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Berjaya Times Square Service Suites
No. 1 Jalan Imbi, 55100 Kuala Lumpur, Malaysia

 

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More Choices Preface Location Layout Prices Faq
Preface
1.  Am I buying from developers? 2.  Can you help us to let it?
3. What other charges will I need to pay if I buy a unit? 4. What is the management policy on rate escalation in maintenance charges?
5. Is the property freehold or lease hold? 6. When was this building completed?
7. Who usually rent these apartments? 8. Is this an attractive buy?
9. I am a foreigner, can I purchase? 10. I am a foreigner, can I get bank loan financing?
11. How is the buying process?  

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1.  Am I buying from developers?

Answer: No, you are buying re-sale units that were owned by individual.

 2.  Can you help us to let it?

Answer: Yes, we can provided you pay us an agency fee as follows: 

 Period of Tenancy               Commission

1 year rental                        = 1 month rental

year rental                       = month rental

3 months rental                   = month rental

1 month rental                     = 15% of the rental 

3. What other charges will I need to pay if I buy a unit?

Answer:

 (i)          Lawyer fees         : Sale & Purchase Agreement and Stamping Fee

 (ii)         Stamp Duty          : Stamp Duty levied on Deed of Assignment/Ownership transfer document                  

(iv)         Maintenance fee :      Service Charge RM0.30 per sq feet (psf) per month

                                             Sinking Fund RM0.20 psf per month

 (v)          City Hall Assessment: Approx RM1200.00 per annum

 (vi)         Quit Rent: RM16.27- RM32.17

 4. What is the management policy on rate escalation in maintenance charges?

Answer: We do not foresee any significance increase during the next 3-5 years.

 5. Is the property freehold or lease hold?

Answer: Freehold (Perpetually)

6. When was this building completed?

Answer: This building commenced construction in the year 1997 and completed in September, 2003

               with vacant possession delivered to the owners in October 2003.

               Therefore, it is available for tenancy and occupancy soon after October 2003.

 7. Who usually rent these apartments?

Answer: Businessmen, foreign senior managers, expatriates, traveling businessmen, corporate officers,

               representative offices, besides tourists and holiday makes.

8. Is this an attractive buy?

Answer: Of course it is attractive. For any investors who wish to invest in any property as an investment, we normally recommend the assessment on the following criteria:-

(i)    Location, location, location

 (a)  Location - It simply means that: The property you wish to invest in must be situated within the prime commercial zone in the capital city. In Malaysia, it is obviously Kuala Lumpur and within 2 km or walking distance from the international landmark KLCC. It must be supported by major transportation infrastructure and network.  Preferably served by an efficient multi-billion dollar monorail or light rail transit transportation network-nationwide.
(b)  Location-Here we are talking about an international brand name call Times Square Kuala Lumpur with the prime monorail station by the side of the building.
(c)  Location-Commanding view from the unit available for sale.  Height and views are important features and choices in high rise building.

(ii)   Investment (Capital Return)

(a)  Annual rental income upon investment equals to percentage of capital return.  E.g.: If your rental is RM3000 x 11 months / Purchase Price (RM350, 000).
(b)  Potential in investment capital appreciation.
(c)  Timing of entry into property investment at low entry level. The timing is now when the property market in Malaysia is still at its lowest ebb.

 (iii)       Entry point Your Investment entry        

             Say:  You decided to purchase a property today, you should equipped yourself with all market facts that when you wish to sell back the same property at the same price in the market place a day later would there be any takers or not?

             And can you sell it off readily or not? If the answer is YES, then you should have no qualms making a positive affirmation. Otherwise, it is not prudent to enter into this investment.    

 9. I am a foreigner, can I purchase?

Answer: Yes, you can buy and no need for FIC approval.  So far, we have transacted many units here and 80% involved foreign buyers.

10. I am a foreigner, can I get bank loan financing?

Answer: Yes, you can get a 60% bank loan either from local banks or foreign bank based here.

11. How is the buying process?

Answer: Once you have decided to buy a particular unit, you will place an earnest deposit of 2 % of the negotiated purchase price.  You are then given 21 days to get a lawyer to prepare the Sale and Purchase Agreement.  On signing the S&P Agreement you are given 90 days to pay the balance purchase price.  To avoid fraud, please ensure you engage a registered real estate agent like D-Choice Properties to  handle your preliminary procedure prior to signing S&P Agreement.

 

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