Buy a home while it’s still affordable, experts urge Malaysians
Buy a home while it’s still affordable, experts urge Malaysians
The weakening Malaysian ringgit has something to do with it
Malaysians are advised to buy a residential property before it becomes too expensive, according to local property experts.
In a forum organised by The Star, Chur Associates’ founding managing director Chris Tan said it was time to get on the housing ladder, given the good rules protecting consumers, as well as the attractive incentives and financing packages offered to genuine home buyers.
Tax expert Dr Choong Kwai Fatt also agrees that now is an opportune time to purchase a house as the Malaysian ringgit could weaken further.
“If the currency drops in value in future, it will be harder to purchase properties. Therefore, while its still holds good value, it is best to invest right away.”
Another advice he gave to those eyeing home ownership is to purchase from property developers with a good track record.
More: Malaysian GST for commercial sellers and individuals explained
“This is the first assurance of a successful property investment,” he added.
Meanwhile, Mah Sing Group’s sales and marketing director James A. Bruyns believes that there is no good or bad time in making a real estate investment.
“Investing in property is a good way to build up the market sentiment especially when people are still investing, where there are good take-up rates as well as good property products.”
So people keen on buying a property should go ahead, provided they have enough cash, he explained.
In agreement, Tan said it’s best for each individual to jump on the property ladder once they can afford it. Furthermore, property investment is one good method to offset inflation as the market value of a home tends to grow over time, he added.
The original article appeared on PropertyGuru.com.my on 11 May 2016.
Source: Property Report