Puteri Harbour Community

[arcojos]

I have some info to share on Teege like furnishing, facilities, service charges, etc etc.

View attachment img-121129130550-0001.pdf

 

[Investor]

No chance when Pinewood is doing RM1200 without much sales effort.
Maybe in Medini, you can get 600psf but not in PH.
In a bull market, there's no fundamentals. There's only greed.

Totally agree!!! In my humble opinion, sometimes we can make big profit from investments just by understanding some simple facts about human behavior.
One of the few reasons I invested in Nusajaya in 2010 is knowing the fact that greed-driven demand will come in 2012.
The quote below was what I shared about human greed versus fundamental(rental yield) in a discussion back in 'Living in JB 1'.

Originally Posted by Investor
... ... ... ... another important and interesting thing to know is that we can never stop human greed. It is this greed which will bring in the investors when Nusajaya comes alive by end of 2012. This greed will continue to push prices up for the next few years, even before Nusajaya sees strong rental demand due to strong economy as stated above by yourself. By around 2014-2015, if I see that Nusajaya's development is not that fantastic and demand driven by greed is dwindling, I still will have plenty of time to sell off my excess units for profit as prices would already be near double of my buying price.

In order to make profit from Nusajaya's properties, we don't need Nusajaya to reach the stage of full success and full development At ALL.
I would like to repeat that Nusajaya doesn't need to reach it's full development stage to see greed-driven demand of properties which will push prices up and giving you profit. By the time it comes alive in 2012, greed driven demand will arrive.

I'm talking about this just on a 'profit-making' point of view. Not about sustainability of Nusajaya as that's another view totally.

Here's the link to the full post http://www.sammyboy.com/showthread.php?35746-Living-in-JB&p=897131#post897131

 

[quartz28]

So far me and my friends only bought SPH from them. Actually, for Somerset Puteri Harbour, I have been looking out for. he project 6 months before it is soft launched. First noticed in the news when Somerset inked a hospitality contract in Iskandar. Then when I received mailer from NS Global, straight away I know what products it was and headed for their office to chop the units way before any soft launch. Although I have chosen all the units with partial marina view (total 8), end up only 4 are available as the Directors got the upper hand to pick first.

Thanks for your reply. ... same here, being looking at there since Sep last year before soft launch (got to know early from one of the agent b4 they launch )...decision btw SPH and horizon hill...though higher psf;,selected SPH as got rental guarantee and potential long term appreciation (more of speculative buy)...

Understand you are in kl Market also. .... would like to seek your opinion.... I'm actually vested in kl ampang area (condo in the midst of all the embassy) ....what do you think of the prospect of kl area (golden triangle) in the next 3yrs and ampang embassy area?

 

[DCputeri]

Did you see the exit strategy of the hotel operator in the contract? Why are they leveraging on your money if they can make more money? What is your risk vs their risk?

Thanks for your reply. ... same here, being looking at there since Sep last year before soft launch (got to know early from one of the agent b4 they launch )...decision btw SPH and horizon hill...though higher psf;,selected SPH as got rental guarantee and potential long term appreciation (more of speculative buy)...

Understand you are in kl Market also. .... would like to seek your opinion.... I'm actually vested in kl ampang area (condo in the midst of all the embassy) ....what do you think of the prospect of kl area (golden triangle) in the next 3yrs and ampang embassy area?

 

[Dfiris]

Did you see the exit strategy of the hotel operator in the contract? Why are they leveraging on your money if they can make more money? What is your risk vs their risk?

Frankly speaking, no one knows whats forthcoming especially 2 years ago. If given today, no such scheme would be given, they would rather take in the money themselves.

 

[Funniman]

Frankly speaking, no one knows whats forthcoming especially 2 years ago. If given today, no such scheme would be given, they would rather take in the money themselves.

The Ascott scheme guarantee you a yield irregardless of occupancy or subjected to market forces?

 

[Dfiris]

Thanks for your reply. ... same here, being looking at there since Sep last year before soft launch (got to know early from one of the agent b4 they launch )...decision btw SPH and horizon hill...though higher psf;,selected SPH as got rental guarantee and potential long term appreciation (more of speculative buy)...

Understand you are in kl Market also. .... would like to seek your opinion.... I'm actually vested in kl ampang area (condo in the midst of all the embassy) ....what do you think of the prospect of kl area (golden triangle) in the next 3yrs and ampang embassy area?

