Author: Premela R.

Global Property Investor – Singapore Private Home Prices Fall 1.1% in Q3 Amid Cooling Demand

International Mortgage Lenders

USA

For the first time in seven weeks, U.S. mortgage rates increased, with the average 30-year fixed rate rising to 7.31% in September 2024. Despite this, borrowing costs remain lower than earlier in the year when rates reached 7.22% in May. This rise is attributed to broader economic factors, including inflationary pressures, which may continue to influence buyer behavior in the coming months.

Source: Mortgage rates in U.S. increase for the first time in seven weeks

U.K.

According to mortgage lenders, the U.K. housing market has experienced the fastest home price growth since February 2024. Despite economic uncertainty and fluctuating interest rates, house prices have surged. While this growth is most notable in regions outside of London, ongoing challenges, such as interest rate hikes, still contribute to affordability issues for buyers nationwide.

Source: U.K. posts fastest home price growth since February, mortgage lender says

Canada

Canada's housing affordability crisis is expected to linger for the next decade, with soaring prices in key cities like Toronto and Vancouver. While some markets, such as Calgary, are seeing more affordable options, the nationwide housing affordability challenge remains a significant concern, particularly as high prices outpace income growth.

Source: Canada's housing affordability crisis to linger for a decade

Australia

Australia's property market is showing signs of cooling due to rising interest rates, which have weakened buyer demand. While inner-city areas like Sydney and Melbourne remain more resilient due to continued population growth, the broader market is facing challenges. Affordability concerns persist, with property prices and rising interest rates putting pressure on buyers across the country.

Source: Australian Property Market: Pace Of Price Growth Slows

Dubai

Dubai's luxury housing market for properties priced above $10 million is beginning to cool down. In the third quarter of 2024, high-end sales dropped nearly 30% compared to the previous year, but there was still an increase from the second quarter. The city's luxury property inventory has also sharply declined, leading to a scarcity of available high-end homes.While areas like Palm Jumeirah remain strong, new neighborhoods such as Palm Jebel Ali are emerging as hotspots.

Source: Dubai's Booming Market for $10 Million-Plus Homes Is Tempering

Singapore

Private home prices in Singapore fell by 1.1% in the third quarter of 2024, marking the first dip in three years. This decline was driven by a slowdown in demand for high-end properties, particularly in prime locations like the Core Central Region (CCR). Despite this drop in private home prices, other housing segments, such as HDB flats, saw price increases, suggesting a shift in the market.

Source: Private home prices fall 1.1% in third quarter, first dip in a year; HDB prices rise

Global Property Investor – Canada’s Housing Market Grows 1.3% Amid Affordability Concerns

International Mortgage Loans
International Mortgage Loans

USA

Mortgage rates in the U.S. have dropped for three consecutive weeks, hitting the lowest level in two years. This decline could make home buying more accessible, particularly in areas where borrowing costs had been a significant concern. However, affordability issues persist in certain regions, like Florida, where rising insurance premiums add to homeownership costs.

Source: U.S. Mortgage Rates Fall to Lowest in Two Years

U.K.

The U.K. property market is still grappling with the aftermath of the economic instability triggered by rising interest rates and the mini-budget crisis of 2022. Despite some recovery, house prices remain volatile, especially in areas outside London. The market continues to bear the scars of weakened demand and affordability challenges, with experts predicting a slower recovery in the coming years.

Source: Property market still showing the scars from Liz Truss's mini-Budget says Foxtons

Canada

Canada’s housing market experienced modest growth in the summer of 2024, with home sales rising 1.3%. Cities like Calgary and Ottawa saw increased activity, while Toronto and Vancouver struggled with high prices and affordability issues. Though some smaller markets show promise, overall sales remain below historical averages, and long-term affordability remains uncertain.

Source: Canada’s Housing Market Growth Flattens Over Summer

Australia

Australia’s property market is facing a downturn, particularly in outer and middle-ring suburbs of cities like Sydney and Melbourne, where interest rate hikes have reduced demand. While these areas are seeing declining property values, inner-city markets remain more resilient, supported by population growth. However, the overall market faces affordability challenges​.

Source: Sydney property market forecast for 2024

Dubai

Dubai’s real estate market is booming, with strong demand for both apartments and villas, particularly in areas like Dubai Marina and Jumeirah. Off-plan properties are increasingly popular due to attractive payment plans, while the resale market is benefiting from high rental yields. Investors are drawn to the city's favorable market conditions, making it a hot spot for both luxury and mid-market properties​.

