Service condo with Hotel concept?

In 2017, the housing market is expected to continue slow growth, due to concerns about the slowing economy and the ringgit's weak performance, among others. To fight with this phenomena, property developer has been trying their best to introduce better and more creative way to attract buyers and investors. Following is currently a new trend in the property market in Malaysia. Service Condo with Hotel Management system.

First ever in Jelutong, Penang. Price from RM3xxK onwards with 6 stars facilities.

The developer [Aspen Vintage] introduced a new concept for investors/buyers for this project with the theme of "luxurious hotel" , there will be a lobby on the ground floor and it is able to help owners to manage their house for Airbnb purposes (including cleaning, micro-managing the tenants and stuff , with some charging fee of course. But you can still choose to do it yourself. )

Its like you own a hotel room in one big hotel and you get paid every time someone chose to stay in it. Price is per day basis of course. Can you rent out your property as efficient as a hotel rent out its room? Give them a petty charging fee and you will be worry-free about looking for renters.

More benefits of the hotel management styled condo I mentioned?

Future LRT station is within walking distance , great news for tourist looking for homestay location.
Not to mention the Jelutong wet market nearby that would be a heaven for the tourists (homestay people like to cook their own foods)

More attraction points!
- 10% rebate for the total unit price ( which saves you ~40k if you opt for a 400k unit!)
- 6% GST absorbed by the developer = another saving of ~12k
- Free legal fee on loans,stamp duty and SPA signing except MoT = another saving of ~ 5k
- Legal for airbnb/homestay business , which means no saman! Weeeee!

More information in [ Urban Suites ]

W.

Each Challenge Lies Opportunities

Even the 90s have seen the hard effect of economy slowdown in this few years where many struggles to meet their ends. This is clearly proven when people start to work for more than one job (or joining lots of money game) just to squeeze more juice out of their nuts.

Young Malaysian that starts to get out of their comfort zone and work will begin to hunt for suitable property as their first home. There are always queries by property buyers of when will be the best time to purchase a property. We always try to haul things best when it is in a big discount. What if I tell you that the property market is cheap now?

For some people out there that is worried about the possible economy meltdown in the next GE election or due to Trump's administration, you could be correct, but even catastrophe happens, everyone still need foods and shelters right? The temporary downturn will be reversed as the economy cycle is always on the run.  Truth is, even you kept the money instead of investing in property, just in case of economy breakdown, the currency will most probably crash as well, causing your RM 100 to be worth like RM10 in that situation ( which explains inflation as well.)

It could be quite risky if you might not be able to pay the mortgage on time, but have you ever thought that if the economy is stable and you got your 9-5 job working out smoothly for 10 years, will the property price be the same as now? Will your salary increase be able to cover the price hike? Will population of the world increase? Does it affect the price change of the property markets?
Remember, taking no risk at all is the highest risk.

Properties are a double-edged sword where it can cut and harm you, but it can also make you wealthy effortlessly. There are people who took the opportunities and bought certain stocks or properties in Penang Island and just live their life quietly as usual, until 10 years later they become millionaires out of the air. (as seen by some people)

"Knowledge is power and if we mastered such intelligence, anytime is a good time to purchase properties. Property investment is a long-term game, and investing into long-term markets will guarantee you great returns."
- Dato’ Sri Gavin Tee, the founder and president of SwhengTee International Real Estate Investors Club and the director of AGV Consulting Sdn.Bhd

Study, Learn and start Investing!

W.

Property prices might reached the bottom.

"Continuing to help Malaysians make more informed property decisions, PropertyGuru, the leading online property portal, launched its proprietary ‘PropertyGuru Market Index’ (PMI) exclusively for Malaysia today. PMI is a comprehensive, insightful quarterly overview of home pricing trends at a nationwide level, as well as the key property markets of Kuala Lumpur, Selangor, Johor and Penang." 

Starting from June, they launched this PMI system to allow us commoners to check the median prices and compare whether we are buying expensive property or not easily. As PropertyGuru can be considered as one of the largest real estate market in Malaysia, it is able to collect and analyse loads of information provided by buyers and sellers.
The surveys and reports done by them are much more trustable and they are able to deliver min-depth insights to all Malaysian home seekers.


