Mar 24 2020, 11:08 AM
QUOTE(Agger5 @ Feb 3 2020, 08:35 AM)
Hi..i need you guys opinion in my current situation.
On 2017, i was looking around for property and spotted this apartment which i like but was blown out of my budget..the price then was rm420k, after much consideration i didnt take the risk.
2020. Surprisingly, the unit price has come a long way down to rm330k and this time i think i can afford the apartment. However, after some research, im concerned on the leasehold status. Currently it left with 60 years+ of tenure and my plan is to rent the unit for 2-3 years and then i will stay there myself maybe for 5 to 10years max. By the time i want to sell the property, the leasehold tenure will left less that 50years.
My question is, is it worth it? What is your advice. Below are some details of the unit
Location: good location
Target tenant: family, expat, student (few college around)
Current rental rate: rm1300-rm1500
Maintenance: rm180/970sqft
By the time you want to sell, you must take into account who would buy a property with less than 50 years leasehold tenure. Your selling price has to be adjusted to factor this in as well as premium payable for extension of leasehold (or at least to account for the remaining years) and also purchasers bank unlikely to finance property with less remaining leasehold tenure.On 2017, i was looking around for property and spotted this apartment which i like but was blown out of my budget..the price then was rm420k, after much consideration i didnt take the risk.
2020. Surprisingly, the unit price has come a long way down to rm330k and this time i think i can afford the apartment. However, after some research, im concerned on the leasehold status. Currently it left with 60 years+ of tenure and my plan is to rent the unit for 2-3 years and then i will stay there myself maybe for 5 to 10years max. By the time i want to sell the property, the leasehold tenure will left less that 50years.
My question is, is it worth it? What is your advice. Below are some details of the unit
Location: good location
Target tenant: family, expat, student (few college around)
Current rental rate: rm1300-rm1500
Maintenance: rm180/970sqft
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