Anyone invested in Montigo Resort, Batam?

[leesg123]

As above. Anyone bought their villas or Residence?

[Laguna]

We studied this and visited the place。
convlusion : Avoid

[buttercarp]

We studied this and visited the place。
convlusion : Avoid

Lol.... talk about this place....n you get a convulsion!
Why?
Is it because there may be more of these similar properties in future?
Is it because there is nothing much to do there n pple will eventually get bored of the place?

The villas look grand n the sea looks prinstine.
Perhaps my next holiday destination........
Got free wifi so can stay connected.

[leesg123]

We studied this and visited the place。
convlusion : Avoid

I think monthly fee is quite high to maintain it, and you dont have the 'real' ownership as in going there as and when you like it.

[buttercarp]

I think monthly fee is quite high to maintain it, and you dont have the 'real' ownership as in going there as and when you like it.

http://www.batam.com/information/new...m-island-.html

Wow, the maintenance fee is $550 !

"There’s also a monthly maintenance fee of S$550, but for that amount owners get more than 200 staff to attend to their or their tenant’s almost every need."



Wow!

"Owners are guaranteed a yield of 5% annually for the first two years, but a higher yield could be obtained under the shared return basis. ‘We think that once the whole thing gets going and the situation stabilises, double-digit returns are possible,’ Ong said, adding that most investors prefer to lease out their properties to KOP to earn an income."

[Cyberknight]

Lol.... talk about this place....n you get a convulsion!
Why?
Is it because there may be more of these similar properties in future?
Is it because there is nothing much to do there n pple will eventually get bored of the place?

The villas look grand n the sea looks prinstine.
Perhaps my next holiday destination........
Got free wifi so can stay connected.

my conclusion about holiday home. PAYU. pay as you use. book into banyan tree, whatever resort for and extended period. will still be lesser in the longer term than to own it.

[zzz1]

Used to go batam for both work and leisure, for the past 2-3 years,their residents population grew from 0.8 mio to today' about 1.1- 1.2 mio ppl. And is still growing . traffic started to jam and almost similar to jtk ..

Alot of new and big mmc choose batam to set up factories/workshop.

My take of property is this , while there potential for upside, u need to be careful on the location.
Safe bat on batam centre or Nagoya city still OK,

Avoid those areas not developed yet , look at the road connectivity, there some development road access still by off road or mud track...while developer offers tranquility and nature. In batam u need to be at the city to be safe..

For this project, there nothing so special and is just another resort hotel, end up u maybe use for your self stays enjoyment . plus 550 pm is way too high..the location wise is near to batam airport, most travellers,business or leisure, still preferred batam centre or nogoya entertainment district..

Of course that my IMO n my take..

[Laguna]

sori, don't have much time to have a good write up.
A few key points:
1. lease term : I think is 30 years
2. only the front row of the project have good seaview, those behind just look over the roof of the others
3. the other project by Keppel, Nonsa Marina, the occupany rate is very bad, and the property is badly maintained. ie the outlook of this project will be of the same fate.
4. this developer is famous for high profit margin. Hamilton Scotts, Ritz Carlton Residences in Sg
5. poor design layout.

People go to Batam just buy coupons to Turi or others for $50-$100 a nite, who will pay for this?