Source: Is the Dubai Real Estate Market Destined for Collapse? Insights from Experts

Singapore

Despite a significant slump in private home sales in September 2024, Singapore's condominium prices have surged, driven by demand for luxury properties in areas like Orchard Road. The U.S. Federal Reserve's rate cuts have lowered borrowing costs, benefiting buyers with variable-rate mortgages. This dynamic has maintained high property prices despite overall sales declining​

Source: Inside the Great Singapore Real Estate Standoff

Global Property Investor – U.K. House Prices Bounce Back with 2.2% Growth in August Following Rate Cuts

Global Mortgage Group

USA

The Federal Reserve’s 50 basis point rate cut on September 18, 2024, is expected to lower borrowing costs, providing relief for homebuyers and investors. Mortgage rates may decrease, spurring demand for housing in regions such as the Northeast and Midwest. However, affordability concerns remain in areas like Florida, where rising insurance costs continue to be a challenge for the housing market.

Source: Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut

U.K.

London’s housing market defied the national trend in July, showing resilience despite broader declines in property prices across the U.K. While other regions experienced price drops due to high inflation and mortgage costs, London maintained stable growth, driven by strong demand in the capital. Analysts note that London’s unique market dynamics, including foreign investment and limited housing supply, have insulated it from the national downturn.

Source: London house prices defy national mood, drop in July

Canada

In August 2024, Canadian home sales increased by 1.3%, particularly in cities like Calgary and Ottawa. While Toronto and Vancouver remain sluggish due to high home prices and affordability challenges, smaller urban areas are experiencing renewed interest. The recent interest rate cuts are making it easier for buyers to enter the market, although overall sales remain below historical averages. The long-term trend is uncertain, with affordability still being a significant issue in major cities.

Source: Canada Existing-Home Sales Climb 1.3% in August From July

Australia

Australia’s housing market is facing a crisis, with over a quarter of suburbs experiencing declining property values. Interest rate hikes have weakened demand, particularly in outer and middle-ring suburbs in cities like Sydney, Melbourne, and Brisbane. Despite strong population growth, rising rates have made housing less affordable, driving prices down in suburban areas. Inner-city markets are more resilient but are not immune to the slowdown.

Source: The severity of Australia’s housing affordability crisis is obvious - this is how politicians could fix it

Dubai

Dubai’s real estate market continues to attract investors, with both apartments and villas showing strong demand. Key investment areas such as Dubai Marina, Downtown Dubai, and Jumeirah remain popular. Buyers are drawn to off-plan properties due to favorable payment plans, while resale properties are seeing increased interest due to strong rental yields. Thorough property inspections and financial planning are essential for those entering the market, particularly with high demand for both luxury and mid-market properties.

Source: Dubai real estate guide: Resale market trends, opportunities and popular areas to look out for

Singapore

The U.S. Federal Reserve’s recent interest rate cut is influencing Singapore’s financial landscape, particularly affecting mortgage and savings interest rates. As borrowing becomes cheaper, homeowners with variable-rate mortgages may see lower monthly payments, and real estate investors could benefit from reduced financing costs. Analysts predict that the real estate market, especially in high-demand areas like Orchard Road and Marina Bay, could experience a rise in investor activity as financing becomes more affordable.

Source: CNA Explains: What does a Fed rate cut mean for you in Singapore?

U.S. Banks DO NOT want you to know this!

Bridging Loan Canada

It’s been a hectic week with several conferences in town and F1 next week. As we are all waiting for the Fed’s decision this week, I wanted to update everyone on a new loan program that has been very popular since we launched it.

Did you know you can qualify for a U.S. mortgage by using ONLY the rental income of your investment property - there is no need to show personal income!

Introducing - GMG U.S. Rental Coverage Ratio 1.0 Program

“PROJECTED” RENT ÷ [ MORTGAGE + TAX/INSURANCE/HOA ] ≥ 1.0 = YOU QUALIFY!

We use the rental income generated from the property investment, and there is no need to qualify using your personal income!

It’s common-sense underwriting, designed specifically for overseas investors, including both foreign nationals and U.S. expats.

