{"url": "https://ohmyhome.com/en-my/blog/3-things-remember-when-selling-your-first-home/", "title": "3 Things to Remember When Selling Your First Home", "body": "Selling your first place is the kind of milestone that calls for celebration once the papers are signed, the keys are handed over to the new owners, and you\u2019re ready to start a new life in a new place. However, before all that can happen, there are a few important things that any first-time home seller should know.\nDon\u2019t know where to start? We\u2019ve compiled a list of five things for you to keep in mind to make the home selling process happy and stress-free. \n1. Get the help you need\nSelling your house can be a long and trying process. It can feel like a lot of work really quickly without professional help. Don\u2019t make things complicated for yourself just to save some money \u2013 as they say, you have to spend money to make money . \nWhy hire a real estate agent?\nYou\u2019ll have peace of mind when you\u2019re working with an agent you trust, where communicating with about selling your house comes easily. The agent you decide to employ should be reputable and experienced. You\u2019ll need to do your research and interview potential candidates, which can be time-consuming. \nWhy not go for a smarter, simpler, and time-saving route? Find the perfect real estate agent for you through Ohmyhome\u2019s agent service. Our knowledgeable agents will provide you with insight into the current property market in your area and advise you based on current and accurate data regarding the current housing climate. Friendly and approachable, our agents take care of all the necessary and often complicated documents that need to be filed while keeping you in the loop. \n2. Invest in improving your home\u2019s appearance\nDepending on the market at the point of time you decide to put your house up for sale, the demand and supply can change. This is why it\u2019s important to make sure you create an appealing look and feel before any house viewings if you want to sell it for top dollar.\nThe importance of decluttering\nIf you haven\u2019t moved out of the home you\u2019re selling, it\u2019s important to make sure that you declutter all the bedrooms and shared spaces such as the bathrooms, living room, dining room, and kitchen. Don\u2019t forget those junk rooms and closets. Decluttering also means cleaning the spaces. \nDuring a house showing, potential buyers would often like to see all the nooks and crannies of your house. Nothing is off-limits, so a clean home is a must. Plus, it will make it easier for potential buyers to see the amount of space they will have once the home is theirs. You should also remove personal items, such as family photos, to help potential buyers imagine themselves living there. \nLooking for a way to show your property during the Movement Control Order? Consider \nvirtual tour\n, which you can do on your own. You can also upload your video home viewing on the Ohmyhome platform.\nRepairs and improvements\nHave you been ignoring the chipped paint in the living room, rusty gates that should have been oiled months ago, and the doorknobs that don\u2019t lock? Before you invite potential buyers into your home, take a walk through and make note of everything that needs some TLC. You don\u2019t have to do any major remodeling, just change old light bulbs, fix anything damaged, and make sure the plumbing is all good. You should also note that any problems should always be disclosed to potential buyers. \nAn extra step you can take is repainting the house in a neutral tone, getting the grass cut, and planting some flowers if you have a yard. Again, remember you have to create curb appeal, showing the potential new owner that this is a beautiful and clean space to live in. You should keep in mind that even after the contract is signed, you\u2019ll still be spending money fixing a few things here and there until you walk away for the last time. \n3. Prepare your exit ahead of time\nIt\u2019s important to remember that once you\u2019re sure that you want to sell, every decision you make regarding the house or apartment is a business decision. You have to keep in mind that you\u2019re about to sell property, not a home. So, it\u2019s best to minimise any emotional attachment and avoid having it influence your decisions.\nSpecify what you\u2019re leaving behind\nSome things are specific to the house like furnishings and fixtures. It can be very tempting to take a light fixture that came with the house because of the memories associated with it. However, anything that is affixed to the walls, floors, or ceilings of the house is considered part of it. Consider leaving it behind because it could be a selling point. But if there is something that you do want to take with you, something you put into the house, make sure you put it in writing that you\u2019ll be taking that with you. \nEstimate the potential profit and loss\nYour heart will surely start to race as all the offers start to come in. But before reviewing any of them, you should have a firm understanding of the cost that you\u2019ve spent or will continue to spend on selling this house. \nThe acceptable selling price should range somewhere on the line of your evaluated gains and losses. Keep in mind the legal fees and Real Property Gain Tax (RPGT), as well as the additional settlement charges on top of the repairs and landscaping you\u2019ve already done. If your mortgage is still going on, the payment will have to cover it. \nCurious about our \nagent services\n? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/4-aspects-sentul-attract-property-buyers-my/", "title": "4 Aspects of Sentul That Attract Property Buyers", "body": "Visit Sentul five years ago, and you will be met with the relics of history \u2013 old colonial buildings within a highly matured neighbourhood. Once upon a time, Sentul was the home and workplace of thousands of railway workers, housing one of the biggest industrial undertakings in Malaya.\nHowever, visiting Sentul today is a different story. You will be met with soaring skyscrapers, architectural landmarks, and modern districts that still retain their cultural and historical roots, such as the well-known Kuala Lumpur Performing Arts Centre.\nAlmost two decades ago, Sentul received a multi-billion ringgit urban renewal project to upgrade or replace the old infrastructure and buildings left over from the colonial era. The 294-acre land was divided into Sentul East, which is comprised of commercial districts, and Sentul West, which consists of residential buildings.\nNow, Sentul is home to multiple new luxurious condominiums and tall office buildings, forever changing the city\u2019s skyline. Despite Sentul\u2019s rapid development, there are more residential building projects in the pipeline. \nWould you like your new home to be part of the ebb and flow of a changing city?\nWhy You Should Invest in Property in Sentul\n1. Easy Access\nNestled between Setapak and Segambut, Sentul is easily accessible to both Kuala Lumpur and Petaling Jaya. Throughout the years, Sentul has improved on its accessibility to various parts of Klang Valley, namely through major roads such as Duta-Segambut Highway, Damansara-Ulu Kelang Expressway (DUKE), and the Sentul Link.\nIn addition to that, Sentul is also well equipped with public transportation systems such as the Sentul LRT station serving the Ampang line. In fact, Sentul LRT station bears a similar name to the Sentul Komuter station, which serves the KTM Commuter line.\n2. Variety\nThere is no such thing as a perfect property; only the right property for the right homeowner. But in Sentul, buyers are spoilt for choice.\nTowards Bandar Baru Sentul, there is a blended mixture of affordable housing and modern high-rise apartments for those who value being close to the Kuala Lumpur City Centre. \nLiving at Taman Sentul Jaya, or Sentul Garden, brings residents close to the DUKE highway, providing easy access to Segambut and further down to Petaling Jaya.\nLiving near the North brings residents close to the greenery and serenity of Metropolitan Batu Park, where residents can exercise or host picnics and weekend family getaways.\nNot to mention, there is also the Sentul Raya Boulevard with its picturesque modern skyline. An iconic building \u2013 The Fennel \u2013 is the landmark of the entire district. There is a home for everyone in Sentul, regardless of your economic background, race, or culture.\n3. New Projects\nIt pays to be reminded that transformation within Sentul is still on-going, with many new residential projects propping up within the area.\nEnter iconic projects like \nM Arisa\n and M Centura from one of Malaysia\u2019s top developers \u2013 Mahsing. Each property has a heavy emphasis on greenery and affordability, respectively. M Arisa is equipped with a rainwater harvesting system, which is automatically filtered and supplied to each unit within the Building, along with EV charging stations for electric vehicles.\nParallel to that is M Centura\u2019s affordability, starting at a mere RM350,000 for a prestigious address within Kuala Lumpur. Despite its price, it still delivers in value, sporting an Olympic-length swimming pool, vertical planting and tree preservation, and even a co-working space as well.\nHigh-rise condominiums are not the only name of the game in the area. Impiana Sentul Bahagia 2 is also a newly completed low-density development consisting of three-storeyed linked houses.\n4. Affordability\nAccording to data retrieved from Brickz.my, residential properties within Sentul have consistently been below the median average of properties within Kuala Lumpur for the past half-decade.\nProperties within this district are priced at a median average of RM380,000, or about RM372 per square feet. However, looking at the graph reveals that prices have stabilised in recent years with less volatility, and have steadily caught up to the median average of property prices of Kuala Lumpur. \nAssuming that you are looking at buying a RM380,000 property in Sentul, here\u2019s what you can expect to pay. Homebuyers considering obtaining a 35-year mortgage at the current low-interest rate of 3.75%, with a 10% down payment, are looking at a monthly commitment of about RM1,500. \nThis amount is definitely within reach of an average university fresh graduate or a young couple planning to start a family.\nSentul is the ideal home destination for bachelors, young couples and established families. Sentul\u2019s unique inclusiveness also reflects its diverse community of residents. If you appreciate its distinctive qualities that\u2019s unlike anywhere else, be sure to check out the residential projects in Sentul.\nLooking for a brand-new home? Talk to our real estate consultants and get VIP agent service!\nWith Ohmyhome\u2019s \ntrusted agent services\n, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole.\nCall +6016-299 1366 today."}
{"url": "https://ohmyhome.com/en-my/blog/5-different-ways-invest-real-estate-my/", "title": "5 Different Ways to Invest in Real Estate", "body": "For an investment asset class as old as humanity itself, real estate has witnessed countless evolutionary changes. From brick and mortar to glass and steel; low-lying mud huts to giant structures that literally \u201cscrape the skies\u201d, change is imminent. As investors, we should always be prepared for what comes next.\nProperty ownership has also undergone significant changes as well, with new and complicated ways of investing in property outside of conventionally owning a piece of real estate. Today, we will explore alternative real estate investment options that are accessible to retail investors like you and me.\n1. Real Estate Investment Trusts (REITs)\nBuying property poses a high barrier of entry for most retail investors, especially for fresh graduates and low-income groups that have difficulty applying and servicing a mortgage loan. \nA single piece of real estate will take a huge chunk out of any buyer\u2019s savings, effectively binding the investor financially from other asset classes like stocks and bonds. The inflexibility in choices might dissuade investors from investing in property, as is evident from millennials who would rather rent for life instead.\nREITs might be the solution to the conundrum. REITs are companies that own and typically operate multiple real estates, which generates rental income that is distributed back to investors. \nSimilar to a property\u2019s rental yield and capital appreciation, investors are keen on the REIT\u2019s stock prices, but more importantly, the dividend or distribution yield, which is higher than most fixed deposit accounts on average. As of early 2020, investors can expect a distribution yield of about 5-7% on average.\nREITs are also a great way to diversify your risks, as investors are exposed to multiple properties across different locations. Some REITs might even focus on a particular sector, giving investors some degree of control when crafting their investment portfolios.\nAn example is Al-\u2018Aqar Healthcare REIT, which primarily invests in hospitals.\nWhat makes REITs so attractive is that they have a significantly lower barrier of entry relative to buying physical real estate. A single share can go as low as RM0.50, and a lot (x100 shares) costs only RM50. This is in stark comparison to real estate that has a starting price in the six figures.\n2. Investment Holding Companies (IHC)\nMost property investors invest in properties under their own personal capacity. Some married couples may even decide to buy properties individually without joint ownership or loans in order to take advantage of several of Malaysia\u2019s tax laws and lending guidelines.\nInvestment holding companies (IHCs) are an extension of that concept. IHCs are companies that are set up solely for investment purposes and have the capacity to borrow loans and pay taxes. More importantly, the IHC is considered a separate legal entity from its owner, meaning that shareholders are not liable for the IHC\u2019s debt.\nTake the example of Mei Lin, an avid property investor with five properties under her portfolio that were bought using loans. In this scenario, it is difficult for her to obtain future financing because the bank will classify her as a high-risk individual and would probably offer her a loan-to-value ratio of below 50%.\nMei Lin could choose to set up an IHC and refinance her properties to the IHC. This will automatically reduce her risk levels, freeing up her \u201cquota,\u201d and allowing her to obtain better financing options for future property purchases.\nHowever, due to how IHCs are structured, it is not effective at managing a portfolio that primarily consists of residential properties. The upkeep required to maintain an IHC is significant as well; hence, investors are discouraged from establishing an IHC unless they have a sizable property portfolio \u2013 in the millions.\n3. Syndicates\nOne spin-off from IHC is the idea of syndicates. It is not uncommon to find property experts or gurus establishing VIP clubs or exclusive premium memberships where only a select few wealthy individuals are able to join.\nWith the leverage of multiple investors behind their backs, these experts are able to approach the property developers directly to secure better deals that are not available to most public homebuyers. It is not uncommon to find these groups securing an entire residential block, or even entire building projects as a whole.\nWhile syndicates might not necessarily use IHCs to conduct their operations, most of them generally do, considering the liability issues involving millions of ringgit. Note that there is an element of trust when investing via a syndicate because the risk levels are significantly higher. On the plus side, there\u2019s an equally significant payoff.\n4. Land\nA piece of land is not entirely worthless, even without a building perched on top of it. Similar to physical properties, land prices can range wildly as well. Agricultural land in the city outskirts can have prices as low as RM10 per square feet, but a residential lot within an urban city centre could fetch millions.\nInvesting in land is slightly different from property. You will most likely eventually sell the land to a property developer or large corporation, which changes the buyer-seller dynamic significantly. \nThere are many benefits to investing in land, with one of the biggest pull factors being the minimised risk. As mentioned by financial expert KC Lau, even if a bomb exploded on your land and obliterated everything, it is still effectively land. In fact, you might even save contractors a bit of trouble in excavating the ground.\nLand also does not require maintenance. While a developer can build and rebuild properties on the same piece of land perpetually, land is a truly limited resource.\nThe biggest downside, however, is the inability to collect rent on what is effectively barren land, unless you put some work into it. Several property developers have temporarily converted their land into parking lots to collect rental income until they have figured out what to do with it. Some may buy land with the intention of converting it into a parking lot.\nRegardless, just because there aren\u2019t any buildings erected on the piece of land, there are still opportunities to profit, both on and underneath the land you own.\n5. Physical Property\nPhysical properties are still the tried and tested way for most investors. According to the Knight Frank Wealth Report, properties make up the second-highest allocation in most ultra-high net worth individuals, right behind equities.\nLooking at the Forbes lists all across the globe, you will be hard-pressed to find an investor that has yet to significantly invest in real estate. Many of them have built their entire fortunes on physical real estate alone. \nThe key advantage of investing in physical properties is control. While many may argue that the property is effectively \u201cowned\u201d by the bank until the mortgage loan is fully served, investors have the sole discretion of what to do with the property however they please \u2013 within the boundaries of the law, of course.\nProperty owners may choose to rent the property to whomever they please, decorate and renovate the property to their liking, or even choose to reside in it as their \u201cforever home.\u201d While the investment risk may fall solely onto a single property, real estate has proven to be stable across different economic cycles and market conditions. Time and time again, real estate has outperformed other investment classes.\nPhysical property is also the most likely to generate the most returns, with many stories of young investors controlling an empire of real estate through effective rent control, debt control, and smart exits via the selling of property.\nAll investments, regardless of the asset class, hold different degrees of risks in exchange for various forms and levels of returns. There are no perfect investment asset classes, only the right ones specific to your unique needs.\nWe would like to clarify that we do not endorse one investment method over another, and readers are advised to conduct their own extensive research before committing to an investment asset class.\nLooking to invest in real estate in Malaysia? Ohmyhome specialises in facilitating the selling, buying, renting or tenanting of physical properties.\nThrough our \nagent services\n and \nproperty listing platforms\n, our users are confident that they are able to secure the best deals available on the market. For new property launches, we source deals directly from the property developers, giving customers the best bang for their buck.\nLet us join you in your property journey today! Contact +6016-299 1366 or visit \nOhmyhome\n today!"}
{"url": "https://ohmyhome.com/en-my/blog/6-things-check-signing-sales-and-purchase-agreement-spa/", "title": "6 Things to Check Before Signing the Sales and Purchase Agreement", "body": "For most \nhomebuyers in Malaysia\n, the sales and purchase agreement (SPA) is one of the most important documents ever to be signed, marking a significant milestone in their lifetime.\nThis is especially true when you consider that Malaysia adopts a \n\u201ccaveat emptor\u201d ruling\n, a Latin term that means \u201clet the buyers beware.\u201d \nWhat it means is that the buyer assumes all the risks when it comes to the purchase of the property. After the SPA is signed, the homebuyer cannot request any compensation from the seller for any faults or repairs after the fact, unless it is stated otherwise in the SPA.\nHence, the SPA is not just a document that signifies the ownership transfer of a property (along with several other documents); it also ensures your rights to the property as well. \n5 Key Details Within a SPA\n1. Property type\nThe SPA should clearly state the property type: residential, commercial, or industrial.\nIt is important to understand the differences, as it will directly affect many aspects of homeownership: utility bills, loan-to-value ratio, property taxes, quit rent, land valuation, and so on.\nWith the rise of mixed development properties, the line between residential and commercial property has been blurred. Hence, it is important to pay attention to the legal classification written in the SPA.\n2. Land title and tenure\nThe SPA will also clearly state if your property is a freehold or leasehold property. Also, pay attention to the land title indicated in the contract. \nFreehold vs. leasehold property\nSimply put, a freehold property means that the home buyer will have the rights to the property in perpetuity (forever). \nA leasehold property means that the home buyer effectively \u201cleases\u201d the land from the government for a period of time. This means that the lease has to be renewed every few decades to ensure that you have continued rights to the land.\nLand titles\nA master title is typically given to property developers and landowners at the time of property developments.\nA strata title, in extremely simplified terms, is where individual properties form a collective larger shared development and is usually given to property owners of high-rise buildings. \nAn individual title is typically given to landed properties, where the owner is the only sole party responsible for the land the property is built on.\n3. Vacant possession\nVacant possession is a term that refers to the seller\u2019s obligation to ensure that the property is suitable for occupation. \nWhen can you expect vacant possession and the key handover? \nFor landed properties under construction: within 24 months after signing the SPA \nFor high-rise properties: 36-48 months after signing the SPA \nHowever, a common misconception is that the homebuyer becomes the official owner of the property the moment they receive the keys.\nThat is not necessarily true. The homebuyer will officially become the owner of the property the moment they have received the property title mentioned earlier, i.e. strata title or individual title.\n4. Liquidated damages\nWhat happens if the property developer has yet to pass you the keys to the property, or even complete the construction of the property after the stipulated vacant possession date?\nThis is where liquidated damages (LAD) comes into play, where the developer has to compensate the homebuyer for the late delivery of vacant possession. This section of the SPA will clearly detail the terms of the compensation. It is a key part of ensuring the rights of the buyer of a property under construction.\n5. Defect liability period\nEssentially a \u201cwarranty period\u201d for newly developed properties, the developer would have to repair any faults in a property free of charge throughout the defect liability period (DLP).\nThe SPA will clearly state the duration of the DLP, which usually lasts for 6-12 months, and the defects covered by the DLP.\nBonus: Lock-in period\nThe lock-in period determines the duration where you must maintain the loan with the bank, which usually lasts for three years. Paying the loan back fully within this time period will usually incur penalty charges.\nThe lock-in period is usually found within the loan documents rather than the SPA. However, it is still an important element to pay attention to if you plan on selling the property quickly for a quick profit after purchasing it.\nDon\u2019t let the huge stack of paperwork and the legal jargon intimidate you. Make sure you scrutinise the SPA before signing. In most cases, going through all the nitty-gritty details will save you a lot of trouble later on.\nHere is the best tip of all: why not let a trusted property agent guide you through the entire process of buying a home?\nLooking to buy property in Malaysia?\nHere at Ohmyhome, our team of trusted agents will take care of your home buying journey from search, mortgage advisory, deal closing and all the way through to legal conveyancing.\nVisit \nOhmyhome\n today to find out more! Or call +60 16-299 1366"}
{"url": "https://ohmyhome.com/en-my/blog/additional-rm10b-smes-under-prihatin-package-and-wage-subsidy-programme/", "title": "Additional RM10b for SMEs Under the Prihatin Package and Wage Subsidy Programme", "body": "Malaysia has implemented a nationwide Movement Control Order from 18 March, this order is enforced under the Control and Prevention of Infectious Diseases Act 1988 and the Police Act 1967. \nOn March 27, the RM250 billion Prihatin Rakyat Economic Stimulus Package (Prihatin) was announced. The government has allocated an additional RM10 billion for Small and Medium Enterprises (SMEs) under this stimulus. \nWage Subsidy Programme\nThe wage subsidy would benefit 4.8 million workers with a monthly income of RM4,000 and below.\n*Companies with 75 workers and less would receive a RM1,200 wage subsidy for each local worker.\nCompanies with 76 to 200 workers would get a wage subsidy of RM800 for each local employee.\nCompanies with more than 200 workers would get RM600 for each local worker.\nAn additional RM7.9 billion has been allocated to the Wage Subsidy programme, an increase from the original RM5.9 billion allocation to RM13.8 billion. This includes Additional allocation included a total of RM2.1 billion in grants that would be channelled to micro-businesses registered with the Inland Revenue Board (IRB) as of January this year.\nThis special stimulus package aims to ease the burden of Malaysian SMEs amid the COVID-19 pandemic. Prihatin is expected to \ncontribute an estimated 2.8%\n to the country\u2019s Gross Domestic Product (GDP) this year.\n\u2014\nIf you are thinking of buying, selling, or renting property while the Movement Control Order is in effect, don\u2019t worry! You can do property transactions from the comfort and safety of your home? Download the Ohmyhome mobile app from the \nPlay Store\n or \nApp Store\n.\nCall +60 16-299 1366 to find out more.\nSource:\nNew Straits Times "}
{"url": "https://ohmyhome.com/en-my/blog/bite-sized-property-news-bank-negara-grants-grace-period-loans-my/", "title": "Property News: Bank Negara Grants Grace Period for Loans", "body": "Bank Negara Grants Grace Period for Loans\nStarting 1 April 2020 for six months, Bank Negara is granting an automatic moratorium on all loan or financing payments for individuals and small and medium-sized enterprise (SME) borrowers. This is part of the bank\u2019s new measures to assist borrowers experiencing temporary financial constraints due to the \nCOVID-19 outbreak\n.\nBank Negara is also working on measures to help households and businesses. On top of that, the bank will continue to provide daily ringgit liquidity to banking institutions through its open market operations \u2013 this includes requirements on lending to the broad property sector, which will be uplifted with immediate effect.\nSource: \nThe Star\nLearn more about how to \ntake advantage of the Overnight Policy Rate (OPR) Reduction\n. Looking to buy a property? \nBuy your dream home seamlessly\n with Ohmyhome.\nCall +6016-299 1366 to learn more now!"}
{"url": "https://ohmyhome.com/en-my/blog/buyers-seek-bigger-more-functional-homes-after-mco/", "title": "Buyers Seek Bigger, More Functional Homes After MCO", "body": "Written by:\n Guo Zhenhao\nDesiring to live closer to work used to be a given. Who wouldn\u2019t love shorter commute hours and more downtime? \nGardening Spaces Now a Sought-After Feature\nA UK survey revealed that 63% of potential home-movers want access to gardening spaces within their homes. When viewing new property, buyers used to look at kitchen photographs to judge if they wish to buy homes. But recently, property agents have been receiving more requests to view pictures of gardens and outdoor spaces.\nBuyers Demand More Functional Space In and Out of the Home\nThe 43% of prospective buyers wish to live in bigger property, and 36% of respondents cited better working space as a major criteria in their home hunt.\nOther space related issues included living closer to parks and green spaces (31%), and living in pet-friendly homes (22%). Surprisingly, only 8% of home-movers wish to live closer to work. Proximity to work has been replaced by other coveted features, such as a good internet and a spare room.\nA New Norm That Will Influence Property Price Bargaining\nAn implication that may arise is that sellers living closer to transportation might fetch less of a premium compared to before, while space and home functionality are set to become major bargaining chips in the property market for years to come. \nLooking to sell your property but don\u2019t know where to start? Let our trusted agent service \nsecure buyers\n quickly!"}
{"url": "https://ohmyhome.com/en-my/blog/buying-and-selling-what-are-documents-you-need-property-transaction/", "title": "Buying and Selling: What Are The Documents You Need in a Property Transaction?", "body": "It\u2019s no secret that the legal documents you need are important to seal the deal on the purchase of residential property whether you\u2019re a buyer or a seller. It is equally important for both parties to have a basic understanding of the documents that they will eventually sign. So, strap in for an easy to follow guide on the legal documents you need to know during the buying and selling process. \n1. Letter Of Offer/ Intent To Purchase\nThe Letter of Intent to Purchase is also referred to as the Letter Of Offer. This document basically states that the buyer has intentions to purchase the property, and is written up by the appointed realtor. \nThere are several important details to take note of within the document, such as the selling price of the property with the included fixtures and furnishings, and the set date by which the Sales And Purchase Agreement (SPA) should be signed by, usually within the next couple of weeks. The document will also set forth the initial conditions of the offer and purchase that are put in place to protect both the buyer and the seller. Examples of the conditions of offer and purchase include the return of an earnest deposit if for some reason the sale does not go through. \nDuring this stage of the buying and selling property process, an earnest deposit will be made by the buyer in a show of good faith and to secure the property. This deposit is only two to three percent of the selling price and counts towards the ten percent of the legal down payment required by law. \n2. Sales And Purchase Agreement (SPA)\nThe SPA is the legal document that seals the deal between the seller and buyer of the said property. Hiring a lawyer is always suggested for both parties when it comes time to write up and sign the SPA. This is because the document details the agreed-upon terms and conditions of the sale. Lawyers will know what to look out for in the best interest of their client, as the document doubles as a safety net that protects both parties if anything goes wrong. \nThe SPA will set forth the agreed-upon manner of payment, how long the defect liability period is, in the case of a new property by a developer, and property plans with details of materials and measurements. The document will also state when and how the buyer will receive the keys, and what would happen if the seller fails to vacate the property and possession of the keys by the set date specified in the SPA. \nOnce the SPA is signed, no further negotiations on the conditions of the sale can be entertained, and so the seller and the buyer must both respect and acknowledge the terms that have been laid out. This protects the buyer by making sure that the seller cannot change anything stated in the agreement to their benefit, and visa versa. Buyers will need to note that they will be responsible for having to pay stamp duty on the SPA. \nIn the case of purchasing a new home from a property developer, one of the perks given to buyers is often the free drafting of a SPA, however, be sure to have your lawyer look over it. In the case of inheritance, a SPA is usually not involved as it is just a transfer of names. \n3. Memorandum Of Transfer\nThe Memorandum of Transfer is a legal document that signals both parties to start celebrating as the transfer of ownership has legally been completed. This document exists be it a transfer of ownership of a property from a developer to the buyer, or seller to a buyer in the case of secondary market purchase. \nSimilar to the SPA, there is a stamp duty charge so be sure to include it under your additional expenses that come with buying a house. However, buyers will receive a 100% exemption from having to pay the stamp duty on the Memorandum of Transfer in the case of spouse transfer. A 50% exemption will be given when a parent transfers the property to the child or vice versa. \n4. The Facility Agreement\nThe Facility Agreement is commonly known as a loan agreement and details the terms and conditions of the housing loan taken by the buyer. The agreement is drawn up by the bank\u2019s lawyer as it\u2019s designed more or less to protect the bank\u2019s interest. The buyer, also referred to as the borrower in this situation, has to pay the legal fees for the facility agreement. \nNow that you have a good grasp on the importance of each legal document that plays an essential role in the buying and selling process of a residential property, you\u2019ll be able to keep up with your lawyer and agent with ease. \nWith Ohmyhome\u2019s \ntrusted agent services\n, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole. \nCall +60 16-299 1366 now!"}
