PETALING JAYA – Property owners becoming more realistic on pricing during tough times and willing to reduce their asking price, for buyers who are eyeing for investment properties, now it’s time to do so, said Propnex Malaysia COO & principal Evon Heng.
For buyers who are eyeing for investment properties, now it’s time to do so.Evon Heng, Propnex
“The Covid-19 pandemic has impacted every economic sector, this has opened up good investment opportunities as owners are looking to cash out to conserve cash for their business,” she said during a Facebook live session titled “Undervalued Properties: Opportunities or Risk?”.
The one and half hour webinar has attracted over 10,000 views from interested viewers who are keen to learn more about the good bargains in the market.
Undervalued properties doesn’t mean “cheap”, Heng defined it as properties with asking price at least 10% below bank valuation, in a good location, easy to secure tenants and decent rental yield of around 4.5%.
It should be a worthwhile investment property that serves as a long term saving for individuals and could be liquefied in the future or have financial needs, she added.
“Now it’s the time for serious buyers who have done their studies, understand their budget and risk appetite, and most importantly, identified the preferred locations, should make their buying decisions if the price meets their budget. As we never know when the price is bottomed, the longer you wait, the good deals will be off the market soon,” said Heng.