SHEDA Kuching Branch 2nd Home & Property Roadshow 2019
For publication on 2 November 2019
DETAILS OF THE 2ND HOME & PROPERTY ROADSHOW 2019
DATE : 1st – 3rd November 2019
VENUE : East Atrium, Ground Floor, Vivacity Megamall, Kuching
The 2nd Home & Property Roadshow 2019 which started yesterday comprises of developers, real estate agents, and other property related trades bringing in the best property offers for home owners or investors.
Today at 2pm, visitors of the 2nd Home & Property Roadshow 2019 will get to witness the first ever “Next Big Chef (NBC) – Developer Challenge”. This NBC-Developer Challenge, co-organised by Sendayan Group is a collaboration with UCSI University where six teams of developers will be competing against each other to be the Next Big Chef. The Challenge will be moderated by 3 guests professional chef judges and visitors will also get a chance to be part of voting for their favourite chef.
‘Bestari’ will be offering free food sampling from 10am until after the result of NBC are announced. Other sponsors of the event include Kow Kow, CCK, Lam Soon and Tamago.
Other activities include the “Buy & Win” Lucky Draw where potential buyers who spend a minimum of RM1,000 will get a chance to win 40” Smart LED TV, electrical appliances, hampers and food vouchers.
Visitors who participate in contributing their opinions in our survey campaign will also be able to get a mystery gift, subject to availability during this 3-day property roadshow. For regular updates on this roadshow, please follow their Facebook page, SHEDA Kuching Branch.
COMMENTS BY SHEDA KUCHING BRANCH CHAIRMAN, CR. SIM KIANG CHIOK
There are 3 types of purchasers in the property market. 1) speculator, 2) investor 3) user.
Over 10 last years, our Bank Negara have clamp down on the speculator on property market by introduction lower margin of end-financing on the 3rd property. The last 3 years of the lending rules based on proven income was regulated to reduce speculators and also investors.
While it is good to help the genuine house buyer to reduce the role of speculator and investor through strict lending guidelines, it also affects the genuine house buyer because the guideline is so strict that most genuine ones cannot meet the guideline due to insufficient income or poor payment record.
In the recent announced budget 2020 with the Rent-To-Own (RTO) scheme is good for the lower income group. It is very similar to staggered repayment for end-financing where 1st 5 years of repayment is for interest which as RTO is for the rent which can be lower than the interest repayment. However, the RM3 billion fund for this scheme for houses up to RM500,000 is inadequate as it would be sufficient for only 6,000 to 10,000 houses only for the whole of Malaysia.
The assistance to the Youth in purchasing their first home, the Government will extend the Youth Housing Scheme administered by Bank Simpanan Nasional from 1 January 2020 until 31 December 2021 is also good .The scheme offers a 10 percent loan guarantee through Cagamas to enable borrowers of full financing and RM200 monthly instalment assistance for the first two years limited to 10,000 home units. My reservation is that it might be inadequate for just 10,000 houses for the whole Malaysia.
For those who are in for buying a house under the incentives, it would be good to be quick to apply as we have to compete with the other 95% of the population across the South China Sea.
It also would be good for those who do not qualify for the above initiatives, Bank Negara lending policy should allow our banks to lend based on asset lending and not just based on proven income, staggered repayment for end-financing where for example the 1st 5year the repayment can be as low as serving the interest of the bank loan.
Not forgetting that the Home ownership campaign (HOC) is ongoing till 31st Dec 2019 where purchasers can get at least 10% discount with free stamp duty waiver by participating developers, it is now a good time to buy a house as it provides basic need of a shelter, always appreciate and also as a saving for our future.