Price? sqft?
So many property in Penang, good or not?
Good to maintain property price…?

Lai lai sapu

how much per sqf? when will launch?

how many sqf? how much per sqf? when will launch?

Lai Lai Lai sapu, Is condo again.

that area fully crowed by ideal property.

@sapu sapu

you sure bo? market so bad, you are waiting eat lap cheong liao

when launching? wht is the sqft? price?? there are so many condos waiting for buyers and the demand already go down looking at current economical situation… better invest in mainland since more company is setting up there.

Many properties launched, but price is uncontrolled.
Not everyone affordable to buy.
Need to control purchase price.

surprisingly the price from 800k onwards.

haha 800k rebate 200k? still got investor dare to invest? many subsale only around 500k, for stay affordable house below 400k only.

Indicative price from 570k but ready unit from Elit Bayan & Golden Triangle is also asking around this price or even cheaper!

I’m interested for this project. Kindly provide more details for the above mentioned projects. Thanks.

hmmm.. not worth to invest with this price.
Penang so many properties now.
Subsale even cheaper

Hi, im interested for this project. please pm me more details, thanks

detail pls

please send more detalls

@Penang worker
Go ahead then…nobody asking you to buy

@logic
lol…ideaL staff? could be the manger or the boss who commented this. No need to hide la, Cheap price happens for reasons la. oversupply d la. i warn you guys who ever thinks the price in that area still can boost you wait 10 years la. better get rid of whatever properties you have in that lousy area before u cant sell off in future. Especially highrise condo.

everyday can see planes up & down, enjoy thunter sound surround system. hahaha

only 1,100 & 1,200sf available, rental subsidy of 20K, free 2 car parks, 0 documentation cost

Hi, anyone interested in a unit, kindly call 0124278545 ya

Hi….i have booked a unit in summerskye last week. May i know anyone else booked a unit as well? I am excited. Hehe.

@panda

Hello Panda, I have booked one as well. 1,200ft
what about you?

@skye
Mine is 1100 sqf. Tower 1b.

@panda
I booked 1 unit as well. 1100sqf

Actually is the price consider expensive for this project?

@1stTimeBuyer,
For me, the price is acceptable and affordable.
I am buying for my own stay.

Fyi, get to know All project from Ideal Property, upon completion there will be gangster contractor force you to take up their renovation service or else need to pay so-call “sampah fee”. They charge ridiculous price. Many owner of Ideal Property is facing this issue, and the developer didn’t help to solve this issue, worst still allowing them to set up a booth in the building. So think twice before make the choice to buy their project.

@Iambroke

Most of the Penang projects have “sampah” fee. It is unfair to single out Ideal.

I own a unit at Fiera Vista and the sampah fee was reasonable i.e. RM300. The renovation fee was also reasonable so I had them do it. I am very happy with their work and professionalism.

@John
I believe a lot of owners from Ideal Property are facing this gangster issue. Just to share info with all those new buyers. If the buys are happy with the “sampah fee” and their services then just go ahead with your choice.

This “gangsta” contractors are in most of the condo projects in Penang. Let’s not single out any particular developer. It is a very childish behavior!

@Iambroke

I talked with Ideal sale marketing manager and she said for the coming luxury condo include Summer Skye, for sure will no have gangster contactors any more. Ideal management are aware of this gangster contactors and no good to have them and will spoilt Ideal reputation while there are many upcoming ideal projects to launch after approve by penang housing state government.

If you got any info about Ideal’s gangster contactors you can write a letter to penang e-perumahan to complaint the developer.

The summer skye condo price will hit RM1 million next 3 years for 1200 sqft.
Good location with schools, air port, retailing shop lots and future sky train (LRT) from Komtar to Airport.
More foreigners are consider to buy property in Penang.

@Man Ji Lucky

Prepare to fail if price at RM1mil for 1200sqft.

@Clover

My UK friend, John talked to me before the penang property RM1 mil is cheap (around ~ £158k). Their annual salary for an senior staff is around £100k (Education Sector in UK).
It’s really cheap for them to invest penang property.

I am more interested selling property to foreigner as Malaysia currency is weaken now and next few years more.

Based on Penang property study from 2009 to 2014, average increase for island is around 197%.

But due to uncertainty of world wide economy, prediction the penang island property price average increase will be less than 100% for 5 years. But for sure it will possible increase 50% for the coming 3 years.

It’s still no regret to buy 1 Summer Skye Residence for investment.

Don’t miss the opportunity as penang housing price will increase further.

Man Ji, what is your real name in Ideal sales office ? you are doing hard sales to con. lousy job worst than the Ideal gangster contractor.

Man Ji Lucky :@Clover
My UK friend, John talked to me before the penang property RM1 mil is cheap (around ~ £158k). Their annual salary for an senior staff is around £100k (Education Sector in UK).It’s really cheap for them to invest penang property.
I am more interested selling property to foreigner as Malaysia currency is weaken now and next few years more.

Do your homework please, yes foreigner will invest in Malaysia / penang. But definitely not in south-west district to buy this SummerSkye. Their preferred choice will be north-east district, or QB area.

@Low Yat
The ideal upcoming new property at QB area – Queens Waterfront Residences.

It’s also an attractive property to invest. Don’t miss this opportunity.

@what_when
The north-east district property price double compare with south-west district.

Now Foreigners are smart and they knew north-east district property price will hit saturated, it’s no worth to spend too much money there. They will put money to invest south-west district where got room to increase. The south-west district near airport and has better transportation linking.

