1. Rental is low (you can rent short term as you familiarize yourself)
2. Interest rates are very low
3. Banks are very keen to do your business as most properties in Malaysia are freehold.
4. Property tax and capital tax is waived for the Iskandar area, etc(at least for now)
5. Some places, if you buy an expensive enough place, they also cover your stamp duties, levy and give you a golf club membership.
6. Housing is still relatively cheap and affordable there now.
7. Lower risk as compared to the bubble in Singapore.
8. While waiting for the completion of Legoland, hospitals, major government agencies will boost the area.
9. Waiting for completion of their new coastal highway linking both 1st and 2nd link, again this will boost prices.
10. Most Singaporeans still don't dare to vote with their feet.
By the way, the agent and the property guys i spoke with all own properties in the areas i am buying.
You don't need to be a PR there to enjoy it, at most come back to SG once a month even if you don't want to join their 2nd home plan. This is as we are allowed to stay there for up to a month.
Why wait and regret later?
You can just rent a place and try like some bros here said. Or buy a place, start small.
The minimum amount to start could be as low as 12-20k SGD for a terrace house(FREEHOLD) and monthly payment less than 1000 SGD. Its not unaffordable at all. I am encouraging my sister to get it as well as i feel its worth it.
We Singaporeans can spend 100-200k SGD for a car that lasts for 10 years basically but have to think and think about a house that is freehold.
I do not dare to say we will definitely succeed and that i am totally right as this are just my own views and i have always been a risk taker but i feel this time its a calculated risk which i am prepared to take. I am very gratified that so far i can confirm having 3 forummers here who have already taken the steps and 2 are already way ahead of me.
You also don't need to sell off your property in SG first, take a look around first, see if its something suitable for you. I plan to eventually rent out both SG and MY properties whilst living in 1 so i have multiple sources of income. This will make it easier for me to retire when i wish to at age 40. As some of my very smart FT friends(UK/US/Swedish/German) observed, SG is a good place to work but not to live!
I would probably need to work until age 80 if i continue living here in SG.
My view of a typical guy in the private sector:
Work hard all your life, become Senior Management/Executive at 40?
Be happy briefly from age 40-50 but cannot change jobs anymore.
Retrenched at 50-55 because of discrimination against older workers
Finding a job, 55? No comparable job, gives up, how to make ends meet?
Become Taxi driver/Security at 55?
MacDonalds cleaner at 65?
Death at 80 while probably still working at the workplace?
Slumped over some dirty tables or counters?
NOT FOR ME.
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