Sky Garden or South Hills
Thank you for this blog, I found it very informative. I would like to invest and buy 2BR apartment unit with budget less than IDR 5 billion. After read your blog and survey the property, I narrowed down my options to Setiabudi Sky Garden and South Hills. I didn't see the South Hills review, but I had visited the site recently. I am impressed with the interior and luxury facilities but the apartment still in low occupancy. I will most likely purchase the apartment and rent it out. Which one do you think have the most potential and why?
At first, I also consider to buy 2 unit mid-range apartments like Sahid Sudirman instead of buy 1 upscale/luxury. But actually I don't really like the bad conditions/maintenance of sahid/mid-range apartments 🙁 What do you think?
Thank you so much
I did a comparison between Setiabudi Sky Garden and South Hills. I found out that basically, the prices are almost the same. You can expect to pay around IDR35-40M per m2 for an apartment, and you will get a return on investment after 13 years on average (not including expenses, taxes, charges, etc).
Personally, I would go for Setiabudi Sky Garden because it's already popular with expatriates, in particular with Japanese, and the maintenance is proven to be good. The developer also has a good reputation (and one of the shareholders is Japanese).
South Hills is also interesting because it is brand-new, and the occupancy still low (meaning the price is still reasonable). The developer is not as famous, though, so there is some uncertainty about the future quality of the maintenance.
Overall, maybe keep both options open, and try to find an apartment in either one of those complexes that offers the best value for money/best investment potential.
Regarding your idea of buying two cheaper units in a midrange complex, why not, but maybe it could be more strategic to buy in two different complexes? For instance, Sahid Sudirman and Sudirman Suites which are both nearby.
I hope it helped,
I never visit Sudirman Suites. I read your review and found that the location is really good. I’ll check it.
Btw, I also read your review about District 8 and Pakubuwono View. Although these two are beyond my budget 🤭 What do you think, compare to sky garden.
In terms of facilities, Sky Garden is quite nice and not bad compared to District 8. Compared to Pakubuwono View, it is actually better.
The big difference is the size of the apartments. A 2-bedroom apartment in Sky Garden is 70m2 whereas it is 105m2 in District 8 and 140m2 in Pakubuwono View.
The strength of each of these properties is different:
- District 8: New, perfect location, great facilities, affordable price because of low occupancy
- Pakubuwono View: Reputed brand, expat tenants, good maintenance (but a bit old now), high occupancy
- SkyGarden: Good location and neighborhood, reputed developer, good maintenance, expat tenants
I think all these properties can offer good investment opportunities as long as you find the right unit.
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