Puteri Harbour Community

[cybermad]

Just to clarify only, I will not try to post anything out of PH matters but FYI, many international Hotel Chains are management contracts, kind of like a tenant in a retail mall, they can relocate if things do not pan out to be, they can assign or sell the lease to next operator lock-stock and barrel including the renovations and furnishings, so their exit costs are low, same like me, going in to Iskandar / PH as a tenant only. So you cannot just ride on their coat tails blindly. Also please do not take things at face value, you do not know how much money is being greased to the decision maker of the hotel chain by the developer to setup shop there........this is Malaysia.

"In Asia, many hotels operate under management contract arrangements, as they can more easily obtain economies of scale, a global reservation systems, brand recognition etc. It is not unusual for contracts to be signed for 30 years, and having a fee as high as 3.5% of total revenues and 6-10% of gross operating profit. Management contracts have been used to a wide extent in the airline industry, and when foreign government action restricts other entry methods. Management contracts are often formed where there is a lack of local skills to run a project. It is an alternative to foreign direct investment as it does not involve as high risk and can yield higher returns for the company. The first recorded management contract was initiated by Qantas and Duncan Upton in 1978.[1][not in citation given]"

Notice the point, they do this to avoid higher risks.

Maybe you can enlighten us why of all places these international hotels all choose PH ? Just becos their exit costs are low ( to be confirmed whether true ) ?

 

[xebay11]

Maybe you can enlighten us why of all places these international hotels all choose PH ? Just becos their exit costs are low ( to be confirmed whether true ) ?

Like I said, they may have done very detailed studies and see the potential of the place or the senior decision maker may have had his palms greased by the developers and make their decision. No one really knows.

 

[Stimpy]

It is a good project, it is priced well for this market, it is free hold property, on a marina, with ocean views, next to a major city, in a country ranked at the 4th best place for retirement in the world, and the top in Asia by an American group. Where is the world can you find all of these positive aspects? I lived in and chased the waterfront property market in Vancouver for years and it was always out of reach, when PH was being marketed I jumped. Throw in the benefits of MM2H and it even sweetens the deal. If you are in for living, or weekend home, or hold for retirement I think it is a rare find. I have bought in Teega or I would be in Southern Marina. People can say what they like, but waterfront living in an international enclave with 2 marinas international restaurants and hotels is a good investment for life and lifestyle.

Thanks for your thoughts btravelling! The only wrinkle for me seems to be that the definition of 'freehold' seems...malleable (i.e. you may be forced to re-sell leasehold to foreigners, or freehold only to Malaysians).

Nothing seems set in stone there, but it did seem alarming news that this was being reviewed a while back. I really like PH for drinks and relaxing, it's an extremely pleasant area to hang out in on a Saturday. If the ferry links improved (or even the road customs areas were better staffed), I would seriously consider moving across full-time.

I guess for me it doesn't really matter what happens now, next year or any time up until 2023. I hope by then that Medini manages to capture some serious commercial activity to provide a good rental pool.

 

[cybermad]

Like I said, they may have done very detailed studies and see the potential of the place or the senior decision maker may have had his palms greased by the developers and make their decision. No one really knows.

More likely they have done their homework . It is not easy to grease not one but many palms in different companies each with their own internal controls. The existence of a functional CIQ and being the nearest point to SG do support their optimism.

 

[xebay11]

More likely they have done their homework . It is not easy to grease not one but many palms in different companies each with their own internal controls. The existence of a functional CIQ and being the nearest point to SG do support their optimism.

Hope you are right but don't take it for granted.

 

[cybermad]

Hope you are right but don't take it for granted.

I believe strongly that I am right.

 

[xebay11]

I believe strongly that I am right.

If you are right, then it is a lesson for me as I am going to take notes on why it is right.

 

[cybermad]

If you are right, then it is a lesson for me as I am going to take notes on why it is right.

Fair statement !

 

[OzRick]

No, let me illustrate my scenarios, assume if you have a spare $2.6m cash like I do, as I am planning to sell one of my fully paid landed properties in SG, I intend to buy another FH landed Australian property for $1m for my daughter to stay and so still have $1.6m, I will use the $1.6 m and buy another two $800k FH MM apts in town for rental purposes and get about $5k rental income pm at $2.5k each and spend about $800 to rent a JB condo, my net yield in this scenario is $5k less $800 = $4.2k,

Scenario 2, Out of $1.6m I can put aside $400k to buy a JB property and the remaining $1.2m I can only now buy one SG property, a two bedroom FH small condo. If I do that, I can only get about $3k to $3.5k rental income yield from the two bedder, as the JB property is for self stay. So do you see the yield difference?

