Now the developer (Hatten Group) is developing RM 2.0 B (US$ 625 M) project called Hatten City. The 1st parcel is including 2 famous hotels - Ibis Hotel and Four Tree Hotel by Hilton Group as well as Imperio Mall and Luxury Condominium. You can have a nice sea view from this project. The whole project is targeted to be completed by year 2020.
The group launched the 1st phase by introducing luxury condo and Imperio Mall at Hatten Square from 21 December 2012 to 23 December 2012 and still in the ongoing stage to promote
Fact sheet on Malacca:
- Appreciation of Commercial Retail lots soared from RM1800psf in 2009 to RM3000psf in year 2012
- Appreciation of Residential Properties increased from RM250psf in 2009 to RM950psf in year 2012
- Ninth Malaysia Plan Campaign to promote Foreign Investments via MM2H facilitates property purchases with tax reliefs and easy access to foreigners. Centrepoint to commute between Singapore , Johor Bahru and Kuala Lumpur.
- 1 hour 30 mins from Kuala Lumpur
- 1 hour from Seremban
- 2 hour from Johor Bahru
- 2 hours 30 mins from Singapore
- 5 hours from Penang
Below is the video introducing Imperio Mall @ Hatten City, Malacca.
Hey Jack, Merry Christmas!
ReplyDeleteHope you had a good time at Malacca. I've only been there a couple of times in the past. Growth prospects of the property market seemed pretty slow then with alot of abandoned projects around the town area. Is it different now?
Merry Christmas to you too Vincent. I also never expect myself to buy a unit there. There is a quite complicated story which I hardly explain it to you here. Anyway, the abandoned project (Mahkota Parades and its surrounding) was taken over by Hatten Group and it is quite "happening" now. From what my agents told me, Mahkota Parade (Current hottest spot in Malacca) can rent out at RM20 psf, which I have to discount it by at least 30% to 50% for my margin of safety. So if I could have RM10 psf, minus off all the other maintenance charges, I could have around 5% yield (which can still beat 4.x% yield). I hope this is the worst case scenario I could get for first few years. And I do expect another capital appreciation in next few years as the land supply in Malacca CBD area is getting lesser. So far, we still could not find a really "PRIME" shopping malls in Malacca. I hope this project could success in long run. I do not mind to liquidate it off 5-10 years later if the price could double up.
ReplyDeleteWah. Looks like Mlc is very different from the last time I visited. The last time I went, the Hatten mall was newly opened and there were many vacant units which made the mall really deserted as compared to the other two malls beside it.
ReplyDeleteHmm I'm not too sure about the capital appreciation there as the last I heard the Mlc gov is trying to move the CBD area to Ayer Keruh (hope I spelled it right) where all the state offices are situated. Kind of like a small Putrajaya.
I see. Yup, Mlc by far is a famous tourist attraction. It's a waste if you don't come to Mlc if you come to Malaysia for the 1st time. Hatten Square (newly built) is like what you mentioned (A desert). The most "Wong" place now is Mahkota Parade. Thanks for your info. Ayer Keroh is quite near to the Plus highway Toll. So I believe there is a potential in long run. Anyway, the tourist attraction is still at Bandar Hilir side there.
Deletehi. I am also a Malaccan and living in KL. Bought some Melaka properties before.
ReplyDeletePlease don't mislead and give the wrong impression of residential propery prices are from $250 to $950. This is ridiculous and not realistic.
In order to have a real capital appreciation, the property, especially condos need to be able to rent out at least 5% of the property price. So, if a condo worth $500k, need at least $2500/month.
There will be at least 1000 units of high-end condos releasing from 2014 onwards. Mostly are investors and competing for tenants.
If unable to rent or service loan, some owners will reduce the selling price.
Hi, thanks for your feedback. May I know the realistic prices for Malacca Residential property? Just few years ago, Mah Sing also launched RM1,000 psf property in PJ / Mont Kiara. And it is also criticized for its unrealistic price offering.
DeleteHi Jack,
ReplyDeleteI am now considering Hatten's new project located at Pulau Melaka - Harbour City.
Have you heard about it? actually this is a suite package which im keen on seaview suite for my investment. Per sf : RM740/sf , 3+3+3 year's 6% return ( guaranteed ) but year 7-9 is base from the market value.
Appreciate if you would like to share with me about your investment for the previous hatten project.
Hi, I believe that 740psf is cheaper compared to previous launch of Imperio residence which can hit 1000psf easily. Nonetheless, you gotta be mindful of the booming supply of residence units in this area (Melaka Raya) during these few years. Nonetheless, I heard from Sales Agent that an international cruise center will be built here, hopefully can further boost up the tourism sector here. One more thing is that, please ensure that there is more reclaimation work in front of your sea view suites, as some of the Hatten city investors are angry of the reclamation works that may block the view from their units.
DeleteHi jack, are u one of investor for Hatten city? Do u have problem on GST?
ReplyDeleteHi, I understood that there will be GST of 6% implied to progressive billings from Apr 2015 onwards.
DeleteHi Jack,
ReplyDeleteEarly wishes to you happy 2016 New Year. I did a research for quite some time and found no answer for turning the imperio residence unit as service apartment for long or short term rental.
Do you know any management group or investors is organizing this plan?
I have invested a unit and feel safer to find a group management that can manage the unit and receive steady income. Any recommendation?
Hi, I'm intending to buy a last few units in Imperio Residence, not many choice but its more for investment so I'm ok. I wonder if its a good time now given then the bullet train is up in 2020? Do you think the value will increase 20% :))?
DeleteHi, if I am not mistaken, Imperio Residence will be completed only after Imperio mall is completed and in operation, as I think it is not good if you are staying above a mall without operation. Nonetheless, with current market heading downtrend, I hope that by 2019 the market will turns positive again. For sale & lease back by group, I believe that it is important for investors like us, but it normally takes a higher risk for new units as compared to those units in more established area like nearer to Jonker street. Nonetheless, I believe the Hatten group will not abandon their flagship project as this project carries their own brand name - Hatten City.
DeleteHi,
DeleteI wont be staying in the unit as we have opt for the buy and lease. Hatten is responsible to find tenant by 6months from the obtaining of keys and the lease is 3yrs. With 2yr to completion and 3 yr lease, the property will be hand back to me in 5yrs, so I guess there is enough time for the value to grow, what do you think. Can u share your invested unit? thanks
did u buy in Malacca or booked thru the Singapore office?
Deletehi, i have a hatten suite to let go, the Guarantee Rental Return will be start from this year May, pls pm me for more info
Deleteashleyong_827@yahoo.com
thanks
I'm thinking of investing in Hatten Suite. Any existing owners here can share whether the developers really paying 6% guaranteed rental for 9yrs or is it just a marketing gimmick?
ReplyDeleteHi merri Tan,
DeleteI am hatten group property advisor.
Can i have your contact number ?
I would like to share some information to you and let you know more details about your questions.
feel free to contact me
William yap
016-7139423
Hi wanteng,Melaka city centre invesment project
ReplyDeleteHatten harbour city
1.Retail shopping mall unit
2.Resort
3.Hotel
First ever water theme park in melaka City Centre..all investment comes with RENTAL ASSURANCE.
Limited unit left.
For more information
Kindly contact
William yap
016-7139423
Property advisor.
The whole development seem much worse. Hatten already being boycott by malaysia retail chain association, Element mall failure explain everything.
ReplyDelete