Setia Alam: Medium Low Cost Akasia Apartment – Part 2
14 September 2009 | Category: Property Investment
No money to invest property? Where to invest property with zero down payment? Akasia Apartment, the latest project at Setia Alam is now fully financed by MBSB.
It means 100% home loan. No down payment is required. Is it a good buy for investment? Below are some of my reviews on Akasia Apartment:
Case Study: Akasia Apartment, Precinct 6, Setia Alam
Higher Interest Rates of MBSB Home Loan – High Installment
MBSB Conventional Home Loan (Bank Panel)
- Loan Amount: RM103,200 (RM72,000 + RM31,200)
- Interest Rate: 6.05% (ECOF + 0.5%)*Assumes flat rate
- Loan Tenure: 30 years
- Monthly Installment: RM622
CIMB Bank Home Loan (Loan Amount below RM100k)
- Loan Amount: RM103,200 (RM72,000 + RM31,200)
- Interest Rate: 3.50% (BLR – 2.05%)
- Loan Tenure: 30 years
- Monthly Installment: RM463
If you are interested on home loan amount less than RM100,000, please visit www.money3.com.my for more comparison of home loans to get the best package.
Units Available at High Level 4 & 5 Only – Less Rental Income
For 5 storey walk-up apartment, there are usually different of 20% – 30% on rental rates for unit between level 5 (highest) and level 1 (lowest). Unit at lower floor always carry better rental fee. It is different story for those high-rise apartments or condominiums come with lift service; the unit at higher level with better view is more demandable but not really affects the rental fee much.
Difficulty of Financing for Sub-sales Buyer – Less Demand
Two S&P agreements are compulsory to be signed for unit and upgrade package. It is a bit tricky for me. Will sub-sales buyer able to secure a home loan for an ‘upgrade package’ from bank in future? Else, any buyer is willing to pay RM31,200 in cash for the ‘upgrade package’ and another 10% down payment for the apartment?
Will you invest in Akasia Apartment? Welcome for your sharing here.
Tags: 0% downpayment investment, akasia apartment, low cost apartment, medium cost apartment, property for sale at setia alam, setia alam latest project, setia alam malaysia, zero down payment investment
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