What to Avoid When Selling a Property

Selling a property can be a maze of decisions, and it’s easy to take a wrong turn if you’re not careful. Avoiding common mistakes is key to a smooth and successful sale. Whether it’s setting the right price, understanding the importance of first impressions, or choosing the best marketing strategy, each step is crucial. Many sellers fall into traps like overpricing, neglecting repairs, or being inflexible with showings, which can hinder the sale process.

Being aware of these pitfalls and proactively addressing them can make the difference between a property that lingers on the market and one that sells quickly and profitably. It’s not just about selling a property; it’s about making smart, informed decisions that lead to a successful transaction.

It’s exciting to put your property on the market and to think about how much your property value has appreciated, but sometimes we can have deep sentimental attachments to the homes we’re leaving behind. Growing emotions can hinder a sale, depending on how you manage them. So when it comes to the bottom line, sellers need to know what it takes to avoid costly mistakes. Being mindful of these things and being prepared for this kind of process can help you avoid some of the most common mistakes when selling your property.

1. Don’t Overprice Your Home

Its common to think buyers will pay whatever you asks for when you price your property for sale. But believe it or not, that’s very far from the truth. Don’t forget that the buyer’s bank will send a valuation appraisal to determine the fair value of your property.

The bank will not lend more than what the property is worth, so be mindful that you might need to renegotiate the price after the valuation appraisal. A real estate professional can help you to set the true value of your property.

2. Don’t Let Your Emotions Interfere

If you have been living in your property for several years, you may get a little bit emotionally attached to your space. If it’s the first home you bought after you got married or the house where your children grew up, it very likely means something extra special to you and your family. Every home has memories and it’s hard to detach from the sentimental value.

So for some homeowners that makes it even harder to negotiate, because its hard separating the emotional value of the home from the actual market price. That’s why you need a real estate professional to help you with the negotiations in the selling process.

3. Do Staging Your Home

It’s so important to make sure you stage your home with the buyers in mind. Buyers want to envision themselves in the space, so it truly feels like their own property. They need to see themselves in the property with their furniture and belongings – not your personal pictures and decorations. So stage and tidy your home so they can visualise their own dream home as they walk through your house. A real estate professional can help you with tips to get your home ready to stage and sell, either virtually or physically.

4. Be Flexible with Viewings

Being flexible with viewings is a vital aspect of the property selling process. It’s about accommodating potential buyers’ schedules to maximise the chances of your property being seen and, ultimately, sold. In today’s fast-paced world, buyers’ availability can vary greatly, so being open to viewings at different times and days, including evenings and weekends, can make a significant difference.

When you’re flexible with viewing times, you cater to a wider range of potential buyers. Some may only be able to view properties during unconventional hours due to work or personal commitments. By limiting viewing times, you might miss out on interested parties who could have been the perfect match for your property.

5. Don’t choose the Wrong Agent

Choosing the wrong real estate agent when selling your property can have significant implications. The right agent is a crucial ally in the selling process, offering expertise in market trends, pricing strategies, and negotiation skills. On the flip side, the wrong agent can lead to a range of issues that might hinder the sale of your property.

A less experienced or less knowledgeable agent might incorrectly price your property, either setting it too high, which can deter potential buyers, or too low, leading to a loss in potential revenue. They might also lack the necessary negotiation skills to secure the best deal, or may not be adept at handling the complexities that often arise during property transactions.

In Summary

In wrapping up, remember that successfully selling your property is about smart planning and avoiding common missteps. From setting a realistic price to ensuring your home is presented in its best light, each decision plays a critical role. Avoid emotional decisions, embrace effective marketing, and be open to the advice of trusted professionals.

Flexibility and preparedness are key in accommodating potential buyers. By steering clear of these common mistakes, you not only enhance the appeal of your property but also pave the way for a smoother and more satisfying sale. Selling a property is a significant journey, and navigating it wisely can lead to rewarding outcomes.

Selling your property is a big decision and should be done with proper preparation. So if you’re considering selling your house, sit down with a local real estate professional to help you navigate through the process while avoiding common seller mistakes that are usually made.

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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When diving into the competitive world of property buying, making an offer that stands out is key to securing your dream home. It’s not just about the amount you propose, but also about how you present and structure your offer. To navigate this process successfully, here are five essential tips for property buyers.

These strategies range from getting pre-approved for a mortgage and understanding the seller’s needs to being flexible with your terms and showing serious intent. Whether you’re a first-time buyer or a seasoned property investor, these tips are designed to give you an edge in a bustling market. By following these guidelines, you’ll be well-equipped to make an offer that’s not only competitive but also appealing to the seller, increasing your chances of a successful purchase.

The real estate market can be very competitive at times. With many buyers competing for a limited number of quality homes, it’s more important than ever to know the ins and outs of making a confident and competitive home offers. Here are five important tips for this important stage in the property buying process.

Download Now: Property Buyers Guide [Free Access]

Conclusion

Today’s competitive market makes it more important than ever to make a strong offer on a property, and a trusted property expert can help you rise to the top along the journey.

In conclusion, making a competitive offer in the property market boils down to being well-prepared, informed, and strategic. From securing financial pre-approval and understanding the seller’s motivations to crafting a flexible, appealing offer, these tips are your toolkit for success. Remember, a competitive offer is more than just the price; it’s about demonstrating to the seller that you are the right buyer.

Stay informed about market trends, be ready to act swiftly, and always keep your communication clear and professional. By adhering to these principles, you’ll not only increase your chances of getting your offer accepted but also move one step closer to owning your dream home. In the dynamic world of real estate, being a well-informed and strategic buyer is your key to success.

