Investing in PJ Sterling Condo
The convenience store located inside of PJ Sterling
In view of the fact that Sterling@PJ has offered almost every amenities and facilities required by residents staying in the condominium due to its location, the concern in terms of the pricing, rentals and return of investments based on price comparison with one of its neighbourhood condominium, Kelana Mahkota Condominium are being researched. Kelana Mahkota Condominium which is also known as Kelana Mahkota is an intermediate class condominium is located beside Sterling@PJ and is built before Sterling@PJ in early 2005 by the same developer, SMI Cityhome Sdn Bhd. Since Kelana Mahkota is situated beside Sterling@PJ, the difference between them is only in terms of the amenities and facilities offered by the condominium to the residents staying in the condominium.
A brief description about Kelana Mahkota is it is a three block 23-storey condominium which composed of 712 units and takes up 6.63 acres of land to be built. There are different sizes of units ranging from 1260 to 1810 square feet in Kelana Mahkota. In fact, the average selling price per square feet of Kelana Mahkota is approximately RM300 per square feet. As an example, the smallest unit would cost approximately RM378,000 whereas the biggest unit would cost approximately RM543,000 respectively in Kelana Mahkota. On the other hand, the price of a smallest unit to a biggest unit in Sterling@PJ would would range from RM490,700 to RM665,700. Apart from that, the average rental price is approximately RM2,000 and RM2,500 for Kelana Mahkota and Sterling@PJ respectively. It can be seen that typical unit in terms of selling and rental price in Kelana Mahkota are cheaper as compared to Sterling@PJ due to the difference in lavishness. It is due to the fact that Kelana Mahkota units are a more popular preference within students studying around the area whereas Sterling@PJ units are a more preferred choice by family as their residence due to the pricing and the lavishness of the different condominiums.
Nevertheless, there are two main downsides for tenants staying in Kelana Mahkota. First of all, the car park for residents in Kelana Mahkota would get flooded whenever there is a rain. As a result, tenants have to park their car along the road which has the risk of getting scratched and summons as the road is not meant for parking. Moreover, there are some residents which have to pay a fee of RM80 in order to rent a free space in the condominium just to park their cars. Although the amount of money is not immense, yet it accumulates in the long run. Apart from that, the ownership of this Kelana Mahkota unit is all in the form of leasehold. On top of that, the leasehold period of the Kelana Mahkota units is rumored to be left with 80+ years despite the condominium is completed in early 2005. It is due to the fact that the land is being leased even before Kelana Mahkota has been built.
On the one hand, the comparison between the return of investment of Kelana Mahkota and Sterling@PJ are erratic. In my humble opinion, the value of Sterling@PJ would grow faster as compared to Kelana Mahkota due a number of factors such as the residents and the environment. In spite of the factors affecting Kelana Mahkota, the values of both Kelana Mahkota and Sterling@PJ would definitely increase by at least 20% in a few years time due to their locations and advantages offered while staying in these condominiums. In brief, the return of investment of both these condominiums is definitely superb as it would definitely bring back a good fortune to the investor. It is absolutely worth to invest in either one of these condominiums unit as it will bring the investor quite a good fortune within a short period of time.
Artile written by Juliana Liew