Hi everyone ! Just out of random thoughts, trying to gather everyone opinions if 2021 is a good time to buy property.

Me & my girlfriend are considering to get ourselves a new house in this year.. Having known that a lot developers are kind of desperate now, with the pandemic affecting our entire economy, most of the properties now in the market offer really attractive price packages, rebates & so on..

So, is this a good time to buy ? Or should I pull handbrake first .. ?

Lemme know what you all think

What are your concerns? if you can afford it i dont see why not ? seems got some good deals.. maybe can squeeze even more ?

If for own stay definitely a good time as prices is a little more reasonable and there are lots of choices

There is never a good or bad time if you are buying a property for own stay, just make sure you feel comfortable with the price and location.

wait... property sales will get worse this year.

you can get better deals in the second half.

Just wait, property prices will trend downwards at least for the next 18 months.

Wait for more flippers desperate, then you sapu.

This post has been edited by Ayammachiamboss: Jan 11 2021, 11:35 PM

Was thinking if we could wait a lil bit more , perhaps the price might go down some more if the property market still going slow.

Agreed, wait. Price to rent ratio it too high now, you can easily get better investment elsewhere.

Check out my calcs here:
https://forum.lowyat.net/index.php?showtopi...post&p=99063702

Last time I heard one of the guru in FB said the 18 years property cycle is over, expecting the market to bounce back in 2021. Not sure whether its true, cause the other day I went to NAPIC and check, surprisingly our Malaysia House Price Index (MHPI) has dropped for the very first time.

If you REALLY want to get the best value/lowest price with potentially higher ROI in future, then better to wait

however if it's own stay and you already have funds saves up for down payment, better to continue to shop and keep your eyes and ears open, if you can find a good deal with a location and price that you're comfortable with, just book it when you feel that it's right, even if it's not necessarily economically ideal just be smart about it and get a decent value.

If it's your first property especially it's better to not get too expensive, keep the instalments at 30% of your monthly income. Unless you're loaded with cash there's a strong chance you might upgrade anyway.

bear in mind that you aren't the only one waiting for price to fall, so if your goal is to get a roof over your head and stay there for at least 10 years, might as well get it now.

Funny la these people. Property prices are already unaffordable as it is today. If this is a bounce back then it surely is a syiok sendiri one. I doubt property prices will ever get back to the 2016 highs.

If the project is below market value then can buy la. I see many projects and subsale still selling at inflated prices from years ago

This post has been edited by Babizz: Jan 12 2021, 07:20 AM

One more thing to add:

Consider your age also, because when you take MLTA/MRTA (which you really should especially since you're starting a family), each year added to your age will cause the premiums to increase, and after certain milestones for men especially they'll sharply increase the premium. If you can afford buy house early.

This post has been edited by DragonReine: Jan 12 2021, 08:19 AM

Guru make money out of your purchase, confirm say good

As long as the Covid-19 is still here, the property prices will remain stagnant and slightly dropped.

A lot of subsales dropping their prices but developers' project remain high price due to demand. Can see people rather buy developer units because of new, low or no down payment or in conjunction with HOC 2020.

When all these happened, it's time to buy instead of sell. But so many uncertainty, just wait and see.

Buying together with GF/BF is never a good choice. Not to jinx or anything but its never a good option in the event things happen down the road.

new projects price are still high i doubt it will go down.
in my area double stories 700k above are selling like pisang goreng panas. so many rich people over here.

I feel for own stay or BMV or lelong or whatever it is, just hold back your purchase...the odd for price going downside is super large than going up or even stagnant. Just wait and see the situation. Darurat time...

Lelong unit can be cheaper. But you must prepare cash flow at least 20% on hand from property price.
Example 10% downpayment, 5% for legal fee, stamp duty, MOT and etc. 5% for revaluation fee, agent fee or renovation fee or utilities bill etc.
If you are ready and property price below market value should go ahead to buy. I really doubt how much property price will slash down or lowest with material cost & labour charge keep increasing year by year.

This post has been edited by Erictan1981: Jan 12 2021, 05:46 PM

Big no no with gf, later break up you will cry