A year ago, I wrote an article about how ‘experts’ are not telling the truth when they said everything is now unaffordable. In fact using the average property prices are definitely not accurate as well. Read here: Experts said, ‘affordable properties’ NO MORE (nonsense) Let’s say you are working in KL and needs place to stay. All your friends and majority of every report tells you that you better buy as soon as possible as the affordable ones would be gone soon. You are worried yet when you look at the new launches, those available are either priced too high or just too small for your liking. I define too small as those small units of less than 500 sq ft. These units would mostly have just one room and these days, there are even the sub 400 sq ft ones.
So, if you REALLY need an affordable place and does not want to wait, do you really still have a choice? Clearly, secondary should be a serious consideration. To be very direct, understand that these units are definitely not looking the best. They would also be in areas which are most probably not a hotspot. Many times, your favourite malls are also not next to them. However, you have three things in your favour. Affordability when compared to the new launches. Get to stay quickly instead of waiting for many more years for new ones to complete. Start enjoying potential appreciation or at least start gaining instead of losing when you rent.
Take a look at some options available that I found in property guru.com.my just for you. Note, I am not an agent and I gain nothing whether you buy these or start to search for more in the few major property portals today. Truth is, choices are aplenty even today. One reason why these properties are still affordable is only because many did not consider them. Would they be affordable forever? I have no idea. However, even if we base the price increase on just 2%, that’s still RM6,000 up every 12 months for a RM300,000 home. I have not known of any friend whose company paid them RM6,000 in salary increments yet. Happy working, buying and progressing in your property investment journey.
written on 16 Dec 2015
Next suggested article: KL average property price down, now at RM714,000