With the new LTV and ABSD ruling, my dreams of buying a second property are OVER! But is it?
The Singapore Government’s recent announcements to raise LTV ratios and ABSD have pulled the plug on many Singaporeans’ dreams of owning a second home.
There is a simple solution, and it is staring at you across the Tuas Second Link: Iskandar Malaysia.
Some people might shun the idea, thinking about the snaking queues at the immigration checkpoints, the safety of their children, and the lack of facilities in the area.
However, for the more practical among us, we are already buying our weekly groceries, our fans and lighting fixtures, and our flat packed furniture from our closest neighbour. Living there, or buying a second property there, might just be the right next step forward.
Benefits of buying property in Malaysia
- It’s more affordable than Singapore properties. (Andyou might even be able to afford a landed home for the price of your condominium.)
- Borrowing costs are relatively low (between 4.5% to 4.7%)
- Capital gains tax (Real Property Gains Tax) is low
- Financing is easily available from reputable Malaysian banks
Feeling convinced? Then the next step is to find your ideal home, built and managed by a reputable developer. For this, you need to take a closer look at Sakura Residence, a project by Daiwa House.
A home built on a solid foundation
Daiwa House is the leading homebuilder in Japan, and is among the largest corporations in the world, and one of the most valuable brands globally. It was ranked on the Fortune Global 500 from 2016 to 2018, the Forbes Global 2000 in 2017 and 2018, and the Brand Finance Global 500 in 2017 and 2018. Daiwa House reported over $46.7 billion (JPY3.8 trillion) in sales for FY2018, and it has already sold over 600,000 homes as of March 2018.
You can be absolutely sure that they know how to build your home.
Daiwa House uses state-of-the-art prefabrication construction technology from Japan to build your Sakura Residence home. The technology ensures every home is built to precision, and keeps the home cool on hot days, and warm on the cold nights. The stylishly fashionable high ceilings also provide added airflow.
High ceilings accentuate the grandeur of your home
The developers were also meticulous in considering everyone who might live in a Sakura Residence home, by providing safety features like finger-safe doors, non-slip floors, insect screens, and digital temperature controls, for a comfortable and safe living environment.
Finger safe doors makes the home safer for everyone
The high precision home also means fewer defects when you move in, and easier maintenance in the long run.
If you love Sakura Residence, but dislike the hassle of home renovation and home furnishing, Daiwa House can even help you to ease that burden. You could consider the optional addition of their in-house designed space-saving smart carpentry. This is something you’ll have to see to believe. Visit their showroom to see how their designers managed to maximise storage space without compromising on design.
But what about amenities?
Sakura Residence is located within the Sunway Iskandar integrated city, developed by Malaysian township developer Sunway Property. Within a stone’s throw from Sakura Residence, you’ll get to enjoy the shopping, F&B, and lifestyle amenities at the Emerald Boulevard 88.
Sunway Iskandar also boasts of several public parks, including the gorgeous Emerald Lake which is also a popular location for barbecues and events.
Your children will be able to go to school at Sunway International School, an accredited International Baccalaureate (IB) World School. It offers courses from pre-kindergarten to pre-university, including the IB Diploma Programme in Grades 11 and 12 at pre-university level.
Singaporeans would already be familiar with the Legoland theme park in Medini, and your new home in Sakura Residences puts you just 6 mins away from the beloved theme park. What’s more, residents can expect another theme park within Sunway Iskandar that is currently in the works.
Your concerns about travel to and from Singapore can also be thrown out the window. The recently completed Coastal Highway Southern Link allows residents direct access to Sakura Residence, cutting the 20 minute journey from Second Link to just 5 minutes.
Concerned about safety? Don’t be.
Sakura Residence has a security guard post at the entrance to the development, and residents would be able to screen their visitors before they are allowed entry into the estate.
Outside of Sakura Residence, Sunway Iskandar is protected by 24-hour joint patrols by Sunway’s private security force and the Royal Malaysian police force, as well as camera surveillance throughout the integrated city.
It is safe enough for you to go for a run alone around Emerald Lake in the evening.
What else do I need to know?
You might have heard that foreigners are only allowed to buy properties in Malaysia that cost a minimum of $335,100 (RM 1 million). While that threshold applies to many parts of Malaysia – the threshold ranges from $134,000 (RM400,000) for Sarawak to $670,300 (RM2 million) for Penang Island – there is an exception. Medini Iskandar, where Sunway Iskandar and Sakura Residence are located, is designated as a special economic zone.
That means, there are no restrictions on foreign ownership within the area and no minimum price thresholds for foreign property buyers. On top of that, foreign property purchases within Medini are also exempted from real property gains tax until end 2025.
At Sakura Residence, home sizes start from 3,190 sq ft for a Semi-D, 3,284 sq ft for a Semi-D plus, and from 3,862 sq ft for the bungalows. Prices also start from $804,300(RM2.4 million) for the Semi D and Semi D plus homes, and from $1.1 million (RM3.3 million) for the bungalow homes.
Don’t hesitate. Head down to the Sakura Residence Showroom and see your second property dreams revived.