is Required. Perhaps there are cases where internally reserved …… and to make some fast buck.

@islander_ori

615 for 625k at now is not cheap. i wonder the buyer just saja put up the advertisement? (psf 1016 ler!!!) i saw similar advertisement months ago, might be post by same person.

In this case can i sell for 800k for my 872 unit? :p (917 psf still lower than 1000.. hahahha… really day dreaming.. )

@tomyam
@islander_ori

I personally think 625K is nego to 615K. This means ultimately a gross target of RM1Kpsf.
Maybe not today or tomorrow. Perhaps in 2017, when RM1Kpsf is an acceptable figure.
So you guys knows roughly the minimum future selling price? haha.

Anyway, havent stamp the S&P so still got chance to “let go”.

i do not want to get in triouble ok with developer ok, u too know what happening in malaysia now. Hahaha
@Pen-Condo

@Bryant

Can sell at RM1000 PSF lor, better let go if permitted, take the $$$$ to buy next phase, better view

218 Macalister soft launch yesterday at RM10xx to RM1,1xx PSF, lower floors <21, all SOLD!!!!, higher floors going very fast!!!!

@Pen-Condo
Have you bought a unit in TBR? or you prefer coming launches (BLK E)?

With the pricing of 1100psf at 218macalister and also selling fast. . it makes TBR look cheap now altho it is not direct apple to apple comparable. . anyone know how many units left at TBR?

@Bryant
Depends on how Block E pricing, facilities, etc.
Prefer fronting sea if there is a choice

pwc :
With the pricing of 1100psf at 218macalister and also selling fast. . it makes TBR look cheap now altho it is not direct apple to apple comparable. . anyone know how many units left at TBR?

Cheap and affordable huh?

Even The loft also seems reasonable. Wait till the 10% price hike comes then expensive now will be normal then..

islander_ori :
Passed by the site just now.
Saw trees have been chopping down, land clearing started.

You must be hallucinating. Trees and bushes still there.

@Pen-Condo

I also prefer sea view but budget not allowed. Else, i could say that is consider 100% dream house..
Good location , good view, freehold, near working place, near shopping mall and future the general concept for PWC.

Nvm, let this a starting point, I am sure one day in future I will manage to get a seaview unit. Hahaha

@pwc

Actually what is the selling point of the macalister project? is it they will help buyer to rent out the service apartment etc? sure got some selling point that attracts buyer get it for that price right?
If all comes with fully furnish and reno and plus got management help to rent then is good.

@tomyam
Positive thinking, excellent!!!
I saw someone advertised 615SF for RM640,000.00 with condition that buyer surname must be “NG” – guess someone is withdrawing.
mudah.com

@tomyam
Perhaps next to Loh Guan Lye hospital is an added selling point??
Malaysia becoming health care specialists for South East Asia bring all types of diseases, Lynas is fatal enough…haha

@JT
I passed by through LCY expressway.
You cannot see it if you pass in front of the sales office.

@islander_ori

I was there during Hari Raya, saw some clearance but not a complete construction clearance, perhaps some wood are taken for cooking purpose?? haha

@Pen-Condo

Oh.. then must all buyer hire 1 uncle/aunty there to help to collect the daily rental. Heard those owner of mewah court (new lam hua yii) is doing so n collect $$ till very happy.
Let say one day Rm40 for each room, 1 unit already RM120, if 20 days can rental out at least RM2400 per month. But heard those patient family members is very bad in take care the house condition, all will become rojak end of the day.

Paying higher price to purchased house, afford to buy 0.5million property and plan to rent out for daily basic to collect $$ less rm50 daily, very smart businessman. Sound to me like “richman begger”.

Pen-Condo :@Bryant Depends on how Block E pricing, facilities, etc.Prefer fronting sea if there is a choice

I think Ivory is revising the pricing again prior to launch this month for BLK E due to the current news of 10% increase.
According to my record, the cheapest psf range for current BLK A to D is RM620psf (I refer to the price list I took in Feb). With the 50K increase of price couple of months ago, that increase the psf by ~RM50. So lowest psf now shall be RM670psf. With 10% increase, BLK E will start from RM730psf minimum. This is the best case on the lowest psf pricing for BLK E (Just my quick calculation).

