PETALING JAYA (April 10): Property buyers have strong bargain power now more than ever as more property owners may be wanting to let go of their units quickly in light of the current market environment.

“Economy is bad now, some owners are worried about cash flow, hence they are adjusting selling prices. We have seen such sellers in the market now,” said co-founder of Kith and Kin Realty Freeman Woo during EdgeProp.my’s Facebook Live Fireside Chat on Undervalued Properties: Opportunities. Or Risk? held today.

For example, he said that some properties at good locations such as Mont Kiara and Damansara Perdana are now selling at prices lower than banks’ valuations. “These locations have convenient accessibility and are completed with various amenities,” he said.

He added that the market has turned into a “100% buyers’ market” especially with the ongoing Covid-19 pandemic putting a halt to businesses. 

Nevertheless, he reminded buyers to also consider the risk in buying in the current market and to ultimately ask themselves the reason and purpose that they are buying.

“We buy a house for a purpose, we do not buy just because the price is low, this we need to always remember,” he said, adding that it will be a good opportunity to buy if you can find a property that suits your purpose, be it for investment or for your own stay.

"Go back to the fundamentals, including examining you own financial situation and doing research," he said.

The first webinar by EdgeProp.my has received more than 10,000 views with many posing questions which were answered live by the guest experts during the event.

Stay safe at home and shop for good bargains at home with EdgeProp.my, click here for more undervalued property listings.

For the full report on the Fireside Chat read the April 17, 2020 issue of Edgeprop.my pullout.

#belowmarket #epfiresidechat

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