Is now a good time to buy property?  This is a question that everyone has been asking with the uncertainty of job security, economy and maybe the second or third wave of Covid-19. A simple answer to this is yes, if you have the financial means to do so.

We do not have crystal ball and no one can tell us where is  the lowest or the highest. The same as stock market where we do not know how low, we can enter and how high we can sell. It is the indicators that led us to make a decision to sell or buy.

On property market, as we can see lately, there are some Government initiatives in spurring economic growth. These are some indicators for us to ponder if now is a good time to buy or not.

  • Reintroduction of Home Ownership Campaign (HOC) for residential projects
  • Waiving of Memorandum of Transfer (MOT) up to RM1 million
  • Loan stamp duty full waiver
  • Min 10% discount by Developer
  • Loan margin increase for third property on wards
  • Reduction of Base Lending Rate at banks with the reduction of Bank Negara’s Overnight Policy Rate cuts.

Considering without having all this, it is an additional cost, the buyer has to fork out, instead of reserving the money for renovation and other moving cost.

It is expected, Covid-19 effect on businesses and consumer spending affecting economy will last for a year or two. Hence, the campaign introduced by Government will end on December 2021. No one knows what will happen after 2021, but to take this opportunity whilst, the policy is effective. Base on the BLR rate tabulated by  (see below diagram),  in 1998, it is the highest ever in 25 years with 13.53% compare with present rate we have now.

I still remember me, serving my housing loan on 1998, with that huge rate from banks. During that recession time, the pressure is great in servicing the loan as well as holding tight to my 9-5 job. If there is a moratorium of 6 months introduced on 1998, I would surely take it up!! But unfortunately, there is  none.


I do not see there will be a sudden increase of Base lending rate for the next few years to come. Hence, the present rate is the best ever to take this opportunity.

Aside, the initiatives from Government and developer, one should try to leverage on the increasing inflation rate and utilizing other people’s money concept (OPM) is securing assets.Read more on the 3 Basic rules of investing here. For those looking for own stay or planning to get married soon, it is a good time to get a good deal from the latest Government’s initiatives.Aside this, I assume, property developer will also provide attractive packages or freebies in getting new buyers and reducing their stocks.

Attractive mixed development in Kuala Lumpur that worth to look at is Millerz, located at Old Klang road. With the developer residing at one of the tower and international art college, it is surely a plus point in securing a unit there. Interesting projects at Central Park Damansara and Bukit Jalil are also.

In summary, if your finance is within your means and, based on the historical experience, I would say, now is the best time to own your own home. So, is now a good time to buy property? Do your own homework and budgeting and, search for your dream home. Points for you to ponder:

  • Reputable Developer
  • Location
  • Surrounding Amenities
  • Accessibility to public transport and highway
  • Overall development concept offered
  • Price and budget

PS: This is writer’s opinion in the present situation. Do your own due diligence in securing your own investment and own home. Happy buying.

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