My friend: ‘Hey, I just went to your project today and viewed the 1st floor of Block C.’
Chia Lih: Great, are you buying?
My friend: I am still thinking. It’s on top of the TNB room and it’s RM290K.
Chia Lih: If it is unsafe, I don’t think the developer would build a unit there. Can u hear anything below the unit?
My friend: I can’t but I want to consider first. I love your project. So spacious and you have a jungle track within your project, I think this is the only one in Penang.
Chia Lih: If everything is right, I suggest you buy quick because the prices would continue to move upwards especially RM290K is considered not that high.
My friend: Can’t be lar. There are so many units at RM290K.
In the end, my friend lost the unit because one week after that the unit was taken and I asked him what about all the other units he was looking at. He replied sheepishly that none of the units are now below RM350K now. Sorry to say but in property purchase, if the property meets all your requirement, BUY. There’s no such thing as the totally perfect property which meets every single of your requirement. If there are, chances are it’s not yours to buy. The owner would have increased the price or someone would have bought it earlier.
The project was Regency Heights. The prices for Block C & D started at RM209K. My friend missed it because every price is always demand and supply. If a lot of the condo owners want to sell, the prices come down. If however, few units are being chased by many buyers, then the prices would go up. Prices are now very transparent. Just look at http://www.propertyguru.com.my for northern property listings.
This is the same in share market. If you have set a price bracket, as soon as the share hits the price, BUY. If you are greedy and say, perhaps the price may drop further, that’s no longer investment, it’s called gamble. You may WIN but you may lose it all as you may missed the chance to buy when it was nearly the lowest possible.
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will the latest assessment hike affect the condo prices in Malaysia?? How much is the assessment for a condo?
my personal opinion on any assessment hike is, ‘if the property price continue to be low, the assessment would not go up’. If you dont want the condo prices to go up, then yes, the assessment would continue to be low.
1st I advice my clients to buy the Penang heritage zone in 2002 when the banks started to approve loans to such buildings after the rent control act was repealed. Guess what, most of my clients told me that I am mad as many city dwellers moved out of the area hence it created a ghostly town feeling.
Now the property has gone up by more than 600% and my clients turned back and tell me they “should have” & “would have” bla bla bla. Kind of late I think.
Now I advice clients to buy just outside the perimeter of the heritage zone as they are not under the development restriction of heritage buildings. They will hit the jackpot again.
Lim, the ‘should have’ and ‘would have’ will always be around. The same thing was said for newer areas like Relau / Sungai Ara many years ago. My friends even argued with me that Gelugor and Queensbay is much better. I dont think they are wrong but my place has appreciated over 250%. I think I am right too for buying Sungai Ara.