The Peak Residences nestled into the valley of Mount Erskine, stands tall and majestic amidst the lush greenery. The Peak @ Mount Erskine, the best of living and convenience under one breathtaking garden roof at 500 feet above sea level.
Located at the foot of Mount Erskine near the thriving Fettes Park, The Peak is well tucked away from the hustle and bustle yet closed enough to all the conveniences, even on foot. With Gurney Bay in the vicinity, the view from The Peak is of the towering skyscrapers along Gurney Drive, forming the skyline of this famed water front.
Property Project : The Peak Residences
Location : Mount Erskine, Tanjung Tokong, Penang
Property Type : Condominium
No. of Blocks : 3
Built-up Area : 1,000 - 3,850 sq.ft.
Developer : Ivory Properties Group
Facilities
Infinity lap pool, wading pool, jacuzzi, gymnasium, sauna, children's playground, sun-bathing deck, BBQ-area, garden, multi-purpose hall, games room.
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«Oldest ‹Older 1 – 200 of 674 Newer› Newest»Anyone have information on this?
Price start from RM288K , check with Ivory sales office if you r interest ...
I am planning to buy 1 unit condominium. Anyone have further information. Have the project started ? When is the completion date? Wht is the range of price will it be? Any facilities?
Thanks
Hii all..
Can i know this condo freehold or leasehold? when completion date?
The Peak will commence work in 2009, projected to complete in 2013. It's a lengthy 4 years as they've got to clear the site which is hilly and forrested terrain.
It's open for reservation (10% downpayment), will likely be launched during next year CNY. Plenty of units still available. Price starting from RM288k for intermediate units and RM317k for corner units. Difference of RM1.5k every floor upwards.
I suggest to all potential buyers to think twice before buying Ivory's projects. Times Square's 2nd phase is not doing good and this is Ivory major project. All cashflow will go to this project 1st. Other project comes 2nd. As such, Moonlight is sufferring. Rumours have it that Moonlight project has been suspended due to unethical land clearing.
Another of Ivory's fame project is University Place. The floor tiles of some units is bulging up due to lack of cement used.
Island Resort is also facing some problems. Go visit the blog spot and you will know in detail.
Hi, can u elaborate wht do u mean by "2nd Phase not doing good"? Moonlight bay got suspended for some leaking water issue, but they are building a pond to act as some sort of dam to solve that problem. What about Island Resort's "problem"?
It'll be great if u could provide the links to the blogspot u mentioned. Thanks
This is the blogspot lah. Just read the thread on Island Resort.
i was inquiring about another project "the Peak".. ivory oso stated tat v hv to place 10% to book for our unit, which will b placed wit a stakeholder (their lawyer).. bear tis in mind, ivory hv d rite 2 hold on ur 10% fee 4 a yr. if project doesnt kickoff, v can claim back tat 10% wit no interest n minus any admin or watever fees they call it. i think it is absurd 2 jz let them earn interest from our 10% wit no promise d project is goin 2 start.. n v no longer back our full 10%. does any other developer implement such dirty tactic? i think ivory is desperate 4 buyer's monies to roll other projects s i dont really believe our 10% really stays wit their stakeholder
The Peak is actually taking over a land left behind by a failed project, Fettes Villa. The land is on a hill slope with a lot of rocks.
As of now, there is no access road to the site as it is situated behind a housing area. Based on the plan that Ivory showed me and my visit to the site, there may be delays in the project unless the builder managed to bribe the state government.
i think there are 700 units for this one. give 10% and play a wait and see. just use some logic here, 700 units all will sold out so soon? the best approach now is to make sure the developer built to certain % (says >50%)before commits. worry not getting any units at all? u think its so easy to sell all 700 units of apartments? worry u don't get good view or etc? for middle class working ppl, its better to be safe than sorry. its not easy to earn money these days. for those with tonnes of cash, they don't mind if they make some not so right decision sometimes. u know better ur financial position. those comments above already gave you some clue on worthiness.
No news for this Condo.. Already start earthwork? How much the price? Not in property fair last week...?
Hello,
Any new on this project?
When will it be launch and how much per sq ft ?
ivory still busy with other projects... PTS ,moonlight mountain(hahaha) the whole hill is still there but replaced with concrete and designed and people can live in there...such a massive construction and it looks crazy... whats the status of 10 island huh... like no work there only... and what about 1 island...
Any recent updates for this project?
Hows the pricing like currently?
oh... now is economy crisis, mostly big company will be face it first, think of a developer company have too many projects in hand and did not have good sell, good luck.
ha ha ha. 1st block-Coral nearly all sold out left only the ,lower floor units. Those who are thinking tooooo hard missed out. Be quick for the next block! Good Luck !
i js received sms from salesgirl, said that now The Peak is open for registration with 10% downpayment..
i am wondering is this project still on-going?
commencement is end of 2010; takes about 3 years to complete.
very few units left for first block. second block will be launching soon.
for the price and the size at this area - its a good deal. medium range condo / apt of the similar spec at about 3km radius is about RM300K and some are on lease hold land. this is on free hold land. good price of a good location
Block A (Alamanda) is launching, within 1 week, almost finished! Book during launching period get 2 car park. Next launching only 1 car park, and it cost you 25k to get another one.
Ivory is going to launch another 2 blocks (Balsam and Coral), but the price is gonna be higher than Alamanda (above 300k). Different of 1k every floor upwards.
Ivory is a fully-integrated developer that does not outsource any work on its projects, from planning to managing the completed properties, to control costs, timing and quality. Some plans have deferred due to the market situation, and economy is recovering now. Moonlight is completing next year.
Nowadays now easy to get condo along tg tokong. Bear in mind, Gurney is superb expensive. Tg Bunga/ Batu Ferringhi is far for some people who work in town.
The Peak is just located in the middle. Pay 10% now, if the project did not kick off, we get full 10% back without admin fees etc. Think too hard and you missed it!
Visit Ivory office ASAP, the office beside Times Square open 11am-6pm everyday including weekend to find out and experience yourself.
Anyone know how much is the maintenance fees? Do they offer things like free S&P legal fees etc?
20cent per sq ft. if you buy 1000sq ft, monthly RM200.
SnP legal fees will be from Ivory, their lawyer is Chow Tat Seng & Low. u can call for details 04-2288280
Just wondering anybody know that we can see chinese cemetry from the balcony view at any of these blocks.
yeah, not sure if the cemetry around the vicinity will affect the price in future or not.
Anyone plan to book a unit there? 6+6 is kinda fishy, any comment?
What do you mean by 6+6?
Thought government going to stop n suspend all the hillside project?? Is this project was officially approved by state government? The land title ok???? Wondering why they need the 10% down-payment before the commencement.....
btw,6+6 is ok provide the 10% is not factor in during this 6+6 period. Its more secure n more convincing to those buyers if it were in this case....
caren or peak can u explain what do u mean by the 6+6 ? i really don't understand. thanks in advance.
