Vista Condo property value

one of the main challenge for the MC is to keep the value of the Vista Condo property to march the market value as other similar apartment in this nearby area.

for the 700 sqft apartment in Bayan Baru & Bayan Lepas area, those low density one can be sold as much as RM350k to RM400k like our neighbor Villa Condo, even Desa 2 also can fetch abt RM380 for the higher floors, but lower floors abt RM300K, Vista Condo at the moment selling in between RM300K & RM330K, which is still higher than many poorly maintained 700 sqft apartment but we can't take things likely or else our value can't catch the market trend.

one thing we are doing now is to keep the number of foreigner hostels as low as possible, we know that it's very hard to get rid of all the hostel, but we manage to keep it below 5 then it should be quite ok, we can't afford to let our apartment to be another flat 88 or those apartment behind the Relau Public Bank, the number of the foreigner hostels is so high until the property value of these apartment are abt 50K to 100K below the market value!

we also pay special attention to the very important facilities, which will affect our day to day living, especially the lifts, water tanks, the pumps, etc. we do notice that some of the apartment in Penang do face the lift problem on the regular basis, and news spread very fast with the help of internet, things such as all the lifts can't function so residents need to climb staircase for many weeks, even months, or water tank leak so badly until many part of corridor or house can't be used...one common abt these apartment is, their property is greatly affect by the malfunctioning of the important facility. our preventive action for the mentioned problem is to make sure our SC collection is sufficient to maintain & improve the existing facilities, and maintain good term with government & insurance agent so that when need them to help us on those major repair then we know where to run to :P

we believe if Vista Condo continue to be well maintained, the value will continue to soar as we are located at the very strategic location, near to industrial zones, shopping places like Queensbay mall/tesco/giant/sunshine, learning institutes & schools, also the 2 bridges, airport, durian haven balik pulau, even travel to town or even northern part of Penang also not even 45 min :)

thanks.