How to buy a condo with tight cash flow

Imagine you walked into a property sales gallery and fell in love with a condo on offer. You then identified a unit but hesitated when informed of the monthly installment. After some quick mental calculation, you came to the conclusion that it will be very tight on your budget, even when your level of income qualifies you to borrow from the bank. Sheepishly, you tell … Continue reading How to buy a condo with tight cash flow

4 factors that can influence the value of a property

The value of a property is determined by the following factors: LOCATION Buying a property is always about location, location, location. On top of having good accessibility and amenities (especially within walking distance to shopping malls), properties that are near the city centre or surrounded by colleges/universities/business activities (commercial areas) will always be in demand and they can generate good rental income. With the ever … Continue reading 4 factors that can influence the value of a property

RPGT (Real Property Gains Tax)

Real Property Gains Tax (RPGT) is charged on capital gains derived from the disposal of property. The keyword here is “gains”. In simple terms, RPGT is calculated based on any gains made by the seller which is the difference between the selling price and his original purchase price (plus other incidental costs) of a property. RPGT RATES: Below are the RPGT tier rates: Note: The … Continue reading RPGT (Real Property Gains Tax)

What is CCRIS?

CCRIS stands for Central Credit Reference Information System which is maintained by Bank Negara Malaysia. It requires financial institutions (includes all licensed commercial banks, Islamic banks, investment banks, development banks, insurance companies etc. to submit their customer’s credit information to this centralised system. Financial institutions will access the CCRIS system and look at the borrowers’ overall credit history with any financial institutions. They will use … Continue reading What is CCRIS?

10 things to consider when buying a condo

The following factors should be considered when planning to buy a condo: MAINTENANCE FEES Owners pay the yearly prescribed monthly maintenance fee to cover the expenses incurred in maintaining  the condo. The average rate for maintenance fees in the urban to semi-urban area ranges from RM0.28 to RM0.35 per square feet. Depending on the condo’s build-up area, facilities available and unit density, maintenance fees can … Continue reading 10 things to consider when buying a condo