Lawyer cum investor, Ron Ong, believes 2017 is the year to go shopping for Malaysian properties due to the availability of many bargain priced units.
Is there a prolonged winter season for the property industry in Malaysia? “Not at all,” smiled Ron Ong Kit Wee, a young lawyer based in Petaling Jaya, Selangor, Malaysia. “For me, this year up to 2018 is a prolonged shopping spree!”
For the seasoned investor, this is nothing new – during every downturn, it’s time to pick up bargainpriced properties. But, Ong, currently the Managing Partner of Messrs Kuek, Ong & Associates, has a slight advantage.
He is a conveyancing lawyer since 2013 with a wide network of friends in the property industry in Malaysia – they include agents and developers. At last count, he owns about 19 properties – most of them jointly with his family and friends. While most investors consider 2017 a bad year for property investment, Ron believes that with proper planning and research, there is an opportunity in every crisis.
Asian Property Review caught up with him to find out his reasons for being optimistic.
APR: Why do you invest in property?
RO: Historically, property is a safe investment, as real estate is always in demand. Through wars, disasters, economic crises and recessions, the returns associated with property are less likely to be volatile. Even if the value of the unit drops, it is still an asset, one that you can use as a home.