The index serves as a great knowledge asset and trend indicator to all consumers helping them make informed property decisions. PMI is available to the public at:
http://www.propertyguru.com.my/marketindex

Judging by the figure shown above, property market prices has been declining since years ago until 2017 which seem that it comes to a steady state. This would be one of the sign that the price has already reached the bottom and could start increasing anytime soon. 

Also from the news at PropertyGuru, Kuala Lumpur, Selangor and Johor registered upward price movements with increases of 0.3 percent, 0.3 percent and 3.4 percent respectively. As for Penang,it’s index showed a decline in property prices by 0.7 percent– largely attributed to a reduction in prices and a tapered supply.

Just to be sincere, we shouldn't try to time the market for the best time to buy in. Fork out a sum of money and start paying the mortgage for a house. Believe me, with the exponentially-increasing world population, the property prices are going up by hook or by crook. Sooner or later Penang will be following the steps of Hong Kong where their land can be pricier than the golds. At the end of your mortgage years later, you will be thanking yourself for making this decision earlier. 

If you're looking for a property in Penang, might as well check out the new condo projects that are having a promotion right now!
[Urban Suites] and [Golden Triangle 2]

W.

Urban Suites - Jelutong, Penang

[ Urban Suites 21/5/2017]

Looking great from the location and also, the price!

[Property agent's Perspective]
This is a new project in Jelutong area near to the Lim Chong Eu highway. It is commercial-titled and also free hold building that is estimated to complete ~ 2021year.
A prime location near to Karpal Singh Drive and the future-LRT-station is within walking distance.
Over 40+ six star facilities like futsal court, cinema and gym.

3 types of sizes are available : 630 , 753 and 836 sqft from RM3xxK onwards

Low registration fee of RM3,000 only and 10% rebate to the unit price according to building stages.

As for GST (since it is commercial titled), developer will fully absorb the GST if you bought a unit of 753 or 836 sqft. If you opt for the 630sqft unit, developer will still absorb 3% of the GST for you , which mean u will need to pay the other 3%.

High return of investment in a shorter timespan compared to other projects!
Definitely worth if you are a investor for homestay/airbnb business!

[Investor's Perspective] 
The developer [Aspen Vintage] introduced a new concept for investors/buyers for this project with the theme of "luxurious hotel" , there will be a lobby on the ground floor and it is able to help owners to manage their house for Airbnb purposes (including cleaning, micro-managing the tenants and stuff , with some charging fee of course. But you can still choose to do it yourself. )

Future LRT station is within walking distance , great news for tourist looking for homestay location.
Not to mention the Jelutong wet market nearby that would be a heaven for the tourists (homestay people like to cook their own foods)

Just calculate the ROI (Return of investment) roughly in simple way from doing AirBnb
1) Assuming your purchase price is 400k and got a 85% loan which makes your loan amount to be 340k , according to the installment amount of interest rate of 4.6% divided to 30years installment, it would requires you to pay a monthly installment of ~RM1700

2) Assuming rental is RM200 per night with 10days rented out of a month = RM 2000 / month

Tadaaa , positive cash flow!

10days out of a month is not a hard thing for city of tourist isn't it? *Lets be positive here

Did I calculate in the potential capital gain from the increase in housing price over the years?
The high-rise building in Karpal Singh Drive was sold for 3xxK at first , now its priced around 7xxK!

More attraction points!
- 10% rebate for the total unit price ( which saves you ~40k if you opt for a 400k unit!)
- 6% GST absorbed by the developer = another saving of ~12k
- Free legal fee on loans,stamp duty and SPA signing except MoT = another saving of ~ 5k
- Legal for airbnb/homestay business , which means no saman! Weeeee!

Some non-attraction points *I have to be fair on both perspective shouldn't I?
-The carpark are not included in the price. Extra RM39888 for one carpark and RM59888 for two. You can choose to not buy any. (if you're on homestay business, tourists would love to use uber and future LRT station anyway!)
- It is commercial titled so its slightly more pricey on the water/electricity bills


Last but not least, do leave your comment or send me your details ( name, phone number) if you are interested to get to know more about it! I am both a real estate agent and investor as well *winks

If you want to be anonymous, just use the google form  here !


Kindly remind me if there are any mistakes or copyright infringement. Thank you.
*Photos obtained from Urban Suites Brochures.

W.