Scenario one is safer and covered by PAP guaranteed appreciation / rental, as they want for 6.9 to 10m population fueled by foreigners vs JB unknown local population growth and very protectionist job market restricting foreigners, and also in SG I get more rental income $4.2k vs $3 to $3.5k, which would scenario would you do? Do not always just think about paying landlord's mortgage, as I thought of this scenario to eliminate this thinking.

Free discussion, pls ignore if anyone thinks this post is self serving and/or childish.

Perhaps, have a look at a 3rd scenario as follows:

Buy another FH landed Australian property for $1m for your daughter to stay, but pay half of it in cash and the reminder as mortgage for your daughter to pay up. This will inculcate the value of money to her, rather than spoon fed it to her.

The balance $400k is enough to buy a JB property for your own stay. If you are renting long-term, it will be more beneficial to buy your own place that rent. Unless you enjoy the hassles of moving around every few years, like when the landlord wants to sell the place and if you like to live in a property renovated to your taste. The remaining $100K can buy you a good Malaysian car and takes a few holidays in the region.

Instead of buying two $800k FH MM apts in Singapore for rental purposes, your return will be better buying one $1.6M good sized apts. Moreover, ROI in Singapore properties are much better than Malaysia properties due to high population growth in Singapore.

By the way, I am an Australian retired in Malaysia for a year now and is presently renting in Horizon Hills. Though my rental from my Australian residence is more than enough to pay my Malaysian house rental plus utilities, food and petrol, I still choose to buy my own condo unit in Nusajaya due to the reasons above.

The above is just my advice and personal view.

 

[btravelling]

Thanks for your thoughts btravelling! The only wrinkle for me seems to be that the definition of 'freehold' seems...malleable (i.e. you may be forced to re-sell leasehold to foreigners, or freehold only to Malaysians).

Nothing seems set in stone there, but it did seem alarming news that this was being reviewed a while back. I really like PH for drinks and relaxing, it's an extremely pleasant area to hang out in on a Saturday. If the ferry links improved (or even the road customs areas were better staffed), I would seriously consider moving across full-time.

I guess for me it doesn't really matter what happens now, next year or any time up until 2023. I hope by then that Medini manages to capture some serious commercial activity to provide a good rental pool.

I understand the worry about freehold and new laws dictating who you can sell to, countries like Australia have implemented tougher measures and even Singapore with its cooling measures ended up destroying Sentosa's high end market, not the 4% drop the rest of the Island is experiencing but massive loses on Sentosa, which I equate to PHl, so gov can make mistakes, and reverse them too if they want. http://www.nytimes.com/2015/02/18/realestate/a-high-end-property-collapse-in-singapore.html?_r=0
However we have to believe the large investment in Iskandar by the Gov since 2006 is to attract Foreigners (money).
Most of the people in JB city we know care little about Nusajya and who buys/lives there, they don't believe we are taking their property and leaving them with nothing. So why would the Gov ruin all its work to attract investors and loose billions of its own investments by discouraging foreigners with oppressive laws? Yes anything can happen, but I do not think they will revoke freehold to Foreigners.

 

[xebay11]

Perhaps, have a look at a 3rd scenario as follows:

Buy another FH landed Australian property for $1m for your daughter to stay, but pay half of it in cash and the reminder as mortgage for your daughter to pay up. This will inculcate the value of money to her, rather than spoon fed it to her.

The balance $400k is enough to buy a JB property for your own stay. If you are renting long-term, it will be more beneficial to buy your own place that rent. Unless you enjoy the hassles of moving around every few years, like when the landlord wants to sell the place and if you like to live in a property renovated to your taste. The remaining $100K can buy you a good Malaysian car and takes a few holidays in the region.

Instead of buying two $800k FH MM apts in Singapore for rental purposes, your return will be better buying one $1.6M good sized apts. Moreover, ROI in Singapore properties are much better than Malaysia properties due to high population growth in Singapore.

