Image credits: DNA

If you want to buy property and you have been holding your property purchase decision from very long time with a hope that may be in 2016 the property prices will go down, so you may be wrong because real estate experts are saying that it is expected that property prices will not go down in the year 2016. Now real estate experts are suggesting that you should not wait anymore and you should start to buy property as soon as possible because in coming days property prices will go up because wages of labour, cost of construction and price of material would consistently go up over time.

According to Faizul Azwan Ridzuan, Chief Executive Officer and Founder of FAR Capital, “It is not expected that property prices will go down since we all know that housing is the basic need, but still its important to know that how to buy and when to invest in the property”. At the Press Conference of MyRumah Property Showcase, Faizul Azwan Ridzuan stated that I bought my first property at the age of 24 in RM140,00 and now the price of property is RM450,000. The more he added that the price of developing properties will always go up as per inflation. Faizul is the guy who is the writer of bestselling book on property investment and before being a real estate success story he was fulltime employee. However; in present, he prefer to share his experiences related to property investment decisions and he help the buyers by clearing their misconceptions about property decisions. He said government is not responsible for rising cost of properties because political uncertainty cannot be the factor.

About MyRumah Property Showcase:

These days property is becoming the viable investment option, so end customers should know the rules, regulations and strategies related to property investment process. Andaman Group and NST is glad that they are collaborating with each other and has arranged wide range of topics, which would be presented by the selected speakers with an aim to help the public in property investment decisions. Datuk Seri Vincent Tiew, Managing Director of Andaman Group, lauded the New Straits Times Press (M) Bhd Group for making the public aware of choices in property buying and investment. It could be the conventional and commercial property exhibition, if these showcase will had money making purposes because these property exhibitions are showcasing the hundreds of booths. If you think that you can find many exhibitions or seminars like that, so you are probably wrong. If you are the one who is looking for affordable property in Malaysia, so there are fee housing schemes such as; 1Malaysia People’s Housing Program and other affordable housing schemes where one can find affordable property in budget.

Date and Timings of MyRumah Property Showcase:

MyRumah Property Showcase which was organized by NSTP with the help of Andaman Group is non-commercially program which is targeting the first time buyers. This three day event will be held from Jan 8 to Jan 10 and it will be open from 10 am to 6 pm at the location Balai Berita, Bangsar, in Kuala Lumpur. If you want to visit MyRumah Property Showcase, so here admission is free and you can find ample of parking spots.

Hyderabad Karnataka Chamber of Commerce and Industry

The HKCCI (Hyderabad Karnataka Chamber of Commerce and Industry) has taken stand against the proposal of State Government which was about to increase the guidance value of the real estate property in Kalaburagi region without any set of guidelines. A written objection which was filed by HKCCI before Chief Controlling Revenue Authority in Karnataka, Inspector General of Registration and Commissioner of Stamps and Amarnath Patil, Secretary of HKCCI, pointed out that there are many shortcomings in proposal which is related to increase the guidance values of the real estate property in Kalaburagi city.

Amarnath Patil, Secretary of HKCCI stated that we request to publish the notification in newspaper for the increase in guidance value to receive the opinion or objection of public because till now no such notification has been published in newspaper related to increase in guidance value. The more he added that it is neither legal nor authentic to submit the proposal or raise the guidance value of property, if anyone is fighting against it and asking to drop the proposal to meet the justice. According to Amarnath, the existing rates of real estate property in that particular region are as per the book value of the sub registrar and it is more than the market value of the property in Kalaburagi.

Due to low pace in real estate market currently there are no buyers for the property at the market value, and if we will allow the state government alone to fix the property price on higher side, so it will be not tenable. The more he added that the guidance value of property in Kalaburagi city was revised two times in July 2013 and December 2014 and there is no space for the third revision in such a short period.