Even Victoria Bay will start selling from RM900psf, I think now will be Rm1K psf.

If Budget 2014 impose new ruling to curb property price from rising rapidly, you can expect additional expenses like Additional stamp duty and etc. This will make multiple property investment difficult…

tomyam :@Pen-Condo
Oh.. then must all buyer hire 1 uncle/aunty there to help to collect the daily rental. Heard those owner of mewah court (new lam hua yii) is doing so n collect $$ till very happy.Let say one day Rm40 for each room, 1 unit already RM120, if 20 days can rental out at least RM2400 per month. But heard those patient family members is very bad in take care the house condition, all will become rojak end of the day.

Make the rental higher. A good benchmark will be the hotel there (still marriot?).
Anyway, whatever they are charging per night, just change half of it. But of course, they dont expect services like hotel with daily room service and etc. But seriously the unit will be run down really bad. The worst is if the patient passed away in the units. Pity..yes…but eerie im my opinion.

@Bryant

Agree… Also feeling horrible if got those issue face in future.

@Bryant

Your Victoria 900psf is based on an anonymous source called “lol”? Haha.

@JT
Not to say I trust him, but 900psf is a figure I’d say logical for a seafront property for now.
Anyway, it is not fix 100% for all units at 900psf.

QuayWest Residence has been posted.
Min. size 850sqft x 700psf = 595k

TBR Block B 872sqft lowest floor, 591k (677psf) before rebate.

QWR – Each unit to come with 2 car parking lots.
Can Mr “lol” confirm this?

Bryant :
@JT
Not to say I trust him, but 900psf is a figure I’d say logical for a seafront property for now.
Anyway, it is not fix 100% for all units at 900psf.

Seems like you trust the wrong person

@Bryant
I wonder how this JV partners cooperate, the 55% majority is like Taiko and dictate everything while the brother has little say.

@Felicia
Not that bad. But more like the Taiko get to decide new things except for initial arrangement which was agreed upon when sign contract. Whatever it is, lets hope they made penang world city a success.

I wonder how & why Ministry of Housing allow Developers to sell & collect deposit before obtaining AP & DL??. Something coming in the coming budget??

@Pen-Condo
They also want to cari makan mah….

@Pen-Condo
Developers did not sell. Instead we (buyers) offer to buy. So we offer to purchase instead of the normal process where buyers will receive options to purchase the unit when they place their bookings on approved projects. That is how very early bird buyers seal the early bird price, not until when APDL approved and prices would have increased by 50K in TBR case.

This is practice in KL a lot. Unfortunately as someone mentioned in QWR, bulk buyers even booked up smaller units at cheaper pricing even before we heard of anything about QWR being launched or opened for public booking because it is not opened for public yet for Blk B. Unsure whether QWR’s APDL is approved or not as well.

@Bryant
In TBR case, immediately after CNY booking, price adjusted up. Few months later, adjusted again by RM50k, but no one from public is awared that APDL is approved??!!

I believe after CNY booking, prices remains. Just that discount got lesser. (I maybe wrong)
That is why you may have the impression prices up. But i do not know what other discounts were given on top of the 3+5%.
I myself were skeptical about parking my dpymt with the stakehoders. Anything can happen. But some of us believes in the JV and the plan for PWC. So its not just a small company with no track records running this deal on a single standalone project. PWC is simply the attraction near to seafront. Take it or leave it. Buyer’s choice despite whatever APDL or approval needed. You dont buy, others will buy and I am sure investor club could have taken a bulk of TBR as well.

@Bryant
Precisely because of investor club buying in bulk with special incentives, driving prices up. Also because of “You don’t buy, others will buy” is driving the market crazy.

Just imagine, what if government impose DRASTIC RPGT measure, plus heavy STAMP DUTIES, removal of DIBS. Genuine buyers will definitely suffer!!

@Pen-Condo
In addition, should prices maintain or stabilize at buying price, worst scenario, decline! Investor club members still can liquidate at margin or perhaps at cost, genuine buyers will be forced to sell below cost should holding power is nil!! I hope such scenario won’t happen.

I would like this investment club, any idea how to get in touch with them?

