HWZ Forums

Login Register FAQ Mark Forums Read

Our property investment journey in Melaka

Like Tree6Likes
Reply
 
LinkBack Thread Tools
Old 09-10-2018, 06:54 PM   #1
Junior Member
 
Join Date: Oct 2018
Posts: 27
Our property investment journey in Melaka

*Disclaimer: This is for sharing purposes only and is not in any way intended for advertisement purposes. Please consult with your own real estate professional to determine if this is a good investment for your situation.*




My wife and I are in our mid 30s with some savings and one day, we decided it’s time to get an investment property.

We looked at getting a 2 bedroom condo in SG. To the shock of our lives, a 2 room leasehold condo in Jurong is going for S$1 million.

For the following reasons we concluded investing in SG property is financial suicide:

1) Oversupply: many landlords are unable to rent out their properties and those who succeed are often unable to secure rental yields high enough to cover their mortgage payments.

2) High upfront costs: Buyer and Additional Buyer Stamp Duties alone will be S$144,600.

This doesn't include other costs ie renovation, furnishing, agent commission to rent out the property etc

3) Miserably Low Loan to Value: In SG, one can only get up to 45% loan to value mortgage for their 2nd property. This means my cash outlay immediately is 55% or S$550,000 minimum. If the banks value the $1 million property to be worth $800K, my loan margin will be much lower!!

4) Rentability: There's zero guarantee we can rent the condo out at the price we need to cover our mortgage payments. Failure to rent out a property can have a devastating effect on one's finances. So much so that some of my neighbours have had to sell their investment properties in Singapore for huge losses due to this alone.

So what did we do?

Long story short, we were in holiday in Melaka when we chanced upon Hatten's sales gallery.

A consultant there introduced us to their latest project, Harbour City.
A mixed development, it comprises of a mall, hotels, serviced resorts, and Melaka's first indoor/outdoor theme park.

After looking at the floor plans, we decided to purchase a 2 room serviced apartment for the following reasons:

1) Managed for us: Hassle Free, we needn't worry about looking for tenants etc

2) Rental Guarantee: 6% for 6 years, after calculations is more than enough to cover the mortgage payments thus leaving us with positive cash flow

3) Financing Available: we were able to lend up to 60%, much high than Singapore's miserable 45%

4) Listed Developer with track record: Listed in Singapore, Hatten is one of the largest developers in Melaka with a huge portfolio of malls, hotels, serviced apartments and condos - they must be doing something right to be this successful.

5) Bigger Picture: Upcoming Melaka Gateway, right next to Harbour City, will create over 45000 jobs and attract over 2.5 million tourists yearly. High potential for capital appreciation and rental demand.

This investment was a no brainer and we've since signed off the Sales & Purchase Agreement in their Singapore office without hesitation.

If you'll like more info, pm me and I'll have my consultant contact you directly.

Thanks for reading and hope this opens your perspectives on property investment opportunities overseas.
__________________
Everything in moderation can be good for you. Yes, that includes chicken rice.

Last edited by chickenrice82; 11-10-2018 at 11:16 AM.. Reason: Disclaimer added
chickenrice82 is offline   Reply With Quote
Old 09-10-2018, 06:59 PM   #2
Supremacy Member
 
Join Date: Jan 2007
Posts: 6,428
can u share which exact unit u buy, how much, any discount, where can dl floor plans...

better answer fast b4 ppl flag this as advertisement ,bro...
__________________
"Was he cool?"
"Yes he was..."
"I'm Mary Poppins yo"
trailblaze is offline   Reply With Quote
Old 09-10-2018, 07:00 PM   #3
Arch-Supremacy Member
 
Wishdom's Avatar
 
Join Date: Sep 2014
Posts: 10,487
I'm gonna bet everything that you are the ''consultant'' himself.

Mod please delete thread.

Sent from Ilovennp using GAGT
Wishdom is online now   Reply With Quote
Old 09-10-2018, 07:01 PM   #4
Supremacy Member
 
Join Date: Jan 2007
Posts: 6,428
see? cmon bro...u have maybe 1-5min to prove yourself if u r lucky
__________________
"Was he cool?"
"Yes he was..."
"I'm Mary Poppins yo"
trailblaze is offline   Reply With Quote
Old 09-10-2018, 07:18 PM   #5
Senior Member
 
Join Date: Mar 2017
Posts: 513
Mark up the price 50% then pay 6% per year? Sound like a good plan.
Toni90 is online now   Reply With Quote
Old 09-10-2018, 07:30 PM   #6
Supremacy Member
 
Join Date: Feb 2011
Posts: 5,053
TS will probably have better luck in EDMW where the IQ levels are generally lower across the board and where people believe that a property investment in Msia is comparable to SG
ocs_woodlands is online now   Reply With Quote
Old 09-10-2018, 07:53 PM   #7
Junior Member
 
Join Date: Oct 2018
Posts: 27
Mark up the price 50% then pay 6% per year? Sound like a good plan.
Just found out there's a developer in Singapore which is offering guaranteed rental returns.

Are you saying that this developer is Mark up price then pay a certain % every year?
chickenrice82 is offline   Reply With Quote
Old 09-10-2018, 07:54 PM   #8
Junior Member
 
Join Date: Oct 2018
Posts: 27
can u share which exact unit u buy, how much, any discount, where can dl floor plans...

better answer fast b4 ppl flag this as advertisement ,bro...

How is sharing an experience considered advertising?
chickenrice82 is offline   Reply With Quote
Old 09-10-2018, 08:19 PM   #9
Master Member
 
Join Date: May 2017
Posts: 4,142
How is sharing an experience considered advertising?
1) Account created in Oct 2018

2) First post is about your "Experience in Malacca Property".

What do you think?
JuniorLion is offline   Reply With Quote
Old 09-10-2018, 08:23 PM   #10
Junior Member
 
Join Date: Oct 2018
Posts: 27
1) Account created in Oct 2018

2) First post is about your "Experience in Malacca Property".

What do you think?
How does my first post being about my property investment journey = advertising?
chickenrice82 is offline   Reply With Quote
Old 09-10-2018, 08:25 PM   #11
Master Member
 
Join Date: May 2017
Posts: 4,142
How does my first post being about my property investment journey = advertising?
You create an account just to write about this? What do you get out of it?
JuniorLion is offline   Reply With Quote
Old 09-10-2018, 08:34 PM   #12
Senior Member
 
Join Date: Sep 2006
Posts: 553
Sales talk ar ?

Next please.
Thoreldan is offline   Reply With Quote
Old 09-10-2018, 08:35 PM   #13
Arch-Supremacy Member
 
Join Date: Jun 2002
Posts: 11,839
Moderators on holiday?
__________________
Too many stocks = market returns. You are better off buying the index.
MikeDirnt78 is offline   Reply With Quote
Old 09-10-2018, 08:36 PM   #14
Senior Member
 
Join Date: Sep 2006
Posts: 553
TS will probably have better luck in EDMW where the IQ levels are generally lower across the board and where people believe that a property investment in Msia is comparable to SG
Muahahha good one
Thoreldan is offline   Reply With Quote
Old 09-10-2018, 08:36 PM   #15
Master Member
 
Join Date: May 2017
Posts: 4,142
Funny thing is he said "He looked at floor plans and decide to buy"

I wonder such testimony is credible? If someone told me he bought because of floor plans, I would doubt his credibility.
JuniorLion is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On