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Property Insights & Reviews : Palazio

Palazio

Johor Bahru

0 for Sale

0 for Rent

Freehold

F/H
Palazio is a high density serviced apartment nestled in Taman Mount Austin, Johor Bahru. The apartment is surrounded by abundance of amenities and residential neighborhoods such as Taman Mount Austin and Taman Austin Perdana. This serviced apartment is to be developed in 3 phases, Phase 1 comprises Oakwood and Pinewood, Phases 2 comprises Maple and Mulberry, and Phase 3 comprises Alderwood and Cedarwood.Palazio comprises 6 blocks of serviced apartment that consists of a total 1,160 units. There are several types available, from studios with 484 sf to standard apartment size of 1,097 sf which hosts 2+1 bedrooms. This apartment is served by aplenty of modern facilities including gymnasium, swimming pool, gymnasium, Jacuzzi, tennis court, basketball court, BBQ area, sauna and badminton court to name a few. Palazio is conveniently located near to numerous amenities, including Sultan Ismail Hospital (less than 1km), Sunway College (2km) and Austin Hill Golf Course (2.5km). In addition, Palazio is just a stone throw away to a few retail mall namely Jusco Tebrau City, Tesco tebrau City, Carrefour Johor Bahru and the proposed IKEA. There are also several schools in the area, namely SK Taman Johor Jaya 1, SMK Taman Johor Jaya 1, SK Mount Austin, SJK (C) Foon Yew 5 and SRK Mount Austin.

Property Details

  • Name: Palazio
  • Address: Taman Mount Austin, Johor Bahru, Johor
  • Developer: Mayland Austin (a subsidiary of Mayland)
  • Completion Date: 2014 (estimate)
  • Type: Serviced Apartment
  • Tenure: Freehold
  • No. of Blocks: 6
  • No. of Units: 1,160
  • No. of Bedrooms: Studio – 2+1
  • No. of Bathrooms: 1 – 2
  • Built-up: 484 – 1,097 sf
  • Maintenance Fee: RM0.20 psf
  • Launch Price: From RM98,888 – RM259,484
  • Layouts

  • Type A1: 484 sf (Studio)
  • Type A2: 484 sf (Studio)
  • Type A4: 420 sf (Studio)
  • Type B2: 538 sf (Studio)
  • Type C1: 1,097 sf (2+1 bedrooms)
  • Facilities

  • Gymnasium
  • Sauna
  • Swimming pool
  • Children playground
  • Reading room
  • Tennis court
  • Badminton court
  • Basketball court
  • Landscape garden
  • Cafeteria
  • Mini market
  • Launderette
  • Multifunction hall
  • Analysis

    The launch prices of Palazio range from RM98,888 to RM259,484. Early birds were given 10% discount and further 5% to Bumiputra purchasers. The developer offers Developer Interest Bearing Scheme (DIBS) that only requires buyers to pay RM2,000 as booking fee and nothing else till completion. Even though the price tag of Palazio is indeed affordable and cheap considering the location and the facilities offered, buyers are spoilt for choice as most properties in the area, including a terrace house are priced from just RM200,000 – which is still affordable by many and comprises larger space. There is a concern whether Palazio's supply can meet the demand. This apartment is among the pioneers of serviced apartment. Hence, the market for serviced apartment is untested and it is afraid that JB residents are not into small apartment since landed properties are still cheap. Besides that, this development itself is a high density development with over 1,000 units. And Palazio is just a stone's throw away to Austin Suites. However, there is a report saying that crime rate in JB is on the rise. Hence, there is a niche market for people who have major concern on security. Besides that, student market is a good target market for rental income as Sunway College is just about 10 minutes walking distance from Palazio. With RM100,000 price tag for Palazio, a studio rental of RM700 (that shall deliver positive cash flow) is definitely a steal for students who can own the studio all by themselves.

    Location