PROPCAFE Review: Park Place @ Desa Parkcity By Perdana Parkcity

PROPCAFE is “Senior” enough to witness the challenging period of Desa Parkcity when it first launched the SAFA project. It was a conventional terrace property project with individual title that priced slightly above the market price in Kepong during the sluggish property market environment.

Oh, Kepong Address and High Maintenance Fees

Many argued about the worthiness of DPC premium price, pointing the Kepong address which was not enticed to most mid income group, not to say high-end affluent market. It makes perfect sense 15 years ago as Kepong wasn’t the place to go and you would not see the lake, commercial waterfront outlets, or anything “beautiful” at that time. What presented to you by a relatively new and unknown east Malaysia developer at that time was just a “masterplan”.

The other hurdles that time in DPC was the maintenance fees for the rare gated and guarded landed properties when most of the landed property owners yet to know the value of such concept especially they hardly pay anything like this (3-storey Zenia maintenance fees was quoted more than RM600 and everyone was jumping!). This had stopped many to venture into this township. Today, it is a norm to pay rm500-1000 even for highrise property. Those bashed the DPC properties in the forum (oh, still remembered the myrealestate.com.my?) who doubted such high maintenance concept for landed properties was proven wrong by the market trend over last 10-15 years. With all the above, please give some credits to those who jumped in that time instead of branding them “LUCKY”! 🙂 They deserved the reward of 3 times more valuation today.

Masterplan, Trust and Visionary

You need to be very visionary and extremely confident on this developer to jump into Desa Parkcity 15 years ago. PROPCAFE might not a big fan of Kepong location that time but was in love with the concept and environment here. Firstly, it has a higher ground than the nearby vicinity which formed the trait of higher end properties (please take note on this as your future property selection criteria 😉 ). Secondly, we were impressed by their masterplan and concept, especially the lush greenery and landscape works surrounding the park that already completed in year 2006 when we visited the vacant possession of Southlake. By walking around the park (yup, dried lake and waterfront work-in-progress), we were very optimistic that this place would become something unique to Klang Valley properties. The rest is history.

Game Changer – Landed Strata Title Property

The most decisive and correct strategy from Perdana Parkcity was to create the differentiation by offering the landed strata title properties to the market, which was rare and new in early 2000. The Developer knew that if they didn’t do it, the township will just be another “Taman” with all awkward rainbow color properties (opps, you may still see it in South Lake and Safa :-?, thanks to its individual title ).

Unlike Bungalow development, it is hard to up the game in terrace to offer and attract buyers or own-stayers who like uniformity without the concern of neighbours’ weird renovation taste while sharing the condo equivalent facilities in landed property environment. Their success of Parkhome resort theme  properties like Nadia, Adiva, and Adora had proven the demand in this segment. This has inspired the developer to launch more modern park  homes like Zenia, Casaman and Mansion. Kudos to the developer which dared to offer such products, of course with the premium as well. Those “brave” buyers would definitely remember the weird DMC and parcel definition from developer which was based on the sample of highrise properties. 

PROPCAFE has covered many Desa Parkcity reviews so, this time we will not talk about “How Nice” Desa Parkcity is again. Instead, we will emphase the “product” of Park Place and some reality checks for Park Place fans and buyers.

Park Place @ Town Center

The 54 -storey Park Place is sitting at 4.55 acres freehold land which offering 537 units for those who loves to enjoy the communal living. Thanks to pandemic in 2020, everyone wants “more space” at home andespecially breathing space  in common areas.

This article will be written in different way, unlike our previous reviews. We will dissect the Positive and Negative part of this development directly rather than sharing the development information (which can be obtained in Developer’s comprehensive website). Too many online articles have published the same O same O information and mostly for journalism purposes. Don’t expect PROPCAFE to write fancy languages or bombastic words to describe the project, it is not PROPCAFE’s DNA. This article will go straight to the points and share PROPCAFE’s mind. Yup, to figure out the pro and con of property for everyone to make decision in sales gallery. To buy or Not To Buy?

