Sunway Serene @ Kelana Jaya

Sunway Serene @ Kelana Jaya Info:

Developer: Sunway Serene Sdn Bhd (Sunway Group)

Property Type: High rise property/ Services Apartment

Land Tenure: Leasehold (expiry 11 May 2106)

Land Title: Commercial Title

Development Concept: Mixed Development consists of approximately 1,800 units of Service Residences & 40 units Townhouses

1st Phase: 2 Tower (Tower  A -45 storeys, Tower B – 46 storeys)

  • Facilities Floor: Level 6;
    • Sky Gym & Sky Jacuzzi: Level 50 Tower B
    • Sky Lounge: Level 51 Tower 51
    • Observation Deck: Roof Top

Total Unit: 894 units

Units per floor:  10 units

Estimated Date of Completion: 1st Quarter of 2022 (54 months construction period)

Maintenance fees: RM 0.26 + 10% sinking fund (estimate)

Facilities @ Level 6:Sunway Serene Facilities

(Outdoor) Herbs reflexology garden, Multipurpose court (basketball/futsal), Open lawn, Multipurpose hall, Pavilion, BBQ terrace, 6 lane Olympic length infinity lap pool, Jacuzzi, Pool sun bed, Pool viewing lounge, Outdoor gym, Play area, Mini water play, Cabana lounge, 210 meter lazy river, Hammock garden, Reading/leisure pod, 500m jogging track,Curvy bridge, & Linear yard garden

(Indoor) Games Room, Infirmary centre, Surau, management office, male/female changing room, Gym, Function room, Library, Yoga room, Lounge area, Multipurpose room & Theater room

Floor Plan & Layout:

Sunway Serene Floor plan

Sunway Serene Layout

Price : From RM 820 per square feet before discount

  • Type A 892 sq. ft. 2 rooms 2 baths, RM 732,000 onward
  • Type B 1,105 sq. ft. 3 rooms 2 baths, RM 1.006 million onward
  • Type C 1,087 sq. ft. 3 rooms 2 baths, To be confirm
  • Type D 1,233 sq. ft. 3+1 rooms 2 baths, RM 1.135 million onward
  • Type E 1,232 sq.ft. 3+1 rooms 2 baths, To be confirm
  • Type F 1,596 sq.ft. 4 rooms 3 baths, To be confirm
  • Type G 1,788 sq.ft. 4+1 rooms 4 baths, To be confirm
  • Type H (Dual Key) 1,788 sq.ft. 3 bedrooms 1 studio 4 bathroom, To be confirm

Promotion Packages (dated on September 2017)

  • 7% discount and additional 6% discount
  • Early bird RM 8,000 applicable to those who register online
  • Additional RM 5,000 if buyers with Petaling Jaya address
  • Free SPA legal & disbursement fee
  • Free loan legal only
  • Free kitchen cabinet
  • Free air-cond on each rooms & living rooms
  • Each unit come with 2 car park

Example:  892 sq. ft. unit(Type A 1) with SPA price RM 850,000 / RM 952 psf

  • 3% down-payment: RM 25, 500
  • Price after 7%+6% rebate : RM 719,100
    (7% of SPA: RM 59, 500 ; 6% of 90% SPA Price [90%*RM 850,000]: RM 45,900)
  • Early bird RM 8,000
  • Additional RM 5,000 if buyers with Petaling Jaya address
  • Price after all rebate and discount: RM 706,100 / RM 800 psf

Special Promotion Package limited to 1st 100 units only.

  • 54 months deferment plan : 10% down-payment
  • 24 months deferment plan : 3% down-payment

Sales Status:

  • Developer not yet obtain Developer License (DL) and Advertisement Permit (AP) at the time I visit their show unit. They are asking interested party to prepare a post date cheque. Once all the authority approval are obtained, interest buyer will ballout to select their unit.

Location Map

Sunway Serene Location

Area Analysis

  • Accessibility
    • Direct access from LDP Highway
    • Few Public Transit found.
      • Kelana Jaya LRT Stations situated 7 km from development
      • Glenmarie LRT Station situated 2 km from development
      • BRT Transit situated 3 km from development
      • Setia Jaya KTM Station situated 2 km from development
    • Easy access to major highways – Federal, NKVE, KESAS & NPE Highway
  • Demographic
    • Social community for this areas is average which consist of Malay, Chinese and India society.
    • Income level for this community range from middle to high income level
  • Neighbourhood – Mature area
    • Next to high end residential area (bungalows and semi-d house)
    • Strategically located in a mature township surrounded by various amenities and conveniences.
    • Popular shopping mall and entertainment centre include Paradigm Mall, Sunway Pyramid, Tropicana City Mall, One Utama Shopping Mall and etc.
    • Educational institutions in the vicinity include Sri Emas International School, UNITAR & SMK Kelana Jaya
    • Sunway Medical Centre situated 11 km from the development
  • Economic activities
    • Light industry such as Western Digital, Nan Yang Siang Pau, and few semiconducted factories could be found next to Sunway Serene
    • Commercial Business District – Paradigm Mall @ Kelana Jaya, Icon City @ Sungai Way, P.J.
    • Sungai Way Free Trade Industry Zone

