Properties in Malaysia

Another article featuring the launch of Crest where it is encouraged by this website to invest in the Crest at its strategic vibrant location in Kuala Lumpur. These two articles (including the one posted previously) have given us the better insight of the property Crest that will be completed in 2010. Have a look at what Property Frontiers say about the Crest Kuala Lumpur:

Overview

• Sought after location within KL’s Golden Triangle
• Luxurious amenities aimed at the life-style orientated young professional with apartments ranging from 1 bedroom apartments to 5 bedroom penthouses
• Forecasted rental yields of at least 10%
• 70% LTV mortgages available, allowing cash investments from £25k plus purchase costs
• A secure development, backed by Bank Rakyat Malaysia Berhad, one of Malaysia’s oldest banks.
• Annualised Return on Cash Invested of 72%
• Kuala Lumpur is the main city set to benefit from Malaysia’s booming economy
• Facilities for businessmen and tourists alike, with an abundance of shopping malls, green parks and high quality hotels
• Urbanisation rates are very high, with the urban community set to increase by 4.5m over next 15 years
• GDP growth in 2006 was 5.8%
• Young population with over half the Malaysian population under 27
• Affordability is at a ten-year high in Malaysia, only 18% of monthly income now required to service a mortgage
• Capital Gains Tax was abolished (from 30% down to 0%) in April 2007

Description

With a population of 24m (half of which are under 27 yrs of age), urbanisation occurring at an alarming rate of 10% per annum and supply estimated at 44% of current demand, the Malaysian property market is an exciting place to be right now. Add to this a ten-year high for affordability, low interest rates, mortgage lenders providing longer repayment periods and with wages increasing, indicators for profitable investment abound. Economically Malaysia is robust, with unemployment now below 4% due to the surging high-tech sector feeding the fast growing consumer hunger of neighbouring China. GDP has been over 5.5% for the past 3 years and as a result consumer confidence has been sustained near 10%. Recently, Capital Gains Tax has been abolished in Malaysia, down from 30%, further bolstering the attractiveness of the market for local as well as foreign investors.

Location

The central district for business and pleasure, KLCC as it is commonly known is the traditional centre for multi-national business and tourism, and with the majority of 5 and 6-star hotels in the area, this downtown spot offers everything for businessmen and tourists alike. With bountiful restaurants, shopping malls, and beautiful green parks, KLCC is the jewel of Kuala Lumpur. With the booming Malaysian economy and rapidly urbanising population, city centre demand is high and yields and appreciation are set to follow. KL itself is in a prime location for this growth, situated within 5 hours of 60% of the world’s population and being home to the world’s longest fully automated light rail transit system.

The Properties

Situated in the sought after location of Jalan Sultan Ismail, the Crest development is designed to attract the ever increasing young professional market in Kuala Lumpur City Centre. Crest is within a short walking distance of the light rail and monorail systems and centrally located for all of the shopping and entertainment facilities the city has to offer, including the famous Bintang Walk. With luxurious amenities befitting the prestigious address, The Crest gives investors an investment that will be desirable to all locals and visitors. Mortgages are available (70%<85%)>

Amenities

• Swimming Pool
• Gym & Sauna
• Cafés and Restaurants
• Parking
• Children’s Playground
• Nursery
• Landscaped Gardens

Payment Schedule

1-bed apartments (616 sqft) from MYR 588,280 (~£85,000)
2-bed apartments (835 sqft) from MYR 722,375 (~£111,000)
3-bed apartments (616 sqft) from MYR 1,121,718 (~£162,000)

• Reservation deposit of 2% of the total purchase price
• 18% upon signing the SPA within 40 days of signing the reservation agreement
• 10% once SPA is signed and returned
• Many small scheduled payments until completion in 2010