GOVERNMENT & ECONOMIC TRANSFORMATION PROGRAMME

Naturally, anyone buying property in Malaysia would like reassurance that the economic outlook is rosy. There have been however, various articles expressing concerns about the country's long-term outlook.

This is partly because the supplies of oil and gas, which have been a major sourse of income, are dwindling. Malaysia has had a long-running plan to reach fully-developed-nation status by 2020. This so-called "Vision 2020" has consisted of 5-year plans with the aim of transforming the economy and imroving life for Malaysia's people. So far, the government has done an impressive job of moving the country forward.

However, even the government now recognises it has some major obstacles ahead. They have therefore embarked on a major initiative which they call the Government & Economic Transformation Programme (GETP). It is being overseen by a new ministry called Pemandu (performance management & delivery unit).

Part of the Government Transformation Programme addresses social and related issues including education, poverty, crime and corruption. There was also an examination of some costs borne by the government, most noticable the various subsidies offered on a range of products from flour to petrol, to look for ways to reduce them.

The key area of focus was aimed at raising the country's gross national average income from US$6,700 to US$15,000 by 2020. In order to acheive this, the government set up think tanks managed by senior private and public sector employees who were tasked with studying eleven key industries to see what could be done to accelerate growth. Called the Economic Transformation Programme, it consists of a number of specific projects with the objective of accelerating growth.

In addition to the eleven economic areas, there was one geographic one. That is the Greater Kuala Lumpur/Klang Valley Plan. Its ambitious aim is to make the city into one of the top-twenty most liveable cities in the world. It recognises that KL faces stiff competition, even within Asia, when it comes to attracting talent and multinational corporations. The plan includes creating a new body - Talent Corp - which will aim to attract talent from overseas: both expats and Malaysians who have chosen to live elsewhere. It will also try to encourage multinationals to set up business here.

The KL plan will address the poor public transportation and include beautification programmes. The latter includes developing 10 areas along the banks of the Klang River, cleaning up the river, and increasing the green areas. It goes without saying that if this plan is successfully implemented then the value of properties in the KL area will certainly appreciate accordingly.

The GETP is a comprehensive and very ambitious effort that deserves the nation's full support. There are of course critics who questions its acheiveability, but that has been the case with every government initiative for the past thirty years. During that time we have seen the transformation of Malaysia and like most expats we have been very impressed by the progress made in a relatively short time. We remain optimistic.

6 Most Important Steps In Buying A Home

Sometimes buying a home can be a long and tedious process. It can also be one of the most important investments in your life. So it is important for you to do your homework and do it right. These are five important real estate home buying steps, that should help you make a good choice.

1.Before thinking of buying a property, be sure to have your finances ready beforehand. There is no better time to take a good hard look at your credit report, as it will have a major impact on the amount and kind of financing that you can get. If you find any discrepancies in your credit report, now is the time to get it taken care of as quickly as possible for buying a home.

2. Secondly, to know exactly what you are looking for before you even get started. So take out a piece of paper, sit down and carefully list all of the most important features of the home you need in your life.

Where do you plan for buying a home? Does it need to be near a certain school district? What is the size home will be needed? Do you want a single story or multi-story home? How many bedrooms and bathrooms should it have to accommodate everyone in your family?

There are plenty of other questions that you could ask yourself at this point, so try to get a clear picture of the kind of new home that you would like by brainstorming in advance..

3. What kind of property that you are interested in buying a home depending on your personal finance. Your monthly loan repayment and the down payment (including moving cost and renovation) will guide you to what type of property you are afford for.

4. How do you plan in buying a home? For instance, would you prefer buying a home through multiple listings or for sale by property owner? Would you consider buying an auction home? What price range is the home that you would be interested in? If you are a luxury home buyer, then you should focus on that particular segment of homes. If you’re a first time home buyer, then most likely your sights will need to be set on much less expensive homes.

5. Find the lender who will give you the best deal, and get it pre-approved for your home loan. This process will also help determine for sure what price range you can afford, and it can also help you in the negotiation process as well. It’s always an advantage when you already have your financing taking care of, and can go ahead and place a legitimate offer on buying a home without having to wait for pre-approval.

6. Real estate agent could help you get tips and information, and steer you in the right direction to find the home that you want. The most important consideration is to make sure that the real estate agent is indeed working for you as the home buyer and not for the seller of the home that you want to purchase.

In order to find a high-quality, reliable real estate agent, ask your family and friends and anyone you know for recommendations or you can search for it online. You should have a short list of real estate brokers or property agents that you can choose from. It does makes a lot of sense to use a real estate brokers or property agents these day as the complexity of buying real estate property has increase.

Buying a home can be a little intimidating and many factors should be taken into considerations. If you follow these steps listed above, it will help you to stay on the right track and ensure that you get the best deal possible on buying a home that you dream for.

Professional Real Estate Agent Guide You To Your Property Investment Dreams

Have you think about buying or investing in property or real estate. Why not try to sell or buy property by your own? It’s sound good, but are you acquainted with all the nuances of transacting a commercial real estate?

Selling or buying a commercial real estate is one of the most difficult jobs and most of us are not smart enough to handle all the details in the most economic manner. Selling your own land might save you the commission payable to professional real estate agents however; you will spend double the amount through other channels in the transaction process. You save in the beginning step but might spend more in next.

It is always advisable to get a professional real estate agent to help you with your transaction or to deal with established real estate buyers while selling your property. Choosing an expert real estate agent can make a big difference as they are most informed about all real estate investment opportunity and can ensure that you get the maximum return out of your real estate transaction. At the same time, professional real estate agents would manage all the legal issues reducing your burden.

Now, lets see the benefits of hiring an expert real estate agent. Professional real estate agents equipped with the latest and up-to date information on real estate market. The available information is always accessible to interested clients. They provide clients with information about the latest happenings in sales price data, comparative costs and other labor costs to help clients to make the best out of their property investment.

These professional real estate agents also provide access to other information, which can make big difference in your decision about choosing the perfect real estate investment opportunity. They will provide you with information like market lease trends, popularity study and a comparative report on the changing trends in different real estate markets in different states.

Professional real estate agents also look after the economic trend that affects the real estate market. These information can be used by the prospective client to study the current real estate market and choose the ideal property that fits his purpose and pocket. They are capable of handling thousands of data and handling very large transactions that involves millions of ringgit. In order to get the competitive edge, a client should get the latest information from the professional real estate agents.

A real estate transaction involves legal issues and complexities, which are very difficult to be single handedly taken care of by any layman. These professional real estate agents are trained and able to solve the complicated legal issues and thus save your valuable. Although the real estate agents will take their share from the sale proceeds as commission, but it’s worth giving that amount rather than making an improper buying investment property.

Pay to the professional to work for you and save your time and money, let your real estate venture goes smoothly. It’s advisable not to venture into a real estate transaction without the guidance and advice of professional real estate agent. They have the right training and equipment to give you proper advice and transaction services so that your money gets into the right channel. They provide a professional service.