What Factors Affect the Rental Coverage Ratio 1.0

GMG U.S. Rental Coverage Ratio 1.0 is affected by Operating Income and Debt Service. I’ll talk about this below, but Operating Income (rent) is trending up, and Debt Service (mortgage rates) is trending down. That is to say, future margins will be higher (income up + costs down).

There are 2 constants in the U.S. real estate market:

1. Property/Rental prices will go up (income)

2. Rates will eventually be lowered (cost)

Here’s why:

1. There is a shortage of 7M homes in the U.S. 

With mortgage rates where they are now, the marginal buyer cannot afford to purchase a home and is forced to rent. Many institutions like Blackstone are also trying to buy up as much supply as possible so they can dictate pricing. 

Trend = income up

2. We can assume there will be a 25-50bps cut this week in the Fed Funds rate.  Mortgage rates have already factored this in and are at multi-year lows now. 

Trend = costs down

What makes the U.S. real estate market so unique is that you can buy a home today and then refinance it at a lower rate when rates fall or when the price goes up.

Here is a snapshot of our U.S. mortgage solutions:

No age restrictions on loan tenure: Maximize your yield potential with 30–40-year amortization. Regardless of whether you are 19 or 99, you can qualify for the longest tenure possible. (This is a U.S. government anti-discrimination policy)

No limit on the number of properties owned with maximum LTV financing: We understand building a real estate portfolio requires leverage. Global Mortgage Group’s loan programs allow you to obtain the maximum LTV available regardless of the number of properties owned.

30-year loan program with 10-year fixed interest only: Global Mortgage Group features a 30-year amortization on many of our loans. The 10-year interest-only option is a fantastic way to lock in a long-term fixed rate with the flexibility to keep it for 30-years without seeing any rate adjustment. Rates go up; your payment remains the same. Rates go down; refinance into a lower rate or stay with the comfortable payment you have locked in. It’s that flexible!

Refinance when rates go down: When rates decrease, your Global Mortgage Group loan officer will analyze the lower rate options and present a clear and concise proposal that shows a breakeven point for any costs incurred in the refinance. 

Loan programs in all 50 U.S. states: Our loan programs are available in every city and state. Want to buy a condo on the beach in Waikiki, Hawaii, or refinance a single-family home in Houston, Texas — We have loan programs.

No U.S. credit required: Our loan programs do not require the borrower to have U.S. credit. We’re able to use your home country credit if available. If you don’t have a credit reporting agency in your home country, no problem – speak with one of our U.S. loan officers for an exception. We do it all the time.

U.S. expat loans with no W2 and foreign earned income: Are you a U.S. expat frustrated by the lack of a W2 or dealing with foreign-earned income? These are not problems for Global Mortgage Group. For U.S. expats, we make it as easy as if you were living and working in the U.S. and walking into your local bank. There is no premium in pricing, and it’s truly that easy.

Free pre-approval letters in 72 hours: The first thing we recommend for anyone looking to purchase a property is to get pre-approved. This is for a couple of reasons: 1) You should fully understand and be comfortable with the mortgage loan term and tenure you’re obtaining 2) You will need a pre-approval rate before any offer on U.S. property will be taken seriously. 

There has never been a better time to own U.S. residential real estate as an investment!

In summary, GMG U.S. Rental Coverage Ratio 1.0 offers a groundbreaking solution for both U.S. expats and non-resident investors. By focusing on rental income instead of personal earnings, this program helps people overcome typical mortgage hurdles. With a dedication to clear and accessible mortgage options, Global Mortgage Group remains at the forefront of real estate financing. Secure your path to financial success with GMG U.S. Rental Coverage Ratio 1.0today. Contact us to learn more.

www.gmg.asia

Global Property Investor – U.S. House Prices Forecast to Rise Over 4% in 2024

Global Property Investor - U.S. House

USA

Goldman Sachs predicts U.S. home prices will rise by over 4% in 2024, driven by falling mortgage rates and steady demand. Strong price growth is expected in areas like the Midwest, Northeast (New York, Boston), and parts of California (especially San Diego and San Jose). However, regions like Florida, hit hard by affordability issues and rising insurance costs, are expected to perform worse.

Source: U.S. House Prices Are Forecast to Rise More Than 4 Percent Next Year

U.K.

