There is a strong case to be made that now is the best time to buy a property for your own stay, not later and here are some reasons why. The property market has always been a topic of discussion among investors, and with the recent pandemic, people have become more cautious with their investments. Some argue that it's best to wait and see how the property market responds, while others believe it's an opportune time to invest in a forever home. Here are some reasons why you should consider investing in property now, not later.
It's a buyer's market. The pandemic has made people hesitant to invest in big assets, creating a market that's flooded with developments that have been ongoing for the past few years. This puts you, the buyer, in a powerful position, as developers are competing for your business. They're also offering creative ways to sweeten the deal, which may not be the case when the market returns to normalcy.
There are plenty of options to choose from. With a well-supplied market, you have an abundance of options when it comes to where you can invest your money. From different locations to various configurations, sizes, and levels of luxury and affordability, you'll be spoilt for choice.
Developers are offering better facilities than ever. To set themselves apart from competitors, developers are getting more creative in the kind of facilities they offer. From massive green lungs to herb gardens, green building features, and pools, potential buyers can see the interesting facilities on offer and how they enhance the lifestyle they plan to have at home.
Property prices are unlikely to fall dramatically and may even increase. While the first quarter of 2022 saw a significant drop in house prices since the start of the pandemic, the Malaysian House Price Index (MHPI) shows an increase of 2.4% in Q1 2022 on an annual basis. This indicates that the market is on a growth trajectory, albeit a slow one. Therefore, investing in your dream home now may prove to be a wise decision in the long run.
Attractive campaigns by property developers. To encourage and attract potential buyers, property developers are running campaigns that offer added incentives when you buy a property. For example, Crest Builder is currently running a successful 2023 new launch in Klang Bandar Bukit Tinggi 2, titled Interpoint. This time around, the campaign offers offers up for grabs when you purchase a Interpoint Klang Unit.
Interest rates are low. Low-interest rates make borrowing money for investment purposes more affordable. With the current market conditions, you may be able to secure a lower interest rate, making it an excellent time to invest in property.
In conclusion, while there may be some uncertainty about the property market's future, there are also several reasons why investing in property now may prove to be a wise decision. With the current market conditions and added incentives from developers, it's a buyer's market that offers plenty of options for potential investors.
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