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Process of purchasing a service apartment, The processes and the related fees
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langstrasse
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 Oct 4 2016, 08:20 PM
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Folks, I have a few questions related to this topic: 1. Are there any specific risks to buying a commercial title condo (@ serviced apartment) due to it not being under HDA ? 2. Is it possible for a commercial title condo to be under HDA (I remember seeing an ad online where the agent stated "commercial title but under HDA" - not sure if this is true. 3. I googled online and based on this article below, it seems that HDA coverage only matters if the property is under construction. What if I'm looking to purchase a subsale condo with commercial title ? - any potential issues to be wary off ? http://propertyinsight.com.my/blog/buying-hda-properties/Any advice is appreciated  |
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langstrasse
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Oct 5 2016, 04:32 PM
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QUOTE(lifebalance @ Oct 5 2016, 01:45 PM) 1. No issue, when you apply loan it will fall under commercial property rate 2. Yes, then you can apply under residential loan 3. Only applies to undercon, if competed will fall as commercial property Hey thanks for your responses. Any idea what would be the estimated difference in interest rates between a residential and a commercial title condo ? Assuming the same criteria - 30 year loan, loan amount 500k etc. |
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langstrasse
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Oct 6 2016, 09:03 AM
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QUOTE(lifebalance @ Oct 5 2016, 04:50 PM) Commercial property you can max loan about 85% only Tenure is also shorter from 25 - 30 years depending on the bank. Interest rate is slightly higher at 4.4% onward whereas residential is 4.3% lowest. Thanks for taking the time to explain, I wasn't aware of the impact to loan tenure and interest rates. (Only knew about the higher utility tariffs). |
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