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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Questions You Need To Ask Before Purchasing A Property

Embarking on the journey of purchasing a property is both thrilling and daunting. It’s a decision that requires more than just falling in love with a place. To ensure you make a wise and informed choice, there are several crucial questions you need to ask. From uncovering the true condition of the property to understanding the intricacies of the location, these questions help paint a complete picture of what you’re investing in.

Are there hidden costs? What’s the neighbourhood like? How does the property’s value trend in the market? Asking the right questions not only safeguards your investment but also aligns your choice with your lifestyle and future plans. Remember, buying property is not just a transaction; it’s a step towards your future.

If you are thinking about purchasing a property right now, you are probably getting a lot of advice from many people. Though your friends and family have your best interests at heart, they may not be fully aware of your actual needs and what is currently happening in the real estate market.

You will need to ask yourself the following three questions to help determine if now is the best time for you to buy in today’s property market.

Download Now: Property Buyers Guide [Free Access]

Why am I buying a property in the first place?

This is really the most important question to answer. Forget the home budget for a second. Why did you even begin to consider purchasing a property? For most people, the reason has nothing to do with finances.

The actual reasons might be:

• A good place to raise your children and provide them with a good education
• A place where you and your family feel safe and secure
• More space for you and your family
• Moving up in the world

So what does owning a property mean to you? What non-financial benefits will you and your family gain from buying a new home? The answer to that question should be the biggest reason you decide to purchase a property or not.

Where are home values headed?

Last year was a tough one for almost all property sectors. According to data from the National Property Information Centre (Napic), in 1H2020, Malaysia’s property market transaction volume and value decreased 27.9% and 31.5% respectively compared with the previous year. While most property consultants believe there should be some recovery this year, it will depend on the Covid-19 vaccine as well as the performance of the job market and economy.  So keep this in mind when thinking about buying a property.

What does that mean to you?

Simply put, with prices decreasing, it may save you more if you wait until prices stabilise to buy. But also note that your down payment will also need to be higher if prices start to increase across the board.

Where are home loan interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of instalments on a home can be dramatically impacted by even a small increase in mortgage rates.

In the ever-evolving world of real estate, keeping an eye on home loan interest rates is crucial for both buyers and sellers. While it’s challenging to predict with absolute certainty, trends can often be inferred from current economic indicators and policy decisions. Factors such as inflation rates, central bank policies, and overall economic health play a pivotal role.

In times of economic growth and stability, interest rates may rise to keep inflation in check, whereas in more uncertain economic periods, rates might be lowered to encourage borrowing and stimulate the market. Staying updated with financial news, consulting with mortgage experts, and monitoring announcements from central banks can provide valuable insights into where home loan interest rates might be headed. This knowledge not only aids in making timely decisions but also helps in planning your financial future with greater clarity.

What’s the Future of the Area?

Research the area’s development plans. Are there upcoming infrastructure projects or commercial developments that could enhance or detract from your quality of life? The future prospects of the area are as important as its current state.

When considering the future of an area where you’re planning to buy property, it’s essential to look beyond the present. Researching planned developments, upcoming infrastructure projects, or changes in zoning laws can give valuable insights into how the area might evolve. Is there a new shopping center, school, or public transportation line in the works?

These additions can enhance the quality of life and potentially increase property values. Conversely, be aware of any projects that might negatively impact the area, such as industrial development. Understanding these future prospects helps in making a well-informed decision, ensuring that your investment is not just suitable for today but continues to be valuable in the years to come.

How Does the Location Fit Your Lifestyle?

When it comes to buying property, the mantra “location, location, location” couldn’t be more true, especially in terms of how it fits your lifestyle. Consider what a day in your life looks like and how the location of your potential home supports that. Are you looking for the tranquility of the suburbs or the hustle and bustle of city life?

How close are essential amenities like schools, parks, grocery stores, or hospitals? If you’re a commuter, assess the ease of access to public transportation or major highways. Don’t forget to factor in the neighborhood culture – does it offer cafes, galleries, or fitness centers that align with your interests? The right location isn’t just about geographic convenience; it’s about finding a place that complements and enhances your daily life, making your house truly a home.

Location is more than a pin on a map; it’s about your daily life. How close are essential amenities like grocery stores, hospitals, and schools? What’s the commute like? Don’t forget to inquire about the neighbourhood’s safety, community vibe, and future development plans that could affect your living experience.

In Summary

In summing up, asking the right questions before purchasing a property is essential in making an informed and confident decision. It’s about digging deeper than the surface appeal and understanding the nuances of your potential investment. From assessing the property’s condition and location to getting a clear picture of the financial and legal aspects, each question brings you closer to finding a property that’s not just a house, but a home.

So, take your time, be thorough in your inquiries, and remember, the answers you receive today will shape your living experience for years to come. With the right questions, you’re not just buying a property; you’re investing in your future. Only you and your family will know for sure if now is the right time to purchase a property. But answering these questions will help you make that decision easier.

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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Should You Buy Existing Property or New Project Developments?

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With many homes on the market and construction of newly built projects ramping up, you may be wondering if you should consider new development projects in your search process. Deciding between buying an existing property or investing in new project developments is a significant choice that depends on various factors unique to each buyer.

Existing properties often come with the charm and established neighbourhoods, potentially lower costs, and the advantage of seeing exactly what you’re getting. On the other hand, new developments offer modern amenities, customisable options, and potential future growth in value, but they might come with longer wait times and the unpredictability of the project. It’s a balance between the allure of history and character versus the excitement of cutting-edge design and modernity.

Your decision should align with your lifestyle preferences, investment goals, and readiness to either move in immediately or wait for construction to complete. This choice isn’t just about a building; it’s about choosing the backdrop for your life’s next chapter. It’s a great question to ask, and one to think about the pros and cons of what it means to buy a new property vs an existing one. Here are a few things to consider when making the decision of which one to buy.