Frankly speaking, I am invested in KL more from a push factor rather than pull factor. I made my pile from Singapore market over the last 10 years (my investment horizon is always more than 7 years). But I realize that I can no longer find the kind of return I wanted for my property investments. The properties I sold off in Singapore to investors (based on the selling price they are only getting 2.5-3%). And I find that the upside is limited too and will be capped. So I sold off all my investments, am just left with my own shelter & business premises.

KL is chosen, mainly because of the many similarities in terms of the common law, ownership structures still ome of the best and most important of all I can build a freehold portfolio from scratch. Who cares about RGPT, if there is a profit to be made, it will not affect my return on investment by much. The tax of 26% on rental income for foreigners does not concern me, cos if I am local, my rental income would still fall under the same bracket. So not much tax savings if I become a PR.

What attracts me is the assessment tax as compared to our property tax in Singapore. their assesment value could be just a fraction about 20% of actual rental. And it is only reviewed every 5 years. And u know Malaysia, they are not as "on" as singapore in determining the annual value. so although both sides are 10%, it is effectively only 2% or less in Malaysia. I feel that Singapore will ultimately tweek the property tax for investors with subsequent multiple properties in higher tiers from 10-20%.

As for why KL market, frankly speaking I am no expert. But I feel it is not a very perfect market like Singapore, where price transparency n price information is easily disseminated. That means there are always pockets of opportunities. Most important is to mitigate your risks with a decent return. Only then would you be able to hold onto your investments for a long enough time to witness the stage of "feverish sentiment".

When "feverish sentiment" comes in, it really does not matter where u buy or what u own. As a chinese saying, water rise, all boats rise too, no matter big or small, yacht or sampan"

Most important thing is always your yield. Ten years ago, I also went into the Singapore property market on a cashflow yield approach, shophouses are giving me 7-8% return and residential 5-6% return. But now, no... its powered by a different set of factors... liquidity. So end of game for me, rental still same for my portfolio, but prices went up by 2-3 times, worse.. ( some properties lease are already 10 years shorter), so sell lor and change the game plan somewhere else.

So I do not want a place whereby capital appreciation is fast but a place that I can continue to build on my portfolio based on positive cashflows.

But for malaysia, please allow for 1% currency depre per year, cos it dropped about 10% against SGD over the last 10 years.

 

[Dfiris]

The Ascott scheme guarantee you a yield irregardless of occupancy or subjected to market forces?

profit share.... with a minimum 5% on purchase price "floor"

tat means downside is protected by 5% minimum

and upside is unlimited depending on occupancy and rack rates they can achieve.

Most importantly is investors can sleep well during the initial years when Puteri Harbour is still developing...
When 10 years is up, you can choose to continue with the lease renewal depending on the terms then or use it for self stay.

 

[Funniman]

There's so much to learn about property investments. The insights of a real far sighted investor.
Kudos.......professor...

Frankly speaking, I am invested in KL more from a push factor rather than pull factor. I made my pile from Singapore market over the last 10 years (my investment horizon is always more than 7 years). But I realize that I can no longer find the kind of return I wanted for my property investments. The properties I sold off in Singapore to investors (based on the selling price they are only getting 2.5-3%). And I find that the upside is limited too and will be capped. So I sold off all my investments, am just left with my own shelter & business premises.

KL is chosen, mainly because of the many similarities in terms of the common law, ownership structures still ome of the best and most important of all I can build a freehold portfolio from scratch. Who cares about RGPT, if there is a profit to be made, it will not affect my return on investment by much. The tax of 26% on rental income for foreigners does not concern me, cos if I am local, my rental income would still fall under the same bracket. So not much tax savings if I become a PR.

What attracts me is the assessment tax as compared to our property tax in Singapore. their assesment value could be just a fraction about 20% of actual rental. And it is only reviewed every 5 years. And u know Malaysia, they are not as "on" as singapore in determining the annual value. so although both sides are 10%, it is effectively only 2% or less in Malaysia. I feel that Singapore will ultimately tweek the property tax for investors with subsequent multiple properties in higher tiers from 10-20%.

As for why KL market, frankly speaking I am no expert. But I feel it is not a very perfect market like Singapore, where price transparency n price information is easily disseminated. That means there are always pockets of opportunities. Most important is to mitigate your risks with a decent return. Only then would you be able to hold onto your investments for a long enough time to witness the stage of "feverish sentiment".

When "feverish sentiment" comes in, it really does not matter where u buy or what u own. As a chinese saying, water rise, all boats rise too, no matter big or small, yacht or sampan"

Most important thing is always your yield. Ten years ago, I also went into the Singapore property market on a cashflow yield approach, shophouses are giving me 7-8% return and residential 5-6% return. But now, no... its powered by a different set of factors... liquidity. So end of game for me, rental still same for my portfolio, but prices went up by 2-3 times, worse.. ( some properties lease are already 10 years shorter), so sell lor and change the game plan somewhere else.

