Buying condos in Port Dickson
The best spots for those looking to take up residence are to the south of the town near the golf course and Admiral Cove. Located to the south of the much vaunted ‘The Legend’ and ‘Banyan Curve’ developments and with prime views over the sea, The Port Dickson International Marina Resort is home to Admiral Cove and offers some stunning bargains if you buy at auction.
Agents are pushing hard for sales of developments along the Banyan Curve, but frequently neglect to mention that it looks straight onto a massive Shell Offshore oil terminal and is neighbored by one of Malaysia’s largest petrochemical facilities.
Well chosen condominium units in Port Dickson can offer excellent rental guarantees. However, buyers should be aware of guaranteed rental return deals that make no economic or commercial sense.
If a small, unknown developer is offering a rental returns that sounds to good to be true then chances are, it is. Offers being given without a reputable Malaysian bank backing it and guaranteeing your rental income then you need to be especially wary.
Finance is available although for foreigners, the maximum loan normally allowed is 60 per cent, and the term of the loan depends on the age of the purchaser. Those looking to buy a condominium in Kuala Lumpur are currently looking at a range of between US$ 66,000 and US$ 250,000.
TThe fortunes of the companies responsible have differed widely, in line largely with their targeted market area. Those with a focus on high-end segment such as IGB Corp Bhd, Sunrise Bhd and E&O Property Development Bhd have seen significant earnings growth this year, while the ones with focus on the mass market, such as MK Land Holdings Bhd and LBS Bina Group Bhd, have seen earnings down sharply due to poor sales.
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