Download Now: Property Buyers Guide [Free Access]

Why Buy A New Property Development

When buying a new property you can often choose more energy-efficient options, plus you will get new appliances, new windows, etc. These can all help lower your energy costs, which can add up to significant savings for you over time. With programs like the ENERGY STAR RATING, your home also helps protect the environment and reduces your carbon footprint.

Less maintenance comes with a newer property and its a great benefit. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky sink, walls to paint, and other odd jobs around the house. With new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Another great benefit to new construction is customisation. Do you want special mirrors in your bathroom, stainless steel appliances, granite countertops, hardwood floors, an office, or a multipurpose room to homeschool your children? These items can be customised to your specific needs during the design phase. With an existing property you’re buying something that’s already completed, so if you want to make any changes, you may need to hire a contractor to help get your home ready for you and your family.

Why Buy An Existing Property

When buying an existing home, you can negotiate with the current seller on price, which is something you generally don’t get to do with a new development. Developers know their material and construction costs, and they have a price set for the property you’re buying. So, if you want to negotiate price, then maybe an existing home will be a better choice.

For most families, having an established neighbourhood is also important. Some buyers like to know who their neighbours are, if it’s family-friendly, and the traffic situation before making a commitment. When you buy a new construction, you won’t have a full view of some of those details until all the units around you are sold.

Finally, timing is important. With an existing home, you can move in based on the timeline you agree to with the sellers. With new development, you need to wait for the project to be completed. Depending on the time of the year you’re buying and the location you’re in, the weather can also be a factor in the timeframe. This is something really important to keep in mind, especially if you need to move sooner rather than later. 

Existing Property vs New Project Developments?

Conclusion

In conclusion, whether to invest in an existing property or a new project development hinges on your personal needs, financial situation, and long-term goals. Existing properties offer the comfort of established communities and immediate availability, while new developments present opportunities for customisation and potential appreciation in a growing area.

Consider factors like location, budget, maintenance needs, and the potential for value appreciation. It’s also crucial to think about the lifestyle each option offers. Whichever path you choose, ensure it aligns with your vision for the future. Remember, buying a property is not just a financial decision but also a lifestyle choice, shaping your daily life for years to come.

Whether you want to buy a new property development or one that’s already established, both are great options. They each have their pros and cons, and every family will have different reasons driving their decision. If you have questions and want to know more about the options in your area, contact a local real estate professional today so you can feel confident making a decision about your next property purchase.

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How do you determine the market value of your house?

Often people wonder how the pricing decisions of houses or real estate on sale are made. Who decides how much a house is worth? and how do the banks decide how much your home is worth, when valuing your property for re-mortgage.

When it comes to determining the market value of your house, it’s like piecing together a complex puzzle where each piece represents a key factor: location, condition, size, upgrades, and the real estate climate. It’s not just about what you’ve added to your home or its history; it’s about understanding how your home fits into the broader market narrative.

Whether you’re considering selling or just curious, getting a grasp on your home’s market value is a smart move. It involves analysing recent sales of similar properties in your area, understanding current market trends, and sometimes, bringing in a professional appraiser for an expert opinion. This process ensures that you’re not just guessing but making an informed decision backed by real data and expert insights.

People’s perception of market value

Ah, the art of understanding people’s perception of a home’s market value – it’s a fascinating dance between emotion and economics. You see, for most people, a house isn’t just a collection of rooms and furniture; it’s a tapestry of memories, dreams, and aspirations. This emotional connection can sometimes color our perception of its worth. On the flip side, there’s the cold, hard reality of the market – where factors like location, size, recent renovations, and market trends hold sway.

Bridging this gap between sentimental value and market reality is key. It’s about appreciating that while your home might hold a special place in your heart, its market value is influenced by a myriad of factors that might not be immediately obvious. Understanding this delicate balance can help set realistic expectations and lead to smarter, more informed decisions when it comes to selling or buying a property.

People also automatically think price is value, as we have all been subject to consumer culture ever since birth. We have been programmed to accept and pay a fixed price for what we believe is value for the price that is paid.

Example: when you walk into a Nike store which displays a pair of running shoes for RM400. If you like the shoe and if it fits well you will pay the price of the shoe. Hence automatically you are assuming that price equals value.

What people don’t understand is that the notion of price equals value is not accurate. Especially when it comes to property.

So what is market value then?

Market value as defined by the International Valuation Standard Committee (IVSC)  as “ The estimated amount for which a property should exchange for at the date of sale between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had acted knowledgeably, prudently, and without compulsion.

This definition has been adopted by valuation associations worldwide and is the basis of how a property valuer would assess a property. But this is different to how Real Estate Agents assess your property as agents tend to compare your properties with other listed prices on the market. This in its self is a flawed methodology.

Why listed prices are not a good indication of market value

When it comes to real estate, it’s easy to think that the listed price of a property is a solid indicator of its market value, right? Well, not quite. Think of listed prices as the opening bid in a high-stakes auction – they’re often more about strategy and psychology than actual value. Sellers might set a high price hoping to attract buyers who want the ‘best’, or they might go lower, aiming to spark a bidding war. What’s more, these prices can be swayed by a host of factors: emotional attachment, a seller’s urgency, or even a real estate agent’s tactics.

The real meat of the matter – the market value – is a more nuanced figure. It’s shaped by hard data like recent sales of similar properties, neighbourhood trends, and economic conditions. So, while listed prices can give you a ballpark, they’re just the appetiser in the grand feast of property valuation. To really understand a home’s worth, you’ve got to dig deeper, beyond the for-sale sign, into the nitty-gritty of the market itself.