In short, 6+6 means after paying 10%, buyer will have to wait for 6 months before they can get the SnP stamp (official launching of the peak). Failing to do so, buyer have the rights to write in and demand for refund or wait for an additional 6 months for the project to kick-off. For this project, worst case buyer will have to wait for 12 months before Ivory starts commencing the project or they will refund the 10% if they call off the project.
For softlaunch, Ivory is offering a discount of 45k + 2 cp to make up for 6+6 T&C. My personal option, the peak will kickoff eventually. Plus points, the floor plan and the location is good, price is reasonable approx 300psf for freehold, the condo is 'back mountain face sea', don't think u can see cemetry in lebuh halia but from far u can see the cemetry beside taman kristal (just like Tanjung Park). Negetive points, they might cancel the project with full refund and u wasted a year of waiting for nothing.
I plan to book one as my 1st house since I was born in that area so hope to share more with interested buyer. Feel free to drop me an email (carenlew@gmail.com)
Thanks to Caren for your 6+6 sharing. Just left less than 5 units in Block A. I'm not sure whether they have already launched Block B. Better be quick.
They did, block B is actually open for serious buyer. Did you book block A kok wai?
hi there, wanted to ask is there any promotion same as block A with 45k less + 2 cp for coming block?
How about the price as well?
Same promo for early bird block B, but the softlaunch ended last week. I guess you can always try your luck by going to the sales office and sweet talk your way in getting the same promo =)
The price is from approx min 330k for 1k sf and 370k for 1.1k sf before 45k discount. Good deal for freehold.
that is wat im worried too, visit the site today. there are a lot of kampung house's to be cleared b4 starting the project. anybody know when is the official launching date ?
hi caren,
U mean the soft launch for block B ended already? wat is the latest starting price for 1k sf now? last time when i asked them, starting price is abt 320k
Not further to the project is nice not as its a bit too early to judge because even the site is not really ready at the moment. But, the management (Asst General Maneger, Ms Lye)'s attitude really "not so correct". The way of communicate, the explaination really makes people dissapointed. The way of they doing things is not flexible and not reasonable! She is not professional!
Basically I am from sales and marketing. This kind of character/ attitude towards customer today is totally out. As a win win situation, hope the top management really look into this seriously in order not to "spoil" Ivory's market image!
last 2 week i went to the office and block A left with few units only..waiting for block B launch...
there is cemetry around that area. does anyone know if it'll be near or far from The Peak?
House, yes u r rite. There are cemetry there. Its about 200-500 meter (in straight line) away. I believe u can see it in certain angle.
As per what Caren said, is same as Tg Park. U can see cemetry in Tg Park as well and even Grand View or Marina Bay also u can see the cemetry in certain angle.
;)
hi Peak, may i know whether the cemetry is in front or behind or side of the site? you seem to know the place very well so appreciate any info from you.
btw, do you think this is a good buy for own stay plus investment. it seems like house prices in penang never dip but only go up. my parents like the location of The Peak but i'm hesitant with cemetry surrounding. i thought tanjong park is much further away from any cemetry. the other place i'm considering is gurney park but i heard it is difficult to go in and out especially during weekends etc.
the balcony is facing the hill and sea view, (facing marina bay sunrise tower) but as caren said u might or will get a bit view of the cemetery beside kristal point. the swimming pool and other facility's is in the 6th floor, if not mistaken u will get the view of the cemetery in jalan halia. overall i dont think its that worst. correct me if im wrong.
now cannot even see the site so not sure exactly where it is. price wise it's reasonable for the location. it is near town but yet not too congested.
does anyone know how much are the apartments (low rise i think) along jalan gajah area?
Target to launch during CNY2010. As for the kampong, don't think they need to clear the houses cause from the location site mab, the kampong is not included in the build-up area.
Softlaunch is only for block A but since block A almost sold out (only low level left), they open block B for booking. Not sure if you still can get the 45k discount, but you can always drop by the office and check it out.
From the location mab, all the balcony will be facing Gurney Drive and since its single loaded, the cemetry in lebuh halia will be on your left. Hope the info helps =)
Hi House,
In jalan gajah the only low rise I can think of is villa batu bukit. RM300k plus for 1k sf I guess. If you don't mind leasehold, then you can go for Brezza, RM380k for 18Floor with 1250sf =)
caren, thanks for the info. i'm currently stationed out of penang so cannot go back to check. and this is more for my parents to stay - location wise i find it's good. conveniently located with short drive away from town. did you book 1 yourself?
the brezza is also very nice location but i don't like leasehold property. i was reading the thread on the brezza. wonder if they are able to convert to freehold like e&o.
Basically, the state goverment is encourage all lease hold properties to convert to freehold. But there are a big sum of money have to be grant to the state goverment in order to do so. This is also the developer's concern which most of the developer's do not wish to pay this amoung which is not direct benefits to them.
:)
Any buyer here? Dont mind to share your point of view over this prop? Thanks.
Yes I did. If your folks like the location, then you should book one. But make sure they know how to drive cause from the location, they might need to walk fair abit to get to the main road for public transport. I use to live there when I was small but the construction of Puncak Erskine force me n my folks to move.
For Brezza, last I heard (a month ago) from the sales personal from UDA office, the application for freehold was turn down by our state gov.
Maybe you can try and call the sales office for info. Or you can call the lawyer (Chow Tat Seng) directly. Heard that they are helpful as well. Peak, any input? =P
Just get some updates. Not sure how true it is... The quote is the price will increase by 20-30k (from the discounted price) when the project launch approx next CNY......
Well Caren, the lawyer was very helpful and professional....
Btw, does any one know how is the traffic (entrance at Jln Halia)especially during the "Cheng Beng" time? Will it be a problem go in and out during the period of "Cheng Beng" as there are a cemetry at right side of Jln Halia....
-.- you don't know meh?
my parents drive so transportation is not a problem. however, i am wondering if there will be congestion at the road leading in next time when cars might park on the left and right of the road.
also, point about cheng beng congestion is another to take note but at least it's only a short period and once a year. not so bad.
do you think good to buy with seaview (and possibly can see cemetry) or not?
peak i dont think the cheng beng issue gonna be a big problem as its a few days period in a year. i live in jalan halia b4, not now. i dont see its a problem for not buying the property. but as wat caren said if u depend on the public transport then u need to do a lot walking. :)
house, yes if u can see the view of the sea then u are sure to get a bit view of the cemetery beside kristal apartment, that is what was told to me by the sales ppl, there.
wow! near cemetery area you guy not scare in Hokkien call "IMM A Tay" luck or health will effect, good luck.
concern, there are a lot of double story house's facing directly to the cemetery and these folks are staying there for ages, i dont see any problem in them as u said. :) maybe its a personal view one to one ....... uppl may own a super condo or super bunglow, but cementary is the last place where every human gonna end one day ! :) ( just jokin, no hard fellings pls)
Rickinson/ House/ Caren, yes think the cheng beng is not a big issue........