The U.K. housing market showed signs of bouncing back in August 2024, thanks in large part to a drop in Bank of England interest rates. A RICS survey highlighted that increased demand from buyers is pushing prices upward. Although conditions vary across regions, the overall trend is one of recovery.

Source: U.K. Housing Market Recovered Further in August

Canada

Canada’s housing market is likely to pick up in 2024 thanks to recent interest rate cuts. While the market has cooled, particularly in places like Toronto’s condo scene, prices aren’t expected to rise much in the near term. These rate cuts might make it easier for first-time buyers to enter the market, though affordability will still be tough for many. We may see more competition as borrowing becomes cheaper, but long-term price trends remain unclear, especially with different dynamics in various regions.

Source: Fall housing market could be ripe for 1st-time buyers. Here’s why

Australia

More than a quarter of Australian suburbs, particularly in major cities like Sydney, Melbourne, and Brisbane, have seen property values decline. This trend is largely due to interest rate hikes, which have curbed buyer demand, especially in middle and outer-ring suburbs where affordability is more impacted. Despite strong population growth, the market has cooled, with key suburban areas experiencing price drops, while inner-city areas remain more resilient but still affected.

Source: More Than a Quarter of Australian Suburbs See Value Drop 

Dubai

When considering renting or buying property in Dubai, it's essential to factor in lifestyle needs, market trends, and property types. The choice between apartments and villas, the benefits of off-plan properties, and a careful comparison of prices and amenities are critical to making the right investment. Proper inspections and financial planning are also important.

Source: What to know before renting or buying in Dubai

Singapore

Singapore’s real estate market remains strong, with record-breaking transactions reflecting investor confidence. The sale of an office building on Orchard Road for US$24 million in September 2024 highlights rising interest, particularly in the commercial sector. This sale signals robust foreign and domestic investment interest despite cooling measures introduced in the residential sector.

Source: Singapore’s Record-Setting US$24 Million Office Sale on Orchard Road Signals Investor Interest

Portugal

The Algarve region of Portugal is seeing a surge in demand from wealthy American buyers, driving up property prices. This trend is spurred by Portugal's attractive golden visa program, mild climate, and lifestyle appeal, making it a top destination for foreign investment in luxury homes.

Source: Portugal’s Algarve Housing Market Sees Surge in Wealthy American Buyers

www.gmg.asia

Taxes weaken markets in September + Short EURO / Long U.S. real estate? 

Long U.S. real estate - International Bridge Loans

Expect Market Weakness in September

On September 16th, the U.S. corporate tax deadline hits, along with non-withheld personal taxes due mid-September. September is typically a seasonally weak month in the markets, and with potential tax-related liquidity drains of up to $500M, we can expect some market weakness this month. It is prudent to think long-term during this period and look for value when you see it.

Meanwhile - we can expect a Fed rate cut in September. I personally hope that we see a 75 bps cut; it's clear that the Fed has been slow to react.

Forward indicators have rates declining up to 200bps in 2025!

I like to use www.truflation.com for a real inflation guide. According to their data, inflation is currently under control - whether this sticks, we will have to see.

Is the Euro the next carry-trade?

I participated in a fascinating webinar with Vincent Veluard, Director of Global Macro Strategy at Stone-X, arguing the Euro could be the next carry trade. I have to agree with Vincent on the long-term weakness of the Euro. I just checked and the current borrowing rate in Euro is about 3%.

[Insight] Currently, gross rental yields in many sun-belt and midwest U.S. states are well over 10% per annum. Borrowing Euro at 3% and earning over 10% in USD is an appealing and prudent "carry trade" I am happy to discuss property options that meet these criteria.

New Listings

Newly-constructed multi-family unit in Los Angeles with a 6.8% cap rate!

4 Units x 5 bedrooms + 5 bathrooms + attached garage (total 20 bedrooms!). Approximate Lot Size: 7,499 sq. ft. Year Built: 2024

The property will be delivered with a 5-year master lease with government-assisted transitional housing organization.

Located just 0.2 miles from the University of Southern California's Health Sciences Campus and offers easy commutes to Downtown Los Angeles, Mid-City, and the Westside.

The 2024 construction ensures no deferred maintenance and strong in-place income. The property will be delivered fully occupied through 2024-2029, providing investors with immediate stabilized cash flow greater than 6.8% cap rate on current income.

