There are sellers (whether owners or developers) who are also taking the pulse of the economy and rising prices, especially when demand is growing. With the Bukit Jelutong condo or a Bukit Jelutong corner house for sale purchase, you will also aid it.
Prices and economy!
This is exactly what happened between 2004 and 2008, when, amid the euphoria generated by Malaysia’s accession to the European Union, revenues increased, banks relaxed lending and, as a result, demand exploded, and prices rose exponentially.
At that time very few imagined that prices could fall. So, given that the financing was affordable, many Malaysians decided to buy for fear that prices would continue to rise. At the same time, many were convinced that things would continue to go well, that incomes would continue to rise and that debt payments would be easy to bear.
What happened, we still remember very well:
The financial crisis led to lower incomes, the payment of installments to the bank became a burden for many borrowers, real estate prices collapsed, so the sale of the house taken over for repaying the loan was no longer an option (the price had fallen below the credit balance).
What should we learn from this experience?
That it is preferable to buy a home during periods when the economy is losing momentum (decelerating), incomes are not growing as fast or stagnating, and supply is sufficient. Then buyers are more prudent (especially because they do not face rising prices overnight), and sellers do not care very much about the price, because they do not have a clear perspective on when the economy could return to growth and, with it, general optimism.
For the Analyst
At this moment, analysts’ estimate that, in Malaysia, the economy is losing speed, and those interested could wait another 2-3 years to buy a home at the best possible price. But, beyond the price, there are other aspects that we must refer to when choosing our home. The first aspect is related to the area, which must be chosen according to accessibility, distance to the office or school or kindergarten or other destinations of interest (traffic being an increasing problem at least in the main cities), but also in depending on preferences (quieter or more crowded area, central or neighborhood, house or apartment).
After delimiting the areas of interest, the research of the offer from the respective areas follows, possibly through a real estate agent (aspect that also implies a commission paid to him, but after he has found the desired house).
For more articles like this, click here.