Hi. I'm not quite sure if you are buying to invest or retire. Or all you a salesman in disguise trying to promote both properties?
Anyway, if you are thinking of investing, then you come to the wrong forum. This is because the forumers who already bought will surely convince you that prices will continue to be dovish. You may have a few trolls here who will conversely tell you that Iskandar is doomed to fail. Like what I posted previously, buy into Iskandar with your eyes wide open, as this is unproven territory selling at a historically high price. Basically, hope to get capital appreciation but also be prepared to lose money. Such is the basic discipline of investing or some in this forum say "goreng-ing".
However, if you are really thinking of buying to retire, I think I can offer a more objective perspective.
Firstly, with a budget of RM1m, at RM1500psf, you can at most buy a 666sqft apartment. That's sized for a 1-bedroom apartment. Are you ready to retire in such a small apartment? Studios and 1-bedroom apartments are more suitable as bachelor pads or temporary accommodation. Also, if PH is proxy-ed to Marina Bay (that's quite far-fetched, but let's just imagine), will you be comfortable to live your old age in an area where basic needs are unreasonably expensive? Do you have a car? If not, are you willing to take a bus out to the city everytime (PH is not Singapore in which you have the MRT at your doorstep). And lastly, will you be comfortable jostling space with other average or above-average heeled owners or investors who think they are damn atas when they get their keys? Let's face it, most buyers in Iskandar aren't top brass society personnel or sophisticated property investors. (I may regret writing this but) put it bluntly, we invest in Iskandar because we cannot afford doing so in the other established, proven cities. You will likely encounter those mass-market condos syndrome where your neighbours think their Toyota Camry or BMW 320i is damn tua-pai, and the common facilities are utilised to the max.
Secondly, if you are buying into the hotel suite because the 5% GRR for 9 years attracts you, do note that that should already be priced in. And if you intend to take a loan, at 4.5% to 4.7%, coupled with potential further MYR depreciation, your GRR will essentially be wiped out.
Thirdly, if you are buying both properties with RM1m, that means your PC apartment cannot be bigger than 446sqft. This is effectively a studio, or a big hotel room at best. I can't imagine anyone spending their silver years in a shoebox apartment like this.
If you are seriously looking to retire in Iskandar, my advice is, if it's worth anything at all
Guess my options are clearer now. Condo it is for me. Thanks so much.
Hi Nextreal, appreciate the kind response. I was really looking to hear differing views on the hotel suite option. I was grappling hard with that over the last 24hrs, don't want to make a big bubu on my first purchase
If you are seriously looking to retire in Iskandar, my advice is, if it's worth anything at all
Sorry, I thought I have given a few examples.
Anyway, HK Disneyland, as you pointed out, is within 1hr train ride away from Hong Kong island. Paris Disneyland is also 1hr drive away, as is Liufu - 1hr from Taipei city. And on Gold Coast, the theme parks are... you guessed it, 1hr drive away from Brisbane city.
On Gold Coast. This "city" is largely driven by tourism; there's not much commerce as in a typical metropolitan city. It's debatable, but in my opinion, Gold Coast started flourishing only when the theme parks were born. Sea World came about in the 70s, while Movie World started in the 80s (could be the other way around); then, the closest real city - Brisbane, is 1hr drive away.
Is it a coincidence that Genting Highlands is roughly 1hr drive away from KL (ok, 40min if you drive toufu delivery style)? Despite being in such a dilapidated state, it is far more popular than the Lost World at Tambun. Admittedly, the casino there changed the denominator, but you get my point.
So, did IRDA thought of this and purposefully locate Legoland 1hr from JB?
Btw, there's no science behind what I stated here. These are just from my personal deduction, and I'm happy to be proven wrong.
Sorry, I thought I have given a few examples.
Anyway, HK Disneyland, as you pointed out, is within 1hr train ride away from Hong Kong island. Paris Disneyland is also 1hr drive away, as is Liufu - 1hr from Taipei city. And on Gold Coast, the theme parks are... you guessed it, 1hr drive away from Brisbane city.
On Gold Coast. This "city" is largely driven by tourism; there's not much commerce as in a typical metropolitan city. It's debatable, but in my opinion, Gold Coast started flourishing only when the theme parks were born. Sea World came about in the 70s, while Movie World started in the 80s (could be the other way around); then, the closest real city - Brisbane, is 1hr drive away.
Is it a coincidence that Genting Highlands is roughly 1hr drive away from KL (ok, 40min if you drive toufu delivery style)? Despite being in such a dilapidated state, it is far more popular than the Lost World at Tambun. Admittedly, the casino there changed the denominator, but you get my point.
So, did IRDA thought of this and purposefully locate Legoland 1hr from JB?
Btw, there's no science behind what I stated here. These are just from my personal deduction, and I'm happy to be proven wrong.
Asked, took 2 hrs to reach harbourfront with ferry.not forgetting the throngs of international tourists from Singapore who may pop over after visiting the casinos via ferry link to PH
It is something like if u want to buy IT stuff, go sim lim or lowyat; want to buy car go to street where there is cluster of dealers. Concentrate themeparkss in zone B will have powerful drawing effect to the region, make the pie bigger. Spreading out will only make the drawing effect weaker. Probably one cluster in zone B, another cluster in desaru area... nice
Asked, took 2 hrs to reach harbourfront with ferry.
It is something like if u want to buy IT stuff, go sim lim or lowyat; want to buy car go to street where there is cluster of dealers. Concentrate themeparkss in zone B will have powerful drawing effect to the region, make the pie bigger. Spreading out will only make the drawing effect weaker. Probably one cluster in zone B, another cluster in desaru area... nice
