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Coming Year End ... busy with work but also busy with food exploration :)

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Wednesday, June 30, 2010

Higher Base Lending Rate, 6.05% per annum

New BIG burden ...
  • Due to the previous interest hike of 0.25% on the BLR, no choice as Yve would need to raise the rental fee to the tenants. Actually we have been very nice to the tenants as during last year economy crisis, Yve did not raise any yearly rental fee as we understand their situation to survive during the economic crisis. We do not want to lose good tenants too.
  • As Yve busy taking care Dylan, so I represented her and went down to met up with the tenants and explain to them on the rental increment. Thank God they all accepted it and understand and appreciate our support during bad times.

I have not been to BPK for few months to survey the progress of the area. Finally the new 3 storey shop lot is completed and even got a police station and petrol station which still construction phase. AM Bank, Hospital, 7-eleven, Clinics, Car Show Room, Super Market and Sports ToTo also moved in. 1km distance from Aeon Jusco Bandar Bukit Tinggi.
  • Let me share some advice when buying commercial lot than residential lot. For commercial, always look into this few areas

    1. Developer background.
    2. Look at the developeer master plan of that area and also future development proposal by the Majlis Perbandaran.
    3. Must visit the actual site. To me, I prefer a much empty land around the commercial area which can cater for future development which eventually will drive the property value up.
    4. Do not invest in very 'ulu' / desserted place even the price is cheap.

    Note: If you have lots of money, then just buy a shop lot in a hot commercial area with a very good rental return.

Yve's Shop lot ... developer by IOI Group ... hope this area will boom like Bandar Puteri Puchong one day ...

  • With the BLR rate increased, any impact to your financial spending?


smallkucing said...

That's why so many people opt for the fixed rate/islamic loan. Though the rate slightly higher but it's fixed

suituapui said...

Wow! You so kaya!!! Real estate owner! to invest in property - not cars or anything else. Their value depreciates the moment you buy them...but not property. Going up and up... Wise move!

thule a.k.a leo said...

So, both you & yr wife are property investors :) just like my wife & I!
For the time being, we have stopped buying commercial properties coz we have quite a lot of commitments.. plus the fact that my second child is on the way is not helping either!
I am a firm believer that property investment is the way for a passive income in the future... as it always hedge against inflation :) maybe we can share our knowledge someday.

P.S: The increasing BLR has no impact on me for the moment, as I pay more than what the bank charges me monthly :)

vialentino said...

smallkuching: yeah, but banks are offering reduction blr if u refinance...consider still ok unless the BLR hit 12% previously.

suituapui: true, thats why I will never buy a nice car as u said, value will depreciate...prefer more to property.

thule: wow...good move to invest in property ... sure sure, one day we can talk about investment ... right now i see property development too supply more than demand now.

cheeyee said...

I just refinance my house loan last year, with reduced monthly installment. But we are paying more than the actual installment amount, so no impact for us.

Btw thanks for the tips / advice. It will be another dreams come true buying 2nd property. :)

reanaclaire said... poe tau to sau choe.. so nice.. next time IF i buy shoplot, better get advice from you.. :p

Dora said...

yeah hope to buy shoplot like u :-)

Sheoh Yan said...

It is a very wise move to invest in property like shoplot. You are have "lambang kekayaan". Well done.

levian said...

everything is definitely rising. its like everyone is rushing to get a house lately, or invest in a cheaper shoplot for its rental.

uLi.佑莉 said...

Sure got impact le....$ not enough to use le bro....

Joanne Ting said...

Is it worth to invest in Klang now? IOI is a very good developer

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