4 Reasons why 2021 is the best time to buy a property in Malaysia.

For those who love properties and home ownership, there is no other time better than now to get into the market with the current savings and offers in place.

Here are 4 reasons why you should own it now than later.

1. Savings from Home Ownership Campaign (HOC).

To promote home ownership, the Malaysian government has announced that full stamp duty exemption will be given for house purchase price from RM300,001 to RM2.5 million.

With the savings of other transaction costs such as agreement fees, this could save up to RM 20,000. The HOC campaign ends on 31st December 2021.

2. Big Discount from Developer.

To assist in HOC promotion, some property developers are offering up to 10% discount plus adsorbing other costs for their housing project.

Depending on the purchase price, this could mean a minimum saving of RM 30,000.

3. Anticipated High Inflation

Houses traditionally hedge against high inflation.

As the costs of living goes up, so would the cost for construction. The story of our uncle telling us that the house he bought 20 years ago is now worth 2-3 times the price, that’s hedging of inflation working. Plus if the location is good, it could potentially make you more money enough for your retirement.

4. Lowest interest rate in 30 years

We are having the lowest interest rate in 30 years.

1% interest rate saving may not seemed much at first thought, let’s do some simple calculation here and see how much you are saving:

If you have bought a house when the interest rate was 1.5% higher in 2018, a simple calculation based on a RM400,000 house price using home loan calculator, the instalment was RM 1,759, compared to RM 1,436 per month today, saving you RM 323 every month on instalment, and that’s not the only saving you enjoy, the total interest savings total up to a massive RM 135,958 over the 35 year term!

Conclusion:

If you are planning to get a house, this year is the golden time to buy. Plan and save more. The offering has never before so great.

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