\nNew beats second-hand for Malaysian homebuyers<\/p>\n
Despite the ample supply of homes on the secondary market, up to 36 percent of Malaysians have been revealed to prefer to buy a new home rather than buy from the secondary market. This was revealed in a recent study by PropertyGuru.com,\u00a0Asia\u2019s leading property site for property listings and marketing intelligence.
New beats second-hand for Malaysian homebuyers Despite the ample supply of homes on the secondary...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11144","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2TK","jetpack-related-posts":[{"id":10222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-in-4-wealthy-malaysians-interested-in-buying-overseas-property\/","url_meta":{"origin":11144,"position":0},"title":"3 in 4 wealthy Malaysians interested in buying overseas property","date":"April 8, 2016","format":false,"excerpt":"\r Offshore real estate it is Private properties in Singapore Many wealthy Malaysians are keen to purchase an overseas property in the second semester of 2015, with Australia, Singapore, Indonesia and the United Kingdom being the top four investment destinations, according to a study by PropertyGuru. Despite the softer ringgit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8128,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/theres-no-doubt-malaysians-still-love-investing-in-real-estate\/","url_meta":{"origin":11144,"position":1},"title":"There\u2019s no doubt \u2013 Malaysians still love investing in real estate","date":"March 16, 2016","format":false,"excerpt":"\r \u201cProperty has consistently outperformed many other asset classes in Malaysia\u201d Kuala Lumpur (Image credit: Traveltamed.com) Despite a massive drop in real estate investments in Malaysia, it has been revealed that investors in the country still prefer to put their money in the property sector. \u201cYear after year, Malaysians continue\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singaporean-homes-still-a-hit-among-chinese-buyers\/","url_meta":{"origin":11144,"position":2},"title":"Singaporean homes still a hit among Chinese buyers","date":"March 21, 2016","format":false,"excerpt":"\r Things might have slowed down a bit, but overall it\u2019s better than 2008 Mainland Chinese and Malaysian buyers formed 54 percent of foreign home purchases in 2015 Despite facing weaker currencies and slowing economies, mainland Chinese and Malaysians remain the top foreign buyers of Singapore property, revealed DTZ. Together,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-foreigners-buying-homes-in-singapore\/","url_meta":{"origin":11144,"position":3},"title":"More foreigners buying homes in Singapore","date":"November 30, 2016","format":false,"excerpt":"\r JLL recorded an increase in foreigners buying private homes in Singapore. Singapore\u2019s private residential market attracted even more foreign buyers during the first nine months of this year (9M 2016), according to the latest report from property consultancy JLL. In 9M 2016, foreigners \u2014 excluding PRs (permanent residents) \u2014\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35628,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-developers-turn-to-foreign-investors\/","url_meta":{"origin":11144,"position":4},"title":"Malaysian developers turn to foreign investors","date":"November 24, 2016","format":false,"excerpt":"\r The big woo-athon for overseas buyers begins A weak ringgit, growing oversupply and slow local sales saw developers courting foreign buyers, sending their agents to road shows abroad to promote their projects. And with China as their biggest market, some agents travel to different Chinese cities on a monthly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-acquisitions-by-foreigners-drop-26-1-in-q1-2020\/","url_meta":{"origin":11144,"position":5},"title":"Private home acquisitions by foreigners drop 26.1% in Q1 2020","date":"June 5, 2020","format":false,"excerpt":"\r In terms of absolute transaction volume, buyers of all residential status have declined, but the biggest drop came from foreign home buyers (non-PRs) which fell by 26.1% to 215 units in Q1 2020. Singapore saw private homes sales drop by 14.4% quarter-on-quarter to 4,174 units in Q1 2020\u00a0\u2013 the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11144"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=11144"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11144\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=11144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=11144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=11144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe PropertyGuru Malaysia Property Market Sentiment Survey Report showed that a large segment of potential home owners would still prefer a\u00a0new home\u00a0as their first choice compared to 17 percent who would look to the secondary market as their choice. One in two buyers will continue to visit developers\u2019 showrooms rather than go through real estate agents.
\nWhilst there are plenty of good deals in the secondary market, potential buyers have cited a slew of compelling factors that speak in favour of buying a new home.\u00a0One of the key reasons cited include attractive sales packages from property developers, especially for middle income or younger buyers who may not have plenty of capital or savings to cover initial purchase costs such as the 10 percent downpayment, legal fees, moving costs and other fees.
\nMore: 3 out of 4 Malaysians would like buy overseas residences
\n\u201cAs mentioned before, many Malaysians especially from the middle-income mass segment are in the perfect storm of unaffordable house prices, lack of savings for a downpayment and the inability to secure a loan. Many buyers aged 35 and below will find sales packages by developers attractive, as these are structured to reduce initial upfront costs and allow them to become homeowners. Factor in other incentives such as free home appliances, fixtures and so on and the total offering becomes very attractive,\u201d explained PropertyGuru Malaysia\u2019s\u00a0country manager Sheldon Fernandez.
\nAccording to the survey, most Malaysians (47 percent of survey respondents)\u00a0opt for 90 percent home financing, while 12 percent managed to secure 100 percent home loans. About a quarter of\u00a0property buyers accepted home financing of 70-80 percent.
\nThe survey also touched on other factors highlighted by buyers. These included fewer problems with bank valuations when applying for financing, less worries about maintenance issues and the simpler process of dealing with one party rather than having to engage real estate agents or even haggle with sellers.
\nMore: New rules eyed for the serviced apartment sector in Malaysia
\n\u201cThere is often a nagging concern of whether I have negotiated the right pricing, especially when it\u2019s your first time. Is there something that the owner and agent are not telling me? The learning curve can be high with a good chance for mistakes to happen,\u201d added Fernandez.
\nWhile purchasing a new home may look like the hassle-free solution to home ownership, buyers are still advised to conduct their due diligence, which includes research and comparing different products in the same area including price per sqft and other factors. These information may be available from\u00a0independent third\u00a0party sources such as\u00a0PropertyGuru\u2019s New Project Reviews\u00a0section aimed at consumers.
\nThe full story was originally published by PropertyGuru.com.my on 20 April 2016.
\n
\nSource : property-report.com
\nRead more…Survey says\u2026 Malaysians still prefer new homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"