I was on duty in my previous company in a property show in Singapore. It was early morning, even before 930am and the show does not start until 10am. Yet, there were already a few Singaporean investors arriving early. They also try to listen to each and every seminar throughout the day and loves to ask questions if they are unclear. As they enter, we ask them about the properties that they were interested in to guide them to the right rooms. They also ask us questions.
What do Singaporean buyers ask first when they buy Penang properties? Prices? Location? Seaview? Actually, they ask all these questions but beyond that, the first question they always almost ask is, ‘Who is the developer? What other projects have they built? Is it a famous developer?’. Actually, if you think carefully, this is a very important question, especially if you are buying a place in another country. You may have a very attractive price which is 2.5 times lower to start off with. The location may be right smack by the beach with an amazing seaview from 10th floor onwards. You gladly pay the deposit and suddenly, the project did not start on time. Worst still, the project is delayed for many years!
These days, not many developers take your money and run away in Malaysia. This is because even the loans etc is released as and when they complete the different stages. Thus, it makes little sense for them to just take your deposit and run away. Nevertheless, you can see many projects are delayed. Some developers are well known to cut some corners here and there. 🙂 Don’t ask me who. Ask your reliable agent and they would be able to point out to you. Therefore, as a buyer, we should also be like the Singaporeans. ‘Kiasu’ and ‘Kiasi’ may be a good trait for property buyers, especially first timers.
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