Setia Alam
Love At First Sight
I recently bought another house but unlike the previous one, this one is not for renting out as I intend to move in once it's completed. The house is in this new development by SP Setia called Setia Alam and it's located in Shah Alam.
I know, Shah Alam sounds friggin far right? Well, those were my thoughts initially, but after taking a drive there via the newly opened NKVE link which was built by SP Setia, I could begin to picture myself staying there. Via the highway, it only takes around 8 minutes from the Setia Alam toll to the Tropicana/Damansara toll. Bloody good if you asked me, it takes wayyy longer than that if I were to set off from Subang Jaya.
The Setia Alam development is also a huge one, comprising over 4,000 acres (one of the largest in the Klang Valley) to be developed over a period of 15 years. Now it is only the 3rd year into the development, so there's many more years of expansion and capital appreciation to come.
So Green Ahhhh
I was scouting around for a few months now for a suitable piece of property to buy, but most developments just didn't catch my fancy. When I went to Setia Alam however, I was really bowled over by its garden concept, with many green lungs and water features scattered throughout the development. The houses were nicely spaced out, the roads were really wide, every street was lined with a walkway, and they incorporated the increasingly popular 'green street concept' where there are no visible wirings or cables, and all the drains are covered.
Plus, the houses were very competitively priced. Especially when you think of what the same amount of money (RM270K) will get you in Subang Jaya/Petaling Jaya (not much!). Also, whereas Subang Jaya/Petaling Jaya are matured townships where the rate of capital appreciation has already plateaued, Setia Alam is still a very new development with many years of strong capital growth ahead of it. A gain of 20-30% upon completion, plus a year-on-year gain of at least 6% for the next 5 years is not too far-fetched.
What about my trusty old house?
It will be sad to leave my current house which has served me so well for almost 15 years. I initially thought of renting it out, but seeing how low the rental yields were in my area (approximately 2.5% net...arghhh!!!), I thought it'd be a wiser decision to sell it off, use some of the money to fully pay off my Setia Alam mortgage, and use the balance to invest in another property.
Anyway, those are just some of the plans. End 2008 is still a good 2 years away, and a lot of things could have changed by then. We'll see when the time comes :)
I recently bought another house but unlike the previous one, this one is not for renting out as I intend to move in once it's completed. The house is in this new development by SP Setia called Setia Alam and it's located in Shah Alam.
I know, Shah Alam sounds friggin far right? Well, those were my thoughts initially, but after taking a drive there via the newly opened NKVE link which was built by SP Setia, I could begin to picture myself staying there. Via the highway, it only takes around 8 minutes from the Setia Alam toll to the Tropicana/Damansara toll. Bloody good if you asked me, it takes wayyy longer than that if I were to set off from Subang Jaya.
The Setia Alam development is also a huge one, comprising over 4,000 acres (one of the largest in the Klang Valley) to be developed over a period of 15 years. Now it is only the 3rd year into the development, so there's many more years of expansion and capital appreciation to come.
So Green Ahhhh
I was scouting around for a few months now for a suitable piece of property to buy, but most developments just didn't catch my fancy. When I went to Setia Alam however, I was really bowled over by its garden concept, with many green lungs and water features scattered throughout the development. The houses were nicely spaced out, the roads were really wide, every street was lined with a walkway, and they incorporated the increasingly popular 'green street concept' where there are no visible wirings or cables, and all the drains are covered.
Plus, the houses were very competitively priced. Especially when you think of what the same amount of money (RM270K) will get you in Subang Jaya/Petaling Jaya (not much!). Also, whereas Subang Jaya/Petaling Jaya are matured townships where the rate of capital appreciation has already plateaued, Setia Alam is still a very new development with many years of strong capital growth ahead of it. A gain of 20-30% upon completion, plus a year-on-year gain of at least 6% for the next 5 years is not too far-fetched.
What about my trusty old house?
It will be sad to leave my current house which has served me so well for almost 15 years. I initially thought of renting it out, but seeing how low the rental yields were in my area (approximately 2.5% net...arghhh!!!), I thought it'd be a wiser decision to sell it off, use some of the money to fully pay off my Setia Alam mortgage, and use the balance to invest in another property.
Anyway, those are just some of the plans. End 2008 is still a good 2 years away, and a lot of things could have changed by then. We'll see when the time comes :)
posted by Bernard Yong at 9:25 AM
10 Comments:
seems like a sound plan to me. A friend of mine bought a property there too. NKVE is a breeze... just that the snail's pace picks up right after the Damansara Toll.
Cheers dude.
Yea, the D'sara toll is pretty congested, but it beats getting stuck on the deadly Federal Highway/LDP combo...heh heh.
Haha! Yeah... that's a double combo whamy!
wei, you didn't check out aman perdana which is just across the road ? Developer is mah sing. all semi-d and bungalows.
and the price ? u'll be surprise.
quality wise even better than setia alam. shud have call me man.. since setia alam is along jln meru, klang.
yea, I did check out Aman Perdana. The houses are cheap, but there's a reason why its cheap.
First of all, its located amidst industrial land. That will seriously hamper the appreciation of the property in the future.
The access roads for the development are quite poor as well. You have to share it with 1-2 ton lorries rumbling about.
The developer is good, but I still think 5 years from now...Setia Alam will give you better appreciation on your investment compared to Aman Perdana.
If you go check out Aman Perdana, a lot of the completed units have yet to be sold out. The take up has been very slow.
You can get a spanking nice semi-d for RM300K there, but I'd rather make do with a smaller house and have my money grow, rather then get a big house and see the price stagnate for years to come =)
lorries at jln meru is unavoidable.
regardless of setia alam or aman perdana, or etc. As long as its along jln meru those lorries will be slow pacing everybody.
Unless of coz you don't frequent to klang using jln meru.
u r right on the investment thing . That was the main reason sime UEP and other developers doing houses along jln meru. It appears that once Setia Alam is established, surrounding properties will go up.
Either way, any property location got its cons and pros.
alrite man... we can race along nkve liao... muahaha!
also bak kut teh anytime. ;-)
I am one of the Setia Alam owner. Do feel free to come to our Setia Alam forum to left some message. The website is http://forum.setiaalam.net
I just booked a unit with the name Charisma in Setia Alam for 333k. Looking at it, at first I prefer Kemuning Utama, Indah Classic, but the jam in the morning is taxing, not to mention the polution at night. for those buying houses, just don't go in the morning, but check it out at night to see any open burning around the area. You wouldn't want to stay in those area puffing smokes every night.
I end up getting it in Setia Alam after 5-7 times visiting the show-room looking for new design and the price falls in just nice.
:-)
I also recently booked, Pradosia unit in Setia Alam for 343k. I was comparing it with second hand house in Bdr. Bukit Puchong.
In the end, i pay my 10% on Setia Alam mainly because of the thought for LDP/FEDERAL jam..
I chose Kemuning Utama over Setia Alam because of a few good reasons:
- Setia Alam has only 1 way out in the direction of KL and it is tolled
- NKVE is also rather jammed during peak hours
- NKVE is flood prone near the exit to Setia Alam
- Kemuning Utama is near established area with a based of multi-racial community
- KUCC (which is a commercial centre) is coming up. Operational end of this year
- Shah Alam - Kemuning E'way opening soon, connecting Kemuning area to Shah Alam Centre and North
- Near to many colleges and facilities in Sunway, USJ and Subang Jaya
Well, past the glossy brochures, Setia Alam is a brave attempt to open a new corridor. Gestation period will be longer than KU before it becomes another hot area.
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