{"url": "https://ohmyhome.com/en-my/blog/buying-home-4-types-home-loan-malaysia/", "title": "Buying a Home: 4 Types of Home Loan in Malaysia", "body": "Once you reach the housing loan step of the property buying process there\u2019s a set of mixed feelings that will surely fill you. There\u2019s the excitement that you\u2019ll get when realizing how close you are to owning your dream home. Then there\u2019s the anxiousness that sets in while you\u2019re trying to find a loan for your dream home, and the feeling will definitely linger on until you find out if your loan has been approved. \nYour search for the right mortgage package can be a rollercoaster of emotions, especially without the guidance of a mortgage specialist. There are several options offered by the bank, but all stem from four basic housing loan options at different interest rates and payment specifications that fit a wide variety of customer concerns and needs. \nThe key is to make things a lot simpler and that\u2019s exactly how you\u2019ll be approaching the housing loan step in your property journey after understanding how these four housing loans work. \n4 Types of Home Loan\n1. Basic Term Loan\nSimplicity at its best, the basic term loan charges a fixed amount of monthly installments for the entire loan term. By applying for this loan, there\u2019s no flexibility to reduce the loan interest. While this means that you\u2019ll always have peace of mind knowing your interest rate won\u2019t fluctuate, it could also come as a disadvantage if you were to suddenly come into extra money and you want to use it to pay off a portion of the loan. Alternatively, you can set some money aside but it will be classified as early payments for the upcoming monthly installments and the amount of interest charged will stay the same. Also, bear in mind that banks have a penalty clause if you settle the loan within the first two to five years. \n2. Semi-Flexi Loan\nSo, after learning all about the basic term loan, you\u2019re probably wondering what are the types of loans that you can apply that provide flexibility regarding interest. The semi-flexi loan is one of those loans. If you get a promotion or win the lottery, you\u2019re going to want to use that money to pay off a portion of the loan, and doing so will result in you reducing your housing loan\u2019s interest rate.\nFor example, if the housing loan you took was for RM900,000 and you\u2019ve decided that you wanted to pay off RM400,000 you would have a balance of RM500,000. This will make your new loan interest to be charged on the remaining amount of RM500,000 and not the original RM900,000, thus helping you save money in the long run. You won\u2019t need to inform the bank in advance for any additional payments made on top of the monthly installments.\nAnother added benefit to this loan type is that borrowers can even withdraw the additional payments they\u2019ve made after making a request. There are a few restrictions, mainly on the frequency and the amount that can be withdrawn. Do note that you will incur charges during the process depending on your bank\u2019s policy for withdrawing the additional payments. For those of you with a salary that includes commission, this loan type is a great option to consider. \n3. Full-Flexi Loan\nThe full-flexi loan is similar to the semi-Flexi loan in almost every way. You can pay a large amount of the loan off and the interest will then only be charged on the remaining about. You will also be able to withdraw the additional payments that you\u2019ve made on top of the original monthly ones without having to request to do so beforehand with the bank without penalties. This is done by linking your current account with the loan, making it easy to deposit and withdraw as you wish. \n4. Islamic Loan\nRounding out the four different types of loans offered by the majority of banks in Malaysia is the Islamic loan. You might be wondering, how is this possible when the sharia law, the very law that governs Islamic banking, believes that any form of interest-based gains known as Riba, is regarded as unlawful? This loan type approaches it in a more conventional way of issuing loans through the concept of a fixed-rate loan. \nIslamic banking shifts the ordinary relationship of lender and borrower to seller and buyer, in terms of a housing loan. The idea here is that the bank has purchased the property and is selling it back to you, the buyer, at a higher price to be paid through fixed installments. By pre-determining the profits of re-selling the home to you, the bank makes a profit without having to charge interest. \nIf you\u2019re a \nnon-muslim interested in applying\n for an Islamic housing loan, you can. The concept of a housing loan is shaped by sharia law but it does not mean that you must be practicing the religion in order to apply for financial benefit from it. \nNow that you\u2019re aware of the different types of housing loans and how they can work for you and your financial commitments, you should find out more about the different variations of these loans from your bank. Apply what you\u2019ve learned here as you scour through the seas of housing loan options available in Malaysia to focus on the ones that best work for you and your financial profile.\nReady to start searching for your dream home? Browse listings posted by direct homeowners and top developers on \nOhmyhome\n! You can also download Ohmyhome from \nPlay Store\n or \nApp Store\n!"}
{"url": "https://ohmyhome.com/en-my/blog/buying-home-how-get-your-finances-order/", "title": "Buying a Home: How to Get Your Finances in Order", "body": "Planning for a big purchase takes a lot of effort and a good amount of time in advance before you can write that cheque. The largest financial purchase you\u2019ll ever make in your life is buying a home. This is why you should do yourself and your bank account a favour by reading up about all the ways to successfully plan for your future dream home. \n1. Income\nThe word income in the financial planning handbook does not necessarily refer to how much money you make. Income here refers to the stability of your career and the industry in which you work in as it directly affects your cash flow. \nIt is highly recommended that you invest time in reading up about the industry that you work in as it will help you develop an understanding of the possible direction your industry is heading in the next three to six years. This way you\u2019ll be able to manage your expenses and savings easily.\n2. Expenses\nIt is important that in the early stages of financial planning that you sit down and go through your daily, monthly and yearly finances. Typically, you would separate your expenses into two groups, making it easier for you to pinpoint exactly what you need and what you can save. \nMonthly Needs\nYour monthly expenditure needs should only include your basics. The keywords here to remember as you make your list, are your basic needs, because in today\u2019s day and age individuals are accustomed to different variations of basic needs on top of the traditional ones. \nFor example, the traditional basic needs that you have to buy and pay for in order to survive are your utility bills such as water and electricity, rent, and groceries. The additional monthly expenditure needs include paying your phone bill, petrol for your car, the internet, cable television or Netflix subscription. Don\u2019t forget, you also need to pay for your insurance, medical checkups, medication, and servicing your car. These are necessary expenses that you need to consider in your financial planning.\nThere are other monthly expenditure needs that aren\u2019t often considered as needs such as going to the gym, socialising or going on a holiday as it can be expensive and unnecessary to some. However, if you are someone that needs to socialise, you should try to limit the number of times you go out, from once a week to once every two weeks, instead of cutting it out completely. Another example of individual-specific needs would be \ngoing to the gym\n, this might be something you look forward to and is part of your self-care routine to stay healthy. Thus, that can also be considered a need for you. \nLook closely at your lifestyle and identify what are your needs and wants, because cutting costs down to the bare necessities is surviving, and not living. So figure out what you think falls into the monthly expenditure needs, and what falls into your monthly disposable income category. \nMonthly Disposable Income\nThe idea of a disposable income is that you can use it for anything you want. Often enough, the majority of us are guilty of spending our disposable income till there isn\u2019t much left by the end of the month. \nHow does this happen? Well, there are the unnecessary shopping sprees we all go on, where we impulse to buy something we don\u2019t need or already have five of, and then there are the ever-popular concepts of splurging and treating yourself knowing exactly how that story goes. Decide early on what your disposable income can be used for, such as movie tickets and popcorn twice a month, a monthly mani-pedi session, or a new game for your console. \nIt\u2019s not a bad thing to want something or to buy yourself one or two things you\u2019ve had an eye on, especially since you\u2019ve been working hard for your money. That being said, you should not treat your disposable income as something that can easily be disposed of. Instead try to develop healthy cost-cutting habits. For example, if the weekly brunches are getting a tad too expensive, a monthly brunch works too. By being more mindful of your spending and adopting these cost-cutting habits, you can save a bigger portion of your disposable income for your deposit. \n4. Emergency Funds\nKeep in mind that financial planning means you are saving for more than one thing at a time. You should be saving for a deposit, while also putting aside money for emergencies in case bad luck strikes. Your emergency fund should amount to six months of your monthly need expenditures. This way, your emergency funds will be able to support you for some time while you find a new job to get back on your feet.\n5. Determine Your Budget\nWhen you\u2019re planning to make a big purchase you need to roughly know what the price range looks like in order to know how much to save up for it. By determining your budget you can set a goal to reach every few months leading up to the full amount. \nKnow the property price\nSo how do you determine your budget? Easy, all you have to do is research the estimated price of the property type you might want to buy in the areas that you\u2019re interested in and you\u2019ll then have a rough price range to go off on. \nKeep in mind though, that unless you\u2019re planning to buy a house in the next two years, you will have to refresh your price range data every year or so. This is due to the real estate market being unstable as it depends on the economic state of the country, thus resulting in property prices fluctuating. \nDeposit and Housing Loan Payment\nSaving up for a deposit is the quintessential part of financial planning for a home. This is because all you need to secure a property is a deposit. The majority of us will be taking out a housing loan in order to finance the rest of the payment to the seller. The deposit you\u2019re saving up for must be 10% of the property\u2019s selling price, which is why it\u2019s important to do your research beforehand for a rough estimate. You should also make sure that your budget includes the additional cost of buying a house, such as lawyer fees, stamp duty, and loan agreement fees. \nOnce the loan is approved, you can breathe a little easier as you\u2019ve now successfully bought a house, but the financial planning doesn\u2019t stop there. You now have to take into account the monthly loan payments. As a rule of thumb, your financial commitments should not exceed 60% of your monthly income.\n6. Good Credit Score\nHaving and maintaining a good credit score is vital to obtaining a housing loan. A credit score is a detailed tell-tale of your payment habits that your bank will use as one part of the determination process to approve your loan. \nIf your commitments include a car loan and/or a student loan, make sure to pay them on time every month. Consistency is key as it demonstrates that you\u2019re a responsible pay master. A monthly credit card bill will work just the same. A pro tip is to place all recurring payments on the card, such as utility, phone, and internet bills. If you don\u2019t have a loan or a credit card, get one at least six months before you apply for a housing loan. \nIt might seem like a tedious endeavour to plan your finances in order to buy a house, but the truth is unless you win the lottery or you\u2019ve inherited a gold mine, you\u2019re going to have to put in some hard work and save smart. \nReady to buy your first home? Learn more about our trusted \nagent services\n by contacting our friendly customer care team at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/calls-housing-projects-be-priced-rm500000-and-below/", "title": "Calls for Housing Projects To Be Priced At RM500,000 and Below", "body": "Written by\n: Guo Zhenhao\nRedefining affordability could be the next step in providing tax rebates for Malaysians.\nPerumahan Penjawat Awan Malaysia (PPAM)\n is an affordable housing scheme launched in early 2013 to enable low and medium income civil servants to afford homes in major towns. Since then, a slew of initiatives to make housing more accessible in Malaysia has been rolled out. Recently, a Valuation and Property Service Department (JPPH) report revealed that many of Malaysia\u2019s Bottom 40 (B40) income earners experience difficulty buying homes priced between RM200,000 and RM300,000.\nThese homes consist of up to 43% of the property overhang in the first half of 2019.\nAffordability Standards Vary Between States\nProperty consultants have weighed in, stating that the standard for affordability is subjective to each state. Land scarcity, population growth, and an ageing population are all factors that can cause housing prices to fluctuate.\nRedefining Affordability Standards for Wider Housing Loan Accessibility\nOn the ground, Malaysians bemoan that buying a home is unfeasible even after working for years on end. Some Malaysians cite difficulty and shortage of aid when it comes to down payment.\nThe good news is, there\u2019s better classifications to redirect tax dollars.\nSome ministers have suggested classifying housing submarkets based on affordability. Arranging property in terms of value, and subsequently planning taxes, incentives, and income distribution could be the way forward for making homeownership accessible to Malaysians.\nLooking to buy your dream home in Malaysia?\nFind a home for free using \nOhmyhome\u2019s DIY listings page\n!\nSource: \nFree Malaysia Today"}
{"url": "https://ohmyhome.com/en-my/blog/debunking-top-5-property-myths-about-buying-home/", "title": "Debunking The Top 5 Property Myths About Buying A Home", "body": "Growing up, we\u2019ve come across myths about almost every aspect of our lives. Property is no exception. Buying a house is one of those milestones that is often filled with misinformation. It is important now more than ever that property buyers have all the information they need to make the best decision for themselves. \nHere at \nOhmyhome\n we believe in making things as simple as possible with accurate information to assist you on your housing journey whether it be to buy a house to live in or to invest. \nWe\u2019ve compiled a list of the most common myths and debunked them so that you will make smart and informed decisions when you decide to buy a house.\n1. When buying a house, nothing less than a 20% downpayment is required\nBy far this is one of the most popular myths out there that deter potential buyers from even taking that first step to becoming a homeowner. This myth is false. By law, only 10% of the buying price is required. \nFor example, if the property you\u2019re interested in is priced at RM 700,000, you would only need to pay 10% of the amount (RM70,000) for the downpayment required to secure the property. \nThe reason that this myth is so prevalent is that buyers aren\u2019t aware of the additional cost that they are required to pay, such as the stamp duty, application fees, valuation fees, legal fees, and insurance mortgage. Some of these costs are usually covered if it is a newly launched property \u2013 developers will absorb the cost as a means to attract buyers. \n2. Putting down a larger downpayment is better in the long run\nUnlike other myths on this list, this one entirely depends on the financial circumstances of the buyer. It is true that putting down a larger down payment then what is required would result in lower monthly mortgage repayments. \nHowever, if you aren\u2019t in a financial situation that permits a larger than needed sum of money to be tied up, then you should definitely not \u2018pay\u2019 by the rules of this myth. Exercise prudence and put down the 10% required amount, and apply for a loan with monthly installments you can comfortably afford. \n3. It is cheaper to rent than to own\nIf you\u2019ve just started to work at an entry-level position and don\u2019t have enough funds for a hefty downpayment, then this myth is a fact, especially in the current property landscape of Malaysia. The truth is it\u2019s only cheaper to own than to rent if your monthly home loan payments are the same amount as it would be to rent a place, and that is usually not the case for most Malaysians. \nBut don\u2019t fret, there are property schemes options currently put in place by the Malaysian government out there for first time home buyers. \nHowever, if you need to move or you\u2019re looking to move, and buying a house isn\u2019t a feasible option yet, then browse our non-duplicated listings to find your perfect home/ room to rent.\n4. Waiting for the right age to buy a house\nLike many things in life, it is never the right time because you have to make it the right time. If you are financially independent and can afford the downpayment and monthly loan payments then this myth is false. \nThe younger you are means you can apply for loans with a longer payback period, instead of a shorter loan tenure that will usually mean higher repayments. This way you won\u2019t be putting a strain on yourself or your financial status. \n5. Being \u2018debt-free\u2019 means I shouldn\u2019t get a credit card\nMany Malaysians are taught from a young age to only ever use cash for purchases, avoid getting a credit card, and to stick to a debit card. This way you will be debt-free, and applying for a home loan will be easier in the long run. \nThis is by far one of the most common false myths out there, not just for purchasing a house, but also for anything you may want to buy with the help of a loan. Banks will only be able to approve a loan if they know the candidate can and will pay them the monthly payments on time. Think of a credit card as a financial track record \u2013 it doesn\u2019t matter what you use it for, it only matters if you pay the amount back. \nA good tip to keep a spotless financial track record is by using the card to pay for utilities, such as your monthly water, electricity and phone bills. You can also put monthly membership payments for the gym, along with fitness and language classes on the card. This will demonstrate to the bank that you are consistent in monthly payments, however small the amount may be. \nIf you don\u2019t have a credit card yet, be sure to sign up for one at least six months before applying for a loan.\nNow that these myths have been debunked, why not take the next step and find your dream home with Ohmyhome?\nTalk to our real estate consultants and get VIP agent service!\nWith Ohmyhome\u2019s \ntrusted agent services\n, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole.\nCall +6016-299 1366 today."}
{"url": "https://ohmyhome.com/en-my/blog/developer-tropicana-supports-tenants-waiving-rental-tropicana-gardens-mall-during-movement-control-order-mco/", "title": "Tropicana Waives Rental for Tropicana Gardens Mall Tenants During the MCO", "body": "On 26 March 2020, property developer Tropicana Corporation Berhad announced that the Group will waive the rental fees to the tenants at Tropicana Gardens Mall throughout the duration of the Movement Control Order (MCO), in support of its tenants \u201caffected or unable to operate during this period of uncertainties\u201d.\nIn light of the COVID-19 outbreak and wave of drastic safety measures to contain the chain of infection, malls are struggling to cope during the MCO, especially since the announcement that the MCO will be extended by two weeks until 14 April 2020. Under the order, Malaysians are urged to stay at home and non-essential businesses to remain closed.\nAccording to the Group, waiving the rental for longer than two weeks for tenants of the one million sqft mall makes them the first landlord to do so, adding that \u201cthese are unprecedented times experienced by all Malaysians\u201d.\nSources: Tropicana Press Release, \nTodayOnline\n, \nCNA"}
{"url": "https://ohmyhome.com/en-my/blog/dsara-sentral-mixed-use-development-near-kl/", "title": "D\u2019Sara Sentral: Mixed-Use Development Near KL", "body": "Feature Photo Source: Mah Sing Properties, D\u2019sara Sentral\nWritten By\n: Syasya Nur\nD\u2019sara Sentral takes work, play, and relaxation to the next level. This mixed development spans a grand 6.55 acres of land comprising Small Office Versatile Offices (SoVo), serviced residences, and lifestyle shops. Need some retail therapy? Take the lift and explore the 105 retail outlets in D\u2019sara Sentral.\nThis luxurious gem is nestled in the growing township of Sungai Buloh in Selangor, within close proximity of established towns and shopping centres. With every need within reach, can it get any better than this?\n3 Aspects of D\u2019sara Sentral That Makes It A Worthy Investment\n1. Premium-grade residential facilities\nComplete with four residential blocks with a whopping 938 units, there is a home for everyone at D\u2019sara Sentral. The towers are split into groups (SA1 and SA2, followed by SB1 and SB2), with each group enjoying the same exquisitely designed layout and facilities.\nResidents are in for a treat, thanks to the condo\u2019s lap pool, floating lounge, bubble pool, and sky spa. The mixed development features an extensive range of amenities for much-needed rejuvenation. From the reflexology path, fragrance garden, to the gym and yoga room, this is the perfect setting for those who crave tranquility.\nSource: Mah Sing Properties, D\u2019sara Sentral\nTowers SB1 & SB2 feature a different poolside look, with a 50m infinity pool, wading pool, floating gym, aqua gym, and a sunken lounge. Unique to these towers is a treasure play centre complete with an outdoor gym, kindergarten, rope-climbing section, and even an alphabet park. With these amenities, recreation and rejuvenation are the order of the day.\n2. Small Offices Versatile Offices Aplenty\nHome? Check. Play? Check. Work? Check. Next in line would be the convenient SoVos located within the multi-functional development. Professionals can choose from 322 suites in a 32-storey tower. A Zen garden and abundant green spaces complete the interior of the building.\n3. Unrivalled Accessibility\nTravelling to D\u2019sara Sentral? This opulent complex is easily accessible from the north and south via several major highways: Guthrie Corridor Expressway (GUTHRIE), New Klang Valley Expressway (NKVE), North-South Expressway (NSE), Damansara-Puchong highway (LDP), Sprint highway (SPRINT), and Duta-Ulu Kelang Expressway (DUKE). Residents are just a 30-minute drive from Kuala Lumpur or Kelana Jaya and a 15-minute drive from Kepong or Rawang. Soon, a covered sky bridge will connect the condo to the upcoming Kampung Baru Sungai Buloh MRT station. Enjoy the best of contemporary retail therapy and an opulent living experience you can only dream of!\nWant to get a direct developer price for D\u2019Sara Sentral?\nTalk to our \nexperienced property consultants.\nCall +60 16-299 1366 to learn more!"}
{"url": "https://ohmyhome.com/en-my/blog/east-residence-best-kuala-lumpur-right-your-doorstep/", "title": "East Residence: The Best of Kuala Lumpur Right at Your Doorstep", "body": "Written by:\n Henny Maherah\nEast Residence offers you the best of Kuala Lumpur, all from the comfort of your home. Located in Bukit Kiara, East Residence boasts of a selection of 126 exclusive landed units, ranging from 4-storey courtyard villas to 2-storey and 3-storey townhouses. These units are as big as 2,400 sqft to 5,488 sqft. With such a wide variety of units, you can be sure to find one that satisfies your needs.\n3 Reasons why East Residence is a Perfect Home\n1. Bringing Your Ideal Holiday Destination to You\nLeisure and relaxation have never been easier with East Residence\u2019s own private clubhouse, fully equipped with a lap pool, jacuzzi, home theatre room, and gym. With a complimentary lifetime membership to Tournament Player\u2019s Club (TPC) Kuala Lumpur, tee time is now unlimited at Malaysia\u2019s most exclusive golf course. \n2. A Nature Lover\u2019s Paradise\nSituated just 2.6km away, Rimba Kiara Park provides a convenient way for you and your family to be in touch with nature. Gather the children at the end of a long work week and enjoy a tranquil afternoon at the park. \nLooking for an alternative way to relax? There are seven themed courtyard gardens within the property, perfect for a morning stroll with your family. \n3. Accessibility and Convenience\nLooking for quality education nearby? East Residence is located within the proximity of international and local educational institutions such as the British International School (BIS) and the University of Malaya (UM). \nNeed some retail therapy? Fret not, East Residence is in the midst of the best shopping destinations like Mid Valley Megamall, Bangsar Village, and One Utama. \nEast Residence is the perfect haven for you and your family to be one with nature without missing out on the exciting city lifestyle. With such a great location, close-knit community, and superb amenities, what more can you look for in a dream home? \nIs East Residence the perfect home you and your family have always dreamt of? Contact our \nin-house agents\n to find out more! \nCall +60 16-299 1366 now!"}
{"url": "https://ohmyhome.com/en-my/blog/gamuda-land-sells-properties-e-commerce-platform/", "title": "Gamuda Land Sells Properties on e-Commerce Platform", "body": "Is selling houses online through an e-commerce platform happening right now?\nApparently it is for Gamuda Land, the property development arm of Gamuda Berhad, which is an engineering, property and infrastructure company.\nThe COVID-19 pandemic is the main reason for this push. Gamuda Land has partnered with Shopee to reach out to a wider group of potential consumers, acknowledging that consumer patterns are rapidly shifting towards online platforms.\nCustomers can browse from serviced apartments to landed homes and purchase through the shopping platform or speak to Gamuda Land\u2019s representatives if they have any enquiries on the property and terms and conditions of any promotion before finalising their purchase.\nLooking for a brand-new home? Talk to our real estate consultants and get VIP agent service!\nWith \nOhmyhome\u2019s trusted agent services\n, we can help you buy, sell, rent and lease out properties according to your needs and requirements. \nCall +60 16-299 1366 today.\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/greener-and-cleaner-malacca-river-during-movement-control-order-mco/", "title": "Greener and Cleaner Malacca River During the Movement Control Order (MCO)", "body": "Sungai Melaka, located in the historical city of Malacca, is now so clear that people can see schools of fish swimming around. The river has not achieved this level of cleanliness for a long time. \nSungai Melaka water has been cleaner during the Movement Control Order (MCO) due to the lack of human activities. Previously, it was very busy with boats plying the river, causing its water to be murky.\nThe Department of Environment (DOE) took \n158 enforcement actions\n against premises and individuals for polluting the environment, especially rivers.\nNot just fishes, but sightings of various animals such as monitor lizards have also been reported. This development excites a lot of Malaysians, most of whom agree that they need to keep the river clean for future generations.\nOur team has put together a convenient pack for you and your family. Check out tips for maintaining your family\u2019s health, working remotely, facilitating home-based learning, and so much more. \nDownload for free!\nFor now, stay safe by \nboosting your body\u2019s natural defences\n. If you\u2019re working from home, here are some handy tips to \nmaintain productivity\n or \nremain focused even with kids around\n.\nSources:\nThe Straits Times\n, \nThe New Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/guide-first-time-renters-malaysia/", "title": "Guide for First-Time Renters in Malaysia", "body": "Moving out to your own place is a big step and a life decision that should not be made lightly. Once you\u2019ve made the decision to rent, how can you make the process as smooth and stress-free as possible? \nHere are some tips for finding the perfect rental home in Malaysia and securing a tenancy agreement that suits your needs.\n1. List down your needs and wants\nKnow exactly what you need and want in a rental unit. What factors are not negotiable, and what can you compromise on? By determining the particular features you seek will make it easier to narrow down options.\nHere are some questions you need to address:\nHow long do you plan to stay in the area?\nHow far is the rental property from your office?\nWhat public transportation options are available?\nIs it near grocery stores, a hospital, and other amenities?\nIs the area safe or are there issues with crime?\nHow many people will occupy the rental unit?\nYour list of needs can include the number of bedrooms and bathrooms, the layout of the home, and fixtures like closet space. If you own a car, you\u2019ll need to ask if the unit comes with a parking spot. Would it be more cost-effective for you to buy your own furniture, or go for a semi-furnished or fully furnished place to rent? \nBefore you move in, take pictures and list down the property\u2019s contents and existing damages, regardless of how insignificant you may think it is at the time. This is so when your lease is up, you\u2019ll avoid paying extra for things you were not responsible for.\n2. Understand the Tenancy Agreement\nYou might be wondering if a tenancy agreement and a lease are the same, and if the terms are interchangeable. Though both are legal agreements, a tenancy refers to the rental of a property for three years or under and does not need to be registered. A lease requires registration as the agreement rental period is longer than three years. \nBefore you sign\nThe tenancy agreement is a legally binding contract between yourself and the landlord. Throughout your leasing period, you will surely need to refer to the agreement, which is why asking for a copy of the signed agreement is advised. \nUnderstand the agreement by reading it carefully, and get a lawyer or someone with rental experience to read it too. If you have a verbal agreement with the landlord, make sure you write it down and include these terms in the official agreement. \nYour leasing agreement will usually detail important information such as when is the rent due, what the late penalties fee would look like, and how to submit a concern about the property or a maintenance request. The agreement will also include details of your responsibilities as a tenant.\nPay the deposit\nYou will be required to put down a security deposit before moving in, usually amounting to two or three months of the monthly leasing fee. The deposit will be returned to you at the end of your tenancy agreement or may be used to pay for any possible damages that may have occurred when you were leasing the place. \nAt the end of the lease\nMost landlords will look for a tenant who can stay for a minimum of one to two years. This is so they won\u2019t have to worry for a long period that the house will just be sitting there with no rental income. They may also have plans for the property that may interfere with your timeline plans. So, plan and be honest about how long you see yourself living there.\nTowards the end of your leasing period, your landlord may offer you a renewal on the lease, usually with the same or similar points as the previous tenancy agreement. However, if you decide that it\u2019s time to move, you are required to provide a minimum of two month\u2019s notice in writing.\n3. Know your rights and responsibilities as a tenant\nTenant rights\nIn Malaysia, there isn\u2019t a specific act in place to govern landlords and tenants. However, the Malaysian Bar does note that there are several provisions under Part 15: Leases & Tenancies of the National Land Code 1965, that are usually implemented to solve any disputes related to tenancy. \nA heads up if you ever find yourself in the situation of not having paid your due rental, it is unlawful for property owners to evict tenants or recover possession of the house or room without a court order under Section 7(2) of the Specific Relief Act 1950. Any extreme measures such as changing the locks or kicking out tenants without necessary court documents to show will result in landlords being sued for trespassing by their tenants.\nTenant responsibilities\nThe responsibilities of a tenant will often be detailed within the tenancy agreement and can vary from agreement to agreement. Nevertheless, most will fall along the lines of avoiding damages to the property and paying for repairs if you or your guest cause damages to the place. You will also have to report problems, like mold or water damage to your landlord promptly so that they can have it fixed. \nYou also need to allow your landlord to conduct inspections and necessary maintenance work, provided they give you notice ahead of time. Other responsibilities include paying rent on time and following the rules outlined in the agreement, such as no sub-letting unless stated differently in the agreement. \nMake sure to follow the list of rules and responsibilities if you want to renew your lease or get your deposit back. \nLooking for listings to lease? Download Ohmyhome from \nPlay Store\n or \nApp Store\n now! or website will easily match you to your dream home."}
