News About secondary market
PETALING JAYA (Feb 19): As property prices increasingly escalate beyond the reach of many would-be homebuyers — as corroborated by Bank Negara Malaysia’s (BNM) latest quarterly bulletin — some experts have advised them to turn their sights to the secondary market, where homes in Kuala Lumpur priced up to RM200,000 are still available.
Looking for a home on the secondary market that is affordably priced, in a good location and NOT a shoebox unit?
IF you are looking for a ready, more secure and less speculative type of property, you would probably look at the secondary market first rather than those that are still under construction offered by housing developers. While the costs of entry are higher in the secondary market compared to buying from housing developers (for a start, immediate payment of stamp duty on transaction rather than issuance of the title later), the legal documents and processes are different as well.
THE Malaysian property market has gone through a difficult patch and while no one can predict the future accurately, 2017 is not expected to be rosy either. Thus, it is imperative that decisions are made based on due diligence and careful study of the property market, say local property experts. But as the saying goes, every cloud has a silver lining. Find out what the real estate industry has to say about the year that has passed and what areas investors and homebuyers need to look at this year.
But moving forward, it will not be easy for aspiring property developers. Considering the homebuyer-friendly housing development regime in this country, only those who are cash rich and committed to the industry in the long run would be able to make it. It is good that the government is committed to protecting homebuyers, especially in ensuring that those who are qualified could own their first homes. From preventing abandoned projects to the “build-then-sell” concept and the focus on affordable housing policies over the last few years, the government is doing much to ensure we all have a roof over our heads as Malaysia edges closer to the much-desired developed nation status.
PETALING JAYA (Aug 30): The real estate market outlook for Penang till the end of this year seems rather uncertain due to weak market sentiments in both the primary and secondary markets. This is expected to lead to poorer performance this year, according to Henry Butcher Malaysia (Penang) Sdn Bhd.
CONGRATULATIONS! So you have finally sealed the deal on your new home. Now, how much should you spend on renovations before moving in?