MARKET P U L S E
June 2013 Business Development Dept.
Prices of Premium Condominiums / Service Apartments (Descending Order) No.
Project
Average Price (psf)
1
The Binjai
RM 2,305
2
Troika
RM 1,748
3
Pavilion Residenses
RM 1,705
4
One KL
RM 1,340
5
Avare
RM 1,300
6
Marc Residence
RM 1,263
7
The Oval
RM 1,252
8
St Mary
RM 1,241
9
Binjai 8
RM 1,234
10
Park Seven
RM 1,178
9
7
4
5
6
1 10
Source: propwall.com
• The above is an approximate ranking of top ten condominium / service apartments in Kuala Lumpur (based on selling price: psf basis). • The list is for completed projects only. • Pavilion Residenses is the only project outside the KLCC area. • Prices on average has dropped by about 15 to 20 percent due to substantial supply available. • Current average occupancy rate for KLCC condo is 55 percent.
2
FS
8
• Four Seasons Place; (FS) on the map, reportedly sold 2 of its penthouses at RM3,025 psf while average units are priced at about RM2,700 psf. • Several ongoing ‘branded’ projects are already breaching the RM2,000 psf level. • They include Banyan Tree, St Regis and Ritz Carlton Residence
Unique Features of Selected Developments
Park Seven
The Avare
• • • •
Park Seven: ‘Bungalow in the Sky’ with only 1 unit per floor. One KL: private swimming pool for each of the 94 unit. Room services provided by the Mandarin Oriental Hotel. The Binjai : Highest absolute selling price. RM 38 million (RM 2,700 psf) for its 14,300 sq ft triplex penthouse (sold in 2010). The Avare : with its own 24-hour concierge, secretarial services, residential butler and personal limousine services.
Iskandar Malaysia
• Lately developers have developed a lot of interest in Iskandar Malaysia. • Major developers such as Sunway, WCT, Encorp, Mah Sing are already making their presence felt there. • Hotspots include Medini in Nusajaya and Danga Bay in JB City Centre. • Development lands in Medini and Danga Bay are currently priced between RM 300 to RM 400 psf, as tabulated in the following table; 1) 2,217 sq km (3 times larger than Singapore) 2) Covers 6 local authorities; • Majlis Bandaraya Johor Baru • Majlis Perbandaran Johor Bahru Tengah • Majlis Perbandaran Pasir Gudang • Majlis Perbandaran Kulaijaya. • Nusajaya • Majlis Daerah Pontian (partly).
Date
Location
Vendor
Buyer
Acre
Price (RM million)
Dec ’12
Danga Bay
IWH (Iskandar Waterfront Hldg)
Country Garden (China)
55.1
RM 900 (RM 376 psf)
Jan ’13
Puteri Harbour
UEM Land
Liberty Bridge
43.9
RM 401 (RM211 psf)
Feb ’13
Danga Bay
IWH (Iskandar Waterfront Hldg)
JV Capital Land, Temasek, IWH
70.9
RM 871 (RM 261 psf)
Apr ‘13
Puteri Harbour
UEM Land
South Marina (Kuok)
12.5
RM 182 (RM334 psf)
Sunway Group
Sunway Iskandar • Sunway Group is going big in Iskandar with approximately 1,800 acres of land available for development. • The lands are not located within the proper Nusajaya area. • All parcels are JV 60:40 basis with Iskandar Investment Holdings with Sunway holding the larger share. • Like most developers, Sunway is banking partly on the Singapore’s market where house prices are between 5 to 6 times the cost of similar units in Johor Bahru.
Summary of Sunway’s Land Purchase No
Zone
Acre
Purchase Price
1
Medini Zone F
691
RM 745 m (RM 24.75 psf)
2
Pendas North
412
RM 221 m (RM 12.05 psf)
3
Eastern Pendas South
300
RM 184 m (RM14.07 psf)
4
Western Pendas South
366
RM 191 m (RM 12.05 psf)
1,769
RM 1.34 billion
TOTAL
Sunway Iskandar’s Development Concept
• A duplicate of Bandar Sunway development concept. • 1,700 acres of mixed development with GDV 11.2 billion. • Integrated development of Education, Hospitality, Healthcare, Theme Park, Residential and Retail. • 30% dedicated open space (580 acres). • 7 km of riverfront development. • Planned direct access to Second Link Highway.
Cost to operate some common household appliances.
The cost* of operating household appliances for 1 hour are summarized in the following graphics;
*Cost Calculation Wattage * TNB Rate /1,000 (assumed TNB rate is RM0.29/kWH) Example; 850w x 0.29 /1,000 = RM0.24 per hour Exception for Refrigerator. The higher wattage is during peak usage (compressor is running). Most of the time, it will run at a lower rate.
1,000w (RM 0.29)
750w (RM 0.21)
150w (RM 0.04)
1HP : 800w (RM 0.23)
850w (RM 0.24)
550w / 150W * (RM 0.04)
95w (RM 0.03)
450w (RM 0.13)
40w (RM 0.01)
Sample Cost for Monthly Electricity Bill
Appliance
Units
2-Door Refrigerator
1
Air condition (1 HP)
1
Television
Watt
550 / 150*
Usage Cost / Month (hour / day) (RM) 24
61.56
800
10
68.40
1
150
5
6.41
Iron
1
1,000
1
8.55
Rice Cooker
1
750
0.75
4.81
Kettle
1
850
0.5
3.63
Washing Machine
1
450
2
7.70
Fan (Ceiling)
2
95
7
11.37
Lighting
10
40
5
17.10
TOTAL * Assumed average watt for refrigerator is 300W
189.53
Ever wondered why an acre is 43,560 sq ft instead of a round number like 40,000 sq ft? • Many versions of the story but the plausible one is as follows; During the middle ages, an acre was the amount of land plowed by one man behind one ox in one day. An acre would normally be divided into 4 smaller parcels. Each parcel measured 4 rods by 10 rods (1 rod equals 16.5 feet) . In a typical day, a farmer would be able to plow 4 parcels. 4 parcels : 165 ft x 66 ft x 4 = 43,560 sq ft.
1 Acre Divided into 4 Parcels Parcel 1 Parcel 2 Parcel 3 Parcel 4
Typical Individual Parcel Size 10 rods (165 ft) 4 rods (66 ft)