Recently, Bank Negara Malaysia (BNM) lowered the Overnight Policy Rate (OPR) to 2.75%, which is undoubtedly good news for homebuyers. Previously, the OPR was raised to 3% in May 2023. This rate cut means that commercial banks’ lending rates are expected to decrease accordingly, thereby reducing the monthly repayment burden for homebuyers. For investors planning to purchase luxury properties in Johor Bahru, lower borrowing costs will increase their return on investment and may attract more potential buyers into the market, further stimulating transactions in the Johor Bahru luxury real estate market.
Latest Mortgage Interest Rate Adjustments: A Boon for Homebuyers?
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