Over 20,000 units (properties)with attractive discounts in March 2019.

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To buy and wait or to wait and buy? For those who have listened to my talk(s), the answer I gave may no longer be true. Sometimes the answer may not be so direct. Maybe it could be to wait first before buying as per Reported in Edgeprop.my Housing and Local Government (KPKT) Minister Zuraida Kamaruddin announced that the first Home Ownership Expo will showcase over 20,000 units of overhang properties worth RM22.5 billion in March 2019. It will come with attractive discounts or packages for home buyers. This expo will be participated by 180developers nationwide and prospective buyers could expect discounts of AT LEAST 10 percent for the properties. Tentatively, the three-day Home Ownership Expo will be held in March 1 at the Kuala Lumpur Convention Centre.

She added, “Among these properties, 24% are priced below RM400,000 and below. Through this expo, we hope developers could clear some of their overhang properties.” She also urged the banking sector to support the expo by providing end-financing to eligible buyers. The expo will aim at clearing the backlog of unsold residential properties especially those priced between RM300,000 – RM500,000. It is part of the National Home Ownership Campaign. Earlier reports from the National Property Information Centre (Napic) showed that the number of unsold houses in the country reached a record high of 30,115 units in 3Q2018, valued at RM19.54 billion. This is a 48.35% increase from 20,304 units in 3Q2017.

Perhaps it’s okay since many people are saying that they are now extremely busy with Chinese New Year (CNY) preparations and will not have much time in viewing and deciding anyway. So, having an expo 2 weeks after CNY may be a good idea. Yes, I will definitely drop by and write about it. Hopefully someone from KPKT can also send me more information so that I can help them tell more people too. For first-time home buyers, I seriously believe a property is a must-have investment. In fact someone said that it’s best to buy a house first before a car because if we buy a car first, the home loan application may be harder to be approved. Buy a house first and the car loan application still has a higher chance of being approved. Happy enjoying one final weekend of crazy preparing and buying yeah. For non-Chinese, it’s going to be a good holiday ahead.

written on 28 Jan 2019

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