Also initial asking prices are often inflated, as owners may only be testing the market to see what kind of reception they receive, and they may not even really want to sell in the first place. And sellers may have a deep emotional connection with their property, and hence their idea of market value is actually what we call “special value” which is based on their emotional attachment to the property.

So how do we accurately assess market value of a property?

Accurately assessing the market value of a property is a bit like being a detective in the world of real estate. It’s not just a matter of looking at a price tag; it’s about diving into a pool of various factors that paint the full picture. You start by comparing similar properties in the area that have recently sold – these are your clues. Then, you factor in the unique features of your property: its size, condition, upgrades, and even its story.

It’s also crucial to keep your finger on the pulse of current market trends – are prices in your area going up or down? What’s the demand like? Sometimes, you might even call in an expert – a professional appraiser – to give an unbiased valuation. This careful gathering and analysis of information help you arrive at a realistic, data-backed figure. One thing we have to realise is that estimating market value is not a science but more of an art. Property valuers do this for the bank every day and it combines the use of sound methodology and market experience

So what is this methodology we are talking about?

For residential properties, the most appropriate method of valuation is on a direct comparison approach. This method involves the comparison of the property to be valued with sales of similar properties. Comparison can be made in many forms including straight comparison, or analysis on a rate per area basis.

Firstly when using this method, it is essential that we compare like for like (apples with apples). So in theory if you were looking to assess the market value of your house and you find out that there were two identical houses which recently sold along your street for RM1,000,000 and RM 1,050,000 with all things being equal, chances are that your house is worth somewhere in the range of RM1,000,000 and RM1,050,000.

This would be in an ideal situation, however sometimes it can be difficult to find two similar/comparable investment properties to directly compare. Often there are differences in the quality of the building, the level of fit-out, the age of the building, the size of the building, the location etc.

When there are substantial differences, adjustments must be made to take into account these factors.

So when using this methodology, what are the comparison factors does one need to look at? Some of the more common factors include but are not limited to :

• Size- How big is your house.
• Location- Is your property in a desirable suburb/area.
• Condition- What is the current condition of your house, Lots of repairs needed or newly renovated.
• Age- How old is your house ( Usually tied in with condition of house)
• Presentation- How well presented is it, or how good does it look
• Position- Is it positioned along a busy road? Or positioned opposite a beautiful park.
• Views- What type of views does the property have

Ultimately valuations are a matter of professional opinion and can sometimes be subjective especially when there is a scarcity of recent market evidence. So keep this in mind the next time you are either looking for a new house to buy to live in or looking for an investment property to invest in.

Need an estimate valuation of your property ?

Free Valuation: Get Your Property Valued [Free Valuation Report]

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In Malaysia, the dream of homeownership is now more attainable thanks to innovative solutions like the Rent-To-Own (RTO) scheme. This unique approach offers a practical alternative for those who find immediate property purchase challenging. Here’s a breakdown of what the RTO scheme in Malaysia entails and how it benefits prospective homeowners.

Download Now: Property Buyers Guide [Free Access]

What is Rent-to-Own (RTO)?

Rent-to-own or rental-purchase is relatively less known in Malaysia but has been around overseas for decades. One of the first RTOs in Malaysia was not property related, but instead a business model renting out furniture which started out in the 1950s. Rent-to-own for properties took off in the 1980s until today where millions of customers around the world choose rent-to-own.

Rent-To-Own is a program where you rent a property for a specific period, with the option to buy it before the lease expires. This scheme is particularly beneficial for those who currently can’t secure a mortgage due to financial constraints. It’s a bridge between renting and owning, providing a gradual path to homeownership without the immediate need for a hefty down payment.

A rent-to-own agreement allows the buyer the option to buy the rental property at a future date. In the meantime, the property buyer is also a home renter for the property and makes regular payments to the real estate seller.

How Does RTO Work in Malaysia?

Under the RTO scheme, a potential buyer enters into an agreement to rent a property for a predetermined period, typically five to ten years. During this rental period, a portion of the monthly rent goes towards the future purchase of the property. At the end of the rental term, the tenant has the option to buy the house at a price agreed upon at the start of the lease, utilising the rent contributions towards the purchase.

Rent-to-Own Pros

Low or no down payment required for the property

The scheme eliminates the need for a substantial initial down payment, making it easier to start the journey towards owning a home.

Start right away

Able to start on process towards owning a property even if currently unable to qualify for a home loan.

Locked-In Purchase Price

The purchase price is fixed at the start of the lease, protecting buyers from future real estate market fluctuations. So the property purchase price locked in at today’s pricing and enjoying future price appreciation.

Time to Build Financial Stability

Able to stay in the property before deciding on property purchase decision. The rental period provides time to improve credit scores, save for a down payment, and build overall financial stability.

Trial Period

Living in the property before buying allows you to ensure it’s the right fit for you and your family.

Rent-to-Own Cons

• Forfeiting money paid for the “option” of buying the property if you decide not to buy.
• Risk of being unable to qualify for a loan at the time that you want to buy the property.
• You are not the owner of the property (yet) and cannot renovate or make any changes without the owner’s approval.
• Property prices may unexpectedly fall lower than the price locked in at today’s pricing.

Considerations for Prospective RTO Participants

While RTO is an attractive option, it’s important for potential participants to consider a few factors:

Understanding the Terms

Ensure clarity on terms, including rental rates, the portion of rent credited towards the purchase, and responsibilities for maintenance and repairs.

Property Valuation

Understand how the property is valued and how it compares to the market rate.

Exit Options

Know the implications if you decide not to purchase the property at the end of the lease.

Should I Opt for Rent-to-Own?

You should consider rent-to-own if you are unable to get a home loan, or pay for the down payment, but you are confident of having the monthly cashflow for the monthly payments.