Yupe, with this price and location, think the price is worth it.........
Concern, as long as we never do bad things, nothing to scared lor....... Think all depends on ourselves...Dont u think so?
:)
Another suggestion, we form the holiday group and we go for holiday tours during the cheng beng time.... Its just meant for all The Peak resident to join.... Then the Cheng Beng congestion issue settle..... Hahahaha.....
Peak, please include me in your holiday group then! I booked 8th floor. The rest of you, which floor are you?
No need to do bad things, these things just past by beside condo near their bungalow (cemetery) or the person with dim star inner human body(how we know when dim or bright), will see it, 2nd how we know whether the residence over there having problem, do they advertise in news paper? Strange things happen in this world cannot be interpret by Scientific, good example can we see wind?
Chia Lih: Sure include you.. Lets form the commitee.... LOL..... U in 8th floor of which block?
Sun: If like what u r saying, "those bungalow residence so natural like wind, its nothing to scared of. Good example do u scared of wind? Pls allow me to further explain, I do agree there is a spirit in this world. In scientific point of view, scientist named it as frequency wave. Those who see spirit/ ghost is due to thier frequency wave is "near" or similar to the spirit. So they can see them. In general, the spirit wont do anything to us. Its all bcos of the imagination makes ones feel like the spirit is against them. Dont u agree?
Furthermore, we should pay our respects to those who was staying in the bungalow there for what they had done before. May them rest in peace..... Sooner or later, all of us one day will go to the same place as them also........ Right?
:)
good one peak ! agree with u 100% !
sun : yes i know that ppl wont advertise in paper when they have a problem, but if there is a problem, ppl wont be staying there anymore, more worst the property price (double story house) will drop tremendously. house's in lengkok halia are selling at rm500k, wat can i say anymore.......
Hi Rickinson, Thanks for your support....
:)
Dear all buyers, does anyone inspected the "Building Plans" and the "Layout Plan" before the payment of the Registration Fee??? If so, does anyone have any comment after inspection of those plans? Kindly share. Thanks.
i heard all units get 2 carparks, but they f&b type. (front and back). is it true ? for the front car to move , the car at the back need to move 1st....
Rickinson,u r rite. The car park is f&b type.... But does anyone know where is the location of the pump room?? Where is the location is the TnB room and etc......
i am a serious buyer here few question wana ask all the " old bird"
1. the road from traffic light till the building very dark la,safe bo?
2. this project is not interest free during construction, worth bo?
3. the project is near the hill, ok bo?
4. the down payment is 10% but not 5% , will too high bo?
thanks
Monkey:-
1. The developer going to widen the road to 2 lanes right, 2 lanes left. By then, should be not that dark...
2. Some banks still can offer 0% interest for 1st year(just checked with some banks last Friday). Anyhow, still too early to mentioned about the interest as the developer yet to announce which is the panel bank. By the announcement, the bank should come out with an attractive package.So not to worried too much.
3.Ivory builds hill project should be ok. Other developers, no comment.....
4.I think most of the down payment for prop in Pg is around that. But Ivory takes 10% before the "official launching" is a bit high in the sense they havent stamp the SnP but the money already paid. In between, they gain another 6-12 monts time.
If u compare with the price now, then my personal opinion is still acceptable.
Hope I answered your question, Monkey.
By the way, I m not from the developer. I m a buyer also. Just paid the down Payment last week. So all the question u ask, I ask myself also before I made my decision. I checked lotsa info and i found that is a worth investment as per my personal point of view. Wish u join me as a neighbour in a very near future....
:)
Think I m going to claim the commission from Ivory by a free advertisement (Q & A) here...... Hahahaha........
Anyway, If anyone have any info to share and its not convenience to post it here,can always email me at peakofpeak@gmail.com
:)
Thanks....
peak,
have they open blk B for sales. If yes, any changes to the price/discount package for blk B compare to A.
am still under consideration...
Block B is open for sales. Price for block B is slightly higher compare to the earlier Block A price. The discount, u can always check with the sales office. Maybe the discount package still available. But not much nice unit left for Block B.
:)
if im not mistaken one of the panel bank of theirs is maybank.
The panel bank should be maybank and ambank as per what I know....
:)
thanks peak, really appreciate ur answer.
anyway still doubt about this project cause paper today publish that they have court case for this project and thats why they not fully open for sales and start pilling.
anyways i will go to ivory this week end to have better understanding.
Start from which floor will have better view, which unit is nice? i plan to take the Block B la.
Hi Monkey,
Yes, I saw the news also... Its more on the compensation between the ex-developer/ buyer and Ivory.... Wish Ivory will handle this with cares. Will check with the lawyer tomorrow and will update here for the latest news......
For the better view, I think 15th floor and above should be a "full view" as the small hill located not far away is approx 13th floor's height..... About which units, I will say it will be more depends on the personal preference. Not much I can comment here...
:)
By the way, do u beleive in "Feng Shui"? If so, maybe u will get a better idea on the location of the door/ kitchen's direction/side........ Again, this is a very personal act of preferring......
:)
just got to know about the court case tru this forum, pls update us on the issue, mr.peak. give us the good news :) ! thanks.
have anyone enquire about the bank loan? I heard maybank and public bank is offering but not sure of the package. Anyone have any idea abt the rates offered by maybank and public bank?
any idea when the discout will discontinue, i wana make decision this week liao but still afraid good unit finish...
no comment on the discount deadline, to be accurate we need to confirm frm some one inside ivory. they will know the trick. :)
Rickinson, not much affect on this project on the court case news. Its about few of the previous purchaser they do not wish to continue with this project and they are seeking the refund of the earlier down payment towards the ex-developer. "They" request Ivory to refund the down payment which they paid to the ex-developer. But Ivory had awarded the court order on Ivory's side. Anyway with a goodwill service, Ivory do compromise and propose to the previous purchaser to continue with this project and they will absort the downpayment but not in cash refund.
Basically, this is not much affect to the current project status...........
Monkey:- No idea on the discount deadline also. I think its more depends on Ivory's management decision. I believe, if the total unit sold/booked hit some numbers (Quota), the discount package will end anytime. About what is the quota, really no idea...
:)
Anonymous:- Haven't really go and apply the bank loan as this project still under preview status. Even u submitted your document request the bank to proceed and u get the approval, the developer's lawyer also will not further proceed until the S&P stamped. So when the S&P get effective, the bank package might change by that time. Off course we can check on the bank loan package now, but its just for our reference only..