Location (General)* – Positive

Park Place has the benefit of its location in Desa Parkcity which located between two lakes and two parks. The exact location is right besides Safa and opposites the Sport Centre and Dog Park. A plus point for dog lovers 🙂 . In general, the location is pretty strategic and within walking distance to key amenities in the township. Perfect? Not really. See the specific location discussion (comparison with other parcels in DPC) in later section. 

New Recreation Park and Lake in Parkcity Town Center – Positive

Park Place is neighboring with the newly unveiled lake (current water retention pond). Once it is beautified, it will be the recreation park and lake for the town center visitors and residents in Desa Parkcity (see scaled model below). When comes to landscape surrounding the lakes, you do not need to doubt about the developer’s execution. Good news to Park Place owners.

Facade – Positive

Park Place facade is a combination of One Central Park and South Brooks. It is very neat and very “Singaporean”. It doesn’t add unnecessary variants like One Central Park’s balcony or South Brooks’ curvy edges. It is just about right to make the clean facade less boring with the add-on structures for the Sky Garden at higher floor  (41 and 42 floor). 

Layout – Positive

There are 100 units of 2 bedder (1109-1173sf), the rest  of 437 units are 3 bedrooms and above (1367 – 4047sf). There are nothing much to complain about the layouts which developer has improved tremendously since the launch of Westside Three (not a fan of their layout design in early developments). Bedroom natural sunlight, balcony, yard, kitchen, and horizontal living + dining space are properly designed. Smallest units (Type A and B  – 2 & 3 bedder unit) have minimum two car park bays and 3 carpark lots are given to bigger size units. See the floor plan and layout here.

Park Place @ ParkCity TownCenter Floor Plans

Purposefully Built – Key Success of Park Place! – Positive

PROPCAFE will share more about this as we see this as the key factor to lure the buyers of this development. The developer is definitely spot on to create many hangout and chills areas for residents, both in-door and out-door. It comes in a perfect time to sell this product in this “memorable” pandemic time. 

The architect and developer studied the need of new generation living by building homes with seamless flow and interaction of elements in leisure, social pursuits, and well-being. This is absolute key for this development when all of us are suffering the “Stay at Home” order. Everyone will pay attention on their home more nowadays as they will stay at home longer. Suddenly they will also need more space for their communal living lifestyle.  The attention to detail on this aspect has set a different standard to the market on how to curate the environment for the new generation Gen Y and Z segement. It is all about having the space outside your units and developer definitely understands that. See some of the great features below:

Private Lounge Mall  – Elegant Taste and Individual Space

Outdoor Garden Deck – Chill with your families and friends if you are outdoor person

Work Loft – Work-From-Home? No longer within the four walls. Absolutely love it!

Concourse Hall – You cannot find a better place to wait and invite your guests to come over your lovely home. This double volume hall is stunning! 

Sky Garden – “Extend the Home Out, Usher the Outside In”. Many hang out spaces are here for you to chill.

Outdoor Hammock – For those who need inspiration and creativity, this space will be perfect for you to work or study! Chills? Yes, there are many other spaces for you. Keep reading it.

Movie Room – Own cinema with friends and families! Netflix from home to comfortable movie room here!

Activity Hall – What a great idea from developer to create this space where many comunnal activities can take place here. Fancy a performance here? 

Creativity Plateau and Outdoor Lounge – Want to do the hang out activities and performances outdoor instead of indoor activity hall? Here you go!

Multi-Purpose Hall – A great place for your special occasion!

Music Room – Not enough space to enjoy the performance of your home musician? You have the best atmosphere here to celebrate the music!

Games Room – With your friend and families members. Games ON!

Private Study Area – Library space for study and discussion. Guys, don’t you think it is hard to focus your study if the place is way too comfortable? Especially with the look out full ceiling height window 😛 .

Swimming Pool  and Gym – That’s the standard requirement for all high-risess. The difference is always in the details. Desa Parkcity will hardly disappoint you on this, solely based on our experience here.

Forest Porte Cochere – Wow, sound so high end 😛 .  It is just the drop-off lobby anyway. 