@Johnny

haha.. many investment club in the market. got AZEA, another one is mandarin base gavin xxx one which always in tv one. (but i dunno which one sapu all this project.. or may be just rumours.. actually all purchase by insider only)
Just prep at least 3k for the joinining fee to entitle basic member fees. If you want more value information, can pay more to up level. up level means you are given more kangtao and 1st hand info.

@tomyam
That is right…nothing comes for free. If such a club can sapu 50 or 100 smallest units at Quaywest Residence, imagine the discounts and behind the scene ageement between the Developer and the club. It will be way much cheaper. WIN WIN situation. Guarantee sales for developer, guarantee more discounts for investor club. Every units sold after completion means some amount of profit to every investor in that group. Bulk purchase by groups means lower dpymt too.

Try this investor club

MasteryAsia (M) Sdn Bhd
7-3, Jalan 8/146
Bandar Tasik Selatan
Sungai Besi, Wilayah Persekutuan Kuala Lumpur 57000
Malaysia
+603-90596488

What happens if the government during upcoming budget announce no more DIBS and 3rd unit loan margin 60%? Since this project has no APDL yet, they can cancel previous booking and relaunch?..or imagine if no more dibs and they still keep price level? The developer better hurry up to get the approval or else there are many uncertainty

I heard some bank start to sent letter to notify loan taker that there will be increase in interest rate very soon, our ringgit getting weaker and bank need to incresed rate to survive economic crisis in asia country. So dont over commit, subsale property market will be affected too.

@jo

When interest rate goes up, stock price will definitely go down. Fatt Tatt already.

@jo

I thought Bank interest rate must be follow Bank negara annoucement? As long as there is not increase for interest rate annoucement from BNM, Bank should not do it as it will let the approval rate for loan will also affected.
But i guess down the road few years, once the inflation rate up up up, we can’t escape from the increase of the interest rate. Once up, the impact will be seen very fast as people have less $$ to spend.

I think interest up means no longer BLR-2.4%. Probably BLR-1.5% or even lower. That is on the bank side. But BNM then may increase the BLR rate as well.

Latest news, Malaysia property price rising faster than Singapore.
RISING %rate
No rate
1 Dubai – 21.7%
17. Malaysia – 6%
26. Singapore -:4.5%

Something wrong?

No more DIBS, developer will definitely device another to attract buyer such as DBYI – Developer Bear Your Interest, just like 5/95, 10/90. The selling prices already incorporated interest during construction period.

Anyone buying into 218 Macalister??

Ivory on its own, selling price is low, JV with Tropicana, selling prices become so high??

Any information of TBC balance units for Block C & D, plus any information of Block E??

@Bryant

Noler.. i thought once loan agreement is sign, if -2.4 means forever BLR-2.4
the changes is on blr
now BLR is 6.6 but future might be 6.7, 6.8 like that.. means total interest rate we pay getting higher.
Anyone is borrow fixed rate loan?

@tomyam
You are right.. After sign, we’ll lock the -2.4% rate and at the mercy of BLR fluctuations.
Earlier I meant if interest rates up, so possibly either BLR up or -X.XX down.

@Felicia
Heard those phase 3 of PTS is selling above 1mil for balance units. Is that low to you?
Maybe the units are bigger and selling psf is lower. But then, how to compare? two different location and concept. I am not denying tropicana influence as well, but Quaywest, a direct comparison beside TBR is selling around the same psf as a single developer without JV. Can accept this comparison? Maybe seaview mark up the price which turns out as good as Ivory JV with Tropicana?

@Bryant
What price RM/SF is QueyWest selling?

Hi.

May I ask if anyone here managed to get a Block D high floor unit 1,2, 3 below RM700 psf?

Thanks.

just received call from developer informing me that the AP & DL has been approved and can sign SPA anytime. BTW, my units is on the 22nd floor at RM730psf net.

@Pen-Condo
From RM700psf for BLK B. But BLK A to be launch in Dec. psf could be higher since all smaller units in BLK B is gone.

@KL Lang
I was told once APDL is approved, Dijaya/Ivory will then assign the car park to every units. If you get a chance to speak to someone from developer again, maybe you can ask about this matter as well.

@Ask

wah.. lower floor already > 700 psf, how can high floor lower than 700 psf? unless staff buy .. hehe
**if you calculate the price after discount, this is possible for those floor like 4, 5.