@Man Ji Lucky

You tried too hard…

@pop
“Nothing is impossible unless you think it is.” (Paramahansa Yogananda)

Man Ji Lucky :
@pop
“Nothing is impossible unless you think it is.” (Paramahansa Yogananda)

Trying to hard sell all the Ideal projects? Please get a life and accept the fact that property market has soften. Even the neighboring project “Fiera Vista” is now cheaper than Summerskye Residence. Fiera Vista is now selling at only RM620K for a 1,450sqft built-up versus Summerskye which is selling at RM600K for a 1,100sqft built-up. Would a buyer go for RM427/sqft or RM545/sqft? It doesn’t take a rocket scientist to figure out which properties to purchase.

Man Ji Lucky :
@Iambroke
I talked with Ideal sale marketing manager and she said for the coming luxury condo include Summer Skye, for sure will no have gangster contactors any more. Ideal management are aware of this gangster contactors and no good to have them and will spoilt Ideal reputation while there are many upcoming ideal projects to launch after approve by penang housing state government.
If you got any info about Ideal’s gangster contactors you can write a letter to penang e-perumahan to complaint the developer.

So you are saying Fiera Vista is not a luxury condo? And of course every developers including Ideal are aware of GC setting up booth and monopolizing renovation. You think they are dumb? They are allowing these blood sucker leeches to suck all the first time buyers hard earn money so that they can get a cut from it too.

Also stop wasting your time complaining to Jagdeep Singh, this GC issue has been long overdue. If he would have look into this issue in a serious manner, then we wouldn’t have GC roaming around every new projects completed by now. This GC issue has been brought up a few times in the news headline back in year 2014 and Jagdeep Singh “promised” to settle this GC issue back then but as always he is a politician at its best. No Action Talk Only lar!

@Confirm
Yup, you are right. The investors have their own points to evaluate the property value they needed.

For sure, by calculated RM545/sqft, “Fiera Vista” has high cost (1450×545 = RM790.25K than Summer Skye condo (RM599.5k). But location and convenient view, Summer Skye condo is far more better than “Fiera Vista”. This is why ideal selling at RM545/sqft, it’s Summer Skye condo value.

@Confirm
Agreed with you.

We can’t compared Ideal developer with SP Setia and Mah Sing Developer. Definitely Ideal developer is not 5 star developer as it no able to compete with other world wide developers which have business oversea.

People power and voting and can make Jagdeep Singh no just talk and have to take action one day soon. If he no able to rectify this GC issue, nobody will support and voting him in next election.

Below is the contacts for penang state government officers.

https://www.penang.gov.my/images/InfoPantas/DIREKTORI.pdf

@Iambroke

I own a unit in One Imperial, also a victim of this gangster contractor charges the over price renovation costs plus sampah fee. Ideal property totally ignore the complaint, the management company appointed by them allowed the gangster contractor to set up table at common area, allowed them to blocked the in coming of outside contractors includes delivery of furniture if the owner not paying sampah fee..

@DO
Feeling sad to hear from you on the gangster contractor issue.

How about do you feedback to any Ideal Property Sale Manager on this issue?

When is the Joint Management Community for One Imperial forming?

Need to find a way to stop this gangster contractor issue.

Gangster contractor is an easy issue to solve today, only pea-brains like you guys are still struggling with it.

@kayabun
You got any better suggestion to solve this GC issue?

All folks would to hear from your good suggestion other than comment like C2Pig.

@Man Ji
For condo with shop offices, the price cannot shoot up fast, look at Golden triangle, we know the story already;nonetheless, 1 floor got 13 units how to consider as “luxury”?

If you want luxury condo, look at Raffel Tower @ Gelugor, now people start selling 1400 sq ft with 840k (average price about 600 per sq ft). 5 years later, i can guarantee you, the price wont exceed 750k, The Peak @ Tanjung Tokong s a very good example.

@ryu
Golden triangle is difference and it’s located at very congested area, if you work for bayan lepas factory, you have to use sg.ara road from relau. Golden triangle really has luxury amenities surrounding and easily to access shop lots, the selling price will shot up and it’s depend on how much profits your earning target. For golden triangle example, when first launch bought at RM280 per sq feet and now up to RM550 per sq feet. If you bought at 1500 sq feet, the you will earn 1500 * (550-280) = RM405k. The biggest sq feet you bought, you will earning more.

For summer skye condo, ideal property doing good on well planned shot lots, amenities and services. It’s luxury condo also. Some more the location is excellent, easily access to airport, factories, schools, wet markets, shopping malls and groceries malls. If you bought at RM RM530 per sq feet, after 5 years shot up RM850 per sq feet, you will earn if you buy 1200 sq feet, 1200 * (850-530) = RM385k. Summer Skye condo price will hit 1 mil after 5 years.

@old man, the price @ golden triangle now 430 per square feet, I don’t see those purchasers earn a lot through this project, those people bought Setia project already earn few hundred thousands compared to this.

If ideal project can reach 1m in 5 years time, no people can stay in Penang island already, all people become a million dollar man. With the launch of affordable houses and poor exchange rate, economy already bad. No points talk much

@old man
I can sure that golden triangle…after 10 years still this project won’t exceed RM700k.. Poor location.. Now already convert to Bangla town.. Operator town.. Ideal is a lousy & hau siau developer..

old man :
For summer skye condo, ideal property doing good on well planned shot lots, amenities and services. It’s luxury condo also. Some more the location is excellent, easily access to airport, factories, schools, wet markets, shopping malls and groceries malls. If you bought at RM RM530 per sq feet, after 5 years shot up RM850 per sq feet, you will earn if you buy 1200 sq feet, 1200 * (850-530) = RM385k. Summer Skye condo price will hit 1 mil after 5 years.

haha, 850psf in 5 years time in sg ara area? definately wont happen there.

even tg tokong or tg bungah area I also skeptical it will hit 850psf in these coming 5 yrs.

