Recovery insight for property market, says Mah Sing chief

Recovery insight for property market, says Mah Sing chief

Mah Sing Group Bhd believes that consumers will regain the confidence to spend on big-ticket items such as properties as more segments of the population are being inoculated and businesses prepare to re-open.

Its founder and group managing director, Tan Sri Leong Hoy Kum firmly expects that purchasing power from households will gradually improve and there will be pent-up demand for affordably priced properties at strategic locations.

Leong said the Home Ownership Campaign which has been extended until December 31, 2021, will provide further relief for buyers.

He said the HOC coupled with the multiple rounds of Overnight Policy Rate (OPR) cut to a record low of 1.75 per cent has made it more affordable to own a home now and is beneficial for the property sector.

"We remain positive on the mid to long-term outlook of the sector supported by strong fundamental demand for properties due to the young demography," said Leong.

According to the PropertyGuru Consumer Sentiment Study H1 2021, despite the ongoing Covid-19 pandemic, the buying sentiment among Malaysians remains strong and the majority are still looking to own a property this year.

The study also found that one-in-three Malaysians intend to continue with their property purchase.

As for buying intention in 2021, the study revealed that one-in-three Malaysians, especially the younger generation, intend to continue with their property purchase.

Mah Sing has introduced its "Mah Sing NOW" campaign, a three-pronged approach for buyers who wish to own residential and/or commercial properties in the central, northern, and southern regions.

Leong said the campaign coincides with the country's ongoing vaccination programme whereby property buyers will be able to enjoy "THREE DOSES" of homeownership boosters, namely Own Now, Zero Now, and Save Now, for selected units in several participating projects.

The first "dose" is Own Now and the Mah Sing NOW campaign offers easy entry for buyers, facilitating easy loan approval with Maybank Houzkey.

This is followed by the second "dose", Zero Now where the approach offers zero payments for buyers such as zero down payments, zero payment during construction, zero legal fees on sales and purchase agreement (SPA) and loans.

The third dose, Save Now will see the campaign providing big savings with up to 50 per cent off the monthly payments, savings on MOT (Memorandum of Transfer), and free furnishing.

There will be a cash incentive for buyers who can prove that they have been vaccinated or have registered for vaccination.

Mah Sing group chief executive officer Datuk Ho Hon San said that based on the group's internal studies, it is found that people still want to have their own 'dream home', but are put off by cash-flow and economic stability concerns.

"First-time homebuyers want to buy a completed property, but find that the sub-sale market brings with it a fair amount of risk and inconvenience. The journey to own property can be a challenging one especially for them. We hope the three doses of homeownership boosters under Mah Sing's NOW Campaign namely Own Now, Zero Now and Save Now will ease further their property ownership journey," said Ho.

Mah Sing's NOW campaign is ongoing until September 30, 2021, and covers the group's completed residential and commercial projects, and those under development.

The participating projects in Klang Valley are M Luna, Kepong (high-rise residential), M Vertica (Tower A, B, C, D, E), Cheras (high-rise residential), M Adora, Wangsa Melawati (high-rise residential), M Centura, Sentul (high-rise residential), M Oscar, Off Kuchai Lama (high-rise residential), M Arisa, Sentul (high-rise residential), M Aruna (Carya), Rawang (two-storey link homes), Sensory Residence (Tower A) @ Southville City, KL South (high-rise residential), and Cerrado Suites @ Southville City, KL South (high-rise residential).

In Johor, the developer is offering Meridin Bayvue serviced apartments, Sierra Perdana (high-rise residential), Meridin East (1H-Hazel, 1F2-Orchid, 1I-Acacia), Iskandar Puteri, Johor (two-storey link homes), Meridin Medini Condo, Iskandar Puteri, Johor (high-rise residential), Meridin Medini SOVO, Iskandar Puteri, Johor (high-rise executive suite), Meridin Medini 1 Retail, Iskandar Puteri, Johor (lifestyle retail mall), iParc, Tanjung Pelepas (factory/ industrial units, shops), and Ixora Park City @ Meridin East, Pasir Gudang (commercial centre).

In Penang, there is but one project offered under this campaign that is Ferringhi Residence 2, Batu Ferringhi featuring high-rise residential.

Source: NST.com.my

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