With 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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Are 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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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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Real estate is a long term investment to generate high return. It’s a highly valuable sector which can’t tolerate risk. Therefore, investors frequently seek for countries that can provide them long term stability and low risk environment. To date, the Malaysian property market has always been an appealing destination to fulfill investors’ needs and is no stranger to them. Malaysia boasts an excellent destination for avid property investors due to its stable social and economic atmosphere which have greatly boosted the growth of the sector.
Based on statistics, the Malaysian property investment has proven to be constantly at its advantage. Over the past five years, apartments have been on the rise at a rate of 40-60% valuation while houses rose with 20%. These figures indicate a signs of no slowing down in the market. People always opt for new apartments or new houses as this market offers lucrative return. To look for the desirable home,making the right choice ranging from location, price and even the aesthetics of the home are extremely important.
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