Puteri Hills (http://www.puterihills.com.my ) by IOI Properties, is located at probably the most organized and exclusive part of whole Puchong, with elevated grounds and organized development. It is located right at the end of Bandar Puteri.
Launching this Wednesday 18/9 at the IOI Sales Galleria at The Cube, it comprises 120 units of condominiums and 120 units of luxurious town villas.
Location is on the left hand side – right before the Puteri Bayu apartments. Do take note of the giant UFO right in front of the Puteri Bayu apartments – certain units in Puteri Hills will get this UFO view.
Early bird package includes 8% discount, DIBS ? Easy Payment Scheme (balance of 10% will be via credit note for the 8%, minus your RM10,000 – balance will be in 6 months time). The Easy Payment scheme will be similar to Skypod’s. For those who are interested in this scheme, and capped by LTV70%, you only pay the remaining 20% – spread out through the next 3 years. Paying each 5% at every 6-months interval.
There are total of a very limited 120 units of the condominium, with 8 units per floor.
Total of 3 lifts servicing the 8 units.
Each floor, there are only 2 – 1,400sf units, the remaining 6 are all the larger 1,700sf units. As the 1,400sf units are quite limited, do expect them to be taken up first (only 25% are 1400sf cheaper units).
Price for the smaller 1400sf units is expected to start from RM899k before the 8% discount
My personal take :
Expect the 1,400sf units to be snapped up fast.
There are limited number of ‘high end’ condo in this part of Puchong, it can cater to upgraders who are looking for condominium living.
Good for ownstayers – nice luxurious feel, quite neighborhood of Puchong, full facilities.
For investors :
Rather hefty pricing, despite a discounted RM580psf (wow, anything below RM600psf looks palatable these days!).
With this type of pricing, you will need rentals of above RM2,500-3,000 to break even. Doable in Puchong ? I doubt so.
Flipping – with the expected (rumoured) increase in RPGT, I wouldn’t be too gung ho on flipping strategies these days. And at a price of RM800++k what level will you target to sell ?
Puteri Hills also has Town Villas to sell, starting from RM1.7mio
Town houses at RM1.7mio, I hope they come with lifts as they are up to 4-storeys tall – from buildup of 3000sf +. There is already a completed model on site (not sure if it’s opened to public) – but rather boring and outdated don’t you think so ? When compared to something like, say – Duta Villa in Setia Alam ?
Show model (looks nice) :
Actual unit on site (do you guys think its nice ? worth the 1.7mio ? )
Prepare your cheque book if you are keen!