Ipoh property has always been rather slow to get, with little capital growth. But lately it has changed. I am not discussing the gradual and gradual capital understanding we see with bank or investment company materials and interests costs. Ipoh property prices in the 80s and 90s has been known to even come down especially through the economic downturn. However, before few years, the certain specific areas around Tambun has been seeing some sort of boom.
The Haven Residences is one such project. It consists of 3 blocks of 26 stories, with almost 500 models built around a kart limestone set up, filled with a lake. It is located along Jalan Tambun en-route to the infamous Tanjung Rambutan someplace. The drive for the project runs through cooling and fresh green mountains, which will hopefully stay. Opposite the entry to the Haven Directly, there are these new vacant shophouses. A significant risky undertaking as these commercial devices will largely rely on the occupancy of the Haven and a neighboring medium cost apartment as there really isn’t anything else in the vicinity.
The Best Western hotel group has just begun operations of 1 of the 3 blocks as a serviced apartment. Despite being a long way out of the town quite, the appeal within the organic is quite impressive. The pool, kid’s pool, and Jacuzzi by the lake are fully supported by the natural splendor of the limestone surroundings. However, I am not that keen about the greenish coat covering the buildings. A couple of 7 units on each floor – only 5 of these have the much-valued lake and limestone hill view.
- Financial Advisory
- Showing a choice for projects that deliver more quickly
- The original form of the Modigliani and Miller Capital Structure Theorem
- Put aside money for any occasion: Make it a yearly affair
- What is intended by
- 9% of GDP (2016 est.)
- Business Travel Expenses
- Insurance – That is for home insurance paid on your property
1 bedroom intermediate systems. 3 bedrooms are a little too much to squash into a 1172sf floor. And it shows in the layout. The living bedrooms and room feel and appear very narrow and small. The picture below, I presume if the master bedroom because among the two 2 en-suite rooms, it’s the only 1 with a long bath. But evaluating all the bed rooms, the ground space of the master bedroom probably experienced the most cramped.
Architecturally, to me the layout is unsatisfactory therefore. Very typical Chinaman design – seeking to pack too much and utilize as much space as it can be regardless of comfort. But this might be likely from any nearby purchasers in Ipoh. But the key appeal is not the accommodation but instead the facilities and environment.
Here you pay for lifestyle. A stroll across the lake is obviously very worth it and breathtaking. Despite being under-utilized as the apartments has just begun to be populated, some facilities like the changing room has began to fall apart. Hopefully, the rest of the facilities do not deteriorate further. Another kink is having less a sauna and fitness center.
With little in own resources, there is little that Ipoh provides any expats. So, who are the takers? There are the holiday makers that Best Western bring in Firstly. But they are mostly short-term stays. I cannot think of any longer. Typical of any small town where property and land are cheap, locals tend to see more value buying landed resources.
So, I think the asking price of RM2000/month rent may be a little steep to attract tenants about. This may drop in the foreseeable future as units continue steadily to stay vacant. But the amazing thing is, prices have valued over 100% from around RM300psf to over RM700psf today. This would go to show how a good concept may become a great investment over a brief period of your time.
The close by theme park by the Sunway group also appears to be well subscribed over this active weekend. So, in my opinion, the Haven is basically heading to be just for brief stay tenancies if any good returns should be expected. If a lease package from the very best American is not offered back, then I think any traders should be very practical to manage this property.