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the selling price is too expensive already for an empty/ kosong condo with that size. after renovation and fully furnish, the condo is very costly and rental wise is not justify and will not fetch good rental price and low
feng shui is not good and the feeling is weird when going into the condo. when the evening sunshine at the office block and behind the condo facing the office , very hot indeed, need a thick curtain to block off the sun. specially tailor made curtain.
how much is the monthly maintenance, sinking fund, fire insurance, acessment, cukai pintu etc? utilities bill is under commercial rate due to service apartment
how much is the rental price for fully furnish or non furnish?
market price is just a figurative amount/guideline provided , the seller sells it is another thing. talk of how much how much, just talking but cannot sell whats the point.
do encounter alot of agent talk alot of properties wanted and got buyer, but when the seller wants to sell , it takes them months or years even also cannot sell and then talk another thing/excuse. market price mah, and then lower selling price/feng shui no good/ alot other choices/unit to sell, better one etc. talking of not selling expensive price just market price and below even also like that. agent alot just dont care what they sell, just want commision and go to the next one. alot of manupulation by the property agent here and there jacking up price, saying alot of buyers waiting/queuing to buy etc. talk alot but no action
dont think is easy to rent, unless very cheap rental. have alot of hidden cost and followup as well as hidden process, agent fee, advertising fees, any appointment for viewing by potential tenant (have to go with agent and the tenant to view bcos the properties keys is with the owner, very troublesome), time consuming. wear and tear/paint worn off/dirty/ maid to wash the place(curtain/bed sheet etc) the property/lighting/equipment spoilt for repair/air condition service/water heater, leaking etc for the next tenant to view. some tenant very fuzzy, dont like the renovation, different taste etc alot of requirement replace new door lock after each tenant leave etc.
the process of sell/ buying a property takes aleast 4-6 months to settle everything, agent already takes the commision and run off to another deal. some even dont followup already
property market is too liquidation and not own $$ floating around whereby buyer still serving loan for years to come. one passing to another (flip flop). fully settle house/condo the % is minimum. bank still owns the property. how fast can the buyer settle the loan 5years- 50 years etc? the longer the loan serve the better bcos the bank earn more interest with such a huge amt of loan serving. the bank is laughing behind already monthly indirect income or in order words, properties buyers is paying the bank salary/working indirectly for the bank for many years to come. Hard earn $$ wont simply buy things, only easy come easy go $$.
eg. loan rm300k interest average 4%, interest alone yearly rm12k, salary average rm3k, 1k serving housing interest only every month. remember compounding interest and the principal loan have not touch and by just taking 4% interest rate whereby base lending is 6% above and increasing. 1 year interest is rm12k, 10 years interest is rm120k, the longer it serve the loan, the happier the bank is. 30 years interest , the bank have a free house/condo, even 10 years loan interest the bank already have a low cost apartment indirectly. just imagine so many borrower. fatt leh
anything that is sold can only consider profit (just like share market, say price can go to how much etc, but it also can drop back) anything not sold also cannot say is profit yet. property market is the same, property market price how much etc talk only, if cannot sell, have to service the heavy loan interest and other hidden cost monthly.
if really calculate selling property is just a force saving, unless a new property can quickly flip flop else in the long run not much. the loan interest kills the buyer with such a huge amt of loan.
rental is just helping the owners loosen the loan abit but if the owner dont fork out more $$ to payup the loan is also no point in the long run. majority of the rental $$ , Have to save for upkeep/ wear n tear and refurbished the place later on and partial is for maintenance/sinking/insurance/acessment fee/ bad tenant run away/ not paying utilities bills etc.
This post has been edited by lowyat888: Sep 11 2010, 01:07 PM
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