Waiting for cheaper properties? March 2019…

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How often have we heard people telling us that property prices are on the way down? I have been hearing that for a very long time. Well, maybe this upcoming forecast will come true; for new and completed properties. Ministry of Housing and Local Government (KPKT) said that the National Homeownership Campaign, which was revived in Budget 2019 to tackle the high number of unsold homes in the country, will begin March 1 and feature some 30,115 completed homes. It will be unveiled in a three-day launch event in Kuala Lumpur Convention Centre.

KPKT Minister Zuraida Kamaruddin said the campaign will involve 180 developers and banks that will assist buyers with their loan applications. She said, “We are bringing back the homeownership campaign that was held in 1998. It is good to take all the overhang units to be exhibited [at the campaign] and offer them to buyers at a discount.” As for the discount, she said that it will be AT LEAST 10 percent. Among the 30,115 homes that will be showcased will include 1/3 which will be 10,410 units priced below RM300,000, 7,561 units between RM300,000 and RM500,000 while the remaining 12,144 units are priced at RM501,000 and above. If the buyers were to somehow missed the three days, this discount will continue to be made available to buyers for a tentative period of one year after it. Article in EdgeProp.my here.

Okay, everyone who’s waiting for new properties could now really save as much as they could for the next 12-15 months. As for those who already have sufficient downpayment, then the choices continue to include not just the new properties but also the secondary market. Here are reasons for buying new units. I have no favouritism, so here are reasons for secondary properties too. Article here. May even be better if all these properties could be listed somewhere for everyone to browse well in advance too. Happy waiting and buying everyone. Without property, it may well be poverty.

written on 10 Jan 2019

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