:)
u made a relief on the court issue, thanks.
Finally i book already....
Hi monkey, do they still provide 45k discount and 2 car park? which block u book?
:)
Monkey, Welcome to join the neighborhood.....
To those who believe, especially to "R & P".
PEACE with the environment is a criteria for healthy homes and every resident should create a balanced surrounding so that his or her mind, body and soul are in harmony.
“This is important because we all experience physical and mental stress every day at work and returning to a home that is not in tune with the environment can add to the stress,” said Sunday Star Vasthu Sastra columnist T. Selva, who will be presenting a talk at The Star Property Fair tomorrow at the Kuala Lumpur Convention Centre (KLCC) Hall 4, at 2pm.
He said Vasthu, better known as Indian feng shui, essentially helps balance the man-made environment with the natural world.
Selva said Vasthu was a science of architecture and it could be applied in any space, enclosed or open, and it is highly recommended when buying, renting, building or designing a property.
“When renting or buying a new or second-hand house or apartment, Vasthu recommends that one should check certain things before making a decision.
“The first thing one should do is to enter the property and stand in the centre with eyes closed to feel the ‘vibrations’.
“If the vibrations make you feel happy, then check the directions by using a compass in which various elements of the house face,” he said.
He said a potential house buyer should check which side the plot faced, the location of the roads, topography, plot extension and the surrounding area before making a commitment.
“A house facing north is favourable as it is on the magnetic axis and welcomes positive energy. Land sloping towards the north is also considered auspicious.
“A house facing south is average for residential purposes but auspicious for people in the food and beverage business. Land sloping towards the south is considered inauspicious,” he said.
Selva, who has written two books on Vasthu, said a house facing east was auspicious because it received solar energy and if the land was sloping towards the east, it was considered auspicious.
Selva said out of the eight compass directions, the only direction that should be avoided for a main door was the south-west.
On buying a plot of land, he said do not buy a plot of land that has a graveyard either in front or at the back of it.
“Such surroundings will only bring fear and give no peace of mind to the owner.
“Buying land near a place of worship should also be avoided, especially if the shadow of a temple falls on the property.” he said.
At the talk, Selva will be showing participants on how to choose an auspicious property and how to create the perfect home by rearranging a house.
http://www.starproperty.my/PropertyScene/PropertyScene/803/0/0
Hi peak, we will be neighbour in future. Let us cooperate and be a good residence in the peak, i really can not tahan my current apartment now, a lot of uncivilise residence, smoking in the lift,park thier car in yellow box, put all the unuse things outside the corridor, they split from the top, outsider come in the swiming pool......i feel like i live with all the tarjen and this is really enough for me, i willing to spend more money, take more commitment to stay in better area.
i book the block B , the 45k still got but don know when will discontinue. My advice is the peak is suitable to stay but not to invest(short term won give u a lot of profit cause the area haven really develope yet and investor have to take 10% downpayment and no interest free during construction, so investor please think twice, residence are welcome. finally if u think the place is near to graveyard and is not good feng sui, please go away, don ka ka cau cau. my grand grand mother is "stay" there, she will pray for me and give me good feng sui . thanks
block C is open for bookings.
is it got the same promotion ?
not sure la, got the info frm my friend who just went there for visit. they told him property will ready in 4years time, i though 3 years.
monkey is block b mostly sold out when u bought yrs ?
when i was there to make payment on last wednesday, about 3/4 of units in Block B has red stickers... supposedly 45K discount would still be valid till end of this week.(supposedly).. i don't think the discount is going away anytime soon..:-) at this rate i don't think they need even launch during CNY...
Block C open??? I m at Ivory office yesterday, but as what I know from the sales there, Block C havent open........ But as I look at block B, its more 50% booked...........
:)
Monkey: Btw, where do u stay currently?
today i going to ivory again but they say block c haven open ler. block b is almost sold out for the lanai type except very low, very high and not nice number floor only, balcony still available and corner still have alot. i am currently stay at paya terubong
realy, how come my friend told me block c is open ???? mine is also in block b. when i heard block c is open, i was happy. thought its selling like hot cakes and they will kick of the project soon..... hehehe. anyway i think the respond for this project is good.
Peak,
Since the car parks are F & B style which should be entitled per buyer, why the Ivory sales representative claimed free 1 car park during this promotion early bird period? Just want to clear my doubt. Thanks.
Kok Wai:- The free 1 car park meaning of free one lot of F&B car park lot.....
I m not sure after the promotional period, whether the unit price will include the car park lot. Maybe they will seperate the price for the car park lot...... Anyway, the sales rep should claim it this way "The unit come with 2 car parks which is front and back type" instead of "free"........
:)
Wow, this blog for "The Peak Residences" officially reached 100 comments..........
:)
Thanks Peak. Well, it's kinda troublesome for us in such way. It would be different story if we gonna have 2 F&B car park lot. :p
front and back really susah sikit, but with this price i think is resonable, if not they sell u one car park at RM 20000, lagi teruk lo. my advise is bring two key together when going out, haha.
to all the buyer, any idea regarding the loan, which bank provide lower rate, what is the offer, we need to do this before year end cause afraid the goverment change the rate next year.
Monkey,
Do you have any idea whether we can buy extra car park?
Trouble in the sense that if you stay with your friend and do not want to share the car. So either your friend going to car park with you (better) or you help your friend to relocate the car and then going back all the way to your unit just to return the car key. :(
Regarding bank loan, I believe Mr.Peak has already explained to you. This project is still under preview status and not listed in bank yet. :)
Hi Monkey/ Kok Wai,
Last Saturday when I was in Ivory, Maybank personel is there.. They offer 2 package.
Package 1, -2.2 BLR, legal fees waived and bond 5 years upon OC.
Package 2, -2.3BLR, NO legal fees waive and bond for 3 years upon OC.
Both also not that interesting. Maybe can wait for the 2nd panel bank to come in. Then the rate might adjust a bit. Again, as I mentioned earlier, the lawyer will not further proceed until the S&P stamped..
:)
kok wai i am very sorry i don have the info, i nearly forgot if the two car is not belong to one owner cause my situation is i stay with my spouse ma. haha
peak, so which mean we no need to sign any letter of offer meh ?
Monkey:- What do u mean by no need to sign any letter of offer? Thought everyone of us(the buyer) signed the letter of offer when booking........
With the letter of offer, we not able to proceed with the bank loan.... I mean not able to proceed and doesnt mean we cannot apply. We still can apply for bank loan, but even bank approved the loan amoung, also we are not able to get the loan "started"... Just imagine, if our luck bad, this project does not kick off, then are u willing to pay the interest for nothing? The bank/ government also does not allow u to do so even u r willing to......