By the way, I am an Australian retired in Malaysia for a year now and is presently renting in Horizon Hills. Though my rental from my Australian residence is more than enough to pay my Malaysian house rental plus utilities, food and petrol, I still choose to buy my own condo unit in Nusajaya due to the reasons above.

The above is just my advice and personal view.

Good contribution and suggestion, I may consider that too, but I will be putting the burden on my daughter so that I can buy in Malaysia, but point very well taken and that's why I am in such forums, thanks.

Hope you are enjoying Malaysia, the dollar really stretches here lol!

 

[matix]

Hi btravelling & teega buyers. U can see the seaview/private marina from facebook - teega puteri harbour. Mr Mohd Redzuan took the pic towards the sea .

Wow! Awesome view. Too bad my unit is facing the linear park. Consolation is that the linear park is much bigger than I thought it would be. Certainly not HDB sized park.

 

[Tekkun]

This sums up what PH is all about.

 

[Frodo]

No, let me illustrate my scenarios, assume if you have a spare $2.6m cash like I do, as I am planning to sell one of my fully paid landed properties in SG, I intend to buy another FH landed Australian property for $1m for my daughter to stay and so still have $1.6m, I will use the $1.6 m and buy another two $800k FH MM apts in town for rental purposes and get about $5k rental income pm at $2.5k each and spend about $800 to rent a JB condo, my net yield in this scenario is $5k less $800 = $4.2k,

Scenario 2, Out of $1.6m I can put aside $400k to buy a JB property and the remaining $1.2m I can only now buy one SG property, a two bedroom FH small condo. If I do that, I can only get about $3k to $3.5k rental income yield from the two bedder, as the JB property is for self stay. So do you see the yield difference?

Scenario one is safer and covered by PAP guaranteed appreciation / rental, as they want for 6.9 to 10m population fueled by foreigners vs JB unknown local population growth and very protectionist job market restricting foreigners, and also in SG I get more rental income $4.2k vs $3 to $3.5k, which would scenario would you do? Do not always just think about paying landlord's mortgage, as I thought of this scenario to eliminate this thinking.

Free discussion, pls ignore if anyone thinks this post is self serving and/or childish.

Wow...envy sia...if only I can say I have spare cash of $2.6m.....:p

 

[xebay11]

Wow...envy sia...if only I can say I have spare cash of $2.6m.....:p

Because I invested in Singapore LOL, bought the property for $1m in 1993, actually considered poor appreciation liao.

 

[menghuii]

This sums up what PH is all about.

View attachment 24323

by now shld be seeing encorp rising above jens hotel right? what happened?

 

[Tekkun]

by now shld be seeing encorp rising above jens hotel right? what happened?

I think it should be 13 or 14th floor.

 

[Merlion]

Saw construction still on going at encorp but at a slow pace.

 

[menghuii]

anyone interested in ph southern marina can listen to a talk by ryan khoo from alpha marketing tomorrow.

Southern Marina Residences – Puteri Harbour Preview Event
DATE: 17th October 2015 (Saturday)

LOCATION: Puteri Harbour, Johor Bahru



Ryan Khoo will be speaking at the Southern Marina Sales Gallery in Puteri Harbour, Johor Bahru on 17th October 2015 (Saturday).

“High Speed Rail and the Nusajaya Economy”

Date: 17th October 2015 (Saturday)

Time: 2.30pm – 3.30pm

Location at Southern Marina Sales Gallery in Puteri Harbour. Next to the International Ferry Terminal.

Parking available on site at the sales gallery.

http://alphamarketingsg.com/event/southern-marina-residences-puteri-harbour-preview-event/

 

[Tekkun]

anyone interested in ph southern marina can listen to a talk by ryan khoo from alpha marketing tomorrow.

Southern Marina Residences – Puteri Harbour Preview Event
DATE: 17th October 2015 (Saturday)

LOCATION: Puteri Harbour, Johor Bahru



Ryan Khoo will be speaking at the Southern Marina Sales Gallery in Puteri Harbour, Johor Bahru on 17th October 2015 (Saturday).

“High Speed Rail and the Nusajaya Economy”

Date: 17th October 2015 (Saturday)

Time: 2.30pm – 3.30pm

Location at Southern Marina Sales Gallery in Puteri Harbour. Next to the International Ferry Terminal.

Parking available on site at the sales gallery.

http://alphamarketingsg.com/event/southern-marina-residences-puteri-harbour-preview-event/

If you are there, take some pics of Encorp pls.