Why Rent When You Can Own? Exploring Malaysia's Property Market Outlook in 2023

As we move further into 2023, the property market outlook in Malaysia appears to be optimistic. With the economy recovering and the country opening up to foreign investors, it's a great time to consider investing in your own property. After all, why rent when you can own?

Recent price comparisons between renting and buying with a 90% loan tenure of 35 years show that the monthly instalment amount is only slightly higher than the rental price. This is a significant factor to consider when thinking about renting a home. Even short-term renting can be viewed as an investment opportunity, where you can buy a property and rent it out when you need to relocate.

The second point is that there is no need to worry about finding tenants, as the demand for rental properties in Malaysia is currently higher than the supply. This provides a sense of confidence that you can easily rent out your property at a profitable price.

If you are looking to rent now, just look at yourself as part of the demand and how is the market supply today, imagine now you are the Landlord and how confidence you can rent it out.

The third point to consider is that rental prices are likely to go up post-Covid as the market continues to open up, and more foreigners are allowed to invest in the Malaysian property market. This presents a great opportunity to invest in your own property and benefit from increased rental demand.

Fourthly, inflation is likely to kick in as the economy continues to cycle, which is a sign that it's time to buy property. By owning a property, you can protect yourself against inflation and benefit from capital appreciation in the long run.

Fifthly, owning a property brings a sense of emotional satisfaction as you have the freedom to renovate and decorate the property according to your own preferences. In contrast, renting a property means that you have limited control over the design and decor of the home.

Sixthly, owning a property also means that you can become a landlord in the future and collect rental income. This is a great way to generate passive income and create a sustainable long-term investment plan.

Lastly, property has proven to be a long-term investment that only goes up in value over time. This means that by investing in your own property now, you are likely to see an increase in its value over the years, providing you with financial stability and a solid asset for your portfolio.

In conclusion, as the property market outlook in Malaysia looks positive, it's a great time to consider investing in your own property. Renting may seem like the easier option in the short term, but in the long run, owning a property is a much more beneficial and financially secure option. With rental prices on the rise and the demand for rental properties exceeding supply, investing in your own property is a wise decision that will provide you with a solid asset and sustainable long-term investment plan. So, why rent when you can own?