Vega Residensi 1 (PKNS)

Re: Vega Residensi 1 (PKNS)

Postby 1282009 » Sat Feb 16, 2013 10:38 pm

X301 wrote:After some thinking...

I think Vega got potential but too early to buy? In my humble opinion:

Pros:
- PKNS got relatively good record, most of their developments I found saw appreciation.
- Expected VP August/September 2013, so no abandonment risk and since VP ahead of pending oversupply (2014-2015? not sure), maybe can still get tenant for good rate and pray they don't get tempted to move if oversupply brings rental rate down.
- Cheap entry, got 10% rebate and booking only 1K. If first-time home buyer, can get cashback to buy more properties.
- Low-density and still minutes of driving away from everything in Cyber.
- Full condo facilities.
- Not that far from KL...I tried driving from here to Bangsar, only 30 minutes or so through MEX (RM2.50) and then cut into NPE (RM1.60)..although can opt to go into Timur-Barat and no toll all the way to Old Klang Road or Midvalley area but that area usually slow moving in the morning. Plus Putrajaya Sentral also 15 minutes drive away only, can take train to KL Sentral (20 minutes) but pay RM9.90 one way. Got train to KLIA also.

Long-term pros:
- Walking distance to Pan'gaea (first real shopping mall in Cyber, estimated completion in 2017).
- Opposite lake, if developer do SSP2 up nicely will be a nice surrounding further away from heart of Cyberjaya without being too far.
- Entry price at the moment looks to be around 540 psf...Pan'gaea around 700 psf? So got legs if OSK do a good job and price soars later.

Cons:
- Oversupply of studios in Cyber..got studios in the Domain series ady, d'Pulze and Serin on the way, Hyve also...overestimating the studio demand? Mostly foreigners woh looking for studios.
- If target foreign students, most of them studying in LKW for example don't drive..no sign of a bus stop in front of Vega yet, so tenant must drive...until Pan'gaea mall finish and start operating, not walking distance to anything so connectivity is an issue. Not to mention these driving foreigners may see better appeal in Seri Kembangan with more hypermarkets and amenities just 20 minutes away from Cyber, btw only downside of SK is horrible jam between 7.45-9.00am every morning at the LDP intersection towards Puchong/Cyber.
- This is very long-term...Vega is surrounded by empty land except for the ex-Talam Taman Pinggiran Cyber, 1sty landed house area behind it..based on the model at the showroom, a lot of construction will be going on around Vega so not sure how much impact the noise, dust and sore sight will be...not to mention if road quality will be improved (currently not that good) or will further deteriorate..so until Pan'gaea up and running + surrounding area improved, can still get positive cashflow?
- Leasehold and commercial title = higher utilities, right?

So I think this is good for own stay if you need the cashback to shoot for cashflow property..if purely for investment, flip coin like that loh...unless can target working professionals/expats from Cyber, maybe KL/Subang who don't mind driving a little further just so they don't have to stay in student-dominant condos in Cyber.

My humble 2c..please comment if I miss out anything..


Very good and fair review.
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Re: Vega Residensi 1 (PKNS)

Postby sepyong » Mon Feb 18, 2013 2:07 am

What is the price psf?
is cyber jaya over developed?
A bit scary of the supply. Can market absorb?
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Re: Vega Residensi 1 (PKNS)

Postby X301 » Mon Feb 18, 2013 6:01 am

Mid-floor studio unit (535 sq ft) ask for 285,888, around 530 psf. Every level up increase price by 1K.

I think will take time for market to absorb, although bearing in mind supply is increasing in stages, not all enter the market together sekaligus. Vega VP end of 2013, D'Pulze and Serin expected 2014 (correct me if wrong ah), Pan'gaea and Hyve 2017.

Worth noting Domain 3 recently VPed end of 2012. Recently I try viewing one studio unit, have a sense that still a lot of empty units...owner asking for 1300 p/m partly furnished with kitchen cabinet, dapur, aircond and washing machine only. Itu pun nothing yet masa viewing, only want to furnish after get tenant...korek2, owner said got a lot of people asking that cannot tahan, terus take down advertisement temporarily but mostly foreign students lah asking, some ask for extra mcm2 for same rental and some asking for even lower rental. I was 2nd viewer on same day, first person an Arab lady from LKW (not driving).

But also got MNC renting Domain for their staff, one other studio was rented out for 1.9K per month. Have to take note Domain series are walking distance to food and the other amenities in the area, has taxi stand nearby and can even walk to Street Mall/Cyberjaya Bus Terminal if want to.
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Re: Vega Residensi 1 (PKNS)

Postby kokheng » Sun Mar 17, 2013 11:18 pm

X301 wrote:I think will take time for market to absorb, although bearing in mind supply is increasing in stages, not all enter the market together sekaligus. Vega VP end of 2013, D'Pulze and Serin expected 2014 (correct me if wrong ah), Pan'gaea and Hyve 2017.


According to statistics from Cyberview (Published on 2011 if not mistaken)
By 2016 (est)
Total knowledge worker = 34574
Total number of students = 25488
Total population (daytime) = 60242
Total no. of company = 793
Total no. of residential unit =15386

IMHO, there should be enough population, the key should be whether those work in Cyberjaya are willing to stay there.
And this would in turn depends on whether entertainment or so call "life" will be provided.
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Re: Vega Residensi 1 (PKNS)

Postby eugene jk » Sun Mar 17, 2013 11:33 pm

kokheng wrote:
X301 wrote:I think will take time for market to absorb, although bearing in mind supply is increasing in stages, not all enter the market together sekaligus. Vega VP end of 2013, D'Pulze and Serin expected 2014 (correct me if wrong ah), Pan'gaea and Hyve 2017.