So I do not want a place whereby capital appreciation is fast but a place that I can continue to build on my portfolio based on positive cashflows.

But for malaysia, please allow for 1% currency depre per year, cos it dropped about 10% against SGD over the last 10 years.

 

[Funniman]

Okie ..that means you tie up your investments for 10 years and get minimum 5% yield in addition to the investment gain on capital appreciation after 10 years.
That's kool...I learned something new again...Thanks.

profit share.... with a minimum 5% on purchase price "floor"

tat means downside is protected by 5% minimum

and upside is unlimited depending on occupancy and rack rates they can achieve.

Most importantly is investors can sleep well during the initial years when Puteri Harbour is still developing...
When 10 years is up, you can choose to continue with the lease renewal depending on the terms then or use it for self stay.

 

[Valdez]

Another game changer for iskande

B]Peter Lim's RM10b project gets Iskandar nod
[/B]
VANTAGE Bay, an integrated development in Johor Baru that will cost RM10 billion (S$4 billion) in its entirety, has received the nod of approval from the Iskandar Regional Development Authority.

The project is a joint venture between the Johor royal family and Singaporean businessman Peter Lim, and centres on a medical hub to be operated by Thomson Medical Centre. Mr Lim, a 70 per cent stakeholder in the development, bought out the medical group in 2010.

Spanning 10 ha, the waterfront project is a gated city with its own medical campus, residential apartments, hotels, convention centres, shopping malls and commercial offices, and will be fully completed in 10 years.

Thomson Specialist Hospital, a 300-bed tertiary hospital within the medical hub, will be supported by Centres of Excellence (COE) focusing on fertility, diabetes, cardiology and oncology. It will also strike up a public-private partnership with a private wing where medical specialists from public hospitals can practise.

Chan Boon Kheng, group president of Thomson Medical, said that the medical facility is strategically located with its close proximity to the densely-populated JB Sentral, JB's Royal Customs, Immigration and Quarantine Complex and Singapore's Woodlands checkpoint.

"We also see the potential of patients in the region coming here regularly for treatments as there is immense value in doing so," he added.

He said that it has to apply to the relevant bodies to enable Singaporean patients to utilise their CPF balances when footing medical bills in the new hospital.

Besides healthcare facilities, the integrated complex caters to other needs as well. Vantage Bay offers over a million square feet in office space, and plans to entice firms with operations in Singapore to relocate to JB with lower rentals. It will also boast one of the largest shopping malls in JB with an area of a million square feet.

Ho Kiam Kheong, CEO of Best Blend, the joint venture vehicle, said that the development will create 10,000 jobs in Malaysia in the long run.

Work on the project will begin at the end of 2013. The hospital and residential apartments are due to be completed in 2016 under its first phase. The medical facility's COE, office spaces and retail malls will be built under the second phase.

 

[Valdez]

Nov 29, 2012 - PropertyGuru.com.my

By Farah Wahida:

The property market in Southern Johor will reap long-term benefits from the rapid development across Iskandar Malaysia, according to Tan Sri Liew Kee Sin, President and CEO of SP Setia Bhd.

For the property developer alone, Johor has contributed 25 percent to its RM4billion annual revenue, with projects in Iskandar generating over RM1.2 billion to date, reported The Star.

Johor’s property market has greatly benefited from Iskandar, with demand for up-market houses on the rise. SP Setia was fortunate that all its projects in Southern Johor are located within the flagship economic zone.

“We’ll continue looking for more land in south Johor but it is getting difficult now unlike when we first came here 15 years ago,” said Liew, during the opening of Galperti Manufacturing Malaysia Sdn Bhd’s RM100milliom plant at Setai Business Park in Johor Bahru developed by SP Setia.

Meanwhile, the remaining units at SP Setia’s Vogue Suites One in KL Eco City (KLEC) will likely be sold within less than two months, reported Bernama.

“The condominium block, which is the Vogue Suites One, is 90 percent sold, while the strata offices are fully sold. For the boutique offices, we have sold eight of the 12 lots. The total sales value to date is about RM2.5 billion with a higher purchase by locals when compared to foreigners,” said Liew.

He added that KLEC’s first phase is ongoing and its second phase will likely commence in late-2013.

 

[Dfiris]

There's so much to learn about property investments. The insights of a real far sighted investor.
Kudos.......professor...

Please don't say that.. I learned alot from you guys n gals too..

