Real estate prices in the country are possibly plummeting as much as 10 percent due to the COVID-19 pandemic and its resulting Movement Control Order (MCO). As such, citizens under the B40 and M40 groups are advised to seize the opportunity of purchasing them in the foreseeable future.
The managing director of Mimbar Nusantara Homes Sdn Bhd, Nazrin Cheong Abdullah urged youths today to invest in real estate as they are now offered at much lower rates.
“Majority of the younger generation now are always facing finance management issues,” he said in his office today on June 24.
“They always purchase cars before real estates,” Nazrin posited.
He advised, “However, if they are intent in purchasing real estate, they will need to do so at the current lower offers, so that they will obtain much more returns should they sell it in the future.”
In a related development, Nazrin said that the company is involved with the ‘Rumah Perakku’ project by the state government and Perak Housing and Property Board (LPHP).
133 house units under the project located at Tanah Hitam, Chemor are currently offered at RM90,000 per unit.
The project is divided into three phases. Currently being sold are 200 single-storey terrace house units, with starting price of not more than RM180,000 per unit and 150 double-story terrace house units, with starting price of not more than RM320,000 per unit.
“So far, more than 5,000 individuals under the B40 group have registered with LPHP to purchase the houses,” Nazrin stated. “They will be interviewed and voting will be done for those who qualify.”
Special feature of the houses built by the company is their position that faces away from the sun’s glare.
“The houses are designed to face either north or south so that sunrays do not directly penetrate into them,” he explained. “Besides that, the residential area will be built with various amenities such as jogging tracks, playground, recreational parks with ponds and much more.
“Two different house designs will be built for variation. The project is expected for completion in 2023,” Nazrin expressed.