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Coral Vista Sdn Bhd
20-4, Jalan 3/3C, Sri Utara,
Batu 7, Jalan Ipoh 68100
Batu Caves, Selangor,
Malaysia.
Tel:
+603 6250 8131 / 5136
Fax:
+603 6250 9134
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| How do I go about purchasing a bungalow in Erina Heights? |
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The 1st step is to choose an available lot & lay a MYR 5,000 (or USD 1,500) earnest deposit . . . In Erina Heights, ‘What You See Is What You Get’.
Choose 1 out of the 11 designs available that suits your lifestyle best . . . the Sales and Purchase Agreement (SPA) must be signed within 14 days from the day you lay your earnest deposit. Failing which, the earnest deposit will be forfeited & the lot booked will be re-opened for sale.
10% deposit (land + house) is required upon signing the SPA. There is no exception to this rule. Subject to qualification . . . panel bankers has agreed to finance up to 90% (for local purchasers) or 70% (for foreigners) of the value of the home. |
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| Do I need to pay for any legal fee? |
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Legal fee will be borne by the Developer (“CORAL VISTA SDN BHD”) . . . while the Loan Agreement will be borne by the Purchaser.
Should you choose to use your own solicitor, you will have to settle the legal fee yourself. In this instance, NO AMENDMENTS WHATSOEVER to our standard agreement are allowed. The agreement content must be taken in total. |
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| How much is the service or maintenance fee? |
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All areas within your property is your responsibility. The maintenance fee for the 1st 2 years from the date of completion is 2 ½ cents (or 0.025 cents) [terms in Malaysian Ringgit] per square foot (sq. ft.) monthly
E.g. - if your land is 4,000 sq. ft. – the maintenance fee will be MYR 100.00 (or USD 30) per month.
At the end of the 2 years, all residents will be invited to elect a committee to form the Management Corporate. Subsequently thereafter, the Board of this Management Corporate that is elected by the residents will be solely responsible for the day to day maintenance of all common areas and services. |
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| In the event the Developer cannot continue with the Development, where does the Purchaser stand? |
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| i. |
The land is free from encumbrances and the Developer has NO LOAN i.e. Zero Gearing. |
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| ii. |
In addition to the above, the Developer has completed all earthwork on every piece of land that they are selling . . . Extensive landscaping valued + MYR 5million (or USD 1.5million) or more has been spent . . . and more than 50% of the infrastructure work is ready (including underground sewerage, pipelines, drainage, power substations etc.) |
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| iii. |
The Project has been approved by all relevant government authorities including subdivisions, pre-comp plan and conversion of land usage. We are presently in the process of applying for individual title. This has been verified by the end-financing banks and our panel solicitors. |
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| iv. |
The Purchaser or the Bank that is giving the loan . . . will pay the Developer progressively against progress of construction at site. At no time will the Purchaser or the Bank overpay the Developer or Contractor.
In the event, for whatever unforeseen circumstances, the Developer is unable to continue with the construction . . . the Bank or the Purchaser could then choose another Contractor to complete the Home . . . Because at no point in time has the loan dispensed exceed the value of the actual work at site.
The fact is that the Value of the Property ALWAYS far EXCEEDS the loan dispensed or progressive claim at any point in time during the progression of the Development. |
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| v. |
In addition, the Purchaser is protected and covered by Malaysia’s Law by the Sales and Purchase Agreement (SPA) which confers legal title to the Purchaser. |
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| Who will rent the Bungalows? |
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| i. |
In comparison with other development in Malaysia, only Erina Heights gives you a 100% fully-furnished, renovation-free home with just ONE price.
‘What You See in Erina Heights IS What You Get’ . . . In your home, everything you will ever need and wanted in your home, will be given to you . . . right up to 3 sets of towels for every bathroom, 3 sets of bed-sheets, toiletries and so forth.
For a 1-storey Bungalow with 4 bedrooms with full hotel-like facilities, Jacuzzi, and a 4-star finishing (which could accommodate more than 10 persons), we are renting it out at only MYR 200 (or USD 90) per day.
In comparison, a 1,200 sq. ft. 3 rooms serviced apartment with basic furnishing in Port Dickson is going for MYR 350 per day. |
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| ii. |
There are 7 most visited tourist hot spots in Malaysia, i.e. Cameron Highlands, Fraser’s Hill, Penang, Langkawi, KL City, Genting Highlands and Colmar French Village.
4 out of 7 of the above spots are only within 15-45mins from Erina Heights . . . we are at the center of the most captivating & visited spot in Malaysia. |
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Awana – Genting Highlands
(The Only Casino Entertainment City of Malaysia) Fraser’s Hill (English Village) |
- 15mins |
| Fraser’s Hill |
- 45mins |
| Colmar French Village |
- 45mins |
| KL City Center |
- 30 to 40mins |
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| iii. |
Stopovers from Genting Highlands’ tourists . . . there are 18million visitors to Genting Highlands in 2006. |
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| iv. |
Local tourists from Klang Valley . . . we are at the fringe of the most affluent market in Malaysia, i.e. Klang Valley. |
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| v. |
Other local tourists. |
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| vi. |
Singapore Tourists. |
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| vii. |
Wedding Receptions & Photo-shooting Venues. |
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| viii. |
Conferences, Seminars, & Training Facilities. |
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| ix. |
European Tourists . . . who wants to escape the cold harsh winter. |
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| x. |
Middle Eastern Tourists . . . who wants to escape the brutal summer heat. |
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| Tell me in a nutshell . . . Why should I invest in Erina Heights? |
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| What makes Erina Heights so special in comparison with other Developments? |
| i. |
Unsurpassed natural beauty. |
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| ii. |
The way Erina Heights has approached in developing the land and its supporting facilities … the most complete development in Malaysia till date … with total concept and total planning … Truly A Lifestyle.
