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New Budget, Property Boom?

 
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thepirate



Joined: 18 Oct 2010
Posts: 3

PostPosted: Mon Oct 18, 2010 4:39 pm    Post subject: New Budget, Property Boom? Reply with quote

With the new budget, properties under $220k will be snapped up by those earning $3k and below! For next to free as well as stamp duty is at 50% discount. Will this push the entire property market up?
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tycoon88



Joined: 12 Sep 2010
Posts: 192
Location: Puchong(50%)+Klang(50%)

PostPosted: Mon Oct 18, 2010 5:57 pm    Post subject: Reply with quote

bro...honestly I can't think of any new residential launching in KV which is priced below RM220K at this moment.

Unless, developers are willing to build apartments in KV at these prices. Very unlikely to be condos as those cheaper ones have shot up beyond RM300K.

FYI, even DSLs located in the outskirts of KL eg. Semenyih are already selling at above RM220K.
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beekay



Joined: 09 Dec 2009
Posts: 176

PostPosted: Mon Oct 18, 2010 10:51 pm    Post subject: Reply with quote

Of course cannot buy New at 220k, but can buy Preowned at 220k no problem. There are many many preowned apartments units selling at 220k. Go For It!
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thepirate



Joined: 18 Oct 2010
Posts: 3

PostPosted: Tue Oct 19, 2010 11:09 am    Post subject: Reply with quote

Sorry what I meant was as a general rule, now everyone who is earning 3k and below, which pretty much covers most of the population who could not bought property before maybe because no downpayment, now can easily get one, maybe even with less money up front than buying a kancil.

I suspect this will push all property up as a huge demand will be created on lower end properties, even klang has a lot of terrace houses below 220k.

all current properties priced at even far below 220k will be around that price now, because these 20 something year olds can take 30 year loan and afford it.
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beekay



Joined: 09 Dec 2009
Posts: 176

PostPosted: Tue Oct 19, 2010 9:06 pm    Post subject: Reply with quote

The real problem is young people only want new property! That is the problem! It is not that there is no property below rm220k, there are plenty preowned ones for sale at that price.
Because new properties are expensive, these young people complain complain to Govt that they can't afford property (but those young people never admit they are very choosy and picky for New properties only).
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