By Sharen Kaur
Property developers are adjusting their business plan for next year as the economy improves. The first 7 months of the current year saw developers launching incentives such as the 5/95 package, free S&P and legal fees, and zero interest during construction. Transactions were quick for properties in up-market areas thanks to the discounts and goodies offered. And those who were holding on to their property purchase plans may regret now as they will be paying more than they should have if they had bought the properties earlier. This is because, developers are thinking of scrapping the discounts, and raising their prices.
For example, a property which costs RM400,000 in July, may now sell for RM430,000 and buyers would have to pay for legal fees and S&P. It is heard also that banks are cautious on their lending and loans may be hard to come by.
During bad times, every business owner would try to offer the best to win customers. Now, customers would have to go looking for the best,which is going to be time consuming.
Hot areas for properties currently - Bangsar, Damansara, PJ, Taman Seputeh, Sentul
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