My friend said the property market is going to crash soon. His friend’s friend said so. The developers said that prices cannot come down and it has to go up due to costs. If that is true why there were so many complaints when DIBS scheme was cancelled by BNM. My agent friends said that transactions are slow these days. Yet, another agent said, cannot be slow because his business continue to be good. Tell me, who is telling the truth? Actually the best would be to feel the market sentiment yourself. That’s why I go to property fairs.
Whenever people said demand is there because there are still so many people in their 30s who has yet to buy a property. Just be at the property fair, look around, do you find a lot of couples, looking like engineers / accountants and scouting for properties? Taking brochures? If there are really quite a number, you do not need to ask, it is true. Do you see developers putting up HUGE banners saying ‘RM18,000 free gifts if you book today?’ Try to google that project, see if it has been selling for the past 12 months. Do you see some developer booth full of people and everyone seemed interested? Go and sit down and listen. Perhaps it might just be the property you want.
I also love to attend free talks, seminars. I love to look at people who sit at those talks. Look at those who are listening. Are they people like you? If yes, then I think the market is still ok. You can also visit the Auction booths. People say ‘auction properties’ very dangerous. Is it true? I have a friend who has bought a few lelong properties and he is still buying. I also have friends who bought in Melaka many years ago from a developer and got their investment burnt until today. If you do your homework well, the risks are reduced. If you buy because your friend told you to buy, I hope you are lucky. Oh yeah, these are the reasons why I love to visit property fairs.
written on 23rd dec 2013.
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