Gong Xi Fa Chai for all the sungai ara..relau..bala pai investor.. Good luck.. Those who buy solaria residence also will cry till dead.. Feel like get cheated. Sure no appreciation in subsale. Now all the condo 1000sqf in this
area only worth RM450k to RM550k.. Good luck.. Really ONG for developer.. Great strategic..

Gong Xi Fa Cai to all Summerskye buyer. =) Ideal For Life: Which project is a good investment?

Hi, interested on smaller unit. What is the package now? is the facilities area bigger than one imperial? Please advise

To those who purchase Summersky, what is your buying point? I can see at this moment around 85%already sold out ….

buying point? maybe because of other launched new projects (Quin, Sandilands, Tamarind, QuayWest, Tropicana Residence………) are more than 700psf,

Affordable home is really high dense. (Unit / acre land)

@panda you got loan approved? S&P signed?

Tower1 and 2- 1100 sqf almost fully booked…:-(

Opps…Full booked!

SOLD OUT.

Yalah, susah nak beli dari developer, nampaknya telah sold out.

I heard 1100sqf *sold* out.

Interest to 1200 sqf, please pm me hopefully it doesn’t sold out yet.

Edi :
Interest to 1200 sqf, please pm me hopefully it doesn’t sold out yet.

Hi Edi, I have one 1200sf unit to let go, please let me know if you are interested.

HEY ANY SUMMER SKYE OWNER?

u all buy for own stay or for investment? feel free to share with everyone your view on this property(Pros & Cons). I m still new on this

Ideal for Life :
SOLD OUT.

Must be selling cheap.

any one signing S&P?

I think SUMMER SKYE is good for investment..the main road will be upgrade to 6 lane road in future until sg ara 4 junction. Solaria will be up next to the clover with commercial lot as well. What do u all think about THE CLOVER? Luxury condo with full residential title…

@jack
I prefer The Clovers because of the private lift, just the location not nice compare to Summer Skye.

for me…I think location preference is depend on the owner..some of them don’t want to be too close to the main road coz of vehicle noise..but some like it coz it is seem lively. I don’t know about pricing but I think I should be the same rite…

@Newbie
What about you

I feel that Summer Skye:
Pros Reason: 1) walking distance to the proposed LRT station(Airport Station)
2) side by side to the international school (SIS will be operate on Apr’16)
3) land around Summer Skye are fully develop, so more predictable on furture
activity
4) multiple access direct to the Summer Skye (Jalan Tun Dr Awang, Jalan Sungai
Tiram or Jalan Sultan Azlan Shah)
Cons Reason : 1) noise from the plane
2) noise form Jalan Tun Dr Awang (minor if your unit at higher floor.)

Pls correct me if I am wrong. Welcome to share your view.

@Newbie

You can consider Solaria Residence bumi unit release. The building will be GBI certified.

haha y ask me buy that property? any reason?

@Tree

@Newbie
Spot on. Have you sign S&P?

will signing on this coming friday

@ForeverRed88
HI U SIGN S&P DY?

@Newbie
Just got my offer letter from bank. Do share your experience when signing S&P.

@ForeverRed88
Sure

hear that 1100sf sold out dy. still got anyone going to sign the S&P?

@Newbie

How much psf?

mine is lower floor 530psf

@Newbie
your assessment pretty comprehensive!

A little confuse here as Feira Vista is much more cheaper by square feet comparison to Summerskye as of this moment. I don’t get it. Can anyone enlight me what is the logic behind this scenario?

Heard beside SIS there will be 15 floor offices been built just beside SIS international school, is that firm? Anyone have the news?

how much is assessment fee?

I think commercial office building will benefit to the shop lot under summer skye. hopefully is quality restaurant.

@jack
u mean service charge? 180+ 10% sinking fees

any comment on the gangster contractor issue in penang?

On GC, why the Sathu, Dua and Tree residency not affected?

I checked the residents friends, the management office, and outside contractors no such case. can use freely. no force for sands, grill,

but the condo surrounding got GC.

why on condos….why not all not subject to GC

Have booked 1 units for summer Skye
Is it good property investment ?

@cl
I can say at this moment tis property consider as overpriced. Go to check for the subsale price for fiera vista, reflection n meridian residence maybe you can get bigger sqft with tis price

@ForeverRed88
Hi,
cant compare directly, as FV is now sub-sale, and the available unit is very limited now. With limited units, the open for sale unit on the web (such as Mudah posting) even though is cheaper, but you cant get the best unit / corner / layout that you want. For those unit that met your desired layout, then the price will be slightly higher.

As for Summerskye, this is new project, you can still choose various unit layout according to your needs, with higher price. Since this is newly launch (last year), cant expect the price to be lower that FV launched price (4 years ago). that’s my point of view

Overpriced

@AA
Thanks for the information
Indeed Summer Skye is lesser sf with higher price
Summer Skye and Fierra Vista are nearby , the opposite of each other
Meridian and Reflection are far away a bit

firstly I want to say that comparing feira vista to summer skye in totally unfair, because feira vista launch 4 years ago. That time the property market price is not so competative yet compare to 2016. because of the market become more n more competative so the price increase year by year. until today, the price for a condo price RM500-600 psf is very resasonable (this is fact, can compare with others condo launching on 2015 n 2016). back to the price of feira vista, today feira vista is around 450 – 500psf, this price already give the investor gain alot. property market have slow now because of the implementation of GST, so the price just will have slightly increase. lastly a simple question are u willing to buy a house (feira wista) with Rm 600psf now? or u want to buy a house (summerskye) with Rm 600psf now? no offence, i just prove that, why feira vista price is lower that summerskye.
in addition, feira vista selling price is low right now, because some investor want to avoid giving more RPGT to IRB

price of feira vista (info from propowall.my)
RM468psf Feb16
RM470psf Jan16
RM468psf Dec15
RM473psf Nov15
RM479psf Oct15

RPGT charges
disposal within 3 years 30%
disposal within 4th years 20%
disposal within 5th years 15%
disposal after 5 years 0%

there will be more coming up at that particular area..Ideal got their new project “paramount solaris” and WHH Land will also coming up near by..mean while Asia Green will complete their luxury condo The Clover early next year.

