Pantai Sentral Park Secoya Residences at RM780 psf

Reported in The Star on IJM’s Pantai Sentral Park development. The first phase Inwood Residences was RM100 per sq ft lower and second phase called Secoya Residences is now at RM780 per sq ft. Phase One (Inwood Residences) has been fully sold, for the non-bumiputra units. Pantai Sentral Park is a 58-acre integrated development right next to a 200-acre forest called Bukit Kerinchi.
Its managing director Edward Chong Sin Kiat said the market remains challenging but the demand is still there. In fact he said something really true. “Customers are more selective now when it comes to the pricing, location and unique selling point of the houses.” However, he said that IJM is doing its best to offer a price that was appealing enough to buyers even though the construction costs have risen. IJM Land is targeting to sell all the non-bumiputra units for Secoya within one year. It offers units with sizes ranging rom 1,050 sq ft to 1,670 sq ft. The main attraction is that the location is considered prime an there’s a 200-acre forest right next to it.
I still think for these homes which are above the usual middle class, the target is at least those married couples whose combines incomes are at least RM12,000 or higher. Even for these couples, buying such properties would meant both of them cannot be driving any luxury cars. Here’s an example of how much the couple may have to pay on a monthly basis. I put the loan at 80 percent to be conservative because there has been numerous cases where banks are giving only 80% loan for some applicants. If the buyer is able to get a 90% loan, then the repayment is RM3,830 instead. Another RM400 extra. Please do note that besides this, the buyer would also have to pay maintenance fees too. According to The Star, the maintenance fees are 35 sen per sq ft which meant that even for the smallest unit, it would be RM367.50. Buying for own-stay should be an enjoyable one as long as one is not paying through the nose. Happy deciding.
written on 21 Sept 2015
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