Located just 12km away from the Kuala Lumpur City Centre and 10km away from Petaling Jaya, Kepong has established itself as a developed township with its excellent connectivity and ideal mix of commercial and retail space. We understand that some purchasers may still be on the fence after the pandemic impaired economy of 2020 which taught us the importance of prudence, with some even delaying major purchases like buying a house. While such vigilance is not unfounded, the gradual resumption of business activities and the eventual rollouts of vaccinations have helped restore confidence.
In every crisis, there is an opportunity. In the case of Kepong’s new property in 2021, there are 2 crucial observations that we will with you and help you make that leap of faith.
“Until you spread your wings, you’ll have no idea how far you can fly”– Napoleon Bonaparte
New Project in Kepong: Launching at the Right Timing
With the pandemic highlighting the vulnerability in our system and the subsequent patching works, it is an opportunistic time to capitalize on relooking in the property market in Kepong. Various property developers have been aggressively launching innovative campaigns that offer discounts, rebates, freebies, and attractive financing schemes that tilt towards buyer’s favour. Beyond the marketing efforts by the property developers, the government has also initiated and extended several incentives; most prominently the extension of the Home Ownership Campaign (HOC) until the end of 2021.
The HOC is a government initiative designed to support homebuyers looking to purchase a property. To refresh memory on HOC, among the notable benefits that it offers are:-
- Full stamp duty exemption till RM1mil for purchase of residential homes priced between RM300,000 to RM2.5mil
- Exemption on the instrument of transfer for the first RM1mil of the property price
- Full stamp duty exemption on the loan agreement
A new project that costs RM400,000 in Kepong will effectively save you around RM13,000 under HOC. If this is not enticing enough, we assure you that you will change your mind by the end of this article.
Purchasing Kepong Property with a Record Low-Interest Rates
No thanks to expansionary measures by the central banks, interest rates in Malaysia are currently at a record low of 1.75%. The last time it fell as low as 2.00% was during the subprime crisis of 2008, you can imagine the severity of the events that actually unfolded to result in the current interest rates. Like we previously mentioned about the opportunity in every crisis, the same can be applied here. Although veteran home buyers may be already aware of this, new home buyers are probably unaware of the impact of compounding of interest, and such will likely underestimate the current record low rate.
Let us illustrate it to be clearer: A loan amount of RM500,000 with a tenure of 30 years will result in a net interest saving of RM45,960.39 from a mere difference of 0.50% in interest rate. Such bountiful interest saving can be used for many purposes, among them are renovating your dream house, an opportunity that is hard to come by as recent as 5 years ago.
Kepong Property In Demand: Mah Sing’s M Luna
Uniquely tailored to each buyers’ financing structure, M Luna is also a participating project in Mah Sing’s Eazy To Own Campaign, which offers the Maybank Islamic HouzKEY, an innovative financing solution that is designed to provide buyers with an easy entry of up to 100% financing and lower monthly installments.
All of the above incentives combined will offer prospective buyers an irresistible deal that can be had from a starting price of RM385,000 per unit, or approximately RM550 per sq ft for this Kepong project by Mah Sing. Designed to provide full immersion through the luxury finishes, M Luna is the new pride of Kepong with specially crafted amenities including the latest charging stations for electric vehicles (EV), suitable for even the trendiest young working professionals. Strategically located just next to the MRR2-Jalan Kuching interchange, residents also enjoy excellent connectivity to the rest of the city. Given such timing and expectations, M Luna is an attractive proposition that comes once in a blue moon, grab it while it is still available!
Citations:
https://www.propertyguru.com.my/property-guides/home-ownership-campaign-hoc-2020-all-you-need-to-know-15274
https://www.calculator.com.my/home-loan-calculator#.YLebuvkzaUl
https://www.goalcast.com/2018/12/06/napoleon-bonaparte-quotes/
https://www.propertyguru.com.my/new-property-launch/reviews/m-luna-kepong-206633#project