The difference between a full property purchase down payment is approximately 10% of the property price versus 1-2% for the property price for 3 months rental down payment.

The choices for rent-to-own properties are limited in Malaysia, but there will be more RTO property projects launching in Malaysia soon.

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How to sell your house fast

Why sell your home

Deciding when to sell your home is a significant decision influenced by various personal and market factors. Ideally, selling when the real estate market is favourable, characterised by high demand and rising property values, can maximise your return on investment. It’s also wise to consider personal circumstances such as changes in family size, employment status, or financial needs. Selling when you have equity in your home, meaning the market value exceeds the remaining mortgage, is financially prudent.

Additionally, consider the condition of your property; homes in good repair tend to fetch higher prices. Monitoring local market trends, such as new developments or changes in neighbourhood dynamics, can also inform the timing of your sale. Consulting with real estate professionals can provide valuable insights into the optimal timing based on current market conditions and your personal situation.

Download Now: Property Sellers Guide [Free Access]

Selling your house quickly in a competitive market requires a combination of strategic pricing, effective marketing, and ensuring your property is in its best condition. Begin by setting a realistic price that reflects the current market value, as overpricing can deter potential buyers. Enhance your home’s curb appeal with basic improvements like a fresh coat of paint, tidy landscaping, and necessary repairs, as first impressions are crucial. Stage your home to showcase its potential, creating a welcoming and neutral environment that appeals to a wide range of buyers.

Utilise professional photography to capture high-quality images for listings, as visual appeal is key in online marketing. Listing your property on popular real estate platforms and leveraging social media can increase visibility. Engaging a reputable real estate agent can also expedite the process; they can offer expert advice, market insights, and access to a broader network of potential buyers. Be prepared to negotiate and respond promptly to offers to maintain buyer interest. By combining these tactics, you can increase the chances of selling your house swiftly and efficiently.

 

Conclusion

 

In conclusion, selling your house quickly involves a strategic blend of competitive pricing, effective presentation, and proactive marketing. Setting a realistic and market-aligned price is crucial to attract immediate interest. Enhancing the property’s appeal through minor repairs and staging ensures it makes a strong first impression.

 

Utilising high-quality photos and comprehensive online listings broadens your reach to potential buyers. Collaborating with an experienced real estate agent can provide valuable market insights and access to a wider network of prospective buyers. Being responsive and flexible in negotiations can also play a key role in closing a deal swiftly. By integrating these elements, you can significantly increase the likelihood of a fast and successful sale of your home.

 

 

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Singapore is home to some of the most prominent and innovative property developers in the world. These developers have been instrumental in shaping the landscape of the city-state, and have contributed to the growth and development of Singapore as a global business and financial hub. From luxury high-rise condominiums to sprawling commercial complexes, Singapore’s top property developers have a wide range of projects under their belt, all designed to meet the ever-changing needs of the modern city.

In this article, we’ll take a closer look at the top 10 property developers in Singapore. Whether you’re a real estate investor, a business owner, or a resident of Singapore, these developers are worth keeping an eye on as they continue to shape the future of this dynamic city-state. Here are the top 10 property developers in Singapore:

CapitaLand Limited

CapitaLand Group (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered in Singapore, CapitaLand’s portfolio focuses on real estate investment management and real estate development, and spans across more than 260 cities in over 40 countries.

Within its ecosystem, CapitaLand has developed an integrated suite of investment management and operating capabilities that supports its real estate businesses and platforms in building core competencies across the real estate value chain. With this full stack of capabilities, CapitaLand can optimise the strategies of its listed real estate investment management business CapitaLand Investment, and its privately held property development arm CapitaLand Development; to drive competitive advantage for its businesses.

City Developments Limited

City Developments Limited (CDL) is a leading global real estate company with a network spanning 104 locations in 29 countries and regions.

Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, retail malls and integrated developments.

With a proven track record of 60 years in real estate development, investment and management, the Group has developed over 48,000 homes and owns around 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally.

UOL Group Limited

UOL Group Limited is a Singaporean headquartered company focusing on investment, development and management of real estate across the Asia-Pacific region. The Wee Family, significant shareholders of United Overseas Bank are the largest shareholders of the company. The company is a constituent member of the Straits Times Index.

The company was founded in 1963 as Faber Union Limited, a subsidiary of Faber Union (HK) Limited. Singapore Exchange It became a publicly traded company in 1964.

Mapletree Investments Pte Ltd

Keppel Land Limited

Keppel Land is a wholly-owned subsidiary of Keppel Corporation, a Singapore flagship multinational company providing solutions for sustainable urbanisation, focusing on energy & environment, urban development, connectivity and asset management.

Keppel Land is an innovative urban space solutions provider that leverages technology to deliver sustainable and customer-centric solutions that enrich people and communities. It is focused in the areas of sustainable urban renewal, senior living, urban living, retail and large-scale integrated developments.

Its award-winning portfolio comprises investment-grade commercial properties, residential developments and integrated townships. It is geographically diversified in Asia, with China, Singapore and Vietnam as its key markets, while it continues to scale up in India as well as other developed markets globally.

Oxley Holdings Limited

Oxley Holdings Limited (“Oxley” or “the Group”) is a home-grown property developer with a diversified portfolio including property development, property investment and project management. Oxley is listed on the Main Board of the SGX-ST.

The Group currently has a business presence across seven geographical markets including Singapore, the United Kingdom (the “UK”), Ireland, Cyprus, Cambodia, Malaysia and the People’s Republic of China (“PRC”). The Group specialises in the development of quality residential, commercial, industrial and hospitality projects.

Since Oxley’s incorporation in March 2010, the Group has launched a portfolio of 51 projects, and completed 40 projects across various countries, demonstrating its comprehensive execution capabilities.

