The usage of Malay language isnt very important unless dealing with management, government and maintenance guy. Best to get a local agent to help you with your property. I know it is a hassle, but nothing worth having comes easy.
The Edge Top Property Developers Awards 2010
No. 1 – S P Setia Bhd
No. 2 – Sime Darby Property
No. 3 – Sunway City Bhd (SunCity)
No. 4 – Sunrise Bhd
No. 5 – IGB Corp Bhd
No. 6 – IOI Properties Bhd
No. 7 – I&P Group Sdn Bhd
No. 8 – Bandar Raya Developments Bhd (BRDB)
No. 9 – Mah Sing Group Bhd
No. 10 – IJM Land
Many Singaporean investors skewed towards buying from developer, a few investor contacted me and joined my investor club but only keen to buy from developer. I personally prefer subsale so that I dont have to service loan during the construction period. Then again, a lot developer also came up with DIBS (developer interest bearing scheme) to attract buyer, but no longer the case in recent years due to economy picks up.
I should elaborate more on why unoccupancy rate isnt my concern.First, there is about 6 million of people working in KL, Msia economy is pretty much driven internally, depending on local talent rather than foreign. We import whole lot of lower level foreign talent but not much of professionals. Hence, during economic downturn, despite locals getting retrenched, they still need a roof over their head and they dont leave the country. You may ask, why didnt the local buy the house instead? Well, either they cant afford a place nearer to KL or they are from other state. Msia has 12 states, and KL being the economy hub, it became a great attraction.
Secondly, jam is a huge problem in KL, no thanks to our Government trying to promote our national Proton cars. Hence, many working class prefer to stay nearer to their work place, KL or Damansara.
Better living, due to our inefficiency, there are a lot of ways to make money in Msia, especially in business. Form a company with a bumiputera, bid for a government job, very likely you will be awarded a contract if you have connection with the right people. Improved standard of living calls for guarded/gated residential area. High end condo being the target of deep pocket Msian.
I am still very much a newbie in property investment. I know a lot singaporean got burnt trying out Msian property but partly cause they were on their own without a reliable team of Msian ppl. You need to have someone with the local knowledge on your team.
(25-06-2011, 10:26 AM)Musicwhiz Wrote: Hi Chess_Gal,
Just curious and interested to find out from you - assuming a major property slump/crash occurs in China, Hong Kong and Singapore, do you think it would affect Malaysian property as well?
Another question too - what is the average interest rate on home loans granted by banks for Malaysian property? I understand the major banks in Malaysia include Malayan Banking Berhad and RHB Bank.
Thanks!
During the financial crisis 2009, Msia property didnt slump as much as China, HK & Singapore. Msia economy is very much sustainable by its local economy. I can be wrong as I am not an economist. But as I was monitoring the market back then, property prices didnt drop as much as in 1997. Secondly, mostly property investor in Msia are Msian (as far as I know) and they do have high holding power.
The Msia BLR rate is 6.6% but banks usually offer up to -2.0%. Means BLR-2.0%, makes it to about 4.6%. The higher your loan amount, the higher would be the discount.