Just want to know what is the different between Feira vista vs Summerskye vs the clover…any idea? I think this is the main player for now…

@Dino
Thanks for the feedback.

@Newbie
Conclusion summerskye won’t sell higher price than fiera vista in near future. If you buy for own stay should be OK but if you buy for investment sorry to say that this is not a good investment at this moment.

@AA

ya, wont have rapid increasing in price, sure the price for FV will more higher than SummerSkye. I buy for own stay, not invest. haha

Hi why Summer Skye cannot rapid increase price ? But FV can?
SS is condo, have the facilities , below have many shop lots , nearby international school, near airport …….

Thinking of buying but from comments seem SS is expensive and hardly capital gains ….

Don’t buy if you have doubts.

@Roy
From my personal point of view, I would say Summerskye as it is strategically located at the intersection of Jalan Tun Awang and Jalan Sultan Azlan Shah. For me, assessibility is very important for a property to grow and sustain. I would not concurs that Summerskye is the real deal as lots of factor are to determine the outcome of this property performance. Last but not least one must take maintenance fee collection into consideration as well.Collection vs Expenditure=? The better it’s manage the higher return it will be.

cl :
Hi why Summer Skye cannot rapid increase price ? But FV can?
SS is condo, have the facilities , below have many shop lots , nearby international school, near airport …….

HI cl, actually Feira vista’s price also increase slowly.info rom propowall
RM468psf Feb16
RM470psf Jan16
RM468psf Dec15
RM473psf Nov15
RM479psf Oct15

and even drop on feb16

More condo will coming up at this area in future…

@blackbone

you are right, that’s y the price wont have rapid increasing. if u want invest in really high return go for gurney n tanjung bungah. but I believe in future everywhere in penang is the same (correct me if I m wrong)

@cl
go to check for Orchard ville tis is also one of the overpriced project n will complete by tis or next year. i think the seller for 1080sqft will sell their unit around or more than 700k once complete. Do you think will have ppl want to buy 700k at this location? reasonable price for this location is around 500k to 600k for condo. if more than tis i will choose better location such as tanjung tokong area.

@cl
go to check for Orchard ville tis is also one of the overpriced project n will complete by tis or next year. i think the seller for 1080sqft will sell their unit around or more than 700k once complete. Do you think will have ppl want to buy 700k at this location? reasonable price for this location is around 500k to 600k for condo. if more than tis i will choose better location such as tanjung tokong area.

@ForeverRed88

@AA

@blackbone
hey guys, how u all think about the price of Summerskye compare to others new development property around bayan lepas? (the clovers, Setia triangle, Forestville and others)

@Newbie
i think tis one is the most cheaper private condo in tis area.
Forest Ville, 450per sqft, 450k onwards, freehold, built-up area 1000sqft n 1050sqft(corner), facing airport/swimming pool/morning sun +10k, every floor higher +700, rental subsidy 18k, 2car park, fully residential n no shop lot, total 991unit (block A n B)

@Newbie
It is very difficult to compare prices. Bottom line is that if you feel it’s worthy than it should be. I personnaly hand-pick Summerskye as my home stay as well as long term investment. (Do refer to my previous comment)

AA :
@Newbie
i think tis one is the most cheaper private condo in tis area.
Forest Ville, 450per sqft, 450k onwards, freehold, built-up area 1000sqft n 1050sqft(corner), facing airport/swimming pool/morning sun +10k, every floor higher +700, rental subsidy 18k, 2car park, fully residential n no shop lot, total 991unit (block A n B)

Forest ville consider affortable house ?

I think Forest Ville is affordable home that release to public…valued rm400k for affordable. Please correct me if i’m wrong ok :)…if true then it will be cramp coz too many units and the main access road will be share by many.

The Clovers is fully residential luxury condo which have the largest leisure park. Furthermore this condo have private lift. This is an added value. Some people don’t like to stay above shop lot then this one is suitable for them. The disadvantage is this luxury condo located in the middle between Desa Bayan Flat (West) , new coming development by WHH Land (East) and Paramount Solarist (North). But I think that won’t effect much when this area is fully developed.

Summerskye is located at a very good place..next to main road..have commercial lots..near to school..i think it will be a good investment but it still depend on what we really want rite..whether private and not so havoc place like the clovers or urban life style with commercial lots like summerskye

@blackbone
totally agree with u

@Newbie
Forest ville is a fully residential condo project without shop lot and one foresta is affordable house. You can go to ideal to check. I can say forest ville worth to invest because the pricing still can gain a lot once complete.

@blackbone
SS is residential or commercial title?

Tree Sparina is under residential tittle..others may be under comercial.

From my point of view..sg ara area is still under develope and ideal property try to make it become new township with the launching of ideal vision park. This area have value for investment especially after Penang Transport Masterplan fully carry out in future. If they can build one nice shopping mall in this area will be nicer coz resident no need to flooded Queen Bay mall during weekend or shopping season

Whether it is Setia Triangle, ForestVille, The Clovers or SummerSkye..they hv their own pros and cons.