GuocoLand Limited

GuocoLand Limited (“GuocoLand”) is a public company listed on the Singapore Exchange Securities Trading Limited since 1978. Headquartered in Singapore, the principal business activities of GuocoLand and its subsidiaries (“the Group”) are property development, property investment, property management and hotel operations.

The Group has established property operations in the geographical markets of Singapore, China and Malaysia, through a portfolio of quality integrated mixed-use developments as well as other premium residential, commercial, retail and hospitality developments. As a premier real estate group, GuocoLand is focused on achieving scalability, sustainability and growth in its core markets through its property development, investment and management businesses.

In recognition of its portfolio of quality, innovative developments and commitment to business excellence, the Group has been honoured with numerous awards and accolades both in Singapore and internationally.

Hong Leong Holdings Limited

Hong Leong Holdings Limited (HLHL) was established in 1968 as the privately-held property development and investment arm of the Hong Leong Group. As one of the pioneers of the real estate scene in Singapore, HLHL has since emerged as a major player in the property market, making it one of the most sought-after providers of a comfortable home. To date, it manages 8 commercial projects and has developed close to 100 residential properties, including a range of mid to
high-end residential projects in some of the country’s most coveted neighbourhoods.

Looking forward, HLHL continues to seek improvement and expansion in its business while maintaining its distinct level in design, sustainability and customer service.

Bukit Sembawang Estates Limited

Bukit Sembawang Estates Limited (BSEL) is a public-listed company incorporated in Singapore in 1967 with a focus on property development, investment and other property-related activities. As one of Singapore’s pioneer residential property developers, BSEL has established a reputation in delivering fine quality landed homes, private condominiums and apartments.

Bukit Sembawang Estates Limited’s widely acclaimed portfolio includes completed projects such as 8 St Thomas, The Vermont on Cairnhill, Skyline Residences, Nim Collection, Luxus Hills and Mimosa Terrace. Awarded the BCI Asia “Singapore Top Ten Developers”​ in 2017, BSEL is committed to designing and building distinctive homes of the highest standards that satisfy the aspirations and lifestyles of their customers, for generation after generation.

Chip Eng Seng Corporation Ltd.

Chip Eng Seng Corporation Ltd (“the Group”), listed on the Mainboard of Singapore Exchange Securities Trading Limited (“SGX-ST”), is a multinational conglomerate company with businesses in construction, civil infrastructure, precast technology, environmental, property development and investment, hospitality, as well as education. 

Founded in the 1960s, the Group started its business as a building subcontractor for conventional and landed properties, and was appointed as main contractor for its first Housing & Development Board (“HDB”) project in 1982. Over the years, it grew from strength to strength and diversified into the construction of private condominium projects and engaged in precast technology. 

Leveraging on its accumulated experience and know-how, the Group scaled up the property value chain to undertake property development and investment in the 1990s. Its property development and investment portfolio spans shophouses, residential, commercial, industrial and mixed-use development projects. To further diversify its business, the Group made its foray into the hospitality industry in 2015 and the education sector in 2018.  

Wrapping up

And that’s a wrap on the movers and shakers of Singapore’s real estate development scene for 2023! From skyline-defining skyscrapers to cosy neighbourhood enclaves, these are the companies setting the gold standard in creating spaces where dreams are built, and life-long memories are made. So, whether you’re in the market for luxury living or a snug starter home, these top-tier developers are sure to have something that’ll tick all your boxes. Go on, take the leap with any of these trailblazers and plant your roots in a place you’ll be proud to call home. Here’s to new beginnings and solid foundations in the heart of the Lion City!

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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The recent years have been tough on the property industry in Malaysia, but while conditions haven’t been great there are quite a few property developers who are still performing quite well.  So lets dive in on who’s who in Malaysia’s property playground this 2023. We’ve got the best list that’ll guide you through the top performing developers in our buzzing bazaar of buildings. So, buckle up as we unveil the Top 10 Property Developers in Malaysia in 2023 that are making waves and laying down the foundations for our future. With that i would like to introduce:

Malaysia’s Top 10 Property Developers of 2023

Today, we will unveil the top 10 property developers who have been making waves in the Malaysian property landscape in 2023. With their innovative designs, sustainable practices, and commitment to quality, these developers have consistently pushed the boundaries of excellence in the industry. So, without further ado, let’s dive into the exciting world of Malaysian real estate:  

LBS Bina Group Berhad

LBS Bina Group is known for its affordable housing initiatives and integrated developments. With a vision of providing quality homes for all, they prioritise affordability, accessibility, and community development, making homeownership a reality for many Malaysians. 

UEM Sunrise Berhad

UEM Sunrise is known for its iconic developments that redefine urban living. Their portfolio includes high-end residences, commercial properties, and integrated developments. Emphasising innovation and sustainability, they consistently deliver exceptional living experiences.    

IJM Land Berhad

IJM Land has a strong presence in both Malaysia and international markets. Their diverse portfolio spans residential, commercial, and mixed-use projects, all crafted with a deep understanding of customer needs and an unwavering commitment to quality.    

S P Setia Berhad Group

Renowned for its iconic developments, S P Setia has established a solid reputation both locally and internationally. With a commitment to sustainable living, they have created award-winning residential, commercial, and mixed-use projects that redefine urban living.    

IOI Properties Group Berhad

IOI Properties is recognized for its exceptional track record in developing integrated townships, commercial properties, and high-rise residences. Their focus on quality and community development has earned them a strong following among property buyers and investors.    

Gamuda Land

A name synonymous with innovation and sustainability, Gamuda Land is known for its master-planned townships and infrastructure projects. With a keen eye for detail and a commitment to green spaces, they create harmonious living environments that seamlessly blend with nature.    

