Kulai/Senai

[1nottiboy]

Actually it was my agent who told me that Singaporeans can get only 70% financing. (but looks like he is wrong.) So I did my math. 70% financing, 4.5% interest rate, progressive payment, and waiting for new area to build up, the risk was too much for me, so I turned to residential. One day if I were to look at commercial properpties, I would only consider completed ones. More expensive but at least I can see the surroundings.

Hi SS, it can be up to 85% so cash outlay isn't too different. Same tenure as well at least for the ones i bought. I seriously really wonder where did some of these folks get their sources from?

 

[sillysinky]

Hi SS, it can be up to 85% so cash outlay isn't too different. Same tenure as well at least for the ones i bought. I seriously really wonder where did some of these folks get their sources from?

thanks wuqi kor, i should have checked with the banker myself. did check once with a banker but she said she is handling residential and didnt know much about industrial loan, and that was it.

 

[wuqi256]

thanks wuqi kor, i should have checked with the banker myself. did check once with a banker but she said she is handling residential and didnt know much about industrial loan, and that was it.

Went through this myself so i know as i did get loan and my friends did as well at this quantum.

 

[wuqi256]

Actually it was my agent who told me that Singaporeans can get only 70% financing. (but looks like he is wrong.) So I did my math. 70% financing, 4.5% interest rate, progressive payment, and waiting for new area to build up, the risk was too much for me, so I turned to residential. One day if I were to look at commercial properpties, I would only consider completed ones. More expensive but at least I can see the surroundings.

Much of how much they decide to loan you depends on the financial back ground and estimated net worth of an individual. It was funny, just because i bought into certain properties in a development back then, to certain banks, i suddenly became a "worthy" individual, at least financially wise. Definitely, a bird in the hand is worth 2 in the bush holds true even for me. Very seldom buy properties that are still being built.

 

[wuqi256]

Wuqi,
Are you betting on the growth in industries due to improvement in regional air route links?

Also the ones below, back when i first approached a developer to buy and talked about the FTZ to my friends and the developer, there was a blank stare from even the developer. The 2nd person from the developer laughed in my face when i mentioned it. I just kept quiet since i wanted to negotiate the price down for my friends:

Four Integrated Logistic Centers (ILC) will be developed to compliment the ports
and FTZs in Iskandar Malaysia, they are Nusajaya ILC (2015), Kota Masai ILC
(2015), Seelong ILC(2025 and Ulu Tiram ILC(2025).


Free Trade Zones (FTZ) will be developed as part of the economic development
plan. Normal trade barriers such as tariffs and quotas are eliminated
and bureaucratic requirements are lowered in hopes of attracting foreign
investments.

3 new FTZ namely Nusajaya FTZ(2015), Seelong FTZ(2025), and Ulu
Tiram FTZ (2025) will be developed in line with Iskandar Malaysia’s goal to
contribute to the country’s economy.



http://www.iskandarmalaysia.com.my/pdf/blueprint/Transportation-Blueprint.pdf

 

[wuqi256]

Actually it was my agent who told me that Singaporeans can get only 70% financing. (but looks like he is wrong.) So I did my math. 70% financing, 4.5% interest rate, progressive payment, and waiting for new area to build up, the risk was too much for me, so I turned to residential. One day if I were to look at commercial properpties, I would only consider completed ones. More expensive but at least I can see the surroundings.

Every other day, i hear something different and mostly wrong information, sometimes even the folks who are supposed to know are not aware. I cannot blame them as they do not have the "foreigners perspective" that some of us gained by going through different obstacles. It feels like SOC sometimes but getting there.

Many are not even aware of the levy, or ways to speed up approval, process or even the difference between stamp duty between developer or that of the banks etc.

 

[sillysinky]

Every other day, i hear something different and mostly wrong information, sometimes even the folks who are supposed to know are not aware. I cannot blame them as they do not have the "foreigners perspective" that some of us gained by going through different obstacles. It feels like SOC sometimes but getting there.

Many are not even aware of the levy, or ways to speed up approval, process or even the difference between stamp duty between developer or that of the banks etc.

lessons learned many times - do not trust the banker, especially the young ones, as they tend to simply quote, even if they do not know, for fear of being called ignorant. Best to learn from this forum from the experienced people.

 

[sillysinky]

Went through this myself so i know as i did get loan and my friends did as well at this quantum.

thanks for clarity. still not too late for me to look at industrial properties, if its within my reach, as the wave has just begun

 

[wuqi256]

thanks for clarity. still not too late for me to look at industrial properties, if its within my reach, as the wave has just begun

Still not too late.