{"url": "https://ohmyhome.com/en-my/blog/heres-why-you-should-buy-property-kuchai-lama/", "title": "Why You Should Buy A Property In Kuchai Lama", "body": "Just as you would research the features and the benefits of purchasing a car to see if it will fit in with your needs and lifestyle, buying a home in a new neighborhood is no different. We\u2019ve listed down four key reasons why Kuchai Lama is an up and coming neighborhood that everyone should want to move to. \nKuchai Lama is similar to the other surrounding areas that make up the federal territory of Kuala Lumpur (KL) as it was once merely a housing suburb with rows of shops run by residents. Fast forward to today, through the efforts of the government, property developers and the large tight-knit community, the district\u2019s development is thriving both commercially and residentially with so much to offer.\n4 reasons why you should call Kuchai Lama home\n1. The Convenience of KL\nKuchai Lama has become sought after in recent years as developments have attracted many new and potential residents. This is a direct result of the scarcity of land and rising property prices in KL\u2019s city center. Kuchai Lama offers residents new and old a taste of KL whenever their hearts desire while doubling as an escape from the noise and traffic that is often associated with city life. \nResidents have unlimited access to the best food and retail that KL has to offer. Shopping haven Midvalley and The Gardens, two of Malaysia\u2019s largest malls are only a 15-minute drive away. You\u2019ll also find popular eateries, food courts, cultural and historical sites, and nightlife hotspots just a stone\u2019s throw away. \nThose working in the city but reside in Kuchai Lama will surely find the convenience of living in close proximity as an added bonus to the growing list of convenient reasons to live here. Say goodbye to the hours spent in traffic jams during morning and evening rush hour. \n2. The Neighborhood\nKuchai Lama residential neighborhoods are a perfect mix of the old and the new. There are low-cost flats and apartments, along with single and double-story houses that have been around for decades, while new developments consist of mainly landed homes in gated communities and high-rise condominiums in different price ranges.\nM Oscar\n is a freehold high-rise condominium by one of Malaysia\u2019s top property developers MahSing, that is currently in construction and set to be completed in the year 2023. The property was designed with three key features in mind to create an inviting home for its residents, and is incorporated in every part of the building, from the lobby, to the units, and including the facilities. \nSituated strategically just off Kuchai Lama, residents of M Oscar will be left in awe every night with breathtaking views of KL\u2019s skyline from the comfort of their homes. Buyers will have four unit types to choose from, ranging from two to four bedroom options (780 sq ft to 1,198 sq ft) from a starting price of RM428, 000. \nM Oscar comes fully equipped with a 2.7-acre facility podium for its residents to relax, re-energise and to create memories with their families in social spaces such as the pool and playground. The facility podium is made up of 12 different facilities, including a multipurpose hall and a gymnasium. \n3. The Developing Commercial Sector\nThe ever-evolving neighbourhood of Kuchai Lama\u2019s commercial sector provides residents with an array of options that don\u2019t always mean they have to drive into the city when they don\u2019t want to. The area holds its own against the KL food scene, with popular and new exciting eateries that will surely please the taste buds of any \nMalaysian foodie\n. \nThe NSK Trade City is located right opposite M Oscar, only a 1.5 km drive away. Residents will have their pick of fresh ingredients at an affordable wholesale price. You\u2019ll be able to shop for all your household needs at any time in this sprawling store that is open 24/7 and stocked with both popular and household name brands.\n4. Accessibility\nKuchai Lama is located in a sought-after location, and it\u2019s not just because of its close proximity to KL, but also because it\u2019s only a 20-minute drive into Petaling Jaya. The developments and improvements made to the transport infrastructures in the area have provided residents with links to several highways, such as the Shah Alam Expressway (KESAS), Kuala Lumpur-Putrajaya Maju Expressway (MEX), Sungai Besi Expressway, New Pantai Expressway (NPE), SMART Tunnel and Federal Highway.\nGetting around the area or to other parts of KL is easier than ever, and even possible without a car. There are new projects currently in works for upgrading the public transport options in Kuchai Lama, among them are the long-awaited MRT2 stations. The stations will be located in Kuchai Lama and Taman Naga Emas, in connection with the upcoming Sungai Buloh-Serdang-Putrajaya Line. \nLooking for a brand-new home? Talk to our real estate consultants and get VIP agent service!\nWith Ohmyhome\u2019s \ntrusted agent services\n, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole.\nCall +6016-299 1366 today."}
{"url": "https://ohmyhome.com/en-my/blog/housing-loans-factors-affect-your-eligibility/", "title": "Housing Loans: Factors That Affect Your Eligibility", "body": "According to a report, \n one out of two housing loans are rejected in Malaysia,\n which is no doubt a shocking statistic. It implies that half the loan applicants in Malaysia are denied the chance of owning property and may have to continue renting for an extended period of time.\nMany have pointed their fingers towards the banks for not approving many of these loans. However, these strict loan approval guidelines are set in place to protect both the banks and you, the future homeowner. \nWhile it may be disheartening to be denied a home loan, it also means that you are not taking on more debt than you are supposed to. This helps you avoid more systemic problems with your personal finance down the road.\nBut if you are confident that you are ready to take on the responsibility of being a homeowner, here are some factors that play an essential role in determining your loan eligibility.\n4 Factors That Affect Housing Loan Eligibility\n1. Loan-to-value (LTV) ratio\nThe LTV ratio is a risk assessment tool used to determine how much the bank is willing to finance on the homebuyer\u2019s behalf. This ratio is based on the property value.\nSince 2010, Bank Negara Malaysia has regulated the LTV ratio for residential properties. For homebuyers looking to purchase their first or second property, you can typically expect a maximum LTV ratio of 90% for your mortgage. \nFor property worth RM500,000, you could expect to borrow a maximum amount of RM450,000 or 90% of the property\u2019s total value.\nFor the third property onwards, you can only borrow a maximum of 70% of the value of the property to minimise the risk of overleveraging. The only way for you to re-unlock the 90% LTV ratio again is for you to pay off the remaining debt from your previous loan fully.\nHowever, homebuyers can gain a slight advantage over this ruling policy by not purchasing the property under a joint name account. \nFirst-time homebuyers typically purchase a property under a joint account with their spouses. While there are several advantages of doing so, by opting for a joint loan account, you would be taking up two \u201cquotas\u201d instead of one.\nIf both spouses decide to purchase properties separately, they could potentially finance up to four properties under the 90% LTV ratio, provided that both spouses have decent income capabilities.\n2. Debt-to-service ratio (DSR)\nThe DSR is simply a measurement of your available cash flow. This allows lenders to gauge how likely it is for you to pay off current debt obligations.\nFor example, both Mr Tan and Mr Lim earn a monthly gross income of RM6,000, and both of them would like to buy a new home. Mr Tan does not have any debt obligations, but Mr Lim is servicing a hire purchase loan of RM500 per month for a car that he recently bought.\nFrom the bank\u2019s perspective, Mr Tan is a much more attractive loan applicant compared to Mr Lim because he has a better ability to service his loan due to his lower debt obligation despite having the same exact income. \nIn Mr Lim\u2019s case, provided that he has no additional debt obligation, his DSR is calculated as follows:\nRM500 debt / RM6000 income x 100% = 8.33% DSR\nThat said, 8.33% is an extremely low DSR and Mr Lim should not have any issues getting his loan application accepted. DSRs are not highly regulated, and all banks have internally determined their respective DSR. The more you fall within the range, the higher the chance that you will be able to get approved for the loan.\nIn fact, the DSR is also not unique to property finance, as the terminology is also used in corporate and government finance to gauge how likely it is that these entities can finance their debt.\n3. Credit score\nWithout a doubt, your creditworthiness is an important, if not the most important element when it comes to determining your loan eligibility. \nIf you have been diligently paying off your water and electricity bills, diligent in paying off your car loan, it shows that you are responsible with your personal finance. This will, in turn, build trust amongst banks that you have the capacity to take on a significant amount of debt.\nThere are multiple ways to obtain your credit score, but by far the most direct way of doing so is through a local credit reporting agency. \nCTOS\n is, by far, the most popular private agency in Malaysia right now, but you can also obtain your credit score from the \nCentral Credit Reference Information (CCRIS)\n managed by the Credit Bureau of Bank Negara Malaysia.\nObtaining a report is not that expensive \u2013 under RM30. However, credit agencies usually offer free personal reports during sign-ups or free report promotions within a limited time. It pays to have a copy of your personal credit report to determine your creditworthiness. It\u2019s useful to find out how you can improve your credit score based on the debts you have on hand.\nFor fresh graduates looking to buy a property, one easy way to build your credit score would be to apply for a credit card as soon as possible, use it, and pay it all in full diligently. Doing so as early as possible will give you an edge compared to your peers if you plan on investing in real estate at an early age.\n4. Your bank\u2019s risk profile\n \nWhile many of our readers may aspire to become one of the best investors in the world, none can come close to beating banks in their own game. \nBreaking down investments into its fundamentals, it is ultimately the balance between risks and profitability. And banks have built their entire business models around these two factors, employing world-class mathematicians and sophisticated algorithms to determine the amount of risk they are willing to accept in exchange for profit.\nIt pays to view banks with this perspective. At this point, property owners are the investment products and the banks are the investors themselves. And just like any prominent investor, banks come with a variety of risk profiles as well.\nYou can gauge the personality of banks easily based on the mortgage rates that they employ. Banks who offer mortgage terms that provide lower interest rates are generally much more selective in offering mortgages.\nConversely, you are more likely to have an easier time obtaining loans from banks that offer higher interest rates or banks that heavily push for upsells such as mortgage insurances to make up the profits.\nWhile there are other prominent factors at play, it is hard to deny that the bank\u2019s brand, \u201cpersonality,\u201d and risk profile all play a role in determining whether you will obtain your loan. \nBy understanding the factors listed above, you should have a clear understanding of whether you are eligible for certain loans.\nAll of this information further highlights the importance of managing your personal finances well. As long as you are responsible with your money as well as cash flow, you can take advantage of investment opportunities. In turn, you can leverage these real estate investments to build even more wealth in the future.\nInvesting in real estate should be accessible to anyone and everyone.\nDon\u2019t be intimidated by this seemingly complicated process. \nOhmyhome\n can help you with your property investment journey. We provide top-tier services by trusted real estate professionals from start to finish.\nCall +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/housing-mismatch-key-issue-malaysian-property-market/", "title": "Housing Mismatch: A Key Issue in the Malaysian Property Market", "body": "Written by:\n Henny Maherah\nThe Malaysian housing market has been bombarded by persistent challenges in recent years. The mismatch between housing demands and property developments is a key issue that needs to be targeted for a better outlook in the Malaysian housing market.\nMismatch of Housing Affordability and Availability\nProperty prices have consistently increased since 2009, resulting in overhang housing units. A total of \n50,008 units worth RM34 million\n were left unsold in 2019.\nThe majority of these unsold units include SoHo units and serviced apartments. Despite the high volume of overhang units, property developers continue to embark on projects without regard for the target population\u2019s purchasing patterns.\nPossible Solutions From Public and Private Sectors\nTo counter this issue, developers are urged to conduct sufficient research of their targeted buyers, particularly in understanding the purchasing power of the population. Past efforts include the Housing Ownership Campaign (HOC) issued in 2019 to enhance sales of overhang units. From this campaign, 31,415 housing units worth RM23.3 billion were sold as reported by Housing and Local Government Minister, Zuraida Kamarrudin. The repeat of such state initiatives this year could further encourage the sale of the remaining overhang units available.\nThrough government efforts and more focused property development projects, the housing market in Malaysia could be improved, providing affordable homes for all.\nCurious about new launches or government housing initiatives? Talk to our \nin-house agents\n to find out more!\nContact us at +60 16-299 1366 today!\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/how-are-malaysian-property-developers-enticing-hong-kong-property-investors/", "title": "How Are Malaysian Property Developers Responding to the Economic Downturn Caused By COVID-19?", "body": "Written By:\n Henny Maherah\nHow is the Malaysian property sector responding to the economic downturn caused by \nCOVID-19\n? In a surprising turn of events, property developers in Malaysia are engaging more clients from Hong Kong.\nHong Kong Buyers Puts Property Investment in Malaysia On Hold\nInterest in the Malaysian housing market reached a strong peak in 2019 as many Hong Kong residents attempted to flee from social unrest in their home country. Despite this promising start, property investment from Hong Kong has retreated by one-third ever since the COVID-19 pandemic in Malaysia. Investors and potential buyers are taking a longer time to decide on property investment due to the lockdown measures in Malaysia.\nEfficient Response from Property Developers and Government\nNonetheless, Malaysian property developers have learnt to adapt to the turbulent times quickly and are introducing more attractive prices and packages to entice hesitant foreign buyers. With such enhancements, property developers are working with 20 to 30% more clients from Hong Kong in the first quarter of 2020.\nFurthermore, government efforts such as the \nMalaysia My Second Home (MM2H)\n scheme further encourages buyers to settle on their property plans. Through this scheme, long-term residency visas are offered when foreigners invest in homes priced above RM1 million. The scheme proved to be effective in securing more foreign investors in the Malaysian market when application for MM2H increased by 20% in the second half of 2019.\nAdaptability is crucial within the property market to respond quickly and be flexible to global changes. This efficient response together with timely and relevant government initiatives, could result in a better outlook in the slow housing market in the near future.\nSource: \nSCMP\nWish to invest in the Malaysian property market? Talk to our \nin-house agents\n to find out more!\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/how-does-ohmyhomes-property-agent-service-work/", "title": "How Does Ohmyhome\u2019s Property Agent Service Work?", "body": "Whether you\u2019re a buyer, seller, landlord or tenant, your experience with our tech-first agent services will be a seamless breath of fresh air. \nWhen you engage our agent service, you will have the best customer support team to answer any of your inquiries. This way, you\u2019ll get the help you need when you need it. \nLet us take you through the steps you\u2019ll experience when you engage our trusted property agent service. \n1. Contact our customer service\nIt starts from the minute you contact them via our hotline, app or website. The friendly and personalised service begins with speaking to our customer service that will assign an agent that specialises in your type of property and territory before setting up a face-to-face meeting to discuss your needs, property\u2019s data, research and best market price.\n2. Meet up with the agent\nThe comprehensive research will then be conducted by the agent, and findings will be compiled to form a report that is sectioned out into two categories, price and activity level regarding a location. This report is given to you, the client, so that you will have a clear understanding as to why the Ohmyhome agent would suggest an offer price quote if you\u2019re a buyer, or a specific selling price, and marketing approach if you\u2019re a seller. \n3. Take photos and videos of the property\nFor sellers and landlords, when it comes to marketing your property no one takes the time and effort like the dedicated agents from Ohmyhome do. A picture can tell a thousand words, which is why our agents take it upon themselves to arrange a date and time to take realistic, accurate, and marketable photos of your property, instead of asking you to do it yourself. \nEven better, \nshoot a video tour\n of your home so that potential buyers or renters can get a better appreciation of the space.\nOnce you\u2019ve taken great photos and videos, it\u2019s time to advertise your property! Unlike other services, there is no cost-cutting when advertising your property on the first web page of our app and website. Your property advertisement will also be regularly refreshed so that it stays front and center until it\u2019s sold. \nFor renters and buyers, you\u2019re assured that the platform offers unique listings and high-quality photos that help you find your dream home.\n4. Use our ShoutOut feature\nThe in-app ShoutOut feature will let you find and connect with our database of ready buyers.\nFor those looking to buy or lease a home, agent services will search through our extensive database to match your dream home. \n5. Close the deal\nOur agents will handle all price negotiations and conditions of sale on your behalf while keeping in mind your needs. The completion of the offer to purchase, along with the deposit collection, and the submission of documents will all be handled by our trusted agents, thus making the experience memorable and stress-free. \nWant to learn more about our trusted \nagent services\n? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/icon-city-petaling-jaya-mixed-development-seamless-fluidity/", "title": "Icon City at Petaling Jaya: Mixed Development with Seamless Fluidity", "body": "Written By:\n Henny Maherah\nLocated at the core of Petaling Jaya, Selangor, Icon City truly lives up to its name. Against the natural backdrop of the Kuala Lumpur skyline, this highly-sought after development is the perfect urban sanctuary. \nEndorsed by the Malaysia Super Corridor (MSC) for its groundbreaking tech-savvy features, Icon City provides a seamless and convenient lifestyle for its residents.\n3 Features of Icon Residence: City of the Future\n1. Integrated living and seamless transitions\nIcon City is a mixed integrated lifestyle development with your everyday lifestyle needs right at your fingertips. Icon City comprises both residential, office, and commercial spaces. There are 30 units of shop offices, 46 units of retail shops, a hotel, and a shopping mall.\nUnique to Icon City is its small office virtual office (SoVo) tower, which was developed to cater to businessmen who are constantly on the go. SoVos are an all encompassing sanctuary where business meets leisure. All SoVo units are equipped with high-speed broadband features and a secretarial centre with video conference facilities. A sky garden and upcoming executive lounge are also available, along with a sauna, gym, and jacuzzi facilities. \nLocated in Icon Residenz 1, a 2-acre central park provides conducive space for an afternoon of relaxation. A Gourmet Street is also nearby to satisfy your gastronomic cravings. Over at Icon Residenz 2, a hotel and shopping mall the size of Mid Valley Mega Mall offers high-end retail brands. Luxury amenities such as a pool, gym, and sauna are also available for residents to retreat into tranquility.\n2. Prime location near major highways\nLocated at the intersection between Federal and Lebuhraya Damansara Puchong (LDP) Highway, accessibility won\u2019t be an issue at Icon City. It is also well connected to other highways such as the New Klang Valley Expressway (NKVE), ELITE Highway, New Pantai Expressway (NPE), and Shah Alam Expressway (KESAS). \nFor a fuss-free commute, Icon City is in close proximity to Seri Jaya KTM, Seri Setia KTM, and Kelana Jaya LRT stations. \nLocated at the core of Petaling Jaya, Selangor, Icon City truly lives up to its name. Against the natural backdrop of the Kuala Lumpur skyline, this highly-sought after development is the perfect urban sanctuary. \nEndorsed by the Malaysia Super Corridor (MSC) for its groundbreaking tech-savvy features, Icon City provides a seamless and convenient lifestyle for its residents.\n3. Function and fashion under one roof\nApart from the smorgasbord of retail amenities and recreational facilities, Icon City does not skimp on architectural aesthetics and functionality. The interior design at Icon Residenz 1 and 2 balances practical utility and comfort, all optimised to fit within one sophisticated space.\nIcon City caters to residents of varying needs. For the businessman who needs a conducive home and office, 2- and 3-bedroom units are available with sizes ranging from 675 sqft to 1,405 sqft. Dual-key units are also available, with studio attachment units that make rental and space allocation easy. This floorplan is also ideal for multi-generational families who would prefer some privacy while living under the same roof.\nThe city from the future is here! With tech-savvy connectivity and seamless accessibility to all your everyday needs, Icon City is the perfect home for the urban family.\nGrab this opportunity and make Icon City your home! Get in touch with our \nin-house agents\n to secure your dream home!\nCall +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/impact-movement-control-order-malaysia-property-market/", "title": "Impact of Movement Control Order On Malaysia Property Market", "body": "The implementation of the Movement Control Order (MCO) 2020 by the Malaysian government due to the COVID-19 crisis has caused many home buyers, sellers, tenants and landlords to press pause in their property transaction journey. Ohmyhome\u2019s Property Agent, Vince Lai, shared his thoughts on the MCO impact on Malaysia\u2019s property market. \nAccording to Vince, the restriction of movement would see a halt in all businesses tied to the industry. All developer sales galleries would be closed, and there would be no viewings during the two weeks (18-31 March 2020) of the MCO. This means no buyer or seller activities can take place. Services such as construction, renovation, and legal conveyancing matters would also be unavailable. \nIf you prefer expert guidance, reach out to our friendly customer care team and start planning out the best ways to market their property once the order is lifted. Buyers and tenants can get matched with \nreadily available listings in our database\n. \nOnce the MCO is lifted, you\u2019ll have a headstart on your property journey! \nGive us a call at +60 16-299 1366 now\nThe uncertain property market might have you feeling stuck, but that isn\u2019t necessarily the case with Ohmyhome\u2019s one-stop housing solution. Whether you\u2019re a buyer, seller, landlord or tenant, head to the \nOhmyhome blog\n to answer some of your most pressing property-related questions, or to stay informed on the latest real estate news to make smart and informed decisions."}
{"url": "https://ohmyhome.com/en-my/blog/m-arisa-sentul-kl-city-exclusive-multi-level-sky-gardens/", "title": "M Arisa at Sentul, KL City: Exclusive Multi-Level Sky Gardens", "body": "Featured Photo Source: Mah Sing Properties, M Arisa\nWritten by\n: Syasya Nur\nM Arisa, a serviced residences complex at Sentul, KL City. This 55-storey development grants visitors a prime address envied by many. Mah Sing Group once more launches a condo that seamlessly integrates nature into its building design and architecture, giving residents the perfect urban sanctuary in the outskirts of the city.\n3 Reasons Why M Arisa Is the Ideal Urban Sanctuary\n1. A Vertical Urban Forest\nA garden in the city is a luxury that you can indulge in at M Arisa, thanks to a multi-level sky garden that covers ten levels. Plants cascade over the edge, breaking up the monotony of the concrete jungle. The blue tones of the sky and green hues of the forestry form a harmonious whole at the sky garden and the rooftop sky garden. Bask in the breathtaking view of the city skyline while surrounded by lush greenery.\nSource: Mah Sing Propeties, M Arisa\n2. Unit Sizes for Every Family\nRanging from 1-bedroom to 4-bedroom apartments, you can choose the unit size that best fits your needs. Each unit is oriented to face either the north or the south to maximise the warm natural light in your home. M Arisa takes care of every detail to integrate nature into your living experience, ensuring that your future sanctuary is apt, suitable, and cosy for you and your family.\n3. The Perfect Balance of Privacy and Convenience\nGiven that M Arisa is interwoven between 4 matured neighbourhoods namely Batu Caves, Gombak, Kepong, Segambut, and Setapak, residents can look forward to convenient access to amenities. The condo is located a mere 5km from the KL city centre (KLCC), 7km from the Malaysia External Trade Development Corp Exhibition and Convention Centre, and 8km from Mont Kiara.\nResidents can enjoy being near enough to the city centre to benefit from convenient access to essential amenities, yet far enough for to enjoy the peace and quiet. M Arisa charters a direct shuttle to the Sentul Timur LRT for its residents. The condo is also accessible via the Duta-Ulu Klang Expressway (DUKE).\nWant to get a direct developer price for M Arisa?\nTalk to our \nexperienced real estate consultants\nCall +60 16-299 1366 to learn more!"}
{"url": "https://ohmyhome.com/en-my/blog/m-arisa-sentul-smart-living-contemporary-family/", "title": "M Arisa at Sentul: Smart Living for The Contemporary Family", "body": "Written By:\n Henny Maherah\nM Arisa by Mah Sing is located in the newly revamped neighbourhood of Sentul, Kuala Lumpur. This sustainable development interweaves energy-efficient features into the urban architecture, bringing the tranquility of nature into your home. With optimistic prospects of the surrounding neighbourhood, M Arisa in Sentul is a home to look out for.\nM Arisa at Sentul: Modern Living in the Heart of Kuala Lumpur\nSmart Living For The Urban Family\nWith units ranging from a one-bedder to four-bedder apartments, M Arisa has a place for every family, regardless of size, to call home. \nUnique to M Arisa is its energy-efficient features that are seamlessly integrated into the vicinity. A rain harvesting system supplements water usage of the development, placing less strain on water wastage. An urban farm is also available in the compound, providing opportunities for families to harvest their own edible plants. \nWith nature running seamlessly through the development, M Arisa specially curates not one, but three sky gardens. These sky gardens are easily accessible from all levels.\nLow Density, High Vibrancy\nWhile a wide variety and magnitude of units are available, this does not translate to an overwhelming volume of residents that could be a concern for certain families. \nOver 50% of units are mostly built for single individuals and smaller families, effectively controlling the density of residents in the vicinity. Towering at 49 levels, M Arisa remains spacious and peaceful for families to roam around effortlessly.\nOptimistic Investment Opportunity\nWith an affordable starting price from RM299,000, M Arisa is an ideal start for first-time buyers with plans to settle down. This would also be ideal for buyers seeking to rightsize in the heart of Kuala Lumpur. \nMore importantly, promising developments in the Sentul district would definitely make it the up and coming neighbourhood to look out for, with M Arisa at the core of it all.\nFuture changes in Sentul includes the \n YTL Land\u2019s Sentul Masterplan \n that plans to expand the neighbourhood into Sentul East and Sentul West, creating specialised spaces for the thriving arts and nature scene in Sentul. \nBe one with nature without losing touch of the city! M Arisa provides the best of Kuala Lumpur all from the comforts of your home. Learn more about \n M Arisa \n and why it is the perfect home for you! \nReady to invest in the home of your dreams? Talk to our trusted \n in-house agents \n to kickstart your home buyer journey!\nCall us at +60 16-299 1366"}