Sunway Property

Sunway Property has made its mark with its vibrant mixed-use developments, including residential, commercial, and retail components. They prioritise the integration of amenities, connectivity, and sustainability, offering residents an enriching and convenient lifestyle.    

Mah Sing Group Berhad

Mah Sing Group is a dynamic developer that excels in residential, commercial, and industrial projects. With a focus on affordability and contemporary design, they cater to a wide range of homebuyers, making quality living accessible to many.    

EcoWorld Development Group Berhad

EcoWorld is dedicated to creating sustainable, eco-friendly communities that prioritize green living. Their developments emphasise open spaces, connectivity, and smart technologies, offering residents a wholesome and balanced lifestyle.    

Sime Darby Property

Sime Darby Property is recognised for its large-scale integrated developments and townships. They focus on sustainable living, incorporating green features and amenities that enhance the well-being of residents, while also fostering a sense of community.  

These top 10 property developers of 2023 represent the best of the Malaysian real estate development industry. With their diverse portfolios, commitment to sustainability, and innovative designs, they continue to shape the urban landscape and provide exceptional living experiences for Malaysians. Whether you’re a prospective homeowner, investor, or simply intrigued by the world of property development, these developers offer a glimpse into the future of Malaysian real estate. Stay tuned for more updates on their exciting projects and groundbreaking initiatives! Click here for the Top 10 Property Developers In Malaysia 2024. 

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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Buying property in Malaysia for expats

There are more and more foreigners or “expats” that are calling Malaysia home. If you are a foreigner and reading this you obviously want to buy a home in Malaysia. But before making any quick decisions, you will need to understand certain policies and legal requirements imposed by the Malaysia Government on foreigner property purchases.

Our informational article will guide you through the types of properties available to foreigners, the minimum requirements imposed by Malaysian authorities, and how to get property financing in Malaysia.

Download Now: Property Buyers Guide [Free Access]

Can foreigners buy property in Malaysia?

The short answer to this question is yes, foreigners can purchase properties in Malaysia, however like any other country there are rules and regulations that must be followed when an expatriate purchases property in Malaysia.

How are foreigners classified when buying property in Malaysia?

To answer this question we need to know what is the definition of a foreigner in Malaysia. Here is the formal legal answer:

The definition of a foreigner can be found in the primary legislation which is the NLC 1965. Section 433A of the NLC 1965 and the Companies Act 2016, define a foreigner as follows:-

“Foreign Company” is either (a) a company, corporation, society, association or other body incorporated outside Malaysia; (b) an unincorporated society, association or other body which under the law of its place of origin may sue or be sued, or hold property in the name of the secretary or other officer of the body or association duly appointed for that purpose and which does not have its head office or principal place of business in Malaysia; (c) a company incorporated with 50% or more of voting shares held by non-citizen/foreign company or by both; OR (d) a company incorporated with 50% of more of voting shares held by company in (c);

“Non-citizen” is a natural person who is not a citizen of Malaysia.

Therefore, an expat or foreigner can be summed as an individual who is a non-citizen of Malaysia or an entity that is a Foreign or non Malaysian Company.

What are the requirements for foreigners buying property in Malaysia?

In Malaysia there are specific requirements for foreigners buying property in Malaysia, which are:

1. The Minimum Purchase Price

This is the first and most important requirement to comply with before making any decisions.

So what does “minimum purchase price” mean? This means that a foreigner can buy a property in Malaysia if the purchase price of the property is above a certain threshold that is set by each Malaysia state. This threshold applicable will depends on each state and is set by the government of each state at a specific threshold amount.

The reason this threshold is set high is to ensure that the general property market in Malaysia is not driven up in price by foreigner buyers.

Below is a summary of the purchase price thresholds applicable to foreigners or expats who are thinking about buying property in the most popular cities in Malaysia: Kuala Lumpur , Selangor and Johor.

Kuala Lumpur

The minimum threshold for foreigners to acquire a property in Kuala Lumpur is RM1,000,000. This is a blanket requirement.

Selangor

In Selangor, the minimum threshold for foreigners to acquire a property is RM1,000,000. However, in Selangor, foreigners must take note that the minimum threshold to purchase different types of units differs from zone to zone. Here is a break down of the different zones:

Zone 1

• Petaling, Gombak, Hulu Langat, Sepang, Klang
• Minimum residential price : RM2,000,000.
• Minimum commercial and industrial price : RM3,000,000.

Zone 2

• Kuala Selangor, Kuala Langat
• Minimum residential price : RM2,000,000.
• Minimum commercial and industrial price : RM3,000,000.

Zone 3

• Hulu Selangor, Sabak Bernam
• Minimum residential price : RM1,000,000.
• Minimum commercial and industrial price : RM3,000,000.

Johor

The minimum threshold for foreigners to acquire a property in Johor is also RM1,000,000.

Off-limit Properties

The next requirement that foreigners need to be aware of is the types of property that they are allowed to purchase in Malaysia. Generally, as long as the property is above the minimum threshold set by each state, a foreigner can buy the property.

But, there are certain properties that are totally off-limits to foreigner buyers. These are the types of property that are totally off-limits to foreigner buyers:

• Low or low-medium cost houses
• Properties with a description of “Malay Reserved Land”
• Any property allocated under “Bumiputera interest” in a development project.
• Properties valued at less than RM1,000,000

In the next section we go into more detail about the kinds of properties that foreigners can buy.

What kind of properties can foreigners buy in Malaysia?

Based on the legal requirements for foreigner property purchase, foreigners can easily own a bungalow, semi-detached house, terrace house, condominium, flat, landed property, studio unit, commercial property, industrial property, agricultural land (except Malay Reserved Land) and industrial land (except Malay Reserved Land).

