KUALA LUMPUR: NOW is a great time to buy a property, if you're in the market for one, with 2024 predicted to be a good year for Malaysia's property market.
This is in light of Bank Negara Malaysia's projection that the country's gross domestic product will post a steady growth of between four and five per cent this year.
Mah Sing Group Bhd founder and group managing director Tan Sri Leong Hoy Kum said he anticipated higher demand from first-time house buyers.
The RM10 billion Housing Credit Guarantee Scheme announced in the 2024 Budget will make it easier for Malaysians to become homeowners.
Mah Sing expects continued strong demand for its M Series developments and has set a higher sales target of more than RM2.2 billion for this year.
The group has launched the "Mah Sing First" campaign offering limited-time sales packages to attract more buyers, especially first-timers, through various incentives.
Additionally, buyers can take advantage of the campaign's low down payment offer.
The "Mah Sing First" campaign involves more than 10 projects, providing buyers with a wide variety of options.
Landed and high-rise properties with up to four bedrooms are available in Kuala Lumpur, Selangor, Johor and Penang.
The projects in Kuala Lumpur and Selangor include the newly launched M Nova (from RM328,000) in Kepong, M Astra (from RM399,000) in Setapak, M Vertica (from RM480,800) in Kuala Lumpur City, M Oscar (from RM767,000) in Sri Petaling, M Panora (from RM614,000) in Rawang, M Sinar @ Southville City (from RM270,000) in Bangi, and Wisteria @ M Senyum (from RM496,000) in Salak Tinggi.
In Johor, the two participating projects are Jasmine @ Meridin East (from RM513,000) and M Minori (from RM288,000).
The Johor segment, especially, is expected to benefit from a number of upcoming major projects, including the Johor-Singapore Special Economic Zone, the Johor Baru-Singapore Rapid Transit System, and possible revival of the Kuala Lumpur-Singapore high-speed rail project.
Additionally, the Pengerang Integrated Petroleum Complex (PIPC), which is slated to be designated as a chemical and petrochemical development hub with the provision of special tax incentives to attract high-value investments, will benefit Meridin East, the group's township development in Pasir Gudang.
In Penang, the three participating projects are The Loft (from RM1.398 million) in Bayan Lepas, Ferringhi Residence 2 (from RM788,584), and Ferringhi Residence (from RM857,340).
These projects are expected to benefit from the Penang Transport Master Plan as it envisions additional alternative modes of transportation, including cable car lines, Light Rail Transit and monorail lines, and an underwater tunnel connecting George Town with Butterworth.
There are also financial assistance for first-time house buyers, with monthly plans starting at RM1,075 for high-rise properties and RM1,800 for landed homes.
Mah Sing is one of the country's most reputable developers. It has won multiple awards and delivered more than 45,000 properties to owners over the years.
The group has strong product leadership in affordable homes thanks to the group's agile business model. In particular, its M Series development has seen encouraging take-up, as evidenced by its stellar performance last year.
The group's M Series developments in the Klang Valley and Johor, largely aimed at families and first-time house buyers aged between 25 and 40, have been very successful.
The company said attracting younger customers was a crucial part of its growth plan.
The "Mah Sing First" campaign ends next month.
