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Why I Choose Renting Over Buying a House in Malaysia

Every time someone tells me that renting forever is a terrible financial decision, I ask them to take a hike. They’re not wrong in saying that rent goes towards someone else’s mortgage, but that doesn’t make buying a house the only smart option. For many Malaysians, renting instead of buying a home makes perfect sense.Renting VS. Buying a House1. Buying a House is Expensive—And Still Going Up2. Zero Maintenance Worries as a Renter3. Access to Amenities Without Extra Costs4. No Property Taxes5. More Freedom in Choosing Where to Live6. Easy to Downsize When Needed7. Stable Rent vs Rising Mortgage PaymentsWhat About the Long-Term Benefits of Buying a House?ConclusionFAQs: Renting vs Buying a House in MalaysiaHere’s why I’m okay with renting—forever.1. Buying a House is Expensive—And Still Going UpThe cost of buying a house in Malaysia keeps increasing, especially in urban centres. According to the Housing and Local Government Ministry, over 35,000 unsold completed units worth RM22.45 billion were recorded in early 2022. Even with low demand, prices stay high.Why? Experts like Datuk NK Tong from REHDA point to the rising cost of raw construction materials. Developers pass these costs to buyers. Add to that high borrowing costs—Bank Negara Malaysia's OPR is at 3.00%—and home loans become a pricey commitment.2. Zero Maintenance Worries as a RenterUnlike homeowners, renters don’t worry about repair bills or home upgrades. If something breaks, the landlord handles it. Homeowners must manage all repairs, often at high costs.3. Access to Amenities Without Extra CostsFrom pools to gyms, many condos offer amenities that would be costly for homeowners. Renters get access with no installation or maintenance cost. Apartment buyers pay for these via monthly maintenance fees.4. No Property TaxesRenters don’t have to pay quit rent, parcel rent, or assessment rates—homeowners do. These taxes can cost thousands annually.5. More Freedom in Choosing Where to LiveBuying a house often means compromising on location due to budget. Renting gives you freedom to live in prime areas like Kuala Lumpur or Petaling Jaya—even if just temporarily.6. Easy to Downsize When NeededRenters can easily switch to smaller or cheaper homes when leases end. Selling a house is more complicated and costlier with agent fees, legal costs, and real property gains tax (RPGT).7. Stable Rent vs Rising Mortgage PaymentsRent stays fixed during the lease term. Mortgage payments, especially on adjustable-rate loans, can fluctuate. Plus, smaller rental units mean cheaper utility bills compared to landed homes.What About the Long-Term Benefits of Buying a House?Yes, buying a house builds equity over time and offers long-term security. But it also comes with debt and responsibility. Renting may be better for those seeking flexibility, financial control, or urban convenience.ConclusionWhether you rent or buy, the key is understanding your financial readiness, lifestyle goals, and future plans. Renting isn’t a failure—it’s a lifestyle choice. In today’s property climate, especially in Malaysia, renting remains a strong and viable option.By Imoney, a Malaysian-based financial comparison platform that helps users compare and apply for various financial products and services.FAQs: Renting vs Buying a House in MalaysiaIs renting a house in Malaysia better than buying? It depends on your financial goals and lifestyle. Renting offers flexibility, lower upfront costs, and freedom from maintenance or property taxes, while buying builds long-term equity and security.What are the hidden costs of buying a house in Malaysia? Homeowners must pay for maintenance, renovations, property taxes (quit rent, parcel rent, assessment tax), legal fees, and possibly real property gains tax (RPGT) if they sell.Do renters in Malaysia have to pay property taxes? No, property taxes are the responsibility of the landlord. Renters are not required to pay quit rent, parcel rent, or assessment taxes.Can you access condo facilities when renting? Yes, most rental condos include access to facilities like pools, gyms, and lounges—without the additional cost of installing or maintaining them.Can I switch homes easily if I’m renting? Yes, one of the biggest advantages of renting is the flexibility to move or downsize after your lease ends without dealing with selling procedures or high exit costs.Looking for help to rent a home? Fill in the form below, and our professional real estate agent will guide you to the right property to be called home![hubspot portal="5699703" id="85ebae59-f425-419b-a59d-3531ad1df948" version="" type="form"]Continue Reading:First-Time Buyer’s Guide to Buying a House in MalaysiaWhy Klang Valley Property Prices Keep RisingHome Loan vs Renting: What’s Right for You?

