QUOTE(omg528 @ Jan 21 2013, 08:23 AM)
how u withdrew from the booking? I heard the sales said cant withdrew once make booking,unless loan was not approved...
the 15 yrs guarantee attracted me...
and u booked which unit?
KL at least also need 500K above la...expensive...
in fact i just talked to the marketer for withdrawal. 2 days after I withdrew, they increased additional $15K per unit. They were selling fast, they won't mind your withdrawal.
initially 15 years return attracted me as well, the corrected terms shall be 1st 9 years with guaranteed 7.5% return, 10th to 15th year unguaranteed 8% return, so the attraction is diluted.
however I foresee there are too many hidden costs in the future, e.g.
- low demand in future sub-sale market, return may be cut down should owner asking for higher price in future, this won't be attractive in sub-sale market.
- appreciation of hotel room charges in Melaka is discouraging. Look at numbers of new hotels in Melaka coming up VS the growth of attraction in town.
- should management plans to terminate tenancy with owners at 15th year, there may not have major refurbishment works by end of tenancy. Therefore owner has to spend own money for refurbishment either to sell or to keep renting.
- ROI in 10 years is not exceeding 5% p.a. averagely including assumed appreciation shd u take loan, unless u buy with cash.
- heard tat 1 of the vip has sold off 1 of his biggest properties in Melaka, so why shd i dump money in Melaka? better chao now, i m coward u might say perhaps.
What do u think? hope to have ur comments.