 

[flyer380]

Another game changer for iskande

B]Peter Lim's RM10b project gets Iskandar nod
[/B]
VANTAGE Bay, an integrated development in Johor Baru that will cost RM10 billion (S$4 billion) in its entirety, has received the nod of approval from the Iskandar Regional Development Authority.

The project is a joint venture between the Johor royal family and Singaporean businessman Peter Lim, and centres on a medical hub to be operated by Thomson Medical Centre. Mr Lim, a 70 per cent stakeholder in the development, bought out the medical group in 2010.

Spanning 10 ha, the waterfront project is a gated city with its own medical campus, residential apartments, hotels, convention centres, shopping malls and commercial offices, and will be fully completed in 10 years.

Thomson Specialist Hospital, a 300-bed tertiary hospital within the medical hub, will be supported by Centres of Excellence (COE) focusing on fertility, diabetes, cardiology and oncology. It will also strike up a public-private partnership with a private wing where medical specialists from public hospitals can practise.

Chan Boon Kheng, group president of Thomson Medical, said that the medical facility is strategically located with its close proximity to the densely-populated JB Sentral, JB's Royal Customs, Immigration and Quarantine Complex and Singapore's Woodlands checkpoint.

"We also see the potential of patients in the region coming here regularly for treatments as there is immense value in doing so," he added.

He said that it has to apply to the relevant bodies to enable Singaporean patients to utilise their CPF balances when footing medical bills in the new hospital.

Besides healthcare facilities, the integrated complex caters to other needs as well. Vantage Bay offers over a million square feet in office space, and plans to entice firms with operations in Singapore to relocate to JB with lower rentals. It will also boast one of the largest shopping malls in JB with an area of a million square feet.

Ho Kiam Kheong, CEO of Best Blend, the joint venture vehicle, said that the development will create 10,000 jobs in Malaysia in the long run.

Work on the project will begin at the end of 2013. The hospital and residential apartments are due to be completed in 2016 under its first phase. The medical facility's COE, office spaces and retail malls will be built under the second phase.

I think this would be good project to invest in provided the developer-royalty group launches the Phase 1 at super bargin value buy for Phase 1, then do a increase every year step by step like 550 (year 1) 600 (year 2) 650 (year 3) 700 750 800 850 900 950 1000 psf etc etc, every year increase and not be greedy and do a sudden RmXxxx psf as that way only enrich developer ...If this group is responsible, and understand long term sustainability and want to be even richer and earn more $$$ in long term, then there be many hundreds of people support their project, if not then 1st time little lambs buy at RmXxxx then get burn then end game liow...

 

[Valdez]

Heard launch price for this project above 1k psf around 1200 psf

 

[DCputeri]

Is the occupancy rate of your units and rack rates transparent to the owner of the unit?

profit share.... with a minimum 5% on purchase price "floor"

tat means downside is protected by 5% minimum

and upside is unlimited depending on occupancy and rack rates they can achieve.

Most importantly is investors can sleep well during the initial years when Puteri Harbour is still developing...
When 10 years is up, you can choose to continue with the lease renewal depending on the terms then or use it for self stay.

 

[dad4life]

teega specification is pretty good.. Thanks for sharing this, really good info!! Do u have the specification for the suites? Wonder if the carpark allocation and the finishing are the same. Btw, I haven't heard anything from UEM yet about the price if they alrd finalized or not, anyone hear abt it??

 

[dad4life]

Wow.. Another good investment in islands that will boost it's sustainabilty.. Especially with Singapore businessman involvement, pretty good chance to fly through.. Seems every month we get more and more investors coming to iskandar, this will really boost property price an sustain it in the long run.. Just hope the government and developer don't screw up this good momentum and deliver well this round!! Malaysia boleh...

 

[Dfiris]

Is the occupancy rate of your units and rack rates transparent to the owner of the unit?

Its Somerset, and we are using standard hotel contract.

By the way, we k sell anytime we like in the ten years. So if we manage to get a return of 8%, then we k sell off the units to would be investors at 5% return at RM1120psf.

 

[wolverine23]

Totally agree!!! In my humble opinion, sometimes we can make big profit from investments just by understanding some simple facts about human behavior.
One of the few reasons I invested in Nusajaya in 2010 is knowing the fact that greed-driven demand will come in 2012.
The quote below was what I shared about human greed versus fundamental(rental yield) in a discussion back in 'Living in JB 1'.



Here's the link to the full post http://www.sammyboy.com/showthread.php?35746-Living-in-JB&p=897131#post897131

Truely far-sighted. admire....