Attending sales talk and property investment courses are one of the best investment you could ever spend on yourself.
For example, one developer actually offered his unit for sale at 3 mil and gives a 15% rebate. That means if I get a 90% loan, I get 5% cash free and a unit under mortgage?
Is this too good to be true?
I did not bite. Subsequently, I understand that these are very common practise overseas that developer gives rebates and discount schemes. Even for subsales, private owners may offer you rebates. This really opened my eyes.
If you want to invest, you must work out the sums and study the market hard.
Friday 12 October 2012
Pattaya Property
Pattaya is a booming city in Thailand. It has one of the highest returning tourists in Thailand. Property prices mushroomed upwards since 2009. I bought a property in Angket Hip Residence.
Angket Hip Residence is located 700m from Jomtien Beach. This is one of the tallest building in that area - 23 storeys. Planning permission now restricts low properties to 8 stories in that area and that is why there are not many tall buildings near the beach front being built anymore. This building has been refurbished by Thai Bliss Assets and it has gauranteed investment returns and guaranteed buyback for investors. All in a 10% per annum return for 3 years.
At this time, new launches are above 45000 baht per metre square. This is insane pricing in pattaya. The price per sq ft works out to about USD $200 psf.
Angket Hip Residence is located 700m from Jomtien Beach. This is one of the tallest building in that area - 23 storeys. Planning permission now restricts low properties to 8 stories in that area and that is why there are not many tall buildings near the beach front being built anymore. This building has been refurbished by Thai Bliss Assets and it has gauranteed investment returns and guaranteed buyback for investors. All in a 10% per annum return for 3 years.
At this time, new launches are above 45000 baht per metre square. This is insane pricing in pattaya. The price per sq ft works out to about USD $200 psf.
My First Property
This blog is dedicated to my investment journey in property.
I started my property investment way back when I was a teenager. I did not buy but started to look for rental and properties for sale. HOME is a very important concept to me. I NEED my own space and I cannot depend on my parents. In Singapore, there is so much pressure to continuously work and work and work to pay off "living".
WORK TO LIVE becomes an accepted norm. I do not want to do so. I mean, I just need a roof over my head. BUT again, there are always constraints.
I work very hard through school and aced my exams. I finished school and came out to work. It was 2003 and there was a war going on. Singapore had a mini recession. Recession to me before was not so alarming but when I was about to graduate, I felt for the first time, hey! now this is bad! Do I want to work 3 days having 5 days of workload and getting half pay? I do not, cannot and will not.
Though I have been reading, attending investment talks and property sales talk, I could not afford my own place - that magical 20% downpayment til much later in life. I often theorise with my friend that it was a magical $20k missing that I could not afford the down payment. I thought I could work and save my way til I'm 35. That way, I could afford a HDB flat from the resale market. Year 2008 was a wakeup call. The financial meltdown turn everything upside down. The money I saved and invest in "safe" unit trust became halfed!!! This is also the time I started to seriously read Rich Dad, Poor Dad and make sense of their thoughts.
In 2010, I purchased my HDB unit before age of 35. I heaved a sigh of relief...
I started my property investment way back when I was a teenager. I did not buy but started to look for rental and properties for sale. HOME is a very important concept to me. I NEED my own space and I cannot depend on my parents. In Singapore, there is so much pressure to continuously work and work and work to pay off "living".
WORK TO LIVE becomes an accepted norm. I do not want to do so. I mean, I just need a roof over my head. BUT again, there are always constraints.
I work very hard through school and aced my exams. I finished school and came out to work. It was 2003 and there was a war going on. Singapore had a mini recession. Recession to me before was not so alarming but when I was about to graduate, I felt for the first time, hey! now this is bad! Do I want to work 3 days having 5 days of workload and getting half pay? I do not, cannot and will not.
Though I have been reading, attending investment talks and property sales talk, I could not afford my own place - that magical 20% downpayment til much later in life. I often theorise with my friend that it was a magical $20k missing that I could not afford the down payment. I thought I could work and save my way til I'm 35. That way, I could afford a HDB flat from the resale market. Year 2008 was a wakeup call. The financial meltdown turn everything upside down. The money I saved and invest in "safe" unit trust became halfed!!! This is also the time I started to seriously read Rich Dad, Poor Dad and make sense of their thoughts.
In 2010, I purchased my HDB unit before age of 35. I heaved a sigh of relief...
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