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20.10.2018 大马房地产投机客烧到手的故事 ABOUT two weeks ago, a group of about 80 property club members saw licensed auctioneer Warrick Singh.
They were seeking solutions as to what they can do with their property purchases which they took vacant possession a few years ago. Aged between 28 and 42, most of them have two or three property units purchased in 2011 and they were given possession of the property in 2014 or 2015.Many of them, according to Warrick, have never heard about the property cycle or property clock.
“They bought the properties based on what they were taught about the good debt versus bad debt principle, that buying properties is a good debt,” says Warrick. Most of them bought the properties with zero downpayment because they were given a 10% discount. They signed the sale and purchase agreement without having to pay anything and the developer paid for the interest during construction period, Warrick says. They are disgruntled now because they are unable to rent out the units to meet the monthly mortgage payments and they do not want to sell at a loss, although some have done so. They are also unhappy they have to pay for the monthly management charges and sinking fund. Warrick says their gross salaries were “between RM5,000 and RM10,000 or dual income”.
“They were seeking a solution but I had no solution. Instead, I told them about the property clock. Some call it property cycle which is roughly every seven to 10 years.
“Prices will not be down all the time. Just as there is a peak, there will be a bottom. That is the first thing buyers must understand. So timing is important,” he says.
Warrick says the current situation may need a bit more time to unravel as the number of unsold units continue to rise. https://www.thestar.com.my/business/business-news/2018/10/20/unsold-completed-units-on-the-rise/
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发表于 8-11-2018 02:56 PM
变色卡
千斤顶
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