So far there has been a few viewings from some very interested buyers (and some not serious ones...). The highest offer I got is RM300,000. If you are willing to offer slightly higher, I will sell it to you.
I think it is a great property. It is tenanted for RM1800/month on 2 years contract expiring 31st December 2012. Upon transfer, I will pay you the rent deposit, which is RM4500 and you will be collecting rent monthly - with positive cash flow after costs.
At the end of this tenancy, you can easily raise the rent to RM2000/month because:
1. of high demand for studios/1br units for rent RM2000/month or below
2. limited number of studios/1br units in city center within RM2000/month price range
3. all new developments in city center cost their studios/1br units RM500k and up (meaning they have to rent above RM3000/month)
5 comments:
Hi Sin Leong
Your article and theory on property speculation is indeed interesting. I have often wondered how on earth the average Malaysian can afford the prices that are being advertised. Are the high prices due to the gov. raising the minimum of 500k for the MM2H programme, or just real estates agents trying to "maintain" prices. I have yet to hear of expats rushing to settle here.
One cannot deny that Malaysia has a big "grey" market which is mainly cash that the Inland Revenue would love more information on.
Maybe a Buyer and Seller aritcle may shed some light on current prices.
Thanks
SL,
How big is your unit? Any reno?
Is the unit sold? I am interested....
Btw, I just found your blogs and found your writings very informative and interesting.
Thanks
Pls contact me at chinhooi8@gmail.com
Pat
Regret to inform u it has been sold. Anyway, thanks for dropping by and do let us know where you end up buying
Hi Sinleong,
I am looking to buy a Mutiara Villa for investment/rental purpose. I am targeting studio/1 room, asking price is around 300k-330k in iproperty and the rental is 2k+. My question s, isn't still workable as the condo is actually quite OLD? Thanks for your advice
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