Medan Kota

I have always been obsessed with properties.. I love looking at the layouts, the floor plans etc.. in my younger years, my mum used to bring me along each time she went for any property viewing.. so it could be that, that I have always enjoy looking at the showflats, the miniature of the development.. understanding its direction etc..

With that, over the last several years.. I have been eyeing to buy some for investment.. and I am the type of girl that do detailed research and calculations.. and yes I once paid some US$5000 for a property investment course… and after listening to what, why, and how .. as well as what to look out for.. how to manage.. knowing the difference between residential and commercial property and its benefits… I found myself knowing too much and calculate too much which ended with me not finding any right one at all..

Then during my past December break in Bangkok.. I saw one.. of good value and one that over so many years I spent searching.. it’s the one that I knew it right away that I was gonna make money.. it sorts of put all the green ticks on my checklists..

Having seen how payments are made in Thailand… my husband and me immediately felt that we probably will not be buying any property in Indonesia till some changes to the Laws are made… let me tell you why… however, please note that this is my own personal view..

the down payment.. in Singapore.. it used to be 5% and that was it.. the 95% balance is paid upon receiving the keys.. though the laws have now changed… in Thailand, a 10% down payment is required with the payments being spread over the number of months till the unit is done .. the 90% is then made upon receiving of key.. in Indonesia?.. well 10% is required almost immediately.. and the rest of the payment began just about as soon as you signed the purchase order..  and I’ve just found out that my father-in-law bought one unit in Jakarta.. has since paid it in full some 1 year back.. and today.. the building is not even ½ done…

part of acquiring property for investment is to get some rental yield… in Medan.. there is no possible way that the rental income will ever cover the cost of the mortgage!!.. the rental here in Medan is really something to laugh about… it’s so so cheap that not just me alone but all expats seem to agree with me…

many times.. good properties are owned by the rich.. so each of them has the attitude that.. unless you are offering some crazy price to buy.. only then they will sell it to you ..else it’s like.. ‘this is the price I want to sell.. if you are happy, then buy it.. if not.. then goodbye’.. its never about being reasonable … or the realistic price..

and many times.. what you see is never what you get..

having said all of the above.. one thing that you can be quite certain about property in Indonesia is that.. most of the time.. you will get capital gain.. which I have to say that it’s was the main reason why I wanted to invest in Indonesia initially…(before the $5000 course)  but now with.. read too much.. calculate too much.. listen too much.. seen too much.. Indonesia is definitely not on my list for the moment…

Popularity: 21% [?]

Many of you may not know that Lippo holds a big chunk of property in Singapore and other countries in the Asia regions… and some how.. Singaporean are mad about Lippo group and its stock but Indonesian are being turn off by them…. my father-in-law still hold the Lippo group shares which he bought 10 years back at Rp12000, and now, its  like peanuts….

and most recent, the group is issuing REIT shares and hoping to launch in a few weeks in Singapore…. the property are purely Retail space in Indonesia and part of the plan is to take over Binjei SuperMall as well as Sun Plaza in the 3Q of next year!!!! that should be interesting….  our banker thought that it will be a good buy and after seeing the list of property that they plan to acquire and those that they already own, I do have doubt about it….  but again I may be wrong… ^0^

Popularity: 13% [?]

I guess its official now that the Deli Sinar Menara Plaza is being taken over by a Jakarta investor who bought it for 200 billion rupiah… a nice cool 80 billion rupiah in profit over the period of 4 years….. the ex owner bought it for 120 billion 4 years back….

so… there should be a bigger place to hang out soon for all of us here who are still stuck in Medan…  it is plan to be bigger than sun plaza so as to attract all crowd else it will be a flop… but like we all know… nothing here in Medan is sure so let’s wait and see….

Popularity: 11% [?]

It’s been said that “The Royal Sumatra” have been taken up by a Korean businessman whom have since redevelop the complex and now launching its second phase of the development.  Many of the units that have the golf view have already been taken up but there are still some units left if any of you are interested in for an investment.  The planned have it that SIS (singapore international school) will be relocated there.  There will also be full club house facilities and surprisingly, a water theme park too!!! as well as several restaurants.  For expats, it is very close to the Medan International School too – about 5 mins drive…  The price of the property have skyrock from initial of about Rp 800.000 per sq. m. from last year to the current of about Rp 1.500.000 per sq. m.  Interested? check it out… the complex is in a nice environment.

Popularity: 21% [?]