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IQI Debuts in Bulgaria, Opening Offices in Its Top Three Cities

Version: BM, CNThe global real estate agency IQI, has officially made its mark in the Balkans with the launch of IQI Bulgaria. As part of the proptech leader Juwai IQI, this expansion brings new offices to three major cities and unites nearly 250 agents and staff across the country through a partnership with local agency, Imoteka.  With this latest move, IQI Global now operates in over 32 countries worldwide. Juwai IQI Co-Founder and Group CEO, Kashif Ansari said the company is pleased to be able to launch with a leadership position in Bulgaria by adding one of the country’s most successful local real estate agencies to the IQI network. “We are extremely excited to have Yavor Peychev and his team at Imoteka join the IQI network. Imoteka stands out due to its market leadership, focus on mid-segment and luxury properties, and its commitment to integrating cutting-edge technology into operations.  “Just last year, Imoteka closed transactions worth €200 million. We expect the residential market to be worth €292 billion by year’s end. House prices reached a record high in 2024, having increased 15% from a year earlier."“Prices are being driven by economic growth, capital inflows from the European Union, and sustained low interest rates. For luxury properties, there is strong demand from international buyers,” shares Kashif Ansari. He also notes that this year, they expect clients and buyers to rapidly adopt IQI's globally leading, AI-empowered tech stack for even greater success.The country (Bulgaria) offers both urban properties in beautiful cities like Sofia, Plovdiv, Varna, and Burgas, as well as beach properties along the renowned Black Sea Coast and mountain properties in the famous ski resorts in Pirin, Rila and Rhodopa mountains.”  Juwai IQI Co-Founder and Group CEO, Kashif AnsariJuwai IQI Co-Founder and Group Managing Director, Daniel Ho said, “By bringing IQI’s international network and technology to Bulgaria, we will give the agents their tools that can make them more productive and help them increase their earnings.”  “Both buyers and sellers will see a difference as agents start to use our super-app Atlas and our Juwai and IQI marketing portals to enhance customer service and generate more buyer leads.”  Bulgaria is already an appealing real estate market to be in, and it’s only getting better. The country is already a member of Europe’s visa-free travel Schengen Zone. With GDP growth of 2.8%, its economy is growing.”  Juwai IQI Co-Founder and Group Managing Director, Daniel HoIQI has appointed Yavor Peychev, CEO of Imoteka, as the Head of IQI Bulgaria to lead and grow the team. Imoteka, part of the holding company Realto Group, is recognized as a major player in the real estate agency sector in Bulgaria and Southeastern Europe. “We are excited to become part of the global IQI network, with its more than 58,000 real estate agents in 32 plus countries. Joining IQI aligns perfectly with our vision of expanding our reach to the global level and enhancing our service offerings.”   We are the first agency in Bulgaria to implement AI tools into client services, and we sought a partner that can help us further develop our technology to empower our agents and clients.”  CEO of Imoteka and the Head of IQI Bulgaria, Yavor PeychevMr. Peychev further add, “Becoming IQI Bulgaria means that we will have some of the world’s best technology, practices, and marketing tools at our disposal. Our agents will be able to earn more, and our vendors and buyers will benefit from even better outcomes.” Excited about investing in Bulgaria property? Get expert advice from our professional real estate negotiators, who can provide you with the best market insights![hubspot portal="5699703" id="2380afe3-ad4c-4cfa-9abf-d3947e377bf2" type="form"]Continue Reading: IQI Dubai Begins New Chapter with a Grand Office Launch! Juwai IQI Expands Global Reach into Spain with Three New IQI Offices IQI Expands Into The Mediterranean Sea With IQI Montenegro

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IQI Prestige Award 2025: A Celebration of Real Estate Excellence 

