I am a Singaporean working in China and now in my late 40s.
I am interested in investing in a KLCC (Kuala Lumpur city centre) condo unit. I have been doing research over Internet for the last 18 months, and visited the KLCC area in July.
A Citibank report indicated that there will be new condo units completed in the KLCC area – 2,500, 4,500 and 3,500 units in 2012, 2013 and 2014.
I am aware that the occupancy rate could be low ( less than 50%) with existing KLCC condo units.
I am prepared to buy and hold for at least five years, and be prepared to be leave it empty (difficult to rent out?) for 18 months.
When would be the best time to enter the market? 2013 or 2014 or even later?
Should I buy directly from the developer or from resale market?
Thanks for any advice.