The past decade has witnessed an upward trend in property prices. However, the past two years have taken a halt in the trend due to oversupply and added pressure to keep the prices down caused by the pandemic. Owning a property involves a long time commitment which will affect one financial situation. Much thought is put into it before an individual decides to purchase their first home or even their next one. With the declining market price, multiple campaigns and incentives, is it the right time to purchase? Even if it is for investment purposes, with the uncertainties due to the pandemic, what is the right choice?
The Home Ownership Campaign (HOC) was reintroduced in 2020 by the Government as an initiative of stimulating the property market and providing financial relief to homeowners. The joint effort between the Housing and Local Government Ministry (KPKT) and Real Estate and Housing Developers’ Association (REHDA) Malaysia aims to help first-time homeowners. Even so, the campaign is open to all Malaysians with no limit on the number of purchases.
There are pros and cons to this campaign. Other than the stamp duty exemption and 10% discount on the price, the Overnight Policy Rate (OPR) is also at its lowest. Do keep in mind, these benefits are only applicable towards newly launched projects and not applicable towards commercial units. Competitive pricing, location, accessibility and safety are among the factors that will influence buyers in making a purchase.
With the implementation of the multiple Movement Control Orders (MCO) in the past years during the pandemic, data have shown that Malaysians are more interested in spacious properties outside of the dense city areas. Landed units with competitive prices have shown higher demands compared to high-rise buildings.
LBS Bina offers you affordable options to choose from. Terraced houses, townhouses and even serviced apartments. With prices as low as RM250,000 for a unit at KITA Ria serviced apartments, the property offers you a cosy apartment for a close-knit community. This guarded apartment is located in the KITA @ Cybersouth township located within the developing Southern Klang Valley.
Easily accessible via major highways including the Putrajaya-Cyberjaya Expressway through Elite Highway, Maju Expressway (MEX), South Klang Valley Expressway (SKVE), North-South Expressway (NSE), Damansara-Puchong Highway (LDP), and Jalan Dengkil-Banting. Strategically located between Putrajaya and Cyberjaya, KITA @ Cybersouth is close to various key public amenities, such as commercial hubs, financial institutions, governmental administration centre, international airport, healthcare providers, and many others.
With all the enticing offers in the market, isn’t it the right time for you to make your purchase?