:)
For those of you who wants to buy The Peak, think carefully. This is my experience, initially I was okay and interested to invest with 3 of my friends as neighbor. Later, I called and was so disappointed with Ms Lai's (asst GM) attitude and starts to think about it again. Please note of the followings..
1) They said once we pay the 10%, we can change our mind 2 weeks before the 6 months expiry. They confirm that the documents will be given to us. When probe further, they said you cannot change your mind earlier or later than the 2 weeks time given. They also require you to write in and they will "appeal" for you to get your refund. Does that means you will surely get back your money? Also if you cannot get the % of loan you need or wish to have, you cannot get back your money. So it is not guaranteed that you will get your money back. You only have the ‘right’ to write in and demand only.
2) I asked Ms Lai to allow me to take the documents back but she said cannot. I must sign and pay the RM5K first before I can take the documents that mention about the 'guarantee refund' if you change your mind. I told them that IJM and CA Goh allows you to take back the documents such as S&P but Ms Lai said she don't care how other developer did. Imagine if I sign and pay the RM5K or 10% and to realised some terms that is not fair to me, GONE!!. She also said 'Ivory lawyer' will attend to us but how can Developer's lawyer act fairly for buyers? They might not tell you the fine lines. If they have nothing to hide, they would have been open with that 'guarantee refund' documents.
3) This land is still belongs to the previous developer who has bankrupt. Whether or not Ivory can get the ownership transfered, nobody knows.
4) Ivory is also waiting for people to start booking to reach certain percentage before they can show the bank to loan them money to start this project.
5) This project is near to cemetery that means if you are okay with it, then it's not an issue. Check it out and see if you guys are comfortable before purchasing.
6) Mostly block A is taken up is because those who bought earlier project that got abandoned had no choice but to buy it otherwise their earlier deposit will be forfeited. So block A is sold mostly by owners for this abandoned project that worth RM120K before.
8) With issues on point number 3 and 4, you now know why they have 6+6 months? They needed time.
Good luck for those who has purchased and hope all will go smooth... for those who is looking at it, you can still decide if the above is okay.. Make sure you walk in with your eyes open....
Peaky and the rest,
I definitely agree with your points and feedback. Ivory looks reluctant to reveal information to buyers. I believe there is a hidden agenda behind them. They only keep on rushing ppl to place a booking. I do agree some of the staffs attitude is really bad.
Well, i have actually place a booking due to the reasonable price based on the current market. I just hope everything goes well.
Every project sure have pro and cons, its just a matter of whether the person could accept the cons or not. Lastly, make your wise choice, i have made my choice.
Peaky:-
Let me have a wild guess. I believe u are one of the earlier developer's buyer............
Anyway, I do agree on certain point that u mentioned above. Pls allow me to further clarify.....
I, personally have a very bad impression towards Ms Lai also. The attitute (as mentioned earlier in my comment above) is really have problem. But, some of your points i might need to clarify here.
About the land owner, its NO longer belongs to the earlier developer. Its now under the premisses of a semi-government company who is doing the ownership transfer which land and housing council had approved.
Off course the developer's objective is mainly target on the sales. For terms and condition in the letter of offer, its ok. Let me further clarify on the developer's lawyer. The lawyer is a close relative of Ivory's director! But further to this, I had checked the contents of the letter of offer with my personal lawyer. My personal opinion is all the terms is acceptable.
By the way, we cannot compare the terms for The Peak with other developers. Its not really fair. If u mean to compare, just compare with some of the developer's practise in Mainland. I can say if u do compare, u will not get any prop in Penang Island. It's depends on case to case and the "value" how u measure on it...
Hi Peaky,
I'm not the earlier batch of developer's buyer. i'm a new buyer for this project. By the way thank u so much for the clarification that you made in this blog. I'm sure all of us are happy to know more information regarding this project and you definitely have provided us a very useful information to the buyers.
Some clarfication on your last statment regarding the terms comparison. What do u mean by the comparison with Ivor vs other developer's practice in mainland?
Dear all,
"Peaky" and "Peak" is 2 different individual. I did NOT know who is Peaky...... Pls dont make ppl confuse here........
Yes, Peak and Peaky is two different person.
Hi Peak,
This project may still be potential looking at the location. I am glad you are one who goes in with eyes open. I was initially interested but after Ms Lai's attitude, I have turned cold and advised my other friends to consider but usually they would follow my foot step considering I have made many positive decisions before in property investments. That is why, it is important to hire good staff. I am an investor and this project is not the only project I can invest in.
Thanks also for the update on the land title, they did not say the land belongs to them and hesitated when I asked on the ownership. You can tell that they are not comfortable or confidence when answering. That prompted me to think that the land belongs to the previous owner.
Yes, It's not fair to compare terms and I wasn't going to. I just want to ask them to let me take back the letter that guarantee you to take money back after you have signed and I think this is important. I want to be on the safe side by showing to my lawyer but Ms Lai said sign then only can take out. As a purchaser, this sounds 'fishy'. Other developer allow you to feel confident when they confidently let you take the documents that your requested home like CA Goh and IJM. Ivory sort of acted like inferior to these two company. Ms Lai said," I can't entertain your request because if everyone do that to Ivory, then we would be very busy". So disappointed with her reply. They want to remain easy working. To me, there is a lot of excuses to protect the documents from leaked out. If I really want, it would not be difficult for me to get hold of one. But it's okay now.
Peaky:- Great............
Anyway, as an investor, is it wise enough for not invest in a prop just bcos of the developer's sales personal attitude? Is that the major concern for an investment? Thought should be judge in many angle with open-hearted and flexibility....... Dont u agree?
By the way, as an investor, u should know it very well that Ivory is a "secretive" type of developer. Thought this is their so called common practice......
:)
Hi all,
I think the land might be belonging to OHM groups. and most probably it is a JV project with Ivory. You can check their website http://www.ohm.com.my/UPCOMING.htm, look at the tanjung tokong project, the picture is exactly same as the peak.
Peak,
True to what you say. It is not wise just because of the attitude but I think because I bought Tanjung Park before and almost kena cheat, I am a bit paranoid with Ivory. Considering Ms Lai is asst GM some one with high post and acted this way, I rather not take risk just in case lah. I already have better project to invest now. Good luck Peak...
hi all, i receive one news that ivory will build a low medium cost flat around that area, but i am not sure where is the location exactly. Any more information all bloger ?, so sad la when i get this news, the ivory really don disclose more information about the project,for example what is the tiles size given, is it the toilet giving tiles till ceiling height,etc. hopefully if any ivory officer that seeing this blog can give more info to the buyer.( Like belleview this week lanching All Season, they provide proper launching and answer all the question very well)
Monkey,
Ivory will build a low medium cost next to Block A. Please note.
