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
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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