@Roy
too bad if under commercial title. Higher assessment (cukai) fee, 6% GST charged when selling and also maintenance fee, commercial rate for electrical n water, the unit also maybe can use for commercial purpose due to is under commercial title. Good luck to you all guys if SS is under commercial title.

Electrical and water are under residential rate. Assessment is 10% more only. GST ???

Electrical and water fee may be can get residential rate but absolutely not for “cukai pintu” and “cukai tanah”..and the different is very very far.

It’s residential title for condo , not commercial title
Agent confirm that

@cl
Please read tis http://www.thestar.com.my/metro/community/2016/03/04/water-bill-dilemma-residents-of-condominiums-built-on-commercial-land-face-higher-rates/

@cl
Agent cannot 100% trust go to check first. Tis is my advise to you.

Hi Guys, any comment on the airport noise?this is my most worry for SS or even other nearby condo. Not sure any comment for those already live nearby?

Not only the airport noise the main road noise also need to worry.

AA :
@cl
Agent cannot 100% trust go to check first. Tis is my advise to you.

Agreed with this statement..better check with the authority.

If too close with the airport and main road..of course u will have to deal with the noise. This is why i said depend on us when choosing our living place. Forrest Ville is a good choice if u want greenary and not so noissy..the Clovers also quite nice coz not located beside the main road.

Ok, will double check on the title

I am actually staying at nearby airport ,the landed house infront of airport (near Heng Ee school)
For the airport noise, for me no need to worry as it is quite a distance frm airport
The plane landed in another way which is quite a distance frm the housing area
For SS, I think also the same , quite a bit distance from airport to SS
Maybe if stay too long then the noise also not noise anymore ,lol
Honestly it is not really noisy la

SS got few units that not face main road actually such as tower 1A, 1B and 1C
These units face smaller road, and based on my experience these small roads don’t have huge traffic , as nothing there for now
In future not sure la
Now this area is still very quiet and a bit ‘terpencil’….at night and daylight also quite quiet , I mean the smaller road
So choose the right units if want to avoid traffic noise

My own reasons for buying :
-…near LRT station
This station will be infront / opposite SS meaning SS will be among the nearest to that station. This will increase convenient and people flow

-…near airport
In north Malaysia this is currently among main airport so property near there will up in value
And that Penang airport might expand in future and take in more passenger

-…near international school
Will increase demand for rental or property up in value

-…lots of commercial shop downstairs
For me, I prefer the area to be lively (some prefer quiet) and easy to get food and others
This SS is currently only commercial shops nearest to airport and if it open it will attract lots of people from school and airport which is good

-…easy access on 2 main roads
If Jln tun dr awang jam then can use sg tiram road or the Jln sultan Azlan shah

-…surrounding nearby SS already have plan
Such as school and others so no need worry suddenly come out a projects that blocks your view or others

Fierra vista yes is infront of SS and large sf also but it is not exactly near the main road and inside and not shop

Hope can get other views on my reasons as well, thanks !

Others reasons :
-Near both Penang bridge
-near queensbay
-near industrial area
-the area future will develop with market and other things

Thanks cl
Infact i have just booked 1unit yesterday
Not left many units.
Some other reason for me is it near sunshine or giant,banks and even hospital if any emergence. Also, even is main road, it is not a heavy flow main road. I work at bayan lepas, so i can avoid many jams every day.

@come

Yeah, forget near pantai hospital also

By the way u book which tower? I am tower 1D

@cl
hi cl, we will be neighbor soon, me n my family also buy 1 on tower 1d… we prefer that direction n view.. by the way do u sign s&p dy?

-…surrounding nearby SS already have plan
Such as school and others so no need worry suddenly come out a projects that blocks your view or others

got 1 15floors office tower infront SS, mine is lower floor so maybe block by this building =(

Newbie :
-…surrounding nearby SS already have plan
Such as school and others so no need worry suddenly come out a projects that blocks your view or others
got 1 15floors office tower infront SS, mine is lower floor so maybe block by this building =(

but for myself I think is ok, because is higher floor than 15 floor, u will see ppl head(top floor of the 15 floor office tower). this I think not good for feng shui la… my opinion only

Newbie :

Newbie :
-…surrounding nearby SS already have plan
Such as school and others so no need worry suddenly come out a projects that blocks your view or others
got 1 15floors office tower infront SS, mine is lower floor so maybe block by this building =(

but for myself I think is ok, because is higher floor than 15 floor, u will see ppl head(top floor of the 15 floor office tower). this I think not good for feng shui la… my opinion only

typing error, because if higher floor than 15 floor, u will see ppl head(top floor of the 15 floor office tower). this I think not good for feng shui la… my opinion only

I’m actually consider about this SS project, but I got few points that I’m still concern about…

1) Down stair have shoplot is good, but if the shoplot manage by individual owners then I worry it will turn to be another GT at relau… Unless it will manage by management or some body, then it will turn to be advantage…

2) It’s 1100sqft & 1200sqft, I worry in the future when the time I planning to sale, I will facing a lot of competitors because many affordable house or surrounding projects are around this built up range…

3) Price is similar with Fiera Vista, but FV have bigger built up… but but but FV subsales have to pay a lot of cash for upfront payments… Which to me is quite tough, like water flood nearby my nose…

Any experts or agents can give me advise or solve my concern please?

@Mr Fai
hi, mr Fai your concern are really possible, but dun forget in future there will be a office tower in front SS, there will more advantage for the shoplots to open more “quality” restaurant at there. I sure the management will control that.. anyway this just my personal thinking. regarding the affordable house, SS will more luxury compare to them, because many facilities provide. n more convenience, n more important the affordable house cant simply sale to others. so affordable house not a competitor concern for SS. lastly FV, the FV price is low because they launched 3 or 4 years ago.(can refer back to my previous comment regarding the price of FV). if u really want buy, u can compare SS with Clovers, this is more comparable. The Clovers will be slightly more expensive because they provide private lift and bigger size compare to SS. but in term of psf I think dun have much different.

