Buying property post-Covid-19 and the movement control order (MCO) is a good idea, but only for owner occupiers and long-term investors who canstill afford to do so, according to PropertyGuru Malaysia.
Its country manager Sheldon Fernandez (pix) said property developers are addingvalue to properties, asking prices aredecreasing and the financing environment is conducive.
In addition, interest rates will be forgiving thanks to Bank Negara Malaysia’s (BNM) Overnight Policy Rate (OPR) cuts, compared to 8-9% or double-digit rates in the past.
The numerous financing catalysts which have been introduced recently, including BNM’s reduction of the statutory reserve requirement ratio to 2%, BNM’s moratorium on financing payments, and revised voluntary Employees Provident Fund contribution guidelines, are further impetuses to buy.
Media Title: The Sun
Date: 14 Apr 2020