Today wake up with slightly tired as slept at 2am last night after catching up Argentine Vs Belgium Quarters final game.
After the Sunday services in Penang, I went to Penang MITM Travel Fair 2014 to scout any good deals on Gold Coast ground arrangement.
None of the deals is great. DO not understand why there are still so many travel makers throng to this kind of fair whereas the deal is not attractive.
Then we went to Queensbay mall after lunch to window shopping. As usual the property booth will attract me. The brochure is given to me as below. The WAVE claimed is the first high rise development in Melaka. I am confused. Then what is Hatten Square and Atlantis? There are not categorize as high rise? Is okay, I am not going to pursue on this high rise or not high rise.
Location wise is a great place, just nearby the Jonker Street. The agent rate in mentioned that the Hotel occupancy rate in Melaka in the weekend is 100%. Their promotion Package headline is LOW CAPITAL, HIGH REBATE.
Below is the detail calculations for TYPE A (645 sqft) :
Selling Price: $ 451,500 (~ $700 psqft)
Down Payment: $ 9,030
90% Loan: ($406,350)
Rebate 18%: $ 81,270
10% SNP: $ 45,150
Installment for 30 years = $2,000
Immediate Benefit *% = $36,120 + Down Payment 2% =$9,030
Total Refund = $ 45,150
Eh, this is total a
NO MONEY DOWN Deal.
Once Completion, rental forecast 14% per annum.
Once ready, owner required to pay $15,000 for the renovation and furnishing.
Forecast Rental = $450
Total rental days = 10 days
Total rental collections = $450 x 10
= $4,500
Management fees = 10% x $4,500
= $450
Cash flow = Total rental - Monthly Installment - Management fees
= $4,500 - $2,000 - $450
= $2,050
Based on previous record, upon completion of each project, the appreciation is 15% each year.
Hence forecast that after getting CF/OC in 2016, at least profit $130,000!
Booking fees is $2,000 now, remaining $7,030 to be paid upon signing SNP.
After 30 days of signing of SNP, the Total refund amount will be rebate to you.
Comparing the per sq ft price booked earlier on Atlantis Residence is $540 per sqft, which is 23% cheaper.
Now the marketing of the new launch has a lot of freebies and gimmicks.
Really have to be look into all the numbers and do a thorough comparison in order to scoop out the BEST deal.
Again it all depends on each individual what do they want to achieve in each investment. Good LUCK!
Additional 2 notes:
1. According to Tourism Malaysia Statistic, the number of Malacca visitors is 1350 million people in year 2013, it translate to 112 million visitor per month visit in Malacca.
2. Malacca has only 250 hotels (5000 rooms), unofficial; temporary short supply
