Limited Units for many months, do not rush, buy objectively

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Have you been observing the properties in the market for the past few months? Past year? Have you seen some advertisements which said ‘limited units’? Or ‘Final 40 units’? These days, irregardless of the project that you see being advertised, just do one thing extra, go online and search for it. You will most probably learnt of the time that the developer was first launched. Many times, you will see that the project would have been in the market for some time. Maybe even over one year. For these ‘limited units’, my suggestion is for you to call and ask for special deals. For example, a special one time discount. If their answer is none, then you may want to forget about this project and move on.

Still remember long time ago when your parents were buying properties? At that time, even the number of developers were not as many as today. Today, every week there is a launching. Question is only whether the launching is near where you want or is it further away. Thus, do not worry too much about missing out on a certain property. Don’t believe me? Look at the launches from bigger developers or even the more established ones. Do they rely on just leaflets these days? Sell to the neighbourhood? I can see billboards about Cyberjaya properties in Damansara. There are three major property portals in Malaysia and lots of other Facebook pages loaded with new launches every other day. In fact, if you were to refer to PTLM, I dare to say, it’s every day that I see a new launching.

Dear developers, understand objectively about all these transparency in the market today. There is no point in trying to ‘cheat’ buyers by saying that your pricing is attractive if it is just not attractive. Chances are, buyers would have already know all the prices of all the projects surrounding yours. Please also do not just use the amazing traditional media; newspapers. If you use only newspapers or launching a new property without even a simple and proper website detailing what the project is about? I would wish you all the best.

Dear buyers, there is actually no need to rush. For primary properties, new launches today, especially for developers who really have done sufficient market research meant that the prices offered would be very competitive. Launching at over RM700 psf today, whether it is in any of the usual major markets meant that you better be ready to do lots of explaining. Unless of course the project is in a very prime location (there’s less of these nowadays) and happen to be landed, otherwise, take a little bit more time in considering. The ‘rush hour’ 5 years ago are not the case today. 5 years ago, I lost out in purchasing one unit due to minutes. 3 years ago, my friend lost out in purchasing a unit because of 15 seconds!

written on 6 Sept 2014

Next suggested article:   Condo transactions slow down and possible price correction

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