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I am planning to buy a condo for investment in Penang. Is this the right time to invest? What I'm looking at is straight from the developer. Please advise. I am slight worried about the unforeseen market condition. What's the advise and opinion?
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<en>David</en> <en>Wong Lai Kwong</en>
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Hi Hailey,
Nobody can forsee the property market condition which is very much influenced by the economic condition of the country. As long as there is sufficient GDP growth and wealth is sustainable, property prices should at least hold up if not increase. Having said that, the best tool is to be able to manage your finances well and be able to repay the monthly loan instalments with or without collecting a good monthly rental from the property. Do not highly borrow to safeguard against having to pay high loan interest rates when recession sets in and forced to sell at low prices. In the long run property prices will still rise and hedge against inflation and set new benchmark.
David Wong
Principal
QUANTUM real estate
mobile:+60193330573
www.quantumrealestate.com.my Read More
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