If you are property investor what is your next move?
Hi all, this is Freeman Woo, property negotiator (aka Property Agent) in Malaysia mainly focus in Mont Kiara. Today I write this is want to record down what investor planning now during this Covid-19 pandemic moment. Market slow? FEAR, SELL FAST, PANIC, WAIT TO BUY AFTER MOTORIUM or what??!! For myself I think as an agent the most valuable resources we have is the first hand news, knowing what is the real time movement in the market because we will talk, meet with a lot a lot of house owners, tenants, buyers and investors, witness all transactions. So what happening now? A lot of buyers sourcing good deal property. Seller consolidate their property portfolio.... 2018 - 2019, a lot of unsold developer unit, but HOC campaign 10% discount and waive MOT attract a lot of first time home buyers. 18th March 2020 MCO
1st April 2020 Bank 6 Months Moratorium
1. Drop in OPR
2. Individuals who are citizens of Malaysia will be eligible for RPGT exemption on the disposal of residential properties during the period from 1 June 2020 to 31 December 2021 (“exemption period”). The exemption is limited to the disposal of 3 residential properties per individual. 3. HOC Campaign extention
The HOC this time around carries the same set of benefits as previously, notably:
Stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to RM2.5 million (subject to at least 10% discount provided by the developer).
The exemption on the instrument of transfer is limited to the first RM1 million of the property price, while full stamp duty exemption is given on loan agreement effective for Sales and Purchase Agreements (SPA) signed between 1st June 2020 to 31st May 2021.
So if you are property investor what is your next move?
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