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| iii. |
Erina Heights sells 100% fully-furnished, renovation-free premium bungalows at just ONE price … as against other developments that sells only houses plus basic furnishing and finishing.
This creates a unique long-term rental income and an investment opportunity. It ensures Maximum Income Generation … coupled with its excellent location at the foothills of Genting Highlands (only 15mins away) and at the fringe of Klang Valley plus the Developer’s unique packaging … its creates one of the best and safest investment options in Malaysia.
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| iv. |
.Unsurpassed value for money. |
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| v. |
The only Development with 4 products. |
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| 1. |
A Complete Home and An Environment 2nd to None. |
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An Excellent Investment.
iii. An Ideal Retirement Haven. |
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An Exciting Holiday Vacation Home for your family, friends and staff.
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| vi. |
Erina Heights gives you all these options |
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| 1. |
To keep the property for Long-Term Income. |
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To sell in 10 years’ time. |
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Option to retire end of 2009 or thereafter.
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| vii. |
Plus all these other benefits: |
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| 1. |
To get back 5x or more your capital layout. |
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Get a Real Inflation-proof Retirement Income of USD 550 to USD 1200 per month for life. |
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Create a future inflation-proof wealth to leave to your loved ones. |
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A legal investment which is protected by Malaysia Laws…verified by lawyers and the bank. |
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Hassle-free ownership. |
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Get 7 days FREE HOLIDAY every year…for life. |
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An Ideal Retirement Home - with 24hrs doctors / ambulance-on-call. |
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Tax-Free Gain – Exempted from Property Gains Tax on disposal of property. |
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| At the end of 10-15 years … Who pays for the refurbishing cost? |
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The Purchaser will pay for the refurbishing cost. Refurbishing cost in NOT included in our Sales and Purchase Agreement (SPA).
Most of our furniture is made of solid wood. As against plywood / chipboard, with proper maintenance, these furniture will last a long time.
What probably needs to be replaced are all electrical appliances, including the air-conditioning units, hair-dryers, toaster microwave oven, airpot etc …. Plus the bed-sheets, floor mats, table mats and towels etc.
At today’s cost, your refurbishing cost should not exceed MYR 30,000 (or USD 9,000). Replacement of bulbs, minor repairs will be taken care of by the Developer free-of-charge . . . if you sign the Rental Pool Agreement. |
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| When the casino cum entertainment centre in Singapore is ready in 2010, will it affect Genting Highlands and Erina Heights? |
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There’s a possibility Genting Highlands will lose some of the Singapore tourists … but the new attractions in Singapore will make it into one of the most exciting city in this part of the world. With the budget airlines, electric trains and excellent connectivity from Singapore to Kuala Lumpur – Malaysia in general, Genting Highlands and Erina Heights in specific, will definitely benefit from the spill off.
In short, this spill off will far exceed the loss to Singapore. Just as the increase in connectivity plus affordability of budget airlines has bring in excess of 7.8 million tourists a year to Malaysia |
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| If You are a FOREIGN INVESTOR … |
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| What are the advantages of investing / retiring in Malaysia as against other countries? OR Why choose Malaysia? |
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| i. |
The Government of Malaysia has launched the Malaysia My Second Home (MM2H) programme (about 3 years ago) . . . in which it provides incentives for foreigners (retirees in particular) to live permanently here . . . Among them are … |
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10 years visa. |
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Ownership of property valued MYR 250,000 (or USD 72,000) and above. |
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Tax-free car. |
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Tax-free income. |
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| ii. |
Every year, beginning June or thereabout, the Malaysia Mega Sale Carnival (MMSC) will be launched nationwide in many major shopping complexes … where you can indulge yourself in great bargains and discounts plus a whole lot of fun-filled activities and contests. (MMSC official website: www.mymegasale.com) |
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| iii. |
Being a Commonwealth country, Malaysia have Laws & Constitutions that protects the interests and welfare of all her citizens and guests.
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| iv. |
Low cost of living, good medical facilities, excellent infrastructure and living standards. |
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| v. |
Widespread use of English. |
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| vi. |
Political and economical stability. |
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| vii. |
Warm climate … excellent getaway location to escape the cold and harsh winter. |
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| viii. |
Good security … low crime rate compared to many Asian countries. |
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| How do I go about applying for P.R. in Malaysia? |
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As a whole, it is quite difficult to get a P.R. status in Malaysia … as an alternative, the Malaysia My Second Home programme promises the right of residency (with 10 years visa … which may be automatically renewed without hassle), but without the right of P.R. or citizenship in Malaysia.
For complete details on the Malaysia My Second Home programme (MM2H), including qualifying criterias and application procedures, please visit any of the following websites:
a. www.mm2h.gov.my (MM2H official portal)
b. www.tourism.gov.my (Tourism Malaysia)
c. Erina Heights is happy to assist all foreign purchasers. |
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| * Note: All US currency converted are based on 1 USD = 3.30 MYR … and figures are rounded up to the nearest. |
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