{"url": "https://ohmyhome.com/en-my/blog/m-aruna-rawang-serene-and-secure-township/", "title": "M Aruna at Rawang: A Serene and Secure Township", "body": "Featured Photo Source: Mah Sing Properties, M Aruna\nWritten by\n: Syasya Nur\nDo you want to escape the frenzy of city life and cacophony of traffic? Bask in serene and picturesque rows of two-storey terraced houses in M Aruna. This mature and thriving suburbia nestled in Rawang brings you an exclusive residential lifestyle like no other. Beautifully landscaped with facilities that seamlessly integrate nature\u2019s best traits, your family can look forward to a luxurious living experience.\n3 Reasons Why M Aruna Is Perfect For Your Family\n1. Top-Notch Design and Construction\nM Aruna is the first pilot project to adopt the Industrialised Building System (IBS) using precast technology, which reduces workmanship faults. Each part of the structure is constructed with a high attention to detail in a controlled environment. As a result, the homes in this development are durable and ready to withstand long-term wear and tear.\nOn top of that, the meticulous north-south orientation of all houses minimises direct glare from the heat of the sun. Calming breezes are intended to ventilate and cool the interior of houses. Residents can enjoy the natural light from the sun throughout the day.\n2. Premium Outdoor Facilities\nFacilities at M Aruna are designed with nature in mind. In this community, you can take in the fresh morning breeze that\u2019s free of the pollution of the city. Step outside for a refreshing morning jog on the jogging track or cycle around the bicycle park. Let your kids get their healthy and much-needed playtime at the fun treehouse-themed playground.\nWith many more facilities like the outdoor gym, reflexology path, hammocks, and more, you won\u2019t run out of outdoor fun at M Aruna.\nSource: Mah Sing Proprties, M Aruna\n3. Accessible Shopping Centres and Schools\nLife at M Aruna is like living in your private sanctuary with the freedom to step out whenever you desire \u2013 minus the hustle of the city. The Moga Jaya Mini market is conveniently located an 11-minute walk away from this opulent township.The nearest shopping mall, AEON Rawang, is also only 5 km away.\nThis secure community is surrounded by schools, making commuting easy for your children. The nearest schools, SK Taman Desa 1 & 2, are a mere 2 km away. Other options within a 9-km radius of the residence include:\nSJK \u00ac\u00a9 Kota Emerald\nSJK \u00ac\u00a9 Kundang\nSK Sinaran Budi\nSK Rawang\nWant to get a direct developer price for M Aruna?\nTalk to our \nexperienced real estate consultants.\nCall +60 16-299 1366 to learn more!"}
{"url": "https://ohmyhome.com/en-my/blog/m-centura-sentul-kl-city-affordable-freehold-residence-eco-friendly-features/", "title": "M Centura at Sentul KL City: Affordable Freehold Residence With Eco-friendly Features", "body": "Featured Source Image: Mah Sing Proprties, M Centura\nWritten by\n: Syasya Nur\nM Centura is indeed one of a kind. This luxury freehold is slated for completion in 2021. With a starting price of RM350,000, M Centura boasts of eco-friendly features and opulent facilities. Not only that, this property is a mere 5km away from KLCC for unparalleled convenience and accessibility.\n3 Reasons to Invest in M Centura\n1. Eco-Friendly Design and Construction\nMah Sing, the developer of M Centura, transplanted 450 trees aged 10 years and above during construction. This emphasis on sustainability is apparent in the building\u2019s eco-friendly and tech-savvy amenities, which prove that comfortable housing can blend with environmental responsibility.\nThese green features include a top-grade rainwater harvesting system, vertical planting, and tree preservation. Owners of electric cars can utilise the electric vehicle (EV) charging stations located within the property.\n2. Lifestyle Resort Facilities\nM Centura\u2019s condo facilities offer opportunities for recreation and relaxation. Check in to the exclusive floating gyms, each overlooking the 50m Olympic-length swimming pool and children\u2019s pool. Pump iron with a view in the picturesque gym. Prefer the outdoors? Work up a sweat in the badminton courts over a friendly game.\nPrefer a less taxing activity? Soak in the spa pool and feel the stress of the day melt away. You can enjoy resort-like amenities without stepping a foot outside the building.\nSouce: Mah Sing Properties, M Centura\n3. Prime Location and Modern Amenities\nM Centura is a mere 5km away from the city centre, which makes driving to major towns an easy feat. This luxury freehold is also connected to Duta-Ulu Klang Expressway (DUKE), The Kuala Lumpur Middle Ring Road 2 (MRR2), and Karak Highway.\nResidents who prefer public transportation can take the specially-chartered shuttle buses to the nearest LRTs (Sentul Timur) and MRTs (Sentul, Kampung Batu, Batu Ketonmen), which connect to other parts of the district.\nWant to get a direct developer price for M Centura?\nTalk to our \nexperienced real estate consultants.\nCall +60 16-299 1366 to learn more!"}
{"url": "https://ohmyhome.com/en-my/blog/m-oscar-kuala-lumpur-luxury-freehold-close-klcc/", "title": "M Oscar Kuala Lumpur: A Luxury Freehold Close to KLCC", "body": "Featured Photo Source: Mah Sing Properties, M Oscar\nWritten by\n: Syasya Nur\nM Oscar is a freehold project near Kuchai Lama developed by the Mah Sing Group. This property features two blocks of serviced apartments and a total of 910 units. Surrounded by mature neighbourhoods like Sri Petaling, Bukit Jalil, and Salak South as well as renowned establishments like Suria KLCC and Mid Valley Megamall, it\u2019s no wonder that M Oscar is highly sought after.\n3 Reasons to Invest in M Oscar in Kuchai Lama\n1. Serviced and Dual-Key Apartments\nRevel in the picturesque views of the iconic Kuala Lumpur City Centre (KLCC) skyline. The north-south orientation of all units gives residents an unobstructed view 100m above sea level and also shields them from the direct glare of the sun. The best part? This condo features four unit types: two bedrooms, three bedrooms, four bedrooms, and even dual-key layouts. You\u2019re sure to find the unit suitable for your family\u2019s needs.\n2. Premium Facilities for the Family\nInterested in a swim? The design of the azure pools in M Oscar are inspired by meandering streams and wetlands. This condo also features a well-equipped gym, yoga room, and jogging track to keep residents fit. Bring your kids down for a fun bonding session in the playground or have a friendly ping-pong match. Here at M Oscar, you won\u2019t run out of opportunities to spend time with your family.\nSource: Mah Sing Properties, M Oscar\n3. Amazing Accessibility and Connectivity\nM Oscar is accessible via Jalan 2/149, which is also connected to the Kuchai Lama interchange of Maju Expressway (MEX). Getting here by car is a breeze via these major roadways: KL-Seremban Expressway, New Pantai Expressway (NPE), Shah Alam Expressway (KESAS), and Kajang Dispersal Link Expressway (SILK).\nPrefer to commute? The nearby Taman Naga MRT station will start to operate in 2022. Residents intending to travel to other parts of the district can hop aboard the train for a fuss-free commute. M Oscar also offers a premium shuttle bus service to and from the MRT station, which is just 800 metres away.\nWant to get a direct developer price for M Oscar?\nTalk to our \nexperienced real estate consultants.\nCall +60 16-299 1366 to learn more!"}
{"url": "https://ohmyhome.com/en-my/blog/m-oscar-kuchai-lama-live-among-stars/", "title": "M Oscar @ Kuchai Lama: Live Among The Stars", "body": "Award-winning property developers, Mahsing, are excited to introduce their newest freehold residential development, M Oscar. This property will surely be the jewel among the stars, as their tagline suggests. It is located just off the matured yet continuously developing Kuala Lumpur (KL) suburban area known as Kuchai Lama. \nKuchai Lama has a lot to offer its potential residents, and M Oscar is the perfect place to live and experience all of it. \nHere\u2019s why you should consider making it your next property investment.\nThe Units\nBuilt with its surroundings in mind, the developers were eager to showcase the beautiful skyline of KL\u2019s by making sure that there were little to no obstructions when being viewed from any one of the units. The main residential structure is made up of two blocks, each having either a north or south orientation perspective. The property is designed with three features in mind \u2013 canyons, stars, and water \u2013 thus creating an inviting atmosphere unique to M Oscar. \nThere are 910 residential units in M Oscar, ranging from 708sq ft to 1,198 sq ft with two to four bedrooms options respectively. There are four different types of units available and each unit will be given two to four parking spaces each, depending on the type of unit the buyer chooses. The starting price for an M Oscar unit is from RM428, 000, making it an affordable option for those looking to live close by KL\u2019s city centre. \nFacilities\nM Oscar is an elevated project that houses a \n2.7-acre facility podium\n where residents can relax by the pool after a long work week, and re-energised for the coming one. There are 12 different facilities and 34 activity areas that are on the podium deck, several of them are social spaces for the whole family to enjoy and reconnect. Residents will have access to the jacuzzi, playground and a multipurpose hall among others. \nThe deck is also equipped with community spaces to create a bond between the residents, these areas include the community farming and community hangout deck. There are more than five different areas designated for residents to get their fitness on, from the yoga and tai chi deck to the indoor and outdoor gym. Create special memories with loved ones during a walk down the 100m starlight walk, or take great photos at the sunset deck. \nAccessibility\nThe cherry on top of this property sundae is the accessibility that comes with the strategic location of M Oscar. Whether you want to run into the city for a quick bite, or perhaps head down to Shah Alam to visit loved ones, nowhere is too far with the recent developments and improvements made to link several highways that lead in and out of Kuchai Lama. The Kuala Lumpur-Putrajaya Maju Expressway (MEX), Shah Alam Expressway (KESAS), Sungai Besi Expressway, SMART Tunnel, Federal Highway and New Pantai Expressway (NPE) are just some of the highway links that enable residents to quickly and easily travel wherever they need to go. \nThe MRT2 project that is currently in works with stations in both Kuchai Lama and Taman Naga Emas will be completed a year before M Oscar completion date in 2023. The MRT2 station is an effort to upgrade the current public transport issues faced in the area, and to provide better connectivity options through the Sungai Buloh-Serdang-Putrajaya Line. \nYour Dream Home\nM Oscar is designed with the needs and wants of their residents in mind. This is why it\u2019s so easy to see yourself living here be it as a bachelor, a loving couple or a growing family. \nM Oscar has so much to offer, and when paired with its reasonable price tag in a location filled with new opportunities to explore, you\u2019ll surely be living your best life for years to come. \nExcited to become a resident of M Oscar? We don\u2019t blame you! Talk to our real estate consultants and get VIP agent service. Call +60 16-299 1366 now!"}
{"url": "https://ohmyhome.com/en-my/blog/m-vertica-cheras-magnificent-living-metropolis/", "title": "M Vertica at Cheras: Magnificent Living in the Metropolis", "body": "Written By: \n Henny Maherah \nM Vertica by Mah Sing leads the new wave of luxury living in Malaysia. Located at the city fringe in Cheras, M Vertica offers the best of Kuala Lumpur at an affordable price. With an expansive landscape and facilities deck, M Vertica is a perfect home for the urbanite seeking solace.\nExperience Modern Living at M Vertica\nMeditate Amid the Metropolis\nOffering a complete range of facilities at an attractive price, M Vertica does not skimp when it comes to quality living. M Vertica boasts of a 4.54-acre facilities deck, the largest recreational podium in Kuala Lumpur. With 38 facilities, relaxation is made easy at M Vertica. \nFacilities include a 400-metre bicycle and jogging track, a 4,000-sqft luxury gym, a basketball court, badminton court, futsal court, and tennis court. A special women\u2019s gym provides a safe space that empowers women to work out together in comfort. \nCommute With Carefree Convenience\nA quick 6-minute walk along a covered walkway brings you to the LRT and MRT station interchange. Direct access to the Sungai Besi Highway gets you to the city hub that houses Kuala Lumpur City Centre, Petaling Jaya, and Mid Valley, all at your convenience. \nRetail and dining options are always aplenty, with Aeon Taman Maluri, Sunway Velocity Mall, IKEA, and MyTown Cheras just a stone\u2019s throw away. For professionals who are always on the go, the Tun Razak Exchange (TRX) business hub is a short 15-minute drive away. \nA Promising Property Investment\nFor those seeking to invest in a property with a promising outlook, M Vertica is the perfect start for you. Starting out at an affordable early bird price of $530 per sqft, the value of this condo is expected to further appreciate as exciting developments are expected in the area . \nFuture developments in the vicinity include key mixed-use high-rise establishments where business and leisure converge. These upcoming projects are sure to drive up demand, and M Vertica residents will be at the heart of it all. \nGrab this exclusive chance to secure a home at M Vertica. It\u2019s a decision you and your future self will be grateful for!\nReady to secure a slice of luxury living at M Vertica? Contact our professional \n in-house agents \n to kickstart your home buying journey.\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/mortgage-rate-movements-during-market-downturn/", "title": "Mortgage Rate Movements During a Market Downturn", "body": "One of the concerns most property investors have when purchasing a property is not just which property to buy, but exactly when they should buy it.\nSome may wish to purchase as soon as possible to avoid paying rent. Others prefer to take advantage of lucrative deals provided by the property developer.\nBut for many property investors, they would buy properties if two conditions are met: low housing prices and low interest rates. Today, we will be focusing on the interest rates.\n3 Key Questions About Mortgage Rates During the COVID-19 Pandemic\n1. When exactly does the interest rate become low?\nDifferent countries have different metrics to gauge national interest rates. The US, for example, uses the Federal Reserve Rate, or Fed rate, as an indicator of where the interest rate movement is headed, a term that you would most probably come across in financial newspapers.\nHere in Malaysia, we use the Overnight Policy Rate (OPR) as the indicator of the national interest rates. A decreasing OPR will likely result in lower fixed deposit rates, lower bond yields, and most importantly, lower loan interest rates.\nThe best way to determine whether the interest rates are relatively low or not is to study the historical movements of the OPR.\nAs you can see, the Malaysia interest rate has been hovering around 3% to 3.25% for the better part of the decade. But the country witnessed a huge dip in 2009, falling from a high of 3.5% to only 2%, due to the 2008 global financial crisis. \nOver a decade ago, governments had to step in to lower the interest rate in an effort to prop up the economy. The act of reducing the interest rates during an economic crisis is part of a popular economic school of thought called the Keynesian Theory.\nSo now we know that interest rates are low during an economic crisis, how about the situation now due to the COVID-19 crisis? \nThere have been some rapid developments since the outbreak. The OPR has been \ncut to 2.75% in February 2020\n, and 2.50% in Mar 2020, an extremely drastic movement similar to the ones made during the global financial crisis.\nOn 5 May 2020, the \nOPR is at 2%\n, a decrease from the previous OPR of 2.5% announced on 3 May 2020. \n2. Should you buy property during a low-interest rate period?\nNotice that while the OPR is at 2.50%, your loan interest rates are almost always higher than that at 3.75% or 3.50%. This is because most mortgage loans in Malaysia are semi-flexi or full-flexi loans, where the interest rates will change according to the interest rate movements. It is generally calculated as follows:\nBase Rate (BR) + Interest rate = Loan interest rate.\nA base rate is fixed, but the interest rate will float according to the existing interest rate. This is good news for property owners, who end up paying reduced interest rates overall. . \nWhat many investors may not realise that, while the BR is fixed, it is determined at the time your loan is approved. For example, securing a loan in 2009 would probably land you a BR of only 3.0%, but doing so in 2016 would probably land you a BR of 3.5%.\nWhy is this important? Remember that the BR will remain the same throughout the entire loan tenure. Securing a loan during a market downturn would effectively give you a 0.25%-0.50% reduction in interest rates for the following three decades or so.\nThat difference can be massive. If you were to opt for an RM500,000 loan for 35 years, a 4.20% interest rate would net you RM455,186 worth of interest payments. A 0.50% reduction would translate to RM62,767 worth of savings, or RM180 less in monthly instalments.\n3. What if you already have an existing loan?\nInterested in securing a housing loan amidst the COVID-19 crisis? You\u2019re ready to take advantage of the situation, but you realise that you are already in the midst of serving an existing loan.\nFret not! You can still secure a lower interest rate if you were to refinance your loan amidst this downturn. \nLoan or property refinancing essentially means taking out a new loan to pay off an existing one. Doing so will allow you to obtain better loan terms, such as a lower interest rate.\nNot only that, paying off an existing loan with a new loan, when your house value has appreciated, means that you almost always have a cash balance. You can use this windfall to go on vacation, start an emergency fund, or buy more properties to kickstart the process all over again.\nTake note that buying a new loan would essentially reset your loan, meaning you would have to pay a higher monthly instalment if your property value is appreciated. Not only that, but you would also have to service the loan for a longer period of time. This should not be an issue if the property is tenanted, where the rent would cover most of the loan instalments anyways.\nBeing placed in a low-interest-rate environment is very uncommon, and one can only expect to experience this only a few times within their lifetime. So you should definitely take advantage of the situation to take out a mortgage when it is cheap. You\u2019ll be one step closer in achieving a financially independent lifestyle.\nWant to learn more about our trusted \nagent services\n? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/moving-forward-how-hotel-businesses-plan-adapt-new-normal/", "title": "Moving Forward: How Hotel Businesses Plan to Adapt to the New Normal", "body": "Poor sales performance, delayed development projects, and mounting overhead costs \u2013 these are just some of the challenges that the hospitality industry has faced since the start of the COVID-19 pandemic. How are hotels and similar businesses responding to this situation?\nPlanned Reopenings for Hospitality Businesses\nHotels in Malaysia are scheduled to reopen in the later part of 2020. However, Malaysian hospitality businesses are expected to experience lacklustre performances across the board in Australia, Singapore, Canada, and China. \nLarge commercial conglomerates in Malaysia typically invest in offices, retail outlets, hotels, and other commercial units. However, groups are expecting abysmal returns on investments for the rest of 2020. \nMalaysian groups heavily rely on overseas businesses, and some groups have reported taking a hit of as much as RM148.63 million in the first quarter. These overarching losses are mainly due to foreign exchange currency loss influencing stock markets, as well as closed borders.\nLong-Term Planning for a Resilient Hospitality Industry\nEven so, operators remain optimistic as the hospitality and tourism industry has historically been one of the world\u2019s most resilient industries. In the first quarter of 2020, property investment divisions and property developments recorded healthy profits despite the current global pandemic. Moving forward, Malaysian groups will be relying on brokering, credit and lending, property investment, and property development, areas which have recorded higher profit contributions. \nLooking to invest in Malaysian property? Did you know that you can do that even when you are in Singapore? \nSearch\n on Ohmyhome. It\u2019s that simple!\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/new-vs-old-should-you-choose-a-subsale-or-new-launch-property-for-your-first-home/", "title": "New vs Old: Should You Choose A Subsale Or New Launch Property For Your First Home?", "body": "Choosing your first home can be a choice that significantly impacts your life for years to come. And while the age-old debate of new versus old properties may suggest that one option is a better choice, there are still many key factors to consider. We\u2019ll explore the pros and cons of each type of property and how it affects your home as your own stay and as a long-term investment.\n#1: Location\u00a0\nWith newer properties, you have more freedom and flexibility in the exact location of your property within the development.\u00a0\nIn a high rise, you would be able to pick and choose from hundreds of units at a time with multiple layouts and numerous customization opportunities at the tip of your fingers. These changes are also a lot more cost-efficient to your wallet for new properties.\u00a0\nHowever, with subsales, or properties that are slightly \u2018older,\u2019 you have the distinct advantage of a mature neighbourhood, which means you have instant access to established amenities such as schools, parks, public transportation, and eateries. This gives you a good idea of how convenient life would be after moving in, setting older properties as a safer option for you.\nIf you\u2019re looking to rent out a subsale property, you\u2019ll also have an easier time finding and convincing tenants to rent a home that\u2019s within an established neighbourhood. If you have a higher budget, you can even get creative with standing out in the market by renovating your property.\nWhen you engage any of \nour Super Agents at Ohmyhome\n, you will be getting someone who specializes in a particular town or area in Malaysia. And if you decide to move forward with the property, they\u2019ll ensure your entire experience is nothing short of a smooth and professional one.\u00a0\nYou\u2019ll be able to engage their network of experienced lawyers, previous clients, fellow agents, loan officers, and even contractors to make the transaction process that much smoother and quicker. Our agents will also have in-depth knowledge of the market and are experienced in dealing with buyers. And they\u2019ll be able to tap into their network of past and existing clients and work with co-brokers to get your home sold.\u00a0\n#2: Market Trends and Fluctuations\u00a0\nAnother important factor to consider is the investment potential of your property. When there is a significant movement in the economy, it\u2019s often followed by a parallel effect on housing demand.\u00a0\nWhen interest rates are lower, it might invite home sales and lead to an influx of homeowners within the neighborhood. Or if a bigger MNC or major commercial project establishes itself nearby, this can also cause a mini \u2018boom\u2019 of sorts in the demand locally.\nIn the discussion of market trends, demographics also play an important role as it is a clear indicator of the kind of neighbourhood it will be in the coming years. Areas with a larger group of young and single working professionals may be a sign of a higher potential for appreciation due to their rising purchasing power and desire for amenities as they start their own families.\u00a0\nWhile areas with a larger proportion of a retiree population may indicate lower demand, it actually poses a good sign for a more stable and consistent market value in the long term as they are less likely to move away from the neighbourhood.\n#3: Final Condition and Quality of the Property\u00a0\nWith subsale properties, what you see is what you get. You can easily inspect the property and its amenities, as well as check on any maintenance issues ahead of time before making a commitment to purchasing the entire home.\u00a0\nYou also have a clear track record of usage and occupancy, which means that you can gauge the quality of the home and its value based on its history.\nWhile you do have the choice to renovate the home and enhance the design, you are still limited compared to newer properties, as they are typically equipped with modern amenities and designs that appeal to contemporary lifestyles. This can add significant value to the property and attract tenants or buyers in the future.\nThe problem with new properties is that everything is still in the planning stage, and almost every detail is still a \u2018proposal\u2019 until the final build. Even then, it\u2019s not uncommon to discover multiple surprises and mismatches between the expected design and what you actually get after the completion of construction.\u00a0\nWith a subsale, you may have to do basic upkeep work like wiring, piping and basic repairs, you can see the quality and workmanship right from the get-go and see the actual condition of the property as it is \u2014 no delays, no surprises. This makes it a safer choice for first-time homeowners as there are a lot more variables in your control, which can be a favourable option financially.\u00a0\n#4: Upfront Cash Requirement\u00a0\nNew launch properties are often viewed as the more attractive contender in this category. With a common standard of a 10% downpayment, new launches offer a range of options with an upfront cash requirement of less than 10%.\u00a0 These projects often come with creative financing options that cater to first-time homebuyers, like no-money-down financing, attractive rebates, rent-and-buy schemes, and deferred payment schemes.\nHowever, despite having warranties or guarantees, buyers are still at risk of encountering structural issues or defects that may arise after the completion of construction. Even after a major repair or renovation, there may be underlying structural or design problems that are simply impossible to fix. For example, water leakage, incorrectly fitted windows or doors, or even missing fixtures and furnishings from what was initially promised in the inventory list.\u00a0\nIt\u2019s also worth considering that new properties can take years to be completed, leaving buyers exposed to market fluctuations and infrastructure changes that could impact the property\u2019s value. Proposed projects and initiatives are often contingent on multiple variables that may cause further delays, such as the Covid-19 pandemic, which caused a major disruption to the entire property market, causing delays for under-construction developments country-wide.\u00a0\nOn the other hand, subsale properties typically require a higher upfront cash payment and may come with additional costs such as transfer fees, legal fees, and stamp duties. But despite the higher upfront cash payment, subsale properties offer a set of attractive advantages to first-time homebuyers.\u00a0\na) Lower prices\nOne of the primary benefits of subsale properties is the potential for a lower purchase price. This can translate into lower monthly loan payments, which could make it easier for first-time buyers to manage their finances and build equity over time.\nb) Lower risk\nAnother advantage of subsale properties is that you can see exactly what you\u2019re getting. Unlike new properties that may only have floor plans and artist impressions available, subsale properties have already been built and can be inspected before purchase. This eliminates the risk of buying a property that doesn\u2019t meet your expectations, which is a common concern with new launches.\nc) What you see is what you get\nMoreover, subsale properties are typically located in established neighborhoods, which means that you can assess the local amenities, transport links, and overall livability of the area before making a purchase decision. This can be especially important for first-time home buyers in planning for their future.\nd) Immediate Move-In\nWith a subsale property, you won\u2019t have to wait years for your actual home to be built as you would with a new launch property. So you can move in immediately after selling your current home.\u00a0\nFind the best homes at the lowest prices with Ohmyhome\nWith Ohmyhome, we\u2019ll be by your side every step of the way.\u00a0\nFrom choosing a safe, convenient, and desirable area that meets your exact lifestyle expectations, guiding you through the various steps and expenses related to homeownership like mortgage payments and property taxes, to expertly negotiating and dealing with other sellers and agents \u2013 Ohmyhome Super Agents will have your back.\nOur agents have served more than 8,000 happy customers with over 70 families housed almost every single month. Secure an appointment with any of our Super Agents today by dropping us a message on \nWhatsApp\n or via our Live Chat at the bottom, right-hand corner of the screen.\u00a0\u00a0"}
{"url": "https://ohmyhome.com/en-my/blog/online-marketing-gets-more-popular-real-estate-agents-attract-foreign-buyers/", "title": "Online Marketing Gets More Popular for Real Estate Agents to Attract Foreign Buyers", "body": "Real estate agents around the world are finding ways to beat income losses due to the COVID-19 pandemic. One of them is to invest more in marketing to reach foreign buyers, which 22% of Malaysian agents agreed on according to a study by Juwai IQI.\nJuwai IQI, a privately held real estate sales and media company noticed that more real estate agents and property developers are turning to online marketing to launch their developments.\nThe study showed that:\n31% of Malaysian agents said foreign buyer activity has fallen significantly due to the rapid spread of COVID-19\n82% of Malaysian agents believe it is a \u201cgood\u201d or \u201cvery good\u201d time to buy property\n82% of residential real estate agents (worldwide) said the coronavirus pandemic has cut their 2020 earnings expectations.\n40% of agents worldwide say foreign buyer activity has fallen significantly.\nInvestors seem relatively unaffected, with only 10% of agents worldwide reporting that locally-based investor buyers have reduced their activity in the market due to concerns over COVID-19.\nSource: \nThe Malaysian Reserve"}
{"url": "https://ohmyhome.com/en-my/blog/osk-holdings-berhad-redirects-investment-focus-amidst-covid-19-outbreak/", "title": "OSK Holdings Berhad Redirects Investment Focus Amidst COVID-19 Outbreak", "body": "Due to the challenging market environment in light of the COVID-19 outbreak, OSK Holdings Berhad (OSK) has realigned its focus to avoid further losses this year. OSK aims to strengthen its \nprecautionary and recovery measures\n through land banking and improving its hospitality assets.\nRecovery Measures From Slow Growth\nFocusing on Land Banking and Fewer Launches\nPlacing its priority on long-term growth, OSK has decided to redivert its development plans towards land banking for future developments. By the end of 2019, OSK had accumulated developable land with a total estimated value of RM10.5 billion in Malaysia.\nDue to the \n unfavourable property market\n, OSK will be launching fewer projects this year. Instead, the focus will be channeled towards clearing overhang units before embarking on new launches.\nImproving Hospitality Assets\nGreater emphasis on OSK\u2019s hospitality assets is a response to increasing competition in the tourism industry. Airbnb, boutique hotels, and homestay properties have emerged as fierce competitors that have adversely affected the business outlook of OSK.\nIn response, OSK is partnering with Hilton Worldwide to enhance and rebrand Swiss-Garden Damai Laut in Lumut, Perak. Rebranding projects will be managed by DoubleTree by Hilton.\nOSK has also diverted RM35 million towards renovation projects that will commence this year. Rest assured, buyers can continue to look forward to new launches by OSK this year despite the slow growth in the Malaysian housing market.\nInterested in new property launches in 2020? Contact our \nin-house agents\n to find out more!\nCall us at +60 16-299 1366 now!\nSource: \nNST"}
