Cabana
Half-size Basketball Court
Gymnasium
Swimming Pool
BBQ Area
Wading Pool
This Is Me. ^^
Common Area
Landscaped Garden
Deck Area
Wednesday, April 7, 2010
Casa Kiara II
Cabana
Half-size Basketball Court
Gymnasium
Swimming Pool
BBQ Area
Wading Pool
This Is Me. ^^
Common Area
Landscaped Garden
Tuesday, April 6, 2010
Show Unit in Casa Kiara II, Mont Kiara
Status: Completed
Completion: November 2009
Tenure: Freehold
Developer: Amisia
Type: 37-Storey Condominiums
Total No. of Units: 206
Build-Up: 1,375 - 1,574 sq ft
Price Range: RM732,000 and above*
Completion: November 2009
Tenure: Freehold
Developer: Amisia
Type: 37-Storey Condominiums
Total No. of Units: 206
Build-Up: 1,375 - 1,574 sq ft
Price Range: RM732,000 and above*
| 1 Apartment block 2 Swimming pool 3 Barbeque pit 4 Gazebo 5 Children's playground 6 Tennis court7 Half basketball court | 8 Gymnasium 9 Children's wading pool 10 Cafe 11 Men & ladies changing room 12 Kitchen 13 Function room 14 Reading room | Others • Broadband-ready cabling system • Hi-speed lift service • Grand lobby and lift area • Convenience shop • Launderette |
Location???
It is located beside VERVE Suites and Hijauan Kiara.
I did visit the condominium and took a look at its show unit and common area. What I like about this condominium is the swimming pool is facing forest. However, I do feel that this selling point will not last long. I bet sooner or later the piece of land next to the condominum will be developed.
Apart from that, I checked the market value of this condominium. It is around RM450 psf. You may ask why the developer price is higher. Check my previous post about my explanation on market value and developer price.
(adapted from Dijaya Corporation)
Saturday, April 3, 2010
Graduate Route to Register as RICS Member
Required experience at enrolment
- None
Required academic/professional qualifications
- RICS accredited degree or currently studying towards one
APC requirements
- 23 months' structured training to meet competency requirements, with a minimum 400 days' experience recorded
- Regular meetings with supervisor/counsellor
- 96 hours of professional development over structured training period
Final assessment submissions for first time candidate
- 'Signed off' mandatory and technical achievement records
- Logbook
- Record of professional development over the last 24 months
- Critical analysis (3 000 words)
Final assessment
- 60-minute interview including 10-minute presentation on critical analysis
- Testing on professional practice/ethics
(adapted from RICS)
How to Become a Real Estate Appraiser
I have been wanting to work as a property appraiser. At first, i thought it would be simple - Study Master degree, work for 2 years under as a trainee and take examination to become a registered one. Wow! But after reading this article, I still have a very long way to go. Things are never as simple as I think. Below are the steps how I should become a registered one.
At the first stage, check with state's licensing board to obtain a 'trainee' license. The licensing board can be RICS or ISM. Find out the list of classes you must take to get to this first step. Then find where local or on-line schools are that give classes for your trainee license. It is important to find out the licensing and requirement for your country. The requirement will vary.
Next, work towards obtain your trainee license. This is usually done by taking classes and passing a test, and/or having some experience in appraisal work.
-If you intend to go for schooling, Research what type of appraisal work you wish to pursue. There are many areas of appraisal such as residential, commercial, and land or other, more complex, property valuations.
-Take the appropriate coursework. You will need a specified hours of appraisal coursework before you can take the state licensing exam.
After getting trainee license, find an appraiser who can be your mentor. You'll need a 'supervising' appraiser to teach you the tricks of the trade and to help you with your experience hours that you'll need to complete. You may need two or more 'supervising' appraisers to help you on your journey. You'll need a supervisor though to sign all of your work as a trainee.At the first stage, check with state's licensing board to obtain a 'trainee' license. The licensing board can be RICS or ISM. Find out the list of classes you must take to get to this first step. Then find where local or on-line schools are that give classes for your trainee license. It is important to find out the licensing and requirement for your country. The requirement will vary.
Next, work towards obtain your trainee license. This is usually done by taking classes and passing a test, and/or having some experience in appraisal work.
-If you intend to go for schooling, Research what type of appraisal work you wish to pursue. There are many areas of appraisal such as residential, commercial, and land or other, more complex, property valuations.
-Take the appropriate coursework. You will need a specified hours of appraisal coursework before you can take the state licensing exam.