If i’m not mistaken affordable house can only be sell to others after 5 years. This regulation made clear by the Penang Sate Government. Of course affordable house have advantage in term of pricing but not in term of facilities.

I’m agree with Newbie..i think SS only can compare with the clovers. Both of this condo have their own advantages.

@Jack
most important is most of the affordable house is leasehold.

Newbie :@Jack most important is most of the affordable house is leasehold.

Really? Foresta affordable house also under leasehold? Then is quite troublesome coz leasehold is less attractive to buyers vs times.

@Jack
Foresta is freehold.

According to the National Land Code, 1965 (Act 56 of 1965), Section 40 asserts that all State land belongs to the State authority.

When a plot of land is disposed by the authority to an individual indefinitely it becomes freehold. This is seen when developers purchase land to build freehold bungalows, private housing and condominiums.

Leasehold on the other hand, is when State land is released to an individual for a definite number of years not exceeding 999. Once the term expires, the land ownership reverts to the State authority. In order to extend the leasehold, the current owner must apply for a renewal before the expiry date. A significant sum of money is usually expected – one that is close to the original sum paid for albeit with minor discounts.

As freehold land is owned by the developer, the property that is built on it facilitates the transfer of the land to the buyer of the property if it is of a bungalow/terraced house type. In the case of a condominium, the buyer owns a stake in the condo by way of the apartment but the land is still owned by the land purchaser.

Leasehold

Leasehold tenures usually last 30, 60, 99 or in some cases, 999 years. There are obviously restrictions to a leasehold land as things like land cultivation may be effectively barred by environmental and town planers. Also, what is detailed in the lease conditions will limit the type of activity that can be performed on the land.

The owner of the land has a duty to care for the land as defined by the land legislation and may be responsible for developing some property and maintaining it. Thus, the security of the tenure may be jeopardized should the State deem the tenant unfit to govern the land. Forfeiture for non-performance can be exacted.

During the period of ownership, only the State or an equivalent can grant approval for a transfer of lease. Leaseholds are always subjected to a much higher level of control and are less secure than freeholds.

However, when the lease goes through multiple rounds of renewals, it will eventually reach a level of security similar to a freehold.

Freehold

Development on freehold land is only limited by environmental and town planning controllers.

The owner is expected to follow common law and where relevant, laws laid down by the Environment Protection Acts or equivalent in the governing of the land.

Should the owner wish to transfer ownership, there are much fewer and less stringent limitations. Furthermore, the owner has the unlimited right to subdivide and allocate the land, although it is still subjected to town planning controls. The owner also has some means to use the land for public works.

As there is a high level of security here, meaning that the State cannot claim the land from the owner if no development is takes place, the owner is not beholden to stick to a specific time table.

Freeholds are indisputably the title that allows the most control and offers the highest level of security.

@AA

How abt Residential Title vs Commercial Title?

SS condo is on residential title
So the quit rent and assessment will follow residential rate for the SS condo
The shop lots downstairs will on commercial title
1 building , 2 titles

About the shop lots I get to know that the developer for now plan to rent it out instead of sold it.
This will allow them to control what brands/shop to open in all the shop lots downstairs.
If this plan is true and really carried out, it will greatly benefit all SS condo owners.
Can expect more better restaurants and others quality shops downstairs and indirectly will increase condo value.
There is logic point on developer plan being…got school, got new office building, got airport, got others residential people nearby so sure there will be high demand on the shops at SS and they can collect rental….who don’t want, lol
Now at that area, there can say no shop at all, need drive far away to giant or sunshine area only have shops….every time cari makan also susah, need drive out….this is my experience la stay at sg tiram house here…
So I think the shops will be a hit ..

@Newbie
Not yet sign s&p, but soon
Now for SS I only have many good reasons to buy , try to find bad reasons but don’t have yet

The 15 floors office tower
Example if we buy level 12, will it be affected ?
Because I confused the level 12 + 3 floor (shop lots) so the actual level is 15 level or 12 level?
Anyone can explain ?

@cl
by the model build by ideal, we can see that the 15 floor tower will block until 12 or 12 floor of SS. that means 12 floor n above will not a problem , but for me I dun like see ppls head(the highest floor of office tower) cause I feel that feng shui not good. depend on yourself la.every ppl will got different mindset.

*11 or 12 floor

@cl
U sure ideal plan to rent out instead of sell off… if yes,that is a pretty good news for us … wakaka

Newbie :
@cl
U sure ideal plan to rent out instead of sell off… if yes,that is a pretty good news for us … wakaka

I mean the shoplots .

@cl
Bad reason is SS psf of rm545 is high compared to sub sale in that area or Sg Ara / Relau.
Eg FV of rm470+ psf.

Newbie :
firstly I want to say that comparing feira vista to summer skye in totally unfair, because feira vista launch 4 years ago. That time the property market price is not so competative yet compare to 2016. because of the market become more n more competative so the price increase year by year. until today, the price for a condo price RM500-600 psf is very resasonable (this is fact, can compare with others condo launching on 2015 n 2016). back to the price of feira vista, today feira vista is around 450 – 500psf, this price already give the investor gain alot. property market have slow now because of the implementation of GST, so the price just will have slightly increase. lastly a simple question are u willing to buy a house (feira wista) with Rm 600psf now? or u want to buy a house (summerskye) with Rm 600psf now? no offence, i just prove that, why feira vista price is lower that summerskye.
in addition, feira vista selling price is low right now, because some investor want to avoid giving more RPGT to IRB
price of feira vista (info from propowall.my)
RM468psf Feb16
RM470psf Jan16
RM468psf Dec15
RM473psf Nov15
RM479psf Oct15
RPGT charges
disposal within 3 years 30%
disposal within 4th years 20%
disposal within 5th years 15%
disposal after 5 years 0%

@Ranee
I hope this solve your concern

The new coming ideal project “Paramount solarist” will have 2 condo towers, hotel with 300 rooms and 7 stories of shopping complex. Jalan tun dr awing also will be widen up to 6 lanes in future.