Hi Monkey,
The medium low cost is just next to Block A as per what Peaky said..... But its a low rise, (approx 13 floor height only). Opposite The Peak, at the hillside, there is another vacant land which they are going to build a high cost condo/ landed. Developer yet to finalize on this project.......
For floor tiles, they provide 2x2 ceramic tiles. The toilet, tiles will be till false ceiling height.... U can always refers to "Schedule 3" with Ivory.........
If u really want the info, maybe i can email to u by next week. I have a copy of some useful detail/ document with me..........
:)
Peaky:- Understand your concern..... To invest in a property, the most important thing is self comfortable... If u dont feel comfortable, no point to take the risk. Its meaningless at the end of the day.........
anyway, what other good investment in your mind? Dont mind to share your opinion? Or maybe u can send me an email to peakofpeak@gmail.com if it were not convenience for u to disclose here..... Thanks anyway....
:)
Hi PEAK-
Drop by at the office and heard that the discount package is still the same. Block B abt 40% taken up/booked. In fact i have not hear from them that there is a low-cost apt. going to e build there. Probably you can send me more info abt the peak.
I heard maybank and RHB is offering the loan package and buyer and sign the offer letter as interim while waiting for S&P stamping. The bank loan interest might interest from 2010 but not sure how true it is. At least we can reserve ourself a better loan rate just in case. Anyone have apply for the loan and sign the offer letter. Mind to share out the loan details?
Hi Peaky,
Probably if u dont mind, share with us wat are the good investment that u have you invested at present. Thanks in advance.
Be careful.. lots of $$$ involved..
yeah, peaky... if you don't mind sharing what project you know that is good, that'll be great. or else, you can email me at penanghouse@gmail.com.
thanks!
peak this is my email monkeygoaround@gmail.com
thanks first
Currently I am looking at The One. Phase two. Go check it out.
Helo. I am looking for house in Penang and recently i come across this peak project and four season. Actually when my wife and i compare this 2 project, i myself look at the every detail of this 2 project. Not deny that the location of four season not really so good compare to the peak but in term of other things like density, convenience, facilities between walking and driving distance, the four season still is the best. finally i make up my mind and i book four season.
Peaky:-
The One by IJM, @ Sg Ara????
No Peak,
One Residence by Ideal properties. Next week soft launching. Now open for purchase. Phase one finished. I just book today. Go see the show house and be impresed by the offers...
Peak,
http://www.apartment-penang.com/2009/09/one-residence.html
Kok Wai/Peaky:- Thanks and noted the project. Anyway, its a different category.......
Ozi/ Monkey:- Will scan and email you guys the doc by this week....
:)
All buyers:- Maybe we can plan a meet and we come out to share some info and keep each other updated.... What do u all think?
:)
Peak,
Please send to my email as well.
ckwai18@gmail.com
Thanks!
Peak,
I am also the buyer, please send to my email as well.
ronoldyeoh@gmail.com
Thanks...
Recently i hear gosip from my friend that there will be total of 6 blok under that development where including low cost. But i not sure.
Tan:- As u said, its gossip... Yes, the 3 blocks of The Peak + 1 block (low rise) low cost apartment.... The vacant land in fornt (at the front door side) of the Peak, will be a high cost condo, under Ivory's future development project. But that one yet to confirm and finalized.
Btw Tan, understand u booked all season.. Do u get the 20k discount?
Ronold/ all buyer:- Wah, so many people i need to forward to........ Anyway, will try my best to email out by this week as my scanner got some problem here...........
Dear all,
Pls allow me to share more info..... Ivory going to build a "tourist mall" opposite Island Plaza, beside Tanjung Park, at the Ivory temporary glass office there. This tourist mall most probably will be at about 6 floor height (something same as Island plaza). This will be a value added project for "The Peak" in terms of the property value.....
:)
Hi Peak,
Kindly send the document to me as well, my email is wayz223@gmail.com.
Thanks for your valuable information.
Hi Peaky,
U said tat u've booked 1R. I've been going through 1R blog and seems tat there're arguments regarding Strata Title and Individual Title of the house.....Just wonder do u consider about tat and is tat an issue.....? Thanks....
Peaky:- Not mistaken, u did mentioned u r an invester.... How is ur previous investment goes? Good luck and wish ur future investment is +ve........
:)
Yes Mark. As an investor, this is not an issues for me at all. I used to own one property with individual strata title. I had to pay upfront 10+k. With share strata title, I don't have to. Like one of the blogger said, it has it's advantages and disadvantages and not one size fits all. I have no problems with that. Cheers
Peak,
Thanks for your kind wishes and same to all the Peak residence investor and home owner too. So far I have invested many properties such as Tg Park, E&O and Baystar... (all first launching) check out what happen now and you will know.
Helo Mr. Peak.
Ya, i book the the four season during the soft launch. 20K Discount. About the 6 blok, seriously i not sure as just i hear from a friend. any how for me the Peak is in good location and that area is driving distance to beach.
Peak,
Could u pls send a copy to my email as well, just booked a unit last week.
TQ. ^_^
irene_yh1213@yahoo.com
Helo guys..I am 1st time buyer and i wish to ask all the senior, overall pictures the four season and the peak which is more ok? i not local. thanks
hi all, can some 1 gv me some comment on condo in penang? lately i do check a few new launch condo. i need advice from u guys, now im looking on the peak, the oasis and all seasons. which 1 is better cos 3 also bout 1000 sf. n d price is around RM300k, pls gv some real comment ya. thks.
FeiKuo,
If compare in the sense of location. Peak off course is a very good living area whereas All Season u will suffer and headache for the traffic jam issue. For the layout, its all depends on individual preference. For the $ u pay for All Season to get a property in Air Itam area, I think u have many choice still......
Well, not much and not fair for me to comment more here as I m The Peak buyer. Off course I will be say The Peak is better as this suits me more.
Photo:- The Peak and All Season is "Free Hold" property and Oasis is "Leasehold". Not a concern if u dont mind.....
Lastly, if compare the completion date, I think will will be the longest (min3.5 year from now)...........
Sorry. Further to my post above, I mean The Peak will takes the longest period of completion.
:)
Mr. Peak.
Thank you alot. It very usefull to me. Personally I like the Peak where is near to Batu Feringghi.
Hihi...
i am 1st time buyer. i m looking for 300k FREEHOLD condo in penang island. still consider on whether to make a reservation on The Peak. Next weekend is property fair, any promotion will be offer?
MBB offer 2 type of rate
1. pay legal fee and BLR -2.3% (tie 3 years)
2 no need to pay legal fee and BLR -2.2% ( tie 5 years)
i am not investor, which one sound better ?
Hi Monkey:- By calculation based on own stay, Package 2 which the legal fees waive sounds more possitive....... Anyway, still no need to be too rush for the loan application. Will propose you to survey some other bank if there will be a better package....(before 31st Dec 09)
:)
Windy:- Next week is not a "real" property fair... Its more on auction..... Anyway, can try your luck there.......
