24 December, 2019

Property Guides

Should I Get A New Property During or After Launch?

The real estate scene in Malaysia has been going through a cooling-off period for some time now. That doesn’t necessarily mean people are putting off their property purchases. These days, buyers are spoilt for choice with a plethora of value-added furnishings and fittings as bonuses and are even enticed with buffet spreads and carnival-like festivities when it comes to a new property launch.

So how do you decide if you should get a new property during the launch or wait it out to see if the take-up rate is high?

Questions to ask yourself

Before making a move, it may be worth backing-up a few notches in your thought process and consider these reasons for your property purchase:

  • Do you intend to reside in the property or is it for investing purposes?
  • Have you taken into account if the location suits your needs?
  • If staying, what is your daily commute going to be like?
  • If you intend to rent it out, do you know what the current rental prices in that area are?
  • What is the level of occupancy of surrounding units in the area?
  • Would you be able to afford the monthly instalments and maintenance costs?
  • Is getting a larger or smaller unit more ideal?
  • Who will manage the property once it’s completed/rented out?

Public perception of new property launches in Malaysia

If you’re hesitating because you’ve heard that there is a property glut or oversupply, and you’re afraid that a project may run the risk of non-completion and project abandonment, the first thing to check is the developer’s reputation and history of delivery.

You may be more assured if you choose a reputable developer with a clean record of delivering quality units in a timely manner.

Home-ownership in Malaysia is still popular and this is evident in the numbers released by the National Property Information Centre (NAPIC). The Malaysia House Pricing Index (MHPI) still rose (albeit at a slower rate) from 193.1 in Q2 2018 to 194.8 in Q2 2019 with average price (all house categories) rising from RM417k to RM420k. Hence, if you’re waiting for prices to come down, especially if it is for terrace or high-rise residential units, you may be disappointed.

Source: NAPIC 

Verdict

Anytime is the best time to buy a property as long as you understand what you want and what you are getting yourself into!

Sources: 

http://napic.jpph.gov.my/

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Admiral (R) Tan Sri Dato' Seri Abu Bakar Bin Abdul Jamal

Chairman/Independent Non-Executive Director

NATIONALITY: Malaysian

DATE OF APPOINTMENT: 1 August 2023

ACADEMIC / PROFESSIONAL QUALIFICATION(S)

Admiral (R) Tan Sri Dato’ Seri Abu Bakar Bin Abdul Jamal was the 10th Chief and the first four-star Admiral of the Royal Malaysian Navy. Admiral (R) Tan Sri Abu Bakar served the Royal Malaysian Navy for almost 40 years both at the staff and command levels culminating in the highest office of The Chief of Navy from 1998 to 2002.

Admiral (R) Tan Sri Abu Bakar was the former Chairman of Affin Fund Management Berhad and also the former Chairman of several companies covering diverse industries post his retirement including naval and marine, property development, construction and automative. He was also a former Board member of Lembaga Tabung Angkatan Tentera (Armed Forces Fund Board).

In recognition of his services not only to Malaysia but also towards promoting international and regional understanding and peace, Admiral (R) Tan Sri Abu Bakar was bestowed the Panglima Setia Mahkota award carrying the title Tan Sri. In addition, he also received international recognition in the form of the following awards:

  1. Bintang Jalasena Utama by Indonesian President Abdul Rahman Wahid on 28 August 2000
  2. Legion of Merit by United States President Bill Clinton on 6 October 2000
  3. Knight Grand Cross of the Most Noble Order of the Kingdom of Thailand by His Majesty King Bhumibol Adulyadej R on 24 February BE2544 (Gregorian 2001)
  4. Legion d’ Honneur by President of France, Jacques Chirac on 17 June 2001

There is no family relationship between him and any director and/or major shareholder of the Company.