I think a lot of others project will come in and this place will be new town like Bayan Baru. This will benefit all resident around this area.

@Jack
u ar right

@Ranee
firstly I want to say that comparing feira vista to summer skye in totally unfair, because feira vista launch 4 years ago. That time the property market price is not so competative yet compare to 2016. because of the market become more n more competative so the price increase year by year. until today, the price for a condo price RM500-600 psf is very resasonable (this is fact, can compare with others condo launching on 2015 n 2016). back to the price of feira vista, today feira vista is around 450 – 500psf, this price already give the investor gain alot. property market have slow now because of the implementation of GST, so the price just will have slightly increase. lastly a simple question are u willing to buy a house (feira wista) with Rm 600psf now? or u want to buy a house (summerskye) with Rm 600psf now? no offence, i just prove that, why feira vista price is lower that summerskye.
in addition, feira vista selling price is low right now, because some investor want to avoid giving more RPGT to IRB
price of feira vista (info from propowall.my)
RM468psf Feb16
RM470psf Jan16
RM468psf Dec15
RM473psf Nov15
RM479psf Oct15
RPGT charges
disposal within 3 years 30%
disposal within 4th years 20%
disposal within 5th years 15%
disposal after 5 years 0%

@BB
1. You pay different utility charges
Because of their land status, serviced apartments are charged commercial rates for utilities, which are much higher than residential rates. Deposits collected by utility companies are also higher. Some developers do try to work around this by negotiating with utility companies for lower rates. They may or may not be successful, so it pays to confirm this with the developer.

2. You pay different tax rates
Quit rent and assessment rates for serviced apartments are also calculated at commercial rates, much higher than condos. Some developers try to get lower rates by finding some loopholes in zoning laws to reclassify the apartments. But again, they may or may not succeed in doing so, so do check and make sure.

3. You will be living in different environments
Condos are designed for privacy, and security controls the flow of unknown persons into the property.

Most serviced apartments are attached to a shopping mall or retail shops. You have no control over the type of businesses there and the flow of non-residents in the area. But if you like the idea of convenience, where you live upstairs and can just hop into the lift to go downstairs for dinner or a movie, this is a great plus point.

But there are also some serviced apartments that are not attached to any malls or shops. This could be because the developer had converted the land status from “residential” to “commercial”. Why would they do this? Well, maybe the next point might shed some light.

4. You will have different population densities
Residential developments are built based on units or population per land size. However, commercial developments are based on plot ratio, which is the total built-up area per land size. This affects the number of neighbours you will have.
For example, say a developer gets permission to build a condominium based on a population of 1000 people per acre. Assuming 5 people live in a 1,000 square foot unit, a developer can only build a maximum of 200 units per acre of land.

One the other hand, let’s say a developer gets permission to build serviced apartments based on a plot ratio of 1:10. Now, for the same one acre of land (measuring about 44,000 square feet), the developer is allowed to build up to 440,000 square feet. That means developers can now easily build 400 units of 1,000 square foot apartments! Or even more, if they build smaller units.

5. You MAY be governed by different laws
The Housing Development Act (HDA) places strict standards on developers of residential properties to protect home buyers. Although serviced apartments are built on commercial land, they have been classified as residential properties, so buyers are protected by the HDA as well.

BUT…the HDA may NOT cover developers of certain types of “residential” properties built on commercial land, such as SOFOs, SOVOs, or Flexi/Designer Suites.

These may be marketed as residential cum office space, but they may be legally classified as office/commercial properties, which do not come under the HDA. Do check these properties’ status to be sure what type of property you are actually buying.

6. There is no standard S&P for commercial properties
Under the HDA, developers and buyers sign a standard S&P agreement. The agreement’s terms are set by law and non-negotiable. This applies to both condos and serviced apartments. However, there is no standard S&P agreement for the other types of properties mentioned above, if they are classified as office/commercial properties.

The only legally-binding conditions on such commercial property developers are found in the S&P agreement. So if you do decide to go ahead and buy such a property, read the agreements carefully to make sure they are fair.

7. You MAY be regulated by different Ministries
If buyers of condos or serviced apartments under HDA have problems with the developer, they can go to the Ministry of Housing and Local Government for help. However, the Ministry may not be able to help buyers of properties that do not come under the HDA. If problems crop up with developers of office/commercial units mentioned above, the recourse is usually to go through lawyers or the courts.

@AA

Thanks for detailed explanation.

@AA
residential title win

@BB
Q40. Are residential apartments packaged with other services such as 24 hours security, swimming pool, landscape and other common facilities can be classified as service apartments? Are these services subject to GST?
A40. Residential apartment does not become service apartment by providing services as classified above. However, when management fees charged for maintenance of the services are subject to GST. Security services provided is a taxable supply and the security company will have to charge GST on the security services provided to the management company. If the management company is a GST registered person the GST paid to the security company is claimable as input tax.