Get a trainee job at a real estate appraiser's office. This is one of the best ways to see if you really like appraising and to find out what appraising is all about. To the education requirements you will need specified hours of work experience as an appraisal before you can take the licensing exam.
Get a trainee position at a bank. Banks and savings and loans of all sizes hire trainee appraisers who have obtained their trainee licenses right off the street. It's a great way to get paid and get an education at the same time.
Network. Do what you can to work with or for other older and experienced appraisers in your area. Give them an incentive to hire you.
Find a loan broker you can work with to obtain work. Since most of our work is for a bank loan, find the people giving the loans and talk to them. A good relationship with a loan broker will go a long way.
As a trainee, your pay will be minimal until you obtain your normal license. It may take many months.
Take the state licensing exam when you have completed the educational and work experience requirements. Getting licensed is the first step in becoming a qualified property appraiser.
Get your real estate sales license even if you do not intend to work in sales. Your sales license may be needed to obtain MLS data for your appraisers.
(adapted from wikihow.com)
Thursday, April 1, 2010
How Valuation Is Done?
As I am building graduate and still in learning stage in property field, I start learning giving Verbal Indication to the bank. Below is an example on how valuers calculate the value of terrace houses.
Assume that this is a corner and basic (no renovation) unit.
Subject property:
-Land Area: 2,600 sf
Assume that this is a corner and basic (no renovation) unit.
Subject property:
-Land Area: 2,600 sf
Based on the latest transaction, a standard terrace house at the similar area is sold at RM280,000 with build-up 1,400 sf. Let assume the property is medium-cost property. Medium cost property will cost RM65-70 psf.
Building:
Main Floor Area: 1,200 sf x 70 = RM84,000
Ancillary Floor Area: 200 sf X 35(half of 70) = RM7,000
Total = RM91,000
RM280,000 - RM91,000 = RM189,000
RM189,000 is the value of the land the property on.
RM189,000/1,400psf (land) = RM135 psf
Land:
Standard Land: RM135psf x 1,400 sf = RM189,000
Extra Land: RM67.5psf (half of RM135psf) X 1,200 sf (2,600 sf - 1,400 sf) = RM81,000
Total = RM270,000
Corner Allowance:
RM270,000 X 10% = RM 27,000
RM27,000 + RM270,000 = RM297,000
RM287,000 adds building cost,RM91,000 = RM388,000
I hope you can get a good picture with the calculation.
Building:
Main Floor Area: 1,200 sf x 70 = RM84,000
Ancillary Floor Area: 200 sf X 35(half of 70) = RM7,000
Total = RM91,000
RM280,000 - RM91,000 = RM189,000
RM189,000 is the value of the land the property on.
RM189,000/1,400psf (land) = RM135 psf
Land:
Standard Land: RM135psf x 1,400 sf = RM189,000
Extra Land: RM67.5psf (half of RM135psf) X 1,200 sf (2,600 sf - 1,400 sf) = RM81,000
Total = RM270,000
Corner Allowance:
RM270,000 X 10% = RM 27,000
RM27,000 + RM270,000 = RM297,000
RM287,000 adds building cost,RM91,000 = RM388,000
I hope you can get a good picture with the calculation.
Unit in The Ara, Bangsar
Front View of The Ara
Carpark
Master Room & View of Swimming Pool from balcony
Toilet & Maid Room (the maid room is bigger than my room ==")
View of other units
Balcony & Bedroom
Jacuzzi in Bathroom & Walkway to Garden
Master Bedroom
Bedroom & Kitchen
Private Lift (I like it so much)
Pool & Laundry Room
Private Living Area & Guest Area
Wednesday, March 31, 2010
Condominium or Landed Property?
Lately, I have been arguing with my mom about buying property. I suggested her to buy condominium. However, she does not like my idea. She prefers landed property. Except staying in condominium is dangerous, she hates the trouble of having to take lift up to home once you park the car. What I found amusing is she also mentioned how troublesome it would be if your friends or relatives have to go through security and take lift to go up to your home. It may end up losing friends or relatives to pay a visit to you. I realised that whatever she said made sense.
However, I asked her further question. The property is for investment or own stay? Whatever she said above is so obvious that she buys for her own stay. Many people wonder which type of property is good for investment and own stay.