According to statistics from Cyberview (Published on 2011 if not mistaken)
By 2016 (est)
Total knowledge worker = 34574
Total number of students = 25488
Total population (daytime) = 60242
Total no. of company = 793
Total no. of residential unit =15386

IMHO, there should be enough population, the key should be whether those work in Cyberjaya are willing to stay there.
And this would in turn depends on whether entertainment or so call "life" will be provided.


my compile list in LYN

MMU population - 8000 (can check website)
LKW population - 9500 (can check website)

MMU has internal hostel, 4 blocks with 3 wings each, 5 floor, also another 2 apartments IOTA and Epsilon, easily fit in 3000 students (I stayed there for whole 4 years, RM100 permonth only.. lolzz)
LKW hostel near SK (anyone mind to share how many it can fit in?)

Existing poperties
Cyberia easily fit in 5,000 population http://wikimapia.org/#lat=2.9236526&lon ... 16&l=0&m=b
1182 Condos, 372 townhouse

Cyberia Crescent - 799 units of 900sqft to 2000sqft... conservatively accommodating 2,000 population

Domain Cyber - 272 units of studio and small apartments

D'Melor - 120 units low density condo

Gardenview Residence - 210 units with 1400sqft to 2800sqft

On going -
Mahsing Garden Plaza - 983 studios and service apartment
D'pulse - 482 studios and suites
Shaftsbury - 783 studios and SOHO
Serin Villamas - 600 units of condos (965 to 3000sqft), easily take in 2,000
The Arc - over 1000 units of condos (900 to 2000sqft), easily take in 3,000 ppl
Mutiara Ville - 10 blocks highdense, more than 1000 units i think.. easily take in 3,000 ppl
The Place - 190 studios (partitioned to 3 bedder) .. also duplex SOHO dont know how many
V' Residence - 268 units with 1,300sqft above
Skypark - Service Apartment close to 300 units.. Studio and SOHO unknown
Pangeae - SOFO 200 units, Service apartment, my rough calculation 500 units perblock, 90% studio, all togther 4 blocks, potentially total 2,000 units of studio + service apartment
The Hyve - 768 units of studio and small apartments
Vita Cyberjaya - 345 SOHO
Vega Residensi - 356 studios and small units by PKNS
CyberSquare - SOHO tak tau berapa unit..
Symphony Park - this one abit unknown... initial plan was 784 units http://www.propwall.my/cyberjaya/symphony_park

Other props which I dont think part of the competition
Mahsing Garden Residence
UEM Symphony Hills
Sps Eco Glades
Summer Glades
MyDiva Homes
OSK Mirage by the lake
Cyber Heights Villa

Others which could be part of the competition
ZEVA
3 Elements
Paragon 3

miss out any? :think:

and this one just came in, Lake Front Residence by MCT... WALAU-Eh.... :think:
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Re: Vega Residensi 1 (PKNS)

Postby kokheng » Mon Mar 18, 2013 7:20 pm

Eugene jk,
I went to OSK sales office in cyberjaya yesterday, the agent told me that surprisingly quite some people are buying for own stay in Soltice, the 980sf unit, 3r + 2b
One buyer is working in KLCC and plans to travel via Maju Express Way to work. :o
And some are actually moving from damansara area.

my own interpretation is that this is one sign of emergence of a new town.

Just my 2 cents :D

As for the question of oversupply, really no sure way to predict it. :(
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Re: Vega Residensi 1 (PKNS)

Postby Jet » Mon Mar 18, 2013 7:53 pm

kokheng wrote:my own interpretation is that this is one sign of emergence of a new town.

with >20k condo and >3k landed homes by 2017/8, it cld be an emergence of ghost or boom town.....risk or gain will be high
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Re: Vega Residensi 1 (PKNS)

Postby brilowch » Mon Mar 18, 2013 9:07 pm

Cyber is another too large to fail project?
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Re: Vega Residensi 1 (PKNS)

Postby eugene jk » Mon Mar 18, 2013 9:59 pm

kokheng wrote:Eugene jk,
I went to OSK sales office in cyberjaya yesterday, the agent told me that surprisingly quite some people are buying for own stay in Soltice, the 980sf unit, 3r + 2b
One buyer is working in KLCC and plans to travel via Maju Express Way to work. :o
And some are actually moving from damansara area.

my own interpretation is that this is one sign of emergence of a new town.

Just my 2 cents :D

As for the question of oversupply, really no sure way to predict it. :(


Agent mah.... lolzz.... :mrgreen:
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Re: Vega Residensi 1 (PKNS)

Postby Quartz » Tue Mar 19, 2013 12:04 am

kokheng wrote:Eugene jk,
I went to OSK sales office in cyberjaya yesterday, the agent told me that surprisingly quite some people are buying for own stay in Soltice, the 980sf unit, 3r + 2b
One buyer is working in KLCC and plans to travel via Maju Express Way to work. :o


I have to say 1st tht my mentality and my wife's are somewhat different when it comes to properties - she likes landed a lot, I don't mind condo, she's only interested in own-stay prospects, I'm more interested in investable props...

That said, we were driving around Cyberjaya last weekend. On our way home she said she wouldn't mind staying in Cyberjaya because it feels like a higher-class environment that is different from more kelam-kabut places like Serdang etc due to well-planned development. Infra is good also and she felt like Cyberjaya is a safe place to live in.

Would that echo the average own-stayer mindset on Cyberjaya once they get past the stereotypes of Cyberjaya (jauh, hutan, ghost town) and see that Cyber is quite liveable now?
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