If first-time home buyers read enough articles on personal finance and the property market, they will understand that even if it may not be the best time ever to buy property, it is definitely a good time today.
According to an article in theedgemarkets.com, MIEA has suggested that the Home Ownership Campaign should also include first-time homebuyers of the secondary market, simply because this market makes up around 80% of all residential property transactions in the nation. Currently, Malaysian homebuyers are entitled to stamp duty waivers and a minimum 10% discount from developers on new properties under the HOC.
In secondary markets, owners may not want to reduce their prices, thus forking out money for a downpayment becomes a major issue for first-time home buyers who have not saved enough for this expense.