If you wish to go for investment, buying condominium is the best. However, you must consider the surrounding of the condominium. If you buy a unit in a condominium in area near to colleges, universities or train stations, you may have your units rented out quickly. For example, you buy a property with RM250,000. If you do survey and find out that market for rental is RM2,500, then the investment return from rental of this property is very good. It is because market value for rental of a property worth RM250,000 would be around RM1,200 to RM1,500. Apart from that, maintenance is taken care by the developer. So it could be less hassle. Apart getting high investment return from rental, you can go for swimming, gym and other activities at anytime, saving the money of joining any clubs.
Of course if you want to live under glamour life style and enjoy using the facilities in condominium, you can go on buying a unit in condominium. It solely depends on your need.
If your intention of buying a property is for own stay, you are advised to go for landed property. Own stay is a long term planning. You may want to pass to your children. If you buy a property in a freehold land, the property will worth more. Landed property home will also get old but the land will appreciate over time. Landed property home also has more privacy.
In a investor' point of view, landed property will appreciate better than high-rise. The main reason - land tends to grow scarce in times to come, as development and resident population quickly catches up. Thus, the larger the population, the more rapid the development, the more expensive prime land costs. Not to mention, the cost to reuse former high-rise land will always be higher than the cost to reuse lands that once were landed property (houses or structure less than 2 or 3-storey high).
People say that landed property will appreciate better as compared to condominium. In my opinion, there is no saying that landed property will appreciate better than condominium. In my working, as I do verbal indication for the bankers when they call in, I realise that many landed property does not appreciate much. They even maintain the same market value 10 years until now. I also encounter cases when the market values of condominiums appreciate RM300 psf in a year. Mostly, it only happens for condominiums in Kuala Lumpur city centre. Again, it solely depends on your sight and perspective about potential development or area. Of course talking about long term, landed property will appreciate greater than condominium as condominium will depreciate over time.
However, it doesn't matter if you're a house buyer or an investor. It is common knowledge that the property life expectancy of a landed property will definitely outlived those of a high-rise property. A condominium or an apartment will see its value depreciate after a certain period of time (usually when it is no longer new, or safe to live in), while a landed property will still have its land’s value, which will rarely depreciate over time.
However, I asked her further question. The property is for investment or own stay? Whatever she said above is so obvious that she buys for her own stay. Many people wonder which type of property is good for investment and own stay.
If you wish to go for investment, buying condominium is the best. However, you must consider the surrounding of the condominium. If you buy a unit in a condominium in area near to colleges, universities or train stations, you may have your units rented out quickly. For example, you buy a property with RM250,000. If you do survey and find out that market for rental is RM2,500, then the investment return from rental of this property is very good. It is because market value for rental of a property worth RM250,000 would be around RM1,200 to RM1,500. Apart from that, maintenance is taken care by the developer. So it could be less hassle. Apart getting high investment return from rental, you can go for swimming, gym and other activities at anytime, saving the money of joining any clubs.
Of course if you want to live under glamour life style and enjoy using the facilities in condominium, you can go on buying a unit in condominium. It solely depends on your need.
If your intention of buying a property is for own stay, you are advised to go for landed property. Own stay is a long term planning. You may want to pass to your children. If you buy a property in a freehold land, the property will worth more. Landed property home will also get old but the land will appreciate over time. Landed property home also has more privacy.
In a investor' point of view, landed property will appreciate better than high-rise. The main reason - land tends to grow scarce in times to come, as development and resident population quickly catches up. Thus, the larger the population, the more rapid the development, the more expensive prime land costs. Not to mention, the cost to reuse former high-rise land will always be higher than the cost to reuse lands that once were landed property (houses or structure less than 2 or 3-storey high).
People say that landed property will appreciate better as compared to condominium. In my opinion, there is no saying that landed property will appreciate better than condominium. In my working, as I do verbal indication for the bankers when they call in, I realise that many landed property does not appreciate much. They even maintain the same market value 10 years until now. I also encounter cases when the market values of condominiums appreciate RM300 psf in a year. Mostly, it only happens for condominiums in Kuala Lumpur city centre. Again, it solely depends on your sight and perspective about potential development or area. Of course talking about long term, landed property will appreciate greater than condominium as condominium will depreciate over time.
However, it doesn't matter if you're a house buyer or an investor. It is common knowledge that the property life expectancy of a landed property will definitely outlived those of a high-rise property. A condominium or an apartment will see its value depreciate after a certain period of time (usually when it is no longer new, or safe to live in), while a landed property will still have its land’s value, which will rarely depreciate over time.
(adapted from estate 123)
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