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Vertiq Condominium is an IJM Land project located at Metro East, Gelugor, Penang. Vertiq consists of 2 blocks a total of 318 condominium units, with each unit having a built-up area ranging from 1,044 sq.ft. to 2,303 sq.ft.
Facilities at Vertiq include basket ball court, swimming pool, mini water park, jacuzzi, indoor and outdoor gym, sky garden, sky lounge, jogging track, community hall, home automation system.
Property Project : Vertiq
Location : Metro East, Gelugor, Penang (Property for sale & rent in Gelugor)
Property Type : Condominium (Condominium for sale & rent)
Tenure : Freehold
No. of Blocks : 2
No. of Storey : 35
No. of Units : 318
Built-up Area : 1,044 - 2,303 sq.ft.
Developer : IJM Land
Vertiq Condominium
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28 comments:
Does anyone know the launching prices?
Looks interesting, but don't know whether they target foreigners or locals?
If for foreigners, they will make 2 bedrooms, facing the sea and sell at RM700 psf with furniture.
If target for Penangites, they should make 3 rooms, not facing the sea and sell at RM400 psf when launching.
RM400 sqft for IJM project? You must be kidding. I bet the price would be around RM580-600 per sq.ft.
Indeed Roman, I am betting at RM500 psf.
Anyway, my point is if they want to sell to local Penangites of the mear motals they can sell the units not facing the sea at RM400.
I am looking at the picture of the new tower and it looks like a one bedroom apartment for 1044 sf.
Anyway, wait and see...
http://www.bloomberg.com/news/2012-01-31/hong-kong-homes-face-25-drop-as-loans-fall-in-year-of-dragon-mortgages.html
Hong Kong Homes Face 25% Drop as Loans Fall in Year of Dragon:
Mortgages that need to be insured by the government because of risk experienced the steepest plunge in six years in 2011, a sign the biggest home price decline since the global credit crisis is accelerating. Property prices that have slid 6 percent since June may fall as much as 25 percent by 2013, estimates Andrew Lawrence of Barclays Capital, who predicted the initial slide in April.
Asian real estate markets from Singapore to Beijing to Mumbai are stalling or have started declining as governments seek to curb the type of housing bubble that brought down the U.S. economy.............
condomana, no need to scare people lah, what is your intention? thank you
Great job to condomana. Thanks for your courage of telling the truth which a lot of unrealistic people who try to share unreasonable info for an intention purpose do not like. Hope to she more sharing from you.
Not sure the new Bank Negara rulling (effective from 1-Jan-12)will affect the property market...
Let's wait and see.
Hi property guy,
Oh, not trying to scare anyone lah, just trying to show that governments elsewhere are "proactively working" to cut down speculation, and what has our government done?...:)...and by the way, it's just a piece of business news from Bloomberg. Is Bloomberg trying to scare people? What's their intention?...:)
http://www.propertywire.com/news/asia/singapore-property-tax-foreigners-201112165889.html
Singapore has introduced 10% additional stamp duty for foreigners buying spore property, and barred developers from absorbing loan interest during construction period. I doubt Malaysian gov will do anything. GLCs like Sime Darby, PNB have been buying up major developers.
Just back from IJM office. It will be launched at RM550/psft. Makes Pearl Regency look cheap
Hi DD,
Not only the GLCs, MLIs (minister related individual) are using other people's money to speculate in luxury condos too...;)
How much per unit?
Keep me update if ready to buy. I would like to book one unit.
Can we go to register for a unit now at the IJM office there?
Interested buyer too~
What do you guys think, at $550/sqft any more appreciation possible?
Can't make up my mind if I should get one.. any advise from the sifus out there?
Kenny
Hi Kenny,
I am not a sifu, but feel that RM550/sqft is reasonable in today's market for a new condo in a decent location. Any new project in that area would probably cost you RM500-RM700/sqft. Platino is hovering around RM450/sqft, you should seriously look at that, unless you really don't like that project (by IJM too and it's only a stone's throw away from Vertiq). If you go up north to Tanjung Tokong/Pulau Tikus, new condos are selling for Rm1000 /sqft...:)
Hi Condomana,
Thanks for your input. At $550/sqft, maybe the appreciation will not be much upon completion. I am planning for investment.
Fiera Vista is selling at $380/sqft. Maybe appreciation possibility higher?
Hi Kenny,
Rather than hear/say, pls find the link below to the latest report by our land office (up to end of June 2011) for properties changed hands costing > 1 mil Ringgit. After reading, we might be able to discuss our observations..:)
http://napic.jpph.gov.my/portal/content/Publication_PDF/jutajld22.pdf
Hi Condomana,
Thanks for the link.. very interesting numbers indeed.. any findings you have you would like to share?
I am still new in the properties market thing... :)
Hi Kenny,
Since you are interested in Vertiq, the first thing you might want to find out is how much is a buyer willing to fork out for it.
Now, to link Vertiq to the million-ringgit-property report, Platino would first come to my mind, as there were many units asking for RM1 million and above, and it's located just next to Vertiq.
So let's go to the report now and search for Platino units that changed hands up til june 2011.
Since it's about Platino, let's talk about it in Platino blog then. See you there Kenny.
Look, Pearl Regency which is next to Vertiq also selling at RM550/psf which includes furnishing and has a much lower density compared to Vertiq. Pearl Regency have better view compared to Vertiq. However, Vertiq provides 2 cp.
The units at Pearl Regency are larger hence the unit is more expensive.
I still don't think RM550/psf is worth it. Maybe they got some rebate during launching.
Already launched?
You guys are crazy , rm550 per sq feet??
Why Vertiq when you can get bayswater, maritime, summerplace at cheaper RM/ft2?
Anyone share his opinion?
Hi Anglo Wax,
Why? Because in Penang, once a new project gets the OC, owners would start to resell the units at a 25% mark-up to original developer price. At least that has been the trend in the past few years (moving forward dunno lah). Sommo IJM offers interest free during construction lah, 10:90 scheme lah, rebates lah (to make it very easy and "safe" for speculators to speculate)...:D
Eehh...I think it's not appropriate to compare Vertiq to summerplace as summerplace is located near a cancer-causing landfill site lah.
It is a different concept, you should visit the sales office to find out. Per sqft price also more expensive than Platino :)
Ya, moreover the whole area here will be recognized as high-end properties neighbourhood already because of Bayswater, Platino, Pearl Regency, and now Vertiq all together.
I heard that they will further reclaim the land opposite e-Gate in THE LIGHT project to build their commercial in Phase 2? if your holding power of the unit is there and maintain your unit well, you can also rent it out to the office workers at a very high rental rate. Just my 2 cents.
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