Dear Ada,
The location of St Mary is better than Verticas because it is located in the Central Business District. However, due to the vast supply of condominiums most quality tenants tend to choose those near the KLCC and embassy areas. The yields for condominiums are around 4% to 5% provided you are able to rent out. The more popular units are 1 bedroom (750 sq ft not soho), 2 bedrooms (1,000 sq ft)or 3 bedrooms not larger than 1,800 sq ft. The challenge about new projects is that once completed, you will be competing with many owners to secure tenants. You might take a very long time to rent out unless you cut down the rents. Whatever condominiums you buy now will only appreciate in the long term. The speculation on short term capital gain will depends on your entry price. Anything above RM1,200 per sq ft will have less upside. There are completed and existing condominiums going below RM1,000 per sq ft and some are yet to be rented.
You may want to consider buying a ready unit with existing tenant. Do email me at davidwong@quantumrealestate.com.my if you need further advise.
The normal fee for securing tenants is 1 month's rental + 6% Government Service Tax.
Thank you
David Wong (mobile+60193330573)
Principal
QUANTUM real estate
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