A parking space in Melbourne can cost RM142,000, significantly cheaper than Hong Kong’s RM296,000 for less desirable locations. The investment offers a return on investment (ROI) of 9.23 percent annually, with potential rental income. Malaysia currently lacks similar parking space investment opportunities, typically included with high-rise units.
However, we do not need that much of money to enable the next generation and the next and well, next, next and maybe another 350 generations??!! The below shows how a Hong Kong property tycoon thinks well ahead to ensure the wealth in the family is preserved for hundreds of generations to come. Do read and understand how this clever man left his fortune to the next generation.
I would love for foreigners to appreciate our property market enough that they actually chose to buy properties here. However, I would not want the property market to be so attractive that the buying becomes rampant or over double digits in some countries. When someone super wealthy buys a property in another country, chances are, they will be willing to pay more and this will inevitably lead to higher property prices if every transaction is showing an increase in price. So, which are the countries buying a lot of Malaysian properties? Is it C, I and S? Haha. Read on:
When it comes to trading between nations, it is important for the currency to be stable. Else, it is so hard to price the goods and one party could lose when the currency exchange is very different from the time or ordering to the time of delivery. This is why every country strives to ensure its currency is stable. This is also why most trades would use the same currency and typically it’s the US$.
Brazil will reach peak population by 2042 while India will reach peak population in 2061 at 1.7 billion. By the year 2100, the population numbers for these countries will actually be lower than 2025. China for example will have just 633 million population! This will be less than half that of India. It is 1.5B (India) and 1.4B (China) today.
People ask me what is happening to the local property market. Beyond just our property transaction numbers (which is high and rising), I tell them to look at what’s happening overseas for their reference. If all the advanced property markets are now showing that no one wants to buy a property, then that would also be happening in Malaysia in the near future. If you know of such markets, please do let me know too. I would like to read more as well.
Sometimes, you (as in governments all over the world who wants to grow the economy) just have to keep thinking of new ways to attract investors who has not yet considered your market or someone who loves your global financial hub status but has yet to decide or just someone who had always wanted to invest but just did not have the opportunity to do so yet.
Do you feel that the property price is already too high? Double storey landed terrace homes starting from close to RM1 million? Must be a joke inside a dream, maybe? Well, in some areas, this same property is now RM1.6 million or higher. Surely only the landed properties can be at this price?
This is not a question for individual sellers but also developers. As an individual, I would not even sell my property for less than the amount I paid. That’s the reason why when we look at transaction prices, it is more likely to show a moving up trend and not a moving down trend. Except for the financial crisis days, those days, everyone is trying to outdo everyone else in selling lower. Except for those who could hold, then nothing happens and after that price bounced back up.
In a property market where both property price and rental is high, a good option may be to buy a unit to ensure some parts of the money we pay every month belongs to us instead of all 100 percent going to the home owner. A good option does not mean everyone would do it because sometimes, when the rental is just not high enough (because there are many desperate condo owners) or that property price is still reachable (so I can wait first lah), then people will rent lah.
I do not believe any home owner would sell the property lower than the price they bought UNLESS it’s due to some special circumstances. For example, maybe they are leaving the country, maybe they need the money to pay debts, maybe they need the money for sudden emergency but no one will be willing to sell at a lower price than their purchase price. Chinese would say, ‘lose face leh, if sell lower than the price I bought.”
Do you know how do international auction houses earn their fee? They earn a fee called premium fee which the buyer will pay on top of the successful auction price. This premium fee could be substantial. Searching online, I found an article in theartnewspaper.com
“As of 20 May, buyers at Sotheby’s will pay a 20% premium on any hammer price up to $6m, plus 10% on any portion of the hammer price above that amount. The company’s contentious 1% “overhead premium” will be scrapped.”