With news of the collapse of the residential properties in US, many had expected the same will happen to klang valley properties. There is a slight down turn but the residential price is holding. There was talk among the circles that the year 2012 will witness a tumble in the property prices, but nothing like it is happening.
As a mean to control the price, the Central Bank had tightened the banks landing guidelines. As a direct result, the loans applications and loan approvals had fallen in January 2012. You may be able see the rental and prices of properties in some areas are easing off.
In the effort to entice buyers, the developers are coming up with a number of "offers", such as...
a. low down payment. The normal down payment is 10% of the price. Now it is being reduced to only 1%. The following figures will demonstrate the different, for a property costing rm500,000; the 10% down payment is rm50,000. For 1% down payment, it is a low as rm5000.
b. Waiver of stamp duty and sales agreement fees. This can work out to about rm10,000. The stamp duty is the tax paid to the federal government and can be about 1% of the cost of sale.
Tracking the launched properties, it was noted that the majority of properties were condo units. The number of landed properties are rare indeed. Basically the developers calculated the return of investment for a given piece of land. The return is higher for high rise properties which can include services and facilities.
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