Version: CN, BM The much-awaited IQI Prestige Award 2025 took center stage on April 14, 2025, at the prestigious Grand Summit, The Vertical in Bangsar South. The dazzling black-tie event brought together real estate’s finest, IQI’s top agents and negotiators from around the country, to celebrate the very best in the industry. This exclusive gathering wasn’t just about business. It was a night that embodied elegance, achievement, and a true sense of camaraderie.  View this post on Instagram A post shared by IQI (@iqiglobal)A Star-Studded Affair The grandeur of the evening set the tone for a night that left everyone in awe. As guests arrived, the atmosphere was electric, with industry experts, agents, and negotiators dressed to the nines in their finest black-tie attire. Celebrating Excellence 1.Real Estate RecognizedThe highlight of the night was, of course, the award ceremony itself. Agents and negotiators from different groups and regions were honoured for their outstanding performances, showcasing their dedication, hard work, and unwavering commitment to excellence. It was a moment of recognition for those who have made a significant impact on the real estate industry, and a powerful reminder of the incredible talent that makes IQI a global leader. The atmosphere was filled with pride as those who had gone above and beyond were celebrated by peers, mentors, and industry leaders alike. Each award presented was a testament to the passion and drive that fuel IQI’s success around the world. Here are the categories that lit up the stage: ? Individual Awards Top Rookie Million Dollar Awards (Primary & Secondary Market) Top Highest Unit Closer Highest Sales in a Single Deal Top IQI Merit Score Top Recruiter Award Top Direct HOT Top Performer Overall Top Team Leader Best Social Media Influencer Vanguard Award International Excellence Award (Canada, Vietnam, Brunei, Hong Kong) Billion Dollar Achiever Club ? Group Awards Primary Market Achievers Secondary Market Achievers Platinum Achievers Platinum Plus Achievers Titanium Achievers ? Team Awards Top Team of the Year – Secondary Market Top Team of the Year – Primary Market Top Team of the Year – Overall 2.RolexAmong the most coveted prizes were trophies, and a Rolex worth thousands of Ringgit. A total of 9 real estate agents and team leaders received this award that night, which not only excited the audience, but also inspired the efforts and fighting spirit of other real estate agents.3.Wonderful PerformancesAs the night progressed, captivating performances lit up the stage, adding another layer of excitement to the celebration.In addition to the live band's melodious song performances, IQI's real estate agencies also gave wonderful performances, which brought the atmosphere of the night to a climax!A Night to Remember The IQI Prestige Award 2025 is no doubt a truly unforgettable event. Not only did it shine a spotlight on the outstanding achievements of IQI’s agents, but it also offered a valuable platform for networking and collaboration. As guests mingled and shared stories, it became clear that the night was not just about celebrating success, but also about strengthening the bonds that unite the global IQI family. The event reaffirmed IQI’s commitment to excellence, innovation, and community and set the stage for even greater accomplishments in the future.  View this post on Instagram A post shared by IQI (@iqiglobal)Sound exciting? What if we told you we have all these awards, prizes and more for our agents year-round? Join IQI now as a real estate negotiator to enjoy these benefits![hubspot portal="5699703" id="c063034a-f66d-41ab-881b-6e6a3f275c33" type="form"]Continue Reading: StarProperty Awards 2024: IQI Secured 21 Awards on the Prestigious Night!Juwai IQI Awarded by MDEC as Largest Proptech Company in MalaysiaJuwai IQI Convention & Festival 2024: Southeast Asia’s Largest Real Estate Event Wraps Up with a Bang

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5 Things You Need to Know When You Renovate Your House