By the way, "The Peak" will officially "kick-off" soon (approval obtained)..... By then, I believe the RM45k discount no longer valid... The most Ivory will offer is approx 8% discount (based on the normal practise).......
hi..Mr.peak ,
i understand that there will be a bank loan interest occured during their progressing claim upon completion of each construction's stage of the property said.( since Ivory not going to absorb bank loan interest and legal fee ) Would u mind to share with us normally how they ( BANK ) calculate on the interest rate. I wish to know all those hidden charges in future other than just paying 10%deposit , appx 4k to 6k lawyer and bank loan document etc ).
thx for sharing!
peak
Beside MBB, Any other bank offering better package?
We can sign more than one bank offer letter then only decide when the contruction start, corret me if i wrong.
monkey:u can apply for more than 1 bank then select the one u preferred....letter offer can only sign 1 bank....
peak:u mean they got the license for the project d???
Hi Peak, thanks for your useful information.
I went to Ivory office, the lanai unit left few units for 15th floor & above. If I pay RM5000 for booking, if i failed to get loan, can i get back my RM5000? any t&c apply?
Catleanne:- The Legal Fees is approx 3-5% of the purchase price. For the progressive installments payable, u can always check on your 3rd schedule of the SPA (S&P). For the bank interest on how much u got to pay over the progressing claim, u can always check with the bank. The mortgage personnel should explain to u clearly. This is their job. Anyway for the first year, the interest involve always will be a very small amount.
Monkey:- As Ozi mentioned above, u can always apply bank loan more than 1 bank. Upon approval, u can compare the package they (Banks) offer before u sign the letter of offer. Usually the bank will provide u a period of time in about 1 weeks time for u to decide before sign the letter of offer…….
Ozi:- Yes, Ivory get the license for the project last Thursday.
Windy:- Verbally, they-Ivory claimed that u CAN refund the downpayment if your bank loan not approved. But, there is NO black & white shows u can do so. In the letter of offer, it calls---U can write in 45days before “the option 6+6” expired to terminate the offer and u will get 100% refund. But it doesn’t mention on others reason u can refund the downpayment. Meaning:- In the legal rights, Ivory have the rights not to accept your request and forfeited your downpayment if u cancel the purchase……
Hi Windy,
Have u place your booking? Heart that Ivory going to have a "road show" in Gurney Plaza during 1st Jan 2010. But the price maybe increase by then.
Peaky: Thanks for ur reply.
Peak: What do u mean by RM45k discount? I just reserved 1 unit somewhere Oct and de lady just told us 8% discount. Do u mean de 45K is for those previous tat paid for de unfinished project? I bought 30th floor for RM380k and i heard that de price has gone up.
Mark,
You should not be paying RM380K. You should be paying only RM310K for this unit if you are talking about 1000 sq feet. This RM380K you jhave just paid is not right. Go check and get clarified. Good luck
Starry,
Thanks for ur info...help me save alot....anyway they didn't notify the previous purchaser about it......I got de discount now.....Many thanks to u......
Anyone know anything about Zan Pavilion.....?
This project is "super" near the cemetery. I am not sure if this will be a good investment. Furthermore, during Cheng Beng, the cemetery care takers will burn the bushes. As a result, you will have bush ashes in your lovely condo. :)
Hi andrew, agree with you, it is definitely have some cemetery view, since the high condo can have a good view for quite some distance, even gurney and komtar tower.
But depends on the economic condition, I guess the price can still be pushed up until 400k+ by the developer and investors, and the investors can cash in if there are buyers from overseas or those who wish to buy first house.... but as long the project can be started and completed, guess it is a safe investment but dunno one would earn 200k from it or not .
More than 10 years ago, the previous developer has issue blasting the hard rock hill for the base clearance and guess this time it should be fine...
The pity part is there will be more green trees be chopped and hill flatten for this project if not many considering living here and just for pure investment..then should have second thoughts ... guess no one will regret or rejoice until another 3-4 years :)
Andrew:- For the cemetery view, u can refer back to the comments earlier..... Also for cheng beng issues, its few days out of a year.....
Stanley:= Do agree with u on certain way. Anyhow, this property sure will fetch above RM500k provide the project does not cancel.
Btw, the site is not rocky. The previous developer was done lots of earthwork. Now what Ivory need to do before construction work is to clear some tree and bushes at the site.......
May somebody tell me is the price still same as previously?
1000ft - 288k intermediate, 317k corner.
1.5k increament from first floor
ncliang5:- Your statement above was history already.... U can always check the latest price with Ivory office....
:)
Any price increase or package change so far?
Happy Holidays.... May all have a wonderful Christmas and Happy New Year.......
Merry Christmas to all of u!!!
Maybank's offer is better.
free moving cost: BLR-2.1%
Non free moving cost: BLR-2.3%
Kok Wai:yea,u're right....the different will be the lock-in period....HSBC's lock-in period will be base on 1st drawdown and MBB's start from full drawdown....
I'm not sure bout MBB but we are offering fully flexi loan...
thanks
this few days ivory got road show in gurney plaza
The floor plans are not updated!
You can go to http://www.thepeak.my/ for updated information on the peak residences.
Hi all,
Happy 2010............. Anyway, does anyone know when will Ivory open block C for booking???
went there on Saturday 9/1/10, block c is not open for booking yet.
How was the sales respond up to now?
Wow, the sales responce is good for this project...
Block A and B left only less than 30 units out of about 400 units.........Meaning for block A and B is more than 90% sold.......
More importantly, when will the project officially kick off? Was at the actual site, only some notice boards (declaring the peak area) are up.
the 6+6 gets me really nervous.. seems Ivory may not have a lot of incentive to complete on time as this is not an interest free while under construction home loan package ..
Peak, do you know what the hold up is? has the legal issues reported previously been taking care of?
Also any ideas if Tanjong tourist mall is still on going? Expected completion date?
LRT in Tg Tokong? PORR? Tesco Tg Tokong?
these are what will give the area the needed boost to be the prime area.. fingers crossed..
Jon:- The actual date for this project to kick-off really no idea. But it should be somewhere mid of this year. Ivory had submitted to build the sales office at the site at Jalan Halia last year. The status at MPPP office was approval pending due to some indah water, Bomba and TnB reports. Anyway, 6+6 is a common practice for Ivory projects.......
For future area development, the above what u mentioned is under the proposal. But when, nobody knows. Its the matter of time....
:)
Is there any of the peak buyers have already secured the bank loan and sign the bank loan agreement with lawyers?
There is this MBB guy, Joshua which is very procrastinate in closing my deal.