Surrounding Property Market Analysis

Upcoming/ On-going development high-rise property (Supply)

  1. Azure Residences @ Kelana Jaya
    • Developer: WCT Land Sdn Bhd
    • Land Tenure : Leasehold
    • (2013) Average Price per square feet : RM 950 (after rebates)
    • Estimated maintenance fees: RM 0.55 psf
    • Total Unit: 189
    • Expected completion: August 2017
  2. High Park Suite @ Kelana Jaya
    • Land Tenure : Freehold
    • (2016) Average Price per square feet : RM 900 (after rebates)
    • Total Unit: 1024
    • Expected completion: End 2019
  3. GreenField Residence @ Bandar Sunway
    • Developer: Cicet Asia Development Sdn. Bhd.
    • Land Tenure : Leasehold
    • Price per square feet : RM 670 onward (before launching and after rebate);
    • Average Price per square feet : RM 750 (after launching and rebates)
    • Estimate maintenance fees: RM 0.30 psf
    • Total Unit : 816
    • Expected completion: Feb 2021

Comparison:

After studying the new property price around Kelana Jaya, Sunway Serene’s asking price is consider acceptable.

In term of features and layout design, each project has its pro and cons. One of the unique of Sunway Serene is its layout design. It is very heartwarming design for senior citizen; such as using slope design for bathrooms entrance; wide space walk way inside the unit special for those who are using wheelchair and etc.

Sunway Serene construction period is 52 months or 4.5 years from launching date which is very time consuming compare with others; most of the new development construction period asked for 48 months or 4 years period.

Completed Property Transaction & Rental Record Analysis:

  1. Icon City, Petaling Jaya
  • Due to Icon City is completed during year 2017, JPPH is not yet update their database so there is no transaction record.
  • Source from iProperty.com & Propsocial.my
    • Advertise Selling Price Range from RM 750 to RM 1,000 per square feet.
    • Advertise Monthly Rental Rate for Studio unit range from RM 1,200 to RM 1,800; rental rate vary from furnishing, flooring, sizes and etc.
    • Advertise Monthly Rental Rate for 2 Rooms design unit range from RM 2,100 to RM 2,700; rental rate vary from furnishing, flooring, sizes and etc.

Icon City, Petaling Jaya2. The Grand SOFO @ Kelana Damansara Suite

  • Transaction records source from Brickz.my
    • Average transacted price per square feet: RM 856 
      The Grand SOFO @ Kelana Damansara Suite
  • Source from iProperty.com & Propsocial.my
    • Advertise Selling Price Range from RM 850 to RM 1,000 per square feet.
    • Advertise Monthly Rental Rate for Studio unit range from RM 1,000 to RM 1,800; rental rate vary from furnishing, flooring, sizes and etc.
    • Advertise Monthly Rental Rate for 2 Rooms design unit range from RM 1,700 to RM 2,500; rental rate vary from furnishing, flooring, sizes and etc.The Grand SOFO @ Kelana Damansara Suite

Some Factors that need to consider:

  • Rental Yield : the challenging part for Sunway Serene is it’s rental yield. Base on current record and rental trend, monthly rental rate for 3 rooms apartment in this area is below RM 3,000.
    • The most optimistic estimates rental rate for 5 years later will reach RM 3,500 which is sufficient to achieve break-even cash flow projection for those who purchase in small sized unit.
    • However, the most pessimistic estimates rental rate for 5 years later will be approximately RM 3,000 which may not unable fully but more than 65% covered mortgage repayment.
    • Since then, it is consider moderate risk of investment (just my point of view) and good for those who target on capital appreciation.
  • Supply and Demand : I did not conduct a detail survey on current housing units in surrounding but it is obviously that there is a risk of over supply in this area.
    • The sources of tenants could be come from nearby industrial area and commercial hub.
    • It is foreseeable that the source of tenants from nearby High Education Institution (e.g. Unitar, Tarloy, and etc) is limited due to its location.
  • Opportunity Cost : Sunway Serene takes 52 months for completion which may lead to high opportunity cost. Although Sunway Serene asking price can be consider reasonable when compare with nearby new development and completed property but these do not include any opportunity cost that may occur.        

Something that good to share…

  • Establish Developer: This project is developed by Sunway Group which is one of the prime developer in market. They are well know by their sustainable development plan and community project for each of their development – one of the example is Bandar Sunway. It is a plus point compare with other on-going development.
  • Environment Friendly : One of the unfair advantages of Sunway Serene is there is a lake next to it. Lake could create a great living environment – provided it is well maintenance. Although there are new development also emphasise on greenery concept in their development plan but personally I am more prefer Sunway Serene’s development plan.

Sunway Serene Summary

  • It is could be suit for own stay or investment purpose.
  • For investment purpose, Sunway Serene Residence may offer high possibility on capital appreciation but low rental yield. Potential of capital appreciation is medium level due to its rental yield. It may fit to those investors who aim for capital growth rather than cash flow.
  • For own occupied purpose, Sunway Group’s reputation is very high in market so there should be less concern on its workmanship and so on. It’s location very strategic as it easily access to few main highways. However, it is foreseable that those units faces to highways will be dusty and noisy. And viewing of Sunway Serene may affected by nearby industrial area.

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