Buying a home is already a big undertaking, but just when you think that’s complex enough, starting a house renovation project can be an exciting journey that quickly turns into a nightmare without proper planning.Renovating isn’t just about picking tiles and colour swatches. It’s a full-blown construction project that requires planning, vigilance, and a whole lot of patience.Whether you're dealing with a new house or an old house, here are 5 things you must know before you get started renovating!Essentials to know before starting the handiworks!Set a Clear TimelineSign a Contract with a Payment Timetable and BudgetHire a Reputable and Certified ContractorMonitor Renovation Progress CloselyInspect the Completed Work Before Final PaymentFAQsSet a Clear TimelineThe first and most essential step is to have a realistic and detailed schedule in place.Renovation projects can sometimes take longer than expected due to weather, supply delays, or unforeseen structural issues, but that doesn’t mean your building process should run endlessly.Before any work begins, sit down with your contractor or architect to clearly outline the project schedule, including when each stage is expected to begin and end.Having these checkpoints not only helps you track progress but also keeps everyone accountable.It’s also easier to spot red flags when things start falling behind without clear explanation.Having a timeline gives you the structure to address delays early instead of being caught off guard halfway through.Sign a Contract with a Payment Timetable and BudgetNever begin a renovation without a proper contract that includes a payment timetable and a clearly defined renovation budget.The contract should cover all aspects of the project: scope of work, itemised renovation costs, types of materials, labour, services, and terms for dealing with delays or defects.The payment schedule should be milestone-based—for example, a portion paid upon completion, another at the halfway point, and the rest only after final inspection.This protects you from potential abandonment or subpar workmanship.Paying everything upfront is not advisable, no matter how friendly or convincing the contractor may seem.It's also highly recommended to save some extra money in advance to cover unexpected costs.Hire a Reputable and Certified ContractorChoosing the right contractor goes far beyond a few social media reviews or a friend’s recommendation.Always hire a contractor registered with both the Construction Industry Development Board (CIDB) and the Companies Commission of Malaysia (CCM).CIDB registration ensures the contractor has met national standards and is legally allowed to perform renovation works in Malaysia.One of the most important things to check is their CIDB grade, which determines the maximum value of the project they’re authorised to undertake.For example, a Grade G1 contractor is only allowed to take on projects valued up to RM200,000, while a Grade G7 contractor has no tender limit and can handle projects of any scale.Here's a breakdown of the CIDB grades and their tender limits:CIDB GradeTender LimitG1Not more than RM200,000G2Not more than RM500,000G3Not more than RM1 millionG4Not more than RM3 millionG5Not more than RM5 millionG6Not more than RM10 millionG7No limitAlways ensure that the contractor’s CIDB grade matches the scale of your renovation.A contractor with a lower grade taking on a larger job than they’re certified for is a red flag.In addition to registration, review their past projects, visit their website, and speak to previous clients if possible.A well-established contractor should have no problem providing references or a portfolio.Monitor Renovation Progress CloselyOnce the project is underway, your involvement doesn’t stop there.Closely supervising the renovation process is crucial to ensuring the work reflects what was agreed upon.Visit the site regularly, take photos, and keep an open channel of communication with your contractor and renovation team.It also shows your contractor that you're paying attention, which tends to keep standards higher. Using tools like a browser-based project tracker can also help.You’ll also want to focus on key areas like bathrooms, bedrooms, room layouts, door fittings, and the placement of windows.Determining your preferred interior style and how to create a comfortable space is something best done in advance.Having a designer on board can help you visualise your dream home and decide on the right furnishings and furniture.Inspect the Completed Work Before Final PaymentOnce your house renovation is declared complete, resist the urge to rush in and sign off.Take the time to thoroughly inspect all the work done.Look for common issues like uneven finishes, hollow-sounding flooring tiles, faulty lighting, leaky plumbing, or electrical works that don’t match the specs.If possible, get a second pair of eyes—either a friend with renovation experience or a professional inspector, to help identify flaws you may overlook.Document everything through photos and video, and flag anything that needs rectification before making the final payment.Once full payment is made, it’s significantly harder to get the contractor to return and fix outstanding issues.Also, don’t forget to account for smaller details such as painting, tools left behind, or the need to rebuild or extend areas due to poor planning.In conclusion, the more prepared you are, the less likely you’ll spend unnecessary money.At the end of the day, every renovation comes with effort, cost, and emotional investment.But with proper planning, the right team, a clear contract, and patience, you can complete the project with far less stress. After all, your dream home is worth it!FAQsWhat is the meaning of house renovation? House renovation means improving or updating a home to make it look better, work better, or both. It can include things like repainting, replacing floors, or upgrading fixtures.What is the difference between renovation and remodel? Renovation is making something old look and feel new, while remodeling is creating something new from something old. If you're just updating finishes and fixtures, you're renovating. If you're changing the layout or structure, you're remodeling.What is the point of renovation? Renovation is done to improve how a space looks or works. The main goal is to update or refresh a home, often with a more modern design.Every dream home starts with the right property. Whether you're renovating an old house or buying one with endless potential, our trusted agents are here to help you find the perfect place to begin. Enquire below now to get started![hubspot portal="5699703" id="85ebae59-f425-419b-a59d-3531ad1df948" type="form"]Continue Reading:How much do you need to renovate your house in Malaysia? 2025Renovating vs. Remodelling Home: What Are The Differences? A Beginners Guide to Buying Home Insurance in Malaysia

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