HLF eyeing the mega rich

HLF eyeing the mega rich
Dec 11, 2009 - PropertyGuru.com.sg

Buyers looking for a landed home in central Singapore can now grab a special package offered by Hong Leong Finance.

This is the latest marketing move by the company to attract home buyers in the competitive mortgage market.

Hong Leong is targeting those families living in a tiny niche, who can afford to buy good class bungalows costing more than $15 million.

The company is offering a special package that starts from 1.38 percent a year on a variable basis. The variable rate increases to 1.48 percent for the second year and 2.4 percent for the third year.

“With recent renewed interest in the good class bungalow market, it is only natural for Hong Leong Finance to expand its suite of services,” said Hong Leong Finance President, Ian Macdonald.

Such bungalows have a plot size of about 1,400 square metres, and are only located in 39 areas zoned for them.

There are only 2,400 bungalows around the country and it forms a highly exclusive market.

To attract buyers, Hong Leong is offering $1,000 worth of food and beverage vouchers at the Millennium and Copthorne Hotels for a minimum loan of $3 million.

Buyers who would take up more than $10 million loans can get $5,000 worth of vouchers. All customers will also get $500 worth of spa vouchers at the Haach Spa and a 20 percent discount at M Hotel in Singapore.