{"url": "https://ohmyhome.com/en-my/blog/polluted-penang-river-heals-amid-covid-19-pandemic/", "title": "Polluted Penang River Heals Amid COVID-19 Pandemic", "body": "Not only do safe distancing measures, travel restrictions, and stay-home policies help break the chain of COVID-19 transmission, but they have also helped heal the 3.5km Penang River.\nGone is the pitch-black flow polluting the Straits of Malacca, as the river is now jade green with algae.\nDue to the movement control order (MCO) imposed to control the spread of the coronavirus, one of the dirtiest rivers in Malaysia is less polluted from human activity. The river\u2019s water quality was categorised at Class Four, just one step below the dead river category of Class Five.\nThe Penang River is in the Sungai Pinang river basin. This area covers about 50sq km, covering much of George Town and all of Ayer Itam plus Paya Terubong.\nThe Penang River was almost upgraded to a Class Two over 10 years ago. With the MCO extension, this may now be easier to achieve. \nOur team has put together a convenient pack for you and your family. Check out tips for maintaining your family\u2019s health, working remotely, facilitating home-based learning, and so much more. \nDownload for free!\nFor now, stay safe by \nboosting your body\u2019s natural defences\n. If you\u2019re working from home, here are some handy tips to \nmaintain productivity\n or \nremain focused even with kids around\n.\nSource:\nThe Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/prihatin-economic-stimulus-disbursement-and-special-relief-fund-smes/", "title": "Prihatin Economic Stimulus Disbursement and the Special Relief Fund for SMEs", "body": "As of 14 April, the Malaysian Finance Ministry has disbursed RM8.6 billion, equivalent to 25% of the total amount, was allocated for ministries and relevant enforcement agencies under the package. This amount accounts for about a quarter of the government\u2019s additional expenditure, totalling RM35 billion under the RM260 billion stimulus.\nOver six million people have received funds and one-off payments from the stimulus package. Finance Minister Tengku Zafrul said an additional 2.77 million new applications had also been received.\nApproval of Special Relief Fund (SRF) for SMEs\nMalaysian Finance Minister Tengku Zafrul said that RM1.48 billion in the Special Relief Fund (SRF) for small and medium enterprises (SMEs) under Bank Negara Malaysia had been approved as of 12 April. \nAs of 14 April, 2,958 SMEs had benefited from this package. The central bank announced that it had allocated RM5 billion, with a financing rate of 3.5% per annum and 5.5 years maximum tenure, to help manage the short-term cash flow issues faced by business owners adversely affected by the COVID-19 outbreak.\nWage Subsidy for SMEs\nOn 6 April, Prime Minister Tan Sri Muhyiddin Yassin said the wage subsidy programme had been expanded to RM13.8 billion from RM5.9 billion previously.\nThe government had received applications from 31,000 employers for 299,000 employees, involving an estimated allocation of RM307 million. According to official reports, 98% of the applications were made by SMEs with 75 or less employees.\nAs you face weeks of isolation and restricted movement, it\u2019s comforting to know that you can maintain your \nemotional and mental health\n. For even more peace of mind, here are tips for \nkeeping your home virus-free\n.\nIf you are thinking of buying, selling, or renting property while the Movement Control Order is in effect, don\u2019t worry! You can do property transactions from the comfort and safety of your home? Download the Ohmyhome mobile app from the \nPlay Store\n or \nApp Store\n.\nCall +60 16-299 1366 to find out more.\nSource:\nNew Straits Times "}
{"url": "https://ohmyhome.com/en-my/blog/property-developers-secure-sales-digitalisation/", "title": "Property Developers Secure Sales With Digitalisation", "body": "Written By:\n Henny Maherah\nThe Movement Control Order (MCO) in Malaysia was recently extended to June 9th. Since the MCO started, property developers have suffered as safe distancing measures prevent homebuyers from visiting viewing galleries or consulting with agents. \nGood thing is, property developers can turn to digitalisation during such challenging times.\nProperty Developers Ride Digitalisation Wave\nProperty developers have secured bookings worth RM37 million in April purely through digital platforms such as websites and mobile apps during the MCO period. Client consultation between buyers and housing agents were converted to online meetings. Virtual reality (VR) was also introduced to buyers to provide an immersive tour of property launches. \nChange in Perspective Among Buyers\nSome companies have adopted VR years ago, but this technology failed to take off as it did not resonate with buyers, who prefer face-to-face interaction.\nHowever, since the MCO period, buyers have become increasingly receptive to technological alternatives that will supplement their home purchase transactions. \nWith these two-way changes between buyers and property developers, the property market could emerge from its slow slump through digitalisation.\nOhmyhome Embraces Digitalisation\nHere at Ohmyhome, users are also joining the trend of digitalisation to enhance their home journey. Sellers and landlords can now upload home video tours to supplement their property listing. If you\u2019re unsure on where to start, we have an extensive guide on how to \nconduct a video tour \n for all those seeking to sell or rent out their property!\nInterested to explore the property market through the comfort of your screen? Download our free \nmobile app\n to kickstart your housing journey!\nSource: \nThe Star Malaysia"}
{"url": "https://ohmyhome.com/en-my/blog/property-development-resumes-taman-island-glades-penang-amid-mco/", "title": "Property Development Resumes in Taman Island Glades, Penang Amid MCO", "body": "Written By:\n Henny Maherah\nRecent slowdowns of property development in Malaysia can be attributed to the COVID-19 pandemic. But some developers like Ideal United Bintang International Berhad (IUBIB) are bucking the trend. The firm has resumed development of property under the 1Malaysia People\u2019s Housing government initiative.\nProperty Development in Taman Island Glades\nThe project comprises 1,611 units ranging from affordable to high-end. Affordable homes with prices ranging from RM300,000 to RM400,000 will be made available to an approved list of buyers. High-end homes would be open to the property market at prices up to RM700,000.\nIUBIB\n reports that the development project is scheduled for completion in 2024. \nChallenges for Property Developers Amid COVID-19 Pandemic\nEven as property developers aim to continue with projects, newly updated safe distancing measures and shorter working hours for employees will present new challenges within development sites. \nAccording to Tan Sri Ooi, these challenges will not halt the scheduled timeline of projects because acceleration plans have been implemented to ensure maximum efficiency during the shorter working hours. Machinery would also be more heavily deployed to further enhance efficiency. \nApart from IUBIB, other home development projects have also been given the green light, primarily for G1 and G2 construction companies that do not exceed RM500,000. These projects have been approved by the Malaysian Construction Industry Development Authority (CIDB), assuring homeowners in Malaysia that their properties are secured even during these challenging times. \nInterested in new launches and upcoming property projects?\nDownload our free \nmobile app\n to browse through listings or our \nwebsite\n to find your dream home.\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-bursa-malaysia-mah-sing-group-and-knight-frank-malaysia-prihatin-my/", "title": "Property News: Bursa Malaysia, Mah Sing Group, and Knight Frank Malaysia on Prihatin", "body": "Bursa Malaysia\u2019s Positive Market Outlook\nBursa Malaysia ended higher today buoyed by a strong market optimism and outlook for the domestic market following the unveiling of RM250 billion Rakyat Prihatin economic package by Prime Minister Tan Sri Muhyiddin Yassin earlier.\nAccording to an analyst, the stimulus package is a comprehensive approach by the government to tackle the obstacles faced by everyone including corporate sectors, and is expected to boost the economy in the long run.\n\u201cBesides putting money into people\u2019s hands, consumer power and jobs will continue to be on the upside, while purchasing power will trend higher,\u201d she said.\nSource: \nMalay Mail\nMah Sing Group on Prihatin Package\nThe Prihatin Rakyat Economic Stimulus Package (Prihatin) is a decisive and substantial set of proposals to address the uncertainty faced by vulnerable groups and sectors, describes property developer Mah Sing Group Bhd. \nPrihatin, the RM250 billion package would ensure immediate cash injection for:\nBottom 40% household income group (B40) \nMiddle 40% household income group (M40) \nSmall and medium enterprises (SMEs)\nIts main purpose is to preserve jobs, protect businesses and boost the economy which was affected by the Movement Control Order (MCO) in battling COVID-19.\nSource: \nMalay Mail\nKnight Frank Malaysia Suggests More Initiatives on Top of Prihatin\nKnight Frank Malaysia applauds the Prihatin Rakyat Economic Stimulus Package (Prihatin) but feels more initiatives should be directed to sustain the economy and businesses.\nSince the Movement Control Order (MCO), there have been disruptions to the property transaction process \u2013 buyers and sellers have adopted a wait and see approach. More job layoffs may result in an increase in non-performing loans that would lead to more auctions in the market.\nBesides the automatic six-month moratorium on all bank loans, Managing director Sarkunan Subramaniam suggests:\nProperty taxes waivers such as quit rents and assessment for the second half of 2020\nFurther stamp duty to be reduced and tax reliefs for landlords who grant rent waivers to their tenants\nWe have asked Ohmyhome\u2019s Real Estate Negotiator Sherene Chin on her views on Bursa and Prihatin, she said, \u201cThis is definitely a good move by the government. A lot of SMEs suffer huge losses from the MCO, and without any support, many entrepreneurs will need to wind up their businesses or retrench employees.\u201d\nSource: \nThe Borneo Post"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-covid-19-automatic-moratorium-loans-and-impact-property-developers-my/", "title": "Property News COVID-19: Automatic Moratorium Loans and Impact on Property Developers", "body": "Automatic Moratorium on All Loans, Principal and Interest for Six Months\nAccording to analysts, Bank Negara Malaysia\u2019s directive for banks to offer automatic moratorium to individual and SME borrowers is meant to cushion short-term stresses on the banking system.\nThe automatic moratorium should be applied to all loans, principal and interest (except credit card balances) for six months until September this year. Lending requirements to the property sector, share financing and unit trusts have been immediately uplifted.\nSource: \nNew Straits Times\nCOVID-19\u2019s Impact on Property Developers\nProperty sales galleries remain closed and construction works have halted until the extended Movement Control Order (MCO) ends on 14 April 2020. Although Bank Negara\u2019s six-month loan deferment package is helping to ease the situation, developers still need to bear operational costs such as salaries.\nAccording to RHB Research Institute senior analyst Loong Kok Wen, it is difficult to make equity calls or secure new bank loans now, thus, smaller developers with poor performance risk winding-up. She added, \u201cAlthough there is currently very little demand in properties, with some demand suppressed now, it might result in pent-up sales upon recovery of the market.\u201d\nSource: \nEdgeprop Malaysia"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-covid-19-more-property-auctions-and-prihatin-package/", "title": "Property News COVID-19: More Property Auctions and PRIHATIN Package", "body": "Expect More Property Auctions as Economy Weakens\nThere may be more pressure on Malaysia\u2019s economy affecting the housing property market resulting in more properties expected to be put up for auction in the near future. This is due to the present COVID-19 pandemic and the Movement Control Order (MCO).\nOhmyhome\u2019s Real Estate Negotiator, Vince Lai, shares his thoughts on what could help in times like this. He said, \u201cStamp duty reduction or waiver will definitely help to boost activities in the market. Buyers will need more incentives to buy now versus later.\u201d\nSource: \nEdgeprop MY\nPRIHATIN Package May Not Be Enough to Help Businesses\nAccording to Fitch Solutions Country Risk and Industry Research, most businesses will not be able to qualify for the wage subsidy scheme in the government\u2019s PRIHATIN stimulus package. \nWage subsidies only apply to the lower-income workforce earning below RM4,000. Businesses have to prove that their revenues have contracted by at least 50% in the year-to-date of the application. \nThe stimulus package is not as robust as the ones in China and Singapore, which have far more generous schemes, rental waivers, property tax reductions and a freeze on government fees and charges.\nOhmyhome\u2019s Real Estate Negotiator, Eric Cheah said, \u201cThe package will help some, no doubt, but a major percentage of employees aren\u2019t able to enjoy the coverage. Perhaps the government could use more funds to prevent an economic meltdown, like providing precise cash support to companies \u2013 this helps prevent collapses and safeguard businesses.\u201d\nSource: \nEdgeprop MY"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-gamuda-lands-ola-singapore-receives-overwhelming-interest-despite-covid-19-situation-my/", "title": "Property News: Gamuda Land\u2019s OL\u221a\u00c5 in Singapore Receives Overwhelming Interest Despite COVID-19 Situation", "body": "Gamuda Land\u2019s OL\u221a\u00c5 executive condominium (EC) in Sengkang, Singapore has received over 1,100 registrations online since the e-application started on Feb 15. According to its chairman Datuk Chow Chee Wah, OL\u221a\u00c5 continues to thrive in the property market despite the current Covid-19 pandemic and economic uncertainties. This is due to the affordability of ECs.\nTOP, units and prices offered\nHe added that the Housing Development Board (HDB) of Singapore is currently going through e-balloting exercise. OL\u221a\u00c5 is Gamuda Land\u2019s second project in Singapore and it is slated for completion in 2023. This Spanish-themed development offers 548 units of two- to five-bedroom units ranging from 775 sqft to 1,722 sqft, with prices starting from $1,100 per sqft.\nReasons why OL\u221a\u00c5 is an ideal home\nOhmyhome\u2019s Private Property Sales Manager, Louis Tay said, \u201cBeing the only EC launching in District 19 this year, it\u2019s no wonder OL\u221a\u00c5 is a hot favourite. The range of units offered has met the demands of many HDB flat sellers and new homeowners.\u201d\nWhat makes OL\u221a\u00c5 attractive is not just the EC concept but also it\u2019s the location, design and facilities. Residents can look forward to Spanish manufactured fixtures in their homes. Facilities include a bar, clubhouse, lounge, studio, gym, valley walk, biodiversity pond, sensory garden, forest stream deck, and more.\nLooking to invest in a Singapore property? Talk to our real estate consultants and get VIP agent service.\nCall +65 6886 9009 to learn more now.\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-officials-are-taking-action-illegal-real-estate-agents-malaysia-my/", "title": "Property News: Officials Are Taking Action on Illegal Real Estate Agents in Malaysia", "body": "In order to protect the property buyers who are at risk of losing their money, and to avoid jeopardising the professionalism and accountability of the real estate industry in Malaysia, foreign real estate agents or developers are required to engage a locally registered real estate agent or firm to market any property.\nWhat are the current real estate issues in Malaysia?\nOver 100,000 real estate agents are operating without a licence in Malaysia and the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) together with the police are tracking them to protect the local property market. With more than 50 real estate frauds reported monthly, the number of illegal and unregistered real estate brokers are increasing.\nForeign real estate agents or developers are selling properties on their own in Malaysia. \nForeign agents (from countries such as Singapore, Hong Kong and Japan) have been advertising Malaysian properties for sale, both locally and abroad.\nForeign developers are selling properties to Malaysians without getting BOVAEP approval.\nWhat are the consequences for those who transact properties in Malaysia illegally?\nAnyone operating illegal and unregistered real estate transactions will face:\nA fine not exceeding RM300,000; or\nImprisonment for a term not exceeding 3 years; or\nBoth, and shall be liable to a further penalty of RM1,000 for each day during the continuance of such offence.\nThis also applies to any person who aids and abets in the commission an offence under this Act*. \nMalaysian Institute of Professional Estate Agents and Consultants (MIPEAC) urges the public to lodge reports on any activities undertaken by illegal real estate brokers to effectively curb the problem.\nAct*: Act 242 (Part VIII, Section 30) states that any person who acts as an estate agent whether the primary or principal object of his business is an estate agency or impersonates a registered estate agent\n.\nEveryone deserves a safe and secure home transaction. You can trust Ohmyhome when buying, selling, or renting your property in Malaysia.\nCall +60 16-299 1366 to learn more now.\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-penjana-stimulus-package-closure-penang-holiday-site-and-home-ownership-campaign-malaysia/", "title": "Property News: PENJANA Stimulus Package, Closure of Penang Holiday Site, and Home Ownership Campaign in Malaysia", "body": "Written By:\n Henny Maherah \nMalaysia has been swept by new changes as the economy begins its recovery since the relaxation of the Movement Control Order (MCO). Key developments include revisions designed specifically to respond to the impact of COVID-19 on the property market. \nPENJANA Stimulus Package and the Reintroduction of the Home Ownership Campaign\nOn 9 June 2020, the Malaysian government issued its fourth economic stimulus package, the \nPelan Jana Semula Ekonomi Negara (PENJANA) package\n. Valued at 35 billion ringgit (US$8.1billion), the package aims to help Malaysians who have lost their jobs or experienced pay cuts as a result of the pandemic. The measures included in PENJANA include job protection and tax incentives as well as financial assistance for small and medium-sized businesses (SMEs). \nThe \nHome Ownership Campaign (HOC)\n will also be reintroduced as part of the PENJANA package to encourage more property buyers among Malaysians. Previously, the HOC \nsuccessfully ran in 2019\n, clearing \n31,415 residential units\n, valued at RM23.2 billion as of November 2019, surpassing the initial target of RM17 billion. \nMalaysians will be able to benefit from the HOC in 2020 in several ways: \nTax exemptions\n when purchasing property\n10% discount from participating developers on the price of the property \nAll properties sold from 1 June 2020 till 31 December 2021 will be exempted from real property gains tax\nSince the introduction of these measures, there has been increased interest from homeowners looking to sell their property. \u201cWe are seeing more motivated sellers willing to negotiate prices as they know buyers have more choices,\u201d stated Lim Boon Ping, president of the \nMalaysian Institute of Real Estate Agents reports.\nMalaysian Tourism Sector amid Nationwide Tourism Campaign\nPrior to the outbreak of COVID-19, the Ministry of Tourism, Arts and Culture (MOTAC) announced the fifth \n Visit Malaysia 2020 (VM2020)\n. According to \n Minister Datuk Seri Nancy Shukri\n, the campaign aims to \u201cstrengthen the country\u2019s competitiveness and sustainability in tourism while ensuring the industry is inclusive.\u201d \nUnfortunately, the pandemic resulted in the immediate cancellation of VM2020 as both domestic and international travel are prohibited worldwide. Within the first quarter of the year, the tourism industry suffered a loss of RM9 billion. \nIn a recent survey, about \n15% of the hotels \n in Malaysia voiced apprehensions that they will not survive the impact of the outbreak and will have to resort to permanent closure. Several hotels ceased operations for good during the MCO, among them the Holiday Inn Resort in Batu Ferringhi. Despite its four-decade history as a tourist favourite in Penang, this landmark hotel was not spared from the economic impact of the pandemic. \nProperty Developers Change Strategies in New Normal\nProperty developers are encouraged to follow a two-pronged approach in managing the property market as demand gradually picks up.\nDeveloping more affordable housing priced at RM500,000 and below\nContinued efforts to clear overhang units, 80% of which come from the premium real estate sector\nMore Affordable Housing Units\nCeiling prices of affordable houses will face a reduction in an attempt to ensure housing remains accessible to all. In Penang, a \n 10% reduction for affordable homes priced beyond RM72,500 \n has been applied in June 2020.\nProperty developers in Malaysia are also adopting business strategies to fit the new normal. Some of them are focusing on competitively priced essential homes in strategic locations.\nEssential homes refer to developments that focus on sustainability. Eco-friendly features would be integrated into these developments. Proposed locations of such developments include Melawati in Selangor, Sentul in Kuala Lumpur and Rubika in Butterworth.\nEfforts to Clear Overhang Units\nSpeaking at a \n press conference \n after the launch of Grand Marais Suite, Housing and Local Government Minister Zuraida Kamaruddin explained that plans to revise property sales price and terms for foreign buyers have been made with the government in order to address the backlog of overhang units.\nResponding to these revisions, \n the Penang local government \n has reduced its minimum price threshold for foreign property ownership. This reduction will aid in the clearance of the remaining 3,043 overhang units worth RM2.6 billion total.\nAs the property market continues to grapple with the effects of COVID-19, targeted incentives and state initiatives will continue to help the Malaysian economy recover fully in the new normal.\nLooking to buy or sell your property? Talk to our \nin-house agents\n to find out how we can help you achieve your property goals!\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-real-estate-agents-fear-covid-19-will-affect-business-my/", "title": "Property News: Real Estate Agents Fear That COVID-19 Will Affect the Business", "body": "Since the \nMovement Control Order\n (MCO) which was imposed earlier this week, Malaysia Real Estate Agents fear that COVID-19 will worsen the business alongside existing issues associated with a soft market.\nAccording to Free Malaysia Today (FMT), inquiry calls have dropped sharply since the \nCOVID-19\n outbreak hit the headlines. Real Estate Agents also mentioned that there haven\u2019t been any requests for property viewings, either for rent or purchase.\nSolutions to Soften the Blow\nOhmyhome\u2019s Real Estate Negotiator, Vince Lai, shares his views on how the government can assist the real estate business in desperate times. \nHe said, the government can do the following to assist the real estate sector:\nProvide an exemption for stamp duty on a property purchase in 2020.\nA six-month moratorium for existing house mortgages has been granted. Perhaps, they can implement something similar for new property purchases as well, i.e. no loan repayment for the first six months to help with buyer\u2019s cash flow.\nHow Ohmyhome Manages this Situation\nAccording to Ohmyhome\u2019s Real Estate Negotiator Eric Cheah, it is quite impossible to schedule property viewings, even though there are still requests. There are roadblocks everywhere and people are not allowed to be further than 10km from their houses or else a summon will be issued. He said, \u201cOur Customer Service Team has arranged and informed prospect buyers about viewing appointments after the MCO ends.\u201d\nHe also added that this may be a good time to purchase properties as prices are decreasing. Those who are looking to invest will most likely buy properties which are already tenanted so they do not need to find their own tenant. \nStatistics by the National Property Information Centre show that 31,092 houses were unsold as of last September. The aggregated values of these units have dropped from RM19.54 billion in 2018 to RM18.8 billion in 2019.\nSource: \nFree Malaysia Today\nLooking to buy a property? \nBuy your dream home seamlessly\n with Ohmyhome. \nCall +6016-299 1366 to learn more now!"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-singapore-government-assist-employers-affected-malaysias-movement-control-order/", "title": "Property News: Singapore Government to Assist Employers Affected by Malaysia\u2019s Movement Control Order", "body": "Malaysia has implemented a nationwide Movement Control Order from March 18 to March 31, 2020. This order is enforced under the Control and Prevention of Infectious Diseases Act 1988 and the Police Act 1967.\nThe Singapore government says it will be providing employers with the financial support of S$50 per night for 14 nights for every worker affected by Malaysia\u2019s Movement Control Order. \nSingapore\u2019s Manpower Ministry (MOM) will prioritise the needs of firms that provide essential services such as healthcare, security, cleaning, waste management, facilities management, logistics and transport.\nThe ministry said the government has worked with the private and public sectors to make available a range of short-term housing options including hotels, dormitories, rooms and whole properties in both Housing and Development Board (HDB) flats and the private residential property market.\nNeed a place to call home in Singapore during the movement control order? Ohmyhome has thousands of housing units available for rent. Our entire team of property agents, customer service and experienced relocation professionals stand ready to assist.\nCall +65 6886 9009 or send WhatsApp to +65 9755 1009 to learn more now.\nSource: \nMalay Mail"}
{"url": "https://ohmyhome.com/en-my/blog/property-news-what-are-malaysian-real-estate-market-trends-amid-covid-19/", "title": "Property News: What Are Malaysian the Real Estate Market Trends Amid COVID-19?", "body": "Written by\n: Syasya Nur\nThe Malaysian property sector is anticipated to \nundergo minimal changes for the rest of the year.\n To curb economic uncertainty, several policies have been put in place to stimulate the market.\nMalaysian Property Sector Expected to Show Marginal Improvement\nPenjana incentives improve property sales\nNew property sales are set to improve marginally in June to December 2020, according to MIDF Research. This is due to the incentives in the \nShort-Term Economic Recovery Plan (Penjana)\n.\nIn particular, buyers are motivated by the benefits of the \nHome Ownership Campaign (HOC)\n under Penjana, including stamp duty exemptions on transfer of property and loan agreements as well as exemption from the real property gains tax. \nDelays in Buying Property Post-COVID-19\nInvestors delay buying decision\nPotential buyers are \nexpected to delay their decision to purchase a property in the short-term\n despite the increase in interest to do so post-COVID-19.\nThose who are keen to buy a home at the moment are mainly influenced by factors like the current low interest rates, discounts, and stamp duty exemption courtesy of the Home Ownership Campaign (HOC). These benefits will last until May 31, 2021.\nHowever, the other camp of investors are deterred from acting on their buying decision due to the market uncertainty as a result of COVID-19. A large percentage of investors are opting a wait-and-see approach to see how conditions would fare in the near future. \nWhat buyers look for in a home during the new normal\nAs a result of the new normal of remote work and distance education, agents have noted that Malaysians are placing more weight on factors that were once less of a concern. Features like good air ventilation, presence of natural lighting, multi-functional spaces, and low project density are now prioritised in buying decisions. \nOn top of that, the developer\u2019s reputation and high-speed internet connection are also emphasised. Given the increased time spent indoors, home buyers are looking to invest in houses with features that create conducive and pleasant environments for working and living at home.\nIf you have further questions regarding property transactions during COVID-19, check out our \nFAQ page\n for more answers.\nNeed a professional to assist you with your property transaction? Talk to our reliable \nin-house agents now."}
