Malaysia - Prices from MYR 571,815
An opportunity to acquire a property on a superb luxury iconic development set on the Sepang Gold Coast. Known as the third palm of the world, the first palm outside of Dubai, this is a turnkey investment managed by one of the worlds premier hotel companies and is set within close proximity to the Sepang Formula One racing circuit, 40 minutes from the Kuala Lumpur International Airport and 75 minutes from Kuala Lumpur city centre.
Malaysia has seen a reported 15% rise in property prices in the last year, This project has sustained around approximately a 20% rise. This is not unusual and parallels can be drawn from the other palms in the world. In Dubai the properties on the "Palms" have exceeded the general growth rate seen by property in that country.
Within the 15 year leaseback scheme the investor receives a fully furnished unit with a rental guarantee of 8% for the first two years, followed by an ongoing split of the room income.
There are no maintenance fees or refurbishment costs during the rental guarantee period. Owners also have the benefit of 14 nights personal use per annum whilst in the leaseback option. These units are sold leasehold with a 99 year lease.
Investment Returns
Owners can be reassured that their property is being managed by a premier hotel operator Swiss Bel Hotels with an excellent network of hotels and resorts in the surrounding area. These tables (see link below) have been prepared using the occupancy figures predicted by the hotel operator Swiss Bel Hotels. The opening predicted room rate is in excess of the amount used in this example. The example has assumed a price increase of 2% per annum which at the end of the 5 year period is still less than the predicted opening rate of 1047 MYR for a canary and 855 MYR or a traveller. These figures may well be exceeded given the tourism arrivals figures quoted in this brochure which do not take into account the domestic market.
Banks Mortgage Offered
The Bank of Nova Scotia
- Maximum 70% margin of finance
- Interest at Base Lending Rate + 0.75% to 1.00% (depends on qualification, current BLR is 6.75%)
- With lock in period of 5 years.
Documents required by the Bank on loan application are as below:-
For all applicants
a) Photocopy for passport
b) 2nd identification such as valid driving license
c) Referral letter from any existing bank (the referral letter only need to assess the length you have had the account with your existing bank)
d) Application Forms (attached with soft copies via email)
For applicants who are Employed
e) Latest 3 months’ pay slips
f) Latest 6 months bank statements (salary must be credited into the account)
g) Letter of employment / work permit (stating the duration of employment and current position)
h) Credit Bureau report
OR
For applicants who are Self Employed
i) Personal Bank Statements – latest 6 months
j) Certificate of Registration / Incorporation
k) List of shareholders, director and details of paid up capital and Memorandum & Articles of Association
l) Company bank account statement – last 6 months
m) Audited Financial Statements – latest 2 years
n) Credit Bureau Report
* Please take note Loan Legal Fees is required to pay separately, Loan Legal Fees will be calculated based on loan amount approved.
Prices:
Traveller Apartment Lower MYR 571,815
Traveller Apartment Upper MYR 604,260
Canary Detached Villa MYR 977,100
Ivory Detached Villa MYR 1,435,450
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