Projected Monthly Rent: Y1 $23,000; Y2 $23,690; Y3 $24,400; Y4 $25,132; Y5 $25,886

Contact me directly for pricing and financing options.

Hotel101 Investment Opportunity

Hotel101 offers a unique opportunity to invest in 'hotel' rooms as freehold condo titles, along with a share of the gross room revenues—without any expenses or operational and maintenance responsibilities. Positioned as a 3-star hotel with 5-star amenities, they are located in top destinations like Niseko and Madrid. Plus, owners enjoy free nights each year at the hotels!

Watch our recent webinar with Hotel101 to learn more, or contact us here!

www.gmg.asia

Global Property Investor – U.K. House Prices Increased by 4.3% in August

Global Property Investor - Global Mortgage Group

USA

The latest report from ResiClub Analytics uses Zillow’s Market Heat Index to identify U.S. housing markets where buyers or sellers hold the most leverage. A higher score indicates a market favoring sellers, while a lower score favors buyers. Markets where inventory remains tight, and home price growth is elevated, give sellers more power. Meanwhile, areas with increased inventory and softer price growth give buyers the upper hand.

Source: This interactive housing market map shows where sellers—or buyers—have the most power right now

U.K.

U.K. house prices increased by 4.3% in August, the largest annual gain since November 2022, according to Halifax. On a monthly basis, prices rose by 0.3% from July, marking the second consecutive monthly increase. This growth is attributed to renewed market activity following a reduction in the Bank of England’s interest rates. While other market indicators show mixed results, with Nationwide reporting a small drop in prices, the overall trend points to a steady recovery in the housing market.

Source: U.K. house prices post biggest annual gain since late 2022

Canada

Canada’s housing market is shifting towards a healthier balance as rising interest rates slow down the red-hot market seen in recent years. The outlook suggests stabilizing prices and more manageable competition for buyers, with an increased focus on long-term sustainability in the real estate sector.

Source: Canada Housing Market Outlook: A Shift Toward Healthier Territory

Australia

Australian home prices are projected to rise over 6% in 2024, driven by a persistent housing shortage and strong population growth. Despite the highest interest rates in 13 years, the housing market remains resilient, with significant gains seen in cities like Perth, Adelaide, and Brisbane.

Source: Australian Property Market: Values Rise By .5%

Dubai

Dubai’s real estate market saw a remarkable 40.8% year-on-year increase in property sales value in August, totaling AED47.3 billion ($12.88 billion). Apartment sales rose 37.6%, reaching 12,268 transactions valued at AED23.5 billion, while villa sales increased by 4.6% annually. August was the second-best month for sales value this year, following July’s strong performance. Land sales also surged, with 1,396 plots sold for AED15.1 billion, a 153.8% month-on-month increase.

Source: Dubai’s Real Estate Market Sees 40.8 Percent Rise in Sales Value to $13 Billion in August

Singapore

The Singapore property market is seeing a rise in foreign interest, especially in the luxury home sector. In Q2 2023, there was a notable increase in foreign buying, signaling a thawing of the market after recent cooling measures.

Source: Rise in Foreign Buying of Luxury Homes in Singapore in Q2

America Mortgages Weekly

6.8% cap rate multi-unit LA + Don’t wait for interest rates to drop before reading this!

With the Federal Reserve expected to cut interest rates soon, U.S. expats and foreign national investors have a unique chance to invest before property prices rise. Lower rates typically increase buyer competition and property values, so acting now could secure you a great deal.

For more insights, visit: America Mortgages

6.8% cap rate in LA! + Hotel 101 + U.S. Mortgage Rates + Turning home equity into cash

International Mortgage Broker UK

GMG | Investor

[Super rare] Newly-constructed multi-family unit in Los Angeles with a 6.8% cap rate!

4 Units x 5 bedrooms + 5 bathrooms + attached garage (total 20 bedrooms!). Approximate Lot Size: 7,499 sq. ft. Year Built: 2024

The property will be delivered with a 5-year master lease with government-assisted transitional housing organization.

Located just 0.2 miles from the University of Southern California's Health Sciences Campus and offers easy commutes to Downtown Los Angeles, Mid-City, and the Westside.

The 2024 construction ensures no deferred maintenance and strong in-place income. The property will be delivered fully occupied through 2024-2029, providing investors with immediate stabilized cash flow greater than 6.8% cap rate on current income.