He mentioned i oredi hav the BLR-2.3% package which is suppose to end 15th Jan 2010, but until now no news?
others, plz comment ur experience.
i have sign the loan agreement
Hi monkey,
How much do u pay for the bank loan agreement fees and which lawyer do u engage? If u uneasy to share it here, you can email me at wayz223@gmail.com.
Thanks.
the loan agreement fee i also put in to the monthly installment cause MBB do provide the service Is around RM 3-4K . The lawyer firm is Chow TS same as the signing s & p one
do any 1 go site c location ?
i go c road to small & behind the landed hse.now site occupied kampong hse
Dear all,
Anyone signed the SnP and stamped? I understand some of the buyer already signed the SnP(Official). I believe those had signed the SnP should be the first batch buyer. Does anyone had signed? Please kindly clarify. Thanks.
Dear all,
Just visited the sales office this morning and some updates to share.....
Block C opened for booking..... But the price eventually had went up to the average of RM20k. The previous package of discount RM45K is no longer valid. The new discount package is discount 10% from the house price + RM5,000 cash rebet..........
Anyway, just checked with the sales office as well as the lawyer, the targeted SnP stamping date will be somewhere in the month of Jun/July 2010.........
Thanks Peak for providing such a useful information.
i havent signed the official snp yet.
I haven't sign the Official SnP too.....I'm the 1st batch purchaser but no one inform me to sign..... :(
Called their sales rep n she say she'll check n get back to me (she sounds surprise)......
PS: They are slow or poor in doing their work, even when the price reduce after it has launch, I've to call n clarify n resign de offer letter instead of them calling me to do so.....
Hi Mark,
Are u sure u r the 1st batch buyer? When u purchase your unit? 2008?
:)
Wishing all & Family have a Happy and Prosperous Chinese New Year.... 金虎贺岁富满堂；新春福虎送吉祥。。。
At the same time, wish all have a Romantic & Lovely Valentine's day ahead.........................
Hi Peak,
Just curious that if the CNY offer price package by ivory is better than the price purchase for block A and B by previous owners that purchased some time end of last year?
Anyone have any information how does the current CNY package for the PEAK looks like. Thanks!
Hi Peak,
I'm Interested to buy The Peak, now is launching Blck C still have discount on 45%, is the good investment on this property? I bought few unit Apartment I wondering if my bank loan failed, are they retured back 100% ?Pls Advise, Thks
I was very interested in the project after talking to one of the sales person at gurney plaza today.
So, I decided to pay the project a visit to evaluate it's location.
Personally, i like projects that are located around tanjung tokong area. It is not too far away from town and gurney drive, at the same time it is a mere 15 mins drive to Batu Ferringhi.
So, my friends and i had to pay the Peak a visit to see its hidden potential.
To our surprise,the road leading into the Peak seems very narrow. I am not even sure whether it can be called a road since proper roads consist of tar and not mud in this case.
Never mind that, i told myself.
I was being optimistic about it,maybe they haven't commence work yet.
Upon arrival, the site looks very different from the pictures and models that i saw at Gurney Plaza. Opposite the Peak you will find "kampung" houses aka squatter houses located just a mere 40 meters away from the Peak.
Apparently, the kampung houses will not be going anywhere....so there goes the exclusivity of this condominium.
The land itself looks like a sloppy field filled with overgrown grass. A place where the "kampung" people would probably feed their cows. True enough i found a cow on that piece of land!
It has been almost a year or maybe even more since they started selling this project and yet nothing is done (not even piling) on the actual site.
I believe first impressions are very important, many people will usually judge a book by its cover. Hence, it is important for ivory to at least clear up the land to instill confidence to their potential buyers.
I heard that their other projects are not doing too well as well. Hence, the 10% + 5% discount.
Honestly, for Penang properties to be selling at a discount after 3 years of its launching can only mean one thing. Its projects are not selling too well.
If i am an investor, i wouldn't want to buy a property that will depreciate in value 3 years from now. Ivory projects are just very good examples of it. I feel sorry for those early birds who bought these projects 3 years ago to find out later that their properties did not only depreciate in value but has a discount to it as well.
Even, if it was only 10% (S&P), the opportunity cost involved would easily push the losses up to 30% taking into account the time, the interest being lost for parking the money there,the efforts and so on.
Nevertheless, it is a good time to pick up such properties at a discounted price.
hi..i just clarify with the sales rep at Gurney plaza, he told me in fact the kampung ppl there need to move out as the actual built up area is behind that kampung, not the area that having 2 cows now with the PEAK sign board on it...i just booked one too at block c, as the offer price seem quite good. The worry is whether they able to start the work as schedule...which the piling should be started by Jun
Thanks for the clarification WPK. I saw the land with the cows and the peak signboard on it as well, just a bit worried. Thanks for clarifying.
hi, i would like to clarify something as well... Ivory launched the project end of last year but not three years ago. When i booked a unit in block A, the sales representative did say that they will only start the project end of this year, so its not surprised that they have not cleared the site yet.
Hi Peak,
Actually i bought just last yr September.....Aren't 1st batch.....? Not sure but still till today she never return my call.....Bad customer service......hahaha.....
peak...would u mind tell me the spects n the price pls..very interested here...
Hi, i hav oredi booked a unit for tis property Block C high floor.. will sign S&P on 5 march 2010, how abt u guys?
Hi Tyler, i will sign S&P next week.
Block C almost sold out, now only left few units [low floor and above level 27 floor unit].
The Peak consists of 37th floor for each floor, do you all think it's too high and too risky to stay as it will be built along the hillside, can anyone of you give comment on this? Many thanks and happy CNY...
Oops Sorry, wat i meant was a total of 37th floor for each block, not each floor. does anyone of the buyer asked what's the ceiling heights? it's important to know ya...
Ivory Road show at Gurney Plaza from 14th Feb~ 22nd Feb........... New project "The Residence" located in front of Tanjunng Park was open for preview and booking.... More than 80% sold..... Crazy Ivory's project n Penang Property selling/ buying like hot cake...........
Hi Jeremy:-
Please allowed me to clarify. This project was NOT depreciated even with the 10% + 5% discount. If u follow the pricing from the begining till now, the price was appreciated in the everage of 5-8% (after all the discount at the same floor level) from mid of 2009 pricing. If u talking about 3 years back of the 1st batch buyer, for sure they enjoy higher % grow in terms of pricing. Well, the discount 10% + 5% is to attract new buyer for block C. Those old buyers not paying the money for nothing.....
:)
By the way, the project not launch 3 years back. Its under the stage of preview till end of last year.......
Hi Cecilia:-
I believe Ivory was capable enough to handle highrise project at hillside...... As per the name of the project, the higher u stay in, the better air/ view u will enjoy..... Dont u agree? I did ask the ceiling height before but forgotten. Not mistaken should be 10 or 11 feet...
:)