Quote:
Originally Posted by Hurricane88
...in fact the same in hcm...we always go for brand new launches by well established local property company...selling mostly to locals plus 30% to foreigners...
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Yes, this is why i am keeping a close watch before committing. In Batam, unless i play the game of buying when everything the developer has not started (not a single brick was laid on ground yet) and then sell AFTER they were half-way building, otherwise its not easy to make a profit in their real-estate market.
Usually after they finish building some time later, price tends to drop,hehehe...why so? Becos the landowner only have 30 years and 30 years later, when they extend, price probably drops further. Therefore the land itself has no real value as another 20 or 50 years later (after extending), it goes back to government.
Landowner themselves already like that, let alone apartment owners. 100% no freehold for foreign estate buyers.
Quote:
Originally Posted by Hurricane88
..also making sure the company build and we pay accordiing to progress and not keep asking for money....  |
Be careful here on big names as well, surrounding economic is another key factor/s to consider too. My parents got burnt during the economic crisis time when they bought some properties in JB about decades ago. And they were bought from big named developers too.
On statistic, Batam's properties has gone up on average of about 10% per year (technically one of the highest among other parts of Indonesia), but then again,that was before so many developer drops into the small island,hehehe...over-stocking goodies can "bubble" things up.
I mainly plan to buy for my staying needs, so i am more looking into apartment blocks that that has already finished building. The other units in smaller size in plan/s were meant for rental yield,hence i dont wish to spend much on them. And since i know those estate that have been fully built, their price will likely come down in matter of time...hence i am doing my own experimental now, to test out if my deduction from now until somewhere 2020 is correct.
If i am right, then its about time i can plan to put my money in,hehehe...
Meantime, enough time itself will give me some "storyline".
Talk about story,hehehe...i actually have a small story to share,that happen last year 2018.
I got to know an elderly man (70s) in Formosa last year CNY (not this year 2019 CNY). He tells me he bought a "house" to house himself in Tiban few years back. Then i notice in my every Batam trip that month onward, i see him staying at the same hotel and in one of our breakfast time, i ask him..."since you already have a house in Batam, how come you still stay in Batam's hotel?",hehehe...
His reply to me..."Tiban too far out...i prefer this area"...."too inconvenient to travel around there...blah blah blah.."
From the part of his sharing, i learned one little thing, if i were to wish to buy a property in Batam to stay in, the 1st 2 key priority MUST be...
1. Safety
2. Convenient
Safety : As far from possibly of any social unrest as possible and in the even of trouble, safety is within reach at the shortest time.
Convenient : I believe no one wants to be too far away from entertainment, daily necessities, emergency medication, healthcare etc etc.
Man his age, making more money should more or less already be secondary.
(from this man, i also got to know his other friends that is around his age too)