{"url": "https://ohmyhome.com/en-my/blog/property-news-what-has-covid-19-done-local-property-market-my/", "title": "Property News: What Has COVID-19 Done to the Local Property Market?", "body": "There is no doubt that the COVID-19 outbreak has an \nimpact on the local property market\n. \nWhat are the effects?\nProperty developers and home buyers, including investors, breathed a sigh of relief in January after Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) to 2.75% \u2013 the lowest since 2011. It is a rate a borrower bank has to pay to a leading bank for the funds borrowed. The OPR has an effect on employment, economic growth and inflation. \nOhmyhome\u2019s Property Agent, Vince Lai added: With the OPR at its lowest percentage, I believe the government is trying to encourage consumption/spending so that the economy can remain healthy. This is also a good opportunity to get a mortgage, for those who have been wanting to buy a house.\nReal estate experts and analysts foresee \u201crough times\u201d ahead for developers. With Bursa Malaysia\u2019s filings where many developers have posted lower earnings \u2013 launches are not as aggressive as before, numbers and values of properties launched have reduced year-on-year since 2017 \u2013 it\u2019s most likely many developers will not meet their sales targets this year.\nWhat are developers positive about?\nDevelopers are putting their bet on another round of Home Ownership Campaign (HOC) in 2020. HOC 2019 cleared 31,415 residential units developed by federal and state governments, and private builders, valued at a total of RM23.2 billion as at November 2019, surpassing the initial target of RM17 billion. With sales achieved in December, final sales could reach RM30 billion.\nIf you are looking for excellent investment prospects, visit \nOhmyhome\u2019s extensive property listings\n to see if anything strikes your fancy, both from the sub-sale market and newly developed projects! Contact our friendly customer service team at +6016-299 1366 today!\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-my/blog/renting-out-101-tips-managing-tenants/", "title": "Renting Out 101: Tips for Managing Tenants", "body": "Knowing how to manage your rental property is crucial, but it is only half the equation for any property investor who relies heavily on rental income.\nIt is a common misbelief that rental income is a form of passive investment. What differentiates a professional property investor from a rookie is the amount of work put into managing their relations with their tenants. By doing so, landlords maximise their rental income and boost the return on investments.\nHere, we will share the crucial do\u2019s and don\u2019ts of how to become a responsible landlord and to increase your income significantly.\nDO draft a tenancy agreement\nMake no mistake. Sometimes it is hard to justify drafting a tenancy agreement, especially when the rent receivable is so little that it is not worth the hassle to go through all the legal fees and stamp duty.\nHowever, for the majority of property investors who are raking in four figures of rent from your investment property, it might be a wise move to draft a tenancy agreement.\nWhy? Because in Malaysia, there is no central law that governs the relationship between landlords and tenants.\nThe tenancy agreement, which falls under the Contracts Act 1950, is the only legally binding document that governs the relationship between both parties. It is also the only document that offers rights and protection, which is essential in building trust with your tenants.\nUnder Malaysian law, a verbal tenancy agreement is still contractually binding and can be brought to court when needed. However, you would have to undergo a much more rigorous and complicated process to prove your case, which is definitely not worth the risk. \nHence, it is advisable to have your tenancy agreement prepared, examined and stamped by a professional. It usually costs less than half a month\u2019s rent to do so.\nDO interview your tenants\nYou would be amazed to find out how many landlords in Malaysia are freely renting out their property without even meeting them face to face beforehand.\nCertain landlords have several explicit criteria that they have on hand, such as age, gender, race, work status or studying status. However, it is also important to identify good tenants based on implicit criteria such as cleanliness, financial means, and communication skills. \nYou can get to know your potential tenants better by meeting them face to face, as opposed to sending emails or online chat messages.. Remember, establishing a landlord and tenant relationship is a long-term commitment, and it is hard to do so over the internet.\nThis is a crucial step because identifying a responsible tenant will make your life as a property investor so much easier.\nThere are plenty of great case studies of tenants renting from the same landlord for two decades, and the landlord would only need to bump their rent only once every few years just to keep up with inflation.\nFinding a reliable and responsible tenant is a rare occurrence, and it is best to identify them as soon as possible through actual interviews. In case meeting in person is not possible, try to schedule a video call so that you can see their faces and pick up on non-verbal cues.\nDO NOT enter the property without the renter\u2019s permission\nThere are actually plenty of landlords that show up at their rental apartment unannounced, especially to clean and maintain the property.\nDo you know that tenants can legally sue their landlords for trespassing into the property that they themselves own, even if the tenant has defaulted on their rent for an extended period of time?\nUnder Section 7(2) of the Specific Relief Act 1950, it is unlawful for property owners to evict their tenants or recover possession of the house or room without a court order. But more importantly, under section 232(1)(a) of the National Land Code 1965, it is a landlord\u2019s responsibility to allow his or her tenant to enjoy \u201cquiet enjoyment\u201d of the property. \nUnder the legal definition, \u201cquiet enjoyment\u201d refers to a tenant being able to live in the rented property without interference from the landlord, or his/her agent or servant. Meaning, landlords cannot enter the property without permission, nor do they have the right to demand their tenants open the door to them without reason.\nThe simple solution? Request permission and obtain explicit consent to enter the property, even if it is something as trivial as hiring a contractor to fix a lightbulb or the washing machine. \nThis highlights why you should establish a good rapport with your tenants, especially if you plan on renting out the property in the long run. It is also important to screen your tenants properly to avoid tenants that will take advantage of this ruling to make your life as a landlord a nightmare.\nDO NOT racially discriminate amongst your tenants\nIt is wholly within your right as a property owner to pick and choose whoever you want to rent out your property. It is your property, after all. But a quick search on any rental listing portal will show that most landlords have some sort of racial bias against tenants.\nNot only is it hard to morally justify doing so, but it has negative implications on your wallet as well. By only selectively choosing your tenants based on race, you are eliminating a huge portion of the tenant pool within the market, where there might be a lot of gems of a tenant. \nIn a slow market where it is difficult to secure tenants, it is better to open up your options and get tenants early, rather than missing out on a few months worth of rental payments or opt to lower your rent.\nA common reasoning used by landlords to justify racially-biased tenant screening, is that some races are somehow much more responsible than others in taking care of the property and paying rent on time. But do note that people of all ages and races are capable of being trustworthy and responsible in their monthly payments, regardless of their ethnicity.\nHence why, it is important to interview your potential tenants face to face to identify those qualities for yourself, rather than shutting the doors to people of a different skin colour or culture.\nThere are several ways to help support you on your screening journey. You could request your potential tenants to provide a copy of their credit score report to determine if they are diligent in paying off their debts and utility bills. You could also request your tenants for a guarantor or a reference person that could vouch for them.\nBy screening your tenants based on trust and their fiscal responsibility, you will open your doors to a larger pool of higher quality tenants while also building a reputation as a fair-minded property owner within the community.\nFinally,\nDO have a proper discussion with your tenants\nMany of the issues that arise from being a landlord can honestly be easily solved or avoided by having transparent communication with your tenants. \nIf your tenants have failed to pay up the rent, you can try and understand their predicament. It could be that they have just lost a family member or their jobs. They might have suffered an illness or an accident. Then, you can try to help them in your capacity as a landlord, such as deferring the payments or providing subsidies for a short period. \nThe alternative is evicting your tenants and finding new ones, which will take a lot of time, effort, and a huge chunk of opportunity cost as well.\nIt is also important for your tenants to understand your predicament as a landlord. After all, you might have mortgage payments to pay, or your own job security is also at risk. How your tenants respond to your own predicament also reflects the values your tenants have towards their landlords, which you might want to take into consideration moving forward.\nIn any case, start by having a conversation with your tenants for a better solution, before falling back onto your rights and protection under the tenancy agreement.\nIt may be challenging to balance the relationship between a landlord and a tenant. On one hand, maintaining a purely professional relationship will significantly downplay the social aspects of property investment, which may incur more troubles than benefits in the long run.\nBut if you are too lenient as a landlord, you become vulnerable to being exploited by the tenants. As a property investor, you must also take into account your returns on investments as well.\nIn the end, each landlord/tenant relationship is entirely unique. But hopefully, these tips will offer a different perspective and provide a unique outlook on property investments that you might have never considered before.\nAre you learning how to become a responsible landlord before buying a property?\nWell, you came to the right place! Ohmyhome is the best platform for both experienced and new property investors alike! We provide comprehensive \nreal estate services\n, guiding your investment journey from A-Z.\nOur list of services include:\nAgent services for landlords, tenants, buyers and sellers\nMortgage advisory\n\u2026and a whole lot more!\nCall +60 16-299 1366 to get in touch with our friendly customer services."}
{"url": "https://ohmyhome.com/en-my/blog/ridge-kl-east-cosy-home-perched-klang-gates-quartz-formation/", "title": "The Ridge: A Cosy Home Perched on the Klang Gates Quartz Formation", "body": "Written By:\n Henny Maherah \nThe Ridge is located in East Kuala Lumpur, nestled in the foothills of the Klang Gates Quartz Ridge \u2013 the longest geological formation of its kind in the world. Developed by Sime Darby, the property is surrounded by a natural rainforest, giving you the ultimate treetop experience. \nSpacious Layouts With Unblocked Views\nThe Ridge offers Type A1, Type B2 and Type C2 Units. With three spacious layout options, The Ridge has a home catered towards a variety of budgets and family sizes. \nType A1 is a 651 sqft one-bedroom unit, perfect for young couples seeking to set up their first nest. With a spacious open-concept layout, it is the perfect and cosy abode young couples would love.\nType B2 and Type C2 Units are sized at 865 sqft and 850 sqft respectively. Both types provide two bedrooms, a great fit for young families to house their little ones. \nThe most prominent feature available in all three options is the extra wide, 9-foot-tall window in every unit. Feel immersed in the tranquility of nature right from the comfort of your sofa.\nHigh-Rise Community Living\nBringing gardens and parks into the ease of your home, the Sky Garden at The Ridge provides residents a chic space for social gatherings. With a 360-degree view of verdant hills, the Sky Garden is the perfect place to relax with family and guests. \nOther luxury amenities include a 50m lap pool, a wading and family pool for the kids, a jogging track, and a bbq pavilion and lounge area. \nSeamless Connectivity for an Urban Lifestyle\nEven when The Ridge is tucked deep into nature, city life is still within easy reach. Melawati Mall, a one-stop destination, is only a 7-minute drive away. Other nearby facilities include the Darul Ehsan Golf Course and Kuala Lumpur Football Academy (KLFA) to satisfy your recreational needs.\nLocated near International School Kuala Lumpur (ISKL), Universiti Tun Abdul Razak (UTAR), and the Malaysia Institute of Art (MIA), you can be assured that quality education for the children is just a stone\u2019s throw away.\nOffering you a peaceful sanctuary topped with well-designed amenities, expansivelayouts, and unrivaled connectivity, The Ridge truly is the perfect home for you. \nReady to make The Ridge in KL East your home? Call our \nin-house agents\nto kick-start your journey in finding the perfect home. \nContact us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/should-i-diy-or-get-property-agent/", "title": "Should I DIY or Get a Property Agent?", "body": "When buying, selling or renting a residential property, the decision to either hire a property agent or DIY (do-it-yourself) is often the first hurdle of many big life decisions you\u2019ll have to make when crossing the threshold of home ownership.\nSo, how exactly do you go about making this decision? \n1. DIY\nThe real estate scene has evolved from what it once was due to the internet\u2019s advancements, where it has now changed the way homes are bought, sold and leased out. Consumers such as yourself are able to use the internet as a tool to search for available listings that can be filtered to your specifications on various home property websites like \nOhmyhome\n. You\u2019re also now able to directly list and market your property on those platforms and communicate personally with potential buyers and tenants beforehand to clarify any questions before a physical viewing. So, deciding to DIY your property journey won\u2019t be too hard, even if it\u2019s your first time. \nHowever, by deciding to DIY you now have several more responsibilities on top of the usual property fix ups that are expected of sellers and landlords, such as getting the plumbing to work right, servicing the air conditioners and giving the property a paint job. Now that you\u2019re also your own realtor, you\u2019ll have to take photos of your property\u2019s exterior and interior and upload them to the property website. You then have to fill in the details of the property, such as the number of bedrooms, bathrooms, and the size of the lot, among other things. Schedule viewings will also fall onto you, as well as conducting said viewings to potential buyers and tenants. This could be an overwhelming endeavour for those with busy lifestyles. \n2. Property Agent\nHiring a \nprofessional property agent\n will be an extra expense, but doing so will surely save your sanity and allow you to enjoy the experience instead. Though buying, selling, and leasing out your property can be done by yourself and still have efficient and effective results, an agent is well-versed in property transactions to help the process go smoothly. \nAll those responsibilities of an agent no longer fall on you, now you are able to concentrate on what needs to get done to get the property sold and focus the rest of your energy on life. Sit back and don\u2019t stress as you wait for your property agent to call you with good news. \nAsk Yourself This\nYou\u2019ve got to ask yourself at this point in the decision-making process if you truly understand the task and responsibilities that you will be taking on if you decide to DIY. Perhaps you\u2019d be better off relinquishing some form of control to your property agent so that you won\u2019t get worked up over having to reply to potential buyers and tenants on time or organise the viewing schedule. \nYou need to be honest with yourself and ask if you do have enough time in a day to allocate to these responsibilities. Will you be able to handle the responsibilities and tasks to execute them fast and efficiently? Are you going to be able to be hands-on and answer questions from potential buyers and tenants about your property? \nIf those questions are starting to make you feel as though you were applying for a job, that\u2019s because becoming your own realtor is a job. If you answered no to any of those questions you should seriously consider hiring a property agent. If you answered yes, then consider joining our community of savvy DIY users.\nWhat Are Your Property Needs?\nBuying and selling a property will require different amounts of energy and time due to the variance in requirements and tasks. The same can be said for leasing out a property and renting one. This is why one answer to the question of DIY or hire a realtor won\u2019t work for everyone. \nYou might be able to make time to lease out your property as there are few things to do in comparison to selling it. By understanding your property needs you\u2019ll be able to answer those questions asked earlier on and come to a decision. \nWhatever you decide, be it DIY or engaging an agent or both, you can be confident that you\u2019ve thought the whole decision through and that you can always count on Ohmyhome to meet your property needs.\nWith Ohmyhome\u2019s \ntrusted agent services\n, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole.\nCall +60 16-299 1366 now!"}
{"url": "https://ohmyhome.com/en-my/blog/should-you-pause-your-property-investment-plan-during-covid-19-pandemic/", "title": "Should You Pause Your Property Investment Plan During the COVID-19 Pandemic?", "body": "Written by:\n Henny Maherah\nThe Malaysian economy is expected to shrink to 2.5% from 4.2% during the recovery period. Should property plans still be made during these uncertain and turbulent times?\nWhat is the impact of COVID-19 on the Malaysian property market?\n1. Less interest from foreign buyers\nTravel restrictions have curbed foreign investments from entering the Malaysian economy. Foreign buyers are thus unwilling to invest in the local housing market. Still, there remains a small group of foreign buyers who are willing to invest in Malaysian property.\nThese buyers flock from countries, such as the United States, that have experienced greater shocks to the property market as a result of COVID-19. They are keen to invest in countries with better management of the COVID-19 outbreak, such as Malaysia. However, this group of buyers are only the minority.\nThe unveiling of Perikatan Nasional has also increased the uncertainty in the economic climate of Malaysia. Foreign buyers may be deterred from investing in property due to the recent political turnover and divert their investments to more politically stable countries instead.\n2. More challenges in securing homes\nBuyers are postponing their property purchase as they are more concerned with more pressing needs like employment and daily necessities. Particularly for the lower income group, securing a home has become more difficult due to lost income and the absence of savings.\nLocal buyers are now adopting a wait-and-see attitude until the impact of COVID-19 has subsided. While this appears to be the safest approach, others say that now is an optimal opportunity for Malaysians to secure a home.\n3. Delayed property launches\nMany property developers are delaying their new launches due to service disruptions and supply cuts. With the national slowdown, auction market listings and bargain opportunities have spiked dramatically, with properties selling for as little as 50% less than their original reserve prices.\nProperty developers are also more willing to lower their prices to entice buyers. Their focus has shifted to clearing off overhang units at reduced prices.\nWhat are the government initiatives to increase home ownership?\n1. COVID-19 recovery measures\nThe six-month moratorium deferment package was also introduced by Bank Negara to provide leeway for loan borrowers during the COVID-19 pandemic. For homeowners, this means that mortgage loans would be deferred from April to September 2020, helping them avoid defaulting on loans.\nOwners of short-term rental properties can also utilise the loan deferment till September.\n2. Existing housing policies to improve housing affordability\nOne of the aims of Budget 2020 is to promote access to housing. The \nRM10 billion Rent-To-Own (RTO) Financing Scheme\n was introduced in 2018 as part of the National Housing Policy (NHP) 2.0. Running in its second year, the RTO scheme targets the bottom 40% income group (B40). This scheme allows Malaysians within the low-income bracket to rent their homes for five years and apply for a home mortgage in the sixth year.\nAccording to the Housing and Local Government Minister, Zuraida Kamarrudin, when low-income earners consistently pay rent, they are able to build up their credit score. This payment record could further enhance their credibility when they apply for a mortgage in the sixth year. Through this scheme, the B40 targeted group are able to increase their access to homeownership.\n3. Closer partnerships between property developers and the government\nThe Affordable Housing Policy was introduced for property developers to focus housing development towards the lower and middle income group in Malaysia. Property prices are fixed between\nRM90,000 to RM300,000 depending on area and location.\n Property developers are bound to a minimum size requirement of no less than 900 sq ft. Necessary infrastructure and amenities must also be included. These guidelines ensure that all Malaysians have access to safe and quality homes.\nGiven the active improvement in government initiatives coupled with greater housing bargains in the current market, Malaysians should definitely capitalise on the current soft property market to secure their own home. With property prices slashed up to 50% off its original prices, it\u2019s a golden opportunity to land their dream home.\nSource: \nNST\nInterested in buying your dream home? Talk to our in-house agents \nin-house agents\n to find out more.\nCall us at +60 16-299 1366 today!\nWhile the information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the information. The information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user."}
{"url": "https://ohmyhome.com/en-my/blog/southville-city-bangi-sustainable-mixed-development-near-kl/", "title": "Southville City in Bangi: A Sustainable Mixed Development Near KL", "body": "Written By:\n Henny Maherah\nSouthville City is located in Bangi, Selangor, along the North-South Highway. Like many properties in that area, Southville is the perfect home for city-lovers who thrive in the thrill of urban life. However, Southville City is not your typical modern city apartment. Here\u2019s three reasons why Southville City is unlike any other home in Malaysia.\n3 Reasons to Invest in Southville City\n1. Self-Sustainable Township\nDesigned as a mixed-use development, Southville City blends residential and commercial spaces in one convenient location. Whatever you need, you can find it here. Lifestyle malls are filled with retail therapy, recreation, and fine dining options as well as boutique office spaces. Southville City is the one-stop home destination for the modern family.\n2. Housing for All Residents\nSouthville City is divided into separate precincts, each with its own distinct architectural design and space. More precincts are in the pipeline for future developments. \nPrecinct\nUnit Type\nSize\nSavanna Executive Suites\nServiced Apartment\n956 sqft to 1,017 sqft\nCerrado Residential Suites\n4 Serviced Apartment Towers\n656 sqft to 828 sqft\nAvens Residence\n2\u00ac\u03a9- & 3-storey link homes\n2,988 sqft to 3,438 sqft\nSensory Residence\nServiced Apartment\nFrom 888 sqft\nEach precinct is fully equipped with a high-tech home security system, including perimeter fencing, CCTV surveillance, and vehicle access control so that you can go about your day with peace of mind. Luxury amenities such as a clubhouse and an Olympic-sized pool await residents in each precinct.\n3. Close-Knit Communal Lifestyle\nCommunal amenities connect individual precincts and provide residents with access to the wider Southville City community. At the heart of Southville City is a 10-acre summit park that comprises a herb garden, yoga deck, as well as multiple bicycle and walking paths. At Southville City, all your recreational desires will be easily fulfilled.\nWith seamless accessibility to retail and dining experiences, luxury amenities, and communal spaces, Southville City truly is the home for every family.\nCaptivated by Southville City\u2019s unique features? Talk to our \nin-house agents\n and make Southville City your home!\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/step-step-guide-buying-residential-property-malaysia/", "title": "Step-by-Step Guide to Buying Residential Property In Malaysia", "body": "Editor\u2019s Note: This post was originally published in April 2020 and has been completely revamped and updated for accuracy and comprehensiveness.\u00a0\nThings are starting to look up for the property market and for home buyers. The new government announced its commitment and focus on economic recovery with initiatives such as expanding the financing guarantee fund SJKP (Skim Jaminan Kredit Perumahan) from RM3 billion to RM5 billion to help first-time home buyers to secure a loan, especially those with no fixed income. So there\u2019s really no better time than now to start planning for the purchase of your next home. Here is a comprehensive step-by-step guide to walk you through every step of the process of buying a home in Malaysia!\nStep 1: Identify your investment timeline\u00a0\nFirst-time home buyers are usually purchasing for their own stay even if they have plans to invest.\nThere are important factors to consider when deciding why you want to get a home. And it is important to make the distinction between your own stay and for the purpose of investing as the two might not align.\u00a0\nYou might get a home that\u2019s really near to a commercial area to attract young professionals to rent a room with you, but you might lose out on privacy with your family.\nYou would consider the following factors while making a decision to invest in a home:\nLocation\nRental yield\nPotential for price appreciation\nFreehold or leasehold\nBut when it comes to your own stay \u2013 you might think a lot about things like privacy, the location of the home to your workplace or your children\u2019s school, the interior design of the home and the neighborhood.\nSo it\u2019s vitally important to clearly understand what are the aspects you are willing to look past and what are some non-negotiables for your own stay before buying a home.\nStep 2: Know your budget\u00a0\nThe next most important step here that most people overlook until it\u2019s too late is to evaluate your loan eligibility.\nToo often, first-time home buyers make a decision about their home budget until it comes time to make the payment, and they realize that they couldn\u2019t qualify for a loan of that amount.\nThat\u2019s why it\u2019s vitally important to know your loan eligibility when creating your budget.\nA) Check your Central Credit Reference Information System (CCRIS) report\nObtain your CCRIS report from Bank Negara Malaysia to assess your credit score and history.\nB) Evaluate your debt-to-income ratio\u00a0\nCalculate by dividing your monthly debt commitments by your monthly income. Ensure your ratio is below 60-70% to increase your chances of loan approval.\nC) Determine your loan eligibility based on income and property value\nEstimate the maximum loan amount you can obtain by considering the loan-to-value (LTV) ratio, which ranges from 70% to 90% in Malaysia. Take note of Malaysia\u2019s tiered LTV policy for multiple property loans, which may affect your eligibility.\nStep 3: Review property listings online\nNow it\u2019s time for the fun part, house-hunting!\u00a0\nThere are two fast and simple ways you can go about it.\u00a0\n1. The Do-It-Yourself (DIY) approach\u00a0\nThe first is by going the do-it-yourself (DIY) approach by visiting a property listing website like Ohmyhome.\u00a0\nHere, you can easily browse through numerous home listings tailored to your preferences. The convenience of online house hunting allows you to virtually view properties through photos and videos while gathering essential information on location, rooms, fixtures, and furnishings. By narrowing down your options online, you can save time and effort by physically viewing only the properties that truly meet your criteria.\n2. Engaging a Super Agent from Ohmyhome\nAlternatively, you can choose to engage a Super Agent who will be carefully selected based on your specific property needs. With the help of a professional, you can navigate the entire process smoothly, as your agent will assist with all necessary paperwork and keep you well-informed at every stage.\u00a0\nWhile you are browsing listings online, try to develop a clear picture of your ideal home so that you can effectively communicate your preferences to your agent. Remember that seeking professional guidance for such a significant life decision can be immensely beneficial.\nOnce you\u2019ve shortlisted a few potential homes, it\u2019s essential to either conduct a walk-through of each property or, if you\u2019re unable to visit in person, request a video tour from an Ohmyhome agent. This way, you can make a confident, clear-minded decision about your future home\nStep 4: Prepare the deposit and other expenses\nOnce you find your dream property, get ready to make an offer. Ensure that you have the deposit prepared so that you can present it to the seller as soon as they accept your offer. Legally, you\u2019re only required to pay a 3% earnest deposit while awaiting your loan approval from the bank.\nAnd there\u2019s also great news for potential first-time home buyers: the government has recently announced a 75% exemption on stamp duty for homes priced between RM500,000 to RM1 million until December 31, 2023. This exemption allows you to save a significant amount of money. Additionally, the memorandum of transfer for houses priced at RM500,000 and below is 100% exempt from stamp duty until the end of 2025, providing even more savings for buyers.\nThe no-money-down misconception\nThere\u2019s also a common misconception that No-Money-Down Schemes require no cash throughout the transaction but this is not true.\u00a0\nYou should keep in mind during this whole process that there are extra costs. These include:\nHiring a realtor and a lawyer\nPaying the stamp duty, which is a tax on legal documents such as the instrument of transfer and loan agreement when you purchase a property\nYou\u2019ll still need cash to cover the booking fee, which is typically around 3% of the purchase price and serves as collateral. The balance deposit is due upon signing the Sales and Purchase Agreement, although some property owners may be willing to wait for disbursement. Additionally, you\u2019ll need to pay your lawyer for the legal fee and stamp duty. After completing the purchase, you may receive a refund of the deposit paid from your EPF or 100% loan, but the lawyer\u2019s fee and stamp duty will not be reimbursed.\nStep 5: Hire a lawyer\nOnce your offer goes through, it\u2019s time to get a lawyer. You might think it\u2019s unnecessary and that you can handle the paperwork by yourself. While that\u2019s possible, the documentation might be overwhelming. The documents that must be signed and filed include:\nLetter of offer/intent to purchase\nSales and Purchase agreement SPA\nMemorandum of transfer\nBy having help from someone who understands the jargon, you will prevent yourself from signing false papers or making costly mistakes. It is often too late when people realize their SPA\u2019s crucial importance until something goes wrong.\u00a0\nThis is also why \nhiring the right property agent\n is essential. You\u2019ll be able to tap into their vast experience and network of contacts to ensure you\u2019re doing things the right way. They know every trick in the book and can connect you with the right representatives.\nNote: It\u2019s not a good idea to share a lawyer with the seller, as they will have the seller\u2019s best interest at heart!\nAfter your offer is accepted, you can save time here by applying for a bank loan while the lawyer goes through the paperwork.\u00a0\nThe basic term loan is the choice of many because of its simplicity. The borrower is only asked to pay a fixed installment amount throughout the loan term. For more flexible loan options, the semi-flexi and full-flexi loans are great options. If you prefer an interest-free transaction, consider the Islamic loan.\nStep 6: Collect the keys\nWith everything running smoothly, your deposit paid and the loan approved,\u00a0 you can look forward to the date specified in the Sales and Purchase Agreement (SPA).\u00a0\nThis important milestone brings you one step closer to owning your new home Soon, you\u2019ll be handed the keys to your new home. How exciting!\nLooking for your next dream home? Find the perfect one with Ohmyhome\nWith an Ohmyhome Super Agent on your side, you can rest easy knowing that a seasoned professional is working tirelessly to ensure the best outcome for you.\u00a0 \nTaking the stress out of buying a home by guiding you through the entire process, from house hunting to closing the deal. They\u2019ll handle the complex paperwork and legal aspects, ensuring that everything goes smoothly and that you\u2019re well-informed every step of the way.\nReady to connect with one of our Super Agents? Simply drop us a message on \nWhatsApp\n or via our Live Chat at the bottom right-hand corner of the screen to secure an appointment today. You can also call us at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/step-step-guide-leasing-out-your-residential-property-malaysia/", "title": "Step-by-Step Guide to Renting Out Your Residential Property in Malaysia", "body": "Are you looking to earn passive income by renting out your property? Not sure how to go about the whole process? Don\u2019t worry; once you know and follow the steps, you\u2019ll be a savvy landlord in no time. \nHow to Rent Out Your Property\nStep 1: Decide if you will go DIY or get a realtor\nIt doesn\u2019t matter whether you\u2019re looking to sell, buy, or rent a property, you will usually always have to decide between DIY-ing (do-it-yourself) or getting a realtor. It is an age-old question asked by customers in the property market, and there isn\u2019t a single answer to this question that would work for everyone. \nThe best way to decide is to understand your situation and your needs, especially if you need help due to time restrictions and lack of knowledge. If you\u2019re thinking of renting out your place the DIY way, you have two clear options. \nThe first involves you making a banner with your contact information and your property details (e.g., the number of rooms and bathrooms), and then placing it on the exterior of the property. \nThe second option is to take quality exterior and interior photos of the property and put it up online for potential tenants and post it on property transaction websites, such as Ohmyhome. You can also opt to do both in order to attract more tenants.\nA realtor will make things a lot easier for you because they will handle the majority of the process while keeping you informed. This is especially true with our trusted agent service. Photos will be taken for you and marketed online, with consistent refreshing making sure that the property stays on the first page of the site until it\u2019s rented out. \nStep 2: Set your rental pricing\nWithout a realtor to advise you on the price range for your property type in the area, you\u2019ll have to conduct research yourself. This can be done by driving around and calling the phone numbers on the for rent signs and banners. You can also visit online property listing sites, and filter them to see similar details to your property. If you\u2019re still not sure, call a few real estate agencies and inquire about the rental prices for your property type in the area.\nTake into account the negative and positive attributes of your property, as this can affect the price. A negative attribute would be having a sewage drain located right behind the property, while a positive attribute would be that it is only a five-minute walk to the LRT station. \nThe research you conduct, along with the list of negative and positive attributes, will help you to determine your price. \nStep 3: Give your property a makeover\nYou need to make a good first impression on potential renters, so consider fixing up your place. The truth is, we\u2019re often used to the quirks of our home \u2013 water stains on the bathroom floor, paint peeling in the living room, the doors that don\u2019t lock all the way \u2013 but these are the things that may turn potential tenants away. \nExpect to spend up to a few thousand on repairs and improvements. The exact amount would depend on the upkeep of your house and if you want to do any major refurbishments and renovations to the property. The general rule is to give the whole place a new paint job and a deep clean. Also, make sure you fix door knobs and grease the door and gate hinges. Make your home look as clean and new as you can. \nStep 4: Identify your ideal tenant\nIf your property is a four-bedroom house near schools and office buildings it\u2019s safe to assume that your potential tenants will be a family. If it\u2019s a one-bedroom studio apartment, then you might expect either a bachelor or a young couple. \nWhy is it important to know what kind of tenant will prefer your property? It will help you decide whether you would want to rent the property out as either semi or fully furnished, or with no furnishings. \nStep 5: Schedule a viewing\nIf you\u2019ve hired an agent, then they will show potential tenants around the property. However, if you\u2019ve decided to do it yourself, then you should take a few precautions. Make sure to have someone with you during viewings and to secure valuables if you haven\u2019t moved out yet.