Karnival Jom Beli Rumah
REHDA's Home Ownership Campaign
Together with the Ministry of Housing & Local Government, REHDA is organising a homeownership campaign ("Karnival Jom Beli Rumah) later this month. Maybe I should fly down to cover the event and pose some pertinent questions to property developers like whether they think “ is it really the time to buy high end KL property? and what are they going to do about the Triple Whammy on property development margins in 2023? (“Are you a property Bull or Bear?”)
In a previous post at 360 KLCC I asked if first time home buyers (FTHBs) should buy New Project properties (what I think the developers with booths at the Carnival are selling) or perhaps they should buy sub sale properties instead. I looked at the pros and cons of buying sub sale properties.
Auction properties are looking attractive now. FTHBs might want to consider buying auction properties if prices are 30-50% off market valuation. How do you find out Current Market Valuations (CMVs) for any property? Check out my property blog post, “Six things FTHBs should look at before buying a property”
Lackluster demand for KL high end properties has resulted in no bidders turning up at 2nd, 3rd and even 4th auctions for some 5* KLCC condominiums. As a result, some freehold 5* KLCC condominiums are ending up on the auction block for as low as RM569 PSF. Now I think that's a lot cheaper on a PSF basis than some leasehold mass market apartments at PJ Section 13.
A selection of my posts at 360 KLCC:
"Is a bird in the bush worth 6 in the hand?
Will Malaysia be affected as a result?
Will inflation spike up if Putrajaya removes petrol and food (cooking oil, chicken etc) subsidies next year?
Will Bank Negara Malaysia have to increase interest rates by 1% or more to tame inflation next year?
For Insights, Analysis & Perspective on the KL high end property market, read 360 KLCC.
#auctionproperty #klccproperty #rehda #realestateagents #propertyinvestment
