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Melaka Property - Harmony Condominium

 
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cmsiew



Joined: 22 Jun 2005
Posts: 1

PostPosted: Wed Jun 22, 2005 1:19 pm    Post subject: Melaka Property - Harmony Condominium Reply with quote

Hi, I am a Singaporean. I am thinking of investing in a free hold unit in Malacca - Harmony Condominium off Ujong Pasir. It is quite near town and industrial estate.
The owner asked for RM330,000 (negotiable). I think it is about 1600sqft and at 3rd floor.

Anybody, any advice?

How does foreigner get loan? What are the kind of taxes, stamp duty etc. that I have to look out for.

For the same value of RM320k, is there anywhere else that I can better park my money?
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Siew C M
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Wed Jun 22, 2005 3:05 pm    Post subject: Reply with quote

Advice 1: Forget buying for the time being.

Advice 2: Read the postings in this forum.

Advice 3: Stop reading property investment articles that are printed in Singapore. Property 'investing' in Singapore and Malaysia are VERY different and most Singaporeans don't understand this. This is not the same as buying petrol across the Causeway.

Advice 4: Read Malaysian newspapers. Understand the market and your investment.

Advice 5: Understand taxes. This alone is enough to throw off most foreign investors. Unless you plan to evade tax.
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winter



Joined: 20 Jun 2005
Posts: 134

PostPosted: Mon Jun 27, 2005 5:44 pm    Post subject: Reply with quote

Hello Banzai,

What is the difference between property investment in Singapore and Malaysia?
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Mon Jun 27, 2005 6:20 pm    Post subject: Reply with quote

Too many to list and i've mentioned in a lot of articles scattered throughout the forum. If you do a search on "HDB", you should pull out all the listings.

To sum up, one is a strictly controlled market, the other is much less controlled (in fact, it is probably anybody's game). Creative CEO sums it up as the No-U Turn Syndrome (NUTS). Read the article below.

..sharontan.nomadlife.org/2005/04/sim-wong-hoo-on-nuts.html

If you don't understand, don't worry yourself too much Smile
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candic3



Joined: 07 Jun 2005
Posts: 96
Location: Alliance (Mortgage)

PostPosted: Tue Jun 28, 2005 1:18 am    Post subject: Reply with quote

You can check the market value with valuer. Details as below are needed: -
1) Property Address
2) Property Type
3) Built up size
5) Purchase Price
6) Renovation types & cost

For foreigner who wants to purchase property in Malaysia, you should get FIC approval. Foreigner is allow to have up to 3 properties here. If you like to get a loan in Malaysia, the margin wouldn be high. Its also depends on case by case basis.
My customer got offer of 85% of MOF from Standard Chartered but they working in M'sia.
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