\nKeep in mind that you have to show them that this property can easily be their home. Set the stage, come early, and make sure to tidy up and if you\u2019re still living there. Try to take down family photos and declutter. After all, you\u2019re trying to get them to envision themselves living there. \nPotential tenants will surely ask questions during the viewing regarding any renovations, or the number of tenants you had previously. This is so that they have an idea as to the condition of the house. Make sure to answer them honestly. \nDuring this time, you\u2019ll also want to clarify certain details that would be written into the tenancy agreement, such as who pays if there\u2019s a leak in the roof. You\u2019ll also want to clarify how long the potential tenant wants to stay. Will it be a two- or a three-year-long lease or shorter. \nIf you cannot offer physical home viewings, you can still offer a \nvirtual property tours\n. Ohmyhome\u2019s platform allows you to show off your home easily.\nStep 6: Get the deposit and sign the tenancy agreement\nLastly, secure the tenant with a deposit and a tenancy agreement. You\u2019ll have to collect a deposit (worth about two or three months\u2019 rent) while the agreement is being written out and amended if needed. Then, the only thing left to do is sign the agreement.\nThere you go, you now have a tenant in six easy steps! We\u2019re sure you\u2019re eager now to start the process and to start earning a side income. Just remember to respect the tenancy agreement and your tenant\u2019s privacy.\nWant to learn more about our trusted \nagent services\n? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/step-step-guide-renting-residential-property-malaysia/", "title": "Step-by-Step Guide to Renting a Residential Property in Malaysia", "body": "You\u2019ve decided to rent a new place to call home for the next couple of years. Maybe buying a house isn\u2019t financially possible for you yet, and that\u2019s okay, as financial planning will help you get there. But for now, leasing a home is a great option. \nThe process is simple and fast, and no loan approval needed. However, that doesn\u2019t mean you might know how to go about the whole situation. Ohmyhome has got you covered with this simple and easy to follow step-by-step guide. \nHow to Rent Residential Property\nStep 1: Research the location\nBy looking up different residential property listings in the areas you\u2019re interested in, you\u2019ll have a rough idea of the price range for houses and apartments.. You\u2019ll be able to compare your budget to these listing prices. This will help determine what type of home will best fit your needs. Also, consider features such as number rooms and baths, etc. \nYou can gather this information several ways. The first is simply through your computer or phone screen. Visit Ohmyhome, which features a simple approach to helping you find a home through a database of ready-for-rent properties. Another way to scout out homes for rent in an area you\u2019re interested in is by driving around the neighborhood to look out for signs and banners with the words \u201cFor Rent\u201d on them. Or, you can employ a realtor for a fast and easy solution once you\u2019ve narrowed down the area and your property must-haves. \nStep 2: Go on a viewing\nKeep these in mind when you visit properties in your rental shortlist.\n1. Be on time for the viewing\nArrange a date and time for a viewing. Make sure you\u2019re on time, as it will demonstrate to your future landlord that you are a responsible tenant. This will help you stand out from other potential renters.\n2. Ask questions and express concerns\nYou should clarify any and all concerns you have during the viewing of the property regarding the responsibilities that will fall on you as a tenant, and on them as a landlord. Ask about the previous tenants, was it a family? A young couple maybe or a bachelor? This will give you a better picture of the condition of the house you might rent. \nIn case you can\u2019t go to the viewing in person, ask about the \nvirtual property tours\n on Ohmyhome.\nStep 3: Pay the deposit and sign the papers\n1. Make the deposit\nOnce you\u2019ve made it clear to the landlord that you\u2019re interested in renting their property, it\u2019s time to take things a step further by making a deposit. You\u2019ll be expected to put a deposit of a total of two to three months of rental payment. A deposit will secure your place as a tenant, as the tenancy agreement is drawn up.\n2. Sign the tenancy agreement\nThe tenancy agreement is a legally binding contract between the landlord and yourself. It explains your different and shared responsibilities, including the monthly rental amount, method of payment, and property maintenance. It is important that you have a signed copy of it, as you\u2019ll often refer to it during the leasing period. Once signed, you can start packing up and moving in on the agreed-upon date stated in the agreement. \nRenting property need not be complicated. It\u2019s an easy three-step process that allows you access to housing at different price points for different types of properties. \nWith Ohmyhome\u2019s mobile app, you\u2019ll have your choice of properties for rent, all according to your needs and preferences, just download Ohmyhome from \nPlay Store\n or \nApp Store\n now!"}
{"url": "https://ohmyhome.com/en-my/blog/step-step-guide-selling-your-residential-property-malaysia/", "title": "Step-by-Step Guide to Selling Your Residential Property in Malaysia", "body": "Editor\u2019s Note: This post was originally published in April 2020 and has been completely revamped and updated for accuracy and comprehensiveness.\u00a0\nAre you ready to sell your home and move on to your next chapter? The recent changes in stamp duty exemptions by the Malaysian government make it an excellent time to sell now.\nThere is a 75% exemption for homes priced between RM500,000 to RM1 million until December 31, 2023, which means potential buyers can save a significant amount of money. \nFor example, a 75% exemption on an RM750,000 property purchase will save a buyer up to RM15,000. This will pique the interest of middle-to-upper income first-time home buyers as well as those who are looking to upgrade their property. \nOn top of that, the memorandum of transfer for houses priced RM500,000 and below is 100% exempt from stamp duty until the end of 2025, offering even more savings for buyers.\nWith your buyer pool pretty much guaranteed, you can start the process of selling your property with no stress. Here\u2019s a step-by-step guide for you to sell your home:\nStep 1: Decide if you will engage an agent or go DIY\nAs a seller, you can choose to either do everything yourself using property websites or with the help of a professional agent.\u00a0\nWhile selling your home on your own means you can save from paying the usual 2-3% agent\u2019s commission fee, but it also means taking on all of the responsibility of a property agent:\nMarketing the listing,\nNegotiating the price with buyers,\nFinding qualified buyers to negotiate the price with, \nAnd all of the legal paperwork in between for you to cash out, transfer ownership, and move into your new home.\nWhile you can do it yourself to save money, there are many advantages to engaging a property agent, such as: They\u2019ll be able to dedicate a lot more time to the process, which can be quite complex, including plenty of financial and legal paperwork that has to be done correctly.\u00a0\nFurthermore, agents have a wealth of information about the property market and are experts at working with buyers. They can persuade buyers to make an offer and negotiate the price to ensure that you get the most money possible for your property. Furthermore, they can leverage their network of past and current clients and collaborate with other agents to expedite the sale of your home.\nStep 2: Research the asking price\nThis next step is important, especially to those of you that are confident in your decision to not hire a realtor.\u00a0\nBefore putting your home up for sale on a property platform like \nOhmyhome\n, you should first get an accurate valuation of your home.\u00a0It\u2019s important that you have an estimate of the current market price for your home so that you won\u2019t ask for too much money and scare off potential buyers, or ask for too little and not make a profit.\nWith a little bit of research, you can get a better idea on how to price your home: \n1. Ask your agent to generate a home valuation\nOne way to get a home valuation, which is typically based on a number of factors like property type, location, average prices and more, is by getting a professional appraiser to conduct an inspection of your home. This ensures you\u2019re not overpricing and scaring away potential buyers, or greatly losing out on profits by underpricing. \nThe great thing about our Ohmyhome Super Agents is that they are able to generate a home valuation for you, and you won\u2019t even have to ask them for it. This is part of their process in serving home sellers like yourself. \nWith Ohmyhome, you will be getting a comparative market analysis on top of your home valuation. That means you will be able to see past transaction data of houses in your area (i.e. how much they have been sold for), and a market survey including the asking prices of property listings similar to yours and whether the property is furnished or renovated.\n2. Look up online listings in your area\nIf you\u2019d rather DIY, you need to conduct a market research on your own. You can visit property portals such as Ohmyhome, where you can filter your search by property type, such as bungalows, semi-detached homes, or terrace link houses, to find similar property listings and how much they are selling for. are currently being sold for. \n3\n. Try contacting realtor agencies\nCall up a few local realtor agencies and ask about the price of properties similar to yours in your neighbourhood. They may be willing to share some insights and give you a better understanding of the local real estate market, though probably not without getting you to sign an exclusive agreement with them first. So may the odds be ever in your favour on this one, because it\u2019s really a toss-up.\n4. Drive around your area and look for other for-sale properties\nThe third method is an oldie but a goodie. Take a drive around your neighbourhood and look for \u201cFor Sale\u201d signs and banners. Call the phone numbers on the signs and ask about the asking price and other relevant details. This method can also give you a better understanding of the current supply of houses on sale in the area.\n5. Consider the renovations you\u2019ve done for your home\nIf you have made any unique renovations or improvements to your property, be sure to take them into account when determining the asking price. These can add value to your home and set it apart from others in the area.\nStep 3: Spruce up your property\nAs a homeowner, you may have become accustomed to certain areas of your home and may overlook areas that need improvement. Try to look at your home with fresh eyes, as a potential buyer would.\u00a0\nFraming your home in the best possible light is crucial when it comes to selling your property. One effective way to do this is by choosing colours, furniture, and decor that complement each other and create an overall aesthetic that appeals to potential buyers.\nIn addition to framing, there are several general rules to follow when preparing a house for sale. Giving both the exterior and interior a fresh coat of paint, and performing a deep cleaning are great places to start. It\u2019s also important to take care of any plumbing issues, leaking roofs, broken fixtures, and other repairs. Neglecting these issues can make it harder to land a buyer and could even decrease the perceived value of your home.\nBy taking the time to properly prepare your home for sale, you can increase its perceived value and attract more potential buyers.\u00a0\nStep 4: Conduct a home viewing or a video tour\nOnce again, if you have hired a property agent, they would handle this step by taking potential buyers around the property and answering questions that they might have. Realtors would discuss at length with the buyers regarding an offer to purchase agreement and relay it all back to you once an offer is put in.\nIf you are conducting the viewing, make sure to take precautions by having someone you know and trust there with you. If you\u2019re still living in the house during the viewing, tidy the place up and take down personal things such as photos. Make it feel as homey as possible, but remove any clutter. After all, you\u2019re trying to sell them a house so that they can turn it into their home.\nIf you cannot conduct physical home viewings, ask about doing a video property tour and put it up with your listing. At Ohmyhome, our property agents. You can upload the video on the Ohmyhome platform.\nStep 5: Hire a lawyer\nSeveral legal documents have to be written up and signed for the house to be sold and passed on from you to the new owners. The lawyer is there to write up all the legal documents required to have the house sold, such as the sale and purchase agreement (SPA) and the memorandum of transfer.\nThe Sales and Purchase Agreement (SPA) is one of the most important documents of the entire process. It is often too late when people realise their SPA\u2019s crucial importance until something goes wrong.\u00a0\nThis is also why \nhiring the right property agent\n is essential. You\u2019ll be able to tap into their vast experience and network of contacts to ensure you\u2019re doing things the right way. They know every trick in the book and can connect you with the right representatives.\nStep 6: Getting paid and deducting expenses\nAfter accepting an offer, your buyer should give a deposit worth 10% of the selling price. All you have to do is wait for the buyer\u2019s bank to release the money to your lawyer and then to you. The bank often releases the money in two stages: the first is often to cover your mortgage loan on the property with your loan bank, then the second is to you through your lawyer.\nOnce you\u2019ve received the payment in full and you\u2019ve handed over the keys, it\u2019s time to pay your dues to the government. As of 2019, there were amendments made on the Real Property Gains Tax (RPGT) rates, which were announced during Budget 2019. If this is the first home that you\u2019re selling, you will be given a one-time exemption from RPGT.\nIf you follow these steps, you can cover the essentials and complete the property transaction hassle-free.\nLet us help you sell your home at the best price\nHaving an experienced Super Agent from Ohmyhome by your side gives you invaluable peace of mind as you know you have someone who is looking out for your best interests. You will be matched with an experienced agent specialising in your area \u2013 which means they will have extensive knowledge of the real estate market and the neighbourhood where your home is located. \nThey can help you understand market trends and conditions, identify potential buyers, and negotiate the best possible price for your home, while also handling the paperwork and legalities involved in selling a home, making the process less overwhelming and more streamlined.\nSecure an appointment with any of our Super Agents today\n by dropping us a message on \nWhatsApp\n or via our Live Chat at the bottom, right-hand corner of the screen. You can also \ngive us a call\n on our hotline at \n016-299 1366\n. "}
{"url": "https://ohmyhome.com/en-my/blog/stonor-3-klcc-opulence-heart-kuala-lumpur/", "title": "Stonor 3 KLCC: Opulence in the Heart of Kuala Lumpur", "body": "Written By:\n Henny Maherah\nStonor 3 KLCC, the newest property launch by Tan & Tan exudes luxury living right at the heart of the Kuala Lumpur City Centre. This freehold serviced residence is perfect for those seeking an urban lifestyle.\nCentral Location in Kuala Lumpur\nWith a natural city skyline backdrop, this high-rise condominium keeps you close to the constant excitement of city life. A 10-minute walk brings you to the emblematic core of Kuala Lumpur, the KLCC Park and Petronas Twin Tower. With future developments within the area, including multiple MRT stations slated for completion in the coming years, Stonor 3 KLCC will be a worthwhile investment.\nMove-In Ready Finishings\nLike all Tan & Tan property developments, Stonor 3 has the latest homeware technology and luxury finishings. The doors in each unit is fully equipped with robust Japanese locksets that provide the best security while adding a touch of elegance to your home.\nInterior materials are chosen for their durability and strength to ensure you get the best quality finishings. Golden-brown teak flooring runs through the entire house, making sure your feet stay cosy and warm. With these added features you would be guaranteed a worry-free move-in transition.\nAmenities for Resort-Style Living\nStonor 3 KLCC boasts of recreational facilities for the entire family. Enjoy stunning views of the Kuala Lumpur skyline while you swim in the 40m infinity-edge pool on the 7th floor. Suspended over the glistening water of the pool is a 200 sqm floating gym.\nPatio garden spaces, function rooms, BBQ facilities, and a children\u2019s pool make great venues for social gatherings.\nThe 40th floor welcomes you to a rooftop garden that gives you a bird\u2019s eye view of the exciting city. With yoga spaces and private reading nooks, tranquility and peace await you.\nWith its prime location, luxury finishings, and exclusive amenities, Stonor 3 KLCC is your perfect hideaway right at the centre of Kuala Lumpur. \nInterested to call Stoner 3 KLCC your home? Talk to our \nin-house agents\n to find out more!\nCall us at +60 16-299 1366 today!"}
{"url": "https://ohmyhome.com/en-my/blog/temporary-pause-malaysia-my-second-home-mm2h-programme/", "title": "Temporary Pause in Malaysia My Second Home (MM2H) Programme", "body": "Written By:\n Henny Maherah \nThe \n Malaysia My Second Home (MM2H) Programme \n will freeze till December this year. \nForeigners Affected by Halt of MM2H Programme\nImmigration laws continue to tighten in view of COVID-19. A staggering 90% of new MM2H applications have been rejected. This amounts to over 1,000 rejected applications, a sharp increase over the usual 10% rejection rate last year. \nOne of the factors that might have contributed to the sudden MM2H programme halt is the ongoing disagreement between the Tourism and Immigration Ministry in Malaysia. While health concerns may arise from letting foreigners enter the state, the MM2H initiative has also been an integral pillar of the local economy. This has left officials ambivalent in the decision making process, as both the health and economy of Malaysia took a hit as a result of the coronavirus.\nMM2H Programme Remains Crucial to the Malaysia Economy\nSince the introduction of the MM2H programme in 2002, \n RM40.6 billion has been pumped into the Malaysian economy\n, mostly through property purchases and compulsory fixed deposits in local banks. \nDespite such uncertainties, foreigners looking to relocate to Malaysia need not worry in the long run as it is highly probable that the suspension of the MM2H programme is only temporary. Tourism, Arts, and Culture Minister Nancy Shukri reports that while the programme is currently under review, it is unlikely for it to be entirely cancelled given the significant economic benefits to the country.\nProperty plans in Malaysia affected by the MM2H Programme cease? Talk to our trusted \n in-house agents \n for professional advice about how we can help you achieve your property goals.\nCall us at +60 16-299 1366!"}
{"url": "https://ohmyhome.com/en-my/blog/the-alcove-the-perfect-sanctuary-for-you/", "title": "The Alcove: The Perfect Sanctuary for You", "body": "Written By:\n Henny Maherah\nLocated in Subang Jaya\u2019s most exclusive neighbourhood, The Alcove features resort-style living right from the comfort of your home. Offering a collection of 72 private residences spread over just two 6-storey blocks, rest assured you and your family will have much-needed privacy. With options of 3 to 4-bedroom units ranging from 1,259 sq ft to 2,174 sq ft, every family will be spoiled for choice at The Alcove.\nLow-rise units for high-quality living\nThe Alcove specialises in luxurious low-rise condominiums with each unit designed with open spaces to provide you the freedom in creating your own personalised home. Units comes with either a two or three-vehicle carpark, perfect for large families. Located within the The Glades, Subang Jaya\u2019s most coveted residential enclave, the close-knit community would offer you the most inviting welcome to The Alcove.\nLuxury amenities a stone throw away\nWith exclusive access to The Glades\u2019 resort-style clubhouse, leisure time will never be the same again. Providing you with an Olympic-sized pool, jacuzzi, and sauna, The Alcove hands you unlimited relaxation and peace just moments away from your home. A fully-equipped gym and tennis court are also available for stress-relieving workouts. \nFor nature lovers out there, the yoga deck at The Glades gives you a panoramic view of beautiful lakes and lush greenery. With its own parks, shaded pathways, and jogging paths within the compound, you can enjoy a plethora of recreational activities at The Alcove.\nWorry-free sustainable living\nDevelopments within The Glades are mostly equipped with sustainable features for an environmentally-conscious lifestyle. The Alcove is no exception in providing modern and sustainable living. All units are equipped with an automated waste management system, rainwater harvesting system, liquefied petroleum gas system, and centralised water filtration system to make every day tasks easy and less damaging to the environment. \nTo ensure you can always go to sleep with utmost tranquility, The Alcove compound is housed within an electrified perimeter fenced with only one secure entry and exit. With 24-hour security personnel along with CCTV surveillance, the safety and security of residents will not be compromised. You can be sure to never miss a wink of sleep. \nStrategic location within the heart of Subang Jaya\nLooking for a quality shopping experience? The Alcove is in close proximity to city centres such as One City and The Main Place that offers you a one-stop destination for all things retail therapy and leisure. \nWorld-renowned schools are also situated near The Alcove. Schools such as the Kingsley International School, Monash University and Sunway University are all readily in close proximity to provide the best education experience for your child. \nKey transport infrastructure is also located near The Alcove. With the nearby Putra Heights Interchange and USJ Interchange, exciting locations like the Subang Skypark or Shah Alam are only a 15-minute drive away! For a simpler commute, the Putra Heights and Subang Alam LRT stations are also nearby. \nWith luxury amenities, convenient location and unrestricted spacious layouts, The Alcove would be the perfect home for families seeking a peaceful haven. \nInterested to make this serene haven your own? Get in touch with our \nin-house agents\n to find out more!\nCall us at +60 16-299 1366 now!"}
{"url": "https://ohmyhome.com/en-my/blog/the-truth-about-below-market-value-bmv-properties-in-malaysia/", "title": "The Truth About Below Market Value (BMV) Properties in Malaysia", "body": "BMV (below-market-value) properties can seem like an opportunity that\u2019s too good to pass on. A property with a price point that\u2019s significantly below its market price? Sign me up!\u00a0\nBut it turns out there\u2019s a deeper truth behind this very tempting proposition.\u00a0\nWe\u2019ve compiled a list of the most common ways these BMV deals often go wrong \u2013 and how you can find better BMV deals that are actually profitable.\n1. Hidden repair needs that cost a bomb\nOne of the attractive factors of buying a BMV property is the potential to save money on a home purchase.\u00a0\nSellers and agents know this all too well. It\u2019s why you see the term BMV liberally thrown about in so many listings. In fact, for many of them \u2013 it\u2019s a sales trick used to pull in innocent, unassuming buyers looking for a good deal.\u00a0\nBMV properties may have a lot of issues and damages that will cost you in the long run.\nThey may be hiding a laundry list of expensive repair needs and require renovations that come with a huge price tag \u2013 such as structural problems, water damage, or issues with the foundation.\nThis is why having the right agent in your corner is key.\nWhen you engage one of \nour Super Agents at Ohmyhome\n, you\u2019re also getting someone experienced, honest, and who\u2019s seen all of these tricks by sellers and other agents. With their trusted expertise, you can safely be guided through the buying process according to your specific needs.\u00a0\nThey\u2019ll warn you against listings that aren\u2019t actually a good deal, consult you on how to make a decision, and negotiate, liaise, and deal with the sellers on your behalf. You can find Ohmyhome\u2019s customer reviews about our property agents on Facebook and Google, on which they have an average 4.9-star rating.\n2. Difficult to resell\nAnother important point to consider is the valuation of the property. What if the valuation is not an accurate one?\nOn one hand, you have unethical sellers who are obviously trying to overinflate the property\u2019s valuation.\u00a0\nBut on the other hand, there are many ways even a perfectly legal home purchase may not make a profit in the future.\nUnrealistic expectations by the owner\nThe owners themselves may have unrealistic expectations as they have a simplistic view of their own property.\u00a0\nIgnoring important market trends\nOver the previous years, we\u2019ve seen numerous major trends heavily affect home prices. From supply chain issues due to the pandemic, economic factors affecting interest rates \u2013 and leading to a drop in the volume of transactions, and even the political situation over the last years as well.\u00a0\u00a0\nGetting an accurate valuation is one of the most important aspects of the home-buying process. \nUnrealistic assumptions about a property\u2019s future growth\u00a0\nCertain infrastructure and government projects in the upcoming years can really move the needle for a property\u2019s future value. But newer agents and optimistic sellers tend to make projections that are a little overblown and not matched to reality.\u00a0\nGetting an accurate valuation is one of the most important aspects of the home-buying process. With a few simple steps, you can easily access a more wallet-friendly (because it\u2019s free) option with an Ohmyhome market report. It will include a comparative market analysis: the past transaction prices of properties in your town and in its surrounding area. This will enable you and your property agent to determine the best selling price for your home which is also according to the current market trend, so you\u2019ll neither price it too high nor too low, but just right.\n3. Potential legal complications\nDo you value your sleep at night? Then, you want to be cautious of certain sellers that are potentially hiding behind serious bankruptcy, credit, or insurance issues.\nThey may also be operating with malicious intent. Here are a few common loopholes these sellers will attempt to deploy against unsuspecting buyers.\u00a0\na) Unethical sellers \nOne such way a seller might try to pull one past you is through unscrupulous changes in the Sale and Purchase Agreement (\u201cSPA\u201d).\u00a0\nThere are very strict regulations in place to protect homebuyers, but that still doesn\u2019t prevent unethical sellers from trying to slip one past you.\u00a0\nSometimes, you may find yourself signing onto a SPA with terms that are not the same as what both of you initially agreed on. Even if the law is on your side, you\u2019d still have to spend precious time, energy, and finances trying just to sort this out.\u00a0\nb) Unpaid fees & taxes\u00a0\nProperty owners are required to maintain upkeep on multiple fees, rates, and taxes such as quit rent, parcel rent, and assessment rates \u201ccukai pintu\u201d.\u00a0\nOwners that are behind on their required payments can be a legal nightmare to deal with.\u00a0\nc) A front for scams & frauds\u00a0\nOne of the most common schemes is the \u2018booking fee\u2019 fraud, where the fake agent claims to be the owner, and says this is the first sale. After bringing you for a viewing, they subsequently ask for a booking fee, after which you will not hear from them ever again.\u00a0The act of collecting booking fees is also illegal, and those found guilty could be liable to a fine of up to RM50,000 or a jail term of up to five years or both.\nOwners that are behind on their required payments can be a legal nightmare to deal with.\u00a0\nd) Properties in distress\u00a0\nThere are many popular videos on social media claiming properties that are \u2018under distress\u2019 are a perfect buy as they can provide you with a significant profit.\u00a0\nProperties that are facing foreclosure or where the owner is facing bankruptcy are also situations that can cause your experience to be a truly unpleasant one.\u00a0\nKeeping an eye out for these common potential legal pitfalls can save you a world of trouble and headache, which is exactly how your first home-buying experience should be in the first place \u2013 seamless and convenient.\nFind Your Dream Home In No Time, Hassle-Free\nAt \nOhmyhome\n, your convenience is our priority. Our highly experienced agents are trained to match you with the right home and property, take you through the process with an expert hand and be there to advise you when it matters the most.\u00a0\nYou can sit back, relax and let our experienced agents expertly hold your hand through the entire process. They\u2019ll keep you far, far away from unscrupulous agents and unethical sellers while showing you only the most relevant and perfect homes for you.\u00a0\nOur Super Agents have served more than 8,000 happy customers, with over 70 families housed almost every single month.\nYou can contact us via our Live Chat, Whatsapp, or fill up this form to book a free consultation with our knowledgeable and experienced in-house agents who have a track record of transacting more than 70 homes every year."}
