Setia Alam: Medium Low Cost Akasia Apartment – Part 2

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

MBSB home loan package akasia apartment

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
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.

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