Pricing – Neutral

In general, Park Place is priced at about RM900psf up. Expensive? Well, it depends. If you compare it with Park Regent launch price and One Central Park’s market price, the price of Park Place is in 20-30% discount. However, it is priced at 40-50% more expensive than South Brooks. Of course, we know that the quality and density of these developments are in different levels but from investor point of view, the competitive advantage is quite crucial to survive in the future rental and sub-sales market i.e. affordability in different segments. Park Place’s segment is in between the above mentioned which is quite tricky. Having said that, with the concept and communal living components in Park Place and its relatively good location, to price it at current market price of Westside Three i.e. RM900psf is in fact a fantastic deal. In the end of day, it really down to its relative value within the township.

Location (Specific Comparison) – Neutral

Although all sound good, PROPCAFE still prefer the location of North Shore and One Central Park as it is closer to community mall and away from the town center which will be the place for commercial activities with many external visitors. The worse is the noise generated from the pub restaurants there. Try it at night, you will know why Safa residents are complaining it.

The developer is very transparent on its plan here i.e. toward town center is all about commercials (see Town Center’s Plan in our previous review) and the another side of Desa Parkcity will maintain as resident community environment. Not to be too negative on Park Place, at least it is still pretty much part of the central park area and in between Arcadia and Waterfront. Probably, we can say owners will get the best of both world as long as you can accept the noise :). In the end, it is all come back to your preference. If you want to be away from commercial and external visitors, Westside series and South Brooks will give you that with much quiet environment with a less crowded West Park.  For those want in between commercial and secluded residential area, then OCP and Northshore will be your choice. For those who love social activities and vibrant atmosphere, Breezeway and Park Place are there for you. Choice is yours!

View – Neutral

Park Place, unlike One Central Park, Park Regent and Northshore, it is at the border of Desa Parkcity. It means one part of the views will be facing outside Desa Parkcity, in this case, facing Manjalara Township. If you go high enough, the view will be still very decent. Of course, you have better side to choose i.e. facing Arcadia and new development (near the new lake). Lastly, the best is toward the central park. You may take a look the 360 degree view video below. A point to note, facing external roads always come with more noise compare to inner road (which main entrance will be closed in midnight). Please take note that there are few  town center 5-storey commercial retail blocks planned  besides this development so it may not be as green as you see in the video below.

Density – Negative

537 units in 4.55 acres translates to 118 unit per acre density. Most of the old highrises in Desa Parkcity have the density of 80-90 units per acre (please see detail in our South Brooks Property Review) except Westside Three (110 unit per acre) and South Brooks (128 unit per acre). The density of Park Place is rather high given the fact that it is easily 40-50% more expensive than the launched price of South Brooks and Westside Three which were launch not too long ago (last 5 years).

Name of the Project – Negative

Parkcity Perdana is always good in naming their project with elegant elements – the mix of English or Malay names e.g. Adiva, South Lake, Adora, Zenia, Amelia, Casaman etc. Unfortunately, the naming of Park Place is a bit off. It sound like “Parking Place” and quite mouthful as well. It could be just our personal preference though, anyway it is still better than a very common and boring name of Park Regent . 

No. of Lift – Negative

Only 4+1 lifts to be shared by 537 units and mostly family size units. PROPCAFE always set the benchmark of 100 unit per lift as the pain threshold. Be prepared to wait for long during peak period. While it is rather standard for rm500-600k or RM600-700psf property, you may want more when you are paying more than a milion or near to RM1000psf. Separate zoning of lift system may help. 

Noise – Negative

You may like the fact that Park Place is next to Arcadia which mean it is very convenient for residents. However, the killing part is during night time. Arcadia hosts many pub restaurants and the most nosiest few are actually facing toward Park Place. Some of the annoyed Safa residents might be happy to see the noise to be blocked partially by Park Place soon 😀 . Pick the right unit with right direction to avoid it if possible.

No Roof Top Garden – Negative

Desa Parkcity hardly built roof top garden, with the exception of South Brooks. Those who really enjoy the TOP of the roof will be disappointed this time. Well, think positively, at least there is sky garden at the high floor. 

Car Park Podium – Negative

Separate carpark podium is always the negative point for Desa Parkcity’s highrises. Due to the quarry land, the cost is relatively high to build basement carpark bays.  Unless you are willing to pay 20-30 percent more for Park Regent, you need to accept the fact that you may need to walk more, carry your staff and take at least two lifts before you can reach your lovely home. Try to find out your unit’s carpark lots and pray not to have it at the end of the podium. Note: Link bridge from the podium to the building will be at level 6.

