My View – Not a good time to buy property

Personally, I feel this is not the good time to buy property, especially high-rise properties. Yes, people are rushing to buy properties now in anticipation of higher prices in next years and with the thinking that property will only appreciate with time. But as I am no expert in property investment or making money, so I decided it is not a good time to buy property for me.

Inflation is hitting hard,  electricity hikes will be announced tomorrow and fuel price increased also inevitable in the future. Also, banks keep raising the interest rate and this will translate to higher cost for purchase of property and car. Stock market is at sky high level with 1,500 points++, Ringgit is getting stronger, so I don’t feel that right to invest in such a time. I am not predicting recession is coming, but what the US done, it could impact us. This only mean one thing, we must be more careful with the hard earned money.

Although the negative perceptions, I am still looking what offering on the market now. You just have to lookout for best deals out there. And I have seen 2 quite decent properties recently, not really within my budget, I have lower budget for 2nd hand properties.

a) Pelangi Condominium, Gombak

Recent posts on iproperty.com here , selling RM280k for 1,291 sq ft and quite good remark at propwall as well. Check out the actual map from google map, the map shown in Iproperty is wrong, it is not beside the Sentul LRT. Sometime, the sales people is just so desperate to cheat you to buy it. I feel that this property quite decent, but price has increased more than 50% since launch time.

b) Diamond Regency Condo, Gombak

The unit for sale is quite small, only 600 sq ft for RM230 (nego) and you can refer here. Quite good remark at propwall as well. It is a low density condo and in quite good location, beside all the shoplots and opposite police station. I always like home to be near to shoplot or eateries although it will mean traffic jam. See the main entrance below, full of cars double parked.

But I feel the unit is just too small for a small family, if only it come with 2 rooms and somemore there is no kitchen installed, probably need another RM20k just to do up a new kitchen. You can see not many properties for sale for this condo as well, which can mean it is quite good? Hehe 🙂

Both the property I seen above more for my own stay rather than  investment. Hmmm, shouldn’t I be looking for a property to invest first? 🙂

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