It’s important to note that Malaysia works on a federal system, so the rules in states of Peninsular Malaysia (West Malaysia) differ from those of Sabah and Sarawak (East Malaysia), which have the power to implement their own ownership legislation.

Based on the restrictions of certain properties that foreigners cannot buy, mentioned above, here are the types of property that foreigners are allowed to purchase in each respective state:

Selangor

Foreigners wanting to buy a property in Selangor are allowed to purchase the following types of property:

• Residential units, which are under Strata Titles only;
• Commercial units; and
• Industrial units or land.

Kuala Lumpur

Foreigners wanting to buy a property in the capital of Malaysia are allowed to purchase the following types of property:

• Residential units, both landed (individual title) and under Strata Titles;
• Commercial units;
• Industrial units or land; and
• Agricultural land.

Johor

Foreigners wanting to buy a property in Johor are allowed to purchase the following types of property:

• Residential units;
• Commercial units; and
• Industrial units, with no restrictions as of the number of units. However, this is subject to certain criteria.
• Purchases not through a Developer or secondhand or sub-sales:-
• Residential units;
• Commercial units;
• Industrial units, with no restrictions as of the number of units. However, this is subject to certain criteria; and
• Agricultural land (however, it should be noted that foreigners are not permitted to acquire agricultural land except by way of lease).

How foreigners can buy property in Malaysia with MM2H?

Malaysia also offers a special program for property purchase via the Malaysia My Second Home (MM2H) visa. The MM2H scheme provides a renewable ten-year maximum, multiple-entry visa.

Eligibility criteria vary between Peninsular Malaysia, Sabah, and Sarawak, but requires an applicant to demonstrate a certain level of financial liquidity, either through offshore income or cash in a Malaysian bank.

The Malaysia My Second Home (MM2H) programme is a programme created for foreigners who wish to stay in Malaysia for the long term (10-years). Many foreigners who used to work in Malaysia have applied for this programme as their retirement plan in Malaysia.

The requirement for an MM2H application, is that foreigners below 50 years of age are required to prepare a minimum of RM500,000 in their Savings Account / Current Account / Fixed Deposit whereas those aged above 50 years of age need to have at least RM350,000 in similar accounts. Need to transfer funds overseas? Get quick and cheaper international transfers with Wise.com — your gateway to borderless banking and effortless money management

You will also need to be sponsored by a Malaysian citizen. In Peninsular Malaysia, a registered MM2H agent can replace a citizen sponsor.

Malaysia My Second Home visa holders also enjoy certain benefits when it comes to owning property in Malaysia. That includes discounts on certain types of properties available on the market.

What are the steps for foreigners to buy properties in Malaysia?

Ok, we have gone through the rules and regulations for foreign buyers, as well as the eligibility for property purchase. Here are the steps needed for foreigners to buy properties in Malaysia:

Step 1 – Make sure you are financially able to make the purchase, whether you are buying  the property outright or if taking a loan being eligible for a bank home loan.

Step 2 – if required and if you are eligible, apply for a home loan from the bank. The margin of finance available with Malaysian banks varies depending on your circumstances. Under MM2H, it is normally 80% of the total purchase price. Without MM2H, the maximum would be around 70%. Alternatively, sourcing your home loan overseas is also an option.

Step 3 – Engage a real estate agent to help you find the most suitable property for you to buy. You can search online and find professional real estate websites who specialise in the types of property you are interested in.

Step 4 – Do as many home viewings as possible to find your dream home or investment.

Step 5 – Once you find the right property, submit your intention to buy through a letter of offer.

Step 6 – When the deal is closed, provide your lawyer with the relevant documents — photocopy of passport, correspondence address and contact details, income tax details, as well as location of tax payments for purchase of secondary market properties.

Step 7 – If required pay the remaining balance on the property purchase price as defined under the SPA, or Schedule H Housing Development (Control And Licensing) (Amendment) Regulations 2015. If you have taken a home loan, the bank should settle this for you.

Step 8 – If the purchase is a sub-sale you can then move in after all approvals are complete, if it’s a new development project being constructed you will have to wait until the project is fully completed.

What is the cost for foreigners buying property in Malaysia?

Here are a list of costs associated with buying a property in Malaysia that would be applicable to foreigners:

• Stamp duties & Memorandum of Transfer (MOT)
• Legal Fees
• Real Property Gains Tax (RPGT)
• Tax on Rental Income
• Loan stamping fees
• Door tax & title deed
• Maintenance fee (Condominiums only)

How can foreigners get a home loans in Malaysia?

Foreigners can qualify for home loans in Malaysia. With home loans for foreigners, the Margin of Finance (MOF) can go up to 80% for MM2H holders, while non-MM2H holders would generally get 70% MOF. Loan tenure can reach until 30 years, provided the applicant is not above 70 years of age when the loan tenure ends. Loan stamp duty is around 0.5% of the loan amount. Legal fees and disbursements will be around 0.8% of loan amount. On getting home loans, foreigners are usually better off taking loans from foreign banks in Malaysia.

But there is an exception to the rule, if the foreigner has married a Malaysia citizen, the spouse will be required to take part in loan financing to enjoy MOF as high as 90%.

Conclusion

Buying property in Malaysia as a foreigner might seem like navigating through a spicy bowl of laksa, but it’s a journey well worth embarking on. With its welcoming policies, stunning landscapes, and vibrant culture, Malaysia offers a tapestry of opportunities for those looking to own a slice of this tropical haven. Whether you’re in for the bustling city vibes or the tranquil retreats, there’s a place here to call your own. So, gear up, reach out to the right folks, and take that exciting step towards your Malaysian dream home. Here’s to new beginnings in a country that’s as warm and inviting as the people who call it home. Selamat datang and happy house-hunting!

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