When I first came to Penang Island in 2004, I spend the most time in around USM, Sungai Dua area. This area is very convenience with all the amenities around such as food court, hypermarket (Macro and current become Tesco Extra), banks (RHB, AmBank, Hong Leong Bank), fast food chain (Mc Donald, Pizza Hut). I strongly believe all the amenities here are well caters for the USM students.
As such, when I wanted to settle down in Penang and thinking of buying my first house in Penang, Sungai Dua is the first choice. 10 years ago, I still do not know how to buy right for the first property. What I know is for own stay, it has to be convenience and the price is right for me. Desa Airmas is the only new launch at that area at that time and I will not consider any secondary market. This is because I carried the old mind set from my family better do not own “Second Hand” thing.
I went to the show house beside the Yellow House at that time and straight away make the booking on the spot. I did not do much research on the developer background at that time. Because I do not know what to do. When I reflect back, how daring I am to commit $230,000 without doing much research. In my SNP, it is called Desa Airmas Medium Cost apartment. However, when it is ready, it is called Desa Airmas Condominium, an upgrade for the title, a bonus for me.
In term of location, Desa Airmas Condominium is located within the residential and commercial area in Sungai Dua and has easy access to University Sains Malaysia (USM – just opposite), Penang Bridge, Bayan Baru, Free Trade Zone, Bayan Lepas and Penang International Airport.
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Desa Airmas Condominium consists 2 blocks of 20-storey building on each block. Only 221 units in total. The neighbourhood of Desa Airmas are Desa University, Universoty Heights, Desa Permai Indah and Sri Saujana. It completed on June 2006. I still remember that I moved in Oct 2006 2 months before my first child is born.
I bought my unit at Desa Airmas in 2005, there are still a lot of unit to choose from even though the project has been launch a year ago. My unit came with 2 car parks. The maintenance plus sinking fund is $175.90 increased from $165.00.
Rental at Desa Airmas Condominium
The rental at Desa Airmas condominium can fetch from $1000 till $1800 depending on the house condition and number of car parks. For a bare unit, it will only be rented at lower price at $1000 and fully renovated with full furnished unit, rental can fetch up to $1800 per month.
Price Check on Desa Airmas Condominium
I observed that there are a lot of advertisement wanted to sell their unit ranges from $640K till $660K. Calculating the compounded annual growth rate for my first property, it give me at the rate of 11.12% p.a
It really a good decision back then with a blur blur guy to buy into high risk product from an unknown developer. Thanks God that it turn out to be good with project successfully delivered to me and gaining from great price appreciation.
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