Forest Entrance & Guardhouse – Negative

A little bit too plain, no? Let’s see how the developer adopt the landscape to generate the vibe.

Future Maintenance – Negative

The expected maintenance fee is indicated as RM0.44 psf. It is consistent to most of the fees in other parcels in Desa Parkcity. However, this development has many “extra spaces” to take care. All great communal living spaces (above) come with a cost (to maintain and upkeep it). Beautiful things always hard to maintain (We say it many times). So, don’t complain about the fees  increment in future. 😉 

Future Prospect of Park Place 

PROPCAFE is not surprise to see the record take up rate (87%) when it launched in September 2020. So many hoo haa about this launch. It also attracted property “expert/ guru” to comment the emotional buy on this project. PROPCAFE sees this as great buy for ownstay and long term property investment which may not meet property guru investment criteria.

Let’s use the guru’s points and put in the perspective of this development.

(1) To get below market value property – You will not get it here (at least for time being). Park Place has been priced at a similar RMpsf level of Westside Three market price, 40% higher than South Brooks and 30% lower than Park Regent (the highest end condo in Desa Parkcity). Given the quality and detail from developer on this project, it could properly match the standard of Park Regent. Park Place is placed in top-tier property in Desa Parkcity with the mid to high-tier price. The premium will always be there against the old condominiums here. As long as the organic growth sustains in Desa Parkcity, there is still room to catch even for investment. Well, short term investors, this is not your play ground. 

(2) To get cheaper price than the similar development or location/area. Are you kidding me? Where do you find the second Desa Parkcity to compare? Different area has its own intrinsic value which is uniquely attracted to certain group of ownstayers. It means the sustainability will command the value of these properties. Property is not a Stock (company), the intangible and emotional elements play a big part of the property value.

 (3) Booming area with creation of job opportunity. Apa ni? The high end property enclave does not require such factor. Harlo, those who made it in their life are the target segment of this property. Yes, they will come here instead as long as you get them the dream environment, not the dream job.

(4) Supply issue. Yes, more supplies in Desa Parkcity in next couple years. However, developer is very smart to play their game with different offerings over the last couple of years. Park Regent, South Brooks, and Westside Three were launched for different segments and pricing. The older condominiums are also occupied well (drive around to see the lights of the units at night). Those who want to start their life (entry level)  in Desa Parkcity can always hunt for these old properties like Nadia, Westside One & Two. The best part is, the developer always well timed the completion date of each development and provide time for market to absorb the supplies. Risk is there, but it is acceptable which is part of parcel in property investment. Ownstay, who care about supply for next 10 years? Lol. 

(5) Breakeven for rental? Well, 3 bedrooms highrise here is going around RM3.5-4.5k per month depend on furnishing. With 3 bedroom unit in Park Place and having 70% loan of RM1.2mil property (RM840k), you may not be too far away to get it breakeven. However, bear in mind that rental may drop with the age of the property most of the time unless it is maintained superbly well. Anyway, rental is following the trend of property price here as well so, things may change. 

(6) Use the property in different ways? Most of the  management committees in Desa Parkcity banned the airbnb to preserve the value and ensure security of the residents. Investors need to aware that the long term property value can be destroyed by the home stay operators. You will laugh if someone tell you that they intend to do partition and split the rooms to accomodate more tenants and generate more rental income in DPC. Investors here are in different game and holding capability. Desa Parkcity is just not the place for this and investors here know their own games. 

Park Place, just like other properties in Desa Parkcity, is for long term play with organic growth given its relatively high price now. If you believe the future potential (new elements) in Desa Parkcity with the new recreation area and town center development, Park Place is the one for you. It is reasonably priced at the right level which reflected in the high take up rate. Many buyers do feel that they are paying market price and getting a premium product. PROPCAFE kind of agree with it. However, put the emotional aside, it is good to know the “Negatives” highlighted above and make the best decision based on your own preference and appetite. All the best and we look forward the completion of South Brooks in Desa Parkcity. See you then!