PROPERTY continues to be a favourite investment portfolio among Malaysians given the country’s high population growth rate that supports demand.
Setia Awan Group chief executive officer Dr James Tee in his talk on Property Investment Checklist, held in conjunction with the StarProperty.my Fair 2016, said the richest people in the country gained 50% of their wealth through real estate.
“This is because in a developing country such as Malaysia, the population growth rate is ever increasing, and as such there will be a high demand for housing.
“Not only will first-time housebuyers be purchasing, but investors as well, since they need products that are tangible and solid that makes property a favourite investment portfolio.
“Capital appreciation of and rental income from a well-chosen project also add to the appeal of property investment.
“By making sure that there is a good rental income, an individual will be able to sustain through the holding period before selling the property.
“This all comes down to sound financial planning, by ensuring that one starts to save early and buy at a young age,” Tee said.
Messrs Iqbal Hakim, Sia & Voo partner Elizabeth Siew Wai Kit speaking on “Rent-To-Own, The Legal Perspective” said rent-to-own aids first-time housebuyers to own a property much later on when they have the capability to do so.
“This concept can only be regarded as a transition period and once the individual has enough to pay for the deposit, or qualifies for a bank loan, they would be able to buy the property of their choice,” Siew said.
Syarikat Ong Group of Companies managing partner Agnes Wong in her talk on “Post Budget, Your Property Tax Strategy” said, “If you look at how the Budget works, there are always good intentions by the Government to have allocations so that as many first-time housebuyers as possible can own a property.”
She said first-time housebuyers should not let the search for their maiden property become a nightmare simply because they were not ready for the heavy commitment over an extended period of time.
“The first home may not be property that they have always had their eyes on, but it is the first step towards owning their dream home,” said Wong.
REI Group of Companies chief executive officer and co-founder Dr Daniele Gambero spoke on “China’s One Belt One Road” that spells exciting times ahead for the Malaysian property market.
Who Says You Can’t be Rich Working a 9 to 5 Job? book author Mark Chua and Chur Associates founder and managing partner Chris Tan also shared their insights with the participants.
The three-day StarProperty.my fair at the Kuala Lumpur Convention Centre ended yesterday.