Property


Budget MalaysiaPrime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2015 budgets in the Parliaments on Friday, 10th October 2014. The theme for 2015 Budget “Accelerating Growth, Ensuring Fiscal Sustainability and Prospering the Rakyat.”

In 2015, economic growth is expected to remain strong between 5% and 6% while the fiscal deficit is projected to further decline to 3% of GDP.

The 2015 budget is formulated with focus on the people’s economy and outlines seven main strategies:

First Strategy: Strengthening Economic Growth;

Second Strategy: Enhancing Fiscal Governance;

Third Strategy: Developing Human Capital and Entrepreneurship;

Fourth Strategy: Advancing Bumiputera Agenda;

Fifth Strategy: Upholding Role of Women;

Sixth Strategy: Developing National Youth Transformation Programme; and

Seventh Strategy: Prioritising Well-Being of the Rakyat.

The following are 2014 Budget highlights for Personal Finance and Investment.

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New Bob GroupWith the booming property market in Malaysia and continual escalating prices of properties, various property buyers often find themselves resorting to downgrade their ideal home from a two-storey linked house to a two-bedroom condominium. If you are a prospective first-time homebuyer, you are likely to encounter the first of many challenging decisions which is to either get a beginner home or save up for your eternal home.  Everyone tends to define differently on what constitutes a “beginner home” or an “eternal home”.

Generally, a beginner home entails a joyful living for the homebuyers for at least five years or merely something that is ideal for a single individual. On the contrary, an eternal home refers to a home that homebuyers can envision themselves living for the rest of their lives when they start a family. As of late, home-buying behaviours have fluctuated as much as interest rates. First-time homebuyers tend to shop for homes that fit their budget rather than preference. Be it a beginner home or the wait for your eternal home, there are pros and cons to take note.

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Property Outlook ConferenceAre you a property investor and interested to find out the property market outlook in 2014? If you are, Property Outlook Conference 2014 will be an exiting event for you. The event will be from 11th to 12th January 2014 in Hotel Istana, Kuala Lumpur.

The conference organizes by Wealth Mastery Academy, and they line up the top Property Investment Gurus, Experts, Valuers, Developers, and other related market players in Malaysia and overseas to share their knowledge.

The knowledge obtained from this conference will help assist property investors to absorb and practice the effective property investment strategies.

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Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2014 budgets in the Parliaments on Friday 25th October 2013. The 2014 Budget is formulating based on the theme “Strengthening Economic Resilience, Accelerating Transformation And Fulfilling Promises”.

There are five main thrusts in 2014 budget.

First Thrust :- Invigorating Economic Activity

Second Thrust :- Strengthening Fiscal Management

Third Thrust :- Inculcating Excellence in Human Capital

Fourth Thrust :- Intensifying Urban and Rural Development

Fifth Thrust :- Ensuring Well-Being of the Rakyat

The following are 2014 Budget highlights for Personal Finance and Investment.

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Mortgage

If you plan to buy a house, you’ll most probably need a home loan.  However, getting a good home loan is actually pretty challenging.  You’ll need to determine the kind of loan you need, and you’ll have to find out the interest rates so you can make comparison.  Traditionally, that means visiting or calling up all the banks.

In Malaysia, there are generally two types of home loan – flexi, and non-flexi (or “conventional”).  Flexi loans give you the freedom to reduce your loan interest with additional income, whilst non-flexi loans are more rigid and have the same repayment instalment throughout the loan period.  Depending on what you need, you can opt for either.  Personally, I believe flexi loan to be more beneficial.

In 2013, Bank Negara introduced a new regulation, which limits home loan period in Malaysia to a maximum of 35 years. If you are planning to purchase a more expensive home by stretching your loan period to 45 years or beyond, you should take note that you can’t do that now.

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