Get help investing in Iskandar properties

The next time you’re thinking about investing in properties in Malaysia, don’t just sit there and surf the net and wonder about all the possibilities from the couch. Property developers are increasingly aware of the growing interest in Malaysian properties, especially those in Iskandar Malaysia, and are organizing regular trips to allow potential investors a more in-depth peek into the workings and actual environment of the properties just across the border.

Meridin Suites in Malaysia.

Meridin Suites in Malaysia.

Ascendent Assets, for example, offers weekend training courses which provides the participant with tips and tricks about investing in Malaysian properties. There is quite a lot of know as the rules and regulations change quickly and new updates are always available. And unlike investing in a property close to home, foreign property purchases have a bigger risk factor, which can be cut down by finding out all you can before putting your hard-earned money into the pot. One of the pluses about this course is the meeting of Iskandar Regional Development Authority officials and the ability to visit and inspect the actual sites. Getty Goh, Ascendent Assets’ Director advises investors against leaping into the deep end with the idea that the property market in Malaysia is as fertile as in Singapore.

Malaysian property developer, Mah Sing, holds similar weekend excursions and is experienced with buyers interested in their Medini-based development, The Meridin @ Medini. Most of them are drawn to the urban-style living which comes with the corresponding convenience of hotels, shops and hospitals nearby, but increasingly the development of EduCity which will feature international universities have also proven to be a strong pull factor.

Developers also provide an option for experienced investors who are familiar with foreign property purchases but may be shopping around for the best deals. Property clubs, usually run by real estate agents, allow a group of like-minded individuals to get together and explore different markets and network with relevant individuals in the Malaysian market.

So there is help out there if you are willing to look hard enough. And unlike before when it’s like stepping out into the dark, there is now many beacons to help guide you on your way.

Home buyers get more time to decide

It used to be, see the showflat, book a flat, pay a deposit all within a day or two. Or otherwise miss your chance altogether, what with so many buyers competing for the same unit.

THE Quinn

But now, it seems developers are lengthening their preview launch periods to allow buyers more time to work out their sums before their big commitment. All this in reaction to the recent restrictions on loans, which may have caused buyers to be more cautious about how much they can afford and how much of a loan they can actually receive. Mental sums may not cut it, and developers are making certain that marketing agents are readily at hand to provide assistance and information, even going as far as to provide a “thinking corner” which is free from the pressure of agents to allow buyers a quiet space to consider their potential purchases.

The Tembusu condominium for example was launched only on 13 August, but two weeks before the official launch date, showflats were already open and available for viewing but not purchases. Buyers could have the luxury of time to browse and consider whether their budget matched the indicative pricing. It also allows for a more thorough research and comparison of short and long-term goals and financial considerations.

The MaisonsBanks are also held to the new total debt servicing ratio (TDSR) rules when calculating property buyers’ loan applications, thus the approval waiting period is also longer. It used to take three days to process an application, but now it could take up to a week.
At The Quinn and The Maisons private apartments, buyers not get two days leeway to think things through when previously a blank cheque is required as an expression of interest should they wish to reserve a unit. This has certainly tipped the scale towards buyers as they now have more time to contemplate their purchases and there might be a higher chance of rejection for the developers. How will this affect the overall private property prices?