Q41. Service apartments are occasionally rented out as residential apartments to individuals or companies. Is the rent received subject to GST?
A41. Service apartments operated by a GST registered company which collect rent on short/long stay is subject to GST. GST will be charged on the value offered by the hotel for long stay. If the apartment is sold to an individual for residential purpose, it is not subject to GST. The GST treatment on service apartments will depend on the usage of the apartments whether for commercial or residential purposes. If it is for commercial, it is subject to GST and if it is for residential, it is not subject to GST.

@AA
hi, where u fing those information? can share out the link? haha thankx a lot

Still got anyone signing SNP dy? excited to be your neighbor hehe

@Newbie

Everyone knows freehold+residential title won. But sometimes we buy unit with freehold+commercial title for residential use or leasehold+residential title because of the strategic of the location of the unit.

@cl
I chose tower D as well, bcos this is the block with least unit…haha
Wanna ask you guys, any idea which bank offers better package and rate? the best i got to know is about 4.4%…

Here are the sub-sales for Fiera Vista that I had found in Mudah:

1,400sf @ RM595,000 (425psf)
1,400sf @ RM600,000 (429psf)
1,450sf @ RM620,000 (428psf)
1,650sf @ RM740,000 (448psf)

I am waiting for the sub-sales pricing for Vision Park Phase 1 (Tree Sparina). I think it will be in the 450psf ranges.

SummerSkye Residences (Vision Park Phase 2) is selling at 520+psf, buyers beware!

@Fanny

I cancelled my booking today and I got my RM5,000 cheque back.

Please be informed that the last day to cancel is next Fri 15-Apr-2016.

@Fanny
You expect Tree Sparina’s sub-sale to be within 450/sf now in 2016? Their starting price was 500/sf back in 2013 whereas Fiera Vista’s starting price was 330/sf back in 2011. Go figure…

@BB
thank for your explaination.

@Fanny
this is because They launch on different time n market so will have different price.. every property will have their own value I can say.. if u now buy FV now in this price, because it’s only worth that price. tree sparina n FV launch almost same time(1 years different) so u can see the price between 1 year in the same place will slightly different(425psf FV and 450psf tree sparina from info u provide) now u buy FV 3 years later already 4 years old for the property, but SS just born after 3 years, which 1 more worthy? this all is by my NEWBIE personal view(common sence) maybe investor will have different perspective. share out!

@Come
UOB currently is offering 4.45%

@Newbie

Hi Newbie , i already sign my s&p
im tower 2

@Jcc
nice to meet u, mine 1 is tower 1D

https://www.penangpropertytalk.com/2016/04/proposed-lrt-stations-bayan-lepas-line/

the lrt station seem like a bit far from summer skye

Wow. Fiera vista and SummerSkye are the residence area nearest to the station. haha congrat to all FV and SS owner. Excited!! https://www.penangpropertytalk.com/2016/04/proposed-lrt-stations-bayan-lepas-line/comment-page-1/#comment-405893

@Jcc
some place more futher than their house.. sure they will build near to the airport… if too near to SS den will very crowded. dun worry SS sure will advantage on this mega transport plan

Fanny :
Here are the sub-sales for Fiera Vista that I had found in Mudah:
1,400sf @ RM595,000 (425psf)
1,400sf @ RM600,000 (429psf)
1,450sf @ RM620,000 (428psf)
1,650sf @ RM740,000 (448psf)
I am waiting for the sub-sales pricing for Vision Park Phase 1 (Tree Sparina). I think it will be in the 450psf ranges.
SummerSkye Residences (Vision Park Phase 2) is selling at 520+psf, buyers beware!

Hi Fanny,

This lowest prices are refering to the layout / unit that majority buyers do not prefer, you can try to call and arrange for viewing if anyone dont trust me

regarding the title of the condo:

In the SnP din stated whether is residential or commercial title. u just see the 1st page, if it is schedule H or G that property is residential title. SS is under schedule H. Schedule G is for landed property.

Regarding Commercial lots under SS:

Currently management(IDEAL) plan to rent instead of sold off the shop lots. so the brands of the shop will under control of the management. (Hopefully become another Summerton).

Anyone any idea about MRTA or MLTA?
Which is the better?
Buy from bank better or from insurance agent better?
Compulsory to buy ?
Which more lower premium ?
What benefit of having this insurance ?

may i know which bank loan you guys took? i am think of pbb @ 4.45%

@t

Go check ambank is 4.40% (BR4% + fixed 0.4%)
Based rate (BR) follow market
Fixed 0.4% fixed throughout the tenure and ambank is the lowest
Do correct me anyone if I am wrong …

@cl

Yes, ambank is 4.40%, but the formula is BR 3.8%+ fixed 0.6%.
This is for my case as at Jan 2016.

@Ranee

Thanks ranee for your info

So in my case more favourable…..lower fixed rate than yours (0.6% vs 0.4%)

Maintenance fee is at rm198 per month …is it reasonable ?

I took Ambank 4.4% (BR+0.4)

All SS owners will get interest subsidy 20k , every 3 months get 2k for 10months
Another small little good points of SS

@HY

Took MRTA also with am bank ?

@Newbie
So, SS is under Residential title?

@cl
Yes. MRTA 15 years.

@HY
yes, schedule H is under residential title…

@t

@cl
bank loan from HLB, forget the rate liao, go back check for u, the insurance is come with loan, I think not compulsory… u may check with your banker… if u buy from others insurance agent will be more expensive n the process quite complicated, y not u just buy from the bank, the benefit is almost the same, n even better. (sorry I not the insurance agent so dun know the thing)

Heard some project no need to pay bank interest until the condo is finished constructed. For ss, does it have this benefit?

@goo
for SS will get 20k
3months pay once, each time 2k
Up to 10 months
This is the interest subsidy

Pan island link 1
new highway will link to Penang airport
This will benefit SS again because later have this highway can easy access to gurney / air itam