Projected Monthly Rent: Y1 $23,000; Y2 $23,690; Y3 $24,400; Y4 $25,132; Y5 $25,886

Contact me directly for detailed pricing and tailored financing options.

Hotel101

Last week, I hosted a webinar with Hotel101, a company offering the opportunity to invest in 'hotel' rooms  in the form of freehold condo titles and a share of the gross room revenues, with NO expenses or operational and maintenance responsibilities.

They are positioned as a 3-star hotel with 5-star amenities in super popular locations such as Niseko and Madrid. Owners also get free nights each year at the hotels! Watch the video to learn more, or contact us here!

U.S. Mortgage Rates

Last week saw the lowest mortgage rates in the past 15 months. The difference in year-on-year mortgage payments (Sep 2023 vs Sep 2024) is about $300 a month or $3,600 a year, all things equal.

The current CHIPS Act is creating many jobs in the U.S., and this gentrification is driving home prices in the Midwest, where chip manufacturers are building their facilities - each responsible for well over 10,000 new jobs. We just met a couple buying homes in a midwest town where Google has their data centres and Intel is building a semiconductor fab - in this popular midwest town, home prices have doubled in the last few years. 

Many of these skilled labourers will need to rent, and this theme is consistent throughout the U.S. It's never been a better time to be a landlord in the U.S. 

Our Foreign National mortgage rates are very low, and you qualify ONLY on rental income, not your personal income; super easy.

Bridging Loans

Using your home equity for cash has been a useful way to generate liquidity when you need it! Our clients use this for tuition, renovations, paying down high-interest debt, or personal investments! We offer these loans in Singapore, the U.S., the U.K., and Australia!

Happy Hunting!

www.gmg.asia

Q&A: Hotel101, a New Investment Opportunity!

Q&A - Bridging Loan Canada

Catherine Chan, Chief Development Officer of Hotel101 Global Pte. Ltd., and Jane Wang, Director of Sales & Strategic Partnerships APAC, along with Donald Klip, Co-founder of Global Mortgage Group, provided valuable insights in this webinar, which highlights the exciting investment opportunities available through Hotel101. The session explored why investing in a hotel unit with Hotel101 is a compelling option and what sets this venture apart in the real estate market. For those who couldn’t attend, the recording is now accessible here.

During the session, Catherine Chan (CC), Jane Wang, and Donald Klip, addressed a variety of inquiries, offering informative responses to help investors make informed decisions about investing in Hotel101.

Remarks have been edited for clarity and brevity.

1. Could you tell me which countries will be next? When will we know?

CC: We have plans to be in 25 countries in the next few years. Specific details or timelines were not disclosed, but if anyone has potential projects or land, they are encouraged to come forward.

2. Can I reserve my own room, or is it always rented out?

CC: Yes, you can reserve your own room, but most owners don’t mind which specific room they get, as they are more focused on being able to use the hotel.

3. Can ownership be under a U.S. LLC, offshore company, or family trust? And can the revenue be sent anywhere globally?

CC: Ownership can be under a U.S. LLC, offshore company, or family trust. However, the speaker advises consulting a lawyer or accountant for tax implications.

4. Must the room be rented out? Is it possible to purchase it for personal use without renting it out at all? 

CC: The room doesn’t have to be rented out, but the cost is nearly double for personal use without renting.

5. How do you decide which units to rent out? Will we be informed? There is a possibility that we might end up with 15% of unoccupied units, right? What happens then?

CC: All units share revenue equally, regardless of how often they are rented. You can choose your unit, but it doesn't affect revenue share.

6. Are there different-sized units available for purchase, or are all units the same size?

CC: All units are standardized at 21 m².

7. Can I select units that are frequently booked, such as those with sea or mountain views?

CC: While you can choose your preferred unit, it doesn't affect revenue share.

8. What is the typical occupancy rate near Hotel101 Madrid?

CC: The occupancy rate is in the high seventies, with peaks up to 95% during events.

9. Does the 30% revenue share apply to room rent revenues only, or does it include hotel revenues like F&B as well?

CC: The revenue share is based only on room rental revenue, not F&B.

10. Can the unit owner sell the unit in the future? Are there any restrictions?

CC: Yes, you can sell the unit with no restrictions, but the company has the right of first refusal.

For more information, get in touch with us today!

www.gmg.asia