{"url": "https://ohmyhome.com/en-my/blog/what-does-loan-deferment-mean-malaysian-property-buyers/", "title": "What Does the Loan Deferment Mean for Malaysian Property Buyers?", "body": "The COVID-19 pandemic is not just a health crisis, but an economical one as well. \nWith small and medium business owners potentially shutting down due to the movement control order (MCO), many citizens and property investors are concerned about their livelihoods.\nOnn 27 March 2020, the Malaysian Prime Minister announced a whopping RM250 billion stimulus package comprising of loan deferments, one-off cash assistance, credit facilities and rebates, and direct fiscal injections worth RM25 billion.\nWhile the bulk of the package seems to be targeted towards the B40 group \u2013 citizens in the bottom 40% household income range \u2013 existing property investors can take advantage of some of the policy changes. A key highlight is the automatic six-month loan deferment.\nWhat is the loan payment deferment?\nThis loan repayment deferment, or loan moratorium policy, exempts citizens from paying back their loans for the six months starting 1 April 2020. This includes any conventional loans or Islamic financing repayment obligations, with the exemption of credit card loans.\nBank Negara Malaysia (BNM), or the Malaysian Central Bank, has issued a straightforward FAQ on this particular subject. BNM clarifies that borrowers need not apply for the loan moratorium from their banks, as the process is automatic.\nHowever, make no mistake thinking that you have been awarded six monthly instalments worth of free cash, because the remaining balance on your loans will continue to accumulate during the deferment period along with its interest rate charges. This could result in a higher monthly instalment amount or an extension to the loan tenure.\nWhile the central bank has issued such guidelines, it is up to the local banks to properly enforce them. By default, the interest on your mortgage loan will be compounded because property owners are technically defaulting on their loans for six months.\nWhich banks offer this loan moratorium?\nFortunately, several banks have publicly announced that they will not be compounding the interest during the six-month moratorium period for their respective customers.\nThe banks in question include:\nRHB Bank \nPublic Bank\nMaybank \nCIMB Bank \nOCBC Bank \nHSBC Bank \nAmBank \nAffin Bank \nUOB Bank\nCitibank Malaysia \nWhile all of these banks will not compound their interest, each bank has their own separate terms and conditions for this newfound policy. Note that terms may also differ if you opt for an Islamic loan as opposed to a conventional mortgage loan. \nIf you have taken out of the mortgage loans from the banks listed above or from any other bank, it is highly recommended that you visit their Frequently Asked Questions page to learn more about their mortgage loan moratorium policy and determine if it is a good fit for you.\nShould you opt for the loan deferment?\nAs a disclaimer, Ohmyhome does not hold a financial planner license and we are not legally fit to provide financial advice to our readers. We can, however, share some of the facts and offer recommendations or insights.\nIt is important to note that people have different needs at this point in time. Some people who have job security and a hefty emergency fund may choose to opt out of the loan repayment moratorium in order to save on the interest accrued.\nHowever, not every property investor and owner has the capacity to do so. For those who will struggle financially in the following months due to the pandemic, consider applying for the loan repayment moratorium. It will provide the much needed cash flow to keep your head above the water amid these trying times.\nHow much will you save?\nA local property expert has actually done the math and determined that the total amount of interest incurred is negligible in the grand scheme of things. \nAssuming a property owner has obtained a RM500,000 loan at the start of the loan moratorium period, at a standard interest rate, the total amount of damage incurred is RM20,714 in exchange for RM11,355 worth of immediately freed up capital.\nPrinciple Amount\nTotal Interest Paid\nTotal Amount Paid\nMonthly Instalments\nWithout deferment\nRM 500,000\nRM 412,032\nRM 912,032\nRM 2,533\nWith deferment\nRM 511,355\nRM 421,391\nRM 932,746\nRM 2,591\nDifference\nRM 20,714\nRM 58\nHe argues that property owners should use the freed-up capital for other much more urgent purposes, such as paying off credit card debt, serve as an emergency fund, or to invest in other asset classes to diversify their investment portfolio.\nFrom a general perspective, the pros do outweigh the cost, especially when your local bank offers a non-compounding interest policy on loans during the moratorium period.\nEach of us is responsible for our own finances, no matter the financial advice which has been put forth. It is best to do your own research and calculation to determine if a loan deferment is right for you.\nReady to start your housing journey? At Ohmyhome, we have a team of trusted real estate professionals that is able to guide you on your property purchasing or property liquidation journey. Like any journey, it starts with taking the crucial first step, which involves getting in touch with our professional and adept real estate agents.\nCheck out Ohmyhome\u2019s \ntrusted agent services\n today, or call +6016-299 1366!"}
{"url": "https://ohmyhome.com/en-my/blog/what-no-one-tells-you-about-buying-your-first-home/", "title": "What No One Tells You About Buying Your First Home", "body": "If you ask almost any Malaysian who owned a house, they will probably never forget the first time they bought a home.\u00a0\nAs the common assumption is that you need a 10% downpayment to buy a home, most Malaysians only save up for that number, leaving them unprepared for a seemingly endless list of costs, one after the other.\nTo smoothen this transition, we compiled some of the biggest costs of buying a home in Malaysia that no one tells you about for every stage of your property transaction journey.\nBefore Buying\nA. Booking Fee\nB. Valuation Fees\nC. Mortgage Insurance\nD. Agent Fees\nWhile Buying\nA. SPA Legal Fees\nB. Loan Agreement Fees\nC. Stamp Duty for MOT or DOA\u00a0\nAfter Buying\nA. Maintenance, Utility, and Sinking Fund\u00a0\nB. Quit Rent, Parcel Rent, and Assessment Rates\u00a0\nC. Assessment Tax\n1. Before Buying a Home\u00a0\nA. Booking Fee (Also known as an earnest deposit)\nThis non-refundable deposit serves to demonstrate the buyer\u2019s commitment to the purchase and is generally equal to 3% of the total property value. The remaining amount of the downpayment is to be paid in full on the day of signing the Sale and Purchase Agreement (SPA).\nSo for a RM 700,000 house, a booking fee estimate would cost as follows:\u00a0\nRM 700,000 x 3% = \nRM 21,000\n.\nThe earnest deposit is usually submitted alongside a Letter of Offer or Offer to Purchase. It is important to note that these agreements typically state that the deposit will not be refunded if the deal fails to complete.\nThis fee will be included as a portion of the down payment should you choose to move forward with the home.\u00a0\nB. Valuation Fees\u00a0\nIf you are getting a loan, financial institutions typically require a property valuation before approving a loan amount, and the fee is usually borne by the buyer. An official valuation may also be required if the buyer and seller disagree on the price.\u00a0\nThe exact fee for the valuation is calculated as a percentage of the finalized home price.\u00a0\nHere is an estimated breakdown based on the value of your home:\u00a0\nFirst RM 100,000 = 0.25% of the property\u2019s value\nThe next RM 2 million = 0.20% of the property\u2019s value\nThe next RM 7 million = 0.167% of the property\u2019s value\nThe next RM 15 million = 0.125% of the property\u2019s value\u00a0\nC. Mortgage Insurance (MRTA or MLTA)\nWhen buying a house with a loan, banks will often imply the requirement to purchase insurance to ensure they are protected. But insurance schemes are also vital and beneficial for buyers.\nThe two main kinds of insurance you would encounter are MRTA and MLTA. Be prepared that the cost can range from RM 10,000 to RM 30,000 or more, either made as a lump sum payment in the beginning or stretched out as monthly payments.\u00a0\nThe exact cost varies on which insurance you purchase, along with factors like your home loan value, interest rates, and loan term.\nMortgage Reducing Term Assurance (\nMRTA)\nThis is a type of home loan insurance that takes care of your mortgage payments in the event of your death or, in some cases, a terminal illness or disability.\nAs you pay off your home loan, the value of your outstanding debt will fall. MRTA is designed so that the amount that would pay out at the point of a claim covers the total value of your outstanding home loan.\nMortgage Level Term Assurance (MLTA)\nMeanwhile, the MLTA is a type of home loan insurance where the sum insured remains level throughout the term of the plan. It does not reduce, unlike an MRTA.\nMLTA provides a defined benefit amount during the entire period of the policy. Unlike MRTA, any additional amount is paid to the beneficiary.\nD. Agent Fees\u00a0\nIt is still surprisingly common for Malaysians not to factor agent fees into the overall cost, which can significantly impact you financially if you are on a tight budget.\u00a0\nWith Ohmyhome\u2019s Super Agents, you will be charged with a 3% commission, inclusive of SST, with a guarantee of aggressive marketing. From guiding you through every step of the process (and fees you\u2019d need to pay) to leveraging their years of experience to get the best possible price for your dream home, they\u2019ll expertly navigate you through the turbulent seas of homeownership.\u00a0\n2. Transaction Fees While Buying a Home\u00a0\nNow it\u2019s time to walk through the buying process, in this stage, you will be shouldering a few types of fees \u2013 legal fees, disbursements, and stamp duty.\nLegal fees \nare made to the necessary legal firms and representatives throughout the buying process.\n\u00a0\nDisbursements\n are payments made to compensate the expenses incurred by the lawyers involved in preparing your agreements.\u00a0\nStamp duty\n is the official tax you pay to the government on legal documents such as the instrument of transfer (MOT or DOA) and loan agreement.\nA. SPA Legal Fees\nThe Sales and Purchase Agreement (SPA) is one of the most important documents of the entire process.\u00a0\nThe SPA is a legally binding contract intended to protect the buyer\u2019s interest (that\u2019s you). And as you can imagine \u2013 without appropriate legal representation, there are many ways the SPA can go wrong.\nIt is often too late when people realize their SPA\u2019s crucial importance until something goes wrong.\u00a0\nHaving a legal firm allows you to have an expert manage the extensive paperwork and negotiate on your behalf while protecting your interests every step of the way. Legal representatives are trained to manage complex legal documents, negotiate on your behalf, and protect your interests throughout the acquisition process.\nThis is also why \nhiring the right property agent\n is essential. You\u2019ll be able to tap into their vast experience and network of contacts to ensure you\u2019re doing things the right way. They know every trick in the book and can connect you with the right representatives.\nHere\u2019s a breakdown of how SPA legal fees are charged:\nValue of Property\nSPA Legal Fee Percentage\nFirst RM 500,000\n1%\nNext RM 500,000\n0.8%\nNext RM 2,000,000\n0.7%\nNext RM 2,000,000\n0.6%\nSubsequent RM 2,500,000\n0.5%\nFor example, if you\u2019re buying a house worth RM 700,000, here\u2019s what your SPA legal fees might look like:\nRM 500,000 x 1% = RM 5,000\nRM 200,000 x 0.8% = RM 1,600\nTotal = RM 6,600\nA basic rule of thumb is the higher the value of your house, the more you\u2019ll have to pay in fees.\u00a0\nB. Loan Agreement Fees\nThe loan agreement is a document that contains all the details of your loan with the bank. These costs usually cover the processing and signing of your loan agreement.\u00a0\nValue of Property\nLoan Agreement Percentage\nFirst RM 500,000\n1%\nNext RM 500,000\n0.8%\nNext RM 2,000,000\n0.7%\nNext RM 2,000,000\n0.6%\nSubsequent RM 2,500,000\n0.5%\nThe stamp duty for the loan is then calculated as 0.5% of the total loan amount. The bank processing fee is usually within the few hundred range, so there\u2019s not too much to worry about there.\nThe fees for a 90% loan on a house costing RM 700,000 might look something like this:\nLoan Agreement Legal Fees:\nTotal Loan Amount = RM 630,000\nFirst RM 500,000 x 1% = RM 5,000\nNext RM 130,000 x 0.8% = RM 1,040\u00a0\nStamp Duty:\nRM 630,000 x 0.5% = RM 3,150 (0.5% of the loan amount)\nTotal Loan Agreement Fees = RM 6,040 + RM 3,150 = RM 9,190\nC. Stamp Duty for Memorandum of Transfer (MOT) or Deed of Assignment (DOA)\u00a0\nOne other essential document in this process is the Memorandum of Transfer (MOT). This is a document to transfer ownership from the seller to the buyer. In cases where the property to be bought had not received its relevant Land Title, a Deed of Assignment (DOA) form is used to transfer ownership of the property.\nHere\u2019s how a stamp duty fee is calculated:\nValue of Property\nStamp Duty Percentage\nFirst RM 100,000\n1%\nRM 100,001 to RM 500,000\n2%\nRM 500,001 to RM 1,000,000\n3%\nRM 1,000,001 and above\n4%\nSo for your RM 700,000 house, here\u2019s an estimated fee:\nFirst \nRM 100,000 x 1% = RM 1,000\nRM 500,000 x 2% = RM 10,000\nBal RM 100,000 x 3% = RM 3,000\nTotal stamp duty = RM 14,000\nThe total amount you\u2019ll need at the start\nHere\u2019s a table of how much you\u2019d have to save up for your RM 700,000 home in transaction fees:\nDownpayment\nRM 70,000\nValuation Fee\nRM 1,750\nSPA Fees\nRM 6,600\nLoan Agreemen Fees with Stamp Duty\nRM 9,190\nStamp Duty Fees on SPA\nRM 14,000\nTotal Payable\nRM 101,540\nSo the actual amount you need at the start is not only 10% \u2014 it is actually closer to \n14.5%\n.\n3. After Buying a Home\u00a0\nA. Maintenance, Utility, and Sinking Fund\u00a0\nIf you\u2019re buying a subsale high-rise property, expect to pay a maintenance fee. This fee is instrumental to ensuring the property is well-maintained and managed. This includes maintaining common areas such as lifts, lobbies, corridors, gardening, security, and recreational facilities.\u00a0\nThe sinking fund is the building\u2019s way of hedging against future large-scale repairs or major works on a building. By contributing to the sinking fund, buyers can ensure that their property is protected in the event of an unexpected major repair, which can be costly and disruptive.\nB. Quit Rent, Parcel Rent, and Assessment Rates\u00a0\nIn addition to considering home-related costs such as home deposits, housing loans, home insurance, property owners are required to pay quit rent, parcel rent, and assessment rates under the Malaysian legal system.\u00a0\nQuit Rent or Parcel Rent\u00a0\nQuit Rent is calculated by multiplying the size of an owned property in sq ft or sq meters by a specified rental rate. As many Land Offices don\u2019t list the quit rent rates on their official websites. Hence, it\u2019s advisable to visit the nearest Land Office or contact them.\u00a0\nIn June 2018, a new land tax was created for strata properties in Selangor to replace the quit rent, called parcel rent. This new parcel rent is now a separate charge billed directly to owners.\nWhile this significantly increased the amount of taxes charged to Malaysian strata property owners, the change was made to ease the transfer of ownership of strata properties to make up for defaulters.\u00a0\nC. Assessment Tax\nThis is a tax collected by the Municipal Council of the location of your property to cover the cost of financing the development and maintenance of local infrastructure and services.\u00a0\nPayments are to be made to your local Municipal Councils, for example, these would be councils like DBKL, MBPJ, MPKJ, MPSJ, MPSP, MPAJ in the Selangor area.\u00a0\nSecure Your First Home With An Experienced Super Agent\nBuying a home can be one of the biggest investments you make in your life. Having an experienced Super Agent from Ohmyhome gives you invaluable peace of mind as you know you have someone who is looking out for your best interests. You will only be matched with an experienced agent specializing in your area \u2013 which means they will have extensive knowledge of the real estate market and the neighborhood where you want to buy a home.\nThey can provide you with invaluable insights into the local market conditions, including the trends in home prices, the availability of homes for sale, and the potential for investment in the area.\nIn addition to that, a good agent is able to negotiate a lower purchase price, better terms, or even additional contingencies to ensure you are protected.\nOur Super Agents have served more than 8,000 happy customers, with over 70 families housed almost every single month. Secure an appointment with any of our Super Agents today by dropping us a message on \nWhatsApp\n or via our Live Chat at the bottom, right-hand corner of the screen.\u00a0"}
{"url": "https://ohmyhome.com/en-my/blog/why-having-1-agent-is-better-than-20/", "title": "Why Having 1 Agent Is Better Than 20", "body": "Engaging multiple agents may seem like a good idea to gain wider exposure to potential buyers.\u00a0\nWhile this would have been an acceptable route back then, technological advancements have significantly changed the playing field with online property marketplaces and search portals.\nDoing this today can cost you tremendously \u2013 from lowering the appeal of your listing, receiving lowball offers far lower than your asking price, and causing your home to sit in the market longer than necessary.\u00a0\n1. Sends the wrong message to prospective buyers\nWith multiple agents, you begin to get duplicative listings for your property, each with a different agent\u2019s name attached.\nThis does several things.\na) Confuses prospective buyers\u00a0\nFirstly, this can confuse potential buyers as they\u2019re referring to the same listing sites. And so, when they see multiple listings for the same house, this presents the appearance of desperation or a lack of confidence in the property\u2019s appeal.\nThey may start to get the impression that the unit is difficult to sell and that something is wrong with it.\nb) Get the impression that the listing is fake or a scam\nThey might even assume that this is a scam and that something shady is happening, especially with the prevalence of online scams today. This can harm your chances of attracting high-quality buyers and securing favourable offers.\nThe longer your house sits on the market, the harder it is to sell. After spending longer than 60-90 days in the market, a property is often considered \u201cstale.\u201d\nWhen you engage multiple agents to sell your home, you should be prepared to be bombarded by calls and texts at all times.\n2. A logistical nightmare\u00a0\nAnother downside to engaging multiple agents is the flood of communication that can create more hassle and frustration than you\u2019re ready for.\nBe prepared for a bombardment of phone calls, text messages, and e-mails from multiple agents seeking details about your home. It\u2019s also uncommon for sellers to forget the exact agents they are engaging \u2013 making the process even more complicated.\nThese agents will naturally need more details about your home to sell your home. From the exact square footage, floor plans, if there have been any unique features or upgrades, updated photographs, maintenance and repair records, list of included items, and more.\nThis can all lead to a more time-consuming process that is more exhaustive than productive.\u00a0\nCoordinating viewings and keeping track of multiple agents\u2019 progress can be challenging, resulting in a more chaotic and stressful selling experience. In contrast, working with a single dedicated agent streamlines the process and makes it easier to stay informed and involved in selling your property.\nHaving just one property agent streamlines the process and eliminates the need for multiple conversations and repeat information sharing. By working with only one agent, you can simplify the home-selling process and avoid the frustration of dealing with multiple agents.\n3. Agents aren\u2019t motivated to sell your house\nUnder an exclusive agreement, the agent is the sole agent authorised to sell your property for you during a specified period of time, usually 3 months.\nAnd the issue that arises when you contract an agent without an exclusive agreement, is that they will not be as invested in putting in the necessary time and effort to market your property effectively.\nThe reason is simple: the agents cannot be certain that their efforts will result in a commission. They know that if you end up transacting with another agent, their time and money invested will be for nothing.\u00a0\nThis lack of motivation can also be seen in the quality of the listings created for your property. Agents may create lower-quality listings with subpar photography and poorly written descriptions, which leads to limited exposure for your property on real estate websites.\u00a0\nA single, dedicated real estate agent is fully motivated to invest their time and resources for you, resulting in a significantly faster sale and better offers. However, choosing the right agent can prove to be a more challenging affair than it seems.\u00a0\nOne of the best ways to find the right agent is to see what previous clients have said about them. You can easily find Ohmyhome\u2019s customer reviews about our property agents on Facebook and Google, as all of our agents have an average 4.9-star rating on Google and Facebook. We encourage you to check it for yourself.\u00a0\nOhmyhome Super Agents have access to technology that enables them to sell your home faster.\n4. Agents may use your house as leverage to sell their exclusive listings\nAs a seller, it\u2019s vital to consider the negative implications of engaging multiple agents. One such risk is non-exclusive agents using your property as a bargaining tool for their other exclusive listings. A bait and switch as they say.\nIn addition, agents can intentionally undermine the value of your property to highlight the features of another exclusive property in their portfolio.\u00a0\nThe agent may show a prospective buyer your home as leverage to sell a better house to raise the perceived value of the home they\u2019re trying to sell. During in-person viewings, the agent may emphasise the shortcomings of your property and downplay its strengths to make the other exclusive property seem more appealing by comparison.\u00a0\nOn the other hand, when you engage a property agent exclusively, you have to ensure that your property is in capable hands. With Ohmyhome, our Super Agents have the rest of the market beat.\u00a0They have the support of the whole company, from tech to marketing and even operations, so they can focus on getting your home sold. We also have a free property app that lets sellers such as yourself list properties for free, so your listings have a higher chance of getting viewed by ready buyers who may call for viewing at any time.\u00a0\nWork With An Exclusive Agent \u2013 1 Is All You Need\nWith Ohmyhome, our Super Agents have the rest of the market beat.\u00a0\nAs Ohmyhome agents only work with exclusivity, you\u2019re guaranteed to have an agent that\u2019s motivated and dedicates significant time, effort, and resources to selling your home.\nNo longer will prospective buyers be confused with duplicate listings with poor quality and lowballing you with underpriced offers. Everything is taken care of for you with Ohmyhome as you only have to deal with 1 point of contact.\nWith more than 8,000 happy customers served, our experienced in-house agents have a track record of transacting more than 70 homes every year.\nOur agents are also trained in proven marketing strategies that go beyond listing on our platform as your property will also be marketed across all major listing platforms, including Google and Facebook.\u00a0\nYou can contact us via our Live Chat, \nWhatsapp\n, or fill up this \nform\n to book a free consultation with an expert ASAP.\u00a0"}
{"url": "https://ohmyhome.com/en-my/blog/why-titiwangsa-could-be-your-next-new-property-destination/", "title": "Why Titiwangsa Could Be Your Next New Property Destination", "body": "The Titiwangsa Range, also known as the \u201cBanjaran Besar\u201d in the Malay language, is a chain of mountains that runs from the north of the Thailand border down to the southeast portion of the Malaysian peninsula.\nJust like how the Titiwangsa Range serves as the geographical backbone of Malaysia, so does the constituency of Titiwangsa forms the backbone of the metropolitan city of Kuala Lumpur.\nHere are some of the compelling reasons why this particular constituency should be the focal point of your next property investment journey.\n1. Titiwangsa Lake Gardens\nThere is little doubt that the highlight of the Titiwangsa constituency is its proximity to the Titiwangsa Lake Gardens.\nAt 95 hectares, the Titiwangsa Lake Gardens is one of the few rare green sites within the concrete jungle of Kuala Lumpur City Centre. The gardens provide a unique blend of both natural and cosmopolitan flavour. Plenty of coconut and banyan trees provide shade while the city skyline in the distance serves as a backdrop for landscape and wedding photographers.\nHalf of the area is covered by a lake left over from mining activities during the British colonial period. From its industrial past, the area has been transformed into the go-to place for fitness enthusiasts and familial leisure activities, with facilities such as jogging tracks, cycling tracks, kayaking, horse riding facilities, radio-controlled car-racing, and much more.\n2. The Palace of Culture\nThe Palace of Culture, more commonly known as \u201cIstana Budaya,\u201d sits at a corner of the Titiwangsa Lake Gardens. As the name suggests, it is one of Malaysia\u2019s main venue for all types of cultural and theatre work, including operas and classical concerts.\nWith 1,412 hall seats and box seats, it is one of the most luxurious and grandest theatres available in Malaysia. Located next to it is the National Art Gallery, home to many intricate visual art pieces made by locals..\nWhat may come as a surprise to most people is, while the palace started its construction in 1995 and was completed in 1999, the idea and proposal for the theatre started back in 1964, costing a whopping total RM210 million to construct.\nNow, it is the home to the Residence Artists group, the National Symphony Orchestra, and the Orchestra Traditional Malaysia, some of the pillars of art and culture in the country. Not to mention, the building\u2019s unique design is now prized as an exemplary case study of architectural work for both local and foreign architects-in-training. \n3. Strategic Location\nIt seems that the name \u201cTitiwangsa\u201d has deep connotations in geography, as the constituency is well located in the heart of Kuala Lumpur. Its proximity to the district of Chow Kit gives residents easy access to the famous Chow Kit traditional market, which is tightly packed with stalls selling a variety of produce, clothing, and home goods.\nIf traditional goods do not strike your fancy, there are contemporary malls like Sunway Putra Malls and the Quill City Mall that offer mainstream fashion and chain dining. Unassuming eateries nearby serve local fares like noodles and roasted meats.\nOn the other side of the Titiwangsa lake lies the Malaysian Police Training Centre, or PULAPOL, one of the oldest training institutions for the Royal Malaysia Police force. With so many officers entering and leaving the district, safety won\u2019t be an issue in this neighbourhood.\n4. Healthcare and Education\nTitiwangsa is also well served by the following healthcare providers:\nDamai Service Hospital HQ\nKL Hospital\nKPJ Sentosa KL Specialist Hospital\nKPJ Tawakkal KL Specialist Hospital\nLourdes Medical Centre\nPintu A MRT Hospital KL\nSentul Medical Centre\nNational Heart Institute\nThe district is also well equipped with educational institutions such as Chiao Nan Primary School, Maxwell School, SJK (C) Sentul KL, SMK Sentul Utama, and Wesley Methodist School KL (International). \nHere you can find several institutions of higher learning such as Binary College, Perdana University Clinical Centre, President College, Universiti Kebangsaan Malaysia Fakulti Sains Kesihatan Kampus KL, and Universiti Utara Malaysia Kampus KL.\nThe strategic location of Titiwangsa could not be any less understated. Not only is it a stone\u2019s throw away from the city centre, a diverse set of facilities and amenities available within mere kilometres. However, if you wish to leave the district, Titiwangsa located is right alongside the \u201coriginal\u201d Middle Ring Road of Jalan Tun Razak. Public transport is easy, thanks to the Titiwangsa LRT and Monorail station.\nProperty buyers will be hard-pressed to find a district just as dynamic as Titiwangsa.\nWant to check out the top residential properties on the market? Through Ohmyhome\u2019s \nnew launches page\n, you can access to the most lucrative and exclusive deals on new property launches directly sourced from the property developers themselves, with great discounts and freebies headed your way.\nCheck out \nour genuine listings\n! Or call +6016-299 1366."}
{"url": "https://ohmyhome.com/en-my/blog/your-ultimate-guide-overnight-policy-rate-opr-decrease/", "title": "Your Ultimate Guide to the Overnight Policy Rate (OPR) Decrease", "body": "Written By:\n Henny Maherah\nFor the third time this year, Bank Negara Malaysia (BNM) issued a \nnew Overnight Policy Rate (OPR)\n at 2% on 5 May 2020, a decrease from the previous OPR of 2.5% announced on 3 May 2020. Why did they do this? BNM reports that these measures are intended to cushion the harsh impacts of COVID-19 on the Malaysian economy and \u201ccreate enabling conditions for a sustainable economic recovery.\u201d\nBut what exactly is the OPR and how will it affect your property investment? \nWhat is the Overnight Policy Rate (OPR)?\nOPR is an interest rate policy set by the BNM. In most instances, banks would maximise their outflow by lending as much money to borrowers while maintaining the minimum cash reserves available within the bank. However, in some cases, the cash withdrawal for loans exceeds the amount of cash available in the bank. \nIn such instances, these affected banks would resort to borrowing cash from other banks. This is where the OPR comes into play by determining the interest rate during loan transactions between banks. \nHow will the OPR decrease affect your housing loan?\nOne of the most common forms of bank loans acquired is a housing loan for your property. Many homeowners obtain a loan from the bank that will gradually be repaid within a set duration of time. \nThe repayment amount would include a loan interest rate, also known as a \nBase Rate (BR)\n, which is determined by the OPR. \nWith the recent OPR decrease, how will your repayment terms be affected?\nHere\u2019s an example: \nHousing Loan Amount\n $150,000\nDuration of Loan Tenure\n 30 years \nOPR\n2.5%\nCurrent:2%\nLoan Interest Rate\n \n(OPR + BR) \n2.5% + 0.8% = 3.2%\n2% + 0.8% = 2.8% \nMonthly Loan Repayment\n \n(Loan Amount + Interest)\n$416 + $133 = $549\n$416 + $116= $532\nIn short, the lower the OPR, the lower the interest rate for your loan repayment. Malaysians would have an incentive to take up new loans to supplement their spending. The OPR change would also cause a hike in disposable income due to reduced interest payments. You may have more for essential purchases, especially during this challenging time. \nWhile it may seem tempting to invest in a new loan immediately, it is important to remember that the rationale behind the OPR decrease is the current soft economic outlook. \nFinancial budgeting\n is key. However, the OPR decrease could be a golden opportunity for those who are intending to invest in property and have been putting off their home purchase. If you\u2019re ready to embark on your home buying journey, this may be an optimal time to \napply for a housing loan.\nReady to find your dream home? Get in touch with our \ntrusted in-house agents\n to kickstart your buyer\u2019s journey!\nCall us now at +60 16-299 1366!\nSource: \nNew Straits Times"}
{"url": "https://ohmyhome.com/en-sg/blog/powering-up-our-tech-prioritising-security-for-our-app-users/", "title": "Powering Up Our Tech! Prioritising Security for Our App Users", "body": "In 2016, Ohmyhome launched with an app that helped you buy and sell homes easier and faster.\nIn the years since, we\u2019ve included plenty of features that made the initial promise easier to fulfill.\nAnd as usual, we only keep improving.\u00a0\nIn August this year, Ohmyhome will be rolling out a new in-app chat update that creates a safer environment for all users on our app.\nOhmyhome chats now have a more modern and aesthetic look and feel.\nWe\u2019ve doubled down on security and made that our utmost priority by:\nIntroducing fraud detection measures that flag out suspicious behaviours on the marketplace by blocking phrases and sentences typical scam artists use.\nRemoving the \u201cMake An Offer\u201d feature, which we\u2019ve identified as one of the functions abused to pressure users to send money to what they believe to be a legitimate process and request in buying or viewing a home.\nImplementing read receipts to ensure that a user always knows the buyer or seller\u2019s level of engagement. In a chat conversation, you can now see if the other party has read your message.\nYou will receive push notifications when you get a chat reply on the Ohmyhome app.\nAdding push notifications for the chat function so that you\u2019re notified when you receive a reply. This means you end up buying, selling, renting, or leasing your home much quicker, saving precious time, and likely closing at a better deal.\nPromoting an environment to keep the entire conversation you have with an interested party within the app (it\u2019s much safer to keep Chats on Ohmyhome).\nImportant note for active users:\n1. (For all users) All closed and completed chat history sessions will be removed, but conversations with active listings will remain.\n2. (For Singapore app users only) The appointment setting function will also be removed, but only temporarily. A new and improved version will be introduced soon.\nThis will be a mandatory update so you will have to ensure you\u2019ve updated the app to its latest version before you can continue using it.\nWe\u2019ll remind you as the days get closer.\nIf you have yet to download our app, today is still the best day to do so. Put the power and knowledge of buying or selling your home in your hands. Feel free to click the image to your respective app stores below to \ndownload the app\n.\nDownload the Ohmyhome app on \nGoogle Play or App Store\n.\nWe\u2019re looking forward to making sure your experience with Ohmyhome continues to be a pleasant one and we\u2019re excited to let you know what else we have in store to make your homeowning experience even simpler and safer.\nWhile the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user."}