Posted by
mdg
15 yrs ago
I bought a property last year (Nov 2008) in Jordan for investment purpose. This property is fetching me good rent around 12K+ a month. However, property is too old and expires in 30 years time. One of the main land buyer is interested to buy this property about 150K more than what I paid. I have 25 years mortgage @ 4% and cashed down 30%.
Will it be wise to sell this property now for 150K profit? What will be future of old properties in Hong Kong? Will it be wise to sell it and buy another? Your valuable comments are very much anticipated.
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Nov08 was a pretty low price level so you should be making 30%+ i would think...
how much is the value of the property? also what is the intention of the land buyer? are they buying up to do a redevelopment? in that case i wouldn't sell now
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mdg
15 yrs ago
It is about 2 mil $... Buyer is not a developer but an investor from main land who has whole cash to pay off... No mortgage needed for this guy according to my agent...
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well it's hard to tell, but off hand 15% return does not sounds great in the current circumstances
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mdg
15 yrs ago
Thanks for your input everybody!
Walkup: yes, i dont have any pressure to sell this property because of good tenancy. However, i have a concern about the age of this property. It expires in 30 yrs time and i have 25 yrs mortgage... Do i end up taking only rents if i dont sell it. I dont have any idea on this which is matter of concern to me.
dadda/cookie: